In connection with a standard cost system being developed by flint co., the following information is being considered with regard to standard hours allowed for output of one unit of product: hours average historical performance for the past 3 years 1.85 production level to satisfy average consumer demand over a seasonal time span 1.60 engineering estimates based on attainable performance 1.50 engineering estimates based on ideal performance 1.25 to measure controllable production inefficiencies, what is the best basis for flint to use in establishing standard hours allowed?

a. 1.60
b. 1.85
c. 1.25
d. 1.50

Which of the following statements about brand names is true? brand names give the seller an incentive to provide consistently high-quality products and services in order to protect the reputation of the brand. brand names are always economically wasteful since they dupe consumers into buying more expensive goods and services that are no different from generic versions. it is always rational to prefer brand names over generic substitutes. read the following example and determine whether it illustrates a common critique or defense of advertising. musashi sees a commercial for a brand x clothing company that depicts the wearers of the clothes out having a good time with friends. although he doesn't particularly need new clothes, the commercial prompts him to buy a brand x t-shirt.

The questions of economics address which of the following ? check all that apply

Demand increases by less than supply increases. as a result, (a) equilibrium price will decline and equilibrium quantity will rise. (b) both equilibrium price and quantity will decline. (c) both equilibrium price and quantity will rise