The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 11,200 gallons of direct materials that actually cost $42,400 were used to produce 6,000 units of product. The direct materials quantity variance for last month was

When the benefit of one particular use of a resource is greater than the opportunity cost, then that resource is which of the following? a. not scarce b. being used efficiently c. a normal good d. non-excludable

If big macs were a durable good that could be costlessly transported between countries, which of the following would present an arbitrage opportunity? check all that apply. exporting big macs from argentina to the united states. exporting big macs from the united kingdom to poland. exporting big macs from switzerland to china

True or false? u.s. government policy subsidizes industrial agriculture, which produces high-calorie commodities at the expense of more nutritious produce.