A so-called friend has offered to loan you $1,000 for one year. At the end of the year you must pay your friend $2,000. What is the APR on this loan if interest is compounded daily?
A) 50.00% B) 69.38% C) 81.33% D) 96.30% E) 100.00%
Favorable fixed factory overhead volume variances are never harmful, since achieving them encourages managers to run the factory above normal capacity.
A) the product is produced at the lowest unit-cost possible. B) society's scarce resources are used to produce products that align with consumer preferences. C) the product is sold at a price equal to the average cost of producing it. D) the marginal benefit of the product exceeds its marginal cost.