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In economics, joint product is a product that results jointly with other products from processing a common input; this common process is also called joint production. [1] A joint product can be the output of a process with fixed or variable proportions.
In microeconomics, joint product pricing is the firm's problem of choosing prices for joint products, which are two or more products produced from the same process or operation, each considered to be of value. Pricing for joint products is more complex than pricing for a single product. To begin with, there are two demand curves.
A split-off point is the point of production at which joint products appear in the production process. [1]For example, when a company was preparing its financial statements, it realized that because it showed no profit or loss, it was unattractive to investors.
A waste product may become a by-product, joint product or resource through an invention that raises a waste product's value above zero. Examples include municipal solid waste (household trash/refuse), hazardous waste, wastewater (such as sewage, which contains bodily wastes (feces and urine) and surface runoff), radioactive waste, and others.
Co-branding is a marketing strategy that involves strategic alliance of multiple brand names jointly used on a single product or service. [1] Co-branding is an arrangement that associates a single product or service with more than one brand name, or otherwise associates a product with someone other than the principal producer. The typical co ...
Cost: $7 | Active ingredients: Lidocaine | Type: Cream | Amount: 4.3 ounces. Lidocaine is another popular ingredient found in pain relief creams. It's a topical anesthetic that's often used to ...
Almost all manufacturers incur joint costs at some level the manufacturing process. [2] It can also be defined as the cost to operate joint-product processes including the disposal of waste. [3] With regard to joint costs, it is essential to allocate the joint cost for the different joint products for determining individual product costs.
Image credits: mleclerc182 #9. Lime green skittles. sour apple is for a*****s. #10. There was a pancake batter in a whipped cream can I used to buy. It was great, you didn’t need to make a ton ...
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