1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vampirchik [111]
3 years ago
5

Opportunity costs occur when decisions are made. economists recommend that those decisions be based on what?

Business
1 answer:
zhannawk [14.2K]3 years ago
6 0
Those decisions should be based on COSTS AND BENEFITS.
In making decision on which course to follow, the decision made will be based on the costs of the products involved and the benefits that each one of them has to offer. The product with the lowest cost and the highest benefits should be chosen.
You might be interested in
Suppose that the U.S. government decides to charge wine producers a tax. Before the tax, 30,000 bottles of wine were sold every
kozerog [31]

Answer:

Explanation:

We were informed from the question that;

BEFORE; the tax, 30,000 bottles of wine were sold every week at a price of $4 per bottle.

AFTER; After the tax, 25,000 bottles of wine are sold every week; consumers pay $6 per bottle and producers receive $3 per bottle (after paying the tax).

✓✓The amount of tax on wine = $6 - $3 = $3 per bottle

✓✓The tax burden on consumers = The amount paid after tax - The amount paid before tax

= $6 - $4

=$2 per bottle

✓✓The tax burden on Producers = Price received before tax - price received after tax

= $4 - $3

=$1 per bottle

Hence, The amount of the tax on a bottle of wine is $3 per bottle. Of this amount, the burden that falls on consumers is $2 per bottle, and the burden that falls on producers is $1 per bottle.

The effect of the tax on the quantity sold would have been smaller if the tax had been levied on consumers(FALSE)

This is false, since the The tax burden on Producers is $1 per bottle while that of The tax burden on consumer is $2 per bottle.

8 0
4 years ago
A laborer wears a special back brace when loading trucks, a freight inspector wears goggles when conducting tests, and a distrib
Alborosie
<span>A laborer wears a special back brace when loading trucks, a freight inspector wears goggles when conducting tests, and a distribution manager wears earplugs while overseeing shipments. In which workplace do these Transportation and Logistics employees most likely work? Warehouses. Based on that equipment needed while working it seems as if warehouses is the most logical place they are working. 

</span>Yukio is a Brownfield Redevelopment Specialist. Which best describes his job?  O<span>rganizes the cleaning and redevelopment of areas contaminated by pollution or waste. When you redevelop land, you are removing things that make the land not usable to be able to reuse the land again. By doing this, you can make sure the land is able to be reused before spending more time trying to develop the land again or purchasing new land. </span>
5 0
3 years ago
Direct labor and indirect labor are recorded, respectively, to: Multiple Choice Work in Process Inventory and Factory Overhead.
Nana76 [90]

Direct labor and indirect labor are recorded in work in Process Inventory and Factory Overhead. Option A is correct.

<h3>What is indirect labor?</h3>

Indirect labor are expenses incurred during manufacturing process which are not directly, some logistics cost can be here.

Direct labor are charged directly in production such as cost of resources. They are recorded in the company overall spending called overhead cost.

Therefore, Direct labor and indirect labor are recorded in work in Process Inventory and Factory Overhead. Option A is correct.

Learn more on labour below

brainly.com/question/453055

#SPJ1

7 0
2 years ago
Rosa has decided to sell pet rocks at an art fair for $5 each. she has paid $50 to rent a table at the fair and it costs her $2
AlekseyPX
Answer: 17 pet rocksAssumption -  Rosa dug the pet rocks in her backyard thus zero cost for inputs.Given:  Selling price/rock -  $5Rent of table -          $5Package cost/rock - $2X = the minimum number of pet rocks to be sold to gain profit5X=50+2X5X-2X=503X=50X=50/3
6 0
3 years ago
Cattell agreed that the ______ approach to research is scientific, rigorous, and quantitative.
Naya [18.7K]
Multivariate approach

<span>Multivariate approach utilizes techniques to determine the effects of many (more than two) variables in a study. This uses multivariate statistical techniques, often involving high level mathematics.
</span><span>
The multivariate approach is especially useful in the field of social science research where it is generally difficult or impossible to use randomized laboratory experiments, very often used in medicine and natural sciences. Multivariate analysis then helps establish relationships between different variables and provide correlations on the importance of the different variables and their interactions with one another to the outcome. 
</span>
Cattell used this approach to produce highly specific data in his study of the structure of personality. 
3 0
3 years ago
Other questions:
  • Helen pays a 10% commission on the cost of the stock she bought at $17.57 per share. she purchased 150 shares. how much will hel
    8·1 answer
  • True or false: the nipp information-sharing approach constitutes a shift from a networked model to a strictly hierarchical struc
    9·2 answers
  • Kelly was working as a chef for a restaurant chain, She was promised a salary of $3,000 per month as her gross pay. She began pl
    14·1 answer
  • Effects of containerisation,..... 10 points
    9·1 answer
  • Which point on the graph shows minimum wage as the price?
    11·1 answer
  • Lisa's opportunity cost rate is 10 percent compounded annually. how much must she deposit in an account today if she wants to re
    8·1 answer
  • What values can you expect from a person of integrity
    13·2 answers
  • What are some certifications that would benefit my career in the financial industry, that I can obtain quickly?
    8·1 answer
  • Texas Inc. has 10,000 shares of 6%, $125 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock ou
    8·1 answer
  • A collection of related web pages for one individual or organization is what?​
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!