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spin [16.1K]
2 years ago
11

If a family spends its entire budget in a given time frame, the family can afford either 10 restaurant meals or 30 home meals. A

ssuming the family spends its entire budget on just these two goods, what is the opportunity cost of one extra restaurant meal in the time frame? (Round your answer to two decimal places.)
Business
1 answer:
Andrej [43]2 years ago
7 0

The opportunity cost of one extra restaurant meal in the time frame is 3 home meals.

<h3>What is opportunity cost?</h3>

Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives. When the family chooses to go for the restaurant meal, they forgo the opportunity for a home meal.

Opportunity cost  = 30 / 10 = 3

To learn more about opportunity cost, please check: brainly.com/question/26315727

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______has an absolute advantage in the production of alfalfa, and_______ has an absolute advantage in the production of barley.
AVprozaik [17]

Answer:

The person with Absolute advantage is the one that produces more of a good than the other.

<em><u>Dina </u></em><em>has an absolute advantage in the production of alfalfa, and </em><em><u>Charles</u></em><em> has an absolute advantage in the production of barley. </em>

The person with Comparative Advantage is the person who produces something at a lower opportunity cost.

Charles Opportunity Costs

Producing Alfalfa gives 12 bushels per acre instead of 6 bushels for Barley.

Producing 1 Alfalfa means 6/12 = 0.5 bushels Barley is given up

Producing 1 bushel of Barley means 12/6 = 2 bushels Alfalfa is given up.

Dina Opportunity Costs

Producing Alfalfa gives 15 bushels per acre instead of 5 bushels for Barley.

Producing 1 Alfalfa means 5/15 = 0.33 bushels of Barley is given up

Producing 1 bushel of Barley means 15/5 = 3 bushels of Alfalfa is given up.

<em>Charles's opportunity cost of producing 1 bushel of barley is </em><em><u>2</u></em><em> bushels of alfalfa, whereas Dina's opportunity cost of producing 1 bushel of barley is </em><em><u>3</u></em><em> bushels of alfalfa. Because Charles has </em><em><u>lower</u></em><em> a opportunity cost of producing barley than Dina, </em><em><u>Charlie</u></em><em> has a comparative advantage in the production of barley, and </em><em><u>Dina</u></em><em> has a comparative advantage in the production of alfalfa.</em>

6 0
3 years ago
What is the number of times an audience sees or hears an advertisement
Tems11 [23]

<u>Answer:</u> Frequency

<u>Explanation:</u>

Frequency is the number of times the audience sees or hears the advertisement. It is significant to measure the frequency of the advertisement such as TV media, posters, hoardings, radio, social media etc. to know the effectiveness of the advertisement.

When the advertisement is effective then the sales for the product or service advertised increases. Advertisement also increases the consumer awareness about the product. Increased frequency can be very efficient as it creates a memory in the minds of the consumers.

5 0
3 years ago
___ are poorly trained and inadequately managed employees who mean well but have the potential to cause much damage.
madam [21]

Answer:

Negligent insider.

Explanation:

<u>Negligent insider</u> are poorly trained and inadequately managed employees who mean well but have the potential to cause much damage.

Negligent insiders are the employees who are given access to the organization network. They are the ones who unintentionally make an error with the security privacy or due to their negligence they get trapped in phishing emails, risky websites, leakage of the company´s confidential data, etc. These mistakes cause a big loss to the company and these insiders turn out to be a threat to the organization. The company needs to strategies on how to mitigate these threats. They can mitigate these issues by properly training and controlling the accessibility of employees.

3 0
3 years ago
Sag manufacturing is planning to sell 400,000 hammers for $6 per unit. The contribution margin ratio is 20%
Tasya [4]

The question is incomplete. The following is the complete question.

Sag Manufacturing is planning to sell 400,000 hammers for $6 per unit. The  contribution margin ratio is 20%. If Sweet will break even at this level of sales, what are  the fixed costs?

Answer:

Fixed costs are $480000

Explanation:

The break even sales is the value of total sales or total revenue where it equals total cost and the company makes no profit or no loss. The break even in sales is calculated by dividing the fixed costs by the contribution margin ratio.

Break even in sales = Fixed cost / Contribution margin ratio

Plugging in the available values we can calculate the value of fixed cost. We know that the break even in units is at 400000 units. Thus, its value in sale will be 400000 * 6 = 2400000

2400000 = Fixed cost / 0.2

2400000 * 0.2 = Fixed cost

Fixed costs = $480000

6 0
3 years ago
In business markets, individuals or groups purchase products for one of three purposes. These purposes areA) resale, wholesale,
Elanso [62]

Answer:

D). Resale, Direct Use in Producing Other Products and Use in General Daily Operations

Explanation:

Business Groups represent a group of people who purchase goods and services for resell, new products and daily operations purposes.

Resale Purpose- This include wholesalers and retailers, they purchase these goods and services do not modify them but sell them in order to make profits. These are called Reseller markets

Use in Producing other Products- This include category of Producer markets. They include manufacturing and construction compaines, they buy goods and services for use in producing sellable products to consumers for profit making.

Direct use in General Daily Operations- Those who purchase goods and services for direct use are divided into two categories and they are not for profit making purposes.

  • Government Markets- They buy goods and services through bidding processes and they include state, local and federal governments
  • Institutional Markets- They include religious organisations among other NGOs who purchase goods an services to ensure community benefits.

Read more on Brainly.com - brainly.com/question/14212640#readmore

5 0
3 years ago
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