The cost of goods sold based on the sales revenue in 2019 is $32,400
What is the cost of goods sold?
The cost of goods sold is the cost of the goods sold in a particular year, it is determine as the sales revenue minus the gross margin in dollar terms.
We need to first of all determine the sales revenue in 2019 based on 2018 sales revenue and the 2019 growth rate of 8%
2019 sales revenue=50,000*(1+8%)
2019 sales revenue=$54,000
Now the gross margin is 40% of sales revenue
cost of goods sold=sales revenue-gross margin
cost of goods sold=$54,000-(40%*$54,000)
cost of goods sold=$32,400
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Answer:
the answer is option D)<u>Equal sharing of the bill ensures that people order a similar dollar amount of food</u>
Explanation:
The theory of consumer behavior states that "consumers allocate incomes among different goods and services to maximize their utility"
Consumer behavior revolves around three parameters their preferences, budget constraints, and options available.
The budget constraint will definitely influence the choice of what to buy within the options available to maximize utility. That means how the bill is shared among the three friends will ultimately affect how much they will chose to eat.
Secondly, The vegetarian will not be better off with equal sharing of the bill because the cost of his food according to the data provided is less.
We don not know for sure if the wine drinker drinks too much or whether he will want his other friends to foot the extra bill from the cost of his wine but we are certain that equal sharing of the bill ensures that people order a similar dollar amount of food.
Answer:
No, Watching TV has an opportunity cost
Explanation:
Opportunity costs represent the forfeited benefits for preferring a certain option over others. It is the foregone benefits from the next best alternative.
Watching TV for two hours has an opportunity cost. By watching TV, a person has sacrificed doing other things. The two hours could have been used in other ways like working, studying, swimming, or playing. By watching TV, the person missed benefits from the other activities. The other activity that would have resulted in more benefits other than watching TV is the opportunity cost.
