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Wewaii [24]
2 years ago
6

Suppose you have a dinner gift certificate for $20. You can use it to order meatloaf or pot roast. Meatloaf costs $12, and pot r

oast costs $14. Meatloaf and pot roast are both worth $15 to you. The dollar value of the opportunity cost of choosing meatloaf instead of pot roast is
Business
1 answer:
antiseptic1488 [7]2 years ago
8 0

Suppose you have a dinner gift certificate for $20. You can use it to order meatloaf or pot roast. Meatloaf costs $12 and pot roast costs $14. Meatloaf and pot roast are both worth $15 to you. The dollar value of the opportunity cost of choosing meatloaf instead of pot roast is $15 EX.

<h3>What Is Opportunity Cost?</h3>

Opportunity costs represent the potential benefits that an individual, investor, or business misses out on when choosing one alternative over another. Because opportunity costs are unseen by definition, they can be easily overlooked. Understanding the potential missed opportunities when a business or individual chooses one investment over another allows for better decision making.

Opportunity cost is often overlooked by investors. In essence, it refers to the hidden cost associated with not taking an alternative course of action. If, for example, a company pursues a particular business strategy without first considering the merits of alternative strategies available to them, they might fail to appreciate their opportunity costs and the possibility that they could have done even better had they chosen another path.

Formula Of Opportunity Cost

​Opportunity Cost=FO−CO

where:

FO=Return on best forgone option.

CO=Return on chosen option.

​

Learn more about Opportunity cost on:

brainly.com/question/12121515

#SPJ4

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3 0
3 years ago
Sewtfi861 Corporation makes an extra large part to use in one its fabulous products. A total of 16,000 units of this extra large
LenKa [72]

Answer:

The annual financial disadvantage is $62,560

Explanation:

<u>Analysis of the Costs of Producing Internally and Buying from External Supplier.</u>

                                                    Producing Internally       External Supplier

Direct materials                                      $3.50                                  $0

Direct labor                                             $8.10                                   $0

Variable manufacturing overhead        $8.60                                  $0

Supervisor's salary                                 $4.00                                  $0

Depreciation of special equipment       $2.40                                  $0

Allocated general overhead                  $7.60                               $7.60

Extra contribution                                     $0                                  ($2.19)

Purchases Cost                                        $0                                   $32.70

Product Cost                                          $34.20                              $38.11

<u>Conclusion :</u>

We can see that the Product Cost to produce the part internally costs $3.91 less than the cost to purchase from external supplier. Therefore Sewtfi861 Corp has a disadvantage.

Annual disadvantage =  16,000 units × $3.91

                                    =  $62,560

6 0
3 years ago
Which career would organize,train and support teachers and educational workers to help them provide better instruction?
borishaifa [10]
Instructional<span> coordinators </span>can provide<span> training for </span>teachers<span> in curriculum</span>
6 0
3 years ago
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umka2103 [35]

Answer:

b. Share the customer research with employees, showing them why change is needed.

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Explanation:

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Read 2 more answers
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