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2 years ago

In making the best economic choices, consumers compare the benefits of the choice to.

Business

1 answer:

uranmaximum [27]2 years ago

8 0

In making the best economic choices, consumers compare the benefits of the choice to cost.

<h3>What is economic choice?</h3>

economic choice can be regarded as the decision making by the consumer to choose the kind of product that is needed by them economically.

Therefore, the consumer usually consider the cost In making the best economic choices, as well as the benefits.

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Payback Period Each of the following scenarios is independent. Assume that all cash flows are after-tax cash flows. Colby Hepwor

Kruka [31]

Answer:

3 years and 4 months

Explanation:

Colby payback period = Investment in book and store / Annual cash income = $400,000 / $120,000 = 3.33 years = 3 years and (0.33 *12) months = 3 years and 4 months.

Therefore, the payback period for Colby is 3 years and 4 months.

7 0

4 years ago

Assume the price elasticity of demand (Ed) is 0.4 for gasoline in the long run. Some argue that we need a 50% reduction in gasol

dybincka [34]

Answer:

125%

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

Let x = percentage change in price

o.4 = 50 / x

x = 125

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3 years ago

Barry has a medical plan with a $1,200 deductible, 20% coinsurance, and a $5,000 coinsurance cap. His allowable medical expenses

Trava [24]

Based on his deductible and coinsurance cap, the amount that Barry will pay is <u>$4,560.</u>

<h3>Amount Barry will pay </h3>

Barry will have to pay the entire deductible of $1,200. The expenses that are left will then be shared between him and the insurer in a 20% - 80% ratio but he will not pay more than $5,000.

Total he will pay out of pocket is therefore:

= Deductible + ( 20% x (Medical expenses - deductible))

Solving gives:

= 1,200 + ( 20% x (18,000 - 1,200))

= $4,560

In conclusion, he will pay $4,560.

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4 0

3 years ago

Cutter Enterprises purchased equipment for $84,000 on January 1, 2018. The equipment is expected to have a five-year life and a

Anna71 [15]

Answer:

$25,200 and $58,800

Explanation:

The computation of the depreciation expense and the book value using the sum-of-the-years'-digits method is shown below:

The depreciation expense is

= (Purchase cost - residual value) × useful life ÷ (sum of years)

= ($84,000 - $8,400) × 5 years ÷ (1 + 2 + 3 + 4 + 5)

= $75,600 × 5 years ÷ 15 years

= $25,200

And, the book value is

= Purchase cost - depreciation expenses

= $84,000 - $25,200

= $58,800

We simply applied the above formulas

6 0

4 years ago

if sales for april, may, and june were $60,000, $80,000, and $70,000, respectively, what were the firm's budgeted collections fo

xxTIMURxx [149]

We are required to calculate the collection to be made in the month of May.

Based on the credit policy, the collections for the month of May will be as follows:

10% of March Sales - No Information Available

60% of April Sales = 60,000 * .6 = $36,000.

30% of May Sales = 80,000 * .3 = $24,000.

Therefore, the total collection for May is $60,000 (36,000 + 24,000).

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7 0

1 year ago