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Eva8 [605]
2 years ago
6

If austin can produce potato chips at a lower opportunity cost than william, then:_______

Business
1 answer:
Scorpion4ik [409]2 years ago
7 0

If Austin can produce potato chips at a lower opportunity cost than William, then Austin has a comparative advantage in the production of potato chips.

Comparative advantage refers to a situation in which an individual, business or country can produce a good or service at a lower opportunity cost than another producers or businesses.

In production a lower opportunity cost creates a comparative advantage. So here in this situation a comparative advantage in one good implies a comparative disadvantage in another.

Hence, comparative advantage is the ability of a producer to produce a good or service for a lower opportunity cost than its competitor.

To learn more about comparative advantage here:

brainly.com/question/28238063

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What are the benefits of a cooperative work experience
cupoosta [38]

Answer:

Earns college credit for working in the job field related to his/her career or educational goals.

Has the opportunity to earn money while learning.

Learns what work in the related career field is all about.

Increases employability and earning power.

Increases the potential to advance within the career field.

Explanation:

4 0
4 years ago
Read 2 more answers
Suppose that this pure monopoly is subjected to a regulatory commission. if the commission seeks to achieve the most efficient a
Vinil7 [7]

Suppose that this pure monopoly is subjected to a regulatory commission. if the commission seeks to achieve the most efficient allocation of resources for this industry, it should set the price at <u>P2</u>.

A monopoly is a scenario in which there is a single vendor in the market. In traditional financial evaluation, the monopoly case is taken as the polar contrary of ideal competition. with the aid of definition, the call for a curve going through the monopolist is the industry call for the curve that is downward sloping.

A marketplace shape is characterized by a single supplier, selling a completely unique product inside the marketplace. In a monopoly marketplace, the vendor faces no opposition, as he's the sole seller of goods with no close substitute.

A monopoly is a market structure that includes an unmarried vendor who has special management over a commodity or provider. The phrase mono way unmarried or one and the prefix pole in reveals its roots in Greek, meaning “to sell”. Consequently, the word monopoly literally translates to a single supplier.

Learn more about monopoly here: brainly.com/question/13113415

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5 0
2 years ago
The price of a video is ​$4 and the price of a dinner is ​$16. from this we know that a consumer who is maximizing utility will
kenny6666 [7]

b. buy enough of the two goods such that the marginal utility from the last dinner consumed is four times greater than the marginal utility from the last video.

This is because they are paying 4 times as much for the dinner so should get 4 times the utility from it.

3 0
3 years ago
During January, Ajax Co. Incurs 1,850 hours of direct labor at an hourly cost of $11.80 in producing 1,000 units of its finished
Brums [2.3K]

Answer:

Std rate per hour: 11.00    

Std hours = 1000*2 =2000    

Actual hours = 1850      

Actual rate = 11.80

   

Labor cost variance = Std cost - Actual cost    

Labor cost variance  = (2000*11) - (1850*11.80)

Labor cost variance = 170 Unfavorable

Labor rate variance = Actual hrs (Std rate - Actual rate)  

Labor rate variance = 1850 *(11-11.80)

Labor rate variance = 1480 Unfavorable

Labor qty variance = Std rate (Std hrs-Actual hrs)  

Labor qty variance = 11 (2000-1850)

Labor qty variance = 1650 Favorable.

5 0
3 years ago
The capitalized cost of land excludes:
svet-max [94.6K]

Answer:

(D) Property taxes for the first year owned.

Explanation:

Capitalized cost is an added expense of a fixed asset. This is not the price paid for an asset but an additional expense incurred overtime in the form of depreciation or amortization. Excluded in this cost is the property taxes for the first year owned. It is included in the cost basis of the asset.

4 0
4 years ago
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