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nevsk [136]
1 year ago
8

The ________ states that the opportunity cost of producing a good always rises as one produces more of it. group of answer choic

es
Business
1 answer:
quester [9]1 year ago
6 0

The <u>law of increasing relative cost </u>states that the opportunity cost of producing a good always rises as one produces more of it.

According to the law of increasing costs, production eventually loses efficiency as it grows. The labor expenses for each additional item will increase, for instance, if increased production requires overtime work from your workforce.

Opportunity cost is the value of other commodities or services you must forgo in order to get your desired item. The term "cost" as used by economists often refers to opportunity cost. Cost is frequently mentioned in conversations or on the news.

According to the law of increasing opportunity cost, the cost of manufacturing the next unit rises as you keep up with the production of a given good.

Find more about opportunity cost

brainly.com/question/24229740

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The Intramural Sports Club reports sales revenue of $578,000. Inventory at both the beginning and end of the year totals $110,00
Genrish500 [490]

Answer:

$363,500

Explanation:

Gross profit = Revenue - Cost of Goods Sold.

In the case

Revenue = $578,000.

The Cost of Goods Sold: COGS

Inventory turn over = COGS/ Average turnover

Average turnover = Opening stock + closing stock/2

In this case Opening stock + Closing stock = $110,000

Average turnover = $110,000 /2 =$55,000

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3.9 = COGS/$55,000

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3 0
2 years ago
The following situations should be considered independently. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $
Naddika [18.5K]

Answer:

1. John Jamison Approximately how long will it take John to reach his goal?

8.

2. Jasmine Company What is the interest rate implicit in this agreement?

8,77%

3. Sam Robinson What is the annual payment Sam must make to pay back his friend?

2416,815107

Explanation:

                          PV          x Int Rate x+int.rate N y    y*PV  

1. John Jamison 30000 1 10%          110% 8 2,143 64307,6643 64307

       

2.Jasmine Company N Monthly principal interest Net value    

    33.494    

1 6.000 3.062 2.937 30.432    

2 6.000 3.331 2.669 27.101    

3 6.000 3.623 2.377 23.477    

4 6.000 3.941 2.059 19.536    

5 6.000 4.287 1.713 15.250    

6 6.000 4.662 1.337 10.587    

7 6.000 5.071 929 5.516    

8 6.000 5.516 484 0    

       

       

Loan 33494      

Monthly: 8      

Interest: 8,77%      

Monthly payment 6.000      

       

3. Sam Robinson N Monthly principal interest Net value    

                                                       15000    

1 2416,815107 766,815107 1650         14233,18489    

2 2416,815107 851,1647687 1565,650338 13382,02012    

3 2416,815107 944,7928933 1472,022214 12437,22723    

4 2416,815107 1048,720112 1368,094995 11388,50712    

5 2416,815107 1164,079324 1252,735783 10224,4278    

6 2416,815107 1292,128049 1124,687058 8932,299746    

7 2416,815107 1434,262135 982,5529721 7498,037611    

8 2416,815107 1592,03097 824,7841372 5906,006641    

9 2416,815107 1767,154376 649,6607306 4138,852265    

10 2416,815107 1961,541358 455,2737492 2177,310907    

11 2416,815107 2177,310907 239,5041998 0    

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3 years ago
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