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leonid [27]
10 months ago
15

What is the difference between comparative advantage and absolute advantage?

Business
1 answer:
goldenfox [79]10 months ago
6 0

Answer:

Absolute Advantage: The ability of an actor to produce more of a good or service than a competitor.

Comparative Advantage: The ability of an actor to produce a good or service for a lower opportunity cost than a competitor.

Explanation:

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Vhich of the following is a description of a pullback device?
MrMuchimi

Answer:

Explanation:

A

8 0
3 years ago
John likes Coca-Cola. After consuming one Coke, John has a total utility of 10 utils. After two Cokes, he has a total utility of
gulaghasi [49]

Answer:

No, he doesn't show diminishing marginal utility. Yes, he shows increasing marginal utility for Coke.

Explanation:

The law of diminishing returns states that the marginal or addition satisfaction or utility derived from the consumption of a product increase until a pint and then starts to  decrease.

Units         Total utility       Marginal utility

1                    10                          10        

2                   25                         15                    

3                   50                         25

After 3 bottles, John does not show diminishing marginal utility as the marginal utility (as shown above) continues to increase with each additional bottle of coke consumed.              

8 0
3 years ago
Lindsay Corporation had net income for 2018 of $3,000,000. Additional information is as follows: Depreciation of plant assets $1
melamori03 [73]

Answer:

Net cash provided by operating activities for 2018 was $4,560,000

Explanation:

The net cash provided by operating activities can be computed by preparing the operating activities of the statement of cash flow as shown below:

Net income for the year                          $3,000,000

add depreciation                                      $1,200,000

add amortization                                       $240,000

deduct increase in accounts receivable ($420,000)

add increase in accounts payable           $540,000

net cash provided by operations             $4,560,000  

The cash provided by operating activities is $4,560,000  

The rationale for deducting increase in accounts receivable is that the increase deprived Lindsay corporation cash of $420,000.

4 0
3 years ago
A company is assessing opportunities in the BRIC countries and determines that ________ is one of the youngest populations in th
san4es73 [151]

A company is assessing opportunities in the BRIC countries and determines that India is one of the youngest populations in the world and is increasingly adopting global attitudes.

Explanation:

The BRIC classification acronym refers to the nations of Brazil, Russia, India and China that are perceived to be developing nations working their way towards becoming developed nations during a similar stage of newly established economic growth.

India is among the youngest people worldwide with such a median age of 26.7 years. Her young people are becoming more and more urban, residing in growing cities and shopping in malls.

There is a shortage of modern facilities and structures to handle India's retail environment. India's population, especially in technical fields, is highly skilled.

6 0
2 years ago
Using FIFO for Multiproduct Inventory Transactions (Chapters 6 and 7) [LO 6-3, LO 6-4, LO 7-3] Skip to question [The following i
expeople1 [14]

Answer:

1-a. Dollars of gross profit from selling tags = $9,180

1-b. Dollars of gross profit from selling cases = $1,500

1-c. Gross profit percentage from selling tags = 72.86%

1.d. Gross profit percentage from selling cases = 83.33%

2-a. Tag yields more dollars of profit.

2-b. Tag yields more profit per dollar of sales.

Explanation:

Note: The requirements for this question are two not three as erroneously stated. This is because, the first and the third question are the same. Therefore, the two relevant requirements of the question are:

1. Calculate the dollars of gross profit and the gross profit percentage from selling tags and cases.

2. Which product line yields more dollars of profit? - Which product line yields more profit per dollar of sales?

The explanation of the answers is now given as follows:

1. Calculate the dollars of gross profit and the gross profit percentage from selling tags and cases.

Sales revenue from tags = Sales value of 160 tags mailed to customers on Jan. 8 at a price of $30 per tag + Sales value of 260 tags mailed to customers on Jan. 21 at a price of $30 per tag = (160 * $30) + (260 * $30) = $12,600

Sales revenue from cases = Sales value of 120 cases mailed to customers on Jan. 19 at a price of $15 per case = 120 * $15 = $1,800

Total number of tags sold = 160 tags mailed to customers + 260 tags mailed to customers on Jan. 21 = 420

Total number of cases sold = 120 cases mailed to customers on Jan. 19 at a price of $15 per case = 120

Using FIFO, we have:

Cost of tags sold = Value of 260 tags purchased on Jan.2 from Xioasi Manufacturing (XM) at a cost of $7 per tag + Value of the remaining 160 (i.e. 420 – 260 = 160) tags sold based on the 360 tags purchased on Jan. 11 from XM at a cost of $10 per tag = (260 * $7) + (160 * $10) = $3,420

Cost of cases sold = Value of 60 cases purchased on Jan.4 from Bachittar Products (BP) at a cost of $2 per case + Value of the remaining 60 cases sold based on the 160 cases purchased on Jan. 14 from BP at a cost of $3 per case = (60 * $2) + (60 * $3) = $300

Therefore, we have:

1-a. Dollars of gross profit from selling tags = Sales revenue from tags - Cost of tags sold = $12,600 - $3,420 = $9,180

1-b. Dollars of gross profit from selling cases = Sales revenue from cases - Cost of cases sold = $1,800 - $300 = $1,500

1-c. Gross profit percentage from selling tags = (Dollars of gross profit from selling tags / Sales revenue from tags) * 100 = ($9,180 / $12,600) * 100 = 72.86%

1.d. Gross profit percentage from selling cases = (Dollars of gross profit from selling cases / Sales revenue from cases) * 100 = 83.33%

2. Which product line yields more dollars of profit? - Which product line yields more profit per dollar of sales?

2-a. Which product line yields more dollars of profit?

From part 1 above, we have:

Dollars of gross profit from selling tags = $9,180

Dollars of gross profit from selling cases = $1,500

Since the dollars of gross profit from selling tags of $9,180 is greater than the dollars of gross profit from selling cases of $1,500, this implies that Tag yields more dollars of profit.

2-b. Which product line yields more profit per dollar of sales?

From part 1 above, we have:

Total number of tags sold = 420

Total number of cases sold = 120

Therefore, we have:

Tag's profit per dollar of sales = Dollars of gross profit from selling tags / Total number of tags sold = $9,180 / 420 = $21.86

Case's profit per dollar of sales = Dollars of gross profit from selling cases / Total number of cases sold = $1,500 / 120 = $12.50

Since Tag's profit per dollar of sales of $21.86 is greater than Case's profit per dollar of sales of $12.50, this implies that Tag yields more profit per dollar of sales.

6 0
3 years ago
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