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Anastasy [175]
1 year ago
5

A rational choice is ______. a. made by comparing marginal benefit and marginal cost

Business
1 answer:
mr Goodwill [35]1 year ago
5 0

A rational choice is made by comparing marginal benefit and marginal cost

<h3>What is marginal cost?</h3>

The marginal cost in economics is the change in total cost that occurs when the amount produced is increased, or the cost of producing more quantity.

The law of declining marginal utility asserts in economics that the marginal usefulness of a good or service decreases as an individual consumes more of it. Consuming incremental amounts of a good provides less and less satisfaction to economic agents.

Marginal cost is an important concept in economic theory because a corporation seeking to maximize profits will produce until marginal cost (MC) equals marginal revenue (MR) (MR). After then, the cost of creating an additional item will outweigh the money generated.

To know more about marginal cost follow the link:

brainly.com/question/11689872

#SPJ4

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A firm has redesigned its production process so that it now takes 10 hours for a unit to be made. Using the old process, it took
Citrus2011 [14]

Answer:

Reduction in work in progress = $7500

Explanation:

given data

time = 10 hours

time = 15 hours

worth  = $1,500

to find out

reduction in work in process value

solution

we find work in progress   by this formula

work in progress  = Flow rate  × Cycle Time     .......................1

so Initial work in progress is

Initial work in progress   = (1 per hour)  × 10 hours = 10

and Final work in progress is here

Final work in progress   = (1 per hour) × 15 hours = 15

so

Initial work in progress   value = 10  × 1500

Initial work in progress   value= $15000

and

Final work in progress    value =15  × 1500

Final work in progress    value = $22500

so

Reduction in work in progress = $22500 - $15000

Reduction in work in progress = $7500

4 0
3 years ago
HELP FAST PLEASE!!!!! Information you should consider when researching and comparing careers include all of the following except
Butoxors [25]

Answer:

What your friends are doing.

Explanation:

The reason why the answer is what your friends are doing, is because it is in most cases, unnecessary. Even though it might seem like it is necessary, but if you really think about it, you are looking for jobs FOR YOU and you alone. What your friends are doing for their career, will most likely differ from what you would want to do.

7 0
3 years ago
How much money was spent on black friday this year?
Tatiana [17]

Answer:

a lot of money was spent this year

5 0
2 years ago
The older term, social service, referred to advancing human welfare. The new term, meaning to provide for the needs of various p
Mazyrski [523]

Answer:

Social welfare

Explanation:

The term <u><em>“social welfare”</em></u> does not have a precise definition. Currently, social welfare refers to a wide range of activities and services by volunteers, non-profit organizations and governmental agencies providing help to needy persons unable to care for themselves; activities and resources designed to enhance or promote the well-being of individuals, families and the larger society; and efforts to eliminate or reduce the incidence of social problems

8 0
3 years ago
Beto Company pays $4.70 per unit to buy a part for one of the products it manufactures. With excess capacity, the company is con
Anastasy [175]

Here, we are decide the best option between making the part or buying the part.

a.                  Make or Buy Analysis

Particulars                              Make amount    Buy amount

Direct Materials                            $4.50

Direct Labor                                $1.00  

Overhead (80% of Direct Labor)    $0.80  

Cost to buy                            <u>              </u>            <u>$4.70</u>

Cost per unit                              <u>$5.70    </u>          <u>$4.70</u>

Cost Difference = $5.70 - $4.70

Cost Difference = $1.00

Therefore, the cost difference of making amount over buying amount is $1.00.

b. Because of the difference, Beto should buy the part because its cost is lesser than to make the part.

Therefore, the buying of the part is the best decision.

See similar solution about Analysis

<em>brainly.com/question/23287319</em>

3 0
2 years ago
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