Answer:
$44,000
Explanation:
Calculation to determine how much of the $50,000 bill will the insurer pay
Total bill for medical services $50,000
Less medical expense policy calendar-year deductible ($1,000)
Less annual out-of-pocket limit $5,000
Bill payment $44,000
($50,000-$1,000-$5,000)
Therefore how much of the $50,000 bill will the insurer pay is $44,000
Answer:
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Explanation:
The cars it produces in the U.S. are added to U.S. GDP, but not U.S. GNP, as these cars use domestic factors of production (labor and resources), but are produced by a foreign nation. Conversely, the values are added to Japan's GNP, but not Japan's GDP.
Answer:
Option "C" is correct.
Explanation:
This occurs when the portion of the marginal cost curve is above its average cost curve.
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Complete Question:
1. Select the correct statement regarding relevant costs and revenues.
A. Sunk costs are not relevant for decision-making purposes.
B. Relevant costs are frequently called unavoidable costs.
C. Direct labor is an example of a unit-level cost.
D. Only variable costs are relevant for decision making.
Answer:
1. A
2. D
3. B
Explanation:
1. The correct statement regarding relevant costs and revenues is that sunk costs are not relevant for decision-making purposes. Sunk costs are the opposite of relevant costs because they can't be changed or recovered, as they've been spent or contracted in the past already. Hence, relevant cost are relevant for decision-making purposes but not sunk costs.
2. Expected future revenues that differ among the alternatives under consideration are often referred to as differential revenues. It is the difference in revenues among two (2) alternatives, which would influence decision making.
3. The benefits sacrificed when one alternative is chosen over another are referred to as opportunity costs. It is also referred to as alternative forgone.
<em>For example, Tony gives up going to see a new movie at the cinema in order to prepare for an examination, so as to get a good grade</em>.
