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ch4aika [34]
3 years ago
6

An economy produces only food and shelter. There are two individuals in the economy: Bill and Mary. Mary's opportunity cost of p

roducing 1 unit of shelter is 2 units of food. Bill's opportunity cost of producing 1 unit of shelter is 4 units of food. Who has a competitive advantage?
Business
1 answer:
Lisa [10]3 years ago
4 0

Answer:

Mary

Explanation:

Mary has a competitive advantage and has a lower opportunity cost than Bill just having to sacrifice 2 units of food for 1 shelter, while Bill has to sacrifice 4 units of food for producing 1 unit of shelter. It is possible to observe this in the production relation:

Mary's productivity:

\frac{1}{2}=0.5

Bill's productivity:

\frac{1}{4}=0.25

We see that Mary has a higher productivity rate, which means that she has the competitive advantage

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Jackson is a 30 percent partner in the JJM Partnership when he sells his entire interest to Rhonda for $112,000 cash. At the tim
mart [117]

Answer: C. $48,000 capital gain

Explanation:

To calculate the Gain or loss on the sale of Jackson's interest we will subtract his adjusted basis from the sale of his entire interest in the following manner,

Gain(loss) on sale of interest = Amount realised - Adjusted basis in partnership

= 112,000 - 64,000

= 48,000

$48,000 will be his Gain on the sale of his interest. It will also be considered CAPITAL as he does not have Hot assets like inventory just equity.

3 0
3 years ago
Pete is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products. For his wife's birthday, he
andreev551 [17]

Answer:

GDP is not affected by Pete's production of the jewelry box.

Explanation:

Pete is a woodworker and works 20 hours to prepare a jewelry box to gift his wife. If Pete prepares this jewelry box to sell and earn revenue, this will be considered in GDP but in this case Pete prepares a jewelry box to give his wife as his wife's birthday gift.

All types of gifts received or given in kind are not included in Gross Domestic Production.

6 0
3 years ago
You are the newly assigned project manager for the James Madison construction project. To what document should you look for auth
Ipatiy [6.2K]

Answer:

The project Charter.

Explanation:

A project charter is a structured, generally short documents that outlines the project as a whole — including what the goals are, how it will be implemented, and who are the stakeholders. It is a crucial ingredient of project planning, since it is used throughout the life cycle of the project.

7 0
3 years ago
I dont have to pay for this right?
olga nikolaevna [1]

Answer:

no

Explanation:

7 0
2 years ago
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If the terms of a contract are _____________a court__________use ___________evidence, which is evidence outside the express term
xeze [42]

Answer:If the terms of a contract are ambiguous a court may use extrinsic

Explanation:

The ambiguity of the terms of the contract will force the court to look beyond the express terms of the contract and further looks into the extrinsic terms to be able to take a position on the contract.

8 0
3 years ago
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