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3 years ago

How does scarcity affect Trey?

Business

1 answer:

Diano4ka-milaya [45]3 years ago

6 0

Answer:

The answer is: All our actions and decisions are affected by scarcity. Trey must decide what actions he needs to take to maximize his well being.

Explanation:

By definition all resources are finite, they have a limit. Even the richest corporations in the world have a certain amount of money, no one can have infinite money. No basketball team is made up of 7 billion people, someone in the world will not be able to play basketball. Time, materials, goods, services, everything is limited, so everything is scarce.

Trey´s (and everyone else´s) day is only 24 hours long, so he must decide how to divide his time to achieve the goals that maximize his happiness or well being. He must decide what is most important for him, a car or the basketball team. Time scarcity sets up a limit on the decisions we make. He must decide whether to work more to be able to buy the car, or should he stay on the team and forget about the car. Only Trey can decide based on what will make him happier.

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For a recent year, McDonald's Company-owned restaurants had the following sales and expenses (in millions): Sales $25,700 Food a

Aleks [24]

Answer:

a. $9,338

b. 0.363

Explanation:

a. Contribution Margin = Sales - Variable Cost

Where Sales = $25,700

Variable Cost = Food & Packaging + Payroll + 40% x General, Selling and Administrative expenses

V.C. = 8,982 + 6,500 + 40% * 3,700

V.C = 8,982 + 6,500 + 1,480

= $16,362

Therefore, Contribution Margin = Sales - Variable Cost

= $25,700 - $16,362

=$9,338

b. McDonald's contribution margin ratio = Contribution Margin / Sales

= $9,338 / $25,700

= 0.363

6 0

4 years ago

The following information pertains to Crane Video Company:

Mashutka [201]

Answer:

Prepare Bank Reconciliation Statement

Balance at Bank as per Cash Book - Up to date $7,972

Less Lodgements not yet credited : ($1,300)

Add Unpresented Cheques $591

Balance as per Bank Statement $7,263

Adjusting Entries

Bank service charge $28 (debit)

Cash $28 (credit)

Cash $700 (debit)

Note - Receivable Crane $700 (credit)

Cash $36 (debit)

Interest Income $36 (credit)

Service Fee $20 (debit)

Cash $20 (credit)

Explanation:

First Update the Cash Book as follows:

Debit :

Cash balance $7,284

Crane $700

Interest $36

Totals $8,020

Credit:

Bank service charge $28

Crane : fee $20

Balance - Up to date $7,972

Totals $8,020

Then, Prepare Bank Reconciliation Statement

Balance at Bank as per Cash Book - Up to date $7,972

Less Lodgements not yet credited : ($1,300)

Add Unpresented Cheques $591

Balance as per Bank Statement $7,263

Adjusting Entries

Bank service charge $28 (debit)

Cash $28 (credit)

Cash $700 (debit)

Note - Receivable Crane $700 (credit)

Cash $36 (debit)

Interest Income $36 (credit)

Service Fee $20 (debit)

Cash $20 (credit)

7 0

3 years ago

The operating ratio for a PC insurer equals _________. A. loss ratio plus the ratios of loss adjustment expenses to premiums ear

FinnZ [79.3K]

Answer:

. E. combined ratio after dividends minus the investment yield

Explanation:

The operating ratio for a PC insurer

can be regarded as the comparison of total expenses of a company compared to net sales generated or the generated revenue. The operating ratio gives the measurement of a overall operational profitability of a firm from both underwriting as well as investment activities. It can be calculated by finding the ratio of

(property's operating expense after substraction of depreciation) and ( the gross operating income). It should be noted that The operating ratio for a PC insurer equals combined ratio after dividends minus the investment yield.

8 0

3 years ago

A company is considering two designs for a machine in its manufacturing line. The first, called machine A, will cost $160000 in

ExtremeBDS [4]

Answer:

The indifference point is 1,410 units

Explanation:

Giving the following information:

Machine A:

Fixed costs= $160,000

Unitary variable cost= $80

Machine B:

Fixed costs= $270,000

Unitary variable cost= $2

First, we need to structure the total cost formula for each machine:

Machine A= 160,000 + 80x

Machine B= 270,000 + 2x

x= number of units

Now, we equal both formulas and isolate x:

160,000 + 80x = 270,000 + 2x

78x = 110,000

x= 110,000/78

x= 1,410 units

The indifference point is 1,410 units

6 0

3 years ago

One of the best ways to prevent workplace violence is to recognize the warning signs

AVprozaik [17]

The attitude toward each other.

7 0

3 years ago