Scarcity means that there are more wants than one can meet based on the limited amount of resources.

A new public works project requires 20,000 hours of labor to complete. a. Suppose the labor market is perfectly competitive and

Bumek [7]

Answer:

a. $300,000

b. $200,000

Explanation:

a. The opportunity cost for labor is calculated by multiplying the hours of labor needed to complete the project with the market wage rate.

20,000 hours * $15 per hour = $300,000

b. There are some labors that are unemployed and has agreed to work for $10 per hour. The opportunity cost will now be lower than the previously calculated

20,000 hours * $10 per hour = $200,000

c. The opportunity cost depends on the wage rate of the labor. When the labors are employed at market rate, the opportunity cost is high and when there is unemployment the labors are willing to work for lower wage rate. The opportunity cost is decreased.

6 0

3 years ago

Which of the following priority rule will minimize the average flow time of jobs and also perform well in other measures such as

olga nikolaevna [1]

Answer:

LCFS

Explanation:

8 0

3 years ago

A company purchased a computer system on January 2, 2018 for $1,600,000. The company used the straight-line depreciation method

Anna007 [38]

Answer:

B. Loss on sale is $12,500

Explanation:

The equipment purchase on 1st January 2018. The equipment is sold of 1st July 2020. The duration for accumulated depreciation is 2.5 years. Using straight line method the depreciation will be:

[ 1,600,000 - 130,000 ] / 8 years * 2.5 years = 612,500

The book value for the equipment is 1,600,000 - 612,500 = 987,500

The equipment is sold for 1,000,000

There is gain on disposal of 12,500.

4 0

3 years ago

Hidalgo is primarily liable on a promissory note. Because of this, he: a. is required to pay, unless he has a valid defense to p

MatroZZZ [7]

Answer:

The correct option is A

Explanation:

Promissory note is the kind or type of note which is considered to be a financial instrument,and it comprise of a written promise made by one party to another party in order to pay a specific or particular amount or sum of money or amount, either on a particular or a future date or on demand by the party.

This note involve the terms that are pertaining to the indebtedness like the maturity date, issuer signature, principal amount, place of issuance and the interest rate.

Therefore, Hidalgo is liable on the promissory note and because of this, he is required to pay until he has a valid and a genuine defense to payment.

4 0

3 years ago

Refer to the following selected financial information from Shakley's Incorporated. Compute the company's return on total assets

hammer [34]

Answer:

15.2%

Explanation:

Return on Total Asset is the ratio of net income ratio to total asset of the company. It measure the productivity and efficiency of all the assets used to generate this net income.

As per given Data

Year 2 Year 1

Net sales $478,500 $426,250

Cost of goods sold $276,300 $250,120

Interest expense $9,700 $10,700

Net income before tax $67,250 $52,680

Net income after tax $46,050 $39,900

Total assets $317,100 $288,000

Total liabilities $181,400 $167,300

Total equity $135,700 $120,700

Formula for Return on total assets

Return on Total Assets = ( Net income / Average total assets ) x 100

Now we need to calculate the average Assets

Average Assets = ($317,100 + $288,000) / 2 = $302,550

Net Income for year 2 = $46,050

Placing values in the formula

Return on Total Assets = ( $46,050 / $302,550 ) x 100

Return on Total Assets = 15.2%

7 0

3 years ago