Answer:
B. People do not like to act predictably, even with perfect information.
Explanation:
Rational choice theory states that people tend to make logical calculations when they are trying to make choices. This is aimed at making sure that choices made are in line with their objectives.
The expectation is to provide the individual with greatest satisfaction.
Therefore people choose the optimal solution and not just the acceptable one.
The individual's ability to conduct analysis can limit their rationality.
However the statement that people do not act rationally even with perfect information is in conflict with the rational choice theory
Answer:
There will zero economic profits in the long run.
Explanation:
Monopolistic competition is a market structure where there is a large number of firms producing differentiated products. There is very low or no restriction on the entry and exit of firms in the market.
The market for plumbing services in a city is a monopolistic competition. An increase in the market demand will cause the price to increase. This will cause an increase in the profits of the existing firms.
In the long run, new firms will enter the market, increasing the market supply. This will cause the price level to decrease till all the firms are having zero economic profits.
Answer:
collaboration
Explanation:
Collaboration is a term that describes a form of synergy which involves two or more individuals or groups operating together for the purpose of reaching a common goal of achieving mutual objectives.
Hence, COLLABORATION is important if people from different departments are going to work together to produce better outcomes than they could individually.
Answer:
The answer is:D) $226.78
Explanation:
To calculate the amount of money your grandfather deposited every 3 months during 52 years to get $289,209.11 we can use an excel spreadsheet and the payment function =PMT(rate,nper,pv,fv)
where:
- rate = 5.73% / 4 = 1.4325%
- nper = 52 x 4 = 208
- pv = 0
- fv = 289,209.11
PMT = $226.78
Answer:
The total cost of goods sold = $70,000
Explanation:
Given:
Initial inventory at the start of the year for Jackson Co. = $20,000
Total cost of purchases made during the year = $80,000
Inventory remaining at the end of the year = $30,000
Solution:
Total inventory for Jackson Co. during the year = 
Inventory remaining at the end of the year = $30,000
The cost of the goods sold can be calculated by subtracting the remaining inventory from the total inventory.
Thus, cost of goods sold can be given as :
⇒ 
⇒ 
The total cost of goods sold = $70,000
