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3 years ago

Implicit cost is a

Business

1 answer:

Alex3 years ago

3 0

Answer: (C) Cost that represents the value of resources used in production for which no monetary payment is made

Explanation:

The implicit cost is one of the type of economical cost which represent the resources values in the production.

In the implicit cost no monetary payment is made that is actual payment in the opportunity cost.

Implicit cost is also known as national cost and the implied cost. The implicit cost refers to the cost which is using in the form of asset rather than selling it and this term is also refers to the foregone income.

Therefore, Option (C) is correct.

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In a system of 100-percent-reserve banking, a. banks do not accept deposits. b. banks can increase the money supply. c. banks do

zheka24 [161]

The correct option is C). banks do not influence the supply of money.

<h3>What is 100-percent-reserve banking?</h3>

100-percent-reserve banking, is a system of banking, in which banks only lend from time deposits instead of lending demand deposits.

In a system with 100 percent reserve banking, banks cannot make the loans and do not influence the supply of the money.

This system is also known as full-reserve banking.

Learn more about the 100-percent-reserve banking here:-

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2 years ago

Fabian’s factory produces and sells computers and gaming consoles. Over time, he determined that he could produce gaming console

Alona [7]

Answer:

D. Opportunity cost.

Explanation:

Based on the question, the only information we have to know what led Fabian's decission is the fact that it is <u>more profitable for him to produce gaming consoles than computer systems.</u>
Then, for him, it is costly to produce computer systems in terms of the earnings he would set aside if he does not produce gaming consoles (because he is producing computer systems instead).
Then, the opportunity cost of producing computer systems it is high: he could be earning more by producing gaming consoles.
Then, based on the opportunity cost, he decides to produce only gaming consoles.

6 0

3 years ago

Payne, Inc., a nonpublicly traded company, implemented a defined benefit pension plan for its employees on January 2, year 2. Th

Dovator [93]

Answer:

b. $25,000

Explanation:

For computing the pension liability amount, we need to do apply the formula which is shown below:

= Projected benefit obligation - Fair value of plan assets

= $103,000 - $78,000

= $25,000

The net periodic pension cost and the employer's contribution is not relevant. So, these items are ignored and hence not included in the computation part.

The excess amount is shown as a pension liability.

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4 years ago

A Japanese worker can produce 6 units of steel or 3 televisions per hour. A Korean worker can produce 8 units of steel or 2 tele

kifflom [539]

Answer:

2 and 4

Explanation:

Japanese worker can produce 6 units of steel or 3 televisions per hour.

Korean worker can produce 8 units of steel or 2 televisions per hour.

Opportunity cost is the cost of the lost alternative. So when the country decides to produce only televisions it has to give up on steel production. Thus, the units of steel forgone for each unit of television gained is an opportunity cost of a television.

$Opportunity cost = \frac{Units of Steel lost}{Units of Television gained}$

Thus,

Opportunity cost of television for Japan = $\frac{6}{3} = 2$

Opportunity cost of television for Korea = $\frac{8}{2} = 4$

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3 years ago

Immediately after graduating you bought a car with a bank loan of $20,000. The term of the loan is 5 years with monthly payments

xz_007 [3.2K]

Answer:

Explanation:

Principal borrowed =$20,000

Loan year=5years

Monthly interest =12%

We need to find the amount after 12years

Compound interest is give as

Using compound interest formula

A=P(1+r/n)^nt

Where,

P = principal amount = $20,000

r = annual rate of interest =12%=0.12

t = number of years the amount invested =5years

A = amount of money accumulated after n years, including interest.

n = number of times the interest is compounded per year=12months

Therefore,

A=P(1+r/n)^nt

A=20,000(1+0.12/12)^5×12

A=20,000(1+0.01)^60

A=20,000(1.01)^60

A=20,000×1.817

A=$36,333.9

So he is meant to pay $36,333.9 for 5years (60months)

Then he will pay

$36,333.9/60

He will pay $605.57 per month

So his twelfth payment is 605.47×12=$7266.78

Using is normal payment

He is suppose to pay $20,000 at a rate of $20,000/60=333.33

Then after the twelve payment, then he his supposed to pay $333.33×12=$4000

So the interest between on the twelfth payment is 7266.78-4000 =$3266.9

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3 years ago