Answer:
A business may be constrained by a variety of licensure and other regulatory requirements, based on the industry and activities the business wants to pursue. For example, a lawyer must obtain a legal license in a particular state before he can open a practice in that state.
Answer:
(d) Leniency
Explanation:
Based on the information provided within the question it can be said that this scenario is an example of leniency. This is a rater's bias in which a rater gives an individual a rating that may be a little too positive based on the factors that they need to be taking into account when rating. Such as is the case in this scenario since Linda gave Jan excellent ratings even though her performance is average at best.
Answer:
c. $272
Explanation:
Overhead costs (O) = $10,000 per month
Direct production costs (Pc) = $136 per unit
Units produced (n) = 1,600 units
The total manufacturing cost per unit for a production activity of 1,600 units is given by:
For a desired gross profit per unit of $61, the selling price should be:
The answer is c. $272
The answer of the above question is
Explicit and Implicit costs should be considered when measuring economic profit because a business must cover its opportunity costs as well as its out-of-pocket expenses to be truly profitable. Economic profit consists of revenue minus implicit (opportunity) and explicit (monetary) costs. Explicit costs are monetary costs a firm has. Implicit costs are the opportunity costs of a firm’s resources.
