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Setler [38]
3 years ago
8

What is the law of comparative advantage?

Business
1 answer:
Lelu [443]3 years ago
3 0

<u><em>A country is better off producing the goods and services that it has a comparative advantage supplying.</em></u>

<u><em></em></u>

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Toys Unlimited has the following cost data available. Direct Materials are $99 per unit. Direct Labor is $55 per unit. Variable
r-ruslan [8.4K]

Answer:

c. $229

Explanation:

To compute the total absorption cost per unit we do the following,

Absorption of fixed costs = Fixed costs / units produced

Absorption cost = 200,000 / 4000 = $50/unit

Total cost of each individual unit = 99 + 55 + 25 + 50 = $229

This includes direct material, direct labor, manufacturing overhead and the fixed absorption cost.

With absorption costing we take all the goods produced in a period as denominator for the Fixed costs.

Hope that helps.

5 0
3 years ago
Kevin has $20 to spend on summer clothes. He is looking at shirts, shorts, and flip-flops. Shirts are $10, shorts are $15, and f
Elan Coil [88]
<span>Kevin has analyzed the situation well. However, he should also consider the fact that he saved $10 by only purchasing the shirt.

Opportunity cost is the cost of the forgone alternative. Out of the 3 choices, he only purchased 1 of the choices, the opportunity cost are the other two choices. However, he is still capable of buying the flip-flops costing $10 but he chose not to do so. He should consider it as a savings aside from it being a lost opportunity.</span>
7 0
3 years ago
If the employer is tardy in paying the state contributions, the credit against the federal tax is limited to what percent of the
Masteriza [31]

Answer:

B) 90%

Explanation:

In order for an employer to qualify for the maximum credit against FUTA taxes (Federal Unemployment Tax Act), they have to file their annual return in time and also pay their state contributions in time. If they file their report late or miss the  state contributions due date, they will be sanctioned by lowering the maximum credit from 5.4% to 4.86% (90% of maximum credit).  

3 0
3 years ago
Resale price maintenance occurs when: a. the manufacturer suggested retail price. b. minimum prices are enforced. c. consignment
Gemiola [76]

Answer:

b. minimum prices are enforced

Explanation:

The manufacturer of certain products deals with their distributors by exploiting the market failures to negotiate ceiling and minimum prices with the threat of not purchase if the agreement is not validated.

This is done to prevent competition between reseller for the price. This makes the reseller profitable and therefore, the manufactured as well.

6 0
3 years ago
Asymmetric information occurs when A. everyone has the same information. B. people engaging in a transaction are uncertain about
melisa1 [442]

Answer:

Option (D) is correct.

Explanation:

Asymmetric information occurs in a situation in which one of the two parties involved in a particular transaction have more information than the other party. This problem mostly occurs in a health insurance market where the a person to be insured have more information about his health than the insurance company.

Asymmetric information will result in two problems are as follows:

(i) Adverse selection

(ii) Moral hazard

8 0
3 years ago
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