The dean has asked the faculty to establish department-wide guidelines for testing. This situation is a (n) unstructured problem requiring a (n) non programmed decision.
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Explanation:</u></h3>
Nonprogrammed decisions are fiction, unstructured decisions that are frequently based on principles that are not clearly explained. With nonprogrammed decisions, erudition is more prone to be vague or inadequate, and the decision-maker may require to apply some thoughtful analysis and imaginative thinking to transfer a good solution.
These are also seldom termed as a nonroutine decision. Nonprogrammed decisions demand more extra time to decide; the decision-maker may require to handle research, accumulate further information, associate opinions and ideas from other people, and so on.
Goods made domestically and than sent to other countries and sold are called exports
Answer:
a. Accounting profits.
Account profit = Revenue - explicit cost
= 160,000 - 55,000
= $105,000
Present value of $105,000 per year for 3 years is:
= 105,000 * Present value interest factor of an Annuity, 3 years, 5%
= 105,000 * 2.7232
= $285,936
b. Economic profit
Economic profit = Revenue - explicit cost - implicit cost
= 160,000 - 55,000 - 70,000
= $35,000
Present value of $35,000 per year for 3 years:
= 35,000 * Present value interest factor of an Annuity, 3 years, 5%
= 35,000 * 2.7232
= $95,312
Note: The profits were treated as annuities as they were constant.
Answer:
positive externality
Explanation:
Positive externalities are events that occur when the production (or the consumption) of a good or service benefits third parties, most of the times involuntarily.
In this scenario, the panorama of flowers planted by Mr. Daisy generated an increase in business activity related to tourists coming to see Ms. Daisy's flowers.
Answer:
The correct answer is Variable Cost.
Explanation:
As its name implies, the variable cost is the one that undergoes constant changes as a consequence of the production process itself, represented in the behavior of demand. Its increase is directly related to the production of more raw material, which can happen at certain times. Otherwise, due to external conditions, decreases occur in order to serve the market effectively.