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Slav-nsk [51]
4 years ago
12

Given that resources are scarce, Multiple Choice 1. A "free lunch" is possible, but only for a limited number of people. 2. Oppo

rtunity costs are experienced whenever choices are made. 3. Poor countries must make choices, but rich countries with abundant resources do not have to make choices. 4. Some choices involve opportunity costs while other choices do not.
Business
1 answer:
Semmy [17]4 years ago
5 0

Answer:

Opportunity cost are experienced whenever choices are made

Explanation:

Scarce resources means the shortage or unavailability of resources required for production of goods and services . In fact economists believe that all resources are scarce because of the limit to the availability of factors of production involved in the production.

To manage scarcity , economist came up with the principle of opportunity cost.

Opportunity cost is the cost of the alternative forgone while making a choice.

This means that as a man may not be able to meet up with all his needs due to scarcity of resources , he will need to select the ones that are of utmost importance and forgo the other needs on the list , whichis the opportunity cost of the transaction.

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Sherri's Tan-O-Rama is a local tanning salon. The following information reflects its number of appointments and total costs for
Sidana [21]

Answer:

Variable cost per unit= $6.5 per unit

Fixed costs= $3,750

Explanation:

Giving the following information:

Month - Number of Appointments - Total Cost

January: 375 $5,050

February: 350 $5,500

March: 200 $5,200

April: 500 $7,000

May: 400 $5,650

June: 300 $5,200

To calculate the variable and fixed costs, we need to use the following formulas:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (7,000 - 5,050) / (500 - 200)= $6.5 per unit

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 7,000 - (6.5*500)= $3,750

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 5,050 - (6.5*200)= $3,750

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4 years ago
Which term describes the group of people elected to run a corporation?
alexandr402 [8]
Board of Directors - this is a group of people (not necessarily even employees of the company) who have been elected to an advisory position because of their individual expertise.
3 0
3 years ago
Fill in the Blanks:
Andrew [12]
I may know some of the answers but its to much that I cant guess all of them. Sorry!
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The person in charge of managing the reputation of a brand is called?
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Brand management.

Explaination: Basically the most legit answer

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3 years ago
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2. The feature of the general version of the arbitrage pricing theory (APT) that offers the greatest potential advantage over th
Simora [160]

Answer: Use of several factors instead of a single market index to explain the risk-return relationship

Explanation:

Arbitrage pricing theory (APT) is when the return on an asset is forecasted when the linear relationship which exist between the expected return of the asset and the macroeconomic variables are being considered.

Capital Asset Pricing Model (CAPM) helps in showing the relationship that take place between systematic risk and an asset expected return.

The feature of the general version of the arbitrage pricing theory (APT) that offers the greatest potential advantage over the simple CAPM is the use of several factors instead of a single market index to explain the risk-return relationship as it's more robust when compared to the CAPM.

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3 years ago
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