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Vanyuwa [196]
3 years ago
15

Mark is an excellent cook. He does not have any formal training but learned to cook by following the recipes of several famous c

hefs and his mom. Every weekend, he invites friends over for dinner so he can try new dishes and get honest feedback from his friends. Mark wants to start his own restaurant someday because he thinks he would be successful and become wealthy. Which of Adam Smith’s ideas made Mark think of starting a restaurant? invisible hand
self-interest
competition
laissez-faire
Business
2 answers:
leva [86]3 years ago
4 0
Self-interest of course! Though you gave us no clue as to who is Adam... You can tell it's mostly self-interest due to the fact that he hasn't taken any class or anything on it. Looks to me that he genuinely just loves cooking!
QveST [7]3 years ago
3 0

Answer:

<u>Self-interest.</u>

Explanation:

Self-interest can be described as the set of actions that will help an individual achieve certain benefits.

For Adam Smith, when people act in their own personal interests, the greatest economic benefit is achieved, that is, self-interest and competition are the two major motivating forces capable of shaping economic activity, for individuals and companies possess the increased resources available such as labor and capital to achieve benefits from market activities to satisfy self-interest and thus boost supply and demand for goods and services.

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Explanation:

LIFO Inventory System sells the Inventory recently acquired first followed by the Older Inventory Acquired.

<u>Cost of the merchandise sold for November - Calculation</u>

November 4 : 10 units × $19    =$190

November 17 : 20 units × $20 =$400

Total                                          =$590

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Answer:

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If you intend to purchase Tata Nano, describe the stages in the purchase decision process.
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2 years ago
The owner of a bicycle repair shop forecasts revenues of $188,000 a year. Variable costs will be $57,000, and rental costs for t
Pachacha [2.7K]

Answer:

Adjusted accounting profit - $63,200

Cash inflow / Outflow - $63,200

Depreciation Tax shield - $63,200

Explanation:

Revenue - $188,000

Variable cost ($57,000)

Contribution                                             $131,000

Rental cost  ($37,000)

Depreciation (17,000)

                                                                  ($54,000)

PBIT                                                              77,000        

Income Tax (40%)                                        (30,800)

Net Income                                                   46,200

A) Adjusted Accounting profit

Add back non cash expenses (depreciation) = 46,200+$17000 =$63,200

B)Cash Inflow/Outflow

Revenue                                        $188,000

Variable cost                                   (57,000)

Rental cost                                       (37000)

Income Tax                                      (30,800)

                                                         $63,200

C Depreciation Tax Shield

Tax shield =40%*17,000= $6800

Cash income from operation (EBITDA*(1-tax rate) = 56,400

Add back $6,800 =                                                           6,800

                                                                                           $63,200

                                   

6 0
3 years ago
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