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Harman [31]
3 years ago
7

Economic cost can best be defined as: (a) any contractual obligation that results in a flow of money expenditures from an enterp

rise to resource suppliers. (b) any contractual obligation to labor or material suppliers. (c) a payment that must be made to obtain and retain the services of a resource. (d) all costs exclusive of payments to fixed factors of production.
Business
1 answer:
Andreas93 [3]3 years ago
8 0

Answer:

(d) all costs exclusive of payments to fixed factors of production.

Explanation:

The cost involved in the first three options is considered by economists as accounting cost. Economic cost involves the accounting cost, but it is added to the opportunity cost, which is the remuneration that an economic agent fails to receive for practicing one economic activity and not another.

For example, a business owner has fixed production costs, but it should add to his opportunity cost to be working in that firm rather than another economic activity.

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PLEASE HELP ASAP, I NEED TO DO THIS BUT DONT KNOW HOW TO. Describe how free markets solve the problem of coordination. Why do co
Strike441 [17]
The advantage of a free market economy is that when it works it can both be reward and perpetuate innovation But they are inherently more risky and does tend to favor those more capital and resources . In an Economic make system with multiple equilibria coordination failure occurs when a group of firms could achieve a more desirable equilibrium but fail to because they do not coordinate their decision making
6 0
2 years ago
The last step in the marketing process often includes: collecting the cash from sales to consumers. developing a written report
pochemuha

Answer: developing a written report to summarize the results of the period's marketing activities.

Explanation:

The last step in the marketing process often is developing a written report to summarize the results of the period's marketing activities.

Developing a written report to summarise the results of the marketing activities is necessary in order to evaluate the performance of the marketing activity and also learn from past mistakes which have previously affected the company.

These are vital in order to capture a good market share in the future and also achieve organizational goals.

6 0
3 years ago
Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS.
geniusboy [140]

Answer:

B. 60%

Explanation:

Labor force participation rate = Number in labor force/Adult population*100

=3/5*100 = 60%

3 0
2 years ago
The Good Chocolate Company makes a variety of chocolate candies, including a 12-ounce chocolate bar (340 grams) and a box of six
joja [24]

Answer:

A) ≈ 3.509 grams

B) The process is not capable because the lowest Cpk which is 1.89 ≈ 1.9 is far from the ideal 1.33 capability index number ( NO )

c) 1.051 ounces

Explanation:

A) The largest standard deviation ( in grams)

This can be calculated applying the capability index formula and according to the capability index formula the value at which a process is capable is at  : 1.33

hence the largest standard deviation =  upper limit - lower limit / 6 * 1.33

 ( 354 - 326 ) / 7.98 = 3.5087 ≈ 3.509 grams

B) we first calculate the process mean and std of the box

standard deviation = \sqrt{variance }

std of the six-bar box = \sqrt{6*0.86^2}  = 2.106

process mean = 6 * ( 1.03 * 28.33) = 175.079

the mean is not centered between the upper specification and the lower specification hence we will apply the formulae used in calculating the capability index for an uncentered process

Cpk = (upper value - process mean) / (3 * std of box),

         = (187 - 175.079) / ( 3 * 2.106) = 11.921 / 6.318 = 1.89

Cpk =  (process mean -  lower value ) / (3*std of box)

       = ( 175.079 - 153 ) / (3 * 2.106) = 22.079 / 6.318 = 3.49

The process is not capable because the lowest Cpk which is 1.89 ≈ 1.9 is far from the ideal 1.33 capability index number ( N0 )

c ) lowest setting

calculate the value of the mean using capability index of 1.33

Cpk = (upper value - mean ) / 3 * std

mean = 187 - 1.33 * 3 * 2.106

           = 187 - 8.40 = 178.60 grams

Cpk = ( process mean - lower value ) / 3 * std

 mean = 1.33 * 3 * 2.106 + 153

            = 8.40 + 153 = 161.40 grams

the lowest setting in ounces

= 178.60 / ( 6 bar * 28 .33)

= 178.60 / 169.98 = 1.051 ounces

5 0
3 years ago
Horace is seeking to exchange money in preparation for his trip to Uruguay. He will need 5,000 Uruguayan pesos, and the exchange
STatiana [176]

Answer:

d. $ 263.50

Explanation:

The Exchange  rate is 1 dollar = 19.924 Uruguayan Peso.

We need to buy 5000 Uruguayan pesos but the agent requires a comision of  a 5%  when converting currency, so really we will need to buy:

5,000 Uruguayan pesos + 5,000 Uruguayan pesos* 0.05 = 5,250 Uruguayan pesos.

Now if we apply the given exchange rate we will obtain the amount of US Dollars we need:

x U$S = (5,250 Ur.$)/(19,924 Ur.$/U$S)= 263,50 U$S needed

7 0
2 years ago
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