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3 years ago

The decision making process followed by consumers to maximize utility assumes that

1 answer:

5 0

The decision-making process followed by consumers to maximize utility assumes that the consumer has a limited income, the consumer is able to rank their preferences, the consumer behaves rationally.
The term utility used by the economist as a measure of satisfaction, happiness, a joy of a person.

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Suppose that the Town of Mapledale is considering hiring an additional firefighter. The expected benefit is estimated to be wort

Radda [10]

Answer:

(B) Hire the firefighter if the cost of the new firefighter is less than $75,000.

Explanation:

The city should hire the Firefighter only if the cost of new firefighter is less than $75,000.

Since $5 x 15000 residents = $75, 000.

Therefore it is still beneficial to hire a new firefighter if the cost is less than $75, 000

5 0

3 years ago

When job 117 was completed, direct materials totaled $4,400; direct labor, $5,600; and factory overhead, $2,400. a total of 1,00

Viefleur [7K]

To solve: add up all in the labor costs and then divide by the number of units produced to get the per unit cost of the labor.

<span>Direct materials = $4,400
Direct labor = $5,600
Factory overhead = $2,400
Units produced = 1,000

Per unit cost = ($4,400 + $5,600 + $2,400)/1,000
Per unit cost = $12,400/1,000
Per unit cost = $12.40</span>

4 0

3 years ago

Which of the following is NOT a useful strategy when making an informed purchase?

kkurt [141]

The answer is 4, purchase a product based on a social media influencer.

this would not be an informed purchase

4 0

2 years ago

The principal-agent problem arises in labor markets because: Group of answer choices compensating wage differences do not pay fo

densk [106]

Answer:

workers may provide less-than-expected work effort.

Explanation:

Principal-agent problem

This is also called Agency problem. It is simply defined as a type of problem of motivating one party that is the agent just to act on behalf of another person which is the principal. This problems arise usually when incentives between the agent and the principal are not perfectly aligned or in tune.

This form of problem is also said to occur when agents example a firm's managers tends to run after their own personal goals rather than the goals of the principals who is the firm's owners.

Agency relationship

This form of relationship is said to occur if there is a set up or an arrangement in where one person's welfare is dependent or based on what another person does.

Agent

This is simply known as an Individual whose services has being employed by a principal so as to help achieve the principal's objective.

Principle

This is also known as a person who simply employs the services of one or more agents so as to obtain or achieve an objective.

6 0

2 years ago

Orioles Company bought Special Products Division in 2017 and appropriately recorded $741,000 of goodwill related to the purchase

goldfiish [28.3K]

Answer:

No goodwill impairment should be recognized by Orioles in 2018

Explanation:

Data provided in the question:

Goodwill related to the purchase = $741,000

Fair value of Special Products Division = $5,600,000

Goodwill existing on December 31, 2018 = $595,000

Now,

Here, the fair value of division including the goodwill i.e $5,600,000 is lower than the fair value of division excluding the goodwill i.e $595,000

Hence,

There will be impairment loss

Hence,

No goodwill impairment should be recognized by Orioles in 2018

4 0

3 years ago