Answer:
2. Brett is a farmer with an open field on which he can plant either soybeans or corn.
Explanation:
Scarcity in economics means the resources available to meet man's needs are limited or scarce.
In brett's case, land is limited, so he has to choose between planting soybeans and corn.
I hope my answer helps you
Answer:
Explanation:
If a company(Marriott in this case) uses a single hurdle rate to decide whether an investment should be undertaken or not, some projects that need to be accepted would end up being rejected and vice versa. For example,
if Marriott's hurdle rate is 10% and it's evaluating
project A with a 15% cost of capital &
project B with a 6% cost of capital .
Evaluation:
Project A would probably lead to a negative NPV because the cost of capital is higher (meaning it is riskier than the firm) hence could be rejected, but using the company hurdle rate of 10% to evaluate it could make its NPV positive. This would ignore the actual additional risk of the project.
The answer to this question is Response
Response is the action that taken by company after experiencing a certain stimulus from the situation in the market.
In this case, zecola response the action taken by its competitor in order to maintain it's positioning in the market
Answer:
1. Based on her years of experience, Joan Johnson can answer the question by detailing the advantages and disadvantages of incorporating in each state for the client.
2. If Joan does not feel confident enough to address the question, then she can refer the matter to her supervisor.
3. If Joan answers, the client will derive immediate satisfaction and will be confident to continue the relationship with the firm. This is because his awareness that the firm can address his questions is re-enforced.
4. If Joan does not answer the client immediately, the client may feel that the firm's personnel are not well-trained and are unable to handle not-too difficult technical issues.
Explanation:
A firm's clients usually require immediate clarifications whenever they ask their questions. Therefore, an effective and efficient firm should ensure that its paralegal officers are well-trained and well-informed to handle initial client enquiries while the details are referred to their supervisors.
Answer: As the firm produces more of a good, the cost of producing each additional unit increases this implies that the marginal cost of producing a good increases as it makes more of that good.
Explanation: Marginal cost of a producer refers to the addition in total cost when one more unit of a good is produced.
It is given by 
Refers to the following situations,
MC increases when adding output increases TC or Total Cost
MC decreases when adding output decreases TC
MC remains constant when adding output does not change TC
The supply curve of the firm is an upward sloping curve, which shows that quantity increases as price increases.
So, in relation to this, it means that MC will also increase as quantity increases.
