Answer:
The correct answer is the option A: by constantly assessing the opportunity costs of our choices.
Explanation:
To begin with, due to the fact that there is limited money, time and effort, the individuals are best off when they allocate things by constantly assessing the opportunity costs of their choices because in that way they would understand better what would they win or loss if they choose either one or the other option. Moreover, if the individuals evaluates the opportunity costs of their options they would be able of analyze the situation that they are in and therefore to try to predict what could happen if they choose one option or the other and that action would facilitate every action to take.
Answer:
The correct answer is: How this new decision would impact in the consumers?
Explanation:
To begin with, due to the fact that the company first offer a low price to its costumers and then eventually tend to charge a different price by offering something completely different then the consumers will find that situation pretty unpleasent due to the fact that first they had something better and that is the main reason why the sales for the sketchpad plummeted after making that new decision. Therefore that the company's employees may have asked themself before the question of how the new price would impact in the consumers eventually.
Answer:
The correct answer is C. If real wages are the only consideration, then you would definitely take the job in Dallas because the real wage is higher there.
Explanation:
Real wages refer to wages adjusted for inflation. The term real is in contrast to nominal wages.
A comparison of the development of real wages over time gives a more accurate picture of the development of an individual's wages or of the development of wage differences between different professions.
In the present case, to determine the real salary we must calculate the nominal salary divided by the price index of each city, and then multiply this result by 100 to obtain the real annual salary that would be obtained in each city.
Thus, in Chicago a real annual salary of $ 60,469.31 (67,000 / 110.8 x 100) would be obtained, while in Dallas a real salary of $ 63,387.97 (58,000 / 91.5 x 100) would be obtained in the same period, with which it would be more convenient to accept the job in Dallas.
Answer:
Total gross profit =$ <u>50,565
</u>
Explanation:
<em>Gross profit is the sales revenue less the cost of the goods sold. The cost of goods sold would include the variable cost of production, fixed cost and the further processing cost</em>
<em> $</em>
Sales revenue (10,000×$8.15) + ( 3100 ×$6.15) = 100,565
Further processing cost (21,000)
Variable cost ( 10,000 ×$1.90) (19,000)
Fixed cost (<u>10,000)</u>
Gross profit <u>50,565
</u>