Answer:
Correct option is B.
The net benefit of the activity you would have chosen if you had not taken the course
Explanation:
Your opportunity cost of taking this course is <u>the net benefit of the activity you would have chosen if you had not taken the course
</u>
Opportunity cost is what you must sacrifice when you choose an activity. By taking this course, you are sacrificing the benefit you could have obtained from the activity you would have chosen if you had not taken the course.
Answer: $2,900
Explanation:
The cost of this amount of output is:
= (Amount of K used * Rental rate of capital) + (Amount of labor used * wage rate)
= (10 * 150) + (14 * 100)
= 1,500 + 1,400
= $2,900
Answer: See explanation
Explanation:
The quart is the same as one quarter of a gallon and it is used for measuring liquid. The gallon is also a unit of measurement for liquid as well.
In converting 5 quarts to gallons, we should note that:
1 quart = 1/4 gallon
5 quarts = 1/4 × 5 = 1.25 gallon
Answer:
B) Net sales will increase.
Explanation:
Net sales = total sales - sales returns and allowances
If the percentage of sales returns and allowances is reduced, then total net sales should increase. E.g. total sales are $100, sales returns and allowances are $4, then net sales = $96. If sales returns and allowances decreases to $2, then net sales will be $98.
Also, if the fee that credit cards charge decreases by 1%, net sales will also increase. Credit card fees decrease total sales, e.g. you sell $50 using credit card and the credit card company charges you $1.50, your total sales will be $48.50, but if the credit card company only charges $1, then total sales will be $49.
As prosperity and economic development rise, individualism increases as well.
Individualism refers to the freedom of someones actions. If the economy is doing well and someone has more money, they are more likely to spend their money freely. The person has moral worth as an individual.
