Two opportunities are presented to Alison: one offers a salary of $45,000 year and three weeks of vacation, while the other offers a salary of $54,000 and two weeks of vacation. If Alison accepts the $54,000 job offer, she will forfeit one week of vacation time.
The worth of what you forgo while deciding between two or more possibilities is known as opportunity cost. You make a choice because you believe it will benefit you more in the long run, despite any potential downsides. Due to opportunity cost, your investing decisions will almost always result in either immediate losses or future benefits.
The complete question is :
Alison is offered two jobs: one pays a salary of $45,000 per year and offers three weeks of vacation, while the other offer provides two weeks of vacation and a salary of $54,000. What is the opportunity cost for Alison if she chooses the job offer of $54,000
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Answer: Cost per unit $15.2, cost of good sold $10,640
Explanation:
Weighted Average cost per unit = 15,200/1000
= $15.2
Ending inventory (400 × 15.2)
= 6,080
Cost of good available for sale = 15,200
Cost of good sold (700 × 15.2)
= $10,640
Answer:
2239%
Explanation:
The compound annual can be determined by converting this 12.5% in two weeks to an effective annual rate as below:
Effective annual rate=(1+12.5%/2)^52-1
By dividing by 2 we are reducing 12.5% to a weekly rate
By raising to the power of 52, we are expressing the weekly rate in annual terms.
Effective annual rate=(1+12.5%/2)^52-1=(1.0625
)^52-1
Effective annual rate=23.39401767
-1=2239%
Answer:
a. VRIN test, which asks if a resource is valuable, rare, inimitable, and non-substitutable.
Explanation:
Applying Barney's (1991) VRIN framework can determine if a resource is a source of competitive power. To serve as a basis for sustainable competitive advantage, resources must be:
valuable: meaning that they must be a source of greater value, in terms of relative costs and benefits, than similar resources in competing firms. When resources are able to bring value to the firm they can be a source of competitive power.
rare: rareness implies that the resource must be rare in the sense that it is scarce relative to demand for its use or what it produces. Resources have to deliver a unique strategy to provide a competitive advantage to the firm as compared to the competing firms. Consider the case where a resource is valuable but it exists in the competitor firms as well. Such a resource is not rare to provide competitive power.
inimitable: it is difficult to imitate. Resources can be sources of sustained competitive power if competing firms cannot obtain them. Consider the case where a resource is valuable and rare but the competing organizations can copy them easily. Such resources also cannot be sources of competitive power.
non-substitutable: other different types of resources cannot be functional substitutes. Resources should not be able to be replaced by any other strategically equivalent valuable resources. If two resources can be utilized separately to implement the same strategy then they are strategically equivalent. Such resources are substitutable and so are not sources of sustained competitive power.
The criteria of the VRIN Framework clearly rules out best practices as a source of competitive advantage. If other firms can easily understand and copy a capability, it is not a source of competitive power.
Answer:
Increase in weakly revenue = $9.8
Explanation:
Price (P) = 100, Demand or Sales N (P) = 120.
So revenue R(P) = P x N(P) = 120 x 100 = 120000
Given : 2 sales per week lost for 10 units increase in price.
New price (P') = 110 , New Demand or sales N' (P) = 118
So new revenue R' (P) = P' x N' P = 110 x 118 = 12980
Change in Total revenue due to 10 units price rise = 12980 - 120000 = 980
So, change in total revenue due to one unit price rise = 980/ 10 = 9.8
