Answer:Economic rent-$320,000
Opportunity Cost-80,000
Explanation:
Economic rent is the extra amount or addition earned by a production resource here and in this context,Mr Kurt is the resource.In this scenario,the extra amount he earned as a professional golfer having quit engineering for it and thus had a step-up(addition) of $320,000.
While the opportunity cost which known as the alternative forgone in order in favour of another alternative in a decision process here is $80,000.In this case,he had to forego engineering job($80,000) and therefore concentrate on professional golfing which paid him more(400,000) not omitting the fact that he could have engaged in the two jobs at same time.
Answer:
Channel of distribution
Explanation:
A channel of distribution is a means used to get a product from the producer or manufacturer to the consumer. Channels of distribution include wholesalers, retailers, distributors etc.
Answer:
The answer is $26.80.
Explanation:
*Some inputs for the calculation as below:
One year period has 52 weeks
=> At the time she turns 68, she will have: (68-18) x 52 = 2,600 equal weekly cash flows; At the time she turns 47, she will have: (47-18) x 52 = 1,508 equal weekly cash flows.
* Present value of the investment plan lasting until she turns 68:
[ 24 / (7%:52) ] x [ 1 - (1+ (7%/52)^(-2,600) ] = $17,289.
* To have the same retirement nest egg at age 68, the present value of the investment plan lasting until she turns 47 should be equal to $17,289. Denote x is the weekly investment under the shorter investment scenario, we have:
[x / (7%:52) ] x [ 1 - (1+ (7%/52)^(-1,508) ] = $17,289 <=> x = $26.80.
Answer:
Rational Choice Theory
Explanation:
The philosophy of rational choice is predicated on the idea of optimizing the human benefit for personality-interest.
In this Situation, Mike confused between nursing and other career options will studying, mike uses Rational Choice Theory , between better pay Options and long working hours.
This theory also reflects a high demand for human benefit over the good payoff.
