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4 years ago

6

What is a opportunity cost?

1 answer:

Alexandra [31]4 years ago

5 0

Answer: An opportunity cost is a benefit ,profit, or value of something that must be given up to in order to achieve something else.

Explanation:

You might be interested in

Bennett purchased a tract of land for $20,000 in 2012 when he heard that a new highway was going to be constructed through the p

babymother [125]

Answer:

The correct answer to this question is that the amount of loss suffered by Bennett cannot be taken out because no information has been given in the question regarding sale of the land.

Explanation:

In the given above question Bennett purchased a tract of land for $20,000 in 2012, thinking that the value of land would increase to $200,000 when the new highway would be constructed but that didn't happen and the value of the property fell to $15,000. Here we can't tell anything about the loss suffered by Bennett because there has been no information given regarding the selling of the land and if he hasn't sold the land then that means there is no loss.

If he would have sold the land then he would have suffered a loss of $5000($20,000 -$15,000).

7 0

4 years ago

Larry Ellison starts a company that manufactures high-end custom leather bags. He hires two employees. Each employee only begins

HACTEHA [7]

Answer:

12.55 days

Explanation:

<em><u>Provided information </u></em>

Number of employees 2

Average production time=1.8 days

Standard deviation=2.7 days

Inter-arrival time= 1 day

Coefficient of variation= 1 day

Standard deviation of inter-arrival time= 1 day

The coefficient of variations

<u>Inter-arrival coefficient of variation </u>

$C_{vi}=\frac {\sigma}{T}$ where $\sigma$ is standard deviation of inter-arrival time, T is inter-arrival time and $C_v$ is coefficient of variation of inter-arrival time

$C_{vi}=\frac {1 day}{1 day}=1$

<u>Production time coefficient of variation </u>

$C_{vp}=\frac {2.7}{1.8}=1.5$

<u><em>Total utilization time </em></u>

$U=\frac {T}{n*T_i}$ where T is the time of production, n is number of employees, U is utilization, $T_i$ is inter-arrival time

$U=\frac {1.8}{2*1}=0.9$

Therefore, utilization time by 2 employees is 0.9

<u>Expected average waiting time </u>

$T_e=(\frac {T}{n*T_i})*0.5(C_{vi}^{2}+C_{vp}^{2})*(\frac{U^{\sqrt{2(n+1)}-1}}{1-U})$

Where $T_e$ is expected average waiting time and the other symbols as already defined

Substituting 1.5 for $C_{vp}$ , 1 for $C_{vi}$ , 0.9 for U, 2 for n, 1 for $T_i$ and 1.8 for T

$T_e=(\frac {1.8}{2*1})*0.5(1^{2}+1.5^{2})*(\frac{0.9^{\sqrt{2(2+1)}-1}}{1-0.9})$

$T_e=0.9*1.625*8.583709=12.55367 days$ and rounding off to 2 decimal places we obtain 12.55 days

Therefore, expected duration between order received and beginning of production is approximately 12.55 days

4 0

3 years ago

If you contributed the full 6% of your $50,000 salary (the amount your company will match), what would be your monthly contribut

Elodia [21]

Answer:

Monthly contribution $6,000

Employers contribution $3,000

Explanation:

The employee contributions would be 6% of $50,000

=6/100 x $50,000

=0.06 x $50,000

=$3,000

If the employer matches the employee contribution, the employer will also contribute $3,000

The total employee monthly contribution would be $3000 + $3000= $6000

Employer contribution will $3000

3 0

3 years ago

The following production data were taken from the records of the Finishing Department for July:Inventory in process, June 1, 30%

zepelin [54]

Answer:

Conversion Cost Equivalent units FIFO 39, 125

Explanation:

Beginning WIP 5,000 30% completed

transferred units 39,500

ending WIP 4,500 25% completed

<u>The equivalent units will be:</u>

the transferred units

- complete portion for the beginning WIP

+ complete portion of the ending WIP

transferred out 39,500

work in previous period

5,000 x 30% = (1,500)

worked but not complete

4,500 x 25% = <u> 1, 125 </u>

Equivalent units FIFO 39, 125

5 0

4 years ago

Match the elements of the buying equation theory with their definitions.

frozen [14]

Answer:

external stimulus : Cue

restoration of buying impulse: Reinforcement

strong internal stimulus: Drive

action taken by prospect: Response

Explanation:

5 0

3 years ago