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salantis [7]
3 years ago
10

Angus works as a dairy farmer in Minnesota. He loves his work and finds a great deal of personal satisfaction in providing the h

ighest quality dairy products to his community of Mackahatchie. However, the dairy business has not been doing so well lately and Angus is considering changing careers and becoming a technician at the local dairy plant, where he would earn $27,000 a year. Being a rational decision maker, Angus decides to make a list of the costs of keeping his job as a farmer and asks you to help him out. Please classify Angus' costs according to whether they are explicit costs or implicit costs.
Business
1 answer:
weeeeeb [17]3 years ago
5 0

Answer:

Explicit costs are the costs which requires the money to pay.

On the other hand, implicit costs refers to the benefit that is foregone by choosing some other work or doing some other activity.

Therefore,

Explicit costs are as follows:

1. Wages pays to his hired hand

2. Buys feed for his cows.

3. Gas expense that is used in truck

Implicit costs are as follows:

1. Foregone income of $27,000 from working at a dairy plant as a technician.

2. Time taken for extracting milk from all the cows.

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When government expenditures increase, the interest rate
Julli [10]

Answer:

The correct answer is option d.

Explanation:

When there is an increase in the government expenditures, the income in the economy will increase. As a result, the demand will increase. The increase in demand will increase the price level.

The suppliers will produce more. To increase output more capital investment will be required. This will further cause an increase in the demand of loan-able funds. So, the interest rate will increase as well.

With the increase in interest rates, the cost of borrowing will increase. This will lead to lesser capital investment and as a result the aggregate demand will be smaller, because of lower production and thus lower income.

5 0
3 years ago
Assess the benefits and drawbacks of the high-speed rail project. In your opinion, do benefits outweigh drawbacks, or vice versa
Andrews [41]

Answer:

The benefits of a High Speed Rail in California:

  • It becomes a feasible alternative to air travel, because it can be either cheaper, or even faster, since passengers do not have to spend as much time on a train station as they do on an airport.
  • If demand is high enough, state highways can become less congested, because many people who would otherwise travel by car, would take a high speed train instead.
  • Because the trains are electric, they are likely to help reduce pollution.

The cons would be:

  • We cannot know for sure how many people would take the high speed trains. Demand could not be high enough to justify the cost.
  • The line would be very costly.
  • It could end up benefit only a small section of the population who would take the trains, or who travel often.

I believe that the benefits outweigh the drawbacks, as can be seen in most countries where high speed lines have been made between large cities. For example, in Spain, the line between Madrid and Barcelona is profitable. The same would likely happen for a line between Los Angeles and San Francisco.

What are the implications of starting a project based on tenuous projections that may or may not come true 10 years from now?

If demand projections are tenous, there is always the possiblity that the high speed line could not be profitable. However, this risk can be lowered if the line is made between highly populated cities.

Could you justify the California high-speed rail project from the perspective of a massive public works initiative?

Yes, a high speed rail would be a project that could massively impact California. The benefits of its operation could outweight the cost.

In other words, what other factors enter into the decision of whether to pursue a high-speed rail project?

As I said before, the most important factor is to construct line between highly populated cities in order to reduce the risk of not having enough demand. It has been demonstrated around the world, in Spain, in Italy, in Japan, in China, that high speed lines that connect very populated regions, can be profitable.

7 0
3 years ago
is personally responsible for all partnership debts. has no say over a firm's daily operations. faces double taxation whereas a
aleksandrvk [35]

Answer:

is personally responsible for all partnership debts

Explanation:

COMPLETE QUESTION

A general partner:

is personally responsible for all partnership debts. has no say over a firm's daily operations. faces double taxation whereas a limited partner does not. has a maximum loss equal to his or her equity investment. receives a salary in lieu of a portion of the profits.

EXPLANATION

A general partner can be regarded as a person that joins with another person or join with more than one other person to form a business. A general partner is responsible for the actions that is been taken in the business, He or she is liable personally for all the debts as well as obligations in the business and can bind the business legally. It should be noted that A general partner is personally responsible for all partnership debts.

5 0
2 years ago
Which is the best way to prepare yourself for a job in the sports industry
Nataliya [291]
Are there any answer options? I know the answer if you have options
8 0
3 years ago
Read 2 more answers
The only expenses that can be reduced in order to produce more savings are ""Non-essential Expenses"" and ""Essential (Variable)
Y_Kistochka [10]

Answer:

The statement is false

Explanation:

Non- essential expense is the expense which is spent on the extra things, which means it is not essential to meet the needs. Whereas the essential expense are those expenses which are spend on consuming the things required for living. For example food, cloth.

So, both the expenses are those expense which are necessary for an individual or person and therefore, cannot be reduced in order to produce the more savings.

8 0
3 years ago
Read 2 more answers
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