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3 years ago

Economically rational means that consumers and firms

Business

1 answer:

Lena [83]3 years ago

5 0

Answer:

D, Take actions that are appropriate to reach goals given available information.

Explanation:

Rational in economics can be said to be a situation where an individual or company takes the best decisions to reach his/her or its goals.

This could also mean that the ability to make a decision that maximizes the accomplishment or benefits for an individual.

cheers.

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In a discussion of economics, which of the following would exert the most influence on an individual firm's decision to hire wor

9966 [12]

Answer:

(B) the macroeconomy

Explanation:

The condition of the macroeconomy would exert the most influence of a firm's decision to hire more workers. As economic growth increases and demand grows, the firm is likely to hire more workers to meet increasing demand for its goods. On the other hand, in an economic recession, the firm is likely to hire less and even lay off its existing workers as demand for its goods reduces.

Option A is incorrect as a firm would not hire more workers even at low wage levels if the economy is in a recession. Option C is incorrect as the level of a firm's income would likely not be considered in its hiring decision if demand for its goods was very high. Option D is incorrect as the household income would likely not be considered by the firm in its hiring decision.

8 0

3 years ago

. Zoe Corporation has the following information for the month of March: Purchases $ 92,000 Materials inventory, March 1 6,000 Ma

rodikova [14]

Answer:

1. Cost of goods manufactured = $150,500

2. Net income = $36,500

3. Total Inventory = $61,500

Explanation:

Requirement 1

Zoe Corporation

Schedule of cost of goods manufactured

For the month ended March 31

Direct Materials:

Beginning Materials inventory $6,000

Add: Raw materials purchases 92,000

Raw materials available for use $98,000

Less: Ending Raw Materials 8,000

Direct materials used $90,000

Direct Labor 25,000

Prime Cost $115,000

Factory overhead 37,000

Total manufacturing cost $152,000

Add: Work in process, March 1 22,000

Less: Work in process, March 31 (23,500)

Cost of goods manufactured $150,500

Requirement 2

Zoe Corporation

Income Statement for manufacturing company

For the month ended March 31

Sales revenue $257,000

Less: Cost of goods sold

Beginning finished goods inventory $ 21,000

Add: Cost of goods manufactured (Req.1) 150,500

Finished goods available for sale 171,500

Less: Ending finished goods inventory (30,000)

Cost of goods sold 141,500

Gross Profit $115,500

Less: Sales and administrative expenses 79,000

Net operating Income $36,500

Requirement 3

Zoe Corporation

Balance Sheet

As at March 31

Inventory:

Materials $8,000

Work-in-process 23,500

Finished goods 30,000

Total Inventory $61,500

Inventory consists of all the ending materials, ending work-in-process, and ending finished goods. All the ending items need to be shown in the balance sheet because those inventories will remain at hand at the end of the period.

5 0

3 years ago

Refrez Inc., a U.S.-based cereal manufacturer, begins selling its products in China. While people in the United States eat cerea

STALIN [3.7K]

The obstacle to defining the research problem was that the company failed in collecting quantitative data /Selection of inappropriate respondent resulted in wrong output.

Explanation:

A research design is a blue print that a company prepares for conducting marketing research .

A firm collects quantitative data by conducting surveys and asking the customers or consumers to fill the forms (questionnaires).These surveys and questionnaires helps the company in making product related decision in various markets.(i.e how to customize the product as per the taste and the preferences of the consumers)

The obstacle to defining the research problem was that the company failed in collecting quantitative data /Selection of inappropriate respondent resulted in wrong output.Hence the company Refrez Inc failed to acknowledge the fact that people in the United States eat cereal with cold milk, whereas the people of China eat cereal with hot milk.

As a result, Refrez Inc witnessed a decline in sales of its product in Chinese market .

6 0

3 years ago

A cash equivalent is a short-term, highly liquid investment that is readily convertible into known amounts of cash and Group of

rewona [7]

Answer:

so near its maturity that it presents insignificant risk of changes in interest rates.

Explanation:

As we know that the cash equivalent i.e .short term and also classified as the highly liquid investment that is always ready to convert into the cash amount i.e. near to its maturity also at the same time it represent the non-significant changes risk with respective to the rate of interest

Therefore the last option is correct

8 0

3 years ago

The only deposits of a rare and sought-after mineral known as ursarite are found in Russia. Since no other nation has deposits o

fomenos

Answer: Russia has an absolute advantage in the mineral.

Explanation:

Absolute advantage is an economics term that means to the ability of an individual, firm, or nation to manufacture a larger quantity of a product than its competitors.

Adam Smith proposed absolute advantage of absolute advantage in international trade by using only labor as the input. Absolute advantage is derived by comparing labour productiveness between countries.

Russia has an absolute advantage because it's the nation that can produce the highest amount.

4 0

3 years ago