<span>At Rogopt, a multinational e-commerce site, the human resources department sends out emails to all its branches whenever there are any job openings in the company's headquarters. In this scenario, Rogopt is engaged in internal recruiting.
Internal recruiting is defined as filling/looking to fill job openings in the company with those already in working within the company. External recruitment refers to filling slots for the business with people who work outside of the company. </span>
Answer:
The answer is: D) raise the price, reduce the quantity, increase total revenues, and increase crime.
Explanation:
According to the law of supply and demand, when the supply of any given product is artificially lowered, the supply curve will shift:
- this will cause the price of that product to increase
- the profit margin of the suppliers will increase, increasing total revenue
- since illegal drugs would increase in crime, we can expect an increase in the crime rate on drug related crimes (e.g. addicts robbing).
That he is adding paper to the copier
Answer:
a. Economic profit is the excess of revenue over both opportunity (implicit) and explicit costs. Explicit costs are the cost of all inputs used.
b. The difference between economic profit and accounting profit is that in calculating economic profit, both the explicit costs and the implicit or opportunity costs are deducted from the revenue. Whereas, in computing the accounting profit, only the explicit costs are deducted from the revenue.
c. Economists measure economic profit rather than accounting profit because economists believe that the real cost of an output includes the economic or opportunity cost (potential benefits lost as a result of the course of action chosen).
Explanation:
Opportunity cost is the implicit cost incurred, which is equal to the potential benefits lost by an individual or a business, when an alternative is chosen instead of the other alternative. It is an important concept in the computation of economic profit. The concept ensures that both implicit and explicit costs are considered when determining the profits generated by a business.
