Answer: The answer is provided below
Explanation:
1. The following are the business activities that takes place from the moment a customer arrives to the moment the customer leaves my favorite fast-food restaurant.
The first thing is welcoming the customer to the restaurant, after the customer sits down, a waiter for to the customer and gives the menu to the customer for him or her to choose the kind of meal he or she wants. After the customer has chosen the meal, the order is received and then filled. The food is then brought to the customer with an accompanying bill for the customer to make payment. Lastly, when the customer has finished eating, the waiter and security at the gate thanks him or her on their way out.
2. The costs are:
i. The salary of the staffs at the restaurant. This include the waiter, cook, security, manager, cleaners etc.
ii. Utility bills such as electricity and water.
iii. Rent of the building.
iv. Cost of the ingredients for the meals.
3. Fixed cost is a cost which doesn't vary with the production output while variable costs are the costs that varies with output. For the (ii) above, the fixed costs are: salary of staffs, rent, utility bills because these costs doesn't usually change while the variable cost is the cost of the ingredients for the meals.
Economists are concerned with an individual's wants because wants because the existence of wants leads to scarcity.
<u>Explanation:</u>
Wants are the wishes of the human beings. It is the desire that is to be achieved by human beings. Every individual wants something in life for the survival. The wants of human beings has led to the technology advancements and discovery of many new things.
Wants are never ending things in human life. When something is achieved and there arises another want to be achieved again. This is to live better and this betterment will be never ending one, hence, economists view wants of individuals to lead to scarcity.
The weighted average unit cost is $10.61.
The cost of goods sold on October 29 is $2,122.39.
The inventory on October 21 is $3138.
<h3>What is the average weighted cost?
</h3>
The weighted cost of goods sold = [(310 x 9) + ($12 x 360)] / (360 + 310)
(2790 +4320) / 670
7,110 / 670 = $10.61
Cost of the goods sold on October 29 = average unit cost x number of goods sold
$10.61 x 200 = $2,122.39
Inventory on October 21 = ending inventory x average cost
ending inventory = total inventory - total inventory sold
- total inventory = 310 + 360 = 670 units
- total inventory sold = 170 + 200 = 370 units
- ending inventory = 670 - 370 = 300 units
Inventory on October 21 = 300 units x 10.61 = $3,183
To learn more about average weighted cost, please check: brainly.com/question/15231142
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Answer: Because the United States imports televisions, <u>P2 (GREATER)</u> represents the world price before the technological advance, and<u> P1 (MINOR)</u> represents the world price after the technological advance.
Explanation: The United States has no comparative advantage over the other countries in the production of televisions, therefore it IMPORTS them. Therefore, the price of televisions in the United States under normal conditions is higher than the world price, and as the world price falls as a result of Japan's technological advance, the price in the United States also decreases.
