Answer:
The correct answer is a.
cost minimization; opportunity maximization
Explanation:
Cost minimization attempts to answer the fundamental question of how to select production factors in order to produce goods with a minimum cost.
The isocoste line of a company shows the cost of contracting production factors. This line gives us all possible combinations of factors of production (here work and capital) that can be purchased while maintaining a given budget.
When we are faced with a business opportunity within a company, the first thing we have to do is not miss it, because surely that opportunity will not arise again and we will stop to let it go. Once we have made an analysis as to what benefits the opportunity can leave us, we must raise it to the maximum, channeling the available resources towards the most attractive possibilities in order to achieve the best results.
Monopoly market................
by all resources are scarce
Answer:
The estimated overhead cost if 225 direct labor hours are expected to be used in the upcoming period is $9,882.11
Explanation:
In order to calculate the estimated overhead cost if 225 direct labor hours are expected to be used in the upcoming period we would have to make the following calculation:
Cost for 225 direct labor hours = Intercept + Slope*225
Cost for 225 direct labor hours=$596.36+ ($41.27*225)
Cost for 225 direct labor hours=$9,882.11
The estimated overhead cost if 225 direct labor hours are expected to be used in the upcoming period is $9,882.11
Answer:
This illustrates the principle that;
c.people face trade-offs.
Explanation:
Commercial transaction especially in business involve various situations that can mirror underlying economic principals, An example of the many economic principals is trade-off. This principal is explained in detail below;
1. Trade-off
A trade-off is a compromise between two desirable products that are incompatible. A trade-off usually involves the foregoing of one choice for the other, it usually involves the sacrifice of one of two products which have the same qualities but one only limited to picking one choice. A trade-off usually happens in business dealings. An example is a situation where one needs to purchase two items that have the same cost and the amount of money the buyer wants to buy can only be enough for one of the products. In this case, the buyer will have to sacrifice one product for the other based on the prevailing financial status limiting him/her from purchasing both of them.
Lawrence's case is a classic trade-off scenario since he is torn between buying a flash for his camera or a new tripod. He needs both of them with equal measure but he can only afford one at a time. This means that he will have to choose one over the other, a principle known as a trade-off.
