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Mnenie [13.5K]
3 years ago
6

Van has plans to go to an opera and already has a $100 nonrefundable, nonexchangeable, and nontransferable ticket. Now Amy, whom

Van has wanted to date for a long time, asks him to a party. Van would prefer to go to the party with Amy and forgo the opera, but he doesn't want to waste the $100 he spent on the opera ticket.
From the perspective of an economist, if Van decides to go to the party with Amy, what has he just done?

1. Incorrectly allowed a sunk cost to influence his decision

2. Made a choice that was not optimal

3 Correctly ignored a sunk cost
Business
1 answer:
yan [13]3 years ago
4 0

Answer:

The right choice is "3 Correctly ignored a sunk cost"

Explanation:

As the ticket to the opera was already bought and it is nonrefundable, nonexchangeable, and nontransferable; whether Van decides to go to the opera or to go to the party with Amy; he has incurred $100 cost of ticket which can not be recovered in any manner.

The ticket cost in this question is categorized as sunk cost - cost that incurred in the past and will be remained the same regardless of any future actions. Thus, this type of cost should be ignored when making decision for the future.

So, "3 Correctly ignored a sunk cost" is the correct choice.

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Aliun [14]

Answer: $4,508

Explanation:

Companies usually give discounts with credit terms to encourage Receivables to pay faster.

In this scenario, credit terms of 2/10, n/30 were offered which means that if Carla Vista Company pays within 10 days they get a discount of 2% but if they don't they should pay the full amount in 30 days.

They paid within the discount period meaning that they qualify for the discount of 2% but they however returned goods worth $1800.

So calculating for that would be,

= (6,400 - 1800) (1 - 0.02)

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The amount of the check is $4,508

8 0
3 years ago
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In the markets for factors of production, ____
Lelu [443]

Answer: In the markets for factors of production, "(B) households provide firms with labor, land, and capital.".

Explanation: Companies and households interact between 2 markets.

The market of goods and services: is one in which companies sell products and services to homes.

The market of productive factors: it is one in which households sell productive factors to companies so that they can produce goods and services.

8 0
3 years ago
Jamie was participating in a market research study regarding computers when he was presented with 24 different computers that va
fenix001 [56]

Answer:

conjoint analysis

Explanation:

In the market research study being described, they were using conjoint analysis. This is a statistical technique that helps determine how potential customers value different attributes such as a specific feature, function, or benefit that makes up an individual product or service. In this particular scenario, Jamie was asked to rank the different computers based on each ones unique/different criteria or features.

4 0
3 years ago
Lamar has just gotten a new job and is attending a company party where he will meet his colleagues for the first time. his boss
RSB [31]
<span>lamar's experience demonstrates that he is a man with short-term memory loss</span>
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3 years ago
Discount Mart borrows $400,000 on July 1 with a short-term loan that has an annual interest rate of 6% payable on the first day
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Answer:

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Explanation:

The computation is shown below:

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So this $6,000 represent an increase in liabilities and increase in expenses

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