<u>Answer:</u> Sunk cost
<u>Explanation:</u>
Sunk cost means the expense which has been already met by the firm and they cannot be recovered at any rate. Sunk costs are not based on the future decisions as these expenses for the firm are the same irrelevant to the project which it is assigned. Sunk costs are not a part of the budget plan.
In the given scenario the delivery company has spent $3500 in order to upgrade the truck. So $3500 is treated as sunk cost in the proposed project.
Based on the description above, the correct answer is a, true. It is because moral hazard problem covers about or focuses more on problems of how unemployed works doesn't exert much effort because of certain factors in which one of them maybe because of the unemployment benefits that unemployed individuals receives.
Answer:
you can find this in google but idk if its correct
Explanation:
Answer:
A reduction in average product by 0.01
Explanation:
Current number of workers = 200
Average product of labor = 10 Custom Vans per worker per week
Average product is given as : TP/N
Where TP is the total product and is Unknown, N is the number of workers and it is equal to 200.
Therefore TP = 200*10 = 2000
Marginal product (MP) of labour = 8 custom vans per worker per week.
Hiring additional worker will increase total product (TP) by 8.
New average product = (2000+8)/(200+1) = 2008/201
New AP = 9.99
So hiring an additional product will reduce average product by 0.01
Answer:
Resilience.
Explanation:
In business, Geoff is demonstrating an ability termed resilience to recover from his low sales and not only adapt but offering post disaster strategies to prevent low sales. By demonstrating resilience, Geoff could bounce back from such a setback.
