What is consumer credit?

You are the manager of a medium-sized farm with 100 acres of workable land. You can farm the land yourself, rent the land to ano

Ainat [17]

Answer:

The opportunity cost for a year will be $240,000.

Explanation:

The opportunity cost of any decision is the second-best alternative that is given up or sacrificed.

Here, the manager has a farm of 100 acres of land.

If he sells it to a developer for $40,000 per acre, he will get $4,000,000 for the whole land.

He can invest this amount and get an interest of 6% per year.

The opportunity cost of keeping the farm to the manager himself will be

= 6% of $4,000,000

= $\frac{6}{100}\ \times\ \$ 4,000,000$

= $240,000

3 0

3 years ago

The lower the user's switching costs:

JulijaS [17]

Answer:

more intense the competitive pressures posed by substitute products.

Explanation:

The lower the user's switching costs: the more intense the competitive pressures posed by substitute products.

Switching costs can be defined as the cost of a consumer switching from a product to a substitute good.

Therefore when such switching costs are low, it will be easier to switch from one product to another, implying that the competitive pressure from substitute goods are higher.

8 0

3 years ago

Read 2 more answers

A school band performs a spring concert for a crowd of 600 people. the revenue for the concert is $3150. there are 150 more adul

Alla [95]

In this item, we let the number of tickets sold to the adults as x. With this, we can let the number of tickets sold to students with y.

In this item, we are given that the sum of the number of students and adults is equal to 600. Further, we are also given that the difference is 150. The system of linear equation that would allow us to solve this item is,

x + y = 600
x - y = 150

Adding up the two equations will give us,
2x = 750
Dividing by 2,
x = 375

Substituting this value to the first equation,
375 + y = 600
y = 225

Therefore, there are 375 and 225 number of tickets sold to adults and students, respectively.

4 0

3 years ago

How might an interactive leader like Mary Barra communicate a policy change that impacts all GM employees from executive-level m

Andrej [43]

Answer:

b. Create task forces at different levels of the organization that communicate the benefits of the policy change

c. Hold a series of town hall meetings to discuss the policy change and listen to employee concerns

d. Hold informal meetings with key managers, department heads, and staff employees to discuss the policy change to develop best practices for communicating the change to other employees

Explanation:

An Interactive leader is a leader who seeks the opinion of his or her followers regarding issues in order to achieve a desired goal.

Mary Barra can communicate a policy change that impacts all GM employees from executive-level managers to assembly line workers by creating task forces at different levels of the organization that communicate the benefits of the policy change. This will help in passing the message across to the workers effectively and quicker.

Holding a series of town hall meetings to discuss the policy change and listen to employee concerns is also vital as the purpose of the policy change can be discussed and the opinions of other with regards to the change can be known.

Lastly, holding of informal meetings with managers, department heads, and staff employees is also essential so that the information can be passed across to the employees in each department and the workers all work towards achieving a common goal.

7 0

2 years ago

CodeHead Software Inc. does software development. One important activity in software development is writing software code. The m

Irina18 [472]

Answer:

Explanation:

Standard hours per week = 40 hours

Standard rate per hour = $32

Actual rate per hour = $40

Labour rate variance = 40 - 32 = $8 (unfavourable)

Actual cost per week = 40 × 40 = $1600

Standard cost per week = 40 × 32 = $1280

Labour cost variance = actual cost per week - standard cost per week

= 1600 - 1280

= $320 (unfavourable)

Actual codes written in first week = 5650

Standard codes per week = 5 × 25 × 40 = 5000

Actual cost per code = 1600/5660 = $0.2832

Standard cost per code = 1280/5000 = 0.256

Labour efficiency variance = 0.2832 - 0.256 = $0.0272 (unfavourable)

If the team generated 4,650 lines of code according to the original plan:

Code generated = 4650

Number of programmers = 5

Average codes per hour per programmer = 25

Total codes per hour = 25 × 5 = 125

Standard codes per week = 40 × 125 = 5000

Actual time to write 4650 codes = 4650/125 = 37.2 hours

Standard time = 40 hours

Idle time = 40 - 37.2 = 2.8 hours

Labour time variance = 2.8 hours

Cost of idle time = 2.8 × 32 = $89.6 (unfavourable)

4 0

2 years ago