Answer:
Correctly ignored a sunk cost.
Explanation:
In economics a sunk cost is one that an individual has already paid for and cannot recover. For example when payment is made for rent it is no longer recoverable.
In this instance Eric has already bought a $50 ticket that is nonrefundable, nonexchangeable, and nontransferable. This is a sunk cost.
Eric wants to go to the concert with Ginny who he wanted to date for a long time.
He will correctly ignore the sunk cost of going to the play because any more time spent on the play will not help recover the $50 already spent.
Traditional career development programs of the past focused on helping an employee advance <span>by holding a series of jobs in a single organization.</span>
Answer:
a. per diem
Explanation:
The salesman's job responsibility to increase the sales for the company through which the company could accomplish its future goals. In exchange for that, the salesman gets the remuneration the company hired for.
As when the salesman travels for his company, he has given the specific amount for food, travel, and hotel per diem. The per diem is a Latin word that means per day.
The daily allowance is given by the company to a salesman with the hope that the salesman perform his duties well so that he could be appraised in the next new months with respect to the promotion and other perks
Answer:
Business
Explanation:
A business is a legal activity which we undertake to earn money. In this case, both Melvin and Neil work together to earn money by running pawnshop. Selling of personal items of the borrower and interest receipts are part of the operations of the business. It is not proven from the scenario that it is partnership (business type) because it is not written that both Melvin and Neil share profits and losses associated with this business.
Answer:
SmartSC
The economic order quantity (EOQ) for Supplier A is:
= c) 253
Explanation:
a) Data and Calculations:
Supplier A Supplier B
Price per unit $30 $6
Annual unit demand 7,200 3,000
Annual holding cost $9 $1.80 ($6 * 30%)
Ordering cost $40
Economic order quantity for Supplier A = square root of (2 * D * S)/H
where D = Annual demand in units
S = Ordering cost per order
H = Holding cost per unit
= square root of (2 * 7,200 * $40)/$9
= square root of 64,000
= 253
