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Aleonysh [2.5K]
3 years ago
12

Suppose that the opportunity-cost ratio for fish and lumber is 1F ≡ 1L in Canada but 2F ≡ 1L in Iceland. Then ____________ shoul

d specialize in producing fish while ___________ should specialize in producing lumber.
Business
1 answer:
Fofino [41]3 years ago
8 0

Answer:

Iceland specializes in production of fish and Canada specializes in lumber.

Explanation:

The opportunity cost of an economic decision is the cost of giving up the second-best alternative. Whoever has a relatively lower opportunity cost in the production of a product is said to be specializing in the production of that product.  

The opportunity cost for fish and lumber in Canada is 1F ≡ 1L, while it is 2F ≡ 1L for Iceland.  

This implies that Canada has a lower opportunity cost in the production of lumber as it has to give up one unit of fish while Iceland has to give up two units.  

Similarly, Iceland has a lower opportunity cost in the production of fish as it has to give up 0.5 units of lumber, while Canada has to give up one unit.

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Answer:

processing costs

Explanation:

Based on the information provided within the question it can be said that the cost incurred by Jefferson Tech Corp. is an example of processing costs. This term refers to the direct costs allocated to tools that allow the company to continue it's operations in an efficient manner. Therefore maintenance of the data management system (which is essential) are considered as processing costs.

7 0
3 years ago
Robert, the president of the labor union of a company, speaks to the management of the company about the requirement for an extr
vodomira [7]

Answer:

Taft-Hartley Act

Explanation:

Taft-Hartley Act is also known as the labour management relations act of 1947 and it restricts the activities and powers of labour unions. It stops unions for engaging in unfair labour practices such as jurisdictional strike, wild strike, political strike, secondary boycotts, and monetary donations to political campaigns.

Robert has violated the Taft-Hartley act by creating a fictional role in the company in order to get his cousin a job.

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3 years ago
Jamie is analyzing the estimated net present value of a project under various conditions by revising the sales quantity, sales p
KonstantinChe [14]

Answer:

C. Scenario Analysis.

Explanation:

As Jamie is analyzing the estimated net present value of a project under various conditions by revising the sales quantity, sales price, and the cost estimates. The type of analysis that Jamie is doing is best described as scenario analysis. Scenario analysis is basically conducted to know to estimate the unfavorable events development in the market and within the firm as well. It is applied to know about the worst possible situation which can happen and how it can effect the market as well as organization.

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3 years ago
The following model shows how resources in an economy move between households, businesses, and government. The Circular Flow Mod
Alex

Answer:

The correct answer is the circular flow model.

Explanation:

The circular flow model shows the movement of resources between different sectors in the economy. The firms or business hire factors of production from the households. In return, they make factor payments. They use these factors to produce goods and services. The households purchase these goods and services and pay by their factor incomes.  

The government sector charges taxes from households and businesses and provides goods and services in return. The government also hires factors of production and make factor payments. It also purchases goods and services from the businesses and pays for it.

6 0
3 years ago
The date of record for cash dividends is
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<span>Date of record is the date the corporation records which stockholders get dividend checks.
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So the answer is B
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3 years ago
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