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Ira Lisetskai [31]
4 years ago
10

You work as an assistant coach on the university basketball team and earn $15 per hour. One day, you decide to skip the hour-lon

g practice and go to the movie theater instead, which has an admission fee of $9. The total cost (valued in dollars) of skipping practice and going to the movies (including the opportunity cost of time) is
Business
1 answer:
Mashcka [7]4 years ago
6 0

Answer:

Total cost = $24

Explanation:

In economics total cost is a combination of the amount actually paid for a product or activity and the forgone benefit of buying another product or doing another activity.

Opportunity cost is defined as the forgone alternative of doing a particular activity. For example of you can buy ice cream or a book, if you buy a book you forgot the pleasure you would have derived from taking the ice cream.

In this instance the actual cost of going to the movie is $9 while the foregone alternative is the $15 you would have earned as a coach.

Therefore

Total cost = 15 + 9 = $24

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5. What is the real rate of interest for an account that offers a 12% nominal rate of return when the rate of inflation is 6% an
Gelneren [198K]

Answer:

Real interest rate= 0.06 = 6%

Explanation:

Giving the following information:

Nominal interest rate= 12%

Inflation rate= 6%

<u>The inflation rate provides the opposite effect on the interest rate. It decreases the purchasing power of an individual. </u>To calculate the real interest rate, we need to deduct the inflation rate.

Real interest rate= 0.12 - 0.06= 0.06

8 0
3 years ago
Using the following information, compute the direct materials used. Raw materials inventory, January 1 $ 20000 Raw materials inv
andrew11 [14]

Answer:

$1,320,000

Explanation:

According to the scenario, computation of the given data are as follow:-

Purchase of raw material = $1,800,000

Opening stock of raw material = $20,000

Closing stock of raw material = -$3,140,000

Direct Material Used = Purchase of Raw Material + Opening Stock of Raw Material - Closing Stock of Raw Material

= $1,800,000 + $20,000 - $3,140,000

= $1,320,000

7 0
3 years ago
The Dulac Box plant works two 8-hour shifts each day. In the past, 500 cypress packing boxes were produced by the end of each da
Alex787 [66]

The level of productivity is now approximately 40.6 boxes/hr

<h3>What is Productivity</h3>

Productivity refers to a ratio between a output volume and volume of input.

<u>Given data</u>

Working hours = 2*8 hours = 16 hours

New productivity = 500 + 0.3*500

New productivity = 650 box/day

New productivity =650/16 box/hour

New productivity = 40.625 box/hour

Hence, the level of productivity is now approximately 40.6 boxes/hr

Therefore, the Option B is correct.

Read more about productivity

<em>brainly.com/question/2992817</em>

7 0
2 years ago
Which describes the buying formula theory of selling? A. Buying decisions depend on four elements: drive, cues, response, and re
Amanda [17]

B. The prevailing circumstances act as stimuli to the buyer's responses

Explanation:

Circumstances the buyer finds himself can determine a buyer's response.

For example if the buyer finds that he needs the  product or service for him/her to have comfort or even to continue living it will stimulate him/her to make the purchase.

#learnwithbrainly

6 0
3 years ago
Read 2 more answers
Mayer Inc an advertising firm, has a horizontal structure with simple rules and procedures. It achieves targets by having person
Phoenix [80]

Answer:

The answer is A) Organic structure

Explanation:

An organic organizational structure can be described as:

  • very flexible
  • extremely flat reporting structure (horizontal), few layers of management
  • a manager usually controls a large number of employees, not much direct supervision
  • relies on employees having high interdependence (work as a team)
  • adapts well to changes

The top management of Mayer Inc. probably chose an organic organizational structure in order to foster creativity and team work.  

5 0
3 years ago
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