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Maru [420]
4 years ago
7

Harvey quit his job at State University where he earned $45,000 a year. He figures his entrepreneurial talent or foregone entrep

reneurial income to be $5,000 a year. To start the business, he cashed in $100,000 in bonds that earned 10 percent interest annually to buy a software company, Extreme Gaming. In the first year, the firm sold 11,000 units of software at $75 for each unit. Of the $75 per unit, $55 goes for the costs of production, packaging, marketing, employee wages and benefits, and rent on a building.
Refer to the above information. The implicit costs of Harvey's firm in the first year were:
a. $50,000
b. $60,000
c. $100,000
d. $150,000
Business
1 answer:
kompoz [17]4 years ago
6 0

Answer:

b. $60,000

Explanation:

Implicit cost is the cost which is not shown as a cost in the statement of income.

As it includes basically the opportunity cost.

This will include:

Salary foregone = $45,000

Entrepreneurial skills income = $5,000

Interest on bonds foregone = $100,000 \times 10% = $10,000

Thus, total implicit cost = $45,000 + $5,000 + $10,000 = $60,000

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Pani-rosa [81]

The spaces taken up to serve 300 customers per day is; 24,000 square feet each

According to the question;

  • We are required to determine how much room will you need just for batting cages.

By proportion;

To serve 20 customers each per day; the batting cages take up about 1600 square feet each

To serve 300 customers each per day; the batting cages would take up about;

  • = (300 × 1600)/20

  • = 24,000 square feet each

Therefore, 24,000 square feet each is required to serve 300 customers per day.

Read more;

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6 0
3 years ago
Don works diligently to accomplish the company goals in an efficient and effective manner, utilizing his employees through plann
eimsori [14]

Answer:

Managing

Explanation:

Managing involves effectively utilising an organisation's resources and bringing employees together to meet set goals and objectives.

Good management helps create a dynamic team where employees collaborate and give their best to achieve collective goal.

Roles are well defined and review and planning is done to effectively drive the team to success.

6 0
3 years ago
According to most project management literature, the key items to be planned, monitored, and controlled are __________.
Vanyuwa [196]

Answer:

The correct answer is schedule (time), budget (cost) and performance (resources).

Explanation:

To develop the Schedule, the outputs of the processes will be used together with the determined planning tool:

  1. Plan the Schedule Management. It consists of establishing the necessary policies, procedures and documentation. In order to plan, develop, direct and control the Project Schedule.
  2. Define the Activities. It consists of identifying those activities necessary to carry out the Project successfully.
  3. Sequence the Activities. It consists of identifying and documenting what kind of dependency exists between the different activities.
  4. Estimate resources of the Activities. It consists in estimating what type and amount of resources we need and are available to execute each activity.
  5. Estimate the duration of the Activities. It consists of establishing approximately how much time is necessary to complete each activity. As well as the number of resources estimated in the previous process.
  6. Develop the schedule. It consists in analyzing and integrating the order of execution of activities, their duration, resource requirements and possible restrictions. All this, integrated into the planned planning tool, will generate the Project Schedule, and with it the Baseline of the Schedule.
  7. Check the schedule. It consists of following the status of the Project, monitoring its progress and comparing with the baseline to manage possible changes.

The work necessary to carry out the six processes of Time Management must be preceded by a planning effort by the Project team, which is part of the process Develop the Project Management Plan. From it we will obtain, among others, the Schedule Management Plan that determines a methodology, the planning tool used, the format and the criteria to develop and control the Project Schedule.

------

NOTE: If you need to extend the explanation given, you can make a comment or add a new question. I will be very pleased to help you.

6 0
3 years ago
A big mining company wants to open a mine . The social costs are greater than the social benefits. Should the company carry on w
Oduvanchick [21]

Answer: They should not

Explanation:

The Social cost of a project refers to the total cost that society incurs as a result of the project. This includes the actual costs to the investors as well as the cost to society such as pollution. Likewise the social benefit is the entire benefit that accrues from the project.

When using the Social Cost Benefit Analysis, one should not pick a project that has a higher social cost than social benefit because it would lead to a social loss. In order words, the project would cost society more than society would benefit from it so there is no need to embark on such a project.

7 0
3 years ago
Which of the following is an essential part of making a rational choice?
Nataly_w [17]
Which of the following is an essential part of making a rational choice?

C. Doing cost-benefit analysis.

I got my answer from quizlet. 2.05 Quiz: Consumer Choice
8 0
3 years ago
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