Answer:
B. In considering our costs, we need to include what we could have earned by working at part-time jobs instead.
Explanation:
When the group of college students include, in their analysis of costs, what they could have earned by working at part-time jobs instead, they are including the opportunity cost.
The opportunity cost is what is given up to do something: the cost of not choosing an alternative.
Including opportunity costs in their cost-benefit analysis reveals sound economic thinking.
Answer:
c. used to indicate where changes in technology and machinery need to be made
Explanation:
Standard Costs are established through past experiences and hence they can be used to control costs, and plan production schedules.
Changes in technology and machinery need to be made is part of perfomance management with a future outlook.
Answer:
investment in FedEx = 4410000
Unrealized holding gain = 420000
Explanation:
given data
FedEx common stock = 42,000 shares
market value = $95
market value = $105
to find out
what amount will it be reported in the 2019 balance sheet
solution
we know that It is coming under available for sale security since the shares hold is less than majority of outstanding shares
and here
investment in FedEx =42,000 × 105
investment in FedEx = 4410000
and
Unrealized holding gain is = ( 105 - 95 ) × 42000
Unrealized holding gain = 420000
Steve owns a bike store, his total costs are $1.2 million per year. Last year, Steve sold 1,200 bikes. Steve's average total cost was $1,000 per bike.
To solve: take the total costs of $1.2 million and divide it by the number of bikes sold, $1,200
Average total cost = 1,200,000/1,200
Average total cost = $1,000
Answer:
The statement is false. The largest component of GDP is private consumption, or simply: consumption.
Explanation:
Consumption includes all purchases of goods and services made by individuals and households except for the purchase of new houses (these are considered investments).
In the U.S., consumption accounts for around 70% of GDP. This is why some economists say that the U.S. is a consumer-based economy.
