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KiRa [710]
4 years ago
10

If a lobster in Maine costs $10 and that the same type of lobster in Massachusetts costs $30, then people could make a profit by

Business
1 answer:
Talja [164]4 years ago
6 0

Answer: buying lobsters in Maine and selling them in Massachusetts. This action would decrease the price of lobster in Massachusetts.

Explanation:

A lobster in Maine is sold at $10 while the same type of lobster is sold at $30 in Massachusetts. People would make a profit when they buy the lobster at $10 I'm Maine and sell at a price lower than $30 in Massachusetts.

The lobster is cheaper in Maine, so the logical thing to do is to buy at w country where it is cheaper and sell at Massachusetts. This will help reduce the price in Massachusetts to a price lower than $30 and the seller makes profit.

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Bobby is speaking to his friend and says, "this musical is going to cost me $60 when I buy the ticket." His friend corrects him
Valentin [98]

<u>Full question:</u>

Bobby is speaking to his friend and says, "this musical is going to cost me $60 when I buy the ticket." His friend corrects him and says, "actually, this concert will cost you more than $60 since you have to miss work." His friend is referring to the _________________.

Select the correct answer below:

a)economies of scale

b)budget constraint

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<u>Answer:</u>

His friend is referring to the opportunity cost

<u>Explanation:</u>

Opportunity costs describe the gains a person, investor or company drops out on when picking one choice over another. The cost of practicing something is previously the cost of the highest-valued alternative use.  Bottlenecks are frequently a condition of opportunity costs.

The method for determining an opportunity cost is solely the contrast within the expected returns of any option. Estimating opportunity costs can lead you to more effective decision-making. Opportunity cost examination also performs a crucial role in preparing a business's capital structure.

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3 years ago
A customer is interested in purchasing new furniture for their living room. Using a mobile phone, the customer opens a special a
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When a customer who wants to buy new furniture for his living room uses his mobile phone and opens an app that uses the camera to overlay different furniture options, this is a type of technology corresponding to augmented reality.

<h3 /><h3>Augmented reality technology</h3>

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8 0
2 years ago
The debt created by a business when it borrows from a vendor or supplier is called a(n):
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The main responsibility of the account payable is that it maintain all the historical records of the payment and also balance all the debt system. It is the process of recording all the important information or the data.  

According to the given question, the debt basically created by the business during the process of borrows  from the supplier or the vendors is known as the account payable.  

3 0
3 years ago
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nalin [4]

Answer:

False

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