1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sertanlavr [38]
2 years ago
15

Alex sees that his neighbors' lawns all need mowing. He offers to provide the service in exchange for a wage of $20 per hour. So

me neighbors accept Alex's offer and others refuse. Economists would describe Alex's behavior asA. rational self-interest because he is attempting to increase his own income by identifying and satisfying someone else's wants.B. greedy because he is asking for a high wage that some of his neighbors can't afford to pay.C. selfish because he is asking for a wage that is higher than others might charge.D. irrational because some neighbors refused his offer.
Business
1 answer:
soldier1979 [14.2K]2 years ago
7 0

Answer:

The answer is A) Rational self-interest because he is attempting to increase his own income by identifying and satisfying someone else's wants.

Explanation:

Traditional economic theory is based on three fundamentals, the first one being we are all rational consumers or suppliers.

Alex is trying to earn some money, completely rational and intelligent. He is able to do it by satisfying his neighbors´ need for lawn mowing.

Is he greedy? Probably yes, but he is still rational. No one is forced to pay his fee, so his also rational neighbors will decide if the price is correct or not. Those who believe the price is correct will hire him. If someone believes his is charging too much and that they can offer the same service for a lesser price,  should show up and offer their cheaper services.

Can people who buy a 25 million dollar car be considered irrational? No they can´t, because for them is probably an investment or they simply have  tons of money and like extremely expensive cars. What one person considers expensive may be considered cheap by someone else.

You might be interested in
What economic theory did Ronald Reagan base his policies upon after becoming President in 1980?
m_a_m_a [10]
<span>Supply-side economics is the economic theory that Ronald Reagan base his policies upon after becoming  President in 1980.Supply side economics theory is about being focus on the capital or supply in order to grow the economy. It is also called as macroeconomics theory.</span>
7 0
3 years ago
Challenge Tennis​ &amp; Recreation's operating activities for the year are listed below. Purchases ​$174 comma 800 Operating exp
makkiz [27]

Answer:

The answer is $169,400

Explanation:

Gross profit is a line item under income statement and it is the difference between net sales(revenue) and cost of sales. It is a measure of profitability ( net sales - cost of sales?

Cost of sales = beginning Inventory + purchases - ending Inventory

$27,600 + $174,800 - $37,800

$164,600.

Now, cost of sales is: ( net sales - cost of sales)

$334,000 - $163,800

=$169,400

6 0
2 years ago
Ramsey Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 60,000 subsc
Alexxandr [17]

Answer:

The correct answer is B

Explanation:

The journal entry to record the sale of the subscription is as:

Cash A/c.............................................................Dr       $600,000

   To Unearned Subscription Revenue A/c..........Cr      $600,000

As company made a sale of the subscription, so cash is received from sale therefore any increase in asset is debited. So, the cash account is debited. And the unearned subscription revenue is credited because cash is received against subscription sale.

8 0
3 years ago
Company C has a machine that, working alone at its constant rate, processes 100 units of a certain product in 5 hours. If Compan
r-ruslan [8.4K]

Answer:

Therefore the constant rate of new machine should be 30 units per hour.

Explanation:

Given that,

Company C has a machine that, working alone at its constant rate.

In 5 hours it produced 100 units certain product.

In 1 hour it produced (100÷5) units certain product.

                                     =20 units.

So,the constant rate of this machine is 20 units per hours.

Company C buys a new machine.

If two machine are working together,

In 2 hours, they produces 100 units.

In 1 hour, they produces (100÷2) units=50 units.

The constant rate of both machines is 50 units per hours.

Since first machine produces 20 unit per hour.

Then, the new machine produces =(50-20) =30 units per hour.

Therefore the constant rate of new machine should be 30 units per hour.

7 0
3 years ago
In your own what is the management?​
maria [59]

Answer:

can you explain this a little better how u have it makes no sense

8 0
2 years ago
Other questions:
  • A key disadvantage of exchange-rate targeting is the targeting country can no longer pursue its own independentmonetary policy a
    14·1 answer
  • You have purchased 1 million shares in a restaurant chain venture. At this zero-stage investment, your company’s assets are $110
    6·1 answer
  • A machine can be purchased for $288,000 and used for five years, yielding the following net incomes. In projecting net incomes,
    13·1 answer
  • An object that formerly was personal property but has become real property:
    10·1 answer
  • Why do I have pay for answers when I'm going to school to be able to earn money? Yes, I'm 16, almost 17 and don't have a job bec
    12·1 answer
  • Marcus finds that a check written by a customer and deposited has not yet been posted
    14·1 answer
  • actor Co. can produce a unit of product for the following costs: Direct material $ 8.60 Direct labor 24.60 Overhead 43.00 Total
    10·1 answer
  • QUESTION 9 of 10: You bid $111 per room per night for 40 guests for one night. The meeting planner says you've got the business
    10·2 answers
  • The motion study chart that describes the movements of both hands at the same time is a: Multiple Choice simo chart. gang proces
    9·1 answer
  • The Ingraham Corporation has $1,000 par value bonds outstanding. The bonds have an annual coupon rate of 8.90 percent and an ann
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!