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jolli1 [7]
3 years ago
13

Walter builds birdhouses. He spends $5 on the materials for each birdhouse. He can build one in 30 minutes. He is semi-retired b

ut earns $8 per hour at the local hardware store. He can sell a birdhouse for $20 each. Refer to Scenario 13-11. The implicit cost for one birdhouse is:
Business
1 answer:
Leokris [45]3 years ago
6 0

Answer: $4

Explanation: Implicit cost or sometimes referred to as the opportunity coast is the part of economic cost of a project. It can be defined as the loss of profit someone faces when choosing one alternative over other.

So implicit cost of Walter is $4 ($8 * 1/2HOUR), that is, the amount he could have earned if he were not building a birdhouse.

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Suppose that a new technology, nuclear fusion, makes it much cheaper to generate power. Would this development cause a shift in
Marrrta [24]

Answer:

Both curves shifts rightwards.

Explanation:

When there is an improvement in the technological process then this will to increase the production level of the goods. Technological advancement increases the potential of an economy which in turn increases the supply of goods at the same price level. Improvement in the technological process increases the economy's productivity.

This will shift the short run aggregate supply curve and long run aggregate supply curve rightwards.

3 0
3 years ago
A. Is a detailed statement of receipts and expenditures for a period of time in the future
Orlov [11]

Answer

A detailed statement of receipts and expenditure for a period of time in the future is called a Budget

Explanation

An estimate of revenue and expenses over a particular future period of time is referred as the budget. A budget can be made for a family, for an individual or a business entity. In companies, budget is utilized as an internal tool of management.


3 0
3 years ago
Suppose an economist argues that it would be fairer if everyone in society had to pay the same portion of their income in taxes
nata0808 [166]

Answer:

Proportional Tax

Explanation:

A proportional tax imposes the same flat rate (in %) on income as payable tax.

Other types of taxes are Progressive and Regressive Tax. In progressive, the higher you earn, the higher tax you pay while in Regressive, the higher you earn, the lower income tax paid and vice versa.

8 0
3 years ago
Morgan is moving to a new city. Select all of the factors she should consider when selecting a new financial institution.
svet-max [94.6K]
Fees- Everything has a cost. Especially institutions, that are public.

Minimum Balance needed in an account-
If you are considering to buy anything, be sure to know your average amount of dollars you have, to know how much money you can spend. Be sure to have some left over.

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7 0
3 years ago
Read 2 more answers
Petras Company engaged in the following transactions during 2012, its first year in operations: (Assume all transactions are cas
Oksana_A [137]

Answer:

The net cash inflow from financing activities on Petras's 2013 statement of cash flows is $5. So, the correct option is A.

Explanation:

Petras Company

Statement of cash flows (extract)

Proceed from the issue of common stock              $325

Repayment of outstanding debt                            ($220)

Dividends paid                                                         ($100)

Net cash inflow from financing activities                    $5

Note that earned revenues and incurred expenses would form the net income used under operating activities section of the cash flows.

The prior year values for there for comparative purpose only.

5 0
3 years ago
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