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erma4kov [3.2K]
3 years ago
9

The opportunity cost of doing or getting something is best and fully defined as:

Business
1 answer:
Marysya12 [62]3 years ago
6 0

Answer: The correct answer is C. The value of the best alternative that is given up in order to do or get something.

Explanation: Opportunity cost literally means alternative thing forgone - meaning what is given up to get something <em>(sacrifice</em>). It is a concept used by economists to allocate limited resources for production, consumption, distribution and exchange of goods and services. Production of goods or services entails the creation of value. In other words, it gives a more understanding on how limited resources are allocated in order to satisfy the human insatiable desires.

For example, a student may be constrained with limited amount of pocket money, say $100 and the student wants to buy textbooks that cost $10 each or go for different outings going for $20 each. In this scenario, the student has different options: a) buy 10 textbooks and 0 outing b) buy 8 textbooks and a outing c) 6 textbooks and two outings d) 4 textbooks and three outings e) 0 textbooks and five outings. For the student to have any more of the other, he has to give up the other unit. What is given up is called opportunity cost.

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A marketing intermediary would most likely help a firm by ________.A) negotiating with labor unions regarding wages, hours, and
Arte-miy333 [17]

Answer:

Moving the firm's goods from production points to distribution centers (E)

Explanation:

Negotiating with labor unions regarding wages, hours, and benefits : This function is the primarily  responsibility of Human Resources Manager

Providing technical expertise on the production and design of goods :

This is the responsibility of an Operation Manager

Supplying the raw materials needed for manufacturing the firm's products :

This is the responsibility of Procurement/Purchasing Manager in collaboration with store-keepers.

Moving the firm's goods from production points to distribution centers :

A marketing intermediary is responsible for getting goods from production floor to distribution centers.

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3 years ago
If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $800 billion, and e
Ksju [112]

The required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $800 billion, and excess reserves total $0.8

If the required reserve is 10%, the currency reserve multiplier is 10 and the currency supply should be 10 times the reserve. A reserve requirement ratio of 10% also means that banks can lend out 90% of their deposits.

The reserve ratio can be calculated by simply dividing the amount a bank must hold in reserves by the amount the bank has on deposit. For example, if he has $10 million in bank deposits and needs to hold $500,000 in reserves, the required reserve ratio is 1/20, or 5%.

The ratio of required reserves to deposits. A reserve ratio of 10% means that banks must hold 10% of their deposits as a reserve.

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3 0
2 years ago
Suzanne, Kyle, and Monique have been arguing for days over how they are going to divide up the responsibilities for their group
motikmotik

Answer:

Emergence.

Explanation:

In this context, it can be said that Suzanne, Kyle and Monique are in the emergence phase of group decision making.

This phase occurs right after the conflict phase, in the emergence phase the ideas will be finally defined and there will be a consensus among the team.

At this stage it is common for the individual interests and needs of the team members to be set aside in favor of the team's interests.

Therefore, project members also tend to adopt a more softening stance and opinions with the intention of not appearing dominant in relation to the project.

6 0
3 years ago
Place the components of the M2 money supply in order, from smallest to largest
dimulka [17.4K]

Answer:

Small time deposits, money market mutual funds, currency, checkable deposits, savings deposits.

Explanation:

8 0
3 years ago
The given statements are about monopolistic competition. Indicate whether each statement is true or false. A monopolistically co
Nuetrik [128]

Answer:

1. A monopolistically competitive firm may be able to distinguish itself from other firms by adjusting the physical attributes of its product, by offering a distinctive level of service, or by selecting a convenient location.- True

2.Product differentiation enables a monopolistically competitive firm to have some control over the price of its product- True

3.In the long run each monopolistically competitive firm produces a level of output that results in allocative efficiency.- False

4. In the long run each monopolistically competitive firm produces a level of output that results in productive efficiency- False

5.To maintain a competitive edge and earn economic profits, a monopolistically competitive firm has an incentive to improve its product. -True

6. Compared with purely competitive markets, under monoplistic competition consumers with a diversity of tastes can benefit from the opportunity to choose from a greater range of products and services. -True

7.In order to maximize its profits, each monopolistically competitive firm must determine the price of its product, how to differentiate its product, and how much it will spend on advertising.True

Explanation:

3 0
3 years ago
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