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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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The Dealey Electric Group produces light bulbs that are used in refrigerator manufacturing. Currently, only three other companie
WINSTONCH [101]

Answer: Oligopoly

Explanation:

The market type being described in the question is an oligopolistic market, where Dealey electric group and three other companies are in control of bulb production.

An oligopolistic market is a market where sales is being controlled by a very few number of companies and the prices of commodities in that market are also controlled by those companies.

4 0
3 years ago
Name two steps Mexico’s government did to reform their economy.
Tju [1.3M]

Answer:

privitazation of government operated firms, and they opened the economy to trade and foreign investment

Explanation:

7 0
3 years ago
Trisha is appointed as the new CEO of an automobile manufacturing company. She decides to introduce a new set of organizational
scoray [572]

Answer: Behavioral addition

Explanation:

The behavioral addition is one of the process that helps in understand the behavior of an organization in terms of performance, change in the policies and productivity the firm.

 It is also refers to the process performing the new behavior in an organization by the employees or the manager.

According to the given question, Trisha is the new CEO of the manufacturing firm and she introducing the various types of new policies for the purpose of improving the performance of the company.

Therefore, Trisha is using the behavioral addition for illustrating the given scenario.  

6 0
3 years ago
Using the following information, prepare a vertical analysis of two years' income statements. Fees Earned is $153,500 for Year 2
pishuonlain [190]

Answer:

Following Statement is true

Operating income has increased as a percentage of revenue.

Vertical Analysis

                                                                        Year 2            Year 1        

Fees Earned                                                  $153,500       $149,700

Operating expenses                                     <u>$122,800</u>       <u>$127,245</u>

Operating Income                                          $30,700        $22,455

Operating Income as percentage of sales       20%               15%

Operating Income as percentage of sales is increased in year 2.

<u>Which of the following statements are true?</u>

Operating income has decreased as a percentage of revenue.

Operating income has increased as a percentage of revenue.

None of these choices are correct.

Operating expenses have increased as a percentage of revenue

7 0
3 years ago
Baker Inc. acquired equipment from the manufacturer on 10/1/2018 and gave a noninterest-bearing note in exchange. Baker is oblig
bekas [8.4K]

Answer:

4%

Explanation:

Interest included in $918000 is for six months from 10/1/18 to 4/1/12.

Interest for first three month period from 10/1/18 to 31/12/18 = $9000.

This implies that :

Interest from 1/1/19 to 4/1/19 = $9000.

Principal amount excluding interest due:

= Baker's obligation amount - Accrued interest - Accrued interest

= $918,000 - $9,000 - $9,000

= $900,000

Interest rate:

= [($9,000 × 12/3) ÷ 900000] × 100

= 4%

8 0
3 years ago
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