Dummy or indicator variables typically are values of zero or one and are used to model the effects of different levels of qualitative variables. A qualitative variable, also referred to as a category variable, is a non-numerical variable. It describes information that can be categorized.
Examples include: Eye color (variables include: blue, green, brown, hazel). Qualitative variables, also referred to as category variables, are variables without a built-in notion of hierarchy. As a result, they are quantified using a numerical scale. A qualitative variable is, for example, hair color (Black, Brown, Gray, Red, Yellow). Numerical variables are the subject of quantitative data.
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Answer:
IV
YES
Explanation:
Accounting profit= total revenue - explicit cost
Total revenue =price x quantity sold
Explicit cost includes the amount expended in running the business.
They include rent , salary and cost of raw materials
Economic profit = accounting profit - implicit cost
Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives
economic profit includes the opportunity cost of funds
In some industries, only normal profit is earned in the short run. For example, in a perfect competition and monopolistic competition, only normal profit is earned in the long run due to free entry and exit of firms in the industry. thus if only normal profit would be earned, the company should still go ahead and establish
Answer:
Fixed costs= $200
Explanation:
Giving the following information:
Output for a simple production process is given by Q = 2KL, where K denotes capital, and L denotes labor. The price of capital is $25 per unit and capital is fixed at 8 units in the short run. The price of labor is $5 per unit.
In this case, labor is a variable cost, the more you produce, the bigger it gets (total variable costs, unitary remains the same).
So, our only fixed cost is capital. We know that in a short run capital equals 8 units
Fixed costs= $25*8= 200
It looks like the answer would be 2 because 6 x 3 = 18, but 6 can only go into 15 2 times. 6, 12, 18. Hope this helps! Plz mark me brainliest!!!
Answer:
Farhan, a software programmer, is allocated a new project with a tight deadline. Due to differences in time zones between his location and that of the client, he has to work during nights thrice a week. In this scenario, Farhan is most likely to have a negative attitude toward his job due to Overtime
Explanation:
The number of hours that a person must work in order to have a balance between life and work should not be more than 40 hours a day. It is a workload that permits to have a good production level without putting in risk the welfare of the employee.
In this case Farhan is asked to work more than he is used to. Therefore, the overtime might interfere with other activities that Farhan has outside of his work. Therefore, a bad attitude might arise from Farhan.
It is always wise to compensate this extra effort that Farhan is putting into the accomplishment of this project with money or other type of perks that will motivate Farhan as he will perceive that his effort is being appreciated.