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BlackZzzverrR [31]
3 years ago
13

Steven lives in a big city where there is a shortage of parking. He has a parking spot in his driveway where he parks his car. W

hich of the following statements is most correct?
A. Steven has a lower opportunity cost of owning a car than his neighbor, who must rent a parking spot.
B. The opportunity cost of using the spot is zero, because Steven owns the house.
C. The opportunity cost of using the parking spot is the price he could charge someone else for usingthe spot.
D. The opportunity cost depends on how much Steven's mortgage payment is.
Business
1 answer:
DENIUS [597]3 years ago
5 0

Answer:

The correct answer is option C.

Explanation:

The opportunity cost of any economic decision is the cost of giving up its alternative. We are aware that we have limited resources with alternative uses and we have to use these resources to satisfy alternative needs and wants. In order to increase spending resources on one thing, we need to decrease spending on its alternative.  

Here, the parking spot on the driveway can be used for personal use or can be used for renting. The opportunity cost of using the spot for personal parking is the money that could have been earned by renting it to others.

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Riverbed Company designated Jill Holland as petty cash custodian and established a petty cash fund of $236. The fund is reimburs
11Alexandr11 [23.1K]

Answer:

The journal entry is shown below:

Explanation:

According to the scenario, the journal entries for the given data are as follows:

Petty cash A/c Dr  $236

To Cash A/c $236  

(Being establishment of the fund is recorded )

Office supplies A/c Dr  $94

Misc. Expense A/c Dr $89

Cash Over / Short Dr $22             ( $236 - $31 - $89 - $94)

To Cash A/c  $205                        ( $236 - $31)

(Being Reimbursement of the fund is recorded)

5 0
3 years ago
If the United States could produce five televisions per hour of labor and China could produce three televisions per hour of labo
IRISSAK [1]

Answer:

US specialisation in TV can be stated on the basis of Absolute Advantage, not comparative advantage.

Explanation:

Absolute Advantage is when a country can produce more output per input of a commodity, than other country.

Comparative Advantage is when a country can produce a good at lower opportunity cost (in terms of other sacrifised)

China can produce more (ie 5 units television) per hour employed, compared to US able to produce lesser (3 units) in the same time. So, on the basis of Absolute Advantage, it can be stated that US should specialise in TV production.

However, since other good's details have not been given. So, we cannot attain the relative opportunity costs. Hence, specialisation on the basis of comparative advantage can't be stated.

7 0
3 years ago
The price of NetFlex stock is $54.54; its expected dividend next year is $6, and its constant annual growth rate thereafter is 5
katrin [286]

Answer:

Rate of return is 16.11%

Explanation:

Dividend Valuation method is used to value the stock price of a company based on the dividend paid, its growth rate and rate of return. The price is calculated by calculating present value of future dividend payment.

Formula to calculate the value of stock

Price = Dividend / ( Rate or return - growth rate )

$54 = $6 / ( Rate or return - 5% )

Rate or return - 0.05 = $6 / $54

Rate or return - 0.05 = 0.1111

Rate or return = 0.05 + 0.1111

Rate or return = 01611

Rate or return = 16.11%

5 0
3 years ago
what document explains your rights and responsibilities as a federal student loan borrower? your master promissory note. your bi
Natalija [7]

The document that explains your rights and responsibilities as a federal student loan borrower is A. your master promissory note.

The master promissory note refers to the legal document where one promises to repay their loans and any fees or accrued interests to the Department of Education.

The <em>master promissory note</em> also explains the terms and the conditions of the loan that's taken. It's simply a legally binding document. One has to understand the rights and then responsibilities before one takes the loan.

In conclusion, the correct option is your master promissory note.

Read related link on:

brainly.com/question/25077675

7 0
3 years ago
Fred and Lucy are married, ages 33 and 32, and together have AGI of $120,000 in 2019. They have four dependents and file a joint
algol13

Answer:

$3,800

Explanation:

According to the scenario, computation of the given data are as follow:-

Particular                                                              Amount ($)

Bills of doctor and dentist and hospital expenses 9,200

Less-received an insurance reimbursement 4,400

Add-prescribed medicines and drugs 3,000

Add-high deductible health insurance policy 5,000

Total expenses                                  12,800

Less- AGI’s 7.5%   ($120,000 × 7.5% ) $9,000

After Deduction medical expenses for 2019 $3,800

Contribution of $2,600 to a qualification health savings account is a deduction for AGI. So it is not calculated in deduction.  

According to the analysis, option (C) $3,800 is correct.

3 0
3 years ago
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