The opportunity cost of choosing to live in a rural area instead of an urban area is the accessibility to greater choices which is in terms of entertainment, food, and shopping. Thus, statement B is correct.
<h3>What do you mean by opportunity cost?</h3>
In microeconomic theory, the opportunity cost of a particular activity alternative is the loss of price or advantage that could be incurred through engaging in that activity, relative to engaging in an alternative activity providing a better return in value or advantage.
The opportunity cost of choosing to live in a rural area instead of an urban area is the accessibility to greater choices in terms of entertainment, food, and shopping. Thus, statement B is correct.
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Answer: 30 days
Explanation: Cash cycle refers to the amount of time it takes for a business from paying cash to its suppliers for raw materials and receiving cash from its customers fro the sales made.
Hence from the above we can say that :-
decrease in inventory will decrease the cycle.
Decrease in receivables will decrease the cycle.
decrease in payables will increase the cycle.
Thus,
cash cycle = 31 days - 2 days + 4 days - 3 days
= 30 days
The complete question should be:
What is a major distinction between customers who purchase a product because they are brand loyal and those who purchase by inertia?
A) the cost of the product
B) the social risk of the product
C) whether the purchase is made after a compensatory or noncompensatory decision process
D) whether the customers hold a very positive or weak attitude toward the product
Answer: whether the customers hold a very positive or weak attitude toward the product
Explanation:
A consumer who buys a product based on inertia is a consumer who buys a product he/she isn't familiar with but is attracted to purchase, therefore no strong link between the consumer and product. While a consumer who purchases a product he/she is loyal to has a very strong connection to that product.
D.
The rest simply don't make sense, but D reflects the concepts of fixed and variable costs / expenses.
Answer: Menu cost
Explanation:
Menu cost is the cost to a firm due to constant price changes. The name was coined from restaurants who changed their prices constantly by printing new menus.
For a wider definition, the menu costs also include the re-tagging of items, updating of computer systems, and hiring consultants in order to develop new pricing strategies and the costs of printing menus.
