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julia-pushkina [17]
4 years ago
13

Suppose a community garden in your neighborhood has both individually owned plots and a large common plot. Further assume that t

he soil and sunlight conditions are the same everywhere in the garden. Which economic concept would explain why the tomatoes grown in individually owned plots are so much better than tomatoes grown in the common plot?
Business
1 answer:
kicyunya [14]4 years ago
8 0

Answer:

The free rider problem

Explanation:

The free rider problem is a form of market failure in economics. It means that there's an insufficient form of commodity distribution in which some individuals are allowed to consume more than their fair share of the shared resources or pay less or not at all than the fair share of cost. In this case, tomatoes are overgrown and the common plot is over used, thus making individually owned plot perform better than the common plot. The whole free rider scenario occurs when those who benefits from communal services and goods do not pay for them or underpay for them and over use them.

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Carver Packing Company reports total contribution margin of $72,000 and pretax net income of $24,000 for the current month. In t
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Answer:

The degree of operating leverage and the expected percent change in income, respectively, are 3.0 and 24%. The right answer is E.

Explanation:

In order to calculate the degree of operating leverage we would have to use the following formula:

opearting leverage=<u>contribution margin</u>

                                  operating income

operating leverage=<u>$72,000</u>

                                  $24,000

operating leverage=3.0

In order to calculate the degree of expected percent change in income we would have to use the following formula:

percent change in income=percent change in sales×operating leverage

percent change in income=8%×3

percent change in income=24%

The degree of operating leverage and the expected percent change in income, respectively, are 3.0 and 24%

7 0
3 years ago
For each of the scenarios below, determine whether the employer is likely to be discriminating against a person because of age:
barxatty [35]

Answer and Explanation:

In the U.S., the Equal Employment Opportunity Commission (EEOC) is the authority protecting individuals from discrimination at work in any kind because of <em>race, gender, age, religion, ethnicity, nationality, language, sexual orientation, impairment</em> differences or any other type of unfair treatment not related to work itself.

Age discrimination could take place when certain groups of individuals are valued more than others because of their youth or because their white hair represents experience. In any situation, unequal opportunities are given which must be sanctioned. Thus:

A) A young lawyer who just finished work on a multimillion-dollar development deal downtown is hired by an economic development firm in lieu of an older lawyer who works on litigation.  

<em>This example does not represent discrimination because the election is based on performance rather than age. </em>

B) A large retail outlet hires a 30-year-old woman to greet customers instead of an 80-year-old woman who has been greeting customers in other stores for a decade.  

<em>This example reflects discrimination because a younger woman is hired mainly based on her age rather than her expertise. </em>

C) The owner of a local, hip smoothie bar in a university town just fired a graduate student who had worked at the bar for three years and instead hired a college sophomore.

<em>This example represents discrimination since a younger student is hired to replace another student who was in the last year of university.</em>

3 0
3 years ago
Suppose Mike wants to pay efficiency wages to help in the construction of his beach home. If the prevailing wage rate for electr
Alekssandra [29.7K]

Answer:

The answer to the question is c

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Answer:

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3 0
3 years ago
Identify the type of cash flow activity for each of the following events (operating, investing, or financing): a. Redeemed bonds
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Answer is given below

Explanation:

type of cash flow activity

a. Redeemed bonds   ---------------Fiancing

b Issued preferred stock -----------Fiancing

c. Paid cash dividends --------------Fiancing

d. Net income --------------------------Operating

e. Sold equipment --------------------Investing

f. Purchased treasury stock -------Fiancing

g. Purchased patents ----------------Investing

h. Purchased buildings -------------Investing

i. Sold long-term investments ----Investing

j. Issued bonds ------------------------Fiancing

k. Issued common stock -----------Fiancing

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