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Luda [366]
3 years ago
8

The opportunity cost to a consumer who smokes cigarettes is the:

Business
1 answer:
andreyandreev [35.5K]3 years ago
6 0

Answer: d. Products the consumer could have bought instead of cigarettes.

Opportunity cost refers to the loss benefits from the choices a person would have made if he or she had not made a particular choice.  

Opportunity cost is also known as alternate cost.

In this question, had the consumer would have spent on other products if he had not bought cigarettes. Hence these products represent the opportunity cost of cigarettes.

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DEFINE visible trade and invisible trade​
Andreyy89

Answer:

visible trade in economics, exchange of physically tangible goods between country involving import and export it is distinguished from invisible trade

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3 years ago
How did the New Deal change things for American Workers?
DochEvi [55]

The New Deal changed the role of government completely.  Before the New Deal, government had essentially no role in steering the economy or in providing for the people.  After the New Deal, the government has come to play a huge role in both of these things.

Before the New Deal, the government was expected to be more or less laissez-faire.  It was supposed to just stay out of the way and let the economy rise or fall "naturally."  If people were too old to work, they needed to rely on family.  If a bank failed, its depositors were out of luck.  The New Deal changed all of that.

4 0
3 years ago
Two external factors which must be considered in pricing decisions are​ __________. A. the marketing mix and the nature of the m
Nat2105 [25]

Answer:

The correct answer is D. demand and the nature of the market.

Explanation:

External factors: Nature of the market and demand

The price-demand relationship varies in different market classes, and how the way the buyer perceives the price affects the pricing decision. 4 types of markets .

  • If there is pure competition: merchants in these markets do not devote much time to marketing strategy. There is no charge for the products. It is standardized.
  • In monopolistic competition: it is within a price range, it can vary by quality, or the services that accompany it.
  • In oligopolistic competition: they can be uniform products or not, they are constantly watched over the competition. If prices rise, buyers will quickly change them as a supplier. There are few vendors and it costs others to enter.
  • In a pure monopoly: a market formed by a single supplier, unregulated monopolies have the freedom to set their prices, however they do not take advantage of them for several reasons, not to attract competition, fear of regulation and to penetrate the market.
  • Demand curve: curve that shows the number of units that the market will buy in a specific period at the different prices that could be charged.
  • Price elasticity: Measurement of the sensitivity of demand between changes in the price. It is obtained with the following formula: Elasticity of demand with respect to price = percentage of change in the amount of demand Percentage of change in price
8 0
3 years ago
Read this excerpt from "A Student's Guide to Global Climate Change."
Assoli18 [71]

Answer:

Standing water can increase the mosquito population.

Explanation:

hope it helps

4 0
3 years ago
Read 2 more answers
Georgia, Inc. has collected the following data on one of its products. The direct materials quantity variance is: Direct materia
vazorg [7]

Answer:

$30,000 unfavorable

Explanation:

Provided Information,

Standard Material per unit = 4lbs

Rate per unit = $1 per lbs

Actual finished units = 30,000

Actual direct material used = 150,000 lbs

Standard Raw material for actual finished goods = 30,000 \times 4lbs = 120,000 lbs

Material quantity variance = (Standard quantity - Actual Quantity) \times Standard Rate

= (120,000 - 150,000) \times $1 per lbs

= - $30,000

Since value is negative because actual quantity used is more than standard quantity, the variance is unfavorable, therefore, material quantity variance = <u>$30,000 unfavorable</u>.

7 0
4 years ago
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