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Anni [7]
3 years ago
12

Instead of deciding to finish high school, you could have decided to work full-time. How would an economist explain your decisio

n to receive your high school degree?
a. The benefit of working full-time was greater than the cost of going to high school.
b. The benefit of working full-time was greater than the benefit of going to high school.
c. The cost of working full-time was greater than the benefit of going to high school.
d. The cost of going to high school was greater than the benefit of working full-time.
e. The benefit of going to high school was greater than the benefit of working full-time.
Business
1 answer:
Soloha48 [4]3 years ago
5 0

Answer:

The correct answer is letter "E": The benefit of going to high school was greater than the benefit of working full-time.

Explanation:

Opportunity cost refers to the difference between choosing an option over another. It represents the benefit (if any) of the chosen option over the potential benefit obtained over the option that was forgone. In some cases represents what was "left on the table".

If choosing going to high school instead of working full-time, that implies, for that person, <em>graduating provides a higher benefit than being paid monthly for a regular job</em>.

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6 0
3 years ago
Kordel Inc. acquired 75% of the outstanding common stock of Raxston Corp. Raxston currently owes Kordel $500,000 for inventory a
Nady [450]

Answer:

what amount of Raxston’s liability should be eliminated? d.$500,000

Explanation:

At different levels of the consolidation, certain intercompany payables and receivables balances must be eliminated. Eliminations are only required in the context of a consolidation where the trading parties are both included in a given consolidation.

8 0
3 years ago
Distinguish between the benefiets of traditional banking amd the benefiets of online banking
Alona [7]
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while
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6 0
3 years ago
Gilberto's Performance Pizza is a small restaurant in Chicago that sells gluten-free pizzas. Gilberto's very tiny kitchen has ba
Leno4ka [110]

Answer:

However, Gilberto's decision regarding how many workers to use can vary from week to week because his workers tend to be students. Each Monday, Gilberto lets them know how many workers he needs for each day of the week. In the short run, these workers are <u>VARIABLE</u> inputs, and the ovens <u>FIXED</u> inputs.

Explanation:

In the long run, all inputs are variable. E.g. in 5 years Gilberto might build his own pizza place and he will be able to make the kitchen as large as he wants.

But in the short run, some inputs are variable because they can be changed immediately, e.g. the number of workers changes on a weekly basis. While other inputs are fixed, and cannot be changed, e.g. Gilberto has a two yer lease contract for the ovens, so he will continue to use these ovens until the lease expires (in 2 years).

The long run and short doesn't depend on time, but on the ability of being able to change the inputs consumed by a business. The long run might represent 10 years for a company that signed a 10 year lease contract.        

5 0
3 years ago
Wallen Corporation is considering eliminating a department that has an annual contribution margin of $80,000 and $160,000 in ann
krok68 [10]

Answer:

$10,000

Explanation:

We need to find the segment margin of the deparment, which is equal to annual contribution margin minus avoidable fixed costs:

Wallen Corporation

Annual contribution margin            $80,000

Annual fixed costs                           $160,000

Unavoidable fixed costs                 $90,000

Avoidable fixed costs                     $70,000

Segment Margin  = Annual contribution margin - avoidable fixed costs

                             = $80,000 - $70,000

                             = $10,000

Therefore, if the company eliminated this department, it would have a financial advantage of $10,000, equivalent to the deparment's current segment margin.

                     

5 0
3 years ago
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