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3 years ago

What is the opportunity cost in this scenario

Business

1 answer:

FrozenT [24]3 years ago

6 0

Answer: The correct answer is visiting Ouro Preto.

Explanation: Opportunity Cost is what a person misses out on when another option is chosen. In this case Mikael chose to pay the extra $200 for the transportation. In order to do this he had to give up $200 in sightseeing. The sightseeing experience of visiting Ouro Preto is the Opportunity Cost in this scenario.

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The Josey Company uses the weighted average method. The beginning work in process consists of 6,000 units (100% completed as to

zvonat [6]

Answer:

Total equivalent units= 135,000 units

Explanation:

<u>The weighted average method blends the costs and units of the previous period with the costs and units of the current period.</u>

<u></u>

Conversion costs:

Units completed and transferred out= 133,000 units

Ending WIP= 10,000*0.2= 2,000 units

Total equivalent units= 135,000 units

3 0

3 years ago

The signals that guide the allocation of resources in a market economy are

Vlad1618 [11]

The answer to this question is the term prices. Prices are the value of a certain product or services. A price is the value or amount of money being paid in exchange of the product being bought. In pricing a product or service, a markup is being set to the price.

7 0

3 years ago

Jim is being paid $7.25 an hour to work at a restaurant. In the circular flow, this is an example of a:

max2010maxim [7]

Answer:

The answer is household selling a resource in the factor market which is the same thing as business buying resource in the factor market

Explanation:

Factor market is a market in which factors of production e.g land, capital, labor are bought and sold.

In the question above, Jim(household or labor) is working at a restaurant (firm or business). This means Jim is selling his resource(labor) in the factor market while the restaurant is buying the resource(labor) in the factor market.

4 0

3 years ago

A regressive tax has the biggest impact on which sector of the american economy?

9966 [12]

A regressive tax has the biggest impact on the income of the middle-sector households. of the American economy because they are affected by the increase of the average tax rate. The regressive tax gets its large percentage from the middle sector than the high-class households with high earnings.

7 0

3 years ago

The management of Petro Garcia Inc. was discussing whether certain equipment should be written off as a charge to current operat

tigry1 [53]

Answer:

Dec 31,2020

Dr Loss on impairment $270,000

Cr Accumulated depreciation-Equipment $270,000

Explanation:

Preparation of the journal entry to record the impairment at December 31, 2020

First step is to calculate the Loss on impairment

Cost $900,000

Less: Accumulated depreciation ($400,000)

Carrying Amount $500,000

Less: Fair value ($230,000)

Loss on impairment $270,000

Now let Prepare the journal entry

Dec 31,2020

Dr Loss on impairment $270,000

Cr Accumulated depreciation-Equipment $270,000

(To record the impairment)

5 0

3 years ago

What is the opportunity cost in this scenario​

What is the opportunity cost in this scenario