The correct answer to this open question is the following.
The business decision based on the company where you work would be this. To open a new small branch of the fast-food restaurant as a concession in the municipal stadium.
The incremental cost is the future costs as a result of this business decision. This means that we have to consider extra money on a monthly basis to pay for the rent of the concession booth at the Municipal stadium.
The opportunity cost is that instead of opening our branch in the new downtown mall, we decided to move with the stadium option. Having decided to be at the mall could have allowed us to have more clients on a daily basis, especially on weekends.
The sunk cost is a cost from the past, an historical cost that really is not important in the present time to make a decision. Maybe, just a reference to a case in the past. And that's it.
Here we can refer to a cost when we opened the first location of the restaurant, but it was five years ago. Those were different situations, necessities, and conditions.
<u>Solution and Explanation:</u>
As the utility function is concave in shape, so person is risk averse. Thus, he will not accept the gamvle.
The difference between utility at point A&C = 70 minus 65 = $5, is less than a the difference between A&B = 65 minus 55 = $10
<u>MCQ:
</u>
Answer is option a&d - risk averse people fear a lot for losing money, thus they overestimate the probability of loss
Since, shape of utility function is concave, hence the double derivative of utility with respect to wealth is negative, so utility falls at an decreasing rate , as wealth increases
<h3>limit the time in which an injured party may sue. only apply to the sale of goods. </h3><h3 />
The length of time allowed under a statute of limitations varies depending upon the severity of the offense as well as the jurisdiction it is being disputed.
<h3>What is Statue of Limitations ?</h3>
A statute of limitations is a law that sets the maximum amount of time that parties involved in a dispute have to initiate legal proceedings from the date of an alleged offense, whether civil or criminal.
- Cases involving severe crimes, like murder, typically have no maximum period.
Learn more about Statue of Limitations here:
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<span>Marketing Myopia is the term for when a company does business in terms of goods and services instead of focusing on the benefits consumers are looking for. These companies are focused on the bottom line. It is considered a short-sighted view by most experts and often causes the companies in question to be unable to quickly adjust when there are changes in their particular markets.</span>
