Most operating decisions of management focus on a narrow range of activity called the relevant range of production. This is further explained below.
<h3>What are
operating decisions?</h3>
Generally, Decisions about daily operations are the kinds of particular business choices that are made by every company on a daily basis. There are millions upon millions of these that have been taken, and thousands upon thousands of distinct varieties. Decisions on how to operate day-to-day activities in a firm are called "operational" and are made by a variety of employees.
In conclusion, The majority of operational choices made by management center on a certain subset of activities, which is referred to as the relevant range of output.
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Answer:
An entrepreneur wants to start a new business. Her most important priorities are having full control over her company and keeping all the profits for herself. Which type of business would best suit her needs?
---> Sole proprietorship
Explanation:
for who has this different question
Answer:
The correct answer is letter "C": if depository institutions are short of reserves, they can borrow from the Fed.
Explanation:
The Federal Reserve (Fed) is the central bank of the United States and is in charge of reviewing and passing monetary policies, regulations on banks and supervising their activities. The Fed serves as a lender of last resort in cases when banks cannot meet their minimum financial obligations and there is risk the collapse of those financial institutions will affect the overall economy.
Therefore, <em>if a depository entity is short of reserves, other banks must be the first resource of aid but if the institution cannot get the funds from other banks, the Fed acts as the last resource the depository entity could rely on.</em>
Answer: Micro; Macro; Macro; Micro.
Explanation:
Economics is divided into two main segments which are microeconomics and macroeconomics. It should be noted that microeconomics deals with study of individuals and the firms while macroeconomics studies the while economy and looks at decisions that are made by governments and countries.
a. The effect of higher cigarette taxes on the quantity of cigarettes sold.
This is a microeconomic issue as one entity is being discussed which is cigarette and the issue is related to just one particular industry.
b. The effect of higher income taxes on the total amount of consumer spending.
This is a macroeconomic issue as taxes affects the whole economy. The whole nation is affected by this decision.
c. The reasons for the economies of East Asian countries growing faster than the economies of sub-Saharan African countries.
This is a macroeconomic issue as it relates to different countries.
d. The reasons for low rates of profit in the airline industry.
This is a microeconomic issue as the issue affects just the airline industry.
The price will go up while the quantity available will get smaller. In the example that has been provided, an increase in the pay of coffee-bean pickers will lead to a rise in the price of coffee that is considered to be in equilibrium.
Even though there will be less of a need for labor, there will be more lattes available for purchase. This is despite the fact that the cost of creating lattes will fall. As a consequence of this, the supply curve for latte production moves to the right, which results in a drop in the price of lattes and an increase in the number of lattes that constitutes the equilibrium quantity.
In the scenario that the price of coffee goes down, there will be a leftward change in the demand curve for tea. As a result, the establishment of a new equilibrium would point to a decrease in both the quantity and the price that constitute the equilibrium state.
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