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Ratling [72]
3 years ago
6

In the following examples, state how you would use the principle of marginal analysis to make a decision.

Business
1 answer:
kogti [31]3 years ago
5 0

Answer:

Human beings make decisions at the margin which means that they make decisions depending on if the marginal benefits outweigh the marginal cost.

a. Deciding how many days to wait before doing your laundry.

Here the marginal benefit of waiting before you do your laundry is that you will have extra time to do other things you want to do. The marginal cost however would be that you will keep having less and less clothes to be able to choose from. Therefore the amount of time that you will take before doing your laundry depends on whether you value your free time over the amount of clothes you have to choose from.

b. Deciding how much library research to do before writing your term paper.

The marginal benefit here would be that if you use a lot of research your work will be more in-depth as you will find more information ( past or present) that will help you do the research. The marginal cost however is that you will have less time to do other things such as going to classes. Your decision would depend on if you think the research is more important than time for those other things or vice versa.

c. Deciding how many bags of chips to eat

Marginal benefit would be satiating your hunger. Marginal cost would be the calories you might gain as well as the cost of the chips. You will make a decision depending on if you believe the hunger being satiated is more beneficial than the calories gained and the money spent.

d. Deciding how many lectures of a class to skip

Like the first decision, the marginal benefit here would be the extra time you would gain to do other things. The marginal cost however, would be the risk of falling behind on material. Your decision will depend on if you value your extra time more than falling behind. If you do, you will miss more lectures. If you don't you will miss less lectures.

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A dealer bought some tires for 6500. the tires were sold for 9500. making 50 on each tire. how many tires were involved?
VMariaS [17]
Cost price = 6,500
Selling price + profit = 9500
Profit gained = 9,500 - 6,500 = $3000
Number of tires bought = 3000/50 = 60
The dealer bought 60 tires.

6 0
3 years ago
Compute the total manufacturing cost for a manufacturer with the following information for the month. Raw materials purchased $
olga_2 [115]

Answer:

Cost of goods manufactured= $87100

Explanation

Total manufacturing cost is the aggregate amount of cost incurred by a business to produce goods in a reporting period.

Generally accepted accounting principles require that the cost of goods sold shall consist of:

the cost of direct materials

the cost of direct labor

the cost of manufacturing overhead

Expenses that are outside of the manufacturing facilities, such as selling, general and administrative expenses, are not product costs. They are reported as expenses on the income statement in the accounting period in which they occur.

In this exercise:

<u>Cost of goods manufactured:</u>

Direct materials= $56,000

Direct Labor=$15,600

Factory overhead=Factory supervisor salary+ Depreciation expense+Indirect materials= 10,000 +3,700+1,800= $15,500

Total= $87100

Note: Salesperson commissions and  Depreciation expense Delivery equipment are not included in factory overhead

4 0
3 years ago
Annual general meeting what is it?
Sonbull [250]

Answer: Gathering of the directors and stockholders (shareholders) of every incorporated firm, required by law to be held each calendar year. Generally, not more than 15 months are allowed to elapse between two AGMs, and a 21-day's written notice of its date is required to be given to the stockholders. The main purpose of an AGM is to comply with legal requirements, such as the presentation and approval of the audited accounts, election of directors, and appointment of auditors for the new accounting term. Other items that may also be discussed include compensation of officers, confirmation of proposed dividend, and issues raised by the stockholders.

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Your interest rate on your loan with the credit company can go up big time if you make late payments,or go over your credit limi
andreev551 [17]

Answer: go over your credit card limit

Explanation:if you go over your credit card limit you now owe more money to the bank.

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2 years ago
You have been asked by management to explain the variances in costs under your inpatient capitated contract. The following data
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