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Kazeer [188]
3 years ago
12

You spent $500 last week fixing the transmission in your car. Now, the brakes are acting up and you are trying to decide whether

to fix them or trade the car in for a newer model. In analyzing the brake situation, the $500 you spent fixing the transmission is a(n) _____ cost.
O opportunity
O sunk
O incremental
O fixed
O relevant
Business
1 answer:
maw [93]3 years ago
5 0

Answer:

The answer is a sunk cost.

Explanation:

Sunk cost is irrelevant in present decision making. It is the cost that had already been incurred. It is irreversible.

Here, $500 spent on fixing the transmission does not matter again.

Opportunity cost is wrong because it means the alternative that has been forgone i.e alternative not chosen. For example, if you have an opportunity to either buy milk or bread and you went for bread, the opportunity cost is the cost of milk you didnt buy.

Incremental cost is also wrong. Incremental cost is the cost that was realized because of a decision.

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suppose the absolute values of the intercept and slope of the demand function are approximated to be 10 and 3 respectively. if t
egoroff_w [7]

The equilibrium price is $0.5 while the equilibrium quantity is 8.5

From the Demand data that we have in this question,

Slope = 3

Intercept = 10

The demand equation

D = -3p + 10

D = 10 - 3p

The supply data

Slope = 5

Intercept  = 6

Supply equation

S = 6 + 5p

D = S

This is because at equilibrium, <u>supply = demand</u>

Therefore,

10-3P = 6+5P

collect like terms

10-6 = 3p+5p

4 = 8p

Divide through by 8

p =\frac{4}{8} \\\\= \frac{1}{2}

Equilibrium price = $0.5

The equilibrium quantity

D = 10 - 3*0.5

= 10-1.5

= 8.5

Therefore from the calculation, the equilibrium price is $0.5 and the equilibrium quantity is 8.5

Read more on brainly.com/question/16689858?referrer=searchResults

3 0
2 years ago
Integrating the information streams produced by a firm into a single, coherent enterprise-wide set of data, and then using model
e-lub [12.9K]

Answer:

business intellingence (BI) and business analytics (BA)

Explanation:

Business intelligence is aetgof that is focused on the present profitability of the business. It uses past data to better improve current processes aimed at meeting the firm's present needs.

Business analytics on the other hand is the use of past data to predict future action that will best enable a firm meet its business objectives.

Therefore business intelligence and business analytics involves integrating the information streams produced by a firm into a single, coherent enterprise-wide set of data, and then using modeling, statistical analysis tools, and data mining tools to make sense out of all these data so that managers can make better decisions and better plans.

6 0
3 years ago
Economics is the study of a society's financial institutions. true or false​
rusak2 [61]

Answer:

False

Explanation:

8 0
3 years ago
Which fifth factor of production do many economists now include in addition to the four traditional factors of​ labor, capital,​
Tomtit [17]

Answer:

The correct answer is E, Information Resources.

Explanation:

Factors of production include Labor, Capital, Entrepreneurs and physical resources. But in the recent years, information has become the vital resource for organizations. Correct information and knowledge about a specific thing is crucial to the organization. For example if a company wants to introduce its new product and specifies a target audience, if the company doesn't get the accurate information about the needs and demands of that specific target area, other factor of production won't be of any use. So this information resource has become a vital and important part of the factors of production.

7 0
2 years ago
Read 2 more answers
Which of the following is the most common type of business in the US?
Snezhnost [94]
There is no following, you didn’t supply the choices.

Step to step answers
3 0
2 years ago
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