Answer:
e. The monetary price paid to obtain the ticket.
Explanation:
The opportunity cost represent the best rejected alternative of the resources used.
If a person goes to the Super Bowl, the opportunity cost is any other entertainment show it renounce to see and any other use of the 500 dollar it used to acquire the ticket.
Answer:
to solicit orders and get ratification and acceptance from his or her employer.
Explanation:
Legal authority is defined as the a provision of the law that carries the force of the law including statutes, rules, regulations, and court rulings.
So the legal authority of a person in a particular capacity is what he is legally allowed to do in a given transaction.
In this instance we are considering a salesperson. The legal authority of a salesperson is to solicit orders and get ratification and acceptance from his or her employer.
Answer:
Effect : Increase in Break Even units by 3,750 units to 18,750 units
Explanation:
Break even point is the level of activity at which a firm makes neither a profit nor a loss
Break even Point (Units) = Fixed Costs ÷ Contribution per unit
where,
Contribution per unit = Selling price per unit - Variable Costs per unit
= $12 - $8
= $4
Therefore,
<u>Before Increase</u>
Break even Point (Units) = $60,000 ÷ $4 = 15,000
<u>After Increase</u>
New Contribution = $12 - ($8× 1.10)
= $3.20
Therefore,
Break even Point (Units) = $60,000 ÷ $3.20 = 18,750
Answer:
concurrent
Explanation:
Concurrent control is when the work done by labour is monitored as the task is being performed. This is to ensure that the product of labour meets quality standards.
Feedback control involves reviewing information on the performance of workers to determine if performance meets quality standards.
Feedforward controls is also known as preventive control : identifies deviation from quality standards before they occur
Answer:
D. Krispy Kreme and Dunkin' Donuts will both choose a price of $0.85.
Explanation:
DD - Dunkin' Donuts
KK - Krispy Kreme
If DD choose price to be $1.25, KK will choose price to be $0.85 because it gives them profit of $975 among $850 / $975
If DD choose price to be $0.85, KK will choose price to be $0.85 because it gives them profit of $650 among $250 / $650
Thus, KK have a dominant strategy to choose price = $0.85 no matter what DD choose.
If KK choose price to be $1.25, DD will choose price to be $0.85 because it gives them profit of $975 among $850 / $975
If KK choose price to be $0.85, DD will choose price to be $0.85 because it gives them profit of $650 among $250 / $650
Thus, DD have a dominant strategy to choose price = $0.85 no matter what KK choose.
Both firms have a dominant strategy of choosing price = $0.85 which creates a Nash equilibrium.
