By definition, opportunity cost is the cost of the next alternative that you gave up because you choose another one. In this case, there are two alternatives: the closer gas station and the farther gas station. Because you chose the cheaper but farther gas station, then the opportunity cost is $2.50 for the closer gas station.
Answer:
b. a written, signed offer by anyone to buy or sell goods.
Explanation:
Under the provisions of Article 2 of Uniform commercial code, whenever a merchant as defined by the act, signs a written document whereby he promises to buy or sell goods, such an offer gives rise to a firm offer which cannot be revoked.
The three important conditions for an offer to be termed as a firm offer would be, the agreement must be in writing and secondly, it must be signed by the party and most importantly it must state a promise to perform an act of buying/selling.
Answer:
The correct answer is letter "B": direct.
Explanation:
Direct Costs for finished goods refer to the items and services directly used in production. Other costs such as rent and insurance for the production site are indirect costs. Examples of direct costs are direct labor and materials, manufacturing supplies or even commissions out of sales.
Answer:
A. revenues will continue to rise
Explanation:
Aiyanna has a downward sloping demand curve which shows that the higher the price ,the lower the quantity demanded. If price is reduced per week, the quantity demanded would increase and total revenue would rise.
Answer:
<em>Who is the principal?
</em>
<u><em>Mario Sclafani</em></u>
<em>Who is the agent?
</em>
<em><u>The office worker</u></em>
Explanation:
Sclafani is a disclosed administrator. <em>Principals are responsible for agreements entered into by an agent when the principal approved the contract.</em>
Whenever a third party, Felix in this scenario, signs a contract with a disclosed source, Sclafani in this case, who is responsible for the contract.