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Anestetic [448]
3 years ago
6

Suppose we have a 2-person world, with only Stephen and his friend LeBron. Suppose that Stephen can move 70 boxes or bake 28 coo

kies in an hour. Suppose that LeBron could move 24 boxes or bake 6 cookies in an hour. Is trade possible?
a. No, trade isn’t possible, because LeBron has an absolute advantage in both making cookies and moving boxes.
b. Yes, trade is possible. Stephen should move boxes while LeBron makes cookies, because Stephen has a comparative advantage in moving boxes, whereas LeBron has a comparative advantage in making cookies.
c. Yes, trade is possible. Stephen should make cookies while LeBron moves boxes, because Stephen has a comparative advantage in making cookies and LeBron has a comparative advantage in moving boxes.
d. No, trade isn’t possible, because Stephen has an absolute advantage in both making cookies and moving boxes.
Business
1 answer:
PIT_PIT [208]3 years ago
3 0

Answer:

Option (c) is correct.

Explanation:

Stephen can move 70 boxes or bake 28 cookies:

Opportunity cost of moving a box = (28 ÷ 70)

                                                         = 0.4 cookies

Opportunity cost of baking a cookie = (70 ÷ 28)

                                                         = 2.5 boxes

LeBron could move 24 boxes or bake 6 cookies:

Opportunity cost of moving a box = (6 ÷ 24)

                                                         = 0.25 cookies

Opportunity cost of baking a cookie = (24 ÷ 6)

                                                             = 4 boxes

Yes, trade is possible.

Stephen has a comparative advantage in baking cookies because of the lower opportunity cost than LeBron, so he is specialized in baking cookies.

On the other hand, LeBron has a comparative advantage in moving boxes because of the lower opportunity cost than Stephen, so he is specialized in moving boxes.

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Answer:

The correct answer is:  feasible and efficient.

Explanation:

The production possibility curve or frontier shows the different bundles or combinations of two goods that be produced using the given resources and state of technology.  

All the points on the production possibilities curve represent the combinations that are feasible and efficient.

The points below the curve show the points that are feasible but inefficient.

The points above the curve show the points that cannot be attained using the given level or resources and technology.

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3 years ago
Kingbird, Inc. has the following information available for accruals for the year ended December 31, 2019. The company adjusts it
Anton [14]

Answer:

a-Dec-31. Dr Utility expense   485

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b-Jan-11.  Dr Utility bills payable  485

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c-Dec-31. Dr Salary expense  3990

                Cr  Salary payable                3990

d-Dec-31. Dr bank 51600

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e-Dec-31 Dr Interest expense  215

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f-Dec-31 Dr Account receivable  340

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For a 13-person team, The number of extra workers that should be hired to meet the labor hours needed without overtime is 7.

<h3>What is Labor hours?</h3>

This is a term that connote the total hours of workers that are said to be having or getting an hourly wage and they are the ones who are said to be directly employed on the site of a building, public works project, etc.

Note that "Labor hours" is one that entails hours of work that has been carried out  by workers who have been employed by the general contractor or the subcontractors  that are found to be working on the project.

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brainly.com/question/24868261

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2 years ago
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Answer:

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Maintaining proper liquidity is an important financial objective of management. Proper liquidity management demands that an entity should be able to meet his short term financial obligation and making sure that liquid assets of the entity are not idle. In order to achieve this, the best way to go is to maintain a level that is neither too high and not too low. Not too high means the entity is not holding too much cash or liquid assets than it currently need to meet its short term financial obligation.

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Not too low means the cash or liquid assets held by an entity should not less than the amount needed to meet its short term financial obligation. For example, making sure that the entity has enough cash or readily convertible liquid assets that can be used to pay vendors, rent, interest and meet other short term financial obligation.

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