The type of externality where market equilibrium quantity produced will be more than socially optimal quantity in absence of governemtn intervention is Negative externality.
Let understand that whenever a production of good or service negatively affect the unrelated third party who is not directly involved in a market transaction, it is said that negative externality exists in the scenario.
A very good example of commonly cited Negative Externalities are air pollution and noise pollution which was caused during production an affects unrelated third party.
If there is presence of government intervention in the production, then, the production of goods or service will be halted.
Therefore, in conclusion, this type of externality is called the Negative Externality.
Read more about Negative Externality here
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The total cost that should be paid by the family is comprised of the cost for the shirts, the pairs of jeans, and pairs of shoes. The amount for each classification of items is determined by multiplying the number of items to the price per item.
The additional information that is needed in order to come-up with a reasonable estimation of the total price to be paid is the discount rate for the jeans. In this manner the buyer will then be able to determine the current price from $40.
Answer:
B. Consolidated gross profit
Explanation:
When businesses are said to be involved, gross profits in business is simply revenue from sales minus the costs to achieve those sales. In several cases, some people might say sales minus the cost of goods sold. It tells you how much money a company would have made if it didn’t pay any other expenses such as salary, water, electricity, income taxes, copy paper, rent and so forth for its employees. It's calculation is simple and done by subtracting cost of the goods sold from revenue. That is:
Gross Profit = Total Revenue - Cost of Goods Sold (COGS).
Answer: Theo Chocolate would probably benefit from such a program because the employees who participate will have greater cross-cultural awareness.
Explanation:
The global service program would be beneficial to Theo chocolates as the workers would have the opportunity to learn about new cultures as they get to interact with farmers from the villages where the cocoa is being farmed. This would make the workers at Theo chocolates to have a high level of cross-cultural awareness.
Answer:
The correct answer is letter "B": perform an activity at a lower opportunity cost.
Explanation:
Comparative advantage is the ability of an individual, company, or country to produce a good or service at a lower opportunity cost than its competitor. Having a comparative advantage does not mean that one entity is absolutely better than another at producing a good or service. It means that it sacrifices less to do so.
