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3 years ago

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The period from 1920–1933, in which u.s. lawmakers sought to criminalize the purchase and consumption of alcohol, is known as th

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1 answer:

Alexandra [31]3 years ago

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Franklin D. Roosevelt

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ERIC: Hi, Hubert. This is my first economics course, and many of the concepts discussed in class are really confusing. Today the

Ymorist [56]

Answer:

ERIC: Hi, Hubert. This is my first economics course, and many of the concepts discussed in class are really confusing. Today the professor explained that the true cost of going to college includes both the tuition I pay as well as something called the "opportunity cost" of going to college. I don't understand. I pay $32,000 per year in tuition. The tuition is what I pay to the school, so it seems like that should be my true cost!

HUBERT: Hi, Eric. Many concepts in economics can be confusing at first. Let's talk it through.

Economists think of costs a bit differently than just the dollar amount that you pay. To an economist, the true cost of college includes the total value of what you give up in order to acquire your college education. In other words, not only did you give up the tuition money that you paid, but by attending college, you gave up opportunities to do other things with your time as well. This is where the idea of opportunity cost comes from.

The opportunity cost of your decision to go to college is the value of the next best alternative that you gave up. Suppose that your next best alternative to college is to work as a cashier. By not going to college, and taking this job, you could earn $16,000 per year. Then your opportunity cost of college is <u>$16,000</u>, and your total cost of a year of college is <u>$48,000</u> per year.

ERIC: I think I get it now. So when I take into account the opportunity cost of college, the true cost is actually <u>more </u>than just the tuition.

HUBERT: Correct. Thinking about costs in this way will help you make more rational decisions in your everyday life. Now tell me, how can you explain your decision to go to college?

ERIC: I chose to go to college because, for me, the value of a year in college <u>gives me a higher stand and offers me a better long-term opportunity that someone without a college degree.</u>

Explanation:

The question poses a discussion about the opportunity cost of attending college. The understanding behind this is that by choosing to go to college, Eric is forfeiting the opportunity to get a job as a cashier that would earn him $16,000 a year while incurring his college fees of $32,000. Therefore, the total cost of attending college to him should be $48,000.

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3 years ago

Gambrinus is a large company that owns and operates the breweries that produce Moosehead Lager, Bridgeport Ale, Pete's Wicked Al

svlad2 [7]

Answer:

The answer is departmentalization by product.

Explanation:

Departmentalization refers to the divisions of different work areas. Each one specializes in a specific job, most companies use departmentalization and train their employees, making them specialists in their role.

The main objective of departmentalization is to specialize in activities and facilitate processes while maintaining control in the organization. The departmentalization is usually divided by product, function, process, project, clients, and territory.

For example, in the case of departmentalization by-products, it is used by large companies to divide the area where the product is developed and those in charge of product delivery, thus obtaining better control, organization, and production.

<em>I hope this information can help you.</em>

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3 years ago

Problem:Water flows from a bathroom tap at a rate of 2 gallons every 6 seconds. Questions At this rate,how many minutes will it

katrin2010 [14]

Answer:

4 minutes.

Explanation:

The rate of flow from the tap is 2 gallons every six second

which comes out to be 1 gallons per 3 seconds.

so for 80 gallons we can simply

3 * 80 = 240 which is 240 seconds.

Thus it would take 4 minutes to fill up the 80 gallon tub.

4 0

4 years ago

1. Demand curves faced by individual firms in a competitive market are thought to be perfectly elastic while the demand curve fa

eimsori [14]

Answer:

A). The demand curve looked by the flawlessly serious firms are splendidly versatile this is a result of the items selling in the ideal rivalry. The items are indistinguishable so no firm has power over the market cost, in the event that one firm builds the cost of the item the purchasers will quickly move to the result of different firms on the grounds that the items are indistinguishable. No firm has the motivator lessen the cost of their item. So the interest bend would be a level straight line corresponding to the X pivot, this demonstrates the interest is splendidly versatile. A cost increment will bring the amount requested to zero.

B). The monopolists is just the single vendor in the market, so he can charge any value he needs, yet the amount requested will be relied on the value he charges. For instance in the event that he charges a significant expense the amount demanded will be very less and the other way around. So the monopolist is capable sell more at lower costs just, the descending inclining request bend shows the negative connection between the cost and the amount requested.

C). In the ideal rivalry there is consummately flexible interest so the MR curve is likewise the interest curve of the firm. For the monopolist the MR curve lies underneath the interest curve, as the costs go bring down the MR decreases.

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3 years ago

Mervon Company has two operating departments: mixing and bottling. Mixing occupies 23,045 square feet. Bottling occupies 18,855

fiasKO [112]

Answer:

Mixing= $112,000

Bottling= $91,800

Explanation:

Giving the following information:

Mixing occupies 23,045 square feet

Bottling occupies 18,855 square feet.

Total sq= 41,900

Indirect factory costs include maintenance costs of $204,000.

First, we need to calculate the proportion of square feet for each department:

Mixing= 23,045/41,900= 0.55

Bottling= 18,855/41,900= 0.45

Now, we can allocate overhead:

Mixing= 0.55*204,000= $112,000

Bottling= 0.45*204,000= $91,800

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4 years ago