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grin007 [14]
3 years ago
6

To complete his business bookkeeping work each month, a business owner spends about 20 hours and in the process, has to give up

$900 in income. If he hired a bookkeeper to do the work, the job would be completed in 15 hours and would cost him $600. Should the owner hire the bookkeeper or continue to do the work himself?
Business
1 answer:
Rainbow [258]3 years ago
5 0

Answer:

We need to determine the opportunity cost. In this case, there is no question that the books should be delegated to the bookkeeper. Not only he saves money ($300), he saves time that could be put to better use.

Explanation:

Giving the following information:

Owner= $900 and 20 hours

Bookkeeper= $600 and 15 hours

We need to determine the opportunity cost. In this case, there is no question that the books should be delegated to the bookkeeper. Not only he saves money ($300), he saves time that could be put to better use.

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A man with ​$20,000 to invest decides to diversify his investments by placing ​$10,000 in an account that earns 5.2​% compounded
Fynjy0 [20]

Answer:

9.749 years

Explanation:

Given that :

Principal, P = 20,000

Total investment A = 35000

Investment 1:

P = $10,000

Compounded continuously at r = 5.2% = 0.052

A = Pe^rt

Investment B:

P = $10,000

Compounded annually at r = 6.4% = 0.064

A = P(1 + r)^t

Hence, final amount, A on both investment = 35000

A = Pe^rt + P(1 + r)^t

35000 = 10000e^0.052t + 10000(1 + 0.064)^t

Divide through by 10000

3.5 = e^0.052t + 1.064^t

t = 9.749123

t = 9.749 years

8 0
3 years ago
All groups are teams. b. Groups are teams with a high level of task interdependence. c. Unlike teams, groups are associated with
Yuri [45]

Answer:

The correct answer is d. Some groups are just people assembled together in the same physical area.

Explanation:

There may be times when there is a very large group of people who concentrate because they coincide in a place and time, which does not mean that they necessarily share the same ideals. It is enough with a confirmation question to realize what it is that they are gathered.

In the workplace, people may be concentrated because they need to hear a message transmitted by an organization official, who may or may not be their immediate boss.

4 0
3 years ago
Answer the question on the basis of the following cost data.
Montano1993 [528]

Answer:

b. 4 units of output

Explanation:

MC and AVC have the following relationship:

a. MC is above AVC when AVC is rising

b. MC is below AVC when AVC is falling

c. MC = AVC when AVC is at its minimum

Thus, MC would intersect the AVC curve at its minimum point. Since AVC is minimum at 4 units of output equal to 65. It means MC intersects AVC at 4 units of output.

4 0
3 years ago
Economic decisions involve doing what with resources to produce goods and
Mila [183]
D Allocating is the correct answer
6 0
2 years ago
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Shtirlitz [24]

Answer:

unsecured loan

Explanation:

Loans that are issued without the need for collateral are unsecured loans.  The loans are not backed by any financial asset.  A lender will use different criteria to qualify a borrower for unsecured loans. Should a client with an unsecured default, the bank does not have rights to the physical properties of the client.

In most cases, banks will have schemes through which customers qualify for unsecured loans. For example, a bank can negotiate with its corporate clients for the employees' to qualify for unsecured loans. There also schemes for students and clients with good credit scores to get unsecured loans.

4 0
4 years ago
Read 2 more answers
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