Answer:
So 10 wind crimes has an opportunity cost 15 bird houses
or 1.5 per unit.
Explanation:
The opportunity cost is the cost of the goods it could been produced instead of the current output.
For the 10 wind chimes it will be the decreases in the birdhours production.
When Horatio moves to 25 from 15 wind chimes his bird house production fall to 15 from 30 Therefore, it decreases by 15
So 10 wind crimes has an opportunity cost 15 bird houses
we can do this metric by unit:
15/10 = 1.5 each additional wind chimes cost 1.5 bird house.
Answer:
D. Cost-benefit analysis
Explanation:
Cost-benefit analysis can be defined as a strategic approach which typically involves measuring and estimating the overall cost of a project, as well as all possible profits to be derived.
This ultimately implies that, the cost-benefit analysis helps business owners or project managers to weigh the benefits associated with a particular project and how to decide on what decisions (actions) to be taken.
Hence, if the government decides to build a new highway, the first step would be to conduct a study to determine the value of the project. Therefore, this study is generally referred to as cost-benefit analysis because involves weighing the incremental benefit against the incremental cost of a decision.
In conclusion, when individuals such as decision-makers or project manager, is implementing and executing a project, it is very essential and important that he does a cost-benefit analysis; by weighing the overall and potential benefits or gains to be derived from that project in comparison with the costs of execution. Thus, when the incremental benefits is greater than the incremental cost of the decision, then it is logical and safe to make the move or do it.
Answer:
earned by selling goods or services to customers.
Explanation:
Revenues are earned by selling goods or services to customers.
This ultimately implies that, revenues are typically the income that are being generated from the provision of goods and services to meet the needs or wants of customers, as well as discounts and deductions for returned products.
<em>Generally, revenues forms the first line item reported on the income statement or is the beginning of an income statement</em>.
