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icang [17]
3 years ago
14

Tyrone's boss said that he can come and work for an extra 3 hours this afternoon, but it is optional. Tyrone decided to go to th

e beach instead. Assuming he makes $14 an hour (after taxes) and his trip to the beach costs him $10 in gas and toll, how much is his opportunity cost to go to the beach?
Business
1 answer:
AfilCa [17]3 years ago
4 0

Answer:

$4

Explanation:

The computation of the opportunity cost for going to the beach is shown below:

= Hourly wages after considering the taxes - the cost of the beach in gas and toll

= $14 - $10

= $4

We simply deduct the cost of beach in gas and toll from the hourly wages so that the opportunity cost to go to the beach could come

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3. Analyze. Explain how scarcity is related
frosja888 [35]

Scarcity is the condition wherein the mean to and end (that is resources required to achieve set goals) are limited in relation to the goals that need to be achieved.

Because of the above, one has to carefully make their choice while allocating the resources accordingly.

<h3>What is opportunity Cost?</h3>

When a choice is made between two competing alternatives, it means that one alternative has to be foregone. The alternative foregone is called the Opportunity Cost.

<h3>What is a rationing device?</h3>

A rationing device is a system that determines who receives what of limited commodities and resources.

Price is one of the most regularly employed rationing techniques in a capitalistic (market-based) economic system.

Those who are willing and able to pay the price for a certain commodity (or resource) can obtain it.

Learn more about Scarcity:
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8 0
1 year ago
As one of the top managers at DropLabs, Henry ensures that all his employees are given the right to speak freely with their mana
Mice21 [21]

Answer:

The Common Good Ethics Approach.

Explanation:

It is been argued that the best society is been guided by the people's general will.This was postulated by a French philosopher by name Jean Jacques Rousseau who lived in the year 1712 to 1778.

This approach to Ethics empathizes respect and compassion for others,most especially those vulnerable.

The employers ability to voice out their grievances,suggestions and contributions to the daily running of the organisation coupled alongside the mangers compassion and respect for all individuals confirms to my first statement which says 'The best society is been guided by the people's will ' and that supports the common good Approach.

4 0
3 years ago
Read 2 more answers
A corporation has a $500,000 beginning balance in retained earnings. its net income for the year was $200,000. sales revenue amo
natta225 [31]
Given:
<span>$500,000 beg. balance in retained earnings.
</span>$200,000 <span>net income for the year
</span>$1,000,000 <span>sales revenue
</span>$100,000 <span>dividends declared and paid by year-end

Retained earning is the amount left from net income after dividends have been paid. In the given data, sales revenue is not included in the Retained earnings report. It is reflected in the Income statement which generates the Net income. 

Retained Earnings, beg. balance            500,000
Add: Net Income for the year               <u>   200,000</u>
Total                                                                           700,000
Less: Dividends declared and paid this year          <u>   (100,000)</u>
Retained Earnings, end balance                             600,000

</span>
6 0
3 years ago
The weighted average cost of capital is​ ________. A. the cost of capital for the firm as a whole B. made up of three financing​
Alona [7]

Answer:

The answer is D. All of the above

Explanation:

The Capital structure of most companies comprise equity, debt and/or preference shares. All these that made up capital structure has cost or let's say return. We have cost of capital, cost of debt, cost of preference shares.

Therefore, weighted average cost of capital is average of the cost of each financing​ component(cost of capital, cost of debt and cost of preference shares), weighted by the proportion of each component

All the options relates to the weighted average cost of capital(WACC).

5 0
2 years ago
The technical terminology or characteristic idiom of a particular group is called _____.
adelina 88 [10]
Your answer is C, Jargon.
8 0
3 years ago
Read 2 more answers
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