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Anon25 [30]
3 years ago
12

Neoclassical economics and behavioral economics are similar in the assumption that people are capable of making accurate, someti

mes complex, calculations with respect to their utility-maximizing decisions.
True or False?
Business
1 answer:
laiz [17]3 years ago
5 0

Answer:

The statement is: False.

Explanation:

Behavioral economics is a psychological approach of business that examines whether individuals' assumptions on utility and profit maximization reflect their behavior and of they maximize their expected utility.

Neoclassical economics, on the other hand, refers to cost production as the most important factor in the product's price. Neoclassicals believe the price is the consumers' main driver in their decision-making.

Thus, <em>neoclassicals and behavioral economists have different focuses in business.</em>

You might be interested in
Jeff Co. sells its giant cheese wheels for $36 per wheel. The contribution margin ratio is 75% and total fixed costs are $270,00
Damm [24]

Answer:

Level of sales in dollars in order to generate a profit of $54,000 Fixed cost + Target profit/Contribution per unit $270,000 + $54,0000/0.75

= $432,000

Number of units to be sold

= Level of sales/Selling price

= $432,000/$36

= 12,000 units

The correct answer is A

Explanation:

In this case, we need to calculate level of sales in dollars, which is fixed cost plus target profit divided by contribution margin ratio. Then, we will calculate no of units to be sold, which is the level of sales divided by selling price.

7 0
3 years ago
Classifying Costs as Materials, Labor, or Factory Overhead Indicate whether the following costs of Procter &amp; Gamble, a maker
AfilCa [17]

Answer:

a. factory overhead cost

b. factory overhead cost

c. factory overhead cost

d. direct labor cost

e. direct materials cost

f. direct labor cost

g. factory overhead cost

h. direct materials cost

i.  direct materials cost

j. factory overhead cost

Explanation:

Direct Material Costs and Direct Labor Costs are easily traceable to the cost object whilst its difficult to trace Factory Overhead Costs to the cost object.

8 0
3 years ago
The u.s. economy constantly cycles through periods of expansion and contraction based on financial, political, and geopolitical
astraxan [27]
Does it it give you answer choices ?
6 0
3 years ago
To maintain production, the quality of materials must be high because no buffer inventories are available to take up the slack.
Sophie [7]

Answer:

Just in time (JIT) inventory management

Explanation:

Just in time (JIT) inventory management is a system created to lower inventory costs and increase manufacturing efficiency. JIT aligns materials and components orders with production schedules in order to reduce inventory levels to the lowest possible level.

It was developed by Toyota in order to reduce the costs of its car manufacturing processes. Once I visited a Toyota pickup factory and it was amazing to see that the whole inventory of finished engines was 4 units, and the factory produced more than 500 pickups per day.

3 0
3 years ago
Bretton, Inc., just paid a dividend of $3.15 on its stock. The growth rate in dividends is expected to be a constant 5 percent p
ArbitrLikvidat [17]

Answer:

$74.58

Explanation:

The price of share of the Bretton Inc in the given question shall be the present value of all the dividends associated with this share in the future years.

Present value of year 1 dividend=3.31(1+13%)^-1=$2.93

(3.15*1.05)

Present value of year 2 dividend=3.48(1+13%)^-2=$2.73

(3.31*1.05)

Present value of year 3 dividend=3.65(1+13%)^-3=$2.53

(3.48*1.05)

Present value of year 4 dividend=3.83(1+11%)^-4=$2.52

(3.65*1.05)

Present value of year 5 dividend=4.02(1+11%)^-5=$2.39

(3.83*1.05)

Present value of year 6 dividend=4.22(1+11%)^-6=$2.26

(4.02*1.05)

Present value of all the cash flows after 6 year=$59.22

[4.22(1+5%)/(9%-5%)]*(1+11%)^-6

Price of share                                                         $74.58                                                

6 0
3 years ago
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