What you give up to obtain an item is called your

1 answer:

7 0

A) Opportunity cost

because an opportunity cost is for example you have to pick from a xbox one or a ps4. You saw that the ps4 was more scarce for you but you had to give up the xbox one to obtain the ps4. Nothing is free in life!!! You sacrificed the xbox one for the ps4

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What is the first thing you should do when a customer requests a sale item once you’ve determined that item is out of stock? Tel

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Answer:

Tell the customer when you store’s next delivery day is and to come back then Issue the customer a raincheck for the item that is out of stock

Explanation:

Customer<em> retention</em> is important as well as <em>meeting their specific needs</em>. It is unwise to turn back a customer and refer them to a competitor, this may mean loss of business (currently and in the future). Also it is unwise to offer a substitute item as this will not meet their needs (though you may want to inform them of the substitute item if they are interested). Issue the customer a raincheck for the item that is out of stock is the best way to go and keep the business.

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Explanation:

Under monopolistic competition, firms reach equilibrium in the long-run: this equilibrium is a point in which the marginal cost of producing one additional unit of ouput are the same as the marginal revenue from the sale of the same additional unit of output.

In other words, in the long-run, firms under monopolistic competition can only break-even, they do no obtain economic profits.

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Say that the economy is in steady state. Assume now that the government implements an important educational program that makes c

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The country should become more efficient and productive as a result of the new educational program and the improvement in new technologies. This increases economic growth even if the rest of the economic factors remain the same. Higher economic growth increases the real GDP faster, decreasing production costs and increasing aggregate demand (better salaries earned by highly educated people) and aggregate supply.

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Boswell Company manufactures two products, Regular and Supreme. Boswell’s overhead costs consist of machining, $3,000,000; and a

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Answer:

a. $2,700,000

Explanation:

Using traditional costing the overhead are applied as,

Total overhead costs = 3000,000+1500,000 = $4,500,000

Total labor hours (base) = 10,000+ 15,000 = 25,000 hours

Per hour rate = 4,500,000 / 25,000 = 180/ hour

Total applied to Supreme = 180 * 15,000 = $2,700,000

All the overheads are applies evenly using total hours as base, avoiding the activity basis.

Hope that helps.

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3 years ago