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sergiy2304 [10]
3 years ago
6

Jessica can produce 2 boats in a day or 100 umbrellas in a day. Paul can produce 3 boats in a day or 120 umbrellas in a day. Thi

s means that for every boat that Jessica produces, her opportunity cost is 50 umbrellas. For every boat Paul produces, his opportunity cost is 40 umbrellas. What would you illustrates the idea of comparative advantage?
Business
1 answer:
telo118 [61]3 years ago
3 0

Answer: B. Paul is relatively better at producing boats because he gives up fewer umbrellas per boat.

Explanation:

Comparative advantage is a notion introduced by famous economist, David Ricardo. It argues that entities should produce the goods that they have a lower opportunity cost in producing as this would prove they are better at producing said goods because they are more efficient.

In this scenario, Paul most definitely has a comparative advantage over Jessica in the production of boats because he has a lower opportunity cost of 40 umbrellas when he does so. He is therefore more efficient at it than Jessica.

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Answer: The <em>manufacturing costs don't include selling expenses related to goods manufactured during the period.</em>

Explanation:

Manufacturing costs by definition are the sum total of direct labour (labour charges paid for production), direct material (raw material expenses paid for producing the goods) and manufacturing overheads (other manufacturing expenses like fuel charges and accounting costs for recording manufacturing  processes etc). These costs are calculated for work in progress and finished goods.

Thus manufacturing costs= Direct Labour + Direct Material + Manufacturing Overheads.

So, thereby looking at the options <em>manufacturing costs don't include selling expenses related to goods manufactured during the period.</em>

7 0
3 years ago
During its 2021 fiscal year, Jacobsen corporation reported before tax income of 620,000
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Income before tax is the income that is before it has been taxed or before applying deduction.

<u>Explanation:</u>

An individual or organization's salary before taxes and deductions is before tax income for that company, organisation or for a single individual.

For singular pay, it is determined as the person's wages or pay, venture and resource gratefulness, and the sum produced using some other wellspring of pay. In an organization, it is determined as incomes less costs.

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3 years ago
Andrea, an enterprising individual, wants to open a store in her town. She wants her store to be of the same type as a popular c
uysha [10]

Answer:

D. Franchisee

Explanation:

A franchisee can be defined as an individual who is a small business owner who operates a franchise. A franchisee is given license by the franchisor to run a business under the franchisor's trade mark, trade name and method of operations. A franchise is a business in which the owners sell the rights to their business trade mark, trade name, logo and method of operations to a third party outlet or individuals owned separately by who we refer to as the franchisee. In this case, Andrea wants to become a franchisee by opening the same type of popular coffee chain in her town that is found in a nearby town.

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3 years ago
The following is the Bravo Unlimited adjusted Trial Balance.
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Explanation:

The preparation of the Assets section is shown below:-

                                         Alpha Dog Company

                                         Adjusted Trial Balance

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Cash                                                        $88,450

Accounts Receivable                             $150,000

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Fixed Assets

Equipment                            $295,285

Accumulated Depreciation -$238,760  $56,525

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7 0
3 years ago
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krok68 [10]

Answer:

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