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cestrela7 [59]
3 years ago
6

Suppose that a small family farm sold its output for $100,000 in a given year. The family spent $25,000 on fuel; $40,000 on seed

, fertilizer, and pesticides; and $25,000 on equipment, including maintenance. The family members could have earned $20,000 working at other occupations. What is the family's accounting cost? What is the family's economic cost? Could the family's economic cost ever exceed its accounting cost? Why or why not?
Business
1 answer:
yarga [219]3 years ago
6 0

Answer:

Accounting Cost

Accounting costs refers to the explicit costs which ar the actual costs related to the business venture. In this case that would be:

= Fuel costs + Seed costs  + Equipment

= 25,000 + 40,000 + 25,000

= $90,000

Economic cost

This includes the accounting costs and then adds the implicit costs which are the opportunity costs of choosing the current business venture. In this case it is the $20,000 they could have been making working at other occupations.

= Accounting cost + Salary foregone

= 90,000 + 20,000

= $110,000

Economic costs will always be higher than Accounting costs because they include both the accounting costs and opportunity costs.

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People often have different suggestions and may or may not agree with each other. Due to groupthink, Amaya did not voice her concern as she did not want to appear unsupportive of the team.

  • Groupthink is known to be a situation that takes place when a group of individuals arrive at a consensus without critical reasoning or looking into the repercussions or alternatives.

It is often based on a common desire not to anger the balance of a group of people.

It can also be regarded as a psychological phenomenon where individual strive to meet a consensus within a group.

Learn more about Groupthink from

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3 years ago
In Ricci v. DeStefano, Ricci, a white firefighter, took and passed the City of New Haven firefighter's test, required of all app
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The correct answer is A. In Ricci v. DeStefano, the Supreme Court ruled that an employer may not simply disregard a test based on unwanted results unless the test is shown to be biased or deficient.

Explanation:

Ricci v. DeStefano is a Supreme Court ruling of 2009, after a lawsuit by nineteen firefighters who claimed to have been discriminated against in terms of career development.  They denounced that they had been discriminated after having passed the admission tests and still had not been promoted, since no African-American candidate had passed the tests. They also denounced that they had not been promoted because the Fire Department did not want to promote a group of new recruits without including within it any member of racial minorities.

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Three $1,000 face value, 10-year, noncallable, bonds have the same amount of risk, hence their YTMs are equal. Bond 8 has an 8%
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Answer:

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8 0
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Assume that you are a consultant to Lotte Inc., and you have been provided with the following data: D1 = $0.67; P0 = $27.50; and
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The cost of equity from retained earnings based on the DCF approach=9.44%

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94. Averaging the deviations from the mean for a portfolio of securities will: A. compute the standard deviation. B. compute the
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Answer: C. equal zero

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