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2 years ago

Why microeconomics is useful in business decision making? Explain

2 answers:

7 0

Explanation: The study of microeconomics helps the decision makers to analyze and determine how the productive resources are allocated for various goods and services. It also helps in solving the producers' dilemma of what to produce, how much to produce and for whom to produce. <33

UkoKoshka [18]2 years ago

6 0

Explanation:

The study of microeconomics helps the decision makers to analyze and determine how the productive resources are allocated for various goods and services. It also helps in solving the producers' dilemma of what to produce, how much to produce and for whom to produce.

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Suppose a farmer in Georgia begins to grow peaches. He uses $1,000,000 in savings to purchase land, he rents equipment for $7

Mazyrski [523]

Answer:

Economic profit = $300,000

Explanation:

<em>Economic profit is the difference between the sales revenue and the total of implicit cost and explicit cost</em>

Implicit cost are opportunity costs. For the farmer, these include

Interest on capital forfeited and salaries forfeited

= (22%× 1,000,000) + 40,000

= 260,000

Total cost = Implicit +explicit costs

= 260,000 + 260,000 +70,000 +120,000

Economic profit =750000- (260,000 +70,000 +120,000)

= $300,000

Note that the cost of land is not included because it a capital cost

8 0

3 years ago

_____ help individuals understand their roles in an organization, especially in times of crisis. Group of answer choices Verti

Vera_Pavlovna [14]

Answer:

<u>Vertical Linkages </u>

Explanation:

A linkage refers to a connect between two parts. In the organizational context, it refers to communication and coherence between different departments and levels.

Vertical linkage refers to the chain of command and assignment of responsibilities by top level management, vertically downwards to the lower level or operational level management.

Such a chain serves as a mode of communication and as means coordination within an organization.

Activities are performed and tasks are executed by the lower level management, which are consistent and in alignment with the top level management goals. The employees at lower level update their progress to the top level w.r.t the extent goals and targets have been met.

An organization may create such linkages via rules of hierarchy, creation of levels or establishment of formal system of management.

So during adverse times, such a linkage helps since, everybody is aware in advance what they are supposed to do and there is no ambiguity.

7 0

3 years ago

Woolman College is considering the construction of a new women’s dormitory. The dormitory will have 80 rooms and the ability to

lisov135 [29]

Answer:

IF WOOL MEN CHARGES $3100 PER STUDENT,THEN CONTRIBUTION PER STUDENT=

CHARGES PER STUDENT =$3100

LESS:VARIABLE COST

SUPPLIES ($350)

ASSISTANT SALARY ($155)

($7000/45)

CONTRIBUTION $2595

COST PER STUDENT:

SUPPLIES $350

OFFICE ($7000/45) $155

INSURANCE ($40000/240*) $167

REPAIR ($32000/240) $133

AND MAINTENANCE

DEPOSIT ($60000/240) $250

TOTAL $1055

Explanation:

The given table will elaborate it more.

7 0

3 years ago

I need help find out the profit or loss

love history [14]

Answer:

loss or profit
loss
profit

3 0

3 years ago

What a major economic decision that each society has to think about and decide upon

lapo4ka [179]

Society must choose what to produce based on its needs. Because we live in a world of relatively scarce resources, we have to make wise economic decisions.

I hope this helps a lil

8 0

3 years ago

Why microeconomics is useful in business decision making? Explain​

Why microeconomics is useful in business decision making? Explain