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daser333 [38]
3 years ago
7

Jane is a top-level executive and is very rich. Jane just ordered a car only to be told that she will have to wait three weeks f

or it to be delivered. Which of the following statements is true?
a. The car is not a scarce good.
b. The car is a scarce good.
c. Because Jane has unlimited funds, she incurs no opportunity cost in buying the car.
d. Jane paid too much for a car that wasn't ready on time.
Business
1 answer:
maksim [4K]3 years ago
5 0

Answer:

The correct answer is letter "B": The car is a scarce good.

Explanation:

Scarcity is the basic economic problem by which individuals have unlimited needs but finite resources to fulfill them. Scarce goods are those not easy to find, in danger of extinction or, when talking about products, which manufacturing implies long and usually expensive processes.

Thus, <em>the type of vehicle Jane is trying to purchase can be considered scarce since its the dealership does not have it usually in its inventory. Otherwise, Jane would have had the car at the moment of the buy.</em>

You might be interested in
Alejandro is a computer programmer employed by XYZ Tech Corp. He is Hispanic. He gets an offer from another company that is tryi
Amiraneli [1.4K]

Answer:

The correct answer from the options given is D)

It is not clear why XYZ did not match the other firm's offer.

Explanation:

Alejandro is already an employee at XYZ Tech Corp. If his boss is willing to let him go, it may be because they are unable to match the higher salary being offered by the competition.

Another theory is that Alejandro is no longer very productive in the current company. There is a myriad of possible reasons. However, none of these are hinted in the question.

What we know is that he is Hispanic, He is a computer programmer and he got a better offer which his current company is unable to match.

We cannot posit that this is an issue of statistical discrimination. Why? We don't know that his current boss is not Hispanic as well.

A) Statistical Discrimination arises when agents make use of an individual's measurable trait to draw conclusions regarding another characteristic important to the interaction but more difficult to detect. This clearly is not the case.

B) When the factors surrounding a job suddenly become more adverse, the employee can reject such a change. Sometimes a company may offer such employee(s) additional money to their salary for them to accept such changes. This additional money or benefit is called Compensating Differential.

This also is clearly not the case.

C) Taste-based discrimination simply examines an employer's disposition to hiring a minority applicant. This theory posits that the prejudice of an employer towards people from a minority group will ultimately affect hiring decisions.

Again, this is not the picture painted in the above scenario.

So we are left with option D as the correct answer.

Cheers!

8 0
3 years ago
Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan.1 Inventory 26 units at
Mila [183]

Answer:

a. $26,400

b. $20,520

c. $24,140.64

Explanation:

a. The computation of inventory cost by the first-in, first-out method is shown below:-

Inventory cost under first-in, first-out method = Number of units × Unit cost of 3rd purchase

= 48 × $550

= $26,400

b. The computation of inventory cost by the last-in, first-out method is shown below:-

Inventory cost by Last in first out method = (Jan 1 units × Jan 1 Inventory per unit) + (Number of units - Jan 1 units) × Feb. 19 Inventory per unit

= (26 × $400) + (48 - 26) × $460

= $10,400 + $10,120

= $20,520

c. The computation of inventory cost by the average cost method is shown below:-

Average cost per unit = (26 × $400) + (57 × $460) + (62 × $540) + (60 × $550)

= $10,400 + $26,220 + $33,480 + $33,000

= $103,100

Per unit cost = Inventory cost ÷ Total number of units

= $103,100 ÷ (26 + 57 + 62 + 60)

= $103,100 ÷ 205

= $502.93

Inventory cost under average cost method = Per unit cost × Number of units

= 48 × $502.93

= $24,140.64

Therefore we have applied the formulas.

4 0
3 years ago
Which economic activity is part of a government's fiscal policy?
blagie [28]

Answer:

D. Spending tax revenues

Explanation:

Fiscal policies are the actions of the executive wing of the government to alter its spending and taxation strategies to achieve macroeconomic objectives. Fiscal policies are the activities of adjusting government spending and taxation in the economy.  

The government receives data on the state of the economy from various agencies.  The government adjusts its spending and taxes to influence the level of economic activities to achieve steady growth and stable prices.

5 0
2 years ago
Read 2 more answers
Rodriquez Company budgeted the following sales in units: January 30,000 February 20,000 March 40,000 Rodriquez's policy is to ha
chubhunter [2.5K]

Answer:

24,000 units

Explanation:

Given:

Budgeted sales for January = 30,000

Budgeted sales for February = 20,000

Opening inventory in January = 7,500

Desired ending inventory = 20% of sales in February

                                        = 0.2 × 20,000

                                        = 4,000 units

Units required in January = 30,000 + 4,000

                                        = 34,000 units

Units to be produced in January = 34,000 - opening inventory

                                                   = 34,000 - 7,500

                                                   = 26,500 units

Budgeted sales for February = 20,000

Budgeted sales for March = 40,000

Opening inventory in February is closing inventory of January = 4,000

Desired ending inventory = 20% of sales in March

                                        = 0.2 × 40,000

                                        = 8,000 units

Units required in February = 20,000 + 8,000

                                        = 28,000 units

Units to be produced in February = 28,000 - opening inventory

                                                         = 28,000 - 4,000

                                                         = 24,000 units

5 0
3 years ago
Brad will graduate next year. When he begins working, he plans to deposit $6000 at the end of each year into a retirement accoun
Dovator [93]

Answer:

$92,8571.7937

Explanation:

The computation of the amount after 40 deposits is shown below:

= (((1 + interest rate)^number of years - 1) ÷ interest rate)× principal

= (((1 + 0.06)^40-1) ÷ 0.06) × $6,000

= $92,8571.7937

We simply applied the above formula and the same is to be considered

We considered all the things given in the question

8 0
3 years ago
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