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abruzzese [7]
2 years ago
5

Opportunity costs are a large factor in individual decision-making. Please sort the statements according to whether or not they

have an opportunity cost.
Has an opportunity cost
Having a "lazy afternoon"
Working an 8 hour shift
Cooking dinner
Eating out
Reading you favorite book
Catching up with an old friend
Does not have an opportunity cost
Nothing
Business
1 answer:
uranmaximum [27]2 years ago
4 0

Answer:

Has an opportunity cost

  • Having a "lazy afternoon" VS Working an 8 hour shift VS
  • Cooking dinner VS Eating out
  • Reading you favorite book VS Catching up with an old friend

Explanation:

Opportunity costs refer to the extra costs or benefits lost associated with choosing one activity or investment over another alternative. In other words, every  activity that you carry out includes the opportunity cost of not doing something else. No matter what we do, we could be doing something else.

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Nataly [62]
This scenario is considered a Pareto Improvement. In neoclassical economics, a pareto improvement is an action done in the economy that does no harm in the process but helps at least one of the transacting bodies. No one will be harmed by the selling of the book and the two parties will instead be helped. 
6 0
3 years ago
A policy maker argues that congestion on the roads can be solved by private ownership of the roads. He argues that if the roads
Roman55 [17]

Answer:

Externalities can be defined as those activities that incurs cost on another party.

Road congestion creates externalities such as increased time for travel, more pollution in a city, more likelihood of accidents, more stress for road users.

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If road are private, congestion is going to fall and there would be excludability. But this is a public good, turning it to a private good would cause issues. Private markets benefits out is positive externalities.

4 0
2 years ago
On October 1, 20Y6, Jay Crowley established Affordable Realty, which completed the following transactions during the month:
Bezzdna [24]

Answer:

Affordable Realty

1. Journal Entries:

Oct. 1 Debit Cash $30,600

Credit Common Stock $30,600

To record the capital contribution of Jay Crowley.

Oct. 2 Debit Rent Expense $2,750

Credit Cash $2,750

To record the payment for monthly rent.

Oct. 3 Debit Supplies $2,350

Credit Accounts Payable $2,350

To record the purchase of supplies on account.

Oct. 4 Debit Accounts Payable $890

Credit Cash $890

To record the payment on account.

Oct. 5 Debit Cash $15,800

Credit Service Revenue $15,800

To record the receipt of sales commission for cash.

Oct. 6 Debit Automobile expenses $1,600

Debit Miscellaneous expenses, $680

Credit Cash $2,280

To record the payment of expenses.

Oct. 7 Debit Office salaries expenses $2,000

Credit Cash $2,000

To record the payment of office salaries for the month.

Oct. 8 Debit Supplies Expense $1,150

Credit Supplies $1,150

To record the supplies expenses for the month.

Oct. 9 Debit Cash Dividends, $2,800

Credit Cash $2,800

To record the payment of dividends.

2. T-accounts:

Cash

Date     Account Titles              Debit     Credit

Oct. 1   Common Stock       $30,600

Oct. 2  Rent Expense                            $2,750

Oct. 4  Accounts Payable                           890

Oct. 5  Service Revenue       15,800

Oct. 6  Automobile expenses                 1,600

Oct. 6  Miscellaneous expenses              680

Oct. 7  Office salaries expense             2,000

Oct. 9  Cash Dividends                          2,800

Oct. 31 Balance                                  $35,680

Common Stock

Date     Account Titles              Debit     Credit

Oct. 1   Cash                                          $30,600

Supplies

Date     Account Titles              Debit     Credit

Oct. 3  Accounts Payable     $2,350

Oct. 8  Supplies Expense                        $1,150

Oct. 31 Balance                                       $1,200

Accounts Payable

Date     Account Titles              Debit     Credit

Oct. 3   Supplies                                     $2,350

Oct. 4   Cash                             $890

Oct. 31  Balance                     $1,460

Service Revenue

Date     Account Titles              Debit     Credit

Oct. 5   Cash                                         $15,800

Rent Expense

Date     Account Titles              Debit     Credit

Oct. 2   Cash                           $2,750

Supplies Expense

Date     Account Titles              Debit     Credit

Oct. 8   Supplies                      $1,150

Automobile Expense

Date     Account Titles              Debit     Credit

Oct. 6   Cash                             $1,600

Miscellaneous Expense

Date     Account Titles              Debit     Credit

Oct. 6   Cash                             $680

Office Salaries Expense

Date     Account Titles              Debit     Credit

Oct. 7   Cash                         $2,000

Cash Dividends

Date     Account Titles              Debit     Credit

Oct. 9   Cash                           $2,800

3. Unadjusted Trial Balance as of October 31, 20Y6

Account Titles                  Debit       Credit

Cash                             $35,680

Supplies                            1,200

Common stock                             $30,600

Accounts payable                              1,460

Service revenue                              15,800

Rent expense                   2,750

Supplies expense              1,150

Automobile expense        1,600

Miscellaneous expense     680

Office salaries expense 2,000

Cash dividends              2,800

Total                           $47,860   $47,860

4. a. Amount of total revenue recorded in the ledger = $15,800

b. Amount of total expenses = $10,980

c. Amount of net income for October = $4,820 ($15,800 - $10,980)

5. Increase in retained earnings for October = $2,020 ($4,820 - $2,800)

Explanation:

a) Data and Analysis:

Oct. 1 Cash $30,600 Common Stock $30,600

Oct. 2 Rent Expense $2,750 Cash $2,750

Oct. 3 Supplies $2,350 Accounts Payable $2,350

Oct. 4 Accounts Payable $890 Cash $890

Oct. 5 Cash $15,800 Service Revenue $15,800

Oct. 6 Automobile expenses $1,600 Miscellaneous expenses, $680 Cash $2,280

Oct. 7 Office salaries expense, $2,000 Cash $2,000

Oct. 8 Supplies Expense $1,150 Supplies $1,150

Oct. 9 Cash Dividends, $2,800 Cash $2,800

6 0
3 years ago
An asset used in a three-year project falls in the three-year MACRS class for tax purposes. The MACRS percentage rates starting
Studentka2010 [4]

Answer:

$791,504.40

Explanation:.

Calculation for the after tax salvage value of the asset

Asset Aftertax salvage value = $1,100,000- [$1,100,000-($2,600,000 x .0741)] x .34

Asset Aftertax salvage value = $1,100,000- [$1,100,000-$1,926,600] x .34

Asset Aftertax salvage value = $791,504.40

Therefore the after tax salvage value of the asset will be $791,504.40

5 0
3 years ago
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