Answer:
The concept of economic profit ....... <u>alternative</u> two options.
If economic profit is positive .......... <u>Current </u>option.
If economic profit is negative............ <u>Other </u> option
Explanation:
Economic Profit is the excess of revenue associated with an option, over its costs (explicit external & implicit opportunity costs).
Example : Revenue - Direct explicit cost of production - opportunity cost (like interest on money invested, salary of job left foregone).
The concept is used to make decision between two<u> alternative</u> options. Given, zero economic profits imply indifference.
Positive Economic Profit implies - one should choose<u> Current </u>option, as it will make <u>Better off </u>, having more benefit than other option
Negative Economic Profit implies - one should choose <u>Other </u> option, as it wil make better off, having more benefit than the former considered option.
A competitive firm is a price taker.
A perfectly competitive business must accept the equilibrium price at which it sells its products because it is a price taker. A completely competitive business will not be able to generate any sales if it seeks to charge even a small amount above the going rate.
Small businesses are typically price takers, while monopolies or large, well-established enterprises with copyrighted products are typically price makers. In the stock market, individual investors take prices. further reading.
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Answer:
1) Journal entry
No. Account and explanation debit credit
a Cash dividend 220000
Preferred Dividend payable 220000
(To record dividend declared)
b Preferred dividend payable 220000
Cash 220000
(To record dividend paid)
C Cash dividend (420000-208000)*1.8 381600
Common Dividend payable 381600
(To record dividend declared)
d Common Dividend payable 381600
Cash 381600
(To record dividend paid)
The example of marketing manager Zia's use of a Decision Support System (DDS) to determine how much of a budget increase is needed to achieve a desired sales increase demonstrates that DDS is a form of artificial intelligence.
<h3 /><h3>Decision Support System</h3>
It corresponds to an automation program that can be implemented in organizations to support decisions based on data processing and indexes, providing relevant information for problem solving and support for a focused decision.
Therefore, through the DDS, the manager Zia will make her decision in a faster, more dynamic and controlled way, which helps in the competitiveness and positioning of the organization.
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Answer:
Explanation:
Financial Costs: suppliers may no longer ship product to your company if they believe you are acting in ways that damage their business. Non-Financial Costs: bad reputation among suppliers and customers.