Answer:
Implicit costs are opportunity costs. They are the cost of the next best alternative that one could have taken from the one they took.
Explicit costs are normal accounting costs which represent the expenses involved in running a business.
a. The wages and utility bills that Charles pays. EXPLICIT COSTS.
These are normal accounting expenses so they are explicit costs.
b. The wholesale cost for the guitars that Charles pays the manufacturer. EXPLICIT COSTS.
Another cost of doing business so this is explicit as well.
c. The rental income Charles could receive if he chose to rent out his showroom. IMPLICIT COST.
By not renting out his showroom and using it instead, he is losing the rental income he could be making so this is an implicit cost.
d. The salary Charles could earn if he worked as a financial advisor. IMPLICIT COST.
Another income he could be making if he wasn't selling guitars. This make it an implicit cost.
Answer:
Democratic leadership style
Explanation:
Based on the information provided it seems that Nikki's workplace has a Democratic leadership style. This refers to a type of leadership style in which the members of the group take a participative role in the decision-making process. The phrase "taking something everyone does every day and doing it slightly different." shows that the company allows it's employees to make their own decisions as long as they get the desired results.
It is penetration pricing that is illegal in the United States and many other countries<span>. So B is the correct answer</span>
Answer: b. The company will be flooded with applications from individuals who are barely qualified.
Explanation:
By putting job advertisements on popular websites which are full of people looking for jobs, the company will attract people who are underqualified but apply anyway on the off chance that they are called for an interview. The company will incur costs sifting through the applications to find suitable candidates.
This will be a waste of the company's resources as those resources could have been directed at getting prospective employees that would be a better fit with the company and have the relevant qualifications. This could have been done by going to a recruiting agency for instance.
