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Lelu [443]
3 years ago
8

You want to go the Six Flags amusement park. The ticket price to enter and enjoy the rides in Six Flags is $65. You live in Rich

ardson and you need to take an Uber to go there which will cost you $40. Approximately, you will spend 6 hours in the park. Instead of going to the park, you could have driven as an Uber driver and for 4 hours (out of the 6) and earned $12 per hour. If you decided not to drive the Uber, you could have also played an online competition during this time and earned $25.
Required:
a. What is the Opportunity Cost of going to Six Flags?
b. What is the total cost of choosing to go the Six Flags?
Business
1 answer:
Lyrx [107]3 years ago
4 0

Answer:

Results are below.

Explanation:

<u>The opportunity cost is the amount of money that you won't earn when choosing one option over another. </u>In this case, one option makes you expend money and the other earn money.

Opportunity cost= 12*4 + 25

Opportunity cost= $73

<u>Now, the total cost incorporated what you will expend in Six Flags:</u>

Total cost= 65 + 40 + 73

Total cost= $178

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Advertising regulations provide a set of rules and regulations that protects the consumer from deceptive or misleading claims.

Answer: Option (d)

<u>Explanation:</u>

Advertising regulations is a consumer protection act that safeguards the peoples from being misled in false information about sales and trade.

These regulations evaluates the bad products in a company and makes it fail easily.

It explains the detailed information about the severity of false product in a company and prevents the people from consuming that product.

FTC is one of the advertising policies commonly referred to as the Federal Trade Commission safeguards the consumers from unwanted practices and it also protects the basic rights of the consumer in a state.

FTC uses three major bureaus to evaluate the fraud practices involved in a business and implements a proper advertising activities.

Bureaus of Competition, Economy and Consumer protections implies the best practices of advertising policies.

7 0
3 years ago
Intensive distribution is most likely to be used for Unsought goods. Convenience goods. Specialty goods. Shopping goods.
Volgvan

Answer:

The correct answer is letter "B": Convenience goods.

Explanation:

Intensive distribution is the act by which companies offer their products to as many stores as possible with the purpose of having the good available almost everywhere consumers go. This type of marketing strategy fits best with convenience goods such as grocery items, fuel or newspapers.

6 0
3 years ago
Newman Consulting Company maintains its records on a cash basis. During 2021 the following cash flows were recorded: cash receiv
Rainbow [258]

Answer: $143,000

Explanation:

Accrual Income for the year = Cash from clients + Closing receivable balance - Opening receivable balance - Salaries - (Utilities - Opening utilities owed + closing utilities owed) - Advertising

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3 0
3 years ago
Frantic Fast Foods had earnings after taxes of $1,380,000 in 20X1 with 301,000 shares outstanding. On January 1, 20X2, the firm
Free_Kalibri [48]

Answer:

$4.58

Explanation:

The formula to compute the earning per share is shown below:

Earning per share = (Earnings after tax) ÷ (Number of shares outstanding)

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We simply divide the earning after tax by the outstanding share so that the approximate earning per share can come

4 0
3 years ago
A contract tells an organization how it must act and the consequences for failing to act properly.
s344n2d4d5 [400]
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Explanation:

It is true that a contract is an agreement which is stating rules and regulation and also the consequences which the company has to face if the rules are violated.

A contract,

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  • contains rules
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