Answer:
Framing effects.
Explanation:
Framing effect in psychology is the cognitive bias whereby an individual makes decisions based more on the information presented than on one's own choice. In other words, when someone makes a decision that is influenced more by the effects of the information on others than on one's own opinions.
In the given scenario, Josh's decision to have tiramisu only when others are having dessert and not if he would be the only one having dessert is affected by the framing effect. This is because his decision is influenced by the way others behave rather than his desire to eat even his favorite dessert.
Thus, the correct answer is the framing effect.
Answer:
Decrease in equilibrium quantity
Increase in equilibrium price.
Explanation:
Because the demand is downward sloping, an increase in price will lead to decrease in quantity demanded and vice-versa.
Here, there is a decrease in supply with no change to demand, this will lead to scarcity of the product and very soon scarcity will drive the price of the product high and because the demand is downward sloping, quantity demanded will drop
So the situation in the question above will lead to a decrease in equilibrium quantity and an increase in equilibrium price.
Answer:
Shawnee Motors Inc.
Income Statement
For the month ended August 31, 202x
Sales revenue $1,000,000
- COGS <u> ($696,000)</u>
Gross profit $304,000
S&A expenses:
- Variable S&A expenses $140,200
- Fixed S&A expenses $54,300 <u>($194,500)</u>
Operating profit $109,500
Explanation:
Sales (10,000 units) $1,000,000
Production costs (13,000 units):
- Direct materials $481,000
- Direct labor $231,400
- Variable factory overhead $115,700
- Fixed factory overhead $76,700
- Total production costs $904,800
Selling and administrative expenses:
- Variable selling and administrative expenses $140,200
- Fixed selling and administrative expenses $54,300
- Total S&A expenses $194,500
COGS = (10,000 / 13,000) x $904,800 = $696,000
Answer:
See notes below
Explanation:
The decision Variables includes the following are the quantities of lite beer and dark beer to be produced.
Quantity of lite =x
Quantity of Dark =y
The objective is to MaxiMize total profit.
let total total be z
MaxiMize z =3x + 2y
The two constraints are
Production tiMe: 2x + 4y ≤ 480
Malt : 5x + 4y ≤ 675