Answer: The value customer relationship over short term profits.
Explanation:
The home repairs men and building supply businesses place a high value on their relationship with customers and therefore try to support them in their period of challenge even if it comes at a cost of losing out on making a higher profit.
If the price of labor falls, the supply of goods rises and the prices of those goods fall.
If labor costs go down, it will cost less for a business to make products so they will make more and supply will go up. When supply goes up, prices tend to fall.
The interest expense for the year ended December 31, 2021, for Blanchard Corporation is b) $9,000.
<h3>How is interest expense computed?</h3>
Interest expense is prorated. Since Blanchard Corporation issued the notes on April 30, the interest expense for the year will not be for 12 months but only 8 months (May to December).
<h3>Data and Calculations:</h3>
Note payable = $150,000
Interest rate = 9%
Period of note = 1 year
Date of issuance = April 30, 2020
Interest expense at December 31, 2021 = $9,000 ($150,000 x 9% x 8/12)
Thus, the interest expense for the year ended December 31, 2021 is b) $9,000.
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Answer:
Similarities between Free Market Economy and Command Economy
Both economies have similar economic players including consumers and producers, services and goods and money and labor.
Answer:
Your opportunity cost of attending a game compared with the opportunity cost facing a college student 10 years ago is:
A) higher, because more games are televised today.
Opportunity costs are the cost of choosing one alternative from another.
In this case, when college students attend college football games they are unable to do other activities, not only while they are at the stadium or going to the stadium, but they are not able to purchase other goods. The cost of those alternatives that are lost are higher now because many college football games are televised now, before if you wanted to see a game you had to go to the game. So a student is now able to watch the game while doing other activities, or saving money for buying something else.
Can this change in opportunity cost account for the decline in college football attendance?
B) Yes, because these changes increase the opportunity cost of watching football games in person.
Even though opportunity costs do not involve actual cash payments, they are still important and individuals do consider them when they are choose one option over another. E.g. imagine if you had to choose between spending a considerable amount of money by attending a game (ticket, gas, beverages, etc.) or watching that game on TV and buying a few clothes instead or going on a date, etc. What option would you choose?
