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3 years ago

1. Explain the concept of opportunity cost with an appropriate example.

Business

1 answer:

inn [45]3 years ago

4 0

Answer:

Concept & example of Opportunity Cost

Explanation:

Opportunity Cost is the cost of next best alternative foregone, while choosing an alternative. This arises because of 'choice' problem, due to unlimited wants & limited resources - having alternative uses.

Eg : If I can have 2 chapatis or a bowl of rice. And, I eat a bowl of rice. Then, 'opportunity cost' of a rice bowl is - the next best available '2 chapattis' foregone for the former.

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The purchase of established firms abroad with the goal of using the existing production, marketing, and distribution networks an

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Foreign acquisition

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3 years ago

True or false

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3 years ago

The LIFO cost flow assumption results in the most (distant/recent) costs being transferred to cost of goods sold. In times of ri

asambeis [7]

Answer:

RECENT
HIGHER

Explanation:

Last-in, first-out (LIFO) means that the most recent costs are going to be used to determine the cost of goods sold. The LIFO method is very useful when the prices of your inputs or merchandise are continuously rising, for example if inflation rate increased. LIFO method is better for determining replacement costs when prices are increasing.

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3 years ago

Dave's Mirror Company produces $1,250,000 worth of mirrors this year. They expect to sell $1,000,000 worth of mirrors over the y

Georgia [21]

Answer:

$650,0000, $550,000

Explanation:

Actual investment is planned investment plus unplanned investment.

Planned investment = planned production minus expected sales, or $1,250,000 - $1,000,000 = $250,000

$250,000+ purchase of new equipment ($300,000) = $550,000.

Expected sales -Sales for the year

$1,000,000 - $900,000 = $100,000

$$550,000+$100,000=$650,000

Therefore Actual investment by Dave's Mirror Company equals $650,000 and planned investment equals $550,000

3 0

3 years ago

Read 2 more answers

Which of the following considerations can sometimes override consequences when comparing and weighing alternatives for ethical d

adelina 88 [10]

Answer:

The correct answer is B

Explanation:

Principle is the term which is defined as the scientific law or theorem which has various special applications.

And sometimes matters of duties, principles or rights could countermand or override the consequences when weighing and comparing the alternatives related to the ethical decisions making.

For example, how an employee weighs and compares the alternatives for the ethical decision making might ground or depend on the duties or responsibilities linked with the position of the employee in the company.

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3 years ago

1. Explain the concept of opportunity cost with an appropriate example.​

1. Explain the concept of opportunity cost with an appropriate example.