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NNADVOKAT [17]
2 years ago
8

Consider two neighboring island countries called Euphoria and Contente. They each have 4 million labor hours available per week

that they can use to produce corn, jeans, or a combination of both. The following table shows the amount of corn or jeans that can be produced using 1 hour of labor.
Country Corn (Bushels per hour of labor) Jeans (Pairs per hour of labor)
Euphoria 4 16
Contente 6 12

Initially, suppose Contente uses 1 million hours of labor per week to produce jeans and 3 million hours per week to produce corn, while Euphoria uses 3 million hours of labor per week to produce jeans and 1 million hours per week to produce corn. Consequently, Euphoria produces 12 million pairs of jeans and 16 million bushels of corn, and Contente produces 6 million pairs of jeans and 36 million bushels of corn. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of jeans and corn it produces.

Euphoria's opportunity cost of producing 1 bushel of corn is___________ pair of jeans, and Contente's opportunity cost of producing 1 bushel of corn is__________ pair of jeans. Therefore,___________ has a comparative advantage in the production of corn, and__________ has a comparative advantage in the production of jeans.
Business
1 answer:
Levart [38]2 years ago
4 0

Answer:

4

2

Contente

Euphoria

Explanation:

Euphoria's opportunity cost of producing 1 bushel of corn is \frac{16}{4} = 4 pair of jeans, and Contente's opportunity cost of producing 1 bushel of corn is \frac{12}{6} = 2 pair of jeans. Therefore,  Contente has a comparative advantage in the production of corn, and Euphoria  has a comparative advantage in the production of jeans.

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Mallory Furniture buys two products for resale: big shelves (B) and medium shelves (M). Each big shelf costs $500 and requires 1
Ghella [55]

Answer:

The answer is D

Explanation:

Solution:

Recall that:

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Storage space = 90 cubic feet,

Now,

Since the values 100 and  90 is greater than 18000 cubic feet available for storage, what is required would be 100 big shelves and 100 medium shelves

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3 years ago
Partners Dennis and Lilly have decided to liquidate their business. The following information is available:
fgiga [73]

Answer:

Partners Dennis and Lilly have decided to liquidate their business. The following information is available:

Cash $100,000 Accounts Payable $100,000

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Lilly, Capital $80,000

$300,000 $300,000

Dennis and Lilly share profits and losses in a 3:2 ratio. During the first month of liquidation, half the inventory is sold for $60,000, and $60,000 of the accounts payable is paid. During the second month, the rest of the inventory is sold for $45,000, and the remaining accounts payable are paid. Cash is distributed at the end of each month, and the liquidation is completed at the end of the second month.

1. Using a safe payments schedule, how much cash will be distributed to Dennis at the end of the first month?

a. $36,000

b. $64,000

c. $60,000

d. $24,000

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3 years ago
1. How do customers judge the quality of a supermarket? 2. Indicate how and why each of these factors is important to the succes
kirza4 [7]

Answer:

1. How do customers judge the quality of a supermarket?

They judge the quality of a supermarket depending on their values and most urgent needs.

Customers who value quality, and even luxury, will say that a good supermarket is one that offers high quality products.

Customers who value price, will prefer a low-cost supermarket.

2. Indicate how and why each of these factors is important to the successful operation of a supermarket:

a. Customer satisfaction - a very important factor because it determines how well the supermarket is serving its customers.

b. Forecasting - the supermarket needs to forecast all sorts of things, from, sales forecasts, to profit forescasts, to costs forecasts.

c. Capacity planning - the supermarket needs to know what it is actually able to do, and what projects it can embark on, for this, it needs to do a lot of capacity planning.

d. Location - Location is extremely important for a supermarket. It determines a large part of the customer demand because customers prefer supermarkets to be close to where they live.

e. Inventory management - Supermarkets need to manage inventories carefully, specially because a lot of the goods that a supermarket sells, are perishables.

f. Layout of the store - The Supermakert needs to be careful when determining the layout of the store. Customers want a layout that is easy to navigate, and where goods are placed according to a coherent classification.

g. Scheduling - The supermarket needs to establish a convenient schedule for its customer base.

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3 years ago
A company's direction, objectives, and strategy Group of answer choices are set in stone as the end of the planning process. nev
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Answer:

are never final, as managing strategy is an on-going, dynamic process.

Explanation:

In Business management, a strategy can be defined as a set of guiding principles, actions and decisions that an organization combines so as to achieve its business goals, attract customers and possess a competitive advantage over its rivals in the industry.

Business strategy sets the overall direction for the business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan. The components of a business strategy includes the following;

I. Value.

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III. Mission.

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