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Brrunno [24]
3 years ago
11

Paolo is an owner of a professional sports team in a large league. To promote fairness, the team with the most losses in the lea

gue automatically gets the best new player to enter the league next year. Consider the following sentence: In order to get the best new player next year, Paolo orders his team to intentionally lose as many games as possible. Which basic concept of individual choice does this sentence best illustrate? Externalities are a shortcoming of the market. An optimal decision is one that best serves the objectives of the decision maker. All costs are opportunity costs. Opportunity costs and money costs (price) are related, but not always exactly the same.
Business
1 answer:
butalik [34]3 years ago
8 0

Answer and Explanation:

According to the given situation, Paola would be rational decision maker and if the team suffered losses so in the next league they would get the best new players so he ordered his team to lose many teams as he is aware of the fact that the opportunity cost of game losing would be closet to zero

So the second option is correct

You might be interested in
should i agree or diagree with You should not have to work with people who cannot make themselves understood.
kogti [31]
Agree because you do not have to do anything, it’s your choice to work with them or not.
4 0
3 years ago
The proposals submitted to the customer should:
Ludmilka [50]

Answer:

The proposals submitted to the customer should:

D. be reviewed by a team and evaluated on predefined evaluation criteria.

Explanation:

In business, a proposal is a business application from one entity to another, soliciting for a contract based on an understanding of the customer's problems and requirements.

There many sections, including objectives, recommended solution, estimated project schedule, company's background information, fee summary, and other important terms and conditions.

Given the above sections, it becomes necessary for a team to evaluate proposals before they are submitted to customers.  Teamwork will help modifications to be made based on each customers requirements.

6 0
3 years ago
If someone produced too little of a good, this would suggest that rational choice cannot be applied to many economic decisions.
juin [17]
If someone produced too little of a good, this would suggest that the good was produced to the point where its marginal benefit exceeded its marginal cost.
Both are metrics used in economics for measurement of costs and benefits.
Marginal benefit is the gain the business receives for doing anything "one more time.", while marginal cost is the additional cost the business incurs to produce one more unit.
This means that if someone produced too little of a good, the business gained more than it lost.
8 0
4 years ago
Suppose the production of solar powered lawn mowers is characterized by the production function Q = LE, where Q represents the n
RoseWind [281]

Answer:

110 labor and 1100 energy

Cost of 2,200 dollars

Explanation:

Q = L x E

Cost = 10 L + E

We use Excel solver tool to get this

    A            B               C      

1                Labor Energy  

2 Quantity     110          1100

3 Cost             10               1

4 output    121,000  (B2 * C2)

5 cost           2,200 (B2*B3 + C2*C3)

we want to minimize B5 (cost)

changing the quantities (b2:c2)

with the constrain that output b4= 121,000

7 0
4 years ago
A total of 700 tickets were sold for a game for a total of $3420. If adult tickets sold for $7 each and child tickets cost $3 ea
nikitadnepr [17]

Answer:

330 tickets sold to adults

370 tickets sold to children

Explanation:

Suppose:

Number of Tickets

Adult = A

Child = C

According to given condition

A + C = 700 (Eq 1)

7A + 3C = 3,420 (Eq 2)

By multiplying (Eq 1) with 3 we get

3A + 3C = 2,100 (Eq 3)

By subtracting (Eq 3) from (Eq 1)

7A + 3C - (3A + 3C) = 3,420 - 2100

7A - 3A + 3C -3C = 1320

4A = 1320

A = 1320/4

A = 330

Putting value of A in (Eq 1)

330 + C = 700

C = 700 - 330

C = 370

Check:

(7x330) + ( 3x370) = 3420

2310 + 1110 = 3420

3420 = 3420

5 0
3 years ago
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