Neoclassical economics focuses on providing more options while Behavioral economics focuses on helping people make better decisions with the options available.
A psychological approach to business, behavioral economics looks at how well people's expectations of utility and profit maximization match their actions and if they actually maximize predicted utility.
Contrarily, neoclassical economics views manufacturing costs as a key determinant of pricing a product. Thus, neoclassical economists contend that customers' primary determinant of choice is price.
Hence, the two have different beliefs about giving people options. While behavioral economics focuses on assisting people in making better decisions with the options at hand, neoclassical economics places greater emphasis on offering more options.
Want to know how would keynesian and neoclassical economics propose dealing with cyclical unemployment? Read here: brainly.com/question/28213854
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Answer:
Equivalent units of production= 68,000 units
Explanation:
Giving the following information:
Units started and completed= 80,000 - 20,000= 60,000
Units in ending inventory= 20,000 nits that were 40% complete in the ending work in process inventory at the end of January.
<u>To calculate the equivalent units for conversion costs, we need to use the following formula:</u>
Units completed in the period + Equivalent units in ending inventory WIP (units*%completion) = Equivalent units of production
Equivalent units of production= 60,000 + (20,000*0.4)
Equivalent units of production= 68,000 units
Answer:
The correct answer is A. A process cost accounting system is appropriate for similar products that are continuously mass produced.
Explanation:
The system of costs by processes is that by which the production costs are charged to the processes, to the accumulated systems of the production costs, by department or by cost center.
This cost system is ideal for companies such as assembly departments. Even in the financial institution where I worked, the process cost system was also used as a method of calculation and cost allocation.
Answer:
Sin taxes are typically added to liquor, cigarettes, and goods that are considered morally hazardous. Because they generate enormous revenue, state governments favor sin taxes. ... The sin tax seeks to reduce or eliminate consumption of harmful products by making them more expensive to obtain
Explanation:
Answer: A Semantic Differential Scale question.
A rating scale question is a type of a closed-end question in which the person who takes the survey assess the question on a given scale.
A rating scale may be a Likert scale or a Semantic differential scale.
In a Likert scale the choices usually range between strongly agree and strongly disagree.
In a semantic differential scale, however, each end of the scale has opposing sentences. In the question above, the five-point scale ranges from “hilarious” to “not funny”. Since this scale has opposing sentences at each end, this question is a semantic differential scale question.
