Answer:
a. $700,000
86%
c. No
Explanation:
a. Jacobs will earn $700,000 per year. This equals the normal salary for a designer, $100,000, plus the economic rent he collects for his special talent, $600,000.
6/7 or 0.857 or 86% of his salary is thus economic rent. This is found by 600,000/700,000
b. The answer is No. If Jacobs’s employer withholds some of the additional revenue it takes in as a result of hiring him, some other advertising company will offer him a higher salary and still manage to earn an economic profit. Bidding for Jacobs will continue until firms are indifferent between paying him $600,000 and hiring any other designer for $100,000.
Answer:
No
Explanation:
Since in the question there is a situation given in which there is a telephonic conversation and later onwards the jewelry maker refused to accept the goods delivery or pay $65,000 as per the company
So this represents that there is no enforceable contract lies between the company and the jewelry maker as the agreement is not in writing so it would not be considered as a valid contract
hence, the answer is no
Team dynamic theories are now being utilized to determine
team performance because it evaluates how well the team members interact with
each other. How they coordinate and
exchange ideas with each other are determinants that measure their potential as
a team.
Answer:
units started less 200.
Explanation:
Unit at which the process is started on the beginning of January minus the closing inventory is the number of completed units in work in process when there is No beginning Work in process.
Using following formula we will calculate the Units completed in WIP.
Work in process Closing Inventory = Opening WIP + Addition during the period - Completion during the period
200 units = $0 + Addition during the period - Completion during the period
Completion during the period = Addition during the period - $200 units
In the absence of Beginning Inventory the the addition during the period is the number of unit at which the process is started.
Answer:
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Explanation:
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