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frutty [35]
2 years ago
14

Juanita makes $30 an hour at work. She has to take time off work to purchase her suit, so each hour away from work costs her $30

in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling.
Assume that it takes 15 minutes to travel to the local department store, 30 minutes to travel to the store across town, and 60 minutes to travel to the store in the neighboring city.

Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location.

Store Opportunity Cost of Time (Dollars) Price of a Suit (Dollars per suit) Total Cost (Dollars)
Local Department Store ___________________ 114 _________
Across Town ___________________ 86 _________
Neighboring City ____________________ 60 _________
Business
1 answer:
vazorg [7]2 years ago
5 0

Answer:

Across Town

Explanation:

Missing word <em>"Assume that Juanita takes opportunity costs and the price of the suit into considerate when she shops. Juanita will minimize the cost of the suit if she buys it from the </em><em><u>               </u></em><em>"</em>

<em />

<u>Local Department Store</u>

15 min + 15 min + 30 min = 1 hour

Opportunity cost of time = 1 hour * $30 = $30

Total cost = $30 + $114 = $144

<u>Across Town</u>

30 min + 30 min + 30 min = 1.5 hours

Opportunity cost of time = 1.5 hours*$30 = $45

Total cost = $45 + $66 = $131

<u>Neighboring City</u>

6 min + 60 min + 30 min = 2.5 hours

Opportunity cost of time = 2.5 hours*$30 = $75

Total cost = $75 + $60 = $135

Assume that Juanita takes opportunity costs and the price of the suit into considerate when she shops. Juanita will minimize the cost of the suit if she buys it from the <u>Across Town</u>.

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Answer:

The Relevant Cost for Five Years     $52,000.00

Explanation:

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The Park Ridge Company's Relevant Old Machine Cost for Five Years is

Disposal value now                      $32,000.00  

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Old Machine

Original cost $200,000 is <em>Sunk Cost</em>

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4 0
2 years ago
scenarios as examples of elastic, inelastic, or unit elastic demand. When Ruko, a device used to stream movies at home, increase
kenny6666 [7]

Answer:

Elastic demand

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Inelastic demand

Explanation:

Elasticity of demand measures the degree of responsiveness of quantity demanded to changes in price.

Elasticity of demand = percentage change in quantity demanded/ percentage change in price.

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If price is increased, the quantity demanded falls and as a result the total revenue earned by sellers falls.

The elasticity of demand is usually greater than 1 when demand is elastic.

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I hope my answer helps you

3 0
3 years ago
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Bogdan [553]

Answer:

In today’s digital market space consumers and businesses interact, sell, and buy beyond their local borders. With greater access to foreign markets, many U.S companies are looking to expand overseas and to sell internationally.

Global retail sales, including both in-store and online purchases, surpassed $22 trillion in 2014, according to recent figures from eMarketer. The marketing research firm also predicts a 5.5 % increase in overall international retail sales to $28.3 trillion by 2018.

Explanation:

hope <em>it </em><em>helps</em>

7 0
2 years ago
Few restaurant management students opt for ____________________management, believing it lacks the variety, glamour and opportuni
sammy [17]

Answer: Quick service

Explanation:

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4 0
2 years ago
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Travka [436]

Answer:

$1,960

Explanation:

Complete Questin:

Fosnight Enterprises prepared the following sales budget:

Month Budgeted Sales

March $6,000

April $13,000

May $12,000

June $14,000

The expected gross profit rate is 30% and the inventory at the end of February was $10,000. Desired inventory levels at the end of the month are 20% of the next month's cost of goods sold. What is the desired beginning inventory on June 1?

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= 9,800 (CGS) × 20%

= $1,960

8 0
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