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Lelu [443]
3 years ago
10

Erica decides to spend $50 on a ticket to a concert with friends instead of buying a new pair of jeans. What is the opportunity

cost other decision?
A. the benefit of having a new pair of jeans
B. the benefit of going out with her friends
C. the $50 Erica spent on the ticket
D. the enjoyment of going to the concert
Business
2 answers:
Ganezh [65]3 years ago
4 0

Answer:

The benefit of having a new pair of jeans

Explanation:

sammy [17]3 years ago
4 0

Answer:

The benefit of having a new pair of jeans

Explanation:

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Ruth gives Seth a computer as a gift. Using the computer, Seth develops a new game, for which he obtains intellectual property p
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Answer:

production

Explanation:

Based on the information provided within the question it can be said that Seth's acquisition of the game is by production. This is the process of completely creating from scratch the idea that leads to the product. Which is what Seth did since he developed the game from zero. Using the computer that was gifted to him as a tool.

8 0
3 years ago
Speechmaking is a form of power and therefore carries with it heavy ________ responsibilities.
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Speechmaking is a form of power and therefore carries with it heavy ethical responsibilities.</span>. Some of the guidelines for ethical speechmaking are: the gals of the speech should sound ethically Sound, the speaker should be f<span>ully prepared for each speech and be honest in what he/she says. 
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8 0
3 years ago
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year, the company reports th
RUDIKE [14]

Answer:

The income statement, statement of stockholders' equity, and balance sheet for Longhorn Corporation is given below.

<u><em>The income statement</em></u>

Sales Revenue                   $ 67,700

COGS                                 ($ 53,400)

Delivery expenses              ($ 2,600)

Salary expenses                 ($ 5,500)

Net profit                             $ 6,200

<u><em></em></u>

<u><em>Balance Sheet</em></u>

Asset

Cash                                  $ 1,200

Equipment                        $ 29,000

Building                             $ 40,000

Supplies                             $ 3,400

Total Assets                      $ 73,600

Equity

Common Stock                $ 44,000

Retain earning                  $ 24,400

(18,200 + 6,200)

Liability

Account Payable              $ 4,400

Salaries payable                $ 8,00

Total Liabilities                 $ 73,600

<u><em>Statement of Stockholders</em></u>

Opening common Stock           $ 40,000

Addition                                       $  4,000

Closing common Stock              $  44,000

Retain earning Opening            $ 18,200

Net profit                                     $ 6,200

Retain profit Closing                   $ 24,400

Total Equity                                 $ 68,400

4 0
3 years ago
Peter's Pencils is a perfectly competitive company producing pencils. Suppose Peter is producing 1,000 pencils an hour. If the t
kramer

Answer:

Peter is maximizing his profit and is making an economic profit.

Explanation:

Peter's Pencils is a pencil producing firm in a perfectly competitive firm.

It produces 1,000 pencils an hour.

The total cost of producing 1,000 pencils is $500.

The market price of each pencil is $2.

The marginal cost of producing the last unit of a pencil at this point is $2.  

An individual firm in a perfectly competitive market faces a horizontal line demand curve which also represents the average revenue and marginal revenue.

This means that the marginal revenue earned from the 1,000th pencil is $2.  

The marginal revenue is equal to marginal cost, this implies that the firm is maximizing profits.

The average total cost of the firm is  

= \frac{TC}{Q}

= \frac{500}{1,000}

= $0.5

The average total cost is $0.5 which is lower than the price. This means that the firm is earning economic profits.

6 0
3 years ago
Anna is willing to spend $500 for the bike she wants. if she finds a bike store where the price of the bike she wants is only $4
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The answer is $100. The consumer surplus is $100 because that is the difference between what Anna has set as her ceiling for the purchase of the bicycle, $500, and then subtracted by the amount that she actually does pay, $400, that difference is what is referred to as consumer surplus. What the consumer is mentally committed to paying minus what the consumer actually pays.
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3 years ago
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