when you love your job, the opportunity cost of working is _____ the opportunity cost if you dislike your job.

A competitive firm has been selling its output for $20 per unit and has been maximizing its profit, which is positive. Then, the

andriy [413]

Answer:

The correct answer is option c.

Explanation:

A competitive firm has been selling its output for $20 per unit and has been maximizing its profit, which is positive.

The price falls to $18, and the firm makes whatever adjustments are necessary to maximize its profit at the lower price.

A competitive firm will produce at the point where the marginal cost is equal to price. When the price is lowered the firm will produce at a point with lower marginal cost.

It will thus produce lesser output than what it was producing earlier. So the quantity of output will be lower than previously.

7 0

3 years ago

A market research company employs a large number of typists to enter data into a computer database. The time it takes for potent

monitta

Answer:

4.75% of the candidates takes more than two hours to learn the computer system.

Explanation:

The relevant information to solve the problem is:

1. The time it takes to learn follows a Normal distribution

2. The mean is 90 minutes

3. The standard deviation is 18 minutes

4. The question is What proportion of candidates takes more than two hours to learn the computer system?

Then, you shall calculate the Z-score and use a standard distribution table to look up the Z-score and the corresponding probability.

Repeating myself from a recent answer, "there are two types of standard distribution tables: tables that show values that represent the AREA to the LEFT of the Z-score, and tables that show values that represent the AREA to the RIGHT of the Z-score".

1. First, calculate the Z-score:

$Z-score=\frac{x-mean}{standard\text{ }deviation}$

$x=2hours=120min$

$Z-score=\frac{120-90}{18}\approx 1.67$

2. Use the table that represents the area to the right of the mean to find the ratio of typists that have a Z-score greater than 1.67.

$Probability=0.0475=4.75\%$

Therefore, 4.75% of the candidates takes more than two hours to learn the computer system.

4 0

3 years ago

Blythe Company has provided the following information: Sales price per unit $ 45 Variable cost per unit 18 Fixed costs per mont

NemiM [27]

Answer:

Break-even point (dollars)= $21,667

Explanation:

Giving the following information:

Blythe Company has provided the following information: Sales price per unit $ 45 Variable cost per unit 18 Fixed costs per month $13,000

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 13,000 / [(45 - 18)/45]= $21,667

6 0

3 years ago

The Giles Agency offers a 12% trade discount when providing advertising services of $1,000 or more to its customers. Audrey’s An

frozen [14]

Answer:

Please refer the journal entries below

Explanation:

Trade Discount:

There is no accounting entry for the trade discount, trade discount is simply deducted from the total amount and the entry is passed after incorporating the trade discount

1) Audrey’s Antiques

Since Audrey’s Antiques have taken the services amounting more than $1,000, they are eligible for the trade discount of 12% i.e. ( 12% of $1,900) = $228, hence Income will be recorded at ($1,900 - $228) = $ 1,672

Advertising Fee Receivable Debit $ 1,672

Advertising Fee Income Credit $ 1,672

2) Michael’s Motors

Since Michael’s Motors have taken the services amounting less than $1,000, they are not eligible for the trade discount of 12%

Advertising Fee Receivable Debit $ 540

Advertising Fee Income Credit $ 540

3 0

4 years ago

Which of the following is a disadvantage of being a high self-monitor?

joja [24]

The correct option is D. High self monitor individual are those who monitor their surrounding and change their behavior to fit in with their environment. Such people are usually lively in social gatherings, they fit in easily by changing their behavior, they can easily read people's mind and change their behavior to please them. One disadvantage that they have is that, they find it difficult to relax and live in the moment, thus they don't fully experience situations around them.

7 0

3 years ago