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Answer:
Explanation:
At some colleges and universities, economics professors receive higher salaries than professors in some other fields.
A. Why might this be true?
Economists have a higher opportunity cost working in academia than professors in other fields because in certain fields that are different from academic,there is a lack of labor opportunity for professor and even when such arise ,they are difficult to get and another reason may be that economists who are good in some fields may employ themselves in other firms with higher wages because of their real life first hand experience, even when some colleges and universities wants to hire them, got to spend a greater amount of money than for professors in some other fields.
B. Some other colleges and universities have a policy of paying equal salaries to professors in all fields. At some of these schools, economics professors have lighter teaching loads than professors in some other fields. What role do the differences in teaching loads play
In order for university to employ working force which is hard to find, they put in place differences in teaching loads ,such differences in teaching load are intended to attract economics professors by providing nonmetary compensation
Answer:
The special order should be : Accepted
Explanation:
<u>Analysis of whether or not to accept special order</u>
Revenues (3,000 x $25) $75,000
Less Variable expenses :
Costs - Manufacturing (3,000 x $20) ($60,000)
Shipping (3,000 x $3) ($9,000)
Net Income $6,000
Conclusion :
Since Net Income has increased by $6,000 as a result of special order, it should be accepted
Answer:
Natural monopoly
Explanation:
A natural monopoly refers to a type of monopoly that occurs when the start-up costs or infrastructural costs are high or economies of scale in an industry are very powerful in such a way that only the largest supplier in the industry which is usually the first supplier in the market has a great advantage over potential competitors and therefore becomes the only supplier in the industry.
On the long-run average cost (LRAC) curve, a natural monopoly exists when the quantity demanded is less than the minimum quantity that is required to be at the bottom of the LRAC curve.
Therefore, a <u>natural monopoly</u> exists when the quantity demanded in the market is less than the quantity at the bottom of the long-run average cost curve.
Best practice Performance Based Logistics contracts often use some combination of "carrots and sticks" strategies that are tightly aligned, promoting behaviors and outcomes that benefit both customer and supplier -- -True
What are performance based logistics contracts?
Performance-Based Logistics (PBL) contracts provide services or sup- port where the provider is held to customer-oriented performance requirements. These contracts are not necessarily designed to save money, but rather to maintain or improve current system or platform performance in a cost constrained world.
How long are PBL contracts?
3 to 5 years
Effective PBL contracts are typically multi-year contracts (i.e., 3 to 5 years with additional option or award term years), with high confidence level for exercising options/award term years.
What is a product support arrangement?
The term “product support arrangement” means a contract, task order, or any type of other contractual arrangement, or any type of agreement or non-contractual arrangement within the Federal Government, for the performance of sustain ment or logistics support required for major weapon systems, subsystems, or components ...
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