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2 years ago

Explain the opportunity cost of working on a farm.

Business

1 answer:

Liula [17]2 years ago

8 0

Answer:

Opportunity cost is a useful concept when considering alternative places for using your resources and assets. ... If he/she farms the land, the opportunity cost is the income foregone by not renting it to a neighbor.

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Step Up Ladders Company provides the following financial information: Income from operations $400,000 Interest expense 47,000

gayaneshka [121]

Answer:

13.33%

Explanation:

Income from operations $400,000

Interest expense 47,000

Gains/(losses) on sale of equipment 3,000

Net income 350,000

Total assets at Jan. 1 2,600,000 Total assets at Dec .31 3,400,000

the formula used to calculate return on investment (ROI) is:

ROI = income from operations / average total assets

ROI = $400,000 / {($2,600,000 + $3,400,000) / 2} = $400,000 / $3,000,000 = 0.1333 or 13.33%

Return on investment measures the profitability of an investment during a period of time.

4 0

3 years ago

Marigold Corp. incurred the following costs for 52000 units: Variable costs $312000 Fixed costs 392000 Marigold has received a s

Nuetrik [128]

Answer:

The unit price is $9.2 per unit

Explanation:

The computation of the unit price is shown below

Variable costs for 2,000 units is

= Variable cost ÷ units × special order units

= $312,000 ÷ 52,000 units × 2,000 units

= $12,000

Now the unit price is

= (variable cost + shipping charges + earnings) ÷ special order units

= ($12,000 + $2,400 + $4,000) ÷ (2,000 units)

= $9.2 per unit

Hence, the unit price is $9.2 per unit

The same is to be considered

6 0

3 years ago

A CFO is looking at the end-of-year financial statements. His goal is to identify the store that performed the best over the pas

beks73 [17]

Answer:

All accounting process are important.

Explanation:

All the recording of facts are important because the recording of facts enables the company to look the company with a financial perspective. In this scenario the accounting system can be used to see which store has generated more than the rest of the stores and will help CFO to reward the staff and use their tactics to implement in the other stores to increase the efficiencies of other stores.

7 0

3 years ago

_____ refers to the actions of consumers directly involved in obtaining, consuming, and disposing of products, and the decision

Rashid [163]

Answer:

Consumer behavior

Explanation:

It is the decision process in which consumers evaluate, select, acquire, use and dispose goods and services to satisfy their needs and wants. It covers what they buy, why, when, how, where and how often. Consumer behavior involves mental, emotional and physical activities.

3 0

3 years ago

The monopoly maximizes profit by setting a. price equal to marginal revenue. b. marginal revenue equal to marginal cost. c. pric

Ksenya-84 [330]

(C) price equal to marginal cost.

Monopoly is a market condition with only one seller of a product where there is barriers to entry of others and presence of no substitutes.

The level of profit is maximised in a monopoly when the marginal cost equal the marginal revenue. They choose an output and price certainly without exceeding the marginal revenue. The price is greater than average revenue of the production and get the profit maximise output.

In case monopoly quantity will be lower and the price will be higher than that of a competitive firm. Marginal revenue can only be zero when the production falls or not have been started yet.

To learn more about monopoly here,

brainly.com/question/5992626

#SPJ4

3 0

2 years ago

Explain the opportunity cost of working on a farm. ​

Explain the opportunity cost of working on a farm.