auppoae that you open your own business and earn an accounting profit of $40,000 oer year. when you started your business, you left a job that paid you a $25,000 salary annually
Answers
The economic profit of your business is $15,000 per year. This means that after considering the opportunity cost of leaving your job, your business generates an additional $15,000 in profit compared to what you would have earned in your previous job.
To calculate the economic profit, we need to consider both the accounting profit and the opportunity cost of the job you left.
Accounting profit is the difference between total revenue and explicit costs. In this case, the accounting profit is given as $40,000 per year.
Opportunity cost is the value of the next best alternative foregone. In this case, the opportunity cost is the salary you gave up when you left your job, which is $25,000 per year.
Economic profit is calculated by subtracting the opportunity cost from the accounting profit.
Economic profit = Accounting profit - Opportunity cost
Economic profit = $40,000 - $25,000
Economic profit = $15,000
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Related Questions
A small-scale contractor is looking to expand his construction fleet through two mutually exclusive alternatives: either a) the purchase of additional pick-up trucks or b) the purchase of an additional backhoe. The contractor has an MARR of 8% per year.
Answers
The contractor's minimum attractive rate of return (MARR) is 8% per year. The contractor is seeking to increase his construction fleet through the acquisition of additional pick-up trucks or an additional backhoe. The two mutually exclusive options are as follows: a) The purchase of additional pick-up trucks. b) The purchase of an additional backhoe.
The contractor should choose the alternative that has the higher present value. The acquisition of additional pick-up trucks has an initial outlay of $60,000, an annual revenue of $20,000, and an annual maintenance cost of $10,000. Its estimated useful life is five years, after which it can be sold for $10,000. The net present value (NPV) of the project can be calculated using the following formula: Net Present Value (NPV) = Σ [Rt / (1 + r)t] - C where Rt is the net cash flow in year t, r is the discount rate, and C is the initial investment.
The net cash flow for each year is as follows: Year 1: $20,000 - $10,000 = $10,000Year 2: $20,000 - $10,000 = $10,000Year 3: $20,000 - $10,000 = $10,000Year 4: $20,000 - $10,000 = $10,000Year 5: $20,000 - $10,000 + $10,000 = $20,000The present value of each cash flow is as follows: Year 1: $9,259Year 2: $8,566Year 3: $7,918Year 4: $7,312Year 5: $12,991The NPV of the acquisition of additional pick-up trucks is as follows: NPV = ($9,259 + $8,566 + $7,918 + $7,312 + $12,991) - $60,000NPV = $46,046The acquisition of an additional backhoe has an initial outlay of $200,000, an annual revenue of $100,000, and an annual maintenance cost of $40,000. Its estimated useful life is also five years, after which it can be sold for $60,000.The net cash flow for each year is as follows: Year 1: $100,000 - $40,000 = $60,000Year 2: $100,000 - $40,000 = $60,000Year 3: $100,000 - $40,000 = $60,000Year 4: $100,000 - $40,000 = $60,000Year 5: $100,000 - $40,000 + $60,000 = $120,000The present value of each cash flow is as follows: Year 1: $55,556Year 2: $51,282Year 3: $47,337Year 4: $43,695Year 5: $77,917The NPV of the acquisition of an additional backhoe is as follows: NPV = ($55,556 + $51,282 + $47,337 + $43,695 + $77,917) - $200,000NPV = $76,787Therefore, the contractor should acquire an additional backhoe as it has a higher NPV than the acquisition of additional pick-up trucks.
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Possibility A Economics History
I 94 76
II 87 84
III 77 91
A student has only a few hours to prepare for two different exams tomorrow morning. The above table shows alternative possible exam outcomes with three alternative uses of the student's time. The opportunity cost of scoring an 84 on the history exam rather than 76 is:
a) 10 points on the economics exam.
b) 7 points on the economics exam.
c) 8 points on the history exam.
d) 12 points on the economics exam.
Answers
The opportunity cost of scoring an 84 on the history exam rather than a 76 is 10 points on the economics exam. Option (a): 10 points on the economics exam is the correct answer.
Opportunity cost refers to the tradeoff or sacrifice that one makes for selecting one option over the other The cost of the next-best alternative. It is the value of the foregone opportunity. Therefore, in this case, opportunity cost means the highest-value alternative that is forgone. The given table shows alternative possible exam outcomes with three alternative uses of the student's time.
By analyzing the table, we can see that:
To score 84 on history, 8 hours must be spent, which means not studying economics To score 76 on history, 7 hours must be spent, which means 1 hour can be spent on economics To score 94 on economics, 8 hours must be spent, which means not studying history To score 87 on economics, 7 hours must be spent, which means 1 hour can be spent on history. To calculate the opportunity cost of scoring 84 on history rather than 76:
Opportunity Cost = Value of Best Alternative - Value of Option Taken The best alternative for scoring 84 on history is to spend 7 hours on history and 1 hour on economics, resulting in an economic score of 87, not 94. Thus, the opportunity cost of scoring an 84 on history rather than 76 is 10 points on the economics exam. Option (a) 10 points on the economics exam is the correct answer.
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A large bakery buys flour in 25 kg bags. The bakery uses an average of' 4,860 bags a year. Preparing an order and receiving a shipment of flour bags involves a cost of $10 per order. Annual holding cost is $5 per flour bag. a) Determine the economic order quantity.
b) What is the average number of bags on hand (i.e., in inventory)?
c) How many orders per year will there be?
d)Calculate the total annual cost of ordering and holding flour.
e)If ordering costs were to increase by 50 percent order, by what percentage would the EOQ change?
Answers
a) Economic Order Quantity(EQO):Economic Order Quantity can be calculated using the following formula. \(EOQ = \sqrt{\frac{2DS}{H}}\)Where D = Annual Demand in Units S = Ordering Cost per Order H = Annual Holding Cost per UnitThen EOQ will be: \(EOQ
= \sqrt{\frac{2*4,860*10}{5}}\)= \(\sqrt{19,440}\) = \(139.28\) (approx.)The economic order quantity is 139 bags.b) Average Number of Bags on Hand:To find out the average number of bags on hand, we can use the following formula: \(Average\ number\ of\ bags\ on\ hand = \frac{EOQ}{2}\)= \(\frac{139}{2}\) = \(69.5\) (approx.)The average number of bags on hand is 69.5 bags.c)
Number of Orders per Year:We can find the number of orders per year by using the following formula: \(Number\ of\ Orders\ per\ Year = \frac{D}{EOQ}\)= \(\frac{4,860}{139}\) = \(34.89\) (approx.)So, there will be 34 orders per year.d) Total Annual Cost of Ordering and Holding Flour:Total Annual Cost of Ordering and Holding Flour can be calculated using the following formula:
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what is current capital , future human capital and human capital ? is there a difference?
Answers
Answer:
it's money or dollarsand no there's no difference
excel provides _____ in categories such as financial management and budgets.
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Excel provides Expenses in categories such as financial management and budgets.
Excel is a Microsoft Office application designed to carry out variation functions, including financial analysis.
Microsoft Excel can be used in many ways. When it comes to finances, it can be used for budgeting or costing before a product or project is made, where each expense is categorized under a different heading.
Microsoft Excel can also carry out a valuation of expenses made, with each expense listed under different categories.
Hence, in this case, it is concluded that Microsoft Excel is a vital tool in financial management.
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Job satisfaction can be lost for all of the following reasons EXCEPT:
a.
Lack of opportunities for promotion
b.
Bickering with co-workers
c.
Being recognized for a job well done
d.
Having little or no say in decisions that affect you
Answers
Answer:
Being recognized for a job well done
Explanation:
In general, how do federal laws protect employee benefits?
Answers
Answer: They make sure employees get fair pay.
Explanation: Brainliest please
According to the environment industry organization for model cell 2 represents which of these environments
Answers
It should be noted that in the environment industry organization model, cell 2 simply means B. Complex stable environment.
The business or industry environment simply means the environment where an organization operates. It includes the customers, partners, suppliers, etc.
In the environment industry organization model, cell 2 simply means the complex stable environment.
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the government requires a developer to provide off-street parking for tenants. the developer will suffer a loss because instead of building additional units, he must now set aside space for the parking area. this is an example of: a. police powers b. inverse condemnation c. eminent domain d. escheat
Answers
The answer to your question is option a. police powers.
Police powers refer to the inherent authority of the government to regulate and control the use of private property to promote public welfare, health, and safety. In this case, the government requires the developer to provide off-street parking for tenants, which is a regulation aimed at promoting safety and reducing congestion on the streets. Although the developer may suffer a loss by setting aside space for the parking area instead of building additional units, this is a necessary exercise of police powers by the government.
To further elaborate, police powers are one of the fundamental powers of the government, which allow it to regulate the behavior and activities of individuals and businesses within its jurisdiction. These powers are derived from the Constitution and the common law and are essential to maintaining order, protecting public health and safety, and promoting the general welfare. In the context of land use regulation, police powers are often used by local governments to control the development of land and buildings in their communities. For example, zoning laws, building codes, and parking requirements are all exercises of police powers that seek to ensure that new development is compatible with the surrounding area and does not cause harm to public health or safety. In the case of off-street parking requirements, the government may require developers to provide a certain number of parking spaces for tenants or customers to reduce congestion on public streets and ensure the safe movement of vehicles. While this may impose additional costs on the developer, it is a legitimate exercise of police powers by the government to promote the public welfare.
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The school zone has posted speed limits of 25mph during school hours. Define Incentives, and provide an example of one negative incentive
and an example of one positive incentive that could be used to encourage motorists to obey the speed limit.
Answers
Answer:
To encourage someone to do something.
Explanation:
Incentives is defined as a thing that encourages someone to do something. One negative incentive is to charge a big fine on the motorists for the high speed in the school hours so that they obey the laws strictly while on the other hand, example of positive incentive is to give rewards or gifts or medals to those who obeys the law of speed limits in the school hours.
Rising prices for raw materials, the increasing availability of recycling facilities, and a move toward increased environmental sustainability have all diminished the importance of reverse channels.
a. True
b. False
Answers
Answer:
the answer would have to be a
i’m guessing the answer is A :)
i failed on edg course bc of yall
Answers
Read the graph below.
Unemployment Rates and Median Weekly Earnings, 2006
Unemployment Rate (percent)
Median Weekly Earnings (U.S. Dollars)
1.4% Doctoral Degree $1,441
1.1% Professional Degree S1,474
1.7%
Master's Degree $1,140
2.3% Bachelor's Degree S962
3.0% Associate Degree $721
3.9%
Some College
S674
4.3% High School Grad $595
6.8% Some High School S419
Source: U.S. Bureau of Labor Statistics, Current Population Survey
Which conclusion can be supported by the information in the graph above?
O People with a professional degree earn more than twice as much as people with a bachelor's degree.
O People with a master's degree earn nearly twice as much as those with a high school education.
O People with a doctoral degree are half as likely to be unemployed as people with a bachelor's degree.
O People with some college education are half as likely to be unemployed as people with some high school education.
Answers
Answer:
C. People with a doctoral degree are half as...
Explanation:
Answer:
People with a doctoral degree are half as likely to be unemployed as people with a bachelor's degree.
Explanation:
I'm smart also there is the same graph with same question and different answers so if your looking for that the correct answer is Obtaining a doctoral degree offers the lowest risk of unemployment and greatest potential weekly earnings.
what is the difference between policy owner and insured
Answers
.Which Scrum Value is affected by a lack of trust in the Scrum Team?
A. Focus
B. Respect
C. Openness
D. Courage
E. Commitment.
F. All of the above.
Answers
The Scrum Value that is most affected by a lack of trust in the Scrum Team is Commitment. Without trust, team members may not feel comfortable sharing their true thoughts or opinions, which can lead to incomplete or incorrect information being used in decision-making. The answer is E.
Additionally, team members may not feel confident in each other's abilities or willingness to complete tasks, which can lead to a lack of commitment to the overall project goals. This lack of commitment can result in delays, missed deadlines, and a failure to deliver a quality product.
Therefore, trust is essential in ensuring that all team members are fully committed to achieving the project goals and delivering value to the customer.
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If a firm or a nation desires to maximize its output, each productive assignment should be carried out by those persons who Group of answer choices have the highest opportunity cost. have a comparative advantage in the productive activity. can complete the productive activity most rapidly. least enjoy performing the productive activity.
Answers
Answer:
have a comparative advantage in the productive activity.
Explanation:
A person has comparative advantage in production if it produces at a lower opportunity cost when compared to other people. It means that the person is more efficient in the production of that good when compared with other people.
For example, farmer A produces 10kg of lettuce and 5kg of wheat. Country B produces 5kg of lettuce and 10kg of wheat.
for farmer A,
opportunity cost of producing lettuce = 5/10 = 0.5
opportunity cost of producing wheat = 10/5 = 2
for farmer B,
opportunity cost of producing lettuce = 5/10 = 0.5
opportunity cost of producing wheat = 10/5 = 2
Farmer A has a comparative advantage in the production of lettuce and farmer B has a comparative advantage in the production of wheat
Farmer A should produce lettuce and farmer B should produce wheat in order to maximise output
analyze the caremed’s make option in terms of • strategic considerations • supply risk considerations • economic considerations
Answers
Analyze the care med's make strategic considerations. If manufacturing is a fundamental capability for Care Med's business, that needs to be determined.
The fundamental strategic factors that should be taken into account as you develop a future strategy are products, services, clients, markets, money, personnel, technology, and production capacity. Arenas, Differentiators, Vehicles, Staging, and Economic Logic are the five components of strategy.
Researchers in strategy, Donald Hambrick and James Fredrickson, created this concept. A strategy explains how the means (resources) will be used to accomplish the ends (goals). Strategy can be predetermined or it can develop organically when an organization competes or changes its surroundings.
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For example, residents recycle not only because they care about the environment, but also because there is a strong financial incentive. Recycling is free, but throwing away garbage costs money: each garbage bag has to have a sticker on it, and each sticker costs at least 1 euro (approximately $1. 30 us); that is, the less you throw out, the less you pay. If you have no sticker, then your garbage is left outside your house to rot. What approach best describes what bern uses to encourage reuse and recycling?extensive use of materials-recovery facilitiessource separation approachsource separation approach and use of materials-recovery facilitiesfee-per-bag waste collection systemsuppose that all recycled glass in bern is also collected, reprocessed, and eventually used in reflective paint. This type of recycling helps take used glass and convert it into. This is yet another way that communities can help decrease the consumption of matter and energy resources
Answers
The approach that best describes what Bern uses to encourage reuse and recycling is the "fee-per-bag waste collection system." In this system, residents are incentivized to recycle and minimize their waste by imposing a cost for throwing away garbage. Each garbage bag requires a sticker, which costs at least 1 euro, creating a financial incentive to reduce waste. If residents do not have a sticker, their garbage is left outside. This approach encourages residents to recycle by making recycling free and imposing a cost for waste disposal.
Additionally, the statement mentions that all recycled glass in Bern is collected, reprocessed, and eventually used in reflective paint. This type of recycling, where used glass is converted into new products, helps decrease the consumption of matter and energy resources. It showcases the community's efforts to promote a circular economy and reduce waste by finding alternative uses for recycled materials.
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Should the government forgive existing loans?
Answers
Answer:
yes they should get smart dunmmy stop cheating
Explanation
I need to find the social security and Medicare. Please let me know how you got your answer as well!
Answers
Answer:
See below
Explanation:
Social security and medicare per period
1. Otto:
Pay per period = 76,432/ 12
=6,369.33
social security = 6.2% of 6,369.33
=6.2 /100 x 6,369.33
=394.898
=394.9
medicare = 1.45 % of 6,369.33
=1.45/100 x 6,369.33
=92.355
=92.36
2. G. Hernandez :
Pay per period= 43,902 / 26= 1,688.54
social security =6.2% of 1,688.54
=6.2/100 x 1,688.54
=104,689
=104.69
medicare=1.45 of 1,688.54
=1.45/100 x 1,688.54
=24.48
A.Toms:
Pay per period = 20,235 /12 =1,686.25
social security = 6.2 % of 1,686.25
=6.2/100 x 1,686.25
=104.55
Medicare = 1.45 % of 1,686.25
=1.45/100 x 1,686.25
=24.45
Five years ago, Sugar Ltd. raised $35 million by issuing 15 -year corporate bonds at $1,000 par value that carries a coupon rate of 8 percent payable semi-annually. Yield to maturity equals the coupon rate at issue. (a) Calculate the number of the 15-year coupon bonds that Sugar Ltd. issued to raise the $35 million five years ago. What will be the company's repayment be at the maturity date of the 15-year coupon bonds? (b) Last year, you purchased 200 corporate bonds of Sugar Ltd. at an effective rate of return of 12 percent. What was the bond price last year? (c) Based on your answer in part (b), you are forced to sell the bond today due to financial emergency. If the current yield to maturity falls by 1 percent, determine whether this corporate bond is sold at par, premium or discount. No calculation for current bond price is needed. [word limit: 40 words] (d) In general, bond market has a lower trading intensity than stock market. Due to a certain factor, the return on bond will be affected. Name and describe this factor that determines the required return on bond. [word limit: 40 words]
Answers
Sugar Ltd. issued 35,000 coupon bonds to raise $35 million five years ago. The repayment at the maturity date of the bonds will be $35 million.
The bond price last year was $1,666.67 per bond.
If the current yield to maturity falls by 1 percent, the corporate bond will be sold at a premium.
The factor that determines the required return on a bond is the risk of the bond, which includes credit risk, interest rate risk, and market conditions.
(a) To raise $35 million, Sugar Ltd. issued 35,000 coupon bonds ($35,000,000 / $1,000 = 35,000).
The repayment at the maturity date of the 15-year coupon bonds will be the par value of each bond, which is $1,000. Therefore, the total repayment will be $35 million.
(b) If you purchased 200 corporate bonds of Sugar Ltd. at an effective rate of return of 12 percent, the bond price last year can be calculated using the present value formula. The bond price would be the present value of the bond's future cash flows discounted at the effective rate of return.
(c) If the current yield to maturity falls by 1 percent, the bond's price will increase. Since the bond was purchased at an effective rate of return of 12 percent, a decrease in the yield to maturity indicates that the bond is sold at a premium.
(d) The factor that determines the required return on a bond is the risk associated with the bond. Credit risk, interest rate risk, and market conditions all contribute to the required return on a bond. Higher-risk bonds will require a higher yield to compensate investors for the additional risk they are taking.
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What can a boosted post help an advertiser achieve?
Answers
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
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You are responsible for submitting two current, business-ethics related objective news items (not analysis, commentary, or opinion pieces*) on completely different topics. The articles should:
have appeared in mainstream, reputable journalistic news outlets (see details below) within four weeks of the submission date
include ethically questionable behavior by for-profit businesses, not by non-profits or government agencies
discuss moral issues facing business people;
Do not use:
legal or government issues (e.g., lawsuits, regulatory, or university activities)
those facing specific professions that have their own specialized ethics fields (e.g., journalism, law, and medicine)
those whose issues are idiosyncratic(e.g., professional sports or utilities).
The articles must each be between 350 and 1000 words (you can paste the text into Word to check the count). The final cutoff time for submitting your articles to the instructor via this discussion board link is listed in the course schedule.
You are welcome to submit your stories early, or to submit them one at a time.
Include each story’s Title, Reporter, Publication, and URL in your submission.
NOTE: Your article must not be identical to a previous student's submission, and the same topic can only appear on the submission topic list twice. Be sure to check the submission document before investing time in finding your article, so that you know which topics are already taken. Students who submit early will have the greatest variety of topics available.
Your grade will be determined based on how closely your selected articles match the above requirements, along with the depth and interest level of the business ethics issues they raise. Take your time researching and selecting your submissions: each article accounts for 6% of your course grade.
*Commentaries will include the writer’s opinions, made clear by such clues as using first-person ("I") terminology or stating evaluations of whether the behaviors reported are good or bad. Your job is to find "straight" news stories that just report the facts.
Answers
For this task, you are required to submit two current, business-ethics related objective news items (not analysis, commentary, or opinion pieces) on completely different topics.
Your articles should have appeared in mainstream, reputable journalistic news outlets within four weeks of the submission date and should discuss moral issues facing business people. You are not to use legal or government issues, those facing specific professions that have their own specialized ethics fields, or those whose issues are idiosyncratic.
Your articles must each be between 350 and 1000 words, and you should include each story’s Title, Reporter, Publication, and URL in your submission. Your grade will be determined based on how closely your selected articles match the above requirements, along with the depth and interest level of the business ethics issues they raise.
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How might a small business owner use technology to improve business? Your response should be at least 150 words.
got impatient, so i did it myself, no need to answer
Answers
Technology can be used by small business owners to increase productivity, streamline procedures, and improve business operations.
Here are some examples of how technology can help a small business:
Online presence: Small businesses can reach a wider audience and build brand awareness by having a website and active social media accounts.
E-commerce: Small businesses can sell goods and services online using e-commerce platforms, which can help them grow their clientele and boost sales.
Cloud computing: By enabling small businesses to store and access data from any location, cloud-based services can boost productivity and teamwork.
CRM software: CRM software can assist small businesses in managing customer interactions, tracking sales, and enhancing customer satisfaction.
Accounting software: Accounting software can be used to manage finances, keep track of expenses, and produce financial reports for small businesses.
Software for inventory management: Small businesses can benefit from an inventory management software.
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In the _____ stage of the advertising development process, the Fallon team conducts research to determine whether or not consumer awareness of Arby’s range of protein offerings increased from pre-campaign levels.
Answers
Answer:
Evaluation Phase
Explanation:
It is at the evaluation stage of the advertising development process that the company will determine whether the campaign was effective.
What is the advertising assessment stage?It corresponds to the stage where consumers actually decide whether or not to make a purchase, so the marketing team is responsible for analyzing the effects of campaigns on sales.
Therefore, the evaluation phase is essential to determine the success of a campaign and its impact on consumers.
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Under a contractionary taxation policy, the government can reduce the deficit by
A) increasing taxes.
B) reducing taxes.
C) increasing spending.
D) increasing inflation.
The Answer is A) increasing taxes.
Answers
Answer:
c
Explanation:
not sure but I tried may best tho
Answer:
A) increasing taxes.
Explanation:
what is 4/8 = ??????????????????????
Answers
Answer:
4/8 is equivalent to 1/2
Explanation:
Hope it helps a lot :]
Answer:
4 divided by eight? if this is the question then the answer is 1/2
Explanation:
let me know if that was what you were asking
In each of the following situations, identify which of the twelve economic principles is at work.
a. You choose to purchase your textbooks online through Chegg rather than paying a higher
price for the same books through your college bookstore.
b. On your spring break trip, your budget is limited to $35 a day.
c. Craigslist allows departing students to sell items such as used books, appliances, and
furniture rather than giving them away as they formerly did.
d. After a hurricane did extensive damage to homes on the island of St. Crispin, homeowners
wanted to purchase many more building materials and hire many more workers than were
available on the island. As a result, prices for goods and services rose dramatically across
the board.
e. You buy a used textbook from your roommate. Your roommate uses the money to buy
songs from iTunes.
f. You decide how many cups of coffee to have when studying the night before a test by
considering how much more work you can do by having another cup versus how jittery it
will make you feel.
g. There is limited lab space available to do the project required in Chemistry 101. The lab
supervisor assigns lab time to each student based on when that student is able to come.
h. You realize that you can graduate a semester early by forgoing a semester of study abroad.
i. At the student center, there is a bulletin board on which people advertise used items for sale,
such as bicycles. Once you have adjusted for differences in quality, all the bikes sell for
about the same price.
j. You are better at performing lab experiments, and your lab partner is better at writing lab
reports. So the two of you agree that you will do all the experiments, and she will write up
all the reports.
k. State governments mandate that it is illegal to drive without passing a driving test.
l. Your parents’ after-tax income has increased because of a tax cut passed by Congress. They
therefore increase your allowance, which you spend on a spring break vacation.
Answers
Principle of Opportunity Cost, Principle of Comparative Advantage, Principle of Scarcity, Principle of Incentives, Principle of Supply and Demand , Principle of Trade, Principle of Marginal Analysis, Principle of Allocation of Resources , Principle of Opportunity Cost , Principle of Market Equilibrium, Principle of Division of Labor and Principle of Government Intervention are the 12 economic principles.
a. You choose to purchase your textbooks online through Chegg rather than paying a higher price for the same books through your college bookstore.
Principle of Opportunity Cost: You have to make a choice between buying textbooks at the college bookstore and buying them online, and the opportunity cost of one choice is the benefit of the other choice.
Principle of Comparative Advantage: Buying textbooks online is cheaper than buying from the college bookstore, so it is a better option for you.
b. On your spring break trip, your budget is limited to $35 a day.
Principle of Scarcity: You have a limited budget, which means there is not enough money to buy everything you want, so you have to make choices about what to buy.
c. Craigslist allows departing students to sell items such as used books, appliances, and furniture rather than giving them away as they formerly did.
Principle of Incentives: By allowing students to sell items, Craigslist provides an incentive for them to do so, which increases the number of items available for purchase.
d. After a hurricane did extensive damage to homes on the island of St. Crispin, homeowners wanted to purchase many more building materials and hire many more workers than were available on the island. As a result, prices for goods and services rose dramatically across the board.
Principle of Supply and Demand: The increased demand for building materials and workers has led to an increase in prices due to the law of supply and demand.
e. You buy a used textbook from your roommate. Your roommate uses the money to buy songs from iTunes.
Principle of Trade: You and your roommate engage in trade, exchanging a used textbook for money, which your roommate then uses to buy songs.
f. You decide how many cups of coffee to have when studying the night before a test by considering how much more work you can do by having another cup versus how jittery it will make you feel.
Principle of Marginal Analysis: You make a decision by considering the additional benefit (doing more work) and additional cost (feeling jittery) of having another cup of coffee.
g. There is limited lab space available to do the project required in Chemistry 101. The lab supervisor assigns lab time to each student based on when that student is able to come.
Principle of Allocation of Resources: The lab supervisor is allocating the limited lab space among the students based on their availability.
h. You realize that you can graduate a semester early by forgoing a semester of study abroad.
Principle of Opportunity Cost: By forgoing a semester of study abroad, you have the opportunity to graduate early, but you also give up the benefits of studying abroad.
i. At the student center, there is a bulletin board on which people advertise used items for sale, such as bicycles. Once you have adjusted for differences in quality, all the bikes sell for about the same price.
Principle of Market Equilibrium: The market for used bicycles has reached equilibrium, with the price at which supply equals demand and the price being equal for similar quality bikes.
j. You are better at performing lab experiments, and your lab partner is better at writing lab reports. So the two of you agree that you will do all the experiments, and she will write up all the reports.
Principle of Division of Labor: By dividing the work based on your strengths, the two of you can produce more output together than you would be able to alone.
k. State governments mandate that it is illegal to drive without passing a driving test.
Principle of Government Intervention: The government is intervening in the market for driving by requiring a driving test.
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benefits of world trade organisation
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Answer:
— Participation in the development of new rules and principles of international trade. ...
— Export diversification. ...
— Transparent, predictable and attractive investment regime. ...
— Increase of sovereign credit ratings. ...
— Strengthening positions in trade disputes
please help due in an hour
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The very first reason I would say is because it doesn’t specify how big of a diamond meaning the value could range from $100 to $100,000,000
The second reason is water is free in a sense you could get five empty bottles you find laying around and then go to a creek and fill them up with water. (You could get so much more for a diamond than a few bottles of water)
The last reason ( that goes along with the first two) is because it’s unique diamonds are hard to come across but water in the other hand is found almost every wear in fact it covers about 71% of earth.