The statement "Economics involves describing what is happening or predicting what will happen" reflects positive analysis, while the statement "Economics concerns what should occur and involves value judgments" reflects normative analysis.
Positive policy analysis describes what is currently happening or what has happened in the past. Positive analysis is based on facts and evidence, and it is intended to provide objective data that can be used to make informed decisions.What is normative policy analysis?Normative policy analysis, on the other hand, is concerned with what ought to happen. Normative analysis is subjective because it is based on personal values, beliefs, and preferences rather than objective data. It seeks to make recommendations based on ethical and moral principles, as well as other social and political considerations.
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an implied warranty of merchantability arises in every sale or lease of goods by a non-merchant. group of answer choices true false
The given statement "an implied warranty of merchantability arises in every sale or lease of goods by a non-merchant" is false because they do not araise in every sale or lease of goods by a non-merchant.
An implied warranty of merchantability is a legal term used in the United States to describe the expectation that goods being sold or leased are fit for their intended purpose, of a quality that would be expected from a merchant in that industry, and free from any defects that would make the goods unusable.
While this warranty is implied in every sale or lease of goods made by a merchant, it does not automatically arise in every sale or lease of goods made by a non-merchant. A non-merchant is an individual or entity that is not regularly engaged in the sale or lease of goods and does not hold themselves out as an expert in the field.
In such cases, the buyer assumes the risk associated with the quality of the goods, and any warranties would need to be explicitly stated in the contract. Therefore, an implied warranty of merchantability does not arise in every sale or lease of goods by a non-merchant.
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________ an investment strategy in which you spread out your investments among many different types
Question 2 options:
equity investments
investing
diversification
overdraft
an individual taxpayer reports the following items for the current year:what is the taxpayer's adjusted gross income (agi) for the year? rental income from building rented to a third party
More information is needed to calculate the taxpayer's AGI, as we only have rental income from a building.
To decide the citizen's changed gross pay (AGI) for the year, we want to think about all types of revenue, derivations, and changes. In view of the data gave, we just have rental pay from a structure leased to an outsider. Subsequently, we really want more data to decide the citizen's AGI.
Assuming that the rental pay is the main type of revenue, it will be accounted for on Time E of Structure 1040. The citizen can deduct costs connected with the investment property, for example, contract revenue, local charges, and fixes, to show up at the net rental pay. The net rental pay will be remembered for the citizen's complete pay for the year, which will decide their AGI.
Nonetheless, on the off chance that the citizen has different kinds of revenue, for example, wages or independent work pay, those sums will likewise be remembered for the estimation of the AGI. Also, the citizen might be qualified for derivations and acclimations to show up at the last AGI.
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increasing international exchange in goods and services can run into the difficulty of how to address the needs of customers at different income levels. group of answer choices true false
True, the challenge of meeting the needs of clients with varied income levels can arise as global trade in goods and services increases.
Because clients with different income levels have different purchasing power and tastes, this statement is accurate. They might therefore demand various degrees of product quality, price, and features.
Customers with lower income levels may place more importance on price than product quality, whereas customers with higher income levels may place more importance on premium features and quality than affordability.
For companies looking to increase their interchange of goods and services internationally, this poses a hurdle. Companies must figure out how to profitably serve customers with varying income levels while successfully addressing their demands.
To suit the preferences and purchasing power of clients in other marketplaces, they could need to modify their goods or services, which could necessitate additional spending and resources.
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assume that a monopolist sells a product with a total cost function: t c equals 1 comma 200 space plus 0.5 q squared. the market demand curve is given by the equation: q space equals space 300 space minus space p. for what range of output will the firm's revenue be increasing?
The range of output for which the monopolist's revenue is increasing is 51 to 151 units of the product.
The revenue function for a monopolist is given by:
R = p*q
We can write the market demand curve as:
q = 300 - p
Substituting this into the revenue function, we get:
R = p*(300 - p) = 300p - p^2
The monopolist's total cost function is given by:
TC = 1,200 + 0.5q^2
Substituting the expression for q from the demand curve, we get:
TC = 1,200 + 0.5(300 - p)^2
Simplifying this expression, we get:
TC = 1,200 + 45,000 - 900p + 0.5p^2
TC = 46,200 - 900p + 0.5p^2
The monopolist's profit function is given by:
π = R - TC = (300p - p^2) - (46,200 - 900p + 0.5p^2)
π = -0.5p^2 + 1200p - 46,200
To find the range of output for which the monopolist's revenue is increasing, we need to find the range of output for which the monopolist's marginal revenue is positive.
The monopolist's marginal revenue function is given by:
MR = dR/dq = 300 - 2p
Setting MR equal to zero, we get:
300 - 2p = 0
p = 150
The monopolist's marginal revenue is positive for prices below $150.
The monopolist's marginal cost function is given by:
MC = dTC/dq = pq
Substituting q = 300 - p, we get:
MC = p(300 - p)
Setting MC equal to the price ($p), we get:
p(300 - p) = p
300 - p = 1
p = 299
The monopolist's marginal cost is equal to the price for prices above $299.
Therefore, the range of output for which the monopolist's revenue is increasing is:
299 < p < 150
Substituting the demand curve equation, we get:
51 < q < 151
So the range of output for which the monopolist's revenue is increasing is 51 to 151 units of the product.
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network externalities exist when a product or service becomes less expensive as more people use it. network externalities exist when a product or service becomes less expensive as more people use it. true false
Network externalities exist when a good or service costs less as more people use it, which contradicts the statement that it does.
Network externalities are the advantages that an extra user of a good or service has on the worth of that good or service to other people. Network externalities: what are they? The influence of a new user on the value of a product to other users is referred to as the impact of network externalities. In the topic of positive externalities, network externalities are commonly discussed in technology markets.
When the number of other users of a good influences a user's choice to use it, this phenomenon is known as a network externality. It implies that the quantity of users determines how valuable a commodity or service is.
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michael is a successful financial advisor who focuses on investing in new ventures. he is looking to invest money directly into a new consulting business in return for equity in the company. michael is an example of a(n) . group of answer choices
Michael is an example of an C) angel investor.
Angel investors are individuals who invest their personal funds in new or small businesses in exchange for equity in the company. They often provide support and guidance to the entrepreneur in addition to financial backing.
Angel investors typically invest in businesses that have high growth potential but may be too risky for traditional forms of funding. They can be an important source of funding for startups and can help to bring innovative ideas to market.
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horace properly completed his form 1040 tax return and received a refund from the irs of $649. horace had income tax withholding during the year of $2,985. his tax liability for the year was:
Horace's tax liability for the year was $2,336. This means that he overpaid his taxes during the year by $649 and received a refund from the IRS.
To determine Horace's tax liability for the year, we need to subtract his income tax withholding from his total tax liability.
The refund that Horace received from the IRS of $649 indicates that his total tax liability was less than his income tax withholding. We can use this information to set up an equation to solve his tax liability.
Let X be Horace's tax liability for the year.
Then, we can write:
X - $2,985 = -$649
Simplifying, we get:
X = $2,985 - $649
X = $2,336
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jolanta has been offered a promotion, and she will be leading the new product development team. before her new position starts, jolanta is being sent to training, and that training will concentrate in business. which aspect of the creative process is jolanta pursuing?
Aspects of creative process that Jolanta is pursuing are: Exploring new ideas, generating alternatives and selecting the best alternatives.Creative process refers to a sequence of steps or stages that begins with the formulation of a new idea or creation and concludes with the implementation or execution of the idea.
Jolanta has been offered a promotion, and she will be leading the new product development team. She is being sent to training that will concentrate on business, and thus, Jolanta is pursuing a number of aspects of the creative process.To start with, she is exploring new ideas. In order to come up with new and innovative products, it is important to look for new and different ideas. Through her training, Jolanta will learn about different aspects of business and this may help her to come up with new ideas for product development.
By exploring new ideas, Jolanta will be able to identify areas that have been neglected in the past and create products that can fill those gaps. Next, Jolanta is generating alternatives. When it comes to product development, there are often multiple options or alternatives that can be explored. Jolanta's training will help her to generate different alternatives or options for product development. For example, she may be able to identify new markets that the company can tap into or she may be able to suggest new features or functionalities for the company's products.
Finally, Jolanta will be selecting the best alternatives. Once she has generated different alternatives, Jolanta will need to select the best option or alternative. This will require careful consideration of the different factors involved such as cost, feasibility, market demand and competition. Through her training, Jolanta will be equipped with the skills and knowledge needed to make informed decisions about which alternative to select.
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sustainability objectives are best met when all stakeholders work from the very beginning towards common project goals, and complete the project as a whole system rather than the mere consequence of the sum of individual isolated parts. this team approach can best be described as:
The appropriate response is the integrated design process. The integrated design process is the best way to describe the team approach.
Integrated design is a thorough, holistic approach to design that combines specialties that are typically taken into account individually. It makes an effort to examine every aspect and variation required for making a decision. In order to link their systems and guarantee uniform access to reliable, consistent data from all sources, businesses need a process integration solution. Lack of business integration could otherwise result in high productivity expenses. It depends on every project team member having a shared understanding of sustainability and working together to put sustainability objectives into practise at the right points in the project.
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the human resource's department costs are allocated based on the number of employees. if the costs were 67,850 during a month, the cost allocated to department y under the direct method would be
The expense of the human resources department is divided according to the number of employees. The cost allocated to department Y under the direct method would be $13,570.
Under the direct method of cost allocation, the costs are allocated directly to the departments that use the resources. In this case, the human resources department costs are allocated based on the number of employees in each department.
If the human resources department costs were $67,850 during a month, we would need to know the number of employees in each department to allocate the costs. Let's assume that department Y has 50 employees, and the total number of employees in the company is 250.
To allocate the costs to department Y, we need to calculate the proportion of employees in department Y to the total number of employees in the company. The proportion of employees in department Y is 50/250, or 0.2.
Next, we can multiply the proportion of employees in department Y by the total cost of the human resources department to determine the cost allocated to department Y.
The cost allocated to department Y would be:
0.2 x $67,850 = $13,570
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question 36 if a user abandons their shopping cart without making a purchase, one way to bring them back to complete the purchase is?
One way to bring back a user who abandoned their shopping cart is to send them a personalized email reminding them of the items left in their cart and offering an incentive or discount to complete the purchase
One way to bring back a user who abandoned their shopping cart is to send them a personalized email reminding them of the items left in their cart and offering an incentive or discount to complete the purchase. You can also include links to related or complementary products, customer reviews, and any shipping or return policies that may help alleviate any concerns they may have had.
Another option is to use retargeting ads on social media or search engines to show the user ads featuring the products they left in their cart, which can serve as a reminder and encourage them to complete the purchase.
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paramita's firm provides tuition assistance for any of its employees who take approved courses to either help them in their jobs or toward a degree. this is an example of what?
Paramita's firm provides tuition assistance to its employees for approved courses that either help them in their jobs or toward a degree. This is an example of an employee benefit that helps employees improve their knowledge and skills, which in turn benefits the employer by increasing productivity and efficiency.
A degree is a formal qualification that a person can earn after completing a prescribed course of study at a college or university. There are different types of degrees, such as associate, bachelor's, master's, and doctoral degrees, each with their own requirements and duration of study.
Having a degree can be a significant advantage in today's job market. It demonstrates to employers that an individual has acquired a certain level of knowledge and skills in a particular field, which can make them more attractive to employers.
Furthermore, many employers require a degree as a prerequisite for certain positions, particularly in fields such as science, technology, engineering, and mathematics (STEM).
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an engineer working for a big design firm has decided to start a consulting business, but it will be a few months before she leaves. how should she handle the impending change?
To handle the impending change of starting a consulting business, the engineer must begin by creating a plan of action.
The engineer should also take advantage of the time remaining before leaving her current job to start building her consulting brand. She can create a professional website, business cards, and other marketing materials to establish her consulting business's presence.
Another crucial aspect of preparing for the transition to consulting is to maintain a good relationship with her current employer. The engineer should be transparent about her intentions to start a consulting business, and offer to help with the transition process.
Lastly, the engineer should be prepared for the challenges that come with starting a consulting business. This includes being able to manage her time effectively, dealing with unpredictable income streams, and managing client expectations.
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the following set of newly issued debt instruments was purchased for a porfolio: trasury bond. zero-coupon bond. corporate bond. municipal bond. the respective maturities of these investments are approximately equivalent
The respective maturities of the investments in the student question, which includes a Treasury bond, zero-coupon bond, corporate bond, and municipal bond, are approximately equivalent.
What is a treasury bond?Treasury bonds are government debt securities issued by the U.S. Department of the Treasury to fund the country's financial commitments. They are a long-term financial obligation of the U.S. government, with a maturity of more than ten years, and they are considered one of the most secure investments available to individuals and organizations.
What is a zero-coupon bond?A zero-coupon bond is a debt security that pays no interest or coupon rate over its life. Instead, it is issued at a discount to face value and redeemed at par or face value on the maturity date.
What is a corporate bond?A corporate bond is a type of debt instrument issued by a corporation to raise capital. Corporate bonds are usually issued to fund capital expenditures or expansion projects, as well as to refinance outstanding debt.
What is a municipal bond?Municipal bonds are debt securities issued by local governments and authorities, such as cities, towns, counties, and school districts, to fund public infrastructure projects such as schools, roads, bridges, and hospitals.
Municipal bonds are tax-free at the federal level and may be exempt from state and local taxes depending on the state of issuance.
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during its most recent fiscal year, dover, incorporated had total sales of $3,320,000. contribution margin amounted to $1,560,000 and income was $490,000. what amount should have been reported as variable costs in the company's contribution margin income statement for the year?
Dover Incorporated should have reported $1,760,000 as variable costs in its contribution margin income statement for the most recent fiscal year.
During its most recent fiscal year, Dover Incorporated had total sales of $3,320,000, a contribution margin of $1,560,000, and income of $490,000. To calculate the variable costs that should have been reported in the company's contribution margin income statement for the year.Understand the formula for calculating the contribution margin. The contribution margin is the difference between total sales and variable costs: Contribution Margin = Total Sales - Variable Costs.
Rearrange the formula to solve for variable costs: Variable Costs = Total Sales - Contribution Margin. Substitute the given values for total sales and contribution margin into the formula:Variable Costs = $3,320,000 - $1,560,000. Perform the calculation to find the variable costs:Variable Costs = $1,760,000So, Dover Incorporated should have reported $1,760,000 as variable costs in its contribution margin income statement for the most recent fiscal year.
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if a bank gives you an interest rate of 6% per year compounded monthly, what is the effective rate that your account is earning per year?
If a bank gives you an interest rate of 6% per year compounded monthly, the effective rate that your account is earning per year is 6.17%.
The effective annual interest rate, or effective annual yield, is a measure of a deposit account's true annual yield.
It considers the interest rate and the effect of compounding, assuming that the interest is reinvested at the same rate as the original principal.
The formula to calculate the effective annual interest rate is:
Effective annual interest rate = (1 + r/n)n - 1
where r is the annual interest rate and n is the number of compounding periods in one year.
In this example, the interest rate is 6% per year, compounded monthly.
Therefore, the number of compounding periods per year is 12, as there are 12 months in a year. So, n = 12.
Substituting these values into the formula, we have:
Effective annual interest rate = (1 + 0.06/12)12 - 1
Effective annual interest rate = (1.005)12 - 1
Effective annual interest rate = 1.061678 - 1
Effective annual interest rate = 0.061678 or 6.17%
Therefore, the effective annual interest rate for this account is 6.17%.
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(cma adapted) the process of creating a financial plan of the revenues and resources needed to carry out activities and meet financial goals is referred to as:
The process of creating a financial plan of the revenues and resources needed to carry out activities and meet financial goals is referred to as budgeting.
In general , Budgeting is known as an important aspect of financial management that works by providing individuals or organizations to plan their financial activities . Also a financial plan may includes revenue forecasts, expense ideas to meet financial goals.
Also , budgeting may involves estimating and allocating resources to achieve financial goals. A budget helps individuals or organizations to plan their spending, control their cash flow, and monitor their financial performance.
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when a firm is a price searcher, its marginal revenue is group of answer choices equal to price because the firm's demand curve is perfectly elastic. equal to price if, and only if, the firm is maximizing profits. less than price when the firm is maximizing profits. equal to average total cost at the long-run equilibrium output rate.
When a firm is a price searcher, its marginal revenue is less than price when the firm is maximizing profits. The correct option is c.
What is Price searcher?A price searcher refers to an organization that can control the price at which it sells its product. As compared to perfect competition, the price searcher faces a downward-sloping demand curve. A company that can decide its product's price is called a price searcher.
What is marginal revenue?Marginal revenue is a fundamental calculation in economics that refers to the additional income gained from selling one additional unit of a product or service. The marginal revenue gained from selling a single unit of a product is what distinguishes it from regular revenue.
Marginal revenue is the additional income generated by increasing production by a single unit.
When is the marginal revenue less than price?When a firm is a price searcher, its marginal revenue is less than the price when the firm is maximizing profits. As a result, they should keep lowering the price to keep attracting new customers because they have some market control.
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which of the following best fits the definition of a small business? a. a hardware store franchise with 20 employees b. a manufacturer with 75 investors c. a fast food franchise with locations in three states d. a campground with gross revenues of $4 million per year.
The small business is described as a company with a small number of employees and a low level of revenue. It is not possible for large companies to operate in the same way as small businesses. Therefore option A is correct.
It is a general term that can refer to a wide range of companies that are privately owned, non-profit, or sole proprietorships. The most important thing is that they are small in size. There is no universally accepted definition of a small business, but most people believe that a company with fewer than 500 workers qualifies as one.The hardware store franchise with 20 employees is the best fit for the definition of a small business.
A hardware store franchise with 20 employees is an excellent example of a small business. The company has a small number of workers, which is a defining characteristic of a small business. In addition, it is not too complicated, and it may be operated by a single person or a small team. As a result, it does not require a significant investment of time or resources to establish or manage. So, this answer is correct: a. a hardware store franchise with 20 employees.
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in year 1, what net income should northeast bottlers use in its analysis of the bristol project, which involves expanding into bristol, if depreciation would be $160000; expenses would be $300000; revenues would be $300000; and the tax rate would be 20%? assume that the aforementioned depreciation, expenses, and revenues would be $0 without the bristol project.
The net income that Northeast Bottlers should use in its analysis of the Bristol project for year 1 is -$128,000.
To calculate the net income for the Bristol project, we need to first determine the taxable income:
Taxable income = The Revenues - the very expense - the depreciation
Taxable income = $300,000 - $300,000 - $160,000 = -$160,000
Since the taxable income is negative, the company will not have to pay any taxes. Therefore, the net income for the Bristol project would be:
Net income = Taxable income x (1 - Tax rate)
Net income = -$160,000 x (1 - 0.20) = -$128,000
Therefore, the net income that Northeast Bottlers should use in its analysis of the Bristol project for year 1 is -$128,000.
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7b. when a consumer in miami decides to purchas... when a consumer in miami decides to purchase a particular product, such as sunglasses, that person might be drawn to products and styles that are currently popular or have been popular before in this area or market. what factor helps influence this buying behavior?
The buying behavior of consumers in a particular area or market can be influenced by various factors, one of which is social influence.
Social influence refers to the impact that other people or groups have on an individual's attitudes, beliefs, and behaviors.
In the case of purchasing sunglasses in Miami, social influence may manifest in the form of the current or previous trends in the area, the recommendations of friends or family members who live in the area, or the influence of celebrities or other prominent figures who wear certain styles.
Additionally, social influence can also be influenced by culture, values, and norms that are specific to the area or market. For instance, in Miami, where the weather is generally sunny and warm, consumers may place a higher value on sunglasses that provide protection from the sun's rays while also being fashionable.
Therefore, understanding the social influence that drives buying behavior in a particular area or market can be crucial for businesses to tailor their marketing strategies and offerings to meet the needs and preferences of their target consumers.
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a firm's refusal to bargain on which of the following issues would most likely result in a charge of unfair labor practices? group of answer choices retiree health benefits job recruiting techniques hourly wages child-care benefits
A firm's refusal to bargain on hourly wage issues will most likely result in accusations of unfair labor practices. Here option C is the correct answer.
A firm's refusal to bargain on certain issues during the collective bargaining process with its employees' union may result in a charge of unfair labor practices. Unfair labor practices refer to any action or behavior by an employer that violates the rights of its employees under the National Labor Relations Act (NLRA).
The NLRA requires employers to bargain with employee representatives in good faith over certain terms and conditions of employment, including wages, hours, and other employment benefits. If a firm refuses to bargain over these mandatory bargaining topics, it could be charged with an unfair labor practice.
Among the given options, hourly wages are the only mandatory bargaining topic, and therefore, a firm's refusal to bargain on this issue would most likely result in a charge of unfair labor practices. The other options, such as retiree health benefits, job recruiting techniques, and child-care benefits, are not mandatory bargaining topics, although they may be negotiated between the employer and the union.
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Complete question:
A firm's refusal to bargain on which of the following issues would most likely result in a charge of unfair labor practices? group of answer choices
A - retiree health benefits
B - job recruiting techniques
C - hourly wages
D - child-care benefits
an insured purchased a $100,000 life insurance policy and paid the annual premium of $250. when the insured died a year later, the beneficiary received the entire $100,000. what feature of insurance contracts does this describe? a unilateral b indemnity c aleatory d conditional
The feature of insurance contracts described in this scenario is "aleatory." So, correct option is C.
An aleatory contract is a type of contract where the exchange of value between the parties is dependent on an uncertain event. In this case, the insured paid a premium in exchange for the possibility of a future payout, which ultimately occurred when the insured passed away.
The payout of the policy was much greater than the premium paid, and it was dependent on the uncertain event of the insured's death.
Aleatory contracts are common in insurance because they provide a way for individuals to transfer the risk of an uncertain event, such as death or a car accident, to an insurance company.
The premium paid is typically much smaller than the potential payout, making it an attractive option for individuals who want to protect themselves against a potentially catastrophic event.
In contrast, a unilateral contract is a one-sided agreement where only one party is bound to perform. An indemnity contract is one where the insurer agrees to compensate the insured for losses or damages suffered.
A conditional contract is one where the obligations of the parties are dependent on certain conditions being met.
Therefore, correct option is C.
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belle company reports the following information for the current year. all beginning inventory amounts equaled $0 this year.units produced this year 35,000 unitsunits sold this year 21,000 unitsdirect materials $ 15 per unitdirect labor $ 17 per unitvariable overhead $ 3 per unitfixed overhead $ 105,000 in totalbelle company's product is sold for $62 per unit a variable selling and administrative expense is $2 per unit and fixed selling and administrative is $230,000 per year. compute the net income under variable costing.
The net income under variable costing for Belle Company is $190,000.
To compute the net income under variable costing, we need to first calculate the variable cost per unit, which includes direct materials, direct labor, and variable overhead
Variable cost per unit = Direct materials + Direct labor + Variable overhead
Variable cost per unit = $15 + $17 + $3
Variable cost per unit = $35
Then, we can calculate the cost of goods sold (COGS) using the variable costing method.
COGS = Beginning inventory + Units produced - Ending inventory
COGS = 0 + 35,000 - (14,000)
COGS = 21,000 units x $35 per unit
COGS = $735,000
Next, we can calculate the variable selling and administrative expenses.
Variable selling and administrative expenses = Units sold x Variable selling and administrative expense per unit
Variable selling and administrative expenses = 21,000 units x $2 per unit
Variable selling and administrative expenses = $42,000
Now, we can calculate the contribution margin, which is the difference between the sales revenue and the variable costs.
Contribution margin = Sales revenue - COGS - Variable selling and administrative expenses
Contribution margin = 21,000 units x $62 per unit - $735,000 - $42,000
Contribution margin = $1,302,000 - $777,000
Contribution margin = $525,000
Finally, we can calculate the net income using the variable costing method.
Net income = Contribution margin - Fixed overhead - Fixed selling and administrative expenses
Net income = $525,000 - $105,000 - $230,000
Net income = $190,000
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a bond is a question 9 options: financial intermediary. certificate of indebtedness. certificate of partial ownership in an enterprise. none of the above is correct.
A bond is a is "certificate of indebtedness." A bond is a debt security issued by a borrower, typically a company or government, that promises to pay back the principal along with interest over a specified period. Option (2)
A bond is a type of financial instrument that represents a loan made by an investor to a borrower, typically a corporation or government entity. The bond issuer agrees to pay a fixed interest rate, called the coupon rate, to the bondholder for a set period of time, after which the bond reaches maturity and the principal amount is repaid.
Bonds are considered a form of debt financing and are widely used by companies and governments to raise capital. Unlike stocks, bonds do not represent ownership in the issuing entity and bondholders do not have voting rights in the company or government.
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Full Question: A bond is a
financial intermediary. certificate of indebtedness. certificate of partial ownership in an enterprise. none of the above is correct.california can produce 45 oranges per worker or as many as 65 movies per worker, while alaska can produce 10 oranges per worker or as many as 3 movies per worker. provide your answers to this question directly below in the space provided and number your answers according to the corresponding letter of each question. do not rewrite the questions in the answers and keep your answers brief. blanks usually require only one word. all others, no more than 10 words. (25 points) a. california incurs increasing opportunity costs in making oranges and movies. briefly describe how its ppf looks. (2 points) b. if california incurs increasing opportunity costs in making oranges and movies, what can we infer about its resources? (3 points) c. suppose alaska is making a combination of 2 oranges and 1 movie. what can we infer about this combination of output? (2 points) d. alaska's opportunity cost of making one orange is . while his opportunity cost of making one movie is . (4 points) e. california's opportunity cost of making one orange is . while his opportunity cost of making one movie is . (4 points) f. an absolute advantage in making oranges is possessed by . (2 points) g. california should specialize in the production of , while alaska should specialize in the production of . (2 points) h. how would you illustrate trade on alaska's ppf? (2 points) i. producing a product at the lowest opportunity cost is called . (2 points) j. california acquires a new technology for making films, how would this affect its ppf. (2 points)
As per the given question, when a nation produces goods and services for less money than rival nations, it is said to have a comparative advantage.
A nation has a comparative advantage when it can manufacture commodities for less money than others. Opportunity cost quantifies a trade-off in a way that a nation with comparative advantage finds the trade-off to be worthwhile. Thus, the given questions can be answered as -
a. California's PPF is bowed outward, demonstrating expanding opportunity costs. Thus it looks like concave PPF.
b. California's assets are not similarly proficient in delivering oranges and films which means scarce or specialized resources
c. The Frozen North is delivering at a point inside its PPF, meaning it isn't utilizing every one of its assets. Thus, 6 movies, 3 oranges are possible.
d. Gold country's chance expense of making one orange is 0.1 motion pictures, while the open door cost of making one film is 10 oranges. Thus, 0.5 movies and 2 oranges are possible
e. California's chance expense of making one orange is 0.44 films, while the open door cost of making one film is 2.27 oranges.
f. California has an outright benefit in making the two oranges and films. Thus, it will be None.
g. California ought to spend significant time in making motion pictures, while The Frozen North ought to work in making oranges.
h. Exchange on The Frozen North's PPF can be shown by demonstrating the way that it can create a greater amount of one great by surrendering a portion of the other great. Thus, it is a point outside PPF.
I. Delivering an item at the least open-door cost is called a similar benefit. This signifies a Comparative advantage
j. The new innovation could move California's PPF outward, permitting it to create a greater amount of the two oranges and films.
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which of the pricing orientations discussed in the text does planet fitness most closely pursue? multiple choice sales-oriented profit-oriented competitor-oriented customer-oriented premium-oriented
Planet Fitness most closely pursues a customer-oriented pricing orientation. This means that the company focuses on delivering value to its customers by setting prices that reflect what customers are willing to pay for its services.
Planet Fitness aims to attract and retain customers by offering them affordable pricing options and high-quality services. By doing so, the company can differentiate itself from its competitors and build a loyal customer base. Customer-oriented pricing also allows the company to maintain a competitive advantage by keeping customers satisfied and generating positive word-of-mouth referrals.
Overall, Planet Fitness' customer-oriented pricing strategy has been effective in helping the company grow its customer base and achieve long-term success.
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economic rents are returns that multiple choice are not related to the opportunity cost of capital. are less than the opportunity cost of capital. exceed the opportunity cost of capital. equal the opportunity cost of the capital.
Economic rents are returns that exceed the opportunity cost of capital.
What are economic rents?Economic rents are returns that exceed the opportunity cost of capital. Economic rent refers to a profit or return earned over and above the opportunity cost of capital.
Economic rent is the difference between the actual payment made to a factor of production and the minimum payment required to keep that factor in its current use.Opportunity cost is the cost of using a resource in a particular way.
The opportunity cost of capital is the return that could have been earned by using the same capital in its next-best alternative use. Economic rent represents a payment over and above the opportunity cost of capital.
Therefore, the correct option is: Exceed the opportunity cost of capital.
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which of the following policies can be used to both offset a negative externality and boost a positive externality? group of answer choices a ban and regulations subsidies and tax self-regulation and taxes regulations and tax
Subsidies and taxes can be used to both offset a negative externality and boost a positive externality.
In this case option b is correct
A negative externality occurs when the production or consumption of a good or service imposes costs on third parties who are not involved in the transaction, while a positive externality occurs when the production or consumption of a good or service generates benefits for third parties who are not involved in the transaction.
When a negative externality is present, such as pollution or traffic congestion, a tax can be imposed on the producer or consumer to internalize the cost of the externality and encourage them to reduce their production or consumption of the good or service. This is known as a Pigouvian tax.
On the other hand, when a positive externality is present, such as education or vaccination, a subsidy can be provided to the producer or consumer to internalize the benefit of the externality and encourage them to increase their production or consumption of the good or service.
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