Question 1:
tommy uses sand to make glass that he sells to a window manufacturing compa...
Business, 29.09.2019 23:30 mimigg0621
Question 1:
tommy uses sand to make glass that he sells to a window manufacturing company. the sand is an example of
land (my choice)
entrepreneurship
labor
capital
question 2:
which of the following reasons for starting a business is most closely associated with profit motive?
a financial adviser opens a storefront designed to provide credit counseling for those needing .
a computer programmer hopes to design games that can benefit children with speech impediments.
a contractor starts a new home building business with the expectation of making $500,000 in his first year of business. (my choice)
a baker re-opens the store her grandfather first opened. she is excited to carry on his legacy in the town.
question 3:
economics is a social science devoted to the study of
politics and money
events of the past
how people allocate scarce resources within an economic system (my choice)
the interactions of people and societies within a country
question 4:
opportunity cost is best described as
sum of all production costs
the most expensive resource used in production
value of the next best alternative foregone when a choice is made (my choice)
monetary value of all alternatives foregone when a choice is made
question 5:
carrie has to decide between going to a football game or going to the movies. she decides to go the football game. which of the following is her opportunity cost?
the cost of the football game ticket.
missing the opportunity to go to the movies.
the opportunity to see her friends at the football game. (my choice)
the cost of popcorn at the movies.
question 6:
using the concepts of marginal analysis, what decision would you make when marginal benefit is less than the marginal cost?
close the business because it is now making losses
do not produce the additional unit
decrease production (my choice)
produce more output
question 7:
jamie must decide whether to buy a new truck. he concludes the costs of buying the truck are greater than the benefits. in jamie’s case, buying the truck would be
a productive choice
an irrational economic decision
an opportunity cost (my choice)
a rational economic decision
question 8:
which of the following is the best example of labor investment for a retail store?
renting land for the building
hiring sales clerks and managers (my choice)
buying cash registers and displays
the owner of the store interviewing a clerk
question 9:
in some areas of the world, some people must walk over a mile to get access to water.
this statement best supports which economic concept?
allocation
incentive
shortage
scarcity (my choice)
question 10:
phil has a barber shop. which of the following is an example of capital at his shop?
scissors and combs
bud, a worker
phil, the owner (my choice)
water
Answers: 2
Business, 21.06.2019 22:10, jaxonsensintaff
Arival company manufactures fuel tanks for cars using a different production technique. the total weekly cost (in dollars) of producing x tanks is given by c(x) = 10000 +90x - 0.04x2 find the marginal cost at a production level of 500 fuel tanks per week to approximate the cost of the 501st unit (round to the nearest 2 decimal places, if needed)
Answers: 3
Business, 22.06.2019 19:20, dayday0
Six years ago, an 80-kw diesel electric set cost $160,000. the cost index for this class of equipment six years ago was 187 and is now 194. the cost-capacity factor is 0.6. the plant engineering staff is considering a 120-kw unit of the same general design to power a small isolated plant. assume we want to add a precompressor, which (when isolated and estimated separately) currently costs $13291. determine the total cost of the 120-kw unit. (hint: skip $ and comma symbols)
Answers: 3
Business, 22.06.2019 21:00, mattsucre1823
Suppose either computers or televisions can be assembled with the following labor inputs: units produced 1 2 3 4 5 6 7 8 9 10 total labor used 3 7 12 18 25 33 42 54 70 90 (a) draw the production possibilities curve for an economy with 54 units of labor. label it p54. (b) what is the opportunity cost of the eighth computer? (c) suppose immigration brings in 36 more workers. redraw the production possibilities curve to reflect this added labor. label the new curve p90.
Answers: 2
Business, 23.06.2019 16:10, cordobamariana07
Aconsumer would pay an extra if they used the rent to own program to buy the computer, rather than using cash. for all of the items, using is the cheapest option over the life of the contract. the most expensive overall option is to use to purchase the item.
Answers: 3
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