Mary buys a new toaster for $500. the toaster's label bears a disclaimer stating that the manufacturer is not liable for consequential damages. one morning while mary is using the toaster, it emits sparks and damages the electrical wiring in the kitchen. the electrician tells mary that the toaster malfunctioned and that the cost of repairs in her kitchen would amount to $2,000. what amount of monetary damages can mary likely recover from the manufacturer of the toaster

Braverman company has two manufacturing departments—finishing and fabrication. the predetermined overhead rates in finishing and fabrication are $18.00 per direct labor-hour and 110% of direct materials cost, respectively. the company’s direct labor wage rate is $16.00 per hour. the following information pertains to job 700: finishing fabrication direct materials $ 410 $ 60 direct labor $ 128 $ 48 required: 1. what is the total manufacturing cost assigned to job 700? 2. if job 700 consists of 15 units, what is the unit product cost for this job?

Your aunt is thinking about opening a hardware store. she estimates that it would cost $300,000 per year to rent the location and buy the stock. in addition, she would have to quit her $45,000 per year job as an accountant. a. define opportunity cost. b. what is your aunt's opportunity cost of running a hardware store for a year? if your aunt thought she could sell $350,000 worth of merchandise in a year, should she open the store? explain.

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.