We expect the law of diminishing marginal product to hold because all inputs but one are held constant. The law states that this increase in the input will result in smaller increases in the output if at least one production variable, such as labor or capital, is maintained constant. Option(d) is the correct answer.
Marginal productivity typically declines when beneficial changes are made to the input variables that influence total productivity.
According to the law of diminishing marginal productivity, the productivity gained from each subsequent unit produced after a factor of production is improved will only slightly increase from one unit to the next.
When production managers enhance variable inputs for greater production and profitability, they take the law of diminishing marginal productivity into account.
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The law is where in early production process, if one production variable increases while keeping everything else constant, the overall production of the product may rise.
It is expected the law of diminishing marginal product to hold because all inputs but one are held constant. The law states that this increase in the input will result in smaller increases in the output if at least one production variable, such as labor or capital, is maintained constant. Option(d) is the correct answer.
Marginal productivity typically declines when beneficial changes are made to the input variables that influence total productivity. According to the law of diminishing marginal productivity, the productivity gained from each subsequent unit produced after a factor of production is improved will only slightly increase from one unit to the next.
When production managers enhance variable inputs for greater production and profitability, they take the law of diminishing marginal productivity into account.
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the cost allocation base . question content area bottom part 1 a. are costs related to a particular cost object that cannot be traced to that cost object in an economically feasible way b. is a grouping of individual indirect cost items c. is anything for which a measurement of costs is desired d. is a systematic way to link an indirect cost or group of indirect costs to cost objects
The correct answer is d. The cost allocation base is a systematic way to link an indirect cost or group of indirect costs to cost objects.
Cost allocation is the process of relieving the cost centers of shared service organizations that offer a good or service. Internal customers' cost centers that use the goods and services are then given credit for the related charge. A mechanism to keep track of which companies offer a product or service, which companies use it, and a list of portfolio offers make up the fundamental elements of a cost allocation system. The data on cost allocation may be used to create an internal invoice or to feed an ERP system's chargeback module, depending on the organizational structure inside the business.
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If alejandro wants to pay off his student loan by basing it on how much he is earning at his job after graduation, what type of repayment plan is best for him?.
If alejandro wants to pay off his student loan by basing it on how much he is earning at his job after graduation, The type of repayment plan that is best for him is; Income-Driven Repayment Plan..
What is Income-Driven Repayment Plan?Income-Driven Repayment Plan can be defined as the plan that enables you to pay off your student loan by paying some certain amount of money to you every month and this money you are been paid will be determine by your income.
Based on the scenario it is advisable that he enroll under Income-Driven Repayment Plan as this will help him to pay off his student loan.
Therefore we can conclude that Income-Driven Repayment Plan is the right plan for him.
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developing countries should part 2 a. focus on producing service goods. b. not focus on economic growth. c. focus on production based on comparative advantage. d. produce goods that are capital intensive and not labor intensive.
Developing countries should focus on production based on comparative advantage.
Comparative advantage is an ability possessed by individuals, companies, or countries to produce goods and services using a lower amount of funds than the funds issued by competitors. Comparative advantage can provide the ability to sell goods or services at a lower price than competitors. Not only that, but comparative advantage can also help business owners realize a fairly strong sales margin.
The use of large amounts of funds by competitors who have a comparative advantage may not necessarily be able to obtain good results than with other companies that produce goods or services. This proves that a sacrifice in the form of spending funds or capital that is large enough may not necessarily produce a profit.
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question mode multiple choice question livelife company had a credit balance of $10,000 in accounts payable at the beginning of the period, and a credit balance of $6,000 at the end of the period. based on this information, the adjustment to net income for the period will be reported as
At the beginning of the period, accounts receivable had a debit amount of $10,000, and at the end of the period, it had a debit balance of $6,000.
A drop of $4,000 will be added to net income as a result of the adjustment to net income for the period, which is based on this information.
What happens when the amount of accounts receivable increases over time?
An increase in an organization's accounts receivable balance indicates that more income has been generated with credit payments; consequently, more cash payments will need to be collected in the future. The amounts billed to the consumers who made credit payments, on the other hand, were received in cash if a company's A/R balance decreased.
What causes a decline in accounts receivable?
The ratio decreases when the balance of accounts receivable grows more quickly than sales grow. A decreasing ratio is mostly brought about by changes to the company's credit policy and growing issues with timely receivables collection.
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on december 31, 2021, interlink communications issued 4% stated rate bonds with a face amount of $110 million. the bonds mature on december 31, 2051. interest is payable annually on each december 31, beginning in 2022
Interest - Bond Price is $97.45 million, rounded to the nearest million.
Interest :
In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate.It differs from a fee that the borrower may pay to the lender or a third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit or reserve, but not at a particular rate decided beforehand, rather on a pro rata basis as a share in the reward gained by risk taking entrepreneurs when the revenue earned exceeds the total costs.
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Complete Question
On December 31, 2021, Interlink Communications issued 5% stated rate bonds with a face amount of $113 million. The bonds mature on December 31, 2051. Interest is payable annually on each December 31, beginning in 2022. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $). Determine the price of the bonds on December 31, 2021, assuming that the market rate of interest for similar bonds was 6%.
Table values are based on:
n = 30
i = 6%
Cash Flow Amount Present Value
Interest $111,300,000 $74,454,240
Principal $100,000,000 $13,137,000
Price of bonds $87,591,240
is when a new legal entity is formed by a combination or consolidation of two firms. group of answer choices a merger a related diversification an acquisition an unrelated diversification
A merger is when a new legal entity is formed by a combination or consolidation of two firms.
Business transactions known as mergers occur when the ownership of one company or business organization is transferred to, or combined with, another firm or business organization.
Through a merger, two distinct companies become one new legal entity. Since it's uncommon for two comparable businesses to benefit equally by pooling their resources and personnel, including their CEOs, true mergers are uncommon. A merger of equals, as the name implies, often comprises businesses of the same size. When two businesses merge, the stock of each is ceded, and fresh equity shares are issued for the new company.
Companies or assets are consolidated through mergers which are done to spur growth, obtain competitive advantages, expand market share, or change supply chains.
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the prisoner's dilemma is an example of market signaling. a zero-sum game. a non-zero sum, non-cooperative game with a dominant strategy. adverse selection.
The prisoners dilemma is an example of a non cooperative game.
Prisoners Dilemma
The prisoner's dilemma is a common example of a game studied in game theory that demonstrates why two totally rational actors may refuse to cooperate even though it appears to be in their best interests to do so. Merrill Flood and Melvin Dresher framed it in 1950 while working at RAND. Albert W. Tucker formalised the game with prison sentence prizes and dubbed it "prisoner's dilemma," a version of which William Poundstone said in his 1993 book Prisoner's Dilemma as follows: "Two members of a criminal gang are arrested and imprisoned." Each prisoner is in solitary confinement and has no way of communicating with or sending messages to the other.
So, a zero-sum game, a non-zero sum, non-cooperative game is tough to achieve.
Therefore, the correct option is C.
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on november 1, jasper company loaned another company $250,000 at a 12% interest rate. the note receivable plus interest will not be collected until march 1 of the following year. the company's annual accounting period ends on december 31. the amount of interest revenue that should be reported in the first year is:
The amount of interest revenue that should be reported in the first year is $5000 if the Jasper company loaned the other company on November 1 at a 12% interest rate.
To determine the amount of interest revenue that should be reported in the first year, we first calculate the interest amount per year as follows;
Interest amount per year = 250,000 × 12% = 250,000 × 0.12 = $30,000
Now we calculate the interest amount per month as follows;
Interest amount per month = Interest amount per year / 12
Interest amount per month = 30,000 / 12
Interest amount per month = $2500
As the loan started on November 1, in the first year from November 1 to December 31, Jasper company has loaned another company for 2 months.
Therefore;
Interest amount per month × 2 = $5000
Hence, $5000 of interest revenue should be reported in the first year.
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WILL GIVE BRAINLIEST PLEASE ANSWER ASAP 100 POINTS!!!!!!
There are two Images for the questions, some of the work is already done
Answer:
Consumption expenditure on durable goods
Explanation:
Consumption expenditure includes expenditure on goods which are used for final consumption by households. This can be further classified into,
i) Expenditure on durable goods that is goods that can be used over a longer life span such as cars, furniture, refrigerator, etc
ii) Expenditure on non-durable goods that are goods that have a short-life span and thus must be stored for a longer time such as food, clothing, etc
iii) Expenditure on services such as banking, insurance, traveling, etc
Thus, purchase of a new car is included in consumption expenditure on durable goods.
ideally, one should integrate incident management systems with the information or systems used to manage service level agreements, such as target response and resolution times
It is true that ideally, one should integrate incident management systems with the information or systems used to manage service level agreements, such as target response and resolution times.
Incident management systems is designed to manage incidents and how to respond in case of emergency. Whenever an incident management system is designed for any organization, it is necessary that it is integrated with other systems.
This is due to the fact that incident management requires quick response and resolution. If the incident management system is not integrated with other system, it won't be possible to report and response to the incident on time.
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Complete question is
Is it true about incident management system? Ideally, one should integrate incident management systems with the information or systems used to manage service level agreements, such as target response and resolution times
in the context of the supply chain for a product, vendor-managed inventory is a strategy that allows suppliers to determine buyer needs and automatically ship product.
Vendor-managed inventory is a strategy that allows suppliers to determine buyer needs and automatically ship product, so the statement above is true.
Vendor-managed inventory can be defined as an inventory management practice in which a supplier of goods, usually the manufacturer, is responsible for optimizing the inventory held by a distributor. The function of Vendor Managed Inventory is to provide a mutually beneficial relationship where both sides will be able to more smoothly and flow of goods and accurately control the availability.
Vendor managed inventory can be divided into two classes, such as:
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jane, from colorado, is an active skier and describes herself as someone who seeks self-expression. she loves racing down a mountain, and on vacations she often seeks out challenges and thrills of all types. marketers would use this information when incorporating
Marketers will use this information of Jane while incorporating lifestyle segmentation.
Lifestyle Segmentation- A marketing technique called lifestyle segmentation entails dividing client information into smaller groups. These components represent the shopper's preferences, hobbies, dislikes, and regular behaviors. These segments are used by marketers to develop customer personas and tailored advertising campaigns that more adequately describe the wants and demands of their target market.
This tactic is a crucial component of targeted advertising, which is gaining popularity with businesses from all sectors. Age, activity, income, opinions, relationship status, work status, and attitudes are a few of the variables that marketers take into account while lifestyle segmentation.
Here, the hobbies, activities and attitude of Jane will be considered for segmenting the market on the basis of lifestyle.
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Rental cost for offices spaces have been going up at 6. 2% per year compounded annually for the past 5 years. If office space rent is now at a rate of $32 per square foot per month, what were the rental rates 5 years ago?.
If Rental cost for offices spaces have been going up at 6. 2% per year compounded annually for the past 5 years. If office space rent is now at a rate of $32 per square foot per month, The rental rates 5 years ago is $23.69.
Rental rateUsing this formula
A =P( 1 + r/m) ^mt
Where:
A = Amount = $32
P = Principal = ?
n=5 years
rate r= 6.2 %=0.062
Let plug in the formula
32=p(1+0.062)^5
32=p(1.062)^5
P= 32/ (1.062)^5
P = 23.687
P = $23.69 per square foot (Approximately)
Therefore we can conclude that the rental rate is the amount of $23.69 per square foot .
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the objectives of the scene designer do not include multiple choice helping to set the mood and style of the production. developing a design concept. solving practical design problems. assisting in the blocking of the production.
The objectives of the scene designer do not include assisting in the blocking of the production.
Who is Scene Designer ?
The development of theatrical, as well as film or television, scenery is known as scenic design (sometimes referred to as scenography, stage design, or set design). However, in recent years, trained professionals with B.F.A. or M.F.A. degrees in theatrical arts have made up the majority of scenic designers, who come from a variety of artistic backgrounds. Set and scenery designers attempt to complement the production's overall creative goals when creating sets and scenery. Although some people have argued that scenic design is also production design, it is typically seen as a component of a film or television's visual production.
Working with the theatre director and other members of the creative team, the scenic designer is in charge of developing the production's setting. To communicate with other members of the production team, scenic designers are responsible for producing scale models of the scenery, renderings, paint elevations, and scale construction plans. One of the most crucial responsibilities of a scenic designer is explaining the specifics of the scenic environment to the technical director, production manager, charge scenic artist, and prop master.
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question content area buster industries pays weekly salaries of $48,300 on friday for a five-day workweek ending on that day. the adjusting entry necessary at the end of the fiscal period ending on tuesday is
The Workweek Basis of the Act. The workweek of an employee is a defined and repeating period of 168 hours, or seven separate 24-hour periods.
The Fair Labor Standards Act contains the federal overtime provisions (FLSA). Employees covered by the Act shall receive overtime pay at a rate of at least time and a half their usual rates of pay for hours worked beyond 40 in a workweek, unless they are exempt. The Act does not include a cap on the number of hours that individuals 16 and older can work in a given workweek. Unless overtime is worked on such days, the FLSA does not mandate overtime pay for work done on Saturdays, Sundays, holidays, or ordinary rest days.
It can start on any day and at any time of the day; it does not have to begin on the first day of the week. For various employees or employee groups, alternative workweeks may be set. It's not allowed to average hours over two or more weeks. Normally, the regular pay day for the pay period in which the wages were earned is when overtime money received during a specific workweek is paid.
debit Salary Expense, $12,000; credit Salaries Payable, $12,000
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suppose that an anti-smoking campaign in moscow, russia, is successful so that muscovites smoke less and chew gum more. tobacco companies lay off workers, while chewing gum manufacturers employ more workers. this is an example of a. structural unemployment created by efficiency wages. b. frictional unemployment created by efficiency wages. c. structural unemployment created by sectoral shifts. d. frictional unemployment created by sectoral shifts.
This is an example of a frictional unemployment created by sectoral shifts as tobacco companies lay off workers, while chewing gum manufacturers employ more workers.
Sectoral shifts occur as a result of technological changes and changes in the demand for goods, which cause changes in how much labor different industries require. The time spent switching jobs causes frictional unemployment. Frictional unemployment is caused by voluntary job shifts within an economy. Despite a growing, stable economy, frictional unemployment occurs. Workers who decide to quit their jobs in search of new ones, as well as those who enter the labor force for the first time, constitute frictional unemployment.
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true or false: the division of value between the buyer’s share of value captured and the firm’s share of value captured is determined by the cost paid by the firm.
The statement "the division of value between the buyer’s share of value captured and the firm’s share of value captured is determined by the cost paid by the firm" is False
This is further explained below.
What is the division of value?Generally, the business and the buyer haggle over how to divide the value between their respective shares, the buyer's share of value, and the firm's part of the value.
In other words, the distribution of value is determined by the negotiation that takes place between the buyer and the enterprise.
The negotiation that takes place between the company and the customers, as well as the profit that the company makes when selling its product, is partially determined by the price that the customers pay for the product that the company sells.
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Wallace received a 28 percent discount on an item priced at $275. what is the total price that he paid for it? cost after discount = price × (1 â€"" discount percentage) a. $77 b. $198 c. $206
Wallace received a 28 percent discount on an item which is priced at $275. The total price that he paid for it is $198 for item.
Given,
Wallace received a 28 percent discount on an item which is priced at $275.
Cost after the discount = price × (1 – discount percentage)
Price = $275
Discount percentage = 28%
As the percentage is written in the decimal form.
= 28 / 100
= 0.28
Here, we will subsititute the given values.
Cost after the discount = $275 × (1 – 0.28)
= $275 × 0.72
= $198
Hence, Wallace paid $198 for the item purchased.
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A factory owner wants his workers to produce as many widgets as they can so he pays his workers based on how many widgets they produce. however, in order to make sure that the workers do not rush and produce a large number of poorly made widgets, he checks the widgets at random at various stages of their manufacture. If a defect is found in a widget, the pay of the entire section of the factory responsible for that defect is docked. How is this factory owner seeking to solve the agency conflict problem in this case?.
The factory owner seeking to solve the agency conflict problem in this case by supplying incentives so the agents act in the way principal desires.
Any relationship where one person is expected to behave in the best interests of the other has an inherent conflict of interest known as an agency problem. A conflict of interest between a company's management and its stockholders is referred to as an agency problem in corporate finance.
Enron is a particularly well-known illustration of the agency issue. The directors of Enron were required by law to safeguard and advance the interests of investors, but they lacked many other incentives to do so.
Any organisation, group, place of worship, or organisation run by the government could have this issue. Stockholders vs. management and stockholders vs. bondholders are two of the three types of agency issues.
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The complete question is ''A factory owner wants his workers to produce as many widgets as they can, so he pays his workers based on how many widgets they produce. However, in order to make sure that the workers do not rush and produce a large number of poorly made widgets, he checks the widgets at random at various stages of their manufacture. If a defect is found in a widget, the pay of the entire section of the factory responsible for that defect is docked. How is this factory owner seeking to solve the principal - agent problem in this case?
A. By making the agents into principals themselves
B. By ensuring that all workers co - operate to maximize the gains of their section
C. By maximizing the information that the principal obtains about the behavior of the agents
D. By supplying incentives so the agents act in the way principal desires
with the five forces model, companies should watch the forces in the market. if the forces are strong competition generally increases and if the forces are weak competition typically decreases. group of answer choices true false
It's true that businesses should keep an eye on market forces when using the Five Forces Model. Competition normally grows when the forces are strong and diminishes when the forces are moderate.
What Are the Five Forces of Porter?
An industry's vulnerabilities and strengths can be ascertained using Porter's Five Forces, a model that identifies and examines five competitive forces that affect every industry. The structure of an industry is typically identified using the Five Forces analysis to develop company strategy.
Any sector of the economy can benefit from using Porter's model to better analyze industry rivalry and increase long-term profitability. After Michael E. Porter, a professor at Harvard Business School, the Five Forces concept was created.
Porter's five forces are:
There is conflict in the sector.Potential for new competitors to enter the marketInfluence of suppliersInfluence of consumersReplacement product riskThe limitations of the Five Forces model are exacerbated by the effects of globalization, notably the fact that it is backward-looking and its findings are largely only relevant in the short term. Another significant flaw in the framework is the propensity for using it to evaluate a single company rather than a whole industry, which is what it was designed for.
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havermill company establishes a $340 petty cash fund on september 1. on september 30, the fund is replenished. the accumulated receipts on that date represent $82 for repairs expense, $155 for merchandise inventory, and $31 for miscellaneous expenses. the fund has a balance of $72. on october 1, the accountant determines that the fund should be increased by $68. the journal entry to record the reimbursement of the fund on september 30 includes a: multiple choice credit to cash for $72. credit to merchandise inventory for $155. debit to repairs expense for $82. credit to cash for $340. debit petty cash for $268.
The Journal entry for reimbursement of the Petty cash fund on September 30 will be (c) Credit to cash 340.
The basic journal entry for establishing petty cash fund is-
Petty cash account Dr. $340
To Cash account $340
A petty cash fund is a tiny amount of company cash that is commonly kept readily available (for example, in a locked drawer or box) to pay for minimal or incidental expenses such as office equipment or employee compensation. It is mainly available for day-to-day small expenses that are very regular in nature.
A petty cash fund will be resolved on a routine basis, and payments will be documented on the income statement. So, every department in a big organization could have its own petty cash fund to manage small expenses. Certain internal systems can be circumvented by employing a petty cash fund. However, the existence of petty cash doesn't really imply that it can be employed for whichever reason by anyone. To handle the money, many businesses use stringent internal control systems.
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companies are required to highlight certain items in the financial statements so that users can better determine the long-run earning power of the company.
Answer:
These highlighted things could be non current assets that depreciated, huge loans and capital and drawings. Please justify your question more as I don't see a question.
tom started a business selling footballs. before filing articles of incorporation, he arranged for a bank loan and hired three people to run his store. tom is known in corporate law as a/an multiple choice preincorporater. private holder. installer. promoter.
Tom is referred to as a promoter in corporate law.
A promoter is the founding member or organizer of a corporation or business venture in corporate law; the individual who takes the initiative to start or organize a business. The phrase is most commonly heard in the context of incorporation. A promoter would carry out the actions required to incorporate the business venture. A promoter in business law is either a contractual organizer or a shareholder within the organization. The term "promoter" is not defined in the law.
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mac power bought intel stock for $32 a year ago and has received $1.09 in dividends. intel's current price is $36 a share. what is mac's rate of return if he sells intel at the current price?
The rate of return that the intel would have to sell if it is at the current price would be given as 15.91%.
How to solve for the rate of returnWe have the following details to solve the problem with
The mac power bought intel stock for $32
The amount of dividend that has been received is given as $1.09
The current price of the intel is given to be $36 a share.
Next we have to solve for the rate of return of Mac
The formula for the rate of the return is given as Total receipts/Total investments – 1
Where the total receipts is $36 + $1.09
The investment is $32
Then when we fill in the values we would have
37.09 / 32 - 1
= 1.1590625 – 1
= 0.1590625
This can be written in percentage as 15.91%
Therefore the rate of return of the mac product is given to be 15.91%
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which product exists in a monopolistically competitive market?
Numerous businesses provide competitive products or services that are similar but not exact substitutes. A monopolistic competitive market is present.
Clothing and hair salons are two examples of sectors with monopolistic competition. When businesses provide rival goods or services that are comparable but imperfect substitutes, monopolistic competition exists.
A monopolistic competitive industry has low entry requirements, and decisions made by any one firm do not directly affect those of its rivals. The pricing and marketing choices made by the rival companies serve as their points of differentiation.
Between a monopoly and perfect competition, monopolistic competition exists, combines aspects of both, and includes businesses with comparable but distinct product offerings.
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Answer:
clothing
Explanation:
I learn today that monopolistically competitive is something with varity like cloths there are plenty of options
green oval electronics employs approximately 2,700 employees. during a recent workforce survey, it was found that 97 percent of the company's managers are white, although only 62 percent of the company's entire workforce is white. the company decided to implement a voluntary affirmative action plan that would reserve 25 percent of the openings in a managerial development program for blacks and other minorities, only until the percentage of minority employees working as supervisors was representative of the percentage of available minorities in the local labor force.
This affirmative action plan is legal because it is temporary and does not unnecessarily infringe on the rights of white employees.
For federal contractors and subcontractors, affirmative motion ought to be taken by using included employers to recruit and strengthen qualified minorities, girls, individuals with disabilities, and included veterans. Affirmative actions include schooling packages, outreach efforts, and different advantageous steps.
Affirmative movement goals to proper historical wrongs by means of favoring described agencies of individuals that were discriminated in opposition to within the past.
As instance, a company may publish jobs in regions with high numbers of minority activity seekers to reach those under-represented applicants.
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What's the BEST way to make sure that marketing copy uses conversational language? Question 19 options: Use quotations around every statement. Run it through a spell-checker. Read it out loud. Use sophisticated, pompous-sounding language.
The best way that would be used to show that the marketing copy makes use of conversational language would be to Use quotations around every statement.
What is a conversational language?This is the term that is used to refer to the language or the words that are made use of in everyday communication. It is the type of communication that has to do with the language that people would use with their peers as well as when they go through certain activities like when they are shopping.
The use of the conversational language would be done here by running it around a spell checker.
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in 2021, madden, who is single, has adjusted gross income of $145,200, uses the standard deduction of $12,550, and has $132,650 of taxable income. compute the following for madden.
Answer:
a)Federal Income Tax Liability = $25,857
b)Statutory Tax Rate = 10%, 12%, 22%, and 24%
c)Marginal Tax Rate = 24%
d)Average Tax Rate = 19.5%
e)Effective Tax Rate = 17.8%
Explanation:
a.)Federal Income Tax Liability = $14,751 + 24% x ($132,650 - $86,375)
Federal Income Tax Liability = $14,751 + $11,106
Federal Income Tax Liability = $25,857
b.)Statutory Tax Rate = 10%, 12%, 22%, and 24%
c.)Marginal Tax Rate = 24%
d)Average Tax Rate = Total Tax Liability / Total Taxable Income
Average Tax Rate = $25,857 / $132,650
Average Tax Rate = 19.5%
e)Effective Tax Rate = Total Tax Liability / Adjusted Gross Income
Effective Tax Rate = $25,857 / $145,200
Effective Tax Rate = 17.8%
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The preparation of isopentyl acetate by the method used in this experiment is an equilibrium reaction. Equilibrium must be shifted to the right-hand side because the reaction does not favor formation of the product. What method is used to accomplish this?.
Fischer Esterification is used to accomplish the preparation of isopentyl acetate which is an equilibrium reaction.
What is Fischer Esterification?Unlike other esterification pathways, the Fischer esterification involves an equilibrium process. It is common practice to employ an excess of one of the reactants, either the acid or the alcohol, to change the equilibrium in a way that favors the synthesis of esters. Because acetic acid is less expensive and easier to remove than alcohol, we shall utilize an excessive amount of it in the current reaction. Removing one of the products as it forms is another approach to cause a reaction to its products. By adding silica beads directly to the reaction vessel and utilizing a drying tube with a drying agent (calcium chhioride), which prohibits the admission of moisture into the reaction, we will eliminate the water created in the reaction in this experiment.Learn more about Fischer Esterification here:
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danielle wants to expand her business and use the 10 acre property she owns and rents to a local sheep rancher for $10,000/year, to build a mall for $4 million. danielle’s total economic costs of the expansion plan are group of answer choices the foregone $10,000/year from the sheep rancher. the $4 million cost of the mall construction and its fixed costs. the $10,000 in foregone rent and the $4 million cost of the mall. all costs as reported by danielle’s accountant.
Danielle's total economic costs are the $10,000 in foregone rent and the $4 million cost of the mall.
What is the total economic cost?
Economic costs is the sum of the explicit cost and the implicit cost.
Explicit cost is the actual cost incurred in carrying out an activity. An example of an explicit cost is the cost of building the mall. Implicit cost is the cost of the next best option that is forgone when one option is chosen over other options. Explicit cost is also known as opportunity cost.
In accounting, only explicit cost is considered when calculating costs. Thus, Danielle's accountant would only report explicit cost which is the cost of building the mall. While in economics, both explicit cost and implicit cost are considered.
Economic cost = explicit cost + implicit cost
4 million + $10,000
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