Answer:
3. Correctly ignored a sunk cost
Explanation:
Sunk costs refer to those costs which have been incurred in the past and which can no longer be recovered. For example, past expenditure on research and development with no current or future benefits represent sunk costs which can no longer be recovered.
Sunk costs are irrelevant for decision making process as they do not relate to current projects and yield no economic benefit.
In the given case, Manuel had already purchased a $10 movie ticket, which can neither be transferred nor eligible for a refund. Later when he does not exercise the option of going for the movie and opts for a concert instead, the amount of 10$ spent on the movie represents a sunk cost which is non recoverable.
let the customer drink it?
Answer: Management
Explanation:
The management is one of the type of organization that manage the various types of business activities for the purpose of achieving the goals and the following are some main function of the management are as follows:
- Controlling the system
- Planning the overall function
- Organizing
According to the given question, the selection of the inventory cost flow in the system by the company then it is known as the management as it handles all the inventory business of the various types of products and the services in the management.
Therefore, Management is the correct answer.
Answer:
A) less of a public good than would be efficient.
Explanation:
The main characteristic of free markets is that the private participants (suppliers and consumers) decide how to allocate resources. They allocate resources in a way that their utility is maximized: suppliers maximize their profit while consumers maximize satisfaction. The problem with private goods is that they do not maximize profits for the suppliers, therefore, very few or no suppliers are willing to supply them resulting in a shortage.
Answer:
B) Demand for concert decreases. As a result of the shift, ticket price decreases.
Explanation:
A shift in demand that is as a result of other factors except for price results in a shift of demand. A reduction of price as a result of the financial crises will lead to a shift of demand to the left.
Demand for cinema tickets will reduce at all price level.
Referring to the attached diagram the demand shift will result in lower quantity demanded from Q to Q2.
Also there is a reduction of equillibrum price from P to P2.
