Distinction between explicit and implicit costs

Assignment Help Business Management
Reference no: EM131218540

1. Explain why the enrollment in colleges and universities increases at times of economic recession. Make a distinction between explicit and implicit costs in your explanation

2. Use the following production possibilities table to draw the corresponding production possibilities curve (PPC) for a given economy.

Options

Food

Clothing

A

0

28

B

1

26

C

2

22

D

3

16

E

4

9

F

5

0

a) Find the opportunity cost of producing each unit of food in terms of clothing.  Explain its pattern.

b) Assume we are currently producing 6 units of clothing and 4 units of food.  Plot this point and interpret it economically.

c) What is the optimum production of output when food sells for $12 a unit and clothing for $3.  Explain why you choose this point.

Reference no: EM131218540

Questions Cloud

Explain how voter turnout is measured : Describe the characteristics and functions of American political parties.
Describe why use of deception can be considered acceptable : Describe why the use of deception can be considered acceptable while some of the classic research methods are not. Provide examples when applicable. 250 words
Draw the demand for garbage : a. Draw the demand for garbage (include the MC of the service). b. How many units of garbage are collected? 1. What is the total value of the service and the value of the bag thrown out with the lowest value?
Why principles-based standard require a conceptual framework : Explain why principles-based standards require a conceptual framework. What you think is the fundamental problem with financial statements based upon the historic cost measurement principle used under US GAAP ? The article states that the US standard..
Distinction between explicit and implicit costs : 1. Explain why the enrollment in colleges and universities increases at times of economic recession. Make a distinction between explicit and implicit costs in your explanation
What maria did was so simple : What Maria did was so simple, yet her example is not common in our business, no matter what sector you are exposed to. If you were the manager overseeing Maria's room service department, how would you motivate the rest of the room service team to ..
What stores are in your town and what are your favorite : What restaurants are in your town? which are your favorite? What stores are in your town. what are your favorite? What restaurant or store do you wish was in your town but isn't there?
Design a compensation and benefits package : Rationalize your performance appraisal program. Be sure to indicate the research and considerations that went into the design of the performance appraisal program.
Analyzes the managerial operational and financial issues : Analyzes the basic legal, social, and economic environment in which the organizations operate. Analyzes the managerial, operational, and financial issues impacting the organizations including.

Reviews

Write a Review

Business Management Questions & Answers

  How do you compare and contrast this matrix of choice to bcg

Grand strategy matrix - explain this matrix' advantage and disadvantage and how do you compare and contrast this matrix of choice to BCG?

  Developing and managing productsyou are a marketing manager

developing and managing productsyou are a marketing manager for nike. your department has come up with the idea of

  Potential real property issues

What are potential real property issues that could arise from a family farm with a business on it. To give an example if Bill and Mary had a farm and on that farm was a store. They also have a son, John, living on the farm with his wife Petie and ..

  Company stage of development

You and the VC agree that your venture is currently worth $3 million and that, when the company goes public in an IPO five years hence, it will have an expected market capitalization of $20 million. Given the company's stage of development, the VC..

  Three examples of key strategic alternatives

Provide and discuss at least three examples of key strategic alternatives that are available to health care organizations today but were not available to them 20 years ago.

  Define financial data and social security numbers

Assume that you work in a large accounting firm that handles hundreds of client accounts containing confidential information, financial data, and social security numbers. Your firm conducts audits and prepares tax returns, all of which involve com..

  Illustrate what is the critical path for the project

Illustrate what is the critical path for the project? Based on the schedule would you recommend that G&E pursue this contact? Explain why? Comprise a none-page Gantt chart for the stadium schedule.

  Examples of projects that have gone off course

There are many examples of projects that have gone off course. Often times, a new project manager is brought in if the situation is dire. For this assignment, find a project that did not stay on scope, time, or budget.

  Communicate competently in an organization

1. An employee's experience or culture might lead him to move or change jobs frequently. 2. In order to communicate competently in an organization, members must learn to communicate more informally than in other contexts.

  Question related to interpersonal communication

Part of the management track is about developing effective interpersonal communication.

  What is the bond market predicting about rate of inflation

Current yield on 10 year and 30 year U.S. treasury securities are 2.57% and 3.28% respectively. Using equation 5-6 on pages 206 to 207. Assume the default risk premium (DRP) and liquidity premium (LP) are zero.

  Explain financial management risk to the new staff

Explain financial management risk to the new staff. Using the library and other credible sources, respond to the following regarding factors of financial risk:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd