Please assist with question 2a(ii) Question 2a (i).A snowboard company currently hires 10 skilled employees who are paid a weekly wage of $1,000. The cost ofcapital is $3,000 and it is fixed, which means that it does not vary with output. The company is currentlyproducing 240 snowboards. The company's cost will be $13,500 if it produces an additional snowboard. Acustomer is willing to pay $550 for the 241st snowboard.Should the company produce and sell it? (YES/NO) Price greater than MC +Choose.Price greater than MCPrice less than MCExplain.Price equal MCNoQuestion 2a (ii)Yes Question 2a (ii)What core principles should be considered in the snowboard company's decision making?) Scarcity, Choice and Opportunity Cost(i) Cost-Benefit analysis(ii) Incentive Principle(iv) Diminishing ReturnsSelect one:O All principles are consideredO ) onlyO ()(i) onlyO (), (i) and (ii) onlyO (i) and (ii) only) and (iv) onlyO Gi) and (iv) onlyO Cii) and (iv) only(i), (i) and (iv) only

As per the instruction given, Only 2a(ii) is answered.

Question 2a (ii) What core principles should be considered in the snowboard company's decision making? () Scarcity, Choice and Opportunity Cost (ii) Cost-Benefit analysis (ii) Incentive Principle (iv) Diminishing Returns Select one: O All principles are considered O ) only O ) and (ii) only O ). (i) and (ii) only O (i) and (i) only O ) and (iv) only O (i) and (iv) only O (ii) and (iv) only O (i), (ii) and (iv) only

Question 2a (ii) What core principles should be considered in the snowboard company's decision making? () Scarcity, Choice and Opportunity Cost (ii) Cost-Benefit analysis (ii) Incentive Principle (iv) Diminishing Returns Select one: O All principles are considered O ) only O ) and (ii) only O ). (i) and (ii) only O (i) and (i) only O ) and (iv) only O (i) and (iv) only O (ii) and (iv) only O (i), (ii) and (iv) only

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 15P

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