The company that you manage has invested $5 million in developing a new product, but the development is not quite finished. At a recent meeting, your salespeople report that the introduction of competing products has reduced the expected sales of your new product to $2 million. If it would cost $4 million to finish development and make the product, you    go ahead and do so. The most you should pay to complete development is million.

Q: Buying and selling textbooks are two separate decisions made at the margin. Textbooks create value…

A: Consumer surplus refers to the difference between the actual amount paid by the consumer and the…

Q: Buying and selling textbooks are two separate decisions made at the margin. Textbooks create value…

A: Buying and selling are the main activities of the market, buying means you are selling something at…

Q: Why is affluence a liability? Give an example.

A: A liability is anything incurred by an entity or business, typically a quantity of funds.…

Q: Condition that arises because society does not have enough resources to produce all the things…

A: There are mainly three economic problems dealt by each nation. These problems are stated below: a)…

Q: The company that you manage has invested $5 million in developing a new product, but the development…

A: given information is that, i have invested 5 million already and now the expected sales of new…

Q: Describe the straight-line method?

A: According to the straight-line method of depreciation, the equal amount of depreciation is allocated…

Q: The opportunity costs of the firm using its own funds are measured by the

A: The opportunity cost is the best alternative use of a resource. It is the value of what one has to…

Q: Rational decision making requires that

A: Rational decision making requires what :

Q: True or False: Households sell finished products to businesses.

A: Circular Flow Model describes how an economy works. It analyses the manner in which an economy flows…

Q: Services are tangible product; activities provided by other people, such as doctors, dentists,…

A: In economics, goods are objects that are obtained at the end of the production process. A producer…

Q: Scarcity is a condition that exists when there is a fixed supply of resources relative to the demand…

A: Economics is a social science that discusses human behavior regarding their unlimited wants in terms…

Q: Potential output is the most that can be produced in an economy at a particular point in time.…

A: Potential output is the highest level of output, an economy can sustainably produce and sell using…

Q: Which of the following is not something you need to consider when planning for retirement how much…

A: The consumption smoothing is an important concept in consumer behaviour where an individual…

Q: People invest because they want to make money. True or false

A: Investment in anything has some purpose and expectation of positive return in terms of income or…

Q: Paying for sneakers using a credit card is an example of a person borrowing

A: A credit card refers to a thin rectangular piece of plastic or metal card issued by financial…

Q: Individuals who come up with a new idea for a good or service, then they make it a reality are…

A: Entrepreneurial economics is a branch of economics that deals with the entrepreneurs and their…

Q: When you invest your money in the stock Market, the original investment is called the…

A: When an individual earns income by serving as labor or employee, he has two ways to use that income,…

Q: Economics helps managers understand goal-oriented decision making.

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: John leaves school with almost no qualifications. He has decided that he would like to work as…

A: Competency-based recruitment is a method of hiring that is based on a candidate's ability to provide…

Q: in a capitalist market economy, the decision to save is made by the same people who make the major…

A: The capitalist market is the market that is run by private individuals or business own capital…

Q: Describe the partners of an organization and Business models that alternate strategies and concepts…

A: Business models and organizations have partners and collaborate for the expansion of business.…

Q: Applying innovation and creativity is a process that are identified as _________________ a.…

A: An entrepreneur is a person who organises and manages a business by taking greater financial risks…

Q: Based on the Customer Social Responsibility program, what are other areas that you think need…

A: Customer Social Responsibility program is a conscious business model aiming at making firms more…

Q: In contrast to manufacturing, agricultural production is stochastic, which implies that [Select one]…

A: The word "stochastic" means "random", or something which cannot be predicted with certainty. A flow…

Q: Can an accountant be a good economist?

A: Economics and accounting both involve a lot of number crunching. An accountant is a profession of…

Q: in what will happen to the

A:

Q: world is gradually turning into a cashless world.   To what extent will a cashless lifestyle…

A: Yes. Many of the economies are turning towards digital cash. This solves majority of the problems…

Q: objectives of decision making units of economics

A: There are 3 decision making units in the economy: Households Firms Government

Q: Firms raise capital by:

A: The meaning of raising capital is the funds which investor or a lender gives for either starting a…

Q: The company that you manage has invested Php. 5 million in developing a new product, but the…

A: The sunk costs refer to the money already spent by a company and these costs cannot be recovered.…

Q: Many clothing stores purchased new fashions from clothing manufacturers back in the Fall, expecting…

A: Here the main concept is inventory management and scope of inventory because if the retailers keep…

Q: To be economically successful, the entrepreneur must combine resources in a manner that increases…

A: The motive of an entrepreneur is to maximize the profit while minimizing the cost of production.…

Q: Buying and selling textbooks are two separate decisions made at the margin. Textbooks create value…

A: Consumers' surplus is a proportion of consumer government assistance and is characterized as the…

Q: The company that you manage has invested $5 million in developing a new product, but the development…

A: The given info is that I even have invested with five million already and currently the expected…

Q: How does inherent value differ from instrumental value?

A: Inherent value and instrumental values are a part of the the environmental economics. They are used…

Q: A student stops studying before the point at which her marginal benefits of studying equal her…

A: The equilibrium point of studying will achieve at point where marginal cost of studying is equal to…

Q: Investment goals are based on your plans for the past. True or false

A: Investment Refers to the asset or item acquired with the goal of generating or appreciation.

Q: involves à specific policy alternative, because it uses subjective, ethical, or moral judgments in…

A: Behavioral Economics: Behavioral Economics can be defined as the study of the elements of Economics…

Q: Design an Ethical Organization, the "tone at the top" is a much more significant driver of…

A: Answer Explanation: According to the HBR article, “Most leaders intuitively acknowledge the…

Q: True or False: If you make sound financial decisions, you'll be able to live within your means. True…

A: Sound financial decisions are very important for a healthy and risk free life. It includes, making…

Q: Give three elements of innovation

A: In economics, innovation refers the development, and application of idea and technology that improve…