Computing opportunity cost of producing textiles rather food
Country C is able to generate seven pounds of food or four yards of textiles per unit of input. Calculate the opportunity cost of producing food rather than textiles. Also, compute the opportunity cost of producing textiles rather than food.
Expert
The opportunity cost of producing food rather than textiles is one yard of textiles per 7/4 = 1.75 pounds of food. The pound of food has an opportunity cost of 4/7 = .57 yards of textiles.
Accountancy is the process of communicating financial information about a business entity to users such as shareholder and manager. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in s
List the benefits of investing through the international mutual funds?
Describe the function of budgetary control play in cost control? And also write down the requirements for its triumphant execution?
Prepare journal entry to record acquisition of four assets
What is Bankers acceptance and what is its role?
State why is capital budgeting analysis so imperative for the firm?
What does Balance per bank signify?
Capital: In easy word, capital signifies the amount or asset that is invested in business by businessman or owner of business. Whenever the business is closed, after paying exterior creditors, balance amount will be his capital that he can attain.
What are the various causes of decreasing of Gross profit margin?
Describe basic differences between operation of a currency forward market and a futures market.
18,76,764
1932838 Asked
3,689
Active Tutors
1418760
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!