Example-implicitly-weighed marginal costs-marginal benefits
Cite three example of recent decisions which you made in which you, at least implicitly, weighed marginal costs & marginal benefits.
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It may comprise the decision to come to class, to skip breakfast to obtain a few extra minutes of sleep, to attend college or university, or to make a purchase. Marginal benefits of attending class may comprise the acquisition of knowledge, participation in discussion, and better preparation for an upcoming assessment. Marginal costs may comprise lost opportunities for meals, sleep or studying for other classes. In evaluating the discussion of marginal benefits & marginal costs, be careful to watch for sunk costs offered as a rationale for marginal decisions.
Bill: It is a draft of proposed law represented to the Legislature for performance. (A bill has bigger legal formality and standing than a resolution.) OR An invoice, or document statement, of an amount owing for s
Compare and contrast the book value & liquidation value per share for common stock. Is one method more reliable? Describe.The Book Value of a firm's common stock is found by subtracting the value of the firm's liabilities, and preferred stoc
Performance Budget: A budget in which proposed expenditures are prepared and tracked mainly by measurable performance objectives for actions or work programs. The performance budget might also incorporate other bases of expenditure categorization, lik
The Audiology Department at Randall Clinic offers many services to the clinic’s patients. The three most common , along with cost and utilization data, are as follows: Service Variable cost per service Annual Direct Fixed cost Annual Number of Visits Basic Examination $5. $50,000 3,000 Advanced
May Revision: The annual update to the Governor’s Budget having a revised estimate of General Fund revenues for the present and ensuing fiscal years, any proposals to adjust expenditures to reflect the updated revenue estimates,
Legislative Information System (LIS): An on-line system formed and employed by the Department of Finance to maintain existing information regarding all bills introduced in the Assembly and Senate for the current 2-year session, and fo
Briefly describe the terms proprietorship, partnership, and corporation.A proprietorship is a business owned by one person. Two or more people who join together to develop a business make up a partnership. It can be done on an inf
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Define operating leverage effect and what causes it? Describe potential benefits and negative consequences of high operating leverage? The operating leverage effect is the phenomenon where a small change in sales triggers a comparatively large
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