Answer:
Janet's opportunity cost of making a pizza is <u>0.67 gallons</u> of root beer, and Megan's opportunity cost of making a pizza is <u>0.71 gallons</u> of root beer.
<u>Janet</u> has an absolute advantage in making pizza, and <u>Janet</u> has a comparative advantage in making pizza.
If Janet and Megan trade foods with each other, <u>Janet</u> will trade away pizza in exchange for root beer. The price of pizza can be expressed in terms of gallons of root beer. The highest price at which pizza can be traded that would make both roommates better off is <u>0.71 gallons</u> of root beer, and the lowest price that makes both roommates better off is <u>0.67 gallons</u> of root beer per pizza.
Explanation:
Janet's opportunity cost to brew a gallon of root beer = 3/2 = 1.5 pizzas
Janet's opportunity cost to make a pizza = 2/3 = 0.67 gallons of root beer
Megan's opportunity cost to brew a gallon of root beer = 7/5 = 1.4 pizzas
Megan's opportunity cost to make a pizza = 5/7 = 0.71 gallons of root beer
Opportunity costs are extra costs or benefits lost that result from choosing one activity or investment over another alternative. E.g. in this case, Janet can either make 1.5 pizzas or 1 gallon of root beer during a 3 hour period, but she cannot make both of the together. She must choose one or the other.
Answer: norming
Explanation:
The third stage of a group development model is regarded to as the norming stage. The norming stage is the stage whereby members or teammates start appreciating the strengths that are possessed by each other in the team.
At this stage, there is resolution of conflicts and establishment of leadership positions. Here, everyone is happy with their roles.
Answer:
The most suitable answer here is D. Concurrent Control.
Explanation:
Concurrent control is also known as preventive controls and steering controls where the aim of the control procedure is to identify the possible flaws of a process and to prevent them before occurring.
Furthermore, in this scenario as you can see, Donald consults production manager and formulates measures as the process is ongoing. This makes it more of a "concurrent control" as well.
So Why did we not use any of the other options?
Option A, reactive controls is incorrect in this case, because reactive measures are completely spontaneous actions that respond to an accident.
Option B is incorrect too, because feedback controls are done after a process has been completed and through identification of falls happened.
Option C, feed forward controls are not correct in this scenario as well. Although it is a type of preventive control, in this scenario it is not entirely preventive. They are formulating measures even as the process is ongoing.
Answer:
D. All of these alternatives are correct.
Explanation:
Chi square distribution is the cumulative probablity distribution. It provide probablity of every possible value. Chi square distribution is depend on degree of freedom and degree of freedom is calculated by subtracting 1 from the number of category from the data collected. It is used to check goodness of fit of an observed data, the independence of two categorical variables, it is also used in hypothesis testing and confidence interval for population variance.
<u>Answer:
</u>
From these comments, it is clear that Senator Higdon does not accept the "invisible hand" idea brought forth by Adam Smith.
<u>Explanation:
</u>
- Senator Jimmy Higdon is himself a businessman by profession and bears immense knowledge of the market and its functioning.
- The ideology that Senator Higdon seems to believe in is that of apparent factors that run the business and cause it to earn profit which eventually culminates in the fulfillment of other activities associated with the business.
