Explanation:
It is correct to say that Addison's manager made the mistake of delegating responsibility to an employee without adequate authority. In this case, the manager should acknowledge his mistake and formalize his request in the form of a signed memorandum so that the departments could provide the information he needed knowing that it had been requested by an authoritative employee, the trainee being only the transmitter of the information. manager's message.
People are often involved in different activities. In the context of this situation, Addison's manager made the mistake of delegating responsibility without adequate authority.
A person that has been given a particular role must make sure to finish or accomplishes the tasks given to him. When a tasks is not completed, it makes one to give explanations or excuses.
When Responsibility is without adequate authority, this can result to discontent and dissatisfaction among people..
When one delegate responsibility, do ensure that the person set is accountable and also empower them with the right measure of authority.
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To calculate compound interest earnings, the formula requires that you know the amount of principal, the number of time periods, and
O the age of the depositor
O the amount of bank fees
o the interest rate
O the inflation rate
Answer:
the interest rate.
Explanation:
Compound interest is generally calculated based on the interest rate on a loan, principal and the accumulated interest gained from previous periods.
This ultimately implies that, to calculate compound interest earnings, the formula requires that you know the amount of principal, the number of time periods, and the interest rate.
To find the future value, we use the compound interest formula;
[tex] A = P(1 + \frac{r}{n})^{nt}[/tex]
Where;
A is the future value.
P is the principal or starting amount.
r is annual interest rate.
n is the number of times the interest is compounded in a year.
t is the number of years for the compound interest.
Which of the following statements is correct concerning liability when a partner in a general partnership commits a tort while engaged in partnership business? A. The partner committing the tort is the only party liable. B. The partnership is the only party liable. C. Each partner is jointly and severally liable. D. Each partner is liable to pay an equal share of any judgment.
The statement is correct concerning liability when a partner in a general partnership commits a tort while engaged in partnership business that is "each partner is jointly and severally liable". The correct option is C.
In a general partnership, each partner shares joint and several liability for the actions and liabilities of the partnership.
If a partner commits a tort while engaged in partnership business, the injured party can hold the partnership and all individual partners personally liable for any resulting damages.
This means that the injured party can choose to pursue a claim against the partnership as a whole or against any individual partner or a combination of partners, depending on their preference or ability to satisfy the judgment.
Therefore, the correct option is C.
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_____ is the process for reviewing key roles and determining the readiness levels of potential internal and external candidates to fill these roles.
a.
Performance management
b.
War for talent
c.
Succession planning
d.
Talent review calibration process
e.
Talent acquisition
If the coupon interest rate remains constant from the time of issue until the bond matures, then the bond is called afixed-rate bond. The contract that describes the terms of a borrowing arrangement between a firm that sells a bond issue and the investors who purchase the bonds is called the . When are issuers more likely to call an outstanding bond issue
Answer:
If the coupon interest rate remains constant from the time of issue until the bond matures, then the bond is called a FIXED-RATE bond.
A fixed rate bond will see its coupon interest rate remain the same during the entire duration of the bond.
The contract that describes the terms of a borrowing arrangement between a firm that sells a bond issue and the investors who purchase the bonds is called the INDENTURE.
An indenture in the context of a bond is a legal agreement that states the terms that the investors and the bond issuer will abide by which makes it a borrowing arrangement.
When are issuers more likely to call an outstanding bond issue?
a. When interest rates are lower than they were when the bonds were issued.
When interest rates are lower, issuers are more likely to call a bond so that they can be able to reissue another bond at a lower interest which would then reduce their interest payments.
The controller of Hendershot Corporation estimates the amount of materials handling overhead cost that should be allocated to the company's two products using the data that are given below:Wall Mirrors Specialty WindowsTotal expected units produced 12,900 1,500Total expected material moves 1,290 1,400Expected direct labor-hours per unit 9 12The total materials handling cost for the year is expected to be $16,754.50.If the materials handling cost is allocated on the basis of direct labor-hours, the total materials handling cost allocated to the wall mirrors is closest to: (Round your intermediate calculations to 4 decimal places.)Multiple Choice
Answer:
$14,506
Explanation:
Calculation to determine what the total materials handling cost allocated to the wall mirrors is closest to:
First step is to calculate Material handling cost per labor hour
Material handling cost per labor hour = $16,754.50 / [(12,900 * 9) + (1,500 * 12)]
Material handling cost per labor hour =$16,754.50/(116,100+18,000)
Material handling cost per labor hour = $16,754.50/134,100
Material handling cost per labor hour =0.124940
Now let calculate the Materials handling cost allocated to wall mirrors
Materials handling cost allocated to wall mirrors = 12,900 *9*0.124940
Materials handling cost allocated to wall mirrors = $14,506
Therefore the total materials handling cost allocated to the wall mirrors is closest to:$14,506
Planner Corporation owns 60 percent of Schedule Company’s voting shares. During 20X3, Planner produced 25,000 computer desks at a cost of $82 each and sold 10,000 of them to Schedule for $94 each. Schedule sold 7,000 of the desks to unaffiliated companies for $130 each prior to December 31, 20X3, and sold the remainder in early 20X4 for $140 each. Both companies use perpetual inventory systems. Required: a. What amounts of cost of goods sold did Planner and Schedule record in 20X3?
Answer:
Cost of Goods sold for Planner:
= Goods sold * Cost to produce
= 10,000 * 82
= $820,000
Cost of Goods sold for Schedule:
= Goods sold * Cost of acquisition
= 7,000 * 94
= $658,000
Sunrise, Inc., has no debt outstanding and a total market value of $245,000. Earnings before interest and taxes, EBIT, are projected to be $19,000 if economic conditions are normal. If there is strong expansion in the economy, then EBIT will be 25 percent higher. If there is a recession, then EBIT will be 40 percent lower. The company is considering a $58,800 debt issue with an interest rate of 8 percent. The proceeds will be used to repurchase shares of stock. There are currently 5,000 shares outstanding. The company has a tax rate of 21 percent and the stock price remains constant.
a-1. Calculate earnings per share, EPS, under each of the three economic scenarios before any debt is issued. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
a-2. Calculate the percentage changes in EPS when the economy expands or enters a recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
b-1. Calculate earnings per share, EPS, under each of the three economic scenarios assuming the company goes through with recapitalization. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
b-2. Given the recapitalization, calculate the percentage changes in EPS when the economy expands or enters a recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
Answer:
hi
Explanation:
In a Lindahl equilibrium: Group of answer choices no one could be made better off by reducing his or her tax burden, all things equal. most but not all individuals are happy to pay their taxes to receive the benefits. the government must subsidize the project by using nontax financing schemes. everyone is willing to pay the taxes to receive the benefits.
Answer:
everyone is willing to pay the taxes to receive the benefits.
Explanation:
Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.
The different types of tax include the following;
1. Income tax: a tax on the money made by workers in the state. This type of tax is paid by employees with respect to the amount of money they receive as their wages or salary.
2. Property tax: a tax based on the value of a person's home or business. It is mainly taxed on physical assets or properties such as land, building, cars, business, etc.
3. Sales tax: a tax that is a percent of the price of goods sold in retail stores. It is being paid by the consumers (buyers) of finished goods and services and then, transfered to the appropriate authorities by the seller.
A Lindahl equilibrium can be defined as an economic state in which there is a production of an optimal quantity of public goods and the cost of these goods is shared in a fair manner among everybody. It was developed by Erik Lindahl.
In a Lindahl equilibrium everyone is willing to pay the taxes to receive the benefits.
WV Construction has two divisions: Remodeling and New Home Construction. Each division has an on-site supervisor who is paid a salary of $90,000 annually and one salaried estimator who is paid $50,000 annually. The corporate office has two office administrative assistants who are paid salaries of $54,000 and $39,000 annually. The president's salary is $159,000. How much of these salaries are common fixed expenses
Answer:
$252,000
Explanation:
Calculation to determine How much of these salaries are common fixed expenses
Office administrative assistant $ 54,000
Office administrative assistant $39,000
President's salary $159,000
Common fixed expenses $ 252,000
($54,000+$39,000+$159,000)
Therefore How much of these salaries are common fixed expenses will be $252,000
We said that tourism helps build infrastructure. What is infrastructure referring to?
a
The economy/money
b
Interest in the destination
c
Reputation
d
Roads, buildings, and hotels
Answer:
D
Explanation:
Although it could be A, Infrastructure relates more directly to buildings and services that support the economy.
Esquire Comic Book Company had income before tax of $1,350,000 in 2021 before considering the following material items:
1. Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting principles. The before-tax loss on disposal was $375,000. The division generated before-tax income from operations from the beginning of the year through disposal of $570,000.
2. The company incurred restructuring costs of $90,000 during the year.
Required:
Prepare a 2016 income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 40%. Ignore EPS disclosures.
Answer:
Net income = $873,000
Explanation:
The 2016 income statement for Esquire is seen below;
Esquire Comic Book Company
Income statement for the year ended, 2016
Income from continuing operations
Operating income
$1,350,000
Restructuring costs
($90,000)
Income from continuing operations
$1,260,000
Income(loss) from discontinued operation
Loss on disposal of discontinued operation
($375,000)
Add: Income from discontinued operation
$570,000
Net income(loss) from discontinued operation
$195,000
Income before tax = $1,260,000 + $195,000 = $1,455,000
Income tax expense = $1,455,000 × 40% = $582,000
Net income = $1,455,000 - $582,000 = $873,000
How does the employment outlook for financial counselors compare to other occupations between 2010 and 2020?
a. worse than average
b. better than average
c. impossible to tell due to lack of data
d. average
Answer:
I believe the answer is b
Explanation:
Congress passed so many protections bills throughout the years.
Answer:
B. better than average
Explanation:
It is better because we have advanced in our financial educations, and data reporting. We also advanced in our employment fields. This affects the way it heads because the more people are employed the more people need financial counselors. Frome 2010 we only had a limited number of financial counselors, only 44% of them actually knew what they were doing. Surprisingly before 2010, they actually had more counselors, and by 2010 it fell by 1.9% it may seem small but that's a big number. Know in 2020, we had over 12,098 financial counselors, and 98.7% of them knew exactly what they were doing, the counselor administration reported a spike of 13.908%, this was the most they had seen since 1998. Industries helped this climax change, mainly the automotive and the technological industries. Soon the White House and the OHH made a new administrative group the AFC, basically, this said that if a financial counselor was not an A-certified Financial counselor they were not employed by the U.S.
1.15
This financial statement reflects the flow of money in and out of a business.
occeed cash flow
Stato
Total: 15 marks
Question 2
Answer:
cash flow statement
Explanation:
because it determines the inflows and outflows of the business
clarify the term fair discrimination
The term fair discrimination is a type of discrimination that is legally required.
What is fair discrimination?Firm discrimination may be based on the following situations:
Inherent requirements of a particular job (qualifications)Compulsory discrimination by law (for example, laws that regulated interracial marriages)Discrimination based on productivity (meritocracy).Thus, fair discrimination is a type of discrimination that is legally required.
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Magic Realm, Inc., has developed a new fantasy board game. The company sold 24,900 games last year at a selling price of $66 per game. Fixed expenses associated with the game total $415,000 per year, and variable expenses are $46 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor.
Required:
a. Prepare a contribution format income statement for the game last year.
b. Compute the degree of operating leverage.
c. Compute the expected percentage increase in net operating income for next year.
d. Compute the expected total dollar net operating income for next year. (Do not prepare an income statement; use the degree of operating leverage to compute your answer.)
Answer:
Part a
contribution format income statement
Sales $1,643,400
Less Variable Costs ($1,145,400)
Contribution $498,000
Less Fixed Costs ($415,000)
Net Income (Loss) $83,000
Part b
6.00
Part c
See explanation
Part d
See explanation
Explanation:
Contribution Income Statement separates variable costs and fixed costs as shown above.
Degree of operating leverage = Contribution ÷ Earnings Before Interest and Tax
= $498,000 ÷ $83,000
= 6.00
Part c and Part d
Since there is missing information related to these parts here are the explanations.
The expected percentage increase in net operating income for next year.
Calculated by multiplying the percentage change in sales by the degree of operating leverage.
The expected total dollar net operating income for next year.
Simply apply the expected percentage increase calculated in part c to the existing Net Profit
crane company purchased aa depreciatble asset for $614000 on january 1, 2018. the estimated salvage value os $56000 and the estimated useful life is 9 years. the straight-line method is used for depreciztion. in 2021, crane changed its estimates to a total useful life of 5 years with a salvage value of $92000. what is 2021 depreciation expense
Answer:
$166,000
Explanation:
The computation of the 2021 depreciation expense is shown below:
Depreciation expense is
= (Cost - Salvage value) ÷ Useful life
= ($614,000 - $56,000) ÷ 9
= $62000/year
Now book value as on 2021 is
= (Cost - Accumulated depreciation expense)
= $614,000 - (62000 × 3)
= $424000
Now revised depreciation expense is
= ($424,000 - $92,000) ÷ 2
= $166,000
Suppose that Healdsburg enters into a sales contract with an auto manufacturer on January 1, 2021, to provide tires that cost Healdsburg $18 million to produce. The buyer offers Healdsburg $6 million in cash and agrees to take over only the principal payment on Healdsburg's 6.55% debt notes. Assume that the going market interest is 7% at the time. What would Healdsburg's gross profit be on the sale
Answer: hello your question is incomplete attached below is the complete question
answer : $9,836,000.
Explanation:
Revenue of Healdsburg will be calculated as
= cash in hand + PV of the 6.55% note principal
= 6 million + ( 25million * 0.87344 ) = $27,836,000
hence Gross profit made by Healdsburg = 27,836,000 - 18,000,000 = $9,836,000.
given that ; n = 2 , interest ( i ) = 7%
A prospective employer reviews an applicant's work history and personal references. In
addition, he or she may review the applicant's credit report. Why would an employer be
interested in the credit report of a job applicant when making hiring decisions?
Answer: Responsibility check.
Explanation:
A person's credit report can sometimes tell an employer what they need to know about how the prospective employee can handle responsibility because it shows how the person handles their financial obligations.
For instance, a person who's report shows is in financial distress will not be considered very responsible as opposed to some whose credit report is in good shape. To put it in perspective, would a bank like to hire a teller in financial distress? Chances are very negative for that.
Data for January for Bondi Corporation and its two major business segments, North and South, appear below:Sales revenues, North $ 759,000Variable expenses, North $ 440,500Traceable fixed expenses, North $ 90,900Sales revenues, South $ 586,800Variable expenses, South $ 334,900Traceable fixed expenses, South $ 76,000In addition, common fixed expenses totaled $206,000 and were allocated as follows: $107,000 to the North business segment and $99,000 to the South business segment.A properly constructed segmented income statement in a contribution format would show that the segment margin of the North business segment is:
Answer and Explanation:
The computation of the segment margin of the North business segment is shown below:
Particulars Total North South
Sales $1,345,800 $759,000 $586,800
Less:
Variable cost -$775,400 $440,500 $334,900
Contribution margin $570,400 $318,500 $251,900
Less:
Fixed cost $166,900 $90,900 $76,000
Segment margin $403500 $227600 $175900
Less: common fixed ex $206,000
Net operating income $197,500
what are the negative impacts of a cooperative
Answer:
Lack of Motivation:
Due to absence of link between efforts and material rewards, the members may lack the zest to serve the organisation to the best of their abilities. The results of such negatives are bound to show up in the functioning of the cooperative society.
Explanation:
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kurt's kabinets is looking for a project that will require 80,000 and another 20,000 in net working capital the project is expected to produce sells of 138,000 with associated cost of 74,000 the project has a 4 year life the company use straight line depreciation to a zero book value over the life of the project the tax rate is 21% what is the operating cash flow for this project
Answer:
$54,760
Explanation:
Calculation to determine the operating cash flow for this project
Operating Cash flow=[$138,000 -$ 704,000 - ($80,000 ÷4)] (1-.21) + $20,000
Operating Cash flow=[$138,000 -$ 74,000 -$20,000] 0.79+ $20,000
Operating Cash flow=($44,000*0.79)+$20,000
Operating Cash flow=$34,760+$20,000
Operating Cash flow=$54,760
Therefore the operating cash flow for this project will be $54,760
2
Type the correct answer in the box. Spell all words correctly.
Why are we forced to make choices in day-to-day life?
resources.
We are forced to make choices in day-to-day life because Recourses
Answer:
help us stay alive and live
Explanation:
According to Goldratt: Group of answer choices Two activities scheduled to be carried out sequentially and using the same scarce resource benefit from having the same project manager. Two activities scheduled to be carried out in parallel and using the same scarce resource are independent. Two activities scheduled to be carried out in parallel and using the same scarce resource are not independent. Two activities scheduled to be carried out sequentially and using the same scarce resource require different project managers.
Answer:
Two activities scheduled to be carried out in parallel and using the same scarce resource are independent.
Explanation:
Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service. Generally, projects are considered to be temporary because they usually have a start-time and an end-time to complete, execute or implement the project plan.
The fundamentals of Project Management includes;
1. Project initiation
2. Project planning
3. Project execution
4. Monitoring and controlling of the project
5. Adapting and closure of project.
Eliyahu Moshe Goldratt is a business guru from Israel and he's famously known for his works in business and economics such as Optimized Production Technique, Drum-Buffer-Rope, The Theory of Constraints, The Thinking Processes, Critical Chain Project Management, etc.
According to Goldratt, two activities scheduled to be carried out in parallel and using the same scarce resource are independent.
Arthur, age 19, is a full-time student at Gordon College and is a candidate for a bachelor's degree. During 2020, he received the following amounts: Tuition scholarship $2,400 Loan from college financial aid office $1,000 Cash support from parents $2,000 Ordinary cash dividend $200 Cash prize awarded from a contest $300 What is his adjusted gross income for 2020
Answer:
$500
Explanation:
Calculation to determine the adjusted gross income for 2020
Ordinary cash dividend $200
Add Cash prize awarded from a contest $300
Adjusted gross income $500
($200+$300)
Therefore the adjusted gross income for 2020 will be $500
A fee charged by a mutual fund company when selling a mutual fund is
Answer: back end load
Explanation:
It just is
A fee charged by a mutual fund company when selling a mutual fund is the shareholder fee.
What is a mutual fund?A mutual fund is a professionally managed investment vehicle that pools money from a number of individuals to buy securities.
The word is commonly used in the United States, Canada, and India, with similar structures such as the SICAV in Europe and the open-ended investment company in the United Kingdom.
Any costs a person pay when buying or selling fund shares are known as shareholder fees. These are usually one-time expenses.
They include operating charges for the mutual fund, such as investment advising fees.
Therefore, a shareholder fee is charged by the mutual fund company when selling a mutual fund.
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Wilma Company must decide whether to make or buy some of its components. The cost of producing 60,000 switches for its generators are as follow: Direct Material $30,000 Direct Labor $42,000 Variable Overhead $45,000 Fixed Overhead $60,000 Instead of making the switches at $2.70 per unit. If the company purchases all the switches, all the variable cost and one-fourth of the fixed cost will be eliminated. (a) Prepare an incremental analysis showing whether the company should make or buy the switches. (b) Would your answer be different if the released productive capacity will generate additional income of $34,000
Answer:
The company would incur $ 30,000 additional costs if it buys the switches.
No, the company should make switches in order to avoid additional costs even if the income is increased.
Explanation:
Wilma Company
Make Buy Net Income
( increase / decrease)
Direct Material $30,000 $30,000
Direct Labor $42,000 $42,000
Variable Overhead $45,000 $45,000
Fixed Overhead $60,000 $ 45000 $ 15000
Purchase Price (2.7 *60,000)
162,000 ( 162,000)
Total $177,000 $ 207,000 (30,000)
The company should make the switches because it costs more to buy rather than to make.
The company would incur $ 30,000 additional costs if it buys the switches.
No because even if the income is increased the better option would be to make switches to save the additional costs.
Explanation:
Which platform is dedicated to Customer Relationship Management (CRM)?
Following Professional Telephone and Voice Mail Etiquette Despite the heavy reliance on e-mail, in certain situations calling may be the most efficient channel of communication, whether mobile or on your office line. Be sure to understand professional expectations for telephone, cell phone, and voice mail etiquette. Identify the telephone etiquette that will make your telephone calls productive.
a. End the call politely.
b. Avoid telephone tag.
c. Leave complete voice mail messages.
d. Be professional and courteous.
e. Be brisk when rushed.
Answer:
a. End the call politely.
b. Avoid telephone tag.
c. Leave complete voice mail messages.
d. Be professional and courteous.
Explanation:
In professional connections, it is extremely necessary to adopt a posture that corresponds to the values of the organization to whom you represent. So it is essential that the person who is going to carry out the communication be polite, ethical and courteous. When calling a customer, for example, there needs to be an adequate presentation of his name, the name of the person he wants to talk to and the name of the company that is calling, but it is necessary to avoid a phone tag that makes the call longer, it is I need to be objective to retain attention, and if necessary to leave voicemail messages, these need to be complete and with identification so that the customer can return.
Harrison Forklift's pension expense includes a service cost of $10 million. Harrison began the year with a pension liability of $28 million (underfunded pension plan). 1. Interest cost, $6; expected return on assets, $4; amortization of net loss, $2.2. Interest cost, $6; expected return on assets, $4; amortization of net gain, $2. 3. Interest cost, $6; expected return on assets, $4; amortization of net loss, $2; amortization of prior service cost, $3 million.Required:Prepare the appropriate general journal entries to record Harrison's pension expense in each of the above independent situations regarding the other components of pension expense ($ in millions).
Answer:
1. ($ in millions)
Dr Pension expense (total) $14
Dr Plan assets (expected return on assets)$4
Cr PBO $16
Cr Net loss—AOCI(current amortization) $2
2 ($ in millions)
Dr Pension expense (total) $10
Dr Plan assets (expected return on assets) $4
Dr Net gain—AOCI(current amortization) $2
Cr PBO $16
($10 service cost + $6 interest cost)
3. ($ in millions)
Dr Pension expense (total) $17
Dr Plan assets (expected return on assets) $4
Cr PBO $16
Cr Net loss—AOCI(current amortization) $2
Cr Prior service cost(current amortization) $3
Explanation:
Preparation of the appropriate general journal entries to record Harrison's pension expense in
1. ($ in millions)
Dr Pension expense (total) $14
($16+$2-$4)
Dr Plan assets (expected return on assets)$4
Cr PBO $16
($10 service cost + $6 interest cost)
Cr Net loss—AOCI(current amortization) $2
2 ($ in millions)
Dr Pension expense (total) $10
($16-$4-$2)
Dr Plan assets (expected return on assets) $4
Dr Net gain—AOCI(current amortization) $2
Cr PBO $16
($10 service cost + $6 interest cost)
3. ($ in millions)
Dr Pension expense (total) $17
($16+$2+$3-$4)
Dr Plan assets (expected return on assets) $4
Cr PBO($10 service cost + $6 interest cost) $16
Cr Net loss—AOCI(current amortization) $2
Cr Prior service cost(current amortization) $3
The table below represents daily production possibilities for a typical worker in both China and the United States, assuming that only two types of goods are produced in each country: food and textiles. (Put your answers in decimal form to two decimal places.)
Output per Worker per Day (unit)
Food Textiles
China 1 2
United States 9 3
The opportunity cost of 1 more unit of The opportunity cost of 1 more unit of food in China is giving up________ food in the United States is giving up_________ units of textiles. The opportunity cost of 1 more unit of textiles in China is giving up _________ textiles in the United States is giving up _______ units of food.The opportunity cost of 1 more unit of China has the comparative advantage in the production of and the United States has the comparative advantage in the production of _______
Answer
Answer
Answer
Answer
The opportunity cost of producing 1 more unit of food in China is giving up 2 units of textiles.
The opportunity cost of producing 1 more unit of food in the United States is giving up 0.33 units of textiles.
The opportunity cost of producing 1 more unit of textiles in China is giving up 0.5 units of food.
The opportunity cost of producing 1 more unit of textiles in the United States is giving up 3 units of food.
It is clear from the above that China has a comparative advantage in producing textiles while the United States has a comparative advantage in producing food.
What are opportunity costs and examples?The opportunity cost is time spent studying and that money to spend on something else. A farmer chooses to plant wheat; the opportunity cost is planting a different crop or alternate use of the resources (land and farm equipment). A commuter takes the train to work instead of driving.
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