Business High School

Based on what you have read, what is the opportunity
cost of the glass-making company's decision?
A glass-making company has decided it is not generating
enough profit because its production costs are too high.
To reduce these costs, the company wants to replace the
employees who make glass by hand with new machines.
This switch will result in lower quality products, which
must be sold a lower price. However, the company's
profits will increase because its production costs are
lower.
a higher quality item
a greater profit
a loss of equipment
a longer production time

Answers

Answer 1

Answer:a higher quality item

Explanation:

It’s a, i got it correct

Answer 2

Based on a higher quality item, the opportunity cost of the glass-making company will be decided. Thus, option 'A' is the correct option.

What is an opportunity cost?

The value or advantage forfeited by engaging in a certain activity in comparison to engaging in a different activity is known as the opportunity cost in microeconomic theory. More precisely, it implies you forfeit the chance to engage in a different activity if you choose one activity (for instance, an investment).

The best activity is the one that, after deducting opportunity costs, has the highest return when compared to all other activities. For instance, if you purchase a car and use it just for personal transportation, you are not permitted to rent it out; yet, if you do, you are not permitted to use it for personal transportation.

Learn more about opportunity cost, here:

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Related Questions

What does Freight Terms mean

Answers

Answer:

Freight Terms identify the party responsible for the payment of freight and are usually expressed as: prepaid or collect with the following nuances: prepaid to a stated location and collect beyond or third party or pre-pay and add. ... Collect means that the consignee owns the freight payment responsibility.

Explanation:

Answer:

Freight Terms identify the party responsible for the payment of freight and are usually expressed as: prepaid or collect with the following nuances: prepaid to a stated location and collect beyond or third party or pre-pay and add. ... Collect means that the consignee owns the freight payment responsibility

Explanation:

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