The government is trying to maintain the infrastructure of the country, provide social security benefits to citizens, and regulate airline security. congress has a budget for spending on all three of $1 billion. they decide to spend 45% on infrastructure, 45% on social security benefits, and 10% on regulating airline security. based on the information provided in this situation, which of the following best describes the opportunity cost? a. the citizens will not benefit from the spending because none of the programs directly affect them. b. the government will be able to improve the road system, encouraging more people to drive on vacations. social security benefits will provide income for the elderly and disabled, allowing them to spend money, thus boosting the economy. airline security might be slightly improved because of the ability to hire, but there will not be enough money to provide the latest equipment. c. however, social security benefits will suffer because a larger amount was spent on airline security. d. there is no opportunity cost in this situation

Exercise 18-15 sheffield appliance center is an experienced home appliance dealer. sheffield appliance center also offers a number of services for the home appliances that it sells. assume that sheffield appliance center sells ovens on a standalone basis. sheffield appliance center also sells installation services and maintenance services for ovens. however, sheffield appliance center does not offer installation or maintenance services to customers who buy ovens from other vendors. pricing for ovens is as follows. oven only $790 oven with installation service 850 oven with maintenance services 970 oven with installation and maintenance services 990 in each instance in which maintenance services are provided, the maintenance service is separately priced within the arrangement at $180. additionally, the incremental amount charged by sheffield appliance center for installation approximates the amount charged by independent third parties. ovens are sold subject to a general right of return. if a customer purchases an oven with installation and/or maintenance services, in the event sheffield appliance center does not complete the service satisfactorily, the customer is only entitled to a refund of the portion of the fee that exceeds $790. assume that a customer purchases an oven with both installation and maintenance services for $990. (b) indicate the amount of revenue that should be allocated to the oven, the installation, and to the maintenance contract.

You work as the sales manager for a company that sells office supplies to businesses of all sizes. because the profit margins are razor-thin, you need to ensure that you are getting the very best prices on paper, pencils, pens, post-it notes, and other office supplies from the manufacturers. when reviewing the quarterly profit statement, you realize that your costs are higher than they should be, and you trace the higher costs back to an employee who has been lax about getting competitive bids to ensure the lowest prices. when you conduct your research to determine the reason for the higher costs, and take action to bring those costs back down, in which of the key management processes are you taking part?

How is systematic decision making related to being financially responsible