Answer:
Consumer Surplus = $1.50
Explanation:
Consumer surplus is the difference between what a consumer is willing to pay for a given amount of goods or services and what he ends up paying.
Therefore,
Consumer surplus = Amount consumer is willing to pay less amount paid
Given that
Elvis is willing to pay 5 + 4 + 4.50 = 13.50 for three
Price of 3 sandwich = 3 × 4 = 12
Consumer surplus = 13.50 - 12
= $1.50
Final answer:
Elvis has a total consumer surplus of $1.50 when buying three sandwiches for $4 each.
Explanation:
Elvis values the first gravy sandwich at $5, the second at $4.50, and the third at $4. If he buys three sandwiches for $4 each, his consumer surplus is the difference between what he is willing to pay for each sandwich and what he actually pays. Calculating the consumer surplus for each sandwich: for the first sandwich it's $5 (value) - $4 (price) = $1, for the second it's $4.50 (value) - $4 (price) = $0.50, and for the third, it's $4 (value) - $4 (price) = $0. Therefore, his total consumer surplus for three sandwiches is $1.50.
1.The property in a mixed market economy likely is ____.
2. Most of the property in command economies is owned by ____. The citizens of a command economy are likely to own property than citizens of a mixed-market economy.
Economics is the detailed study under the social studies that entail an individual or the market about the production, distribution, supply, consumption, and exchange of activities. There are micro and macroeconomics.
1. The property in a mixed market economy likely is Private.
2. Most of the property in command economies is owned by Government.
3. The citizens of a command economy are likely to own less property than citizens of a mixed-market economy.
A mixed market economy is a type of economy having the combination of both the free market and a commanded economy. Generally, the markets are considered to be under a mixed market economy only, this is because there is no perfect capitalist market or economy in the world.
A commanded economy is referred to as the economy that usually includes the autonomy of the demand and supply. The main power of the economy and the subtle of the market is under the government policies and government salience.
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Answer:
1.privet and public
2.governments
3.less
Explanation:
The record of all accounts and their balances used by a business is called a:
a. ledger (or general ledger).
b. journal.
c. book of original entry.
d. balance column journal.
e. general journal.
Answer:
A) ledger (or general ledger).
Explanation:
A company's general ledger includes all the transactions carried out by the company. Each transaction is recorded using the accounting system of debits and credits. The general ledger should basically track down every transaction carried out by the company during all of its history.
The record of all accounts and their balances used by a business is called a ledger or general ledger. It is a crucial part of the financial system of a business and helps in preparing other financial statements. Other options like journal, book of original entry etc. are also part of the accounting system but serve different purposes.
Explanation:The record of all accounts and their balances used by a business is known as a ledger or specifically a general ledger. The ledger is an important part of the financial system of a business as it encompasses every financial transaction made by the company. Consider it like a master document where all its financial data is stored and organized. These ledgers then help in preparing other financial statements like balance sheets, income statements etc.
The other options mentioned here are also part of a company's accounting system, but they serve different purposes. A journal, for instance, is the original record where transactions are first entered. A balance column journal and a general journal are both types of journals, with the first one having separate columns for debit and credit balances and the latter used for recording transactions not documented in other specialized journals.
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The member countries of BERPHO, a regional free trade area wanted to adopt a common currency, the "BERPH." The "BERPH" was modeled after and, in fact, was exactly similar to the euro. Establishment of the "BERPH" requires participating national governments to
Answer:
The member countries of BERPHO, a regional free trade area wanted to adopt a common currency, the "BERPH." The "BERPH" was modeled after and, in fact, was exactly similar to the euro. Establishment of the "BERPH" requires participating national governments:
- to give up control over monetary policy.
- to have a sound fiscal situation.
- to have a high degree of price stability.
- to be democratic in nature.
- to have stable exchange rates
Explanation:
BERPHO is an example of an economic union, where the fourteen member countries reached a level of economic integration, which means having a common currency, comprehensive harmonized tax rates, and a common monetary and fiscal policy.
Porsche AG uses the label "Top Guns" to describe one segment of its customers, namely those who care about power and control and who expect to be noticed. Such a profile would be based on which type of segmentation?
A) demographic
B) occupational
C) psychographic
D) behavioral
E) gender
Answer:
The correct answer is C. Psychographic
Explanation:
This type of segmentation specializes in the study of the consumer's psychological traits and other aspects inherent in his life, which can be likes, lifestyle, interests, desires, etc. Under this segmentation, it is possible to get much closer to the ideal consumer, although it takes a lot of effort to implement it.
Answer:
C) psychographic
Explanation:
Psychographic segmentation is one of the useful types of market segmentation used in categorizing a market target to be reached, of which such categorization into subgroups is based on traits such as the values, status, attitudes, interest, beliefs, motivations or interests of the target market. The target market is categorized into groups in this regard, with each group or segment having one or more of the listed traits in common. The label given by Porsche AG to a segment of its customers he described as “Top Guns”, obviously indicates it profiled his customers based on psychographic traits.
Ted's Lawn Care has total fixed costs of $200,000, total variable costs of $150,000, and an output of 25,000 units. What is Ted's Lawn Care's average fixed cost?
Answer:
$ 8 per unit of output
Explanation:
Average fixed cost is defined as fixed cost incurred per unit of output.
Given,
Total Fixed cost = $200,000
Total Variable Cost = $ 150,000
Output level = 25000 units
Average fixed cost can be computed as follows
Average fixed cost = [tex]\frac{Total\ Fixed\ Cost}{No.\ of\ units}[/tex] = [tex]\frac{200000}{25000}[/tex] = $ 8 per unit of output
Fixed costs refer to those costs which do not change in quantum irrespective of the level of output. For example rent of the factory premises.
A job _______ involves placing information about job vacancies and qualifications on bulletin boards, company newsletters and/or on the organization's intranet to make existing employees aware of current vacancies.
Answer:
Posting
Explanation:
A job posting involves placing information about job vacancies and qualifications on bulletin boards, company newsletters and/or on the organization's intranet to make existing employees aware of current vacancies.
Posting: Job posting involve activity like putting all the requirement by the employer and number of vacancies in the post of bulletin board, Newspaper, company newsletters, etc to get applicants for the job, who can be further screened for the job role. There is one another method of internal job posting to make existing employee aware about job posting, for which they can also apply internally if required criteria match with the candidate. These job posting are posted through internal source of company like intranet or company email. This help the company to get right candidate for the job.
Assume a $1,000 Treasury inflation-protected bond has a 2 percent coupon and a face value at issuance of $1,000. The reference CPI is 202.34 and the current CPI is 203.18. What do you know for certain about this bond?
Answer:
The bond has a 2 percent coupon and a face value at issuance of $1000 which is the same with the Treasury inflation-protected bond. However, the reference Consumer Price Index (CPI) which is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services has increased from 202.34 to 203.18. From this deduction, what I know for certain about this bond is that the interest payment have increased and the coupon rate is still 2 percent.
Final answer:
We know for certain that the bond has a 2 percent coupon, pays $20 in coupon interest, and has a new principal value of approximately $1,006.672 based on the current inflation rate.
Explanation:
To determine what we know for certain about this bond, we need to analyze the given information. We know that the bond has a 2 percent coupon, which means it pays 2 percent of its face value as interest. Since the face value is $1,000, the bond pays $20 ($1,000 x 2%) as coupon interest. We also know that the reference CPI is 202.34 and the current CPI is 203.18. The difference between these two values is 0.84 (203.18 - 202.34), which represents the inflation rate.
The Treasury inflation-protected bond is designed to adjust its principal value based on changes in the CPI. This means that the principal value of the bond will increase or decrease based on the inflation rate. In this case, because the current CPI is higher than the reference CPI, the principal value of the bond will increase. To calculate the new principal value, we multiply the current principal value by the inflation rate and add it to the current value. Using the formula, the new principal value would be $1,006.672 ($1,000 + $1,000 x 0.0084).
Therefore, what we know for certain about this bond is that it has a 2 percent coupon, pays $20 in coupon interest, and has a new principal value of approximately $1,006.672 based on the current inflation rate.
The common types of valuable resources and competitive capabilities that management should consider when crafting a strategy do not include Multiple Choice a. valuable human assets and intellectual capital. b. valuable physical and intangible assets. c. a skill, specialized expertise, or competitively important capability. market share, profit growth, and d. increases in stock price. e. valuable organizational assets and competitively valuable alliances.
Answer: Market share, profit growth and increase in stock price.
Explanation: Valuable resources and competitive capabilities which a management should consider while crafting include personnel with requisite skills and intellectual prowess who can help mould, shape and develop instinctive strategies required in a highly competitive market, such that the organization stays ahead of its competitors. The tactical ability to align and form productive alliances or mergers or synergy between one or more goal-oriented organization might be necessary. However, strategic planning in a competitive market require guts, courage, ingenuity, panache and zeal. These qualities enables an organization to develop strategic plans required to be in front of one's competitors. As opposed to being focused on market share, increase stock prices.
Hamburger Co has determined that their lowest total cost production technology is $460. If machines cost $100 and workers cost $40 what number of workers produces this cost of production, assuming Hamburger Co has already determined it will purchase 3 machines?
Answer:
4 workers
Explanation:
The cost that Hamburger Co can incur at this time is $460.
When producing the total cost is equal to fixed cost less variable cost.
Fixed cost includes nonmoveable assets that assist in production, such as machinery. The cost is fixed.
Variable costs are those costs that change in the course of production and can be varied depending on need.
Total cost = Fixed cost + variable cost
460= (3*100)+ variable cost
Variable cost= 460- 300= $160
Number of worker= Variable cost/ cost of each worker
Number of worker= 160/40= 4 workers
After an organization has determined which of the many segmentation variables it will use, and the segmentation process is complete and the data analyzed, the next step in the target market selection process is ______________.
Answer:
The next step in the target market selection process is Select Specific Target Markets.
Explanation:
The steps of the Target Market Selection Process. are:
Step 1: Identify the Appropriate Targeting Strategy.
Step 2: Determine Which Segmentation Variables to Use.
Step 3: Develop Market Segment Profiles. Segmentation process is complete
Step 4: Evaluate Relevant Market Segments. The data is analyzed.
The following step is:
Step 5: Select Specific Target Markets.
On the twentieth day of the month, room sales at the Motor Lodge Motel exceeded its breakeven point for the month. Revenue generated by room sales during the remaining days of the month will:_______.a. decrease in proportion to the additional room sales.b. cover the fixed costs associated with those additional room sales.c. be pure profit for the motel.d. increase at a faster rate than the costs associated with those sales.
Answer:
d. increase at a faster rate than the costs associated with those sales.
Explanation:
Revenue generated will increase at a faster speed than the cost associated with the sales because the fixed cost associated with the sales has alredy been covered and now the only cost which we have to deal is the variable cost only. So the returns / profit from the remaining days will also increase faster than the rate of the cost associated with them.
The sustainability of a competitive advantage depends upon the rate of obsolescence of the core competence, the availability of substitutes for the core competence, and the imitability of the core competenc e T/F
Answer:
The correct answer is True.
Explanation:
Currently, market competition, traditional conditions and factors, such as labor, access to financial resources and raw materials, offer less competitive advantages than in the past. Current trends require that
the top executives of the companies consider new concepts for their organizations, it is necessary to change the current way of seeing the organizations.
As a first step, it is necessary to visualize the company as a set of heterogeneous resources, capabilities and core skills that can be used to create an advantage over other companies in the market. This implies that each company has resources and capabilities that other companies do not have, at least not in the same combination. Resources are the source of capabilities, some of these lead to the development of core skills. Using core skills, companies can develop their activities better than their competitors. In essence, this new overview bases the strategy in terms of a unique competitive position, rather than operational efficiency.
As a source of competitive advantage, core skills distinguish a company at the competitive level and reflect its personality. These skills arise over time through an organizational process that consists of accumulating and learning to take advantage of the various resources and capabilities. As an ability to take action, core skills “... constitute the essence of what makes an organization unique in its ability to offer value to customers during a
long period".
The development of human resources prepares individuals to perform new functions and fulfill more specific responsibilities, simultaneously constitutes a powerful weapon against phenomena such as the obsolescence of staff knowledge, social and technical changes and the turnover rate .
Answer: True
Explanation: The rate of obsolescence of the core competence affects the sustainability of competitive advantage of a company whereby the managers must acquire modern analytical strategies and administrative formats.The less availability of the substitutes for the core competence the more the sustainability of competitive advantage. The less imitable and more innovative the core competence is, the more the sustainability of competitive advantage. This means it should be difficult to duplicate for the competitive advantage to be sustained.
Which of the following is not considered one of the potential biases in calculating the consumer price index? A. New product bias. B. Increase in quality bias. C. Coverage bias. D. Outlet bias. E. Substitution bias.
Coverage bias is not considered one of the potential biases in calculating the consumer price index.
Explanation:A price index refers to the weighted average in the prices of certain goods or services in certain region at certain time. In the consumer price index calculation, the biases arises from four different sources in which coverage bias is the major one. There are two price indices such as producer and consumer price index.
In the calculation of the consumer price index the potential bias which is a coverage bias can be reduced with BLS. The BLS has collected price information form extended stores number in order to reduce the coverage bias.
A market research survey is available for $10,000. Using a decision tree analysis, it is found that the expected monetary value with the survey is $65,000. The expected monetary value with no survey is $62,000. What is the expected value of the information from this sample?
Answer:
Therefore Expected Value of the information = $65,000+$62,000 - $10,000 = $117,000
Explanation:
If the market research survey is available for $10,000.
Using a decision tree analysis, it has been found that the expected monetary value with the survey is $65,000. The expected monetary value with no survey is $62,000.
Then the expected value of the information from this sample is the expected value of each outcome and deducting the costs associated with the decision
Therefore Expected Value of the information = $65,000+$62,000 - $10,000 = $117,000
The expected value of the information from the survey sample in this case is -$7,000. This is calculated by subtracting the expected value without the survey and the cost of the survey from the expected value with the survey.
Explanation:Expected value of the information from a sample in the context of market research and decision tree analysis can be calculated as the difference between the expected monetary value with the survey and the expected monetary value without the survey, minus the cost of the survey itself.
In this specific scenario, the expected value of information would be: $65,000 (with survey) - $62,000 (without survey) - $10,000 (cost of survey), which equals - $7,000.
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A monopolist can practice third-degree price discrimination. If demand in the United States is given by y1 = 7,200 – 100p1, where p1 is the price in the United States, and if the demand in England is given by y2 = 3,600 – 200p2, where p2 is the price in England, then the difference between the monopolistic price charged in England and the monopolistic price charged in the United States will be:__________.
Answer:
The difference between the monopolistic price charged in England and the monopolistic price charged in the United States will be = 27
Explanation:
Y1 = 7200 -100p1 = > p1 = 72 – y1/100
Y2 = 3600 – 200p2 = > p2 = 18 – y2/200
The cost of monopolist (since it’s the same firm and uses same technology) shall be same in both countries, hence let us assume marginal cost to be say c
Now the first order condition for Profit Maximisation of a monopolist yields
Marginal Revenue = Marginal cost
= > Marginal Rev US = c = Marginal RevEngland…………………..i
Now, Revenue in US = p1y1 = y1(72 – y1/100)
MR US = dRev/dy1 = 72 – y1/100 -y1/100 = 72 – y1/50
Similarly MREng = 18 – y2/100
Hence putting the above derivations in i:-
72 – y1/50 = 18 – y2/100
Now putting values for y1 and y2 again the above equation becomes:-
72 – (7200 -100p1)/50 = 18 – (3600 – 200p2)/100
= > 54 – 144 + 2p1 = -36 + 2p2
= > 2(p1 – p2) = -36 + 90 = 54
= > p1 – p2 = 27
Which of the following statements is true concerning the distribution of safe payments? The distribution of safe payments assumes that any capital deficit balances will prove to be a total loss to the partnership. Safe payments are equal to the recorded capital balances of partners with positive capital balances. The distribution of safe payments may only be made after all liabilities have been paid. In computing safe payments, partners with positive capital balances are assumed to absorb an equal share of any deficit balance(s). There are no safe payments until the liquidation is complete.
Answer:
The distribution of safe payments assumes that any capital deficit balances will prove to be a total loss to the partnership
Explanation:
When the capital ratio and the profits sharing ratio in a partnership are the equal to each other, it is from the profits that the capital deficits will then be balanced. Then in the cash distribution, this will make the partner that has the highest capital loss to have priority in the cash distribution.
When the partners then request for a distribution before all of the partnership assets are sold, schedule of safe payment is prepared.
Hence, The distribution of safe payments assumes that any capital deficit balances will prove to be a total loss to the partnership is true concerning the distribution of safe payment.
Answer: A
Explanation:
The distribution of safe payments assumes that any capital deficit balances will prove to be a total loss to the partnership. If the capital ratio and profits sharing ratio are same, any capital deficit will be balanced from the profits. It is gives the partner with the highest capital loss priority in cash distribution.
A schedule of safe payment is prepared when partners desire a distribution before all of the partnership assets are sold.
A company allowed its employees to take a half hour lunch break. However, the break was uncompensated, and the employees were not permitted to leave the employer’s premises during the break. Nevertheless, these employees did leave their positions on the production line and eat in an employee lunchroom. They also went outdoors at their discretion. Should the employer be required under the FLSA to compensate these hourly production workers for their 30-minute lunch breaks? What about maintenance workers who might be recalled early from their lunch breaks if an equipment breakdown required it?
Final answer:
Under the FLSA, bona fide meal periods typically do not need to be compensated, but this depends on whether employees are relieved of all duties. If maintenance workers are often recalled from breaks, their lunch breaks may need to be compensated.
Explanation:
Under the Fair Labor Standards Act (FLSA), there is an expectation that employers provide certain breaks to employees. However, whether a lunch break should be compensated depends on its length and the restrictions placed on employees during that time. Short breaks are typically considered compensable work hours, but bona fide meal periods, usually lasting at least 30 minutes, during which an employee is completely relieved from duty, are not.
Since the employees described are not permitted to leave the premises and maintenance workers might be called back early, this could indicate that they are not completely relieved from duty during their breaks. However, if the lunch period is a bona fide break, it may not need to be compensated. Whether these breaks should be paid may depend on specific circumstances, including the degree of freedom the employees have during their breaks and whether being on-call affects their ability to use the break for their own purposes. If maintenance workers are frequently recalled, their breaks may be more likely to be compensable.
Barnes Plating pays employees minimum wage and offers only those employee benefits that it is legally mandated to provide. This is an example of social ________.
Barnes Plating's practice of only paying minimum wage and providing legally required benefits is an example of social irresponsibility. A socially responsible company would offer additional benefits and wage considerations.
Explanation:Barnes Plating, by paying minimum wage and offering only legally required employee benefits, is demonstrating an example of social irresponsibility. This is because, while they are abiding by the laws, they are not going beyond them to contribute to the welfare of society or their employees. A socially responsible company often offers benefits beyond legal requirements and pays wages that consider living costs, thus contributing more to society.
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Barnes Plating's practice of paying its employees minimum wage and offering only legally mandated benefits is an example of social minimalism.
Social minimalism refers to a business strategy that focuses on complying with the bare minimum legal requirements for employee compensation and benefits, often with little regard for broader social or ethical responsibilities. While this approach may help the company minimize labor costs and remain compliant with the law, it can lead to ethical concerns and potential negative consequences.
Critics argue that such practices can result in low employee morale, high turnover, and a negative public image. Companies that adopt a more socially responsible approach, providing fair wages, additional benefits, and a positive working environment, may be better positioned to attract and retain talent, enhance their reputation, and contribute to the well-being of their employees and communities. Social minimalism may save costs in the short term, but it can hinder a company's long-term sustainability and social impact.
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What is the first step in the marketing research process?
The first step in the marketing research process is defining the problem or identifying the research objectives. This involves stating what you want to learn or understand. This step is critical as it guides the entire research project.
Explanation:The first step in the marketing research process is the formulation of a clear problem definition or identification of the research objectives. This involves clearly stating what exactly you wish to learn or understand so that you can design your research to answer these questions. For example, a company might want to understand their target market's preferences or determine customer satisfaction levels. This step is crucial as it sets the direction for the entire research project.
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Tiara Inc., an international clothing brand, recruited 15 people as managers. They all took a test as part of the recruitnont process e months after the recruitsent, their test scores were analyzed along with their performance on the job to find a substantial correlation between the two factors. Which of the following methods of research is exemplified in this scenario? A. Contont validation B. Predictive validation C. Conourrent validation D. Construct validation E. Diagnostic validation
"Predictive validation" methods of research is exemplified in this scenario.
Option: B
Explanation:
The degree to which a result on a scale or test forecasts ratings on some type of criterion is predictive validity in psychometric. For an instance, the validity of a cognitive test of work performance is really the association between test results and the evaluation ratings of managers.
Here in Tiara Inc. the recruited 15 managers who gave competitive exam to secure position in firm was used by the company head to analyse the substantial correlation between scores and performance in job.
TUMI brand briefcases are very expensive, high-end briefcases that are generally sold in specialty luggage shops. Which of the following is the most promising target market for TUMI briefcases?a. police officers.
b. executives.
c. construction workers.
d. postal workers.
e. students.
The target market for expensive, high-end TUMI briefcases is likely to be executives due to their demand for professional products, high disposable income, and the functionality and design needs that these briefcases meet.
Explanation:Considering that TUMI brand briefcases are described as being high-end and expensive, the most promising target market is most likely executives. This demographic often seeks out high-quality, professional products that enhance their overall work image. Executives often have high disposable income and can afford the product. Furthermore, the functionality and design of TUMI brand briefcases cater to the organizational and aesthetic needs of these professionals. It is less likely for police officers, construction workers, postal workers, or students to be the prime target market due to factors like income level and the nature of their work or study.
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Central City was awarded two state grants during its fiscal year ending in September 30, 2011: a 2 million block grant that can be used to cover any operating expenses incurred during fiscal 2012, and a $1 million grant that can be used any time to acquire equipment for its police department. For the year ending September 30, 2011 Central City should recognize in grant revenue in its fund statements (in millions)
Answer: $1 million
Explanation: Grants could be considered as financial offering granted to an indivual, group or organization usually by the government in other execute beneficial projects.
In the scenario above, two grants were awarded to central city.
The first is a $2million block grant for operating cost incurred in 2012 fiscal year
The second $1million which can be used anytime.
Therefore, grant revenue for the year ending September 30,2011 should recognize the second grant which is the $1 million grant that can be used any time, that means the year 2011 inclusive. To acquire equipment for its police department.
The 2 million block grant should be recognized in the grant revenue for the year 2012.
Situation: your section is playing water basketball as a team building activity at the company picnic. as the game starts, teenagers began running along the pool deck and jump into the pool. the leadership decides to continue the game and let the incident go. again a teenager jumps into the pool and this time he lands on your plant manager. the plant manager sinks to the bottom of the pool. you pull him to the side of the pool and he appears unresponsive. what actions do you take?
Answer:
Firstly, I will try resuscitating the Plant Manager while also calling on emergency service units to come help out. The game would immediately be suspended.
Resources are not usually hired on a day-to-day basis to meet fluctuating requirements. This means that a. the maximum number of project resources should be hired for the project duration. b. if the workers are employed for the duration of the project and it may be necessary to pay them when idle or overtime when at peak demand. c. the actual work performed for each activity should be evaluated to inform the next activity of the number of workers needed. d. all projects should plan all tasks for one person to complete the activities to keep the person busy.
Answer:
C. the actual work performed for each activity should be evaluated to inform the next activity of the number of workers needed.
How does the quantity supplied of a good with a large elasticity of supply react to a price change
The quantity supplied of a good with a large elasticity of supply react to a price change as "it will be very sensitive to price change".
Explanation:
Producer tolerance to shifts in the quality of its goods or services. Generally speaking, if prices rise the supply does so. Supply elasticity is calculated as the ratio of proportionate variability in the quantity delivered to the proportionate price change.
The amount given of a good with a high supply elasticity dramatically responds to a change in price. A small price increase induces a large supply increase and a small price decline triggers a significant supply drop. Supply elasticity is an indicator of an industry or a producer's sensitivity to price fluctuations for its product. Also considerations are the availability of critical resources, technological innovation and the number of rivals that create a product or service.
If quantity supplied of a good has a large elasticity of supply (greater than one) then the reaction is elastic.
Explanation:Elasticity of supply refers to the response that is generated by the manufacturers or producers about the price of the product based on the quantity that is demanded. When the prices of any goods or services increases the supply also increases.
It is the relationship between the quantity of the goods and devices that is supplied to the price changes of that goods or services.Elasticity of the supply refers ratio of the change in the quantity of goods and services that is being supplied to the percentage change in price of that product or services. If quantity supplied of a good has a large elasticity of supply (greater than one) then the reaction is elastic.
Wall Corporation exchanges old equipment for new equipment. The original cost of the old equipment was $100,000, and its accumulated depreciation at the date of exchange was $60,000. The new asset received had a fair value of $80,000 and a book value of $65,000. The journal entry to record this exchange will include which of the following entries? 1. Credit gain on exchange of asset $4000 2. Credit equipment $100,000 3. Debit accumulated depreciation $60,000 4. Debit equipment $80,000 5. Debit equipment $65,000 6. Credit equipment $80,000 7. Credit accumulated depreciation $60,000
Answer:
2.Credit Equipment 100,000
3. Debit accumulated depreciation 60,000
Explanation:
When trading equipments to determinate if there is or not a gain or loss we have to know if there is commercial substrance.
When that is the case then, we can post the difference in value as gain or loss.
When there isn't, we enter the new equipment for the amount of the net book value of the equipment to avoid recording gain or losses.
Equipment (new) 80,000 debit
Acc Dep- Equipment (old) 60,000 debit
Equipment(old) 100,000 credit
Gain at Disposal 40,000 credit
--to record when there is commercial substance--
Equipment (new) 40,000 debit
Acc Dep- Equipment (old) 60,000 debit
Equipment(old) 100,000 credit
--to record when there isn't--
In both cases, whe have to write-off the old equipment thus, debit the accumulated depreciation balance.
and credit the old equipment cost
The country of Dalima has long been a substantial exporter of agricultural goods, reflecting its unusual abundance of arable land; in contrast, its continental neighbor, Bundeeza, has excelled in the export of goods produced in labor-intensive manufacturing industries. The export policies of the two countries is best explained by ___________.a. mercantilism.
b. theory of absolute advantage.
c. Heckscher-Ohlin theory.
d. theory of comparative advantage.
Answer:
C. Heckscher-Ohlin theory.
Explanation:
The country of Dalima has long been a substantial exporter of agricultural goods, reflecting its unusual abundance of arable land; in contrast, its continental neighbor, Bundeeza, has excelled in the export of goods produced in labor-intensive manufacturing industries. The export policies of the two countries is best explained by Heckscher-Ohlin theory. This theory states that countries only export the products and services which they can produce quite plentiful and efficiently. The basic logic behind this theory is that if any country is having any kind of advantage in production then it will certainly be having relatively abundance factor as well.
Organizations can achieve a competitive advantage by using their resources to: Group of answer choices duplicate the value a competitor firm provides to its customers. create strategies that are simultaneously being implemented by competitors. foster competitive inertia. provide greater value for customers than competitors can.
Organizations can achieve a competitive advantage by providing greater value for customers than competitors can.
Explanation:In order to achieve a competitive advantage, organizations can use their resources to provide greater value for customers than competitors can. This can be done by offering unique products or services, superior customer service, or innovative features that set them apart from competitors.
For example, a company may offer a product that is more reliable, durable, and efficient than similar products on the market. This provides greater value to customers and gives the organization a competitive edge.
By focusing on providing superior value to customers, organizations can attract and retain more customers, increase market share, and ultimately achieve a competitive advantage over their competitors.
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Final answer:
Organizations gain a competitive advantage by providing greater value to customers than their competitors, following either a cost leadership or a product differentiation strategy, and playing to their core competencies.
Explanation:
Organizations can achieve a competitive advantage by utilizing their resources to provide greater value for customers than competitors can. According to Michael Porter's competitive strategy frameworks, firms can either adopt a cost leadership strategy or a product differentiation strategy. Companies aiming for cost leadership focus on minimizing costs to be able to offer goods or services at lower prices, while differentiation involves offering unique features that stand out from competitors. However, trying to achieve both cost leadership and differentiation can risk a firm's strategic focus, potentially getting "stuck in the middle" with neither clear advantage. Moreover, firms can also seek to leverage their core competencies, which are particular strengths in specific areas of their operations that provide unique value and create opportunities for improved profitability.
Andy decides to go skydiving for his 40th birthday. He signs a waiver, boards the plane and prepares for the jump. Everything is going smoothly until just before landing, a down draft forces Andy down at a much faster rate into the ground, causing injury to both of his legs. Andy will likely not be able to recover for his injuries under the defense of:__________.
Answer:assumption of the risk.
Explanation:Assumption of risk refers to a legal doctrine under which an individual is barred from recovering damages for an injury sustained when he or she voluntarily exposed him or herself to a known danger. ... Essentially, the defendant is claiming that the plaintiff knew the risk but took the chance of being injured anyway.
The most important elements of assumption of risk are that the person voluntarily and knowingly assumed the risks inherent to the dangerous activity. Furthermore, it is necessary for the defendant (the person the lawsuit was brought against) to demonstrate that the plaintiff knew of all risks at the time of the injury.
What is considered one of the four major cost of quality​ categories?
Answer:
The four major cost of quality categories are:
Prevention costs
Appraisal costs
Internal failure costs
External failure costs
Explanation:
Prevention costs are incurred to ensure that products meet standard specification such that they can be seen as fit for purpose,hence the situation where customers return such goods is nipped in the bud
Appraisal costs are costs incurred to test whether products produced meet the prerequisite specification.An inspection cost is a typical example of prevention cost
Internal failure costs are costs expended in reworking and putting products in right shape when quality failure occurs in-house.
External failure costs are costs spent to remedy a quality failure situation when the goods have already been sold to customers.For instance, costs of warranties