Strategic planning
Explanation:
Process to identify the external and internal conditions of the organisation, determine a strategy and goal, formulate general goals, establish and choose general approaches, and allocate resources for the organization's objectives.
Strategic planning is the method of documenting and guiding the small company— by evaluating where they are and where they're going. The strategic plan actually provides them with the opportunity to record the mission, vision and principles and their lengthy-term goals and intervention plans to achieve them.
On July 1 of the current year, Bertram acquired a 25 percent interest in Sycamore Company, a partnership, by contributing property with an adjusted basis of $7,000 and a fair market value of $12,000. The property was subject to a mortgage of $8,000, which was assumed by Sycamore Company. What is Bertram's basis in his partnership interest in Sycamore Company immediately after the partnership contribution?a. $12,000
b. $1,000
c. $7,000
d. $0
e. None of these choices are correct
Answer:
$1,000
Explanation:
Answer:
b. $1,000
Explanation:
Fairfield Corporation issues 100,000 shares of $1 par value common stock for $10 per share. This transaction: a. increases assets and increases liabilities.
b. increases assets and decreases liabilities.
c. increases assets and increases stockholders’ equity.
d. increases assets and decreases stockholders’ equity.
Answer:
C
Explanation:
When a company issues shares they receive money which is an asset and the number of shares issued represent shareholders' interest in the company. I.e shareholders equity. So the correct answer is C.
The issue of 100,000 shares of $1 par value common stock for $10 per share by Fairfield Corporation increases assets and increases stockholders’ equity.
What is a asset?An asset is any resource owned or controlled by a company or economic entity in financial accounting. It is anything that has the potential to generate good economic value. Assets are ownership values that can be turned into cash.
Stockholders' equity refers to the assets that remain in a company after all obligations have been paid.
When a company issues shares, it receives money, which is an asset, and the quantity of shares issued represents the company's interest in the shareholders. The result of this transaction is a rise in both assets and stockholder equity.
Therefore, option C is correct.
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The accrual basis of accounting:____
A. Is generally accepted for external reporting because it is more useful for most business decisions.
B. Is flawed because it gives complete information about cash flows.
C. Recognizes revenues when received in cash.
D. Recognizes expenses when paid in cash.
E. Eliminates the need for adjusting entries at the end of each period.
Your company, Johnson Farm Products, has decided to expand its traditional business serving farm owners in order to include home gardeners in its customer base. This change is not met with enthusiasm by the sales personnel who have had good long-term relationships with area farmers. You know that the change will be difficult if you cannot overcome the resistance of the sales personnel and obtain their cooperation.You have brought in the local extension agent to explain demographics and the changing nature of the area in which you live. The method for overcoming resistance that you have chosen is________.A) Education and communicationB) ParticipationC) NegotiationD) Manipulation and cooptationE) Coercion
Answer:
Option A is correct
Explanation:
Communication serves the means of inspiring the worker to be proactive in the expansion of the company and making them see reason why, communication and education have four purposes which is informing, means of influencing actions and way of expressing feelings to people.
Final answer:
Johnson Farm Products chose Education and Communication by bringing a local agent to explain changes, aiming to reduce sales personnel resistance by increasing understanding and acceptance of a new customer targeting strategy.
Explanation:
The method for overcoming resistance that Johnson Farm Products has chosen by bringing in the local extension agent to explain demographics and the changing nature of the area is Education and communication. This method involves providing knowledge and information to help the sales personnel understand the reasoning behind the change and its anticipated benefits. By using this method, the company is attempting to reduce resistance by increasing understanding and acceptance of the new strategy to target home gardeners, thus fostering a more positive attitude towards the change.
consumers ina competative market are considered to be price takers because each tends to buy of the total amount of a produced good
Answer: False
Explanation: In simple words, competitive market refers to the market structure in which there are large number of buyers and sellers, individual operating at a small level.
Due to the high number of buyers and sellers in the market no individual participant is able to impact or fix prices. All the buyers and sellers have to trade on prices that are determined by the market forces of demand and supply.
Consumers are price takers in such a market as no individual consumer has the ability to trade in all of the stocks and one only deals with a minor portion of the total business available. Thus, from the above we can conclude that the given statement is incorrect.
Nondiscretionary fiscal policy or built-in stabilizers automatically _____________ government spending (G) during inflations.
Answer: Increases
Explanation:
According to the given question, the non-discretionary fiscal policy automatically increases the government spending during the inflation as according to the requirement the economy can expand and can also shrink depends upon the demand.
It is also known as the automatic stabilizers as technically it increasing the budget without any specifying the new legislation at the recession time. The tax and the spending are the two important tools of the fiscal policy.
Therefore, Increase is the correct answer.
Ichabod Industries has a Latin American Division, a European Division, an Industrial Lubricants Division, and a Food Service Division. Ichabod Industries probably uses the ______ organizational structure.
a. hybrid combination
b. strategic business unit multidivisional
c. horizontal complementary strategic alliance
d. competitive multidivisional
Answer:
Answer is option A i.e. hybrid combination.
Explanation:
A hybrid combination organizational structure can be that is basically the combinations of two or more structures. This is due to the reason that the organization might have a dynamic work environment where people from diversified backgrounds come along to work together.
Amy manages mobile device security for her company, an insurance firm. The company currently uses BYOD. She’s concerned about employees’ personal device usage compromising company data on the mobile devices. What technology could best assist with this concern?
Answer:
Containerization
Explanation:
Containerization requires repackaging an application with all its associated configuration files, libraries and dependencies required for it to operate across different computer environments in an effective and bug-free manner.
Docker and Kubernetes are the most common containerizing ecosystems.
For software development, when implemented in another environment, code built in one computer environment frequently runs with bugs and errors.
Developers of software solve this problem by running applications in cloud containers.
Kelly was working as a chef for a restaurant chain, She was promised a salary of $3,000 per month as her gross pay. She began planning her expenses based on this amount. To her surprise, Kelly found that her salary check was only for $2,452. What term describes the amount ($2,452) that Kelly received in her salary check?
The amount of $2,452, which Kelly received in her salary check, was her _____
There are no multiple choice
The correct answer is; Net Income.
Further Explanation:
Since Kelly was promised a salary of $3,000 per month for her gross pay, she would still have taxes deducted. Gross pay is the pay before any taxes, insurance, retirement, etc are taken out.
Kelly received $2,452 for her net pay which was the amount owed to her after all the deductions were taken out. She can lower the amount taken out of her check by changing her deductions.
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what are the implications of sharing condifential material information in trading?
Answer:
Confidentiality is an inspiration that embraces business-related secrets and techniques as well as, common understanding by fostering pleasant self-belief among partners. This information has great value. Important points of business relationships are release it may cause harm to private lives of those involved.
another implication is that:
When a company insider shares confidential information with an investor in the stock market, the investor gets an unfair advantage.
Explanation:
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When two or more nonunion employees act together to try to improve working conditions, or when a single employee approaches management after conferring with other employees on their behalf or is acting on behalf of other employees, this is called ______.
Answer:
Protected Concerted Activity
Explanation:
Protected concerted Activity is a legitimate term utilized in labor approach to characterize representative security against manager counter in the United States. It is a legitimate standard under the subject of the opportunity of affiliation. The term characterizes the exercises laborers may participate in unafraid of boss reprisal. In nations where there is generally vigorous worker rejection insurance
The insurance of ensured purposeful action is to a lesser extent a particular lawful issue. In liberal market social orders like the United States, where it is relatively simple for a business to terminate a representative, the issue of ensured coordinated movement has become a significant work assurance.
Jones Company has the following liabilities at the end of the current year:
Notes Payable (current) $10,000
Notes Payable (long-term) 20,000
Accounts Payable 5,000
Salaries Payable 2,000
Bonds Payable 50,000
Sales Tax Payable 2,000
What is the amount of long-term Liabilities to be reported on the Balance Sheet at the end of the current year?
Answer:
The amount of long-term liabilities to be reported on the Balance Sheet at the end of the current year is $70.000
Explanation:
Concepts / definitions:
Long-term liabilities or noncurrent liabilities are knowns as obligations that companies have to pay in more than 1 year (12 months) or for some companies, after the company’s operating cycle (it is the time that the company takes to convert their inventory into cash).
Examples: Long term leases and bonds (that are generally are designed to be paid in more than one year).
Classification
Notes Payable (current) $ 10,000
Accounts Payable $ 5,000
Salaries Payable $ 2,000
Sales Tax Payable $ 2,000
Current liabilities $ 19,000
Bonds Payable $ 50,000
Notes Payable (long-term) $ 20,000
Long-term liabilities $ 70,000
The amount of long-term liabilities to be reported on the Balance Sheet at the end of the current year for Jones Company is $70,000. This includes $20,000 in long-term notes payable and $50,000 in bonds payable.
Explanation:The long-term liabilities of the Jones Company are those financial obligations that are due after a year's time. From the given financial information, we can identify the 'Notes Payable (long-term)' and the 'Bonds Payable' as such liabilities. In this case, the total amount of long-term liabilities is calculated as follows:
Add the long-term Notes Payable to the Bonds Payable. The long-term Notes Payable is $20,000 and the Bonds Payable is $50,000. 20,000 (long-term notes payable) + 50,000 (bonds payable) = $70,000So, the amount of long-term liabilities that would be reported on the Balance Sheet at the end of the current year would be $70,000.
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Luke is the owner of Fun Times, a U.S. event-planning company. He plans to open an event-planning company, Events & Adventures, in Germany. Events & Adventures will be totally owned and controlled by Fun Times, which makes Events & Adventures a ________ of Fun Times.
a. joint ventureb. total investment agreementc. strategic allianced. wholly owned subsidiarye. maquiladora
Answer:
It makes Events & Adventures a ________ of Fun Times:
d. wholly owned subsidiary
Explanation:
The option d is correct as a wholly owned subsidiary is such a company that is in ownership of another company. The company is called parent company that owns another company that is known as child or subsidiary company, that is exactly in our case because Events & Adventures will be totally owned and controlled by Fun Times.The option a is not correct as in joint ventures means two or more companies work together to accomplish a single goal without controlling each other.The option b is not correct as there is no investment agreement between these two companies as one is parent and other is child company.The option c is not valid as they are not strategically alliance as they may have to change the strategy in Germany for Events & Adventures.The option e is also not valid as Maquiladora are those companies that take unprocessed and raw material from another company and after processing, they provide the final and refined product.Signork, an accounting firm, offers benefits such as higher education sponsorships, annual fixed bonuses, commissions, pension plans, and term insurance plans to its employees. The employees are given a set amount to spend and allowed to choose any of the benefits within that set amount. In this scenario, which of the following does Signork offer to its employees?
A. Target-based benefits
B. Defined benefits
C. Variable benefits
D. Cafeteria-style benefits
Answer: Option D
Explanation: In simple words, A benefit plan in the cafeteria style may be the ideal way to get there. A custom choice method is a program for employee benefits that allows the employees to choose from a range of packages to build a package of benefits that best suits their needs and those of their families.
In the given case , Signork is also providing options for various benefits that the employees can choose from as per their own discretion.
Hence we can conclude that the given case depicts target based benefits.
Texas permits voters to decide directly on only three matters: constitutional amendments, the state income tax, and
Answer:
legislative salaries
Explanation:
Texas permits voters to decide directly on only three matters: constitutional amendments, the state income tax, and legislative salaries.
state once give chance to decide about amendments and constitutions can be revised and compared also decide and give opinion of income tax and salaries in state.
The ending finished goods inventory budget supplies information is needed for the:
a. sales budget.
b. cash budget.
c. budgeted income statement.
d. cost of goods sold budget.
e. all of these.
Answer:
d. cost of goods sold budget.
Explanation:
The budget will start with the beginning finished good. Then, add up the cost added during the period if manufacturing or purchase if merchandising. The sum will be the cost available for sale.
The difference between the ending finished good and the cost available for sale will be the cost of good sold for the period.
Discount loans to healthy banks, who may borrow as much as they wish from the Fed, are called:
Answer:
Primary credit
Explanation:
In the short run, the firm's network is _________ while in the long run it is ________.A. fixed, variableB. adoptable, reversibleC. variable, reversibleD. reversible, fixed
In the short run, the firm's network is fixed while in the long run it is variable.
Option A
Explanation:
Logistics network planning refers to tools that are required to evaluate the trade-offs among inventory quantities, amount and warehouses location, and transportation costs to most profitably and possibly support or assist a desired level of customer service.
Here the network would be fixed for short-term and on a long term basis it would be variable.
Logistics network design is associated with the site of warehouses and manufacturing plants, distribution of warehouses in connection to production plants or allocation of demands of the customers.
Final answer:
In the short run, the firm's network is fixed due to at least one input being unchangeable. In contrast, in the long run, all inputs and costs can be adjusted, making the firm's network variable.
Explanation:
The question relates to how costs and factors of production are viewed differently in the short run versus the long run for a firm. In the short run, at least one input is fixed, often represented by capital (K), due to contractual or practical immobility. This input cannot be quickly changed, and so the firm operates with some fixed costs and some variable costs.
However, in the long run, the firm has the capability to adjust all factors of production. This adjustment period allows the firm to change its operations completely, such as changing the quantity of capital or labor it uses. With this flexibility, all costs become variable since the firm can optimize its production without being constrained by previous decisions. Therefore, in the long run, there are no fixed costs, and all costs are considered variable.
Given this information, the correct answer to the student's question is that in the short run, the firm's network is fixed, while in the long run it is variable. Hence, the correct option is A. fixed, variable.
ccording to the law of supply, the quantity of an item supplied will rise as a result of: A) an increase in the number of firms producing the item. B) decreases in the prices of inputs used to produce the item. C) an increase in the price of the item. D) a decrease in the price of the item.
Answer:
(C) an increase in the price of the item
Explanation:
The law of supply states that the higher the price, the higher the quantity demanded.
This law is premised on the fact that suppliers of a commodity are motivated to supply more at higher prices than at lower prices.
Though Options A and B will, to some extent, lead to an increase in the quantity supplied, the law of supply relates only the price to the change in quantity supplied.
The PHS regulations about financial conflict of interests require which party to disclose significant financial conflicts of interest?
a.Researcher
b.Applicants submitting marketing applications for drugs,
c.biologics,
d.or devices Sponsor Organization IRB Member
Answer:
A) Researcher
Explanation:
Public Health Service (PHS) regulations on financial conflict of interests state that all researchers of staff that participate in the design, conduct or reporting of research programs funded by the PHS must disclose any personal financial interests that could conflict with the findings of the research program.
a. Researcher
PHS regulations The revised Public Health Service (PHS) regulations went into effect on August [tex]24,2012[/tex]. These rules set new guidelines to improve accountability, transparency, regulatory compliance, and institutional control of investigators' financial conflicts of interest.Financial conflict of interest policies in the PHS require a. researchers to declare major financial conflicts of interest.For more information:
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In the US market economy, the government performs the following prominent roles exceptSet prices for most resources (T/F)
Answer:
FALSE
Explanation:
The United States being a market economy, does not set prices for most resources if it does so at all, and neither does any market economy in the world. The point is a market economy is one that does not manipulate or interfere with the market forces of demand and supply.
Therefore by definition and nature the United States has an economic system where prices of products are determined fairly by competition rather than intervention by the government.
The Beauty Shop Cosmetic Company purchases a life insurance policy on Anna, the company's leading salesperson. Which business continuation plan does this company have?
Key person insurance is business continuation plan does this company have.
Explanation:The insurance policy of life that company purchases on key executive's life. The company pays the insurance policy through which it also plays the beneficiary of the plan. This insurance is known as "key man insurance" or "key woman insurance" or "business life insurance".
These pay after the death of key employee are used for expenses for replacement person and the business would be closed with proper steps. In this situation, the insurance of key person insurance gives the company some options other than immediate bankruptcy.
which of the following statements about the impact of a company's competitive efforts in a region on its regional market share and number of branded pairs sold is false?A. companies with more influential celebrity lineups in a region enjoy a competitive advantage in attracting buyers to purchase their brand in either retail stores or online as compared to regional rivals with less influential celebrity endorsements (or no celebrity endorsements)B. a footwear-maker achieves the biggest possible styling/quality-based competitive advantage in a given region when its branded footwear has a higher S/Q rating than any other company in the regionC. a company's pairs sold and market share outcomes in a region are positively impacted when the number of models/styles it offers for sale in the region is above the regional average.D. a company's pairs sold and market share outcomes in a region are positively impacted when its brand reputation image rating in a region is above the regional averageE. the more a company's S/Q rating in a region is below the region's all company average, the bigger is the company's resulting competitive disadvantage and the bigger is the resulting negative impact on the company's pairs sold and market share in the region.
The false statement is option C as offering a larger number of models doesn't necessarily mean increased sales and market share. The impact can be influenced by other factors like quality, brand reputation and market demand.
Explanation:The statement that is false about the impact of a company's competitive efforts in a region on its regional market share and number of branded pairs sold is C: a company's pairs sold and market share outcomes in a region are positively impacted when the number of models/styles it offers for sale in the region is above the regional average.
This assumption is not always true as the impact can vary greatly depending on other factors such as the quality of the models/styles, the brand's reputation and the market demand for such models. For instance, even if a company offers a variety of models/styles in a region, if the quality and appeal of these models are low or the brand has a poor reputation, the sales might not increase as expected. On the other hand, a company with fewer models but of excellent quality and backed by a strong brand reputation can attract larger market share.
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Which may occur as a result of a decrease in the price of laptop computers?
a. Increase in demand
b. Increase in quantity demanded
c. Decrease in demand
d. Decrease in quantity demanded
Answer:
Increase in quantity demanded
Explanation:
Demand for a product is the different quantities of that product that consumers are willing and ready to pay for at different prices.
There are many factors that affect the demand for a product; these include change in the price of the product, price of related products, change in consumer income, change in fashion, taste and style.
Change in quantity demand
Specifically, the law of demand states that there is an inverse relationship between quantity demand and its price. Change in quantity demand is a movement along the demand curve.
A change in the price of a product will produce an opposite change in the quantity that consumers are willing to buy assuming all other factors do not change. This is referred as to as change in quantity demand. This can either be an increase or a decrease depending on the direction of the price movement.
Change in demand
Change in demand is the shift in the demand curve to either right or left. This can be attributed to any of the factors that affect demand other the price e.g change in income.
Therefore a decrease in the price of laptop computers will lead to an increase in the quantity demanded .
A decrease in the price of laptop computers would likely result in an increase in quantity demanded, while the overall demand could remain unchanged. This is because demand refers to the willingness to buy, while quantity demanded reflects the specific amount consumers are willing to buy at a particular price.
When the price of laptop computers decreases, the result could be an increase in quantity demanded. This is because quantity demanded is directly related to the price of a product. If the price decreases, consumers are more likely to purchase the product, thereby increasing the quantity demanded. However, it is important to note that this doesn't necessarily mean that there is an increase in demand overall. The demand curve shows the relationship between price and quantity demanded, but it could remain unchanged even if the quantity demanded changes as a result of a change in price. Simply put, demand refers to the willingness of consumers to purchase a certain quantity of a product at a given price, while quantity demanded refers to the specific amount that consumers are willing to buy at a certain price.
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After a night of karaoke, Tiffany forgets to set her alarm and sleeps through her Economics final exam.A. The Opp. cost of Tiffanys decision is the price to retake the examB. The Opp. cost of Tiffanys decision is the value of everything she could have done instead of staying out lateC. The Opp. cost of Tiffanys decision is a poor grade on the examD. The Opp. cost of Tiffanys decision is a better grade on the the examE. All of the above
Answer: The Opportunity cost of Tiffany's decision is a better grade on the the exam
Explanation:
The opportunity cost is the cost of choosing a particular option out of a set of options a person could have benefited from.
In Tiffany's case her choice going for karaoke night a night before her exam, made her to miss out on her exam which she would have most likely exceled in.
The Opportunity Cost of Tiffany's decision is the value of everything she could have done instead of staying out late. It's about the next best alternative forgone, which in this case was preparing appropriately for the exam rather than staying out late.
Explanation:The opportunity cost of Tiffany's decision to stay out late for karaoke, which resulted in her oversleeping and missing her Economics final exam, would be represented in choice B. The Opportunity Cost of Tiffany's decision is the value of everything she could have done instead of staying out late, such as studying for the exam or getting a good night's sleep to perform well in the exam.
The Opportunity Cost in this scenario is not the price to retake the exam (option A), the poor grade on the exam (option C), or a better grade on the exam (option D), although these could be potential consequences of her decisions. The essence of Opportunity Cost is about the next best alternative forgone, which in this case was preparing appropriately for the exam instead of going out for karaoke.
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"A $100,000 policy with a waiver of premium rider and $30,000 of cash value is in force. The base policy costs $750 and the rider is $50. What is the total premium annually the policyowner must pay to keep the policy in force if the policyowner decides to cancel the rider?"
Answer:
$800 = $750 (base policy) + $50 (rider)
Explanation:
An insurance policy rider is a clause (or provision) that changes the terms of an insurance policy. Usually riders increase the benefits of an insurance policy, e.g. additional coverage. But they can also set limits on policy coverage. Insurance policy riders that provide additional benefits or coverage usually carry an additional charge.
Final answer:
If the policyowner cancels the waiver of premium rider, the total annual premium to be paid to keep the policy in force will be $750, which is the cost of the base policy.
Explanation:
The subject of this question is a mix of Business and Mathematics, focusing on insurance premiums and riders associated with a life insurance policy. The student asks what the total annual premium will be if they decide to cancel a waiver of premium rider on a $100,000 policy that has a $30,000 cash value. The base policy costs $750 annually, and the rider costs an additional $50. Without the rider, the policyholder must pay the cost of the base policy only, which amounts to $750 per year.
Consider the following statement:"Statistics tell us that ice cream sales increase during the summer months. It is also the case that reported burglaries increase during the same period. We can conclude therefore, that increased ice cream sales cause an increase in burglaries."This conclusion of this statement:___________.
Answer:
Post hoc, ergo propter hoc.
Explanation:
The best statement which explains the above scenario is 'post hoc, ergo propter hoc'. This statement is known as an informal fallacy, according to this statement because burglaries were followed by an increase in ice-cream sales then it means that an increase in ice-cream sales is the cause of burglaries. In other words, if 'y' is followed by 'x' then 'x' must have caused 'y'.
Final answer:
The conclusion that increased ice cream sales cause an increase in burglaries is a correlation-causation fallacy.
Explanation:
The conclusion of the statement suggesting that increased ice cream sales cause an increase in burglaries is an example of what is known as a correlation-causation fallacy. This logical fallacy occurs when one assumes that correlation between two variables implies that one causes the other.
In the example provided, while ice cream sales and burglaries both increase during summer months, this does not mean that ice cream sales cause burglaries. A more plausible explanation is that a third variable, such as warm weather during summer, independently increases both ice cream sales and the likelihood of burglaries occurring.
With more people out of their homes enjoying the weather or seeking cool treats like ice cream, opportunities for burglaries may also increase. To determine if there is indeed a causal relationship between two variables, additional factors such as scientific theories, background knowledge, and possibly further scientific testing are required.
It is important not to jump to conclusions based on correlated data without considering other possible explanations or conducting rigorous analysis. Therefore, the correct conclusion would be that there is a correlation between ice cream sales and burglaries, but this does not establish causation.
As a driver, you are responsible for making every effort to avoid becoming involved in a __________.1. Traffic jam2. Police chase3. Collision4. Road rage scandal
Answer:
3. Collision
Explanation:
As a driver, you should follow traffic rules, and driving principles in order to avoid possible collisions with other cars. If you drive properly, and people around you do as well, the probability of a collision is very low.
The other options are incorrect because:
Traffic jams are often impossible to avoid, whether you are a good driver or not.A Police chase is more related to criminal activity. Bad drivers are not necessarily criminals.A Road Rage Scandal should also be avoided by drivers, but these type of events are less dangerous or deadly than a car collision.If at optimum output of 1,000 units, the firm is incurring average variable cost per unit of $3, average fixed cost per unit of $1.50, and selling its output at $7 per unit, total profit is Group of answer choices a) $1,500. b) $2,500. c) $250. d)$7,000.
Final answer:
The total profit for a firm producing 1,000 units with average variable costs of $3 per unit, average fixed costs of $1.50 per unit, and a selling price of $7 per unit is b)$2,500.
Explanation:
Calculating Total Profit for a Firm
To calculate the total profit for a firm at an output of 1,000 units, we need to consider the firm's average costs and the price at which it sells its product. The given information includes:
Average variable cost (AVC) per unit: $3.00
Average fixed cost (AFC) per unit: $1.50
Selling price per unit: $7.00
Quantity produced: 1,000 units
Total profit is calculated by subtracting the total cost from total revenue. The total cost is the sum of the total variable cost and total fixed cost. Here's a breakdown of the calculation:
Total Revenue (TR) = Selling price per unit x Quantity = $7.00 × 1,000 = $7,000Total Variable Cost (TVC) = AVC per unit x Quantity = $3.00 × 1,000 = $3,000Total Fixed Cost (TFC) = AFC per unit x Quantity = $1.50 × 1,000 = $1,500Total Cost (TC) = TVC + TFC = $3,000 + $1,500 = $4,500Total Profit = TR - TC = $7,000 - $4,500 = $2,500Therefore, the total profit at the optimum output of 1,000 units is $2,500.
What is the maximum fine that the Real Estate Commission can impose for a violation of commission rules?
Answer:
varies depending on the state
Explanation:
For example, the Florida Real Estate Commission's (FREC) fines range from $250 to $5,000.
For first offenders, administrative fines range from $250 to $1,000, and the license can be suspended or revoked.
For repeat offenders, administrative fines range from $1,000 to $5,000, and the license can be suspended or revoked.