Draw a demand curve for lattes and label the curve. Use any prices and quantities you wish, but make your demand curve obey the law of demand. The law of demand states that ______, the ______ the price of a good, the smaller is the quantity demanded.
Answers
Answer:
please check the attached image for the diagram of the demand curve
other things remaining the same
higher
Explanation:
the law of demand states that other things remaining the same, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
the demand curve is downward sloping in accordance to the law of demand.
Answer:
The law of demand states that other things remaining the same, the higher the price of a good, the smaller is the quantity demanded; and the lower the price of a good, the greater is the quantity demanded.
Explanation:
The law of demand states that other things remaining the same, the higher the price of a good, the smaller the quantity demanded. The demand curve slopes downward.
Other things remaining the same, if the price of a good rises, the quantity demanded of that good decreases; and if the price of a good falls, the quantity demanded of that good increases.
Related Questions
Blackstone Technology is planning to invest in some project using external equity. The company has a beta of 1.1. The return on the market is expected to be 14% while the risk free rate is expected to be 3%. If flotation costs are 4%, then what is the cost of equity
Answers
Answer:
Cost of equity = 19.1 %
Explanation:
Cost of equity = required rate of return + flotation cost
The Capital assets pricing model would be used to determined the required rate of return
The capital asset pricing model (CAPM): relates the price of a share to the market risk or systematic risk. The systematic risk is that which affects all the all the economic agents, e.g inflation, interest rate e.t.c
Using the CAPM , the required rate of return is given as follows:
E(r)= Rf +β(Rm-Rf)
E(r) - required return
β- Beta
Rm- Return on market
Rf- Risk-free rate
DATA
E(r) =? , Rf- 3%, Rm-14% , β- 1.1, flotation cost - 4%
E(r) = 3% + 1.1× (14% - 3%) = 15.1 %
Cost of equity = required rate of return + flotation cost
= 15.1 % + 4% = 19.1 %
Cost of equity = 19.1 %
Q 8.32: The financial statements of the Otter Company report net sales of $800,000 and accounts receivable of $40,000 and $20,000 at the beginning of the year and end of year, respectively. What is the accounts receivable turnover for the Otter Company
Answers
Answer:
26.67 times
Explanation:
The financial statements of the Otter company reports a net sales of $800,000
The account receivables at the beginning of the year is $40,000
The account receivables at the end of the year is $20,000
Therefore, the account receivable turnover for the Otter company can be calculated as follows
= $800,000/($40,000+$20,000/2)
= $800,000/($60,000/2)
= $800,000/$30,000
= 26.67 times
Hence the account receivable turnover for the Otter company is 26.67 times
The six sigma approach to quality control: Multiple Choice detects potential problems early to prevent their occurrence. views quality control as a function of the marketing department. allows only 600 defective units per one thousand units produced. relies on a special team of experts to examine every unit of output at the end of the production process.
Answers
Answer:
detects potential problems early to prevent their occurrence.
Explanation:
Six Sigma is a quality business management strategy which helps business organizations to improve the quality of processes, products and services by discovering and eliminating defects, variations or errors. It is a strategic business concept that was developed in 1986 by Motorola.
This ultimately implies that, the six sigma approach to quality control detects potential problems early to prevent their occurrence.
Under the six sigma approach, any process that doesn't provide customer satisfaction or causes challenges in an organisation's process should be eliminated from the system in order to produce quality products and services. It allows only 3.4 defective features for every million opportunities and as such expects processes to be defect free 99.99966 percent of the time.
Generally, there are two (2) main methods of achieving the six sigma approach;
1. DMAIC: define, measure, analyze, improve and control.
2. DMADV: define, measure, analyze, design and verify.
When the dollar strengthens, the reported consolidated earnings of U.S.-based MNCs are ____ affected by translation exposure. When the dollar weakens, the reported consolidated earnings are ____ affected.
Answers
Answer:
c. unfavorably, favorably affected
Explanation:
Since when the dollar is powerful the current of foreign purchased few of U. S dollar and in the case when the dollar is weak the condition is opposite
Therefore at the time of powerful dollar, the consolidated earning MNC are unfavorably affected and at the time of weakens, it is favorably affected
Hence, the correct option is c.
Haver Company currently produces component RX5 for its sole product. The current cost per unit to manufacture the required 65,000 units of RX5 follows. Direct materials $ 5.00 Direct labor 9.00 Overhead 10.00 Total costs per unit $ 24.00 Direct materials and direct labor are 100% variable. Overhead is 80% fixed. An outside supplier has offered to supply the 65,000 units of RX5 for $18.00 per unit. Required: 1. Determine the total incremental cost of making 65,000 units of RX5. 2. Determine the total incremental cost of buying 65,000 units of RX5. 3. Should the company make or buy RX5
Answers
Answer:
1. The total incremental cost of making 65,000 units of RX5
Total Direct Material + Total direct Labour + Variable Overhead cost
Total Direct Material = 65,000 units * $5 = $325,000
Total Direct Labour = 65,000 units * $9 = $585,000
Variable Overhead cost = $65,000 * 10 = $650,000. $650,000 *(1- 80%) = $650,000 *20% = $130,000
Hence, The total incremental cost of making = $325,000 + $585,000 + $130,000 = $1,040,000
2. The total incremental cost of buying 65,000 units of RX5 =
The cost to buy the units = 65,000 units * $18 = $1,170,000
3. The company should be making the RX5 because the total cost of making the 65,000 unit of RX5 is lesser than cost of buying the 65,000 units of RX5
On June 1, Norma Company signed a 12-month lease for warehouse space. The lease requires monthly rent of $550, with 4 months paid in advance. Norma Company records the payment by debiting Prepaid Rent $2,200 and crediting Cash $2,200. At the end of June, what should be the balance of Norma's Prepaid Rent account
Answers
Answer:
Balance = $1,650
Explanation:
As Norma company has paid 4 months rent in advance, therefore at the end of June, norma company will record its 1-month expense as follows
Adjusting entry at the end of June would be
DEBIT CREDIT
Entry
Rent Expense $550
Prepaid Rent $550
The balance on Norma's prepaid expense would be
Prepaid Rent = $2200
Rent Expense = ($550)
Balance = $1,650
If the price elasticity of demand for U.S. automobiles is higher in Europe than it is in the United States, and transport costs are zero, a price-discriminating monopolist would charge:__________.
a. a less profitable price for autos in the United States than in Europe.
b. a lower price for autos in the United States than in Europe.
c. the same price for autos in the United States as in Europe.
d. a higher price for autos in the United States than in Europe.
Answers
Answer:
d. a higher price for autos in the United States than in Europe.
Explanation:
As it is mentioned that the price elasticity of demand in more in Europe as compared with the United States that represents a slight increase in price would decline the immense demand in Europe
Plus the elasticity in the united states is not high that reflects that change in price have a less impact on quantity demanded
Therefore the option d is correct
NorthStar Inc. and The Royal Group have together established The Royal Star Group of hotels. NorthStar owns 49 percent and The Royal Group has a 51 percent share in The Royal Star Group of hotels. However, the management of The Royal Star Group of hotels is separate from its parent companies. What alliance type does this scenario best illustrate?
Answers
Answer: Joint venture
Explanation:
From the question, we are informed that the NorthStar Inc. and The Royal Group have together established The Royal Star Group of hotels and that the NorthStar owns 49 percent and The Royal Group has a 51 percent share in The Royal Star Group of hotels.
This is a joint venture. A joint venture is a form of business arrangement whereby the resources of two or more parties are used together in order to accomplish q particular goal.
During 2014 Carne Corporation transferred inventory to Nolan Corporation and agreed to repurchase the merchandise early in 2015. Nolan then used the inventory as collateral to borrow from Norwalk Bank, remitting the proceeds to Carne. In 2015 when Carne repurchased the inventory, Nolan used the proceeds to repay its bank loan.
On whose books should the cost of the inventory appear at the December 31, 2014balance sheet date?
a. Carne Corporation
b. Nolan Corporation
c. Norwalk Bank
d. Nolan Corporation, with Carne making appropriate note disclosure of the transaction
Answers
Answer:a. Carne Corporation rtdfrtfv xcvbn
Explanation:
Nolan then used the inventory as collateral to borrow from Norwalk Bank, remitting the proceeds to Carne.
Here, goods are temporarily transferred to Nolan corporation to handle financial requirements and agreed to repurchase the merchandise early in 2015, thus the cost inventory will be recorded by Carne corporation.
This is a kind of product financing arrangement.
Hence, the cost of the inventory will appear Carne Corporation at the December 31, 2014 balance sheet date.
Thus, the correct option is a. Carne Corporation.
Broker Freehand and Broker Getrich make a deal that Freehand will take all the listings on the north side of town, which are located near his office and Broker Getrich will take all the listings on the south side near his office. They have agreed not to cross into each other's territories or allow their salespeople to do this. They have also agreed to set their rates at 7% so that the sellers will all pay the same fee. Is this acceptable?
Answers
Answer:
It is not acceptable
Explanation:
The office of Broker Freehand is located on the north side of town while the office of Broker Getrich is located on the south side of town but the office location shouldn't make a basis for such agreement because such agreement is a breach of Sherman Anti trust act
Sherman antitrust act is an act that was made to stop monopoly of a businesses by a group of firms or individuals with the aim of dictating prices of goods and services in the market. The agreement between Broker Freehand and Broker Getrich will eliminate fair market competition for other Brokers and will also set the prices of the listing since the rates charged by both would be fixed at 7%
Memoryjet, Inc has developed a new technology for high-volume jump drives. In order to manufacture their new devices they will need to gear up a new production line, which will cost about $85 million. What kind of bond instrument could they use to help secure the funds they need for their new line
Answers
Answer: Corporate bond
Explanation:
From the question, we are informed that Memoryjet, Inc has developed a new technology for high-volume jump drives and that in order to manufacture their new devices they will need to gear up a new production line, which will cost about $85 million.
The kind of bond instrument could they use to help secure the funds they need for their new line is the corporate bond. This is used by an organization in order for them to raise capital.
As Adam traveled across the state of Tennessee, he stopped and bought gas, a bottle of soda, and a bag of corn chips at a small store that he will probably never visit again. What type of transaction did Adam engage in when he made these purchases?
Answers
Answer:
Solo exchange.
Explanation:
Solo exchange is a type of market exchange where there is a short time horizon for the customer-salesperson relation or interaction. This exchange is conflicting in nature, involving a bargain system.
It involves no bonds or any interest in the other party. Consisting of a simple transaction, this short term interaction involves the parties caring about their interests. So, when Adam bought the items from a small store that will never be revisited constitutes a form of solo transaction.
Sematech is a producer of computer chips. To gain an advantage over other computer chip makers, Sematech focuses on reducing its costs below all of its competitors and has aligned its value chain accordingly. Recently, several of Sematech's competitors have begun to reduce the company's competitive advantage. In response to this threat, Sematech has decided to add production capacity in an effort to lower costs.
Sematech is pursuing which strategy?
A) cost-leadership business strategy
B) product-differentiation business strategy
C) cost-leadership corporate strategy
D) product-differentiation corporate strategy
Answers
Answer: A) cost-leadership business strategy
Explanation:
Cost leadership business strategy is a
strategy of getting a competitive advantage by having the lowest cost of operation in the entire industry. makes a reasonable profit on each sale because you've reduced costs.Here, To gain an advantage over other computer chip makers, Sematech focuses on reducing its costs below all of its competitors .
where as product differentiation is a technique use to differentiate a product from similar offerings on the market.
So, Sematech is pursuing a cost-leadership business strategy.
So, correct option is (A).
Sematech is pursuing the cost-leadership business strategy.
What is Cost leadership business strategy?Cost leadership business strategy is a strategy of having low operating costs across the industry, make a good profit on every sale because you reduce costs.
Here, In order to make more profit than other chipmakers, Sematech focuses on lowering its costs below all of its competitors.
Whereas product classification is the process of distinguishing a product from the same products on the market.
Therefore, Sematech pursues a cost-leadership business strategy. Option A is the correct answer.
To learn more about cost-leadership, refer:
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Which statements are TRUE? I NASDAQ Global Market stocks have more stringent listing standards II NASDAQ Global Market stocks have less stringent listing standards III NASDAQ Capital Market stocks have more stringent listing standards IV NASDAQ Capital Market stocks have less stringent listing standards
Answers
Answer:
I. NASDAQ Global Market stocks have more stringent listing standards.
IV. NASDAQ Capital Market stocks have less stringent listing standards.
Explanation:
The true statements about the NASDAQ are;
I NASDAQ Global Market stocks have more stringent listing standards.
IV NASDAQ Capital Market stocks have less stringent listing standards.
As a financial responsibility, the sponsoring broker must keep a journal
for each seller client.
that is filled out once per year.
that is in the back of the employee manual.
for each escrow account.
Answers
The federal budget is balanced and the economy is on the upward-sloping portion of the Laffer curve. Then, tax rates are cut and government purchases are increased. Is a budget deficit inevitable?
Answers
Answer:
Yes, the budget deficit is inevitable.
Explanation:
When the economy is on the upward-sloping portion of the Laffer Curve, any increase in tax rates will produce more revenue, and any decrease in tax rates will produce less revenue. This is because tax rates are not yet at the optimal point of the Laffer curve.
In this case, the federal budget was balanced, but the goverment cut tax rates while being on the upward-sloping portion of the Laffer curve, which means that tax revenue decreased. However, at the same time the government increased government purchases, and the combination of less tax revenue and more government spending will naturally result in a budget deficit.
Inspiring and motivating people with a mission or purpose is a ______________ for developing an organization that can learn and adapt. Multiple Choice necessary and sufficient condition necessary but not sufficient condition goal but not a necessary condition goal and a required precondition
Answers
The correct answer is B. Necessary but not sufficient condition goal
Explanation:
A necessary condition for a goal refers to a condition or factor that is mandatory to achieve a goal. For example, to obtain a bachelor's degree a necessary condition is to complete a bachelor's program. Besides this, a condition is sufficient if no other conditions are required, this applies to the previous condition as the main requirement for a bachelor's degree is to complete all the courses or program.
In this context, inspiring and motivating people in the goal of making an organization that can learn and adapt is a necessary condition because organizations require cooperation and group work and this is achieved if people of the organization feel inspired and motivated. However, this is not the only condition, and therefore it is not sufficient as other factors such as a budget, a clear plan, etc. are needed.
In the consumer purchase decision process for Coppertone products, the problem recognition stage is typically triggered either by "going somewhere" like a vacation, beach, or pool, or through what
Answers
Answer:
heightened awareness of the need to protect skin regularly.
Explanation:
There are five stages in the consumer purchase decisions, they are; Problem recognition stage, information search, evaluation of alternatives, purchase decision and post purchase evaluation.
The problem recognition stage is where the consumer have a need hence recognizes that such need or problem could be met by a product or service in the market. In this stage, the consumer or buyer knows exactly the difference between his or her actual need and some need that needed to be met. Consumer's need in this stage could be heightened through internal action such as being thirsty or hungry and then external factors such as spoken words.
With regards to the above scenario, the customer have a specific need which is heightening awareness of the need to protect his or her skin regularly but knew quite well that such need could be met either by going to a pool, beach or go for a vacation.
"ABC Corporation has declared a rights offering to stockholders of record on Friday, December 10th. Under the offer, shareholders need 10 rights to subscribe to 1 new share at a price of $19. Fractional shares can be rounded up to purchase 1 full share. As of the ex date, the stock is trading at $24. The value of the right is:"
Answers
Answer:
$0.50
Explanation:
Calculation for the value of the right
Based on the information given we were told that As of the ex date, the stock was trading at $24 which means that the market price of the amount of $24 have been adjusted on the ex date by the exchange where the stock trades.
Using this formula
Value of the right =(Trading stock- Price of shares to subscribe)/Right to subscribe
Let plug in the formula
Value of the right=($24-$19)/10
Value of the right÷$5/10
Value of the right=$0.50
Therefore the value of the right will be $0.50
BrainTrust Company produces and sells educational toys for children. In pricing its product, the company needs to make sure it properly estimates its costs. The company can safely estimate that transportation is what percentage of total distribution cost
Answers
Complete Question:
BrainTrust company produces and sells educational toys for children. In pricing its product, the company needs to make sure it properly estimates its costs. The company can safely estimate that transportation is what percentage of total distribution cost?
a. 50%
b. 75%
c. 30%
d. 100%
Answer:
a. 50%
Explanation:
In this scenario, BrainTrust Company produces and sells educational toys for children. In pricing its product, the company needs to make sure it properly estimates its costs. The company can safely estimate that transportation is 50% of total distribution cost.
In supply chain management, the total distribution cost can be defined as the overall expenses incurred by a manufacturer in the process of delivering finished goods and services from the production stage to the final consumer. The total distribution cost can either be direct or indirect expenses incurred on insurance, handling, storage, shipping, packing and logistics.
Generally, the total amount spent on the movement of goods and services from one location to another, usually accounts for half (50%) of the overall expenses incurred in total distribution cost.
The following production data were taken from the records of the Finishing Department for July:
Inventory in process, March 1, 30% completed 4,000 units
Transferred to finished goods during March 38,500 units
Ending work in process during March, 40% completed 3,500 units
Determine the total equivalent units for direct materials, assuming that the first-in, first-out method is used to cost inventories. Assume that all direct materials are placed in process at the beginning of production.
Answers
Answer:
38,000 units
Explanation:
The computation of the total equivalent units for the direct material using the FIFO method is shown below:
= Completed and transferred units × completion percentage + ending work in process units × completion percentage
= (38,500 units - 4,000 units) × 100% + 3,500 units × 100%
= 34,500 units + 3,500 units
= 38,000 units
Maximizing the efficiency of the manufacturing or product development process to minimize costs is referred to as _________. A. managerial skill B. business superiority C. maintenance strategy D. operational excellence
Answers
D. operational excellence
Suppose the price for one gallon of gasoline rises from $3.50 to $4.00 and the price of one gallon of milk rises from $3.00 to $3.20 . If the CPI rises from 120 to 132, then people likely will buy:_________.
a. more gasoline and more milk.
b. more gasoline and fewer milk.
c. less gasoline and more milk.
d. less gasoline and fewer milk.
Answers
Answer:
c. less gasoline and more milk.
Explanation:
The increase in price of gasoline = $3.50 to $4
The increase in price of milk = $3 to $3.20
The increase in CPI = 120 to 132
Current price as per CPI of Gasoline should be = (132 /120) * $3.5 = ($3.85)
The price of milk considering the CPI = (132/120) * $3 = 1.1*3 = $3.3
Since the actual price of milk is lower than the price of $3.3. thus more of milk will be demanded. So option c. “less gasoline and more milk” is correct.
Suppose that total sales in an industry in a particular year are $600 million and sales by the top four sellers are $200 million, $150 million, $100 million, and $50 million, respectively. We can conclude that:__________.
A. price leadership exists in this industry
B. the concentration ratio is more than 80 percent.
C. the firms in this industry face a kinked demand curve.
D. this industry is a differentiated oligopoly.
Answers
Answer: A: price leadership exists in this industry
Explanation:
hope this helps
Suppose that the total sales in an industry in a particular year are $600 million and sales by the top four sellers are $200 million, $150 million, $100 million, and $50 million, respectively. From this we can conclude that the concentration ratio is more than 80 percent. Thus option (B) is correct.
What is the Concentration ratio?The concentration ratio is calculated as the sum of the market share percentage held by the largest specified number of firms in an industry.
The concentration ratio ranges from 0% to 100%, and an industry's concentration ratio indicates the degree of competition in the industry.
A concentration ratio that rages from 0% to 50% may indicate that the industry is perfectly competitive and is considered a low concentration.
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Explain law of demand and supply along with graphical representation and how can we determine the price of any commodity?
Answers
Answer:
The Law of Demand and Supply help us understand how prices are reached in a market.
The Law of Demand states that the higher the price of a good, the lesser the quantity demanded of that good by consumers. Looking at the graph attached, you will see that the demand curve is downward sloping. This is because of the law of demand.
Notice that when the price of the good is $20, there are 4,000 units demanded but when the price goes up to $30, there are now 3,000 units demanded. Consumers demand less of a good as it gets more expensive because it increases their opportunity cost. This means that the money they are spending on a good could be spent elsewhere and if that amount keeps rising, it reduces the quantity of other goods they can get.
The Law of Supply applies to suppliers and states that as prices increases, Suppliers will supply more goods and services because they will have the incentive of more profit guiding them. For that reason the Supply curve will be upward sloping. Notice how at a price of $20, the supply is only 2,000 but when the price rises to 30, the supply increases to 3,000.
The price of a commodity is determined at the Equilibrium point where the Demand and Supply Curves intersect. At this point, the amount that people are willing to pay for a certain quantity of goods matches the price that suppliers are willing to supply the same quantity of goods for. In the graph you will notice that price is $30 and the quantity is 3,000.
1. An updated schedule is: a. A schedule that reflects new design modifications. b. A revised schedule reflecting project information at a given data date regarding completed activities, in-progress activities, and changes in future work. c. A schedule that incorporates subcontractors’ schedules. d. A schedule with resources and budget.
Answers
Answer: A revised schedule reflecting project information at a given data date regarding completed activities, in-progress activities, and changes in future work
Explanation:
An updated schedule is a schedule which has been carefully analysed and revised and hence reflects the information regarding a project at a given data date regarding the activities that have already been completed, the activities that are still in progress and the changes that will be made in the future work.
A customer asks an agent for a valuation of his securities portfolio. Because the agent does not want to cause the customer to panic and sell his shares at a loss, the agent inflates the value of the stock. Under the Uniform Securities Act, this action is A) permitted because the agent was not recommending a transaction B) permitted because the agent determined that selling the securities was not suitable C) not permitted because the agent must not attempt to influence the market value of a security D) not permitted because the agent must not deceive the customer by misstating a material fact
Answers
Answer: not permitted because the agent must not deceive the customer by misstating a material fact.
Explanation:
From the question, we are informed that a customer asks an agent for a valuation of his securities portfolio and that because the agent does not want to cause the customer to panic and sell his shares at a loss, the agent inflates the value of the stock.
It should be noted that under the Uniform Securities Act, this action is not allowed because the agent must not deceive the customer by misstating a material fact. An agent should not deceive a customer and ethical behavior is also required.
In January of 2009, the Falwell Company began construction of its own manufacturing facility. During 2009, $6,000,000 in costs were incurred evenly throughout the year. Falwell took out a $2,500,000, 10% construction loan at the beginning of the year. The company had no other interest-bearing debt. What amount of interest should Falwell capitalize in 2009
Answers
Answer:
$250,000
Explanation:
Calculation of the amount of interest should Falwell capitalize in 2009
Based on the information given we were told that the company took out the amount of $2,500,000, 10% of the construction loan at the start of the year. Therefore the amount of interest that Falwell should capitalize in 2009 will be calculated as:
Interest = $2,500,000*10%
Interest =$250,000
Therefore the amount of Falwell interest should be $250,000
If the distribution of the gains from growth matters, growth in median income is: Multiple Choice the same as growth in per capita income. a less informative measure of growth than growth in per capita income. a more informative measure of growth than growth in per capita income when the distribution of income is equitable. a more informative measure of growth than growth in per capita income when the gains from growth are concentrated on a small segment of the population.
Answers
Answer:
a more informative measure of growth than growth in per capita income when the gains from growth are concentrated on a small segment of the population.
Explanation:
Average earnings will look greater than even smaller parts of the community earn big, however, the average will give the appropriate impression on the ground because it is not biased with excessive ends.
Therefore in the case when there is benefit allocation arise from the growth in the median so it would lead to a concentration on the small population segment
Laura Pine worked as a welder for BCD Company for ten years before it changed its rigid tuition reimbursement policy. This year, the new education support policy will allow her to take any course that interests her, not just a course in her field of employment. She is very excited about this and has enrolled in two management courses. She has always thought she had the ability to become a good manager. Laura is attempting to satisfy her ____ needs.
Answers
Answer: self-actualization
Explanation:
From the question, we are informed that Laura Pine worked as a welder for BCD Company for ten years before it changed its rigid tuition reimbursement policy.
We are further informed that this year, the new education support policy will allow her to take any course that interests her, not just a course in her field of employment and that she is very excited about this and has enrolled in two management courses.
She has always thought she had the ability to become a good manager. This shows that Laura is attempting to satisfy her self actualization needs.