Explanation:
1. Since my competitor– 'Create your own yogurt' uses artificial flavors, I need to determine what those flavors are, and why they may be better than mine.
2. After noting the recipe used by my competitors, I will improve my own recipe using natural flavors which are medically advisable, while improving on branding and marketing efforts.
3. Price is usually going to be my greatest advantage over my competitor, followed by quality, and so I will consider a reduction in my yogurt prices, while striving at maintaining superior quality.
Answer:
sample response: First, I will focus on lowering prices. I will do this by making sure my costs to run the business are low, and I will start by running the shop myself. I will create a better product by using healthier, better ingredients to attract more customers. Finally, I will be innovative by offering ingredients that aren't sold anywhere else.
Explanation:
Which of the following is a cloud computing element that gives a service provider the ability to dynamically allocate shared physical resources to multiple customers based on each customer's usage demand?
A. On-demand.
B. Resource pooling.
C. Measured Service.
D. Rapid Elasticity.
Answer:
B. Resource pooling.
Explanation:
-On-demand means that clients can get the service when and where they need it.
-Resource pooling refers to grouping resources to provide the service to different customers in a way in which the resources are assigned according to the demand of each client.
-Measured Service is when a company monitors the service that is providing for different purposes like billing.
-Rapid Elasticity is the ability that the company providing the service has to modify the resources according to the demand.
According to the definitions, the answer is that the cloud computing element that gives a service provider the ability to dynamically allocate shared physical resources to multiple customers based on each customer's usage demand is resource pooling.
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.
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.
Suppose that Rihanna sells 1,000 tickets to a concerts at $480 each. If the equilibrium price is $600 per ticket for a fixed supply of 1,000 tickets, what is the value of the additional economic rent that Rihanna could earn if she charged the market clearing price?
Answer:
$120,000
Explanation:
Calculation of the value of the additional economic rent that Rihanna could earn if she charged the market clearing price
The first step to find the total amount of the tickets that Rihanna sold
Since we were told that she sells 1,000 tickets to a concert at $480, this means the total amount will be:
Total amount = 1,000 * $480
= $480,000.
Since the Supply is fixed for 1,000 tickets and equilibrium price per each ticket is $600 which means the total amount will be calculated as :
Total amount = 1,000 * $600
= $600,000.
The last step is to find the additional economic rent
Additional economic rent=$600,000 - $480,000
Additional economic rent=$120,000.
Therefore the value of the additional economic rent will be $120,000
Many store brands use packaging and labeling that is similar to the more expensive national brand. The hope is that the look-alike package will elicit a similar response in consumers that encourages them to purchase the cheaper store brand. This is an example of Group of answer choices
Answer:
Stimulus generalization
Explanation:
Stimulus generalization defines that it is the process of call up for a reason by giving responses. For example we call dog by using the bell so that dog can come for food.
Therefore according to the given situation, Many store brands use similar packaging and labeling to the more expensive big company. The idea is that in customers, the look-alike kit would evoke a similar reaction that allows them to buy the affordable store brand so this is an example of Stimulus generalization
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.
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.
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
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.
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.
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
In a perfectly competitive market, a firm's short-run supply curve is:_________.
a. its average variable cost curve below the point of intersection with its total cost curve.
b. its total cost curve between the shutdown point and the break-even point.
c. its marginal cost curve equal to or above the point of intersection with its average variable cost curve.
d. its total cost curve.
Answer:
B
Explanation:
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
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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In hopes of earning a few dollars on belongings they no longer use or want, some people take their household items to consignment shops, while other people sell their items on eBay. Which method of selling can be argued to have more structural holes?
Answer:
Selling through a consignment shop
Explanation:
Structural holes refer to a situation in which parties in a network are not able to interact.
A consigment shop is a store where you can take things to sell and the owner decides a price to pay and then, the objects are sold to someone else at a higher price and the owner gets a profit.
eBay is an online shopping site that allows people to sell things directly to buyers.
According to this, the answer is that the method of selling that can be argued to have more structural holes is selling through a consignment shop because buyers can't negotiate directly with the sellers which they can do in eBay.
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.
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.
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
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.
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
D. operational excellence
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?
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%
what is a perfect market?
Answer:
A Perfect market is
a market where the sellers of a product or service are free to compete fairly, and sellers and buyers have complete information: The internet has a big part to play in the creation of a perfect market. Compare. imperfect market.
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?
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.
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.
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
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
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.
In the long run, the monopolistically competitive firm's demand curve will:______.
a. become tangent to the ATC curve somewhere to the left of its minimum point.
b. intersect the ATC at its minimum point.
c. intersect the ATC curve somewhere past the minimum point.
d. become tangent to the ATC curve at its minimum point.
Answer:
a. become tangent to the ATC curve somewhere to the left of its minimum point.
Explanation:
In the long-run, monopolistically competitive firms make zero economic profit, because the free entry and exit of firms that is characteristic of this market structure will result in the reduction of economic profits to zero.
However, the reason why the demand curve becomes tangent to the ATC curve somewhere to the left of its minimum point is because the monopolistically competitive firm will still charge a price that is above minimal average cost.
Finally, the exact location of the tangent point is determined by the intersection of marginal revenue and marginal cost, the tangent point being the price that is exactly above this intersection, in other words, the profit-maximizing price.
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?
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.
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
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
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.
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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Wages of $8,000 are earned by workers but not paid as of December 31. Depreciation on the company’s equipment for the year is $11,440. The Office Supplies account had a $350 debit balance at the beginning of the year. During the year, $5,367 of office supplies are purchased. A physical count of supplies at December 31 shows $587 of supplies available. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An analysis of insurance policies shows that $1,800 of unexpired insurance benefits remain at December 31. The company has earned (but not recorded) $700 of interest revenue for the year ended December 31. The interest payment will be received 10 days after the year-end on January 10. The company has a bank loan and has incurred (but not recorded) interest expense of $5,000 for the year ended December 31. The company will pay the interest five days after the year-end on January 5. For each of the above separate cases, prepare adjusting entries required of financial statements for the year ended (date of) December 31.
Answer:
wages expense 8,000 debit
wages payables 8,000 credit
----------------------------------------------------
depreciation expense 11,440 debit
accumulated depreciation equipment 11,440 credit
----------------------------------------------------
supplies expense 5,130 debit
supplies 5,130 credit
----------------------------------------------------
Insurance expense 3,200 debit
Prepaid Insurance 3,200 credit
----------------------------------------------------
Interest Receivables 700 debit
Interest Revenue 700 credit
----------------------------------------------------
interest expense 5,000 debit
Interest payable 5,000 credit
----------------------------------------------------
Explanation:
We follow the accountign rinciples: Debit = Credit
And one line per account
and all accounts posted must have a balance
Additional calculations:
Supplies
beginning + purchase = used + ending
350 + 5,367 = used + 587
used supplies = 350 + 5,367 - 587 = 5,130
Insurance
Beginning unexpired - Ending unexired = expired
5,000 - 1,800 = 3,200
Palmer goes to a truck dealership and asks for a truck capable of handling a 5000-pound load. He makes it clear that it is up to the salesman to select an appropriate truck. Without saying anything about the truck's load-carrying capacity, the salesman selects a certain truck for Palmer. Relying on the salesman's choice, Palmer buys the truck in question. However, the truck can only handle a 2500-pound load. Palmer wants to sue the dealership because he didn't get the truck he desired. Which of the following product liability theories gives Palmer his best chance of recovery?
A. Express warranty
B. Implied warranty of fitness
C. Implied warranty of merchantability
D. Section 402A
Answer:
B. Implied warranty of fitness
Explanation:
An implied warranty of fitness for an specific purpose refers to the fact that if the seller of a product knows that the product will be used for an specific purpose and that the buyer is purchasing that product for that using it that way, then an implied warranty of fitness is formed. In this case, the seller knew that Palmer was going to carry 5,000 pounds in the truck and therefore, by offering a certain truck to Palmer, an implied warranty of fitness was formed stating that the truck could carry that load.
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
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
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
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.
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
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.
The concentration ratio provides a measure of the extent to which an industry Question 63 options: produces a useful product. is dominated by a small number of firms. is earning economic profits. is earning accounting profits.
Answer:
"The concentration ratio provides a measure of the extent to which an industry is dominated by a small number of firms.
Explanation:
Let us assume that there are 20 firms in the paper milling industry with a total sales of $40 billion per annum. From these 20 firms, 4 firms have annual sales totalling $25 billion. With these assumptions made, we can calculate the concentration ratio as the "Annual sales of the 4 firms divided by the Industry's annual sales, and then multiplied by 100." Our calculation produces a concentration ratio of 62.5%. This concentration ratio shows the dominance of these four firms in the paper milling industry. The remaining 16 firms control 37.5% (100% - 62.5%) of the annual sales in the industry. This examples explains what a concentration ratio is and how the calculation can be carried out.
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
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.