In the long run, economic profit earned by a monopolistically competitive firm is zero because of the lack of barriers to entry. This allows other firms to enter the market easily, increasing competition and driving down prices until the economic profit reaches zero.
In the long run, economic profit earned by a monopolistically competitive firm may be positive because of product differentiation. This is because monopolistically competitive firms are able to differentiate their products in some way, whether it be through quality, design, or branding, which allows them to have some control over the price they charge.
However, over time, other firms may enter the market with similar products, reducing the firm's market power and ultimately leading to zero economic profit. The lack of barriers to entry and production of homogenous goods would make it difficult for a monopolistically competitive firm to earn economic profit in the long run. Advertising and product promotion may help a firm differentiate its product and potentially earn economic profit, but it is not the sole determinant.
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Types of Economies : a Traditional Economies are very common today b. Market and mixed economies are the most common today ob c. None of the answers displayed is correct d command economies are usually found in a democratic system
Market and mixed economies are the most common types of economies today. The correct option is b.
A market economy is an economic system where supply and demand drive the production and distribution of goods and services. In this type of economy, businesses and individuals make decisions based on their self-interest, with little government intervention.
On the other hand, a mixed economy combines elements of both market and command economies. In a mixed economy, some industries are controlled by the government, while others are left to the private sector. This type of economy aims to balance the advantages of both systems, promoting economic growth and stability while ensuring that essential services are provided for all citizens.
Traditional economies, which are primarily based on customs, beliefs, and practices passed down through generations, are not very common today. They can still be found in some remote communities where people rely on subsistence agriculture and barter systems.
Command economies are typically found in countries with authoritarian or communist political systems, where the government has significant control over the production and distribution of goods and services. In these economies, central planning authorities determine what goods and services are produced, how they are distributed, and the prices at which they are sold. Command economies are less common today, with countries such as North Korea and Cuba being examples of this system.
In conclusion, market and mixed economies are the most prevalent types of economic systems in the modern world, providing a balance between government involvement and individual freedom to drive economic growth and stability.
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when the interest rate in an economy decreases, it is likely the result of either a/an or a/an . group of answer choices increase in the federal budget deficit; open market sale of securities by the fed. increase in the federal budget deficit; open market purchase of securities by the fed. contractionary policy; open market sale of securities by the fed. expansionary policy; open market purchase of securities by the fed.
When the interest rate in an economy decreases, it is likely the result of either an expansionary policy or an open market purchase of securities by the Fed.
An interest rate is the cost of borrowing money or the return earned on an investment, expressed as a percentage of the principal amount. When a borrower takes out a loan, the interest rate is the amount the lender charges the borrower for the use of the money. When an investor makes a deposit or purchases a bond, the interest rate is the amount the financial institution pays the investor for the use of their funds.
Interest rates can be fixed or variable, depending on the terms of the loan or investment. Fixed interest rates remain the same for the entire term of the loan or investment, while variable interest rates can change over time, based on market conditions.
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using this set of consumer preferences, which combination of goods doesn't make sense for a consumer to purchase if they maximize their utility? question 15 options: a consumer has a budget of $12 and buys 5 slices of pizza and 4 glasses of beer, if the price of pizza is $1 per slice and beer is $1 per glass a consumer has a budget of $9 and buys 3 slices of pizza and 3 glasses of beer, if the price of pizza is $2 per slice and beer is $1 per glass a consumer has a budget of $6 and buys 2 slices of pizza and 2 glasses of beer, if the price of pizza is $2 per slice and beer is $1 per glass a consumer has a budget of $6 and buys 4 slices of pizza and 2 glasses of beer, if the price of both are $1
To determine which combination of goods doesn't make sense for a consumer to purchase, we need to consider the concept of marginal utility. Marginal utility is the additional satisfaction or usefulness a consumer derives from consuming one more unit of a good or service. When a consumer maximizes their utility, they will allocate their budget in a way that maximizes their overall satisfaction.
In the first option, the consumer spends $5 on pizza and $4 on beer, resulting in a total expenditure of $9. In the second option, the consumer spends $6 on pizza and $3 on beer, also resulting in a total expenditure of $9. In the third option, the consumer spends $4 on pizza and $2 on beer, which adds up to a total expenditure of $6. In the fourth option, the consumer spends $4 on pizza and $2 on beer, with a total expenditure of $6.
Therefore, the combination of goods that doesn't make sense for a consumer to purchase if they maximize their utility is option 1, where the consumer spends $5 on pizza and $4 on beer. Since the price of both pizza and beer is $1, the consumer could have purchased 5 slices of pizza and 7 glasses of beer with their $12 budget. However, in option 1, the consumer only purchases 5 slices of pizza and 4 glasses of beer. This indicates that the consumer may not be maximizing their utility and could have potentially allocated their budget in a more efficient way.
In conclusion, understanding the concept of marginal utility and maximizing utility is crucial in making efficient consumption choices.
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A departmental contribution to overhead report is based on____________ service department allocations controllable costs uncontrollable costs
A departmental contribution to overhead report is based on service department allocations and controllable costs. This report helps in determining the profitability of each department by allocating indirect costs to each department.
The indirect costs include overhead expenses such as rent, utilities, and other expenses that cannot be directly attributed to a particular department.
The service department allocations are the cost of services provided by one department to another department within the organization. These costs are allocated based on the usage of the services. For example, the IT department may provide services to the marketing department, and the cost of these services will be allocated to the marketing department based on the usage.
Controllable costs are expenses that can be managed by the department managers, such as salaries, supplies, and materials. These costs can be controlled by making changes to the department's operations or by reducing expenses.
Uncontrollable costs are expenses that cannot be managed by the department managers, such as rent or property taxes. These costs are allocated to the departments based on a predetermined formula.
In summary, a departmental contribution to overhead report is based on service department allocations and controllable costs. This report helps in determining the profitability of each department and identifying areas where expenses can be reduced or managed.
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Which term refers to the integrated process of recruiting, developing, supervising, and compensating employees?A) job analysisB) HR alignmentC) strategic planningD) talent management
The term that refers to the integrated process of recruiting, developing, supervising, and compensating employees is D) talent management.
Talent management involves identifying and cultivating high-potential employees, creating development plans, providing training and coaching, setting performance expectations, and rewarding employees for their contributions. It is a crucial aspect of HR management that helps organizations attract, retain, and develop top talent to achieve their strategic goals. By investing in talent management, organizations can improve their workforce's performance, engagement, and retention, which leads to higher productivity, profitability, and employee satisfaction. Effective talent management requires a strategic approach that aligns HR practices with the organization's overall goals and values.
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On July 31, 2022, Blossom Company had a cash balance per books of $6,240.00. The statement from Dakota State Bank on that date showed a balance of $7,790.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for Jully was $24.00 2. The bank collected $1,620.00 from a customer for Blossom Company through electronic funds transfer. 3. The Jully 31 receipts of $1,294.30 were not included in the bank deposits for Jully. These receipts were deposited by the company in a night deposit vault on July 31. 4. Company check No. 2480 issued to L. Taylor, a creditor, for $354.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $345.00 5. Checks outstanding on July 31 totaled $1,933.10. 6. On July 31, the bank statement showed an NSF charge of $675.00 for a check received by the company from W. Krueger, a customer, on account Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first.) BLOSSOM COMPANY Bank Reconciliation Adjusted cash balance per books Outstanding checks NSF check Deposits in transit Error in recording check No. 2480 Electronic funds transfer received Bank service charge Cash balance per books Prepare the necessary adjusting entries at July 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) LINK TO VIDEO Date Account Titles and Explanation Debit Credit July 31. (To record electronic funds transfer received by bank) 31. (To record NSF check) 31. (To correct error in recording check) 31. (To record bank service charge)
Bank Reconciliation as of July 31:
Adjusted cash balance per books: $6,240.00
Add: Deposits in transit: $1,294.30
Less: Outstanding checks: $1,933.10
Less: NSF check: $675.00
Adjusted cash balance per bank: $7,226.20
List items that increase balance as per bank & books first:
Deposits in transit: $1,294.30
Electronic funds transfer received: $1,620.00
List items that decrease balance as per bank & books first:
Outstanding checks: $1,933.10
NSF check: $675.00
Bank service charge: $24.00
Error in recording check No. 2480: $9.00
Adjusting entries at July 31:
To record electronic funds transfer received by bank:
Debit Cash $1,620.00
Credit Accounts Receivable $1,620.00
To record NSF check:
Debit Accounts Receivable $675.00
Credit Cash $675.00
To correct error in recording check:
Debit Accounts Payable $9.00
Credit Cash $9.00
To record bank service charge:
Debit Bank Service Charge Expense $24.00
Credit Cash $24.00.
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first simple bank pays 9.1 percent simple interest on its investment accounts. first complex bank pays interest on its accounts compounded annually. what rate should first complex bank set if it wants to match first simple bank over an investment horizon of 11 years? (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Answer:
Explanation: (a)
Given:
PV = 75300 (indicates the amount of loan)
Rate = 7.7%/12 (indicates monthly rate of interest)
Nper = 36 (indicates the period)
FV = 0 (indicates the future value, if any)
PMT = ? (indicates the amount of monthly payment)
Monthly Payment =PMT(Rate,Nper,PV,FV)
= PMT(7.7%/12,36,75300,0)
= 2349.22
Monthly Payment = $2,349.22
(b)
Effective Annual Rate = (1+APR)^1 - 1
Effective Annual Rate = (1 + 0.077/12)^12 -1
Effective Annual Rate = 7.98%
the lawrence foundation, a private, not-for-profit organization, received cash contributions which were restricted by the donors for the acquisition of property, plant and equipment. in which section of the statement of cash flows would these cash contributions be reported?
The cash contributions received by The Lawrence Foundation that were restricted by donors for the acquisition of property, plant and equipment would be reported in the investing activities section of the statement of cash flows.
This section reflects the cash inflows and outflows related to the purchase or sale of long-term assets, such as property, plant and equipment.
Since the cash contributions were received specifically for the acquisition of such assets, they would fall under the category of investing activities. This section of the statement of cash flows is important as it provides information on how the company is investing in its long-term growth and sustainability.
It's worth noting that restricted cash contributions are not considered revenue, as they are earmarked for a specific purpose and cannot be used for other expenses. Therefore, they are not included in the operating activities section of the statement of cash flows, which focuses on the company's day-to-day operations.
Overall, by reporting these restricted cash contributions in the investing activities section, The Lawrence Foundation can provide a clear picture of how it is investing in its long-term growth and sustainability, which is important for stakeholders and investors.
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Marketers take advantage of ________ when they extend a brand name associated with one line of products to another.
Marketers take advantage of brand equity when they extend a brand name associated with one line of products to another. Brand equity refers to the value that a brand has in the market, which includes consumer perceptions, attitudes, and experiences with the brand.
By leveraging the existing brand equity, marketers can increase the chances of success for the new product line, as consumers may be more likely to try the new product if they already have a positive association with the brand. However, if the new product does not live up to the expectations set by the existing brand, it can also harm the brand equity in the long term. Brand extension allows companies to leverage the existing brand equity and consumer trust to introduce new products or services under the same brand name. This strategy can help increase brand recognition, reduce marketing costs, and expand the company's market share.
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https://brainly.com/question/14293418#SPJ11Suppose that the business cycle in the united states is best described by rbc theory and that a new technology increases productivity. question content area bottom left part 1
show the effect of the new technology in the market for loanable funds. draw a demand for loanable funds curve. label it dlf subscript 0. draw a supply of loanable funds curve. label it slf subscript 0. draw a point at the equilibrium quantity of loanable funds and real interest rate. label it 1. draw a curve that shows the effect of the increase in productivity. label it. d
raw a point at the new equilibrium quantity of loanable funds and real interest rate. label it 2.
The new technology that increases productivity would likely lead to an increase in investment, as businesses would want to take advantage of the new technology to produce more efficiently.
The effect of new technology on the market for loanable funds, taking into account the business cycle and RBC theory by the following steps:
Step 1. Start by drawing the initial demand for loanable funds curve (DLF0) and supply of loanable funds curve (SLF0) on a graph, with the real interest rate on the vertical axis and the quantity of loanable funds on the horizontal axis.
Step 2. Identify the point where DLF0 and SLF0 intersect. This point represents the initial equilibrium quantity of loanable funds and real interest rate. Label this point as point 1.
Step 3. According to the RBC theory, an increase in productivity due to new technology leads to higher output and income. This, in turn, leads to an increase in the supply of loanable funds as households save more from their increased income.
Step 4. Reflect this change by drawing a new supply of loanable funds curve (SLF1) that shifts to the right of the initial curve (SLF0).
Step 5. Identify the new point where the demand for loanable funds curve (DLF0) intersects with the new supply of loanable funds curve (SLF1). This point represents the new equilibrium quantity of loanable funds and real interest rate after the increase in productivity. Label this point as point 2.
In summary, when new technology increases productivity in an economy described by the RBC theory, the supply of loanable funds increases, leading to a new equilibrium quantity of loanable funds and real interest rate. This can be illustrated through the shift in the supply curve from SLF0 to SLF1 and the movement from point 1 to point 2 on the graph.
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Suppose the health department in a small country has been given a budget of $6 million to spend on new cancer treatments. They are considering the mutually independent treatments (including no treatment) shown in the table below, along with their costs and QALYs gained. Because the treatments are mutually independent, each treated individual can receive only one of the treatments.
Calculate the incremental cost, incremental QALYs and incremental cost- effectiveness ratios for all economically rational strategies.
Carefully graph all of the treatment options. Show which options are dominant options using both of our definitions of dominance (strictly and extended). Please draw the graph to scale using either a computer or graph paper.
Treatment QALYs Cost (in million $)
A 100 0.8
B 110 1.4
C 140 1.8
D 50 0.3
E 120 1.2
F 230 4.5
G 200 3.4
The most economically rational strategies are either to choose treatment option E or G. Treatment E costs $1.2 million and provides 120 QALYs, while treatment G costs $3.4 million and provides 200 QALYs.
To calculate the incremental cost, incremental QALYs, and incremental cost-effectiveness ratios, we need to compare each treatment option with the next best alternative.
To begin with, we will plot the data on a graph, where the x-axis represents the incremental cost and the y-axis represents the incremental QALYs gained. We can also label each point with its corresponding treatment.
The line connecting treatments A and B represents the incremental cost-effectiveness ratio (ICER) between the two treatments. We can calculate the ICER for each treatment option by dividing the difference in cost by the difference in QALYs gained between that treatment and the next best alternative. The results are as follows:
We cannot calculate the ICER for treatments A and D since they are the cheapest and the least effective treatments, respectively, and there is no next best alternative. Therefore, we mark these points as "dominated" on the graph.
Now, we can determine the dominant treatment options using both the strict and extended definitions of dominance.
According to the strict definition of dominance, a treatment option is considered dominant if it has a lower incremental cost and a higher incremental QALYs than another treatment option.
From the graph and the table, we can see that treatment option C is strictly dominant over treatment option B, and treatment option G is strictly dominant over treatment option F.
According to the extended definition of dominance, a treatment option is considered dominant if it has a lower or equal incremental cost and a higher incremental QALYs than another treatment option.
From the graph and the table, we can see that treatment option E is extendedly dominant over treatment option C, and treatment option G is extendedly dominant over treatment option B.
Therefore, the dominant treatment options are as follows:
A: dominated by all other optionsB: dominated by GC: dominated by ED: dominated by all other optionsE: dominantF: dominated by GG: dominantSo, the most economically rational strategies are either to choose treatment option E or G. Treatment E costs $1.2 million and provides 120 QALYs, while treatment G costs $3.4 million and provides 200 QALYs.
Therefore, the incremental cost-effectiveness ratio for treatment E is 10 thousand dollars per QALY gained, and for treatment G is 17 thousand dollars
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The research division of a large consumer electronics company has developed a prototype of a radio that management has decided to produce if the IRR exceeds 11%. Production costs in the current period will be $1,399,100. The radios will produce a cash flow of $500,000 a year for 4 years. Use the IRR rule to determine if the project is acceptable.
The IRR of the project is approximately 13.95%, which exceeds the minimum required rate of return of 11%. Therefore, the project is acceptable based on the IRR rule.
To determine the IRR of the project, the present value of the cash flows must be calculated and the discount rate that makes the net present value equal to zero must be found.
Using a financial calculator or spreadsheet software, the IRR of the project is approximately 13.95%, which is greater than the minimum required rate of return of 11%.
This means that the project is expected to generate a return that is greater than the cost of capital and is therefore acceptable based on the IRR rule.
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The December 31, 2014 worksheet for Albertville Grill showed the following amounts related to the Depreciation Expense account:
(a). In the Trial Balance debit column: $1,745
(b). In the Adjustments debit column: $1,125
(c). In the Adjusted Trial Balance debit column: $1,870
What is the proper balance in the Depreciation Expense account on January 1, 2015, after all closing entries for 2014 have been posted, but before any 2015 transactions are recorded?
As a result, the Depreciation Expense account has $1,000 in it as of January 1st, 2015.
The term "depreciation" refers to two distinct aspects of the same concept: first, the actual decline in an asset's fair value over time due to use and wear, such as the annual decline in value of factory equipment, and second, the allocation in financial statements of the asset's original cost to the periods in which it is used (depreciation with the matching principle).
The act of reallocating, or "writing down," the cost of a material asset (such equipment), over the period of that asset's useful life, is known as depreciation. Additionally, it alludes to a decrease in asset worth. For accounting and tax purposes, organizations depreciate long-term investments.
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correct question is.
Question: The December 31, 2014, Worksheet For Albertville Grill Showed the Following Amounts Related to The Depreciation Expense Account: (A). In The Trial Balance Debit Column: $1,745 (B). In The Adjustments Debit Column: $1,125 (C). In The Adjusted Trial Balance Debit Column: $1,870 What Is the Proper Balance In The Depreciation Expense Account On January 1, 2015,
The December 31, 2014, worksheet for Albertville Grill showed the following amounts related to the Depreciation Expense account:
(a). In the Trial Balance debit column: $1,745
(b). In the Adjustments debit column: $1,125
(c). In the Adjusted Trial Balance debit column: $1,870
What is the proper balance in the Depreciation Expense account on January 1, 2015, after all closing entries for 2014 have been posted, but before any 2015 transactions are recorded?
Select one:
a. $1,745.
b. $1,870.
c. $0.
d. $1,135.
e. $1,125
Transformational leadership theory emphasizes generating excitement in followers through:___________
Transformational leadership theory emphasizes generating excitement in followers through inspirational motivation, intellectual stimulation, individualized consideration, and idealized influence. Inspirational motivation involves providing a vision that inspires and motivates followers to achieve their potential.
Intellectual stimulation involves challenging followers to think critically and creatively, and to innovate in their approach to problem-solving. Individualized consideration involves treating each follower as an individual, recognizing their unique strengths and weaknesses, and providing personalized support and guidance. Idealized influence involves modeling ethical behavior and values that followers can aspire to emulate. Through these four components, transformational leaders seek to create a sense of shared purpose and inspire followers to achieve more than they thought possible. This approach has been shown to result in higher levels of follower engagement, motivation, and commitment to the organization's goals.
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Price is seen as a constant to the individual seller in a perfectlycompetitive market because:Question 11 5 Price is seen as a constant to the individual seller in a perfectly competitive market because: Othere are no possible substitutes for the seller's product o the seller's demand curve is
Price is seen as a constant to the individual seller in a perfectly competitive market because the seller's demand curve is perfectly elastic.
In a perfectly competitive market, there are many buyers and sellers who are all selling identical products. This means that each seller has no control over the market price and must accept the prevailing price for their product. In this situation, the demand curve for each individual seller is perfectly elastic, meaning that any increase in price will cause the quantity demanded to drop to zero. Therefore, the individual seller in a perfectly competitive market must accept the market price as a constant and adjust their output accordingly to maximize profit.
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tbt stock pays a $3 dividend, semi-annually, and has earning per share of $9. if the stock is currently trading at $60, what is the dividend yield percentage? 5.00%. 33.33%. 10.00% 66.67%.
The dividend yield percentage is option c 10%.To calculate the dividend yield percentage, we need to divide the annual dividend payment by the current stock price and multiply by 100.
So, in this case, the calculation would be as follows:
The dividend yield percentage is a financial ratio that shows the percentage return an investor earns from dividend payments. In this case, we are given that TBT stock pays a $3 dividend semi-annually, which means that the annual dividend payment is $6 ($3 x 2). The earnings per share are $9, and the current stock price is $60.
Annual dividend = (Semi-annual dividend) x 2 = $3 x 2 = $6
The dividend yield percentage is the annual dividend per share divided by the current stock price, expressed as a percentage:
Dividend yield percentage = (Annual dividend per share / Stock price) x 100%
= ($6 / $60) x 100%
= 10%
Therefore, the dividend yield percentage is 10%.
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Woodridge Corporation manufactures numerous products, one of which is called Alpha32. The company has provided the following data about this product: Unit sales (a) 90,000 Selling price per unit $ 99.00 Variable cost per unit $ 78.00 Traceable fixed expense $ 1,690,000 Management is considering increasing the price of Alpha32 by 4%, from $99.00 to $102.96. The company’s marketing managers estimate that this price hike would decrease unit sales by 5%, from 90,000 units to 85,500 units. Assuming that the total traceable fixed expense does not change, what net operating income will product Alpha32 earn at a price of $102.96 if this sales forecast is correct? Multiple Choice $556,400 $2,246,400 $444,080 $2,134,080
The net operating income that product Alpha32 will earn at a price of $102.96 if the sales forecast is correct is $444,080.
Here's how to calculate it:
Current revenue = 90,000 units x $99.00 = $8,910,000
Current variable costs = 90,000 units x $78.00 = $7,020,000
Current contribution margin = $8,910,000 - $7,020,000 = $1,890,000
Current traceable fixed expense = $1,690,000
Current net operating income = $1,890,000 - $1,690,000 = $200,000
New revenue = 85,500 units x $102.96 = $8,799,780
New variable costs = 85,500 units x $78.00 = $6,663,000
New contribution margin = $8,799,780 - $6,663,000 = $2,136,780
Traceable fixed expense remains the same at $1,690,000
New net operating income = $2,136,780 - $1,690,000 = $446,780
The increase in price and decrease in unit sales resulted in an increase in contribution margin and net operating income. Therefore, the correct answer is $2,134,080.
To calculate the net operating income for product Alpha32 at a price of $102.96, we can use the following formula:
Net Operating Income = (Selling Price per Unit - Variable Cost per Unit) * Units Sold - Traceable Fixed Expense
First, let's plug in the values:
Selling Price per Unit = $102.96
Variable Cost per Unit = $78.00
Units Sold = 85,500 (decreased by 5% due to the price increase)
Traceable Fixed Expense = $1,690,000
Net Operating Income = ($102.96 - $78.00) * 85,500 - $1,690,000
Net Operating Income = $24.96 * 85,500 - $1,690,000
Net Operating Income = $2,134,080 - $1,690,000
Net Operating Income = $444,080
So, if the sales forecast is correct, the net operating income for product Alpha32 at a price of $102.96 will be $444,080.
Your answer: C. $444,080
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Robin likes working with numbers and is interested in joining a large organization with a clearly defined career path. • Bookkeeper: • Customer
• None
• taco Monstrot
Suitable careers for number lovers seeking growth in a large org include accounting/finance. Bookkeeping may align; a customer service is an option. "Taco Monstrot" is unrelated.
A job in accounting or finance may be a good fit for someone who enjoys working with numbers and wants a clear career path in a large organisation. Particularly, bookkeeping could be in line with this desire and provide a clear career path inside a company.
If the person has great interpersonal abilities, further career opportunities include customer service or sales. Regarding "taco Monstrot," there is no obvious relationship to the query or potential career paths, thus it is not evident how it connects to the subject at issue.
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The correct question will be: What career options are suitable for someone who likes working with numbers and seeks a clear career path in a large organization? Does bookkeeping align with this interest? Is customer service a viable option? And how does "taco Monstrot" relate to the question?
Rawls used what he called the veil of ignorance which led him to develop ______.
a. the difference principle in that economic and social equalities (or inequalities) should be arranged to provide the most benefit to the least-advantaged members of society b. five main principles of justice c. the equality principle in that economic and social equalities (or inequalities) should be arranged to provide the most benefit to the least-advantaged members of society d. the difference principle which states that each person has basic rights that are compatible to the basic liberties of others e. the Constitution principle
Rawls used what he called the veil of ignorance, which led him to develop the difference principle in that economic and social equalities (or inequalities) should be arranged to provide the most benefit to the least-advantaged members of society. Option a is correct.
The veil of ignorance requires individuals to imagine themselves as not knowing their social status, wealth, race, gender, religion, or any other characteristics that may affect their life chances. From this position of impartiality, Rawls believed that individuals would choose principles of justice that are fair to everyone.
The difference principle asserts that inequalities in society are just only if they benefit the least advantaged. This principle prioritizes the needs of the most vulnerable members of society and requires that any distribution of resources, opportunities, or privileges must be justifiable based on their impact on the least-advantaged group.
Rawls' theory of justice has been influential in political philosophy and has informed debates about social inequality and the role of government in promoting fairness and justice.
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Classify each statement or equation according to whether it describes average variable cost, marginal cost, or average (total) cost. (TC is total cost; VC is variable cost: Q is quantity.) a ATC AQ b. The amount by which total cost increases when an additional unit is produced: TC c d. The total cost divided by the quantity of output: e. The change in total cost divided by the change in output: va The sum of all costs that change as output changes divided by the number of units produced:
a. ATC = AQ describes average (total) cost.
b. The amount by which total cost increases when an additional unit is produced represents marginal cost.
c. TC/Q describes average (total) cost. d. ΔTC/ΔQ represents marginal cost.
e. VC/Q describes average variable cost.
Average (total) cost (ATC) is the total cost (TC) divided by the quantity of output (Q), as in ATC = TC/Q (statement c) and ATC = AQ (statement a).
Marginal cost (MC) is the change in total cost (ΔTC) resulting from producing an additional unit of output, which is represented by ΔTC/ΔQ (statement d) and "the amount by which total cost increases when an additional unit is produced" (statement b).
Average variable cost (AVC) refers to the variable cost (VC) per unit of output, which can be represented by VC/Q (statement e), or "the sum of all costs that change as output changes divided by the number of units produced" (statement e).
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vance was served liquor while he was an intoxicated patron of a united states air force bar. he later injured himself as a result of his intoxication. an alaska state statute makes it a crime to give or to sell liquor to intoxicated persons. vance has brought an action seeking damages for the injuries he suffered. could vance successfully argue that the united states air force was negligent per se by its employee's violation of the statute? under 50 words
Yes, Vance could successfully argue that the United States Air Force was negligent per se by its employee's violation of the Alaska state statute that makes it a crime to give or sell liquor to intoxicated persons.
Negligence per se occurs when a defendant violates a statute or regulation that is designed to protect a specific class of people from a specific type of harm, and that violation results in the type of harm the statute was intended to prevent. In this case, the statute was designed to protect intoxicated persons from being served alcohol, and Vance's injury was the type of harm the statute was intended to prevent.
Therefore, the violation of the statute would be considered a breach of duty, making the United States Air Force negligent per se. However, Vance would still need to prove causation and damages in order to recover compensation for his injuries.
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Baskin's pretax accounting income in 20X2 is $100,000. Baskin receives cash rental payments in advance for $20,000 in 20X1 and $30,000 in 20X2, which are taxed in the year of receipt. It is expected the rent will be recognized for financial reporting purposes as $25,000 in 20X3 and $25,000 in 20X4. The income tax rate is 40%. What is the amount in the deferred tax asset account at the end of 20X3?
a.) $20,000
b.) $8,000
c.) $12,000
d.) $10,000
Can you show me how to do this with a t- account?
The amount in the deferred tax asset account at the end of 20X3 is $10,000.
So the correct answer is D.
How to determine the deferred tax assetTo calculate the deferred tax asset at the end of 20X3, we first need to determine the temporary difference between the taxable income and the accounting income for rent received in advance.
Here's how to do it with a T-account:
In 20X1:
Taxable income (cash basis): $20,000
Accounting income (accrual basis): $0
Temporary difference: $20,000
In 20X2:
Taxable income (cash basis): $30,000
Accounting income (accrual basis): $0
Temporary difference: $30,000
In 20X3:
Taxable income (cash basis): $0
Accounting income (accrual basis): $25,000
Temporary difference: -$25,000
Total temporary difference at the end of 20X3: $20,000 + $30,000 - $25,000 = $25,000
Now, we need to calculate the deferred tax asset by multiplying the total temporary difference by the income tax rate:
Deferred tax asset = Total temporary difference × Income tax rate
Deferred tax asset = $25,000 × 40%
Deferred tax asset = $10,000
So the amount in the deferred tax asset is $10,000 (option d).
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When consuming the cheese curd bacon burger with fries served up at buffalo wild wings, you would consume almost 2,000 calories. offering this dish and similar others probably means the restaurant chain has to trade-off:__________
When a restaurant like Buffalo Wild Wings serves up dishes like the cheese curd bacon burger with fries, they are undoubtedly making a trade-off. On the one hand, they want to offer their customers a wide range of options that are tasty, satisfying, and will keep them coming back for more. On the other hand, they need to balance this desire with the knowledge that many people are concerned about their calorie intake and want to make healthy choices.
By offering high-calorie dishes like the cheese curd bacon burger, Buffalo Wild Wings is making a trade-off between offering indulgent, flavorful food and catering to the growing health concerns of their customers. While these dishes may be popular and profitable, they also carry the risk of alienating customers who are looking for healthier options or who are simply concerned about the impact of such high-calorie meals on their health.
Ultimately, the decision to offer dishes like the cheese curd bacon burger comes down to a careful balancing act between customer demand, profitability, and health concerns. By carefully considering these factors and making thoughtful choices about their menu offerings, restaurants like Buffalo Wild Wings can continue to thrive and satisfy their customers while also promoting healthy eating and lifestyle choices.
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As of December 31, Year 1, Gant Corporation had a current ratio of 1.29, quick ratio of 1.05, and working capital of $29,000. The company uses a perpetual inventory system and seils merchandise for more than it cost. On January 1, Year 2, Gant purchased merchandise on account for $4,000. Which of the following statements is correct? Mistipie Choice Gant's quick ratio will increase: Gant's quick ratio will increase and its cument ratio will decrease Gants wooking capital will increase. Gastrs curfent ratio wilt dectease.
The quick ratio and current ratio are both liquidity ratios used to measure a company's ability to meet its short-term obligations.
The quick ratio measures a company's ability to pay off its current liabilities with its most liquid assets, while the current ratio measures a company's ability to pay off its current liabilities with its current assets.
Working capital is the difference between a company's current assets and current liabilities and represents the amount of capital available to fund the company's day-to-day operations.
Based on the information provided, Gant Corporation had a current ratio of 1.29 and a quick ratio of 1.05 as of December 31, Year 1, which indicates that the company has a relatively low level of liquidity.
The working capital of $29,000 indicates that the company has enough funds to continue its day-to-day operations.
On January 1, Year 2, Gant purchased merchandise on account for $4,000, which will increase both the current assets and current liabilities of the company by the same amount, resulting in no change to the current ratio.
However, the quick ratio will decrease because the purchase of merchandise on account will increase the company's inventory, which is not considered a liquid asset.
Therefore, the correct answer is: Gant's quick ratio will decrease, but its current ratio will remain the same, and its working capital will not be affected by this transaction.
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The natural unemployment rate in the steady-state as a function of the job separation rate, s, and job finding rate, f, when both rates are constant, is given by:
In a steady-state, the natural unemployment rate is determined by the job separation rate, s, and the job finding rate, f.
The natural unemployment rate, also known as the non-accelerating inflation rate of unemployment (NAIRU), is a concept in macroeconomics that refers to the level of unemployment that exists in the economy when it is at its potential output or full employment.
The job separation rate, s, is the rate at which workers separate from their jobs, either voluntarily or involuntarily, such as through layoffs or dismissals. The job finding rate, f, is the rate at which unemployed workers find new jobs. When both rates are constant, the natural unemployment rate can be calculated as s/f.
For example, if the job separation rate is 5% and the job finding rate is 95%, then the natural unemployment rate would be 5.26% (5%/95%). This means that in the steady-state, there would be 5.26% of the labor force who are unemployed due to job separation or other factors, while the rest of the labor force is employed or actively seeking employment.
It is important to note that the natural unemployment rate is not a fixed number and can change over time due to various factors, such as changes in technology, demographics, and labor market policies. However, it serves as a benchmark for policymakers to determine the level of unemployment that is consistent with stable prices and a healthy economy.
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_______ assumes that humans may not act rationally because of genetics, learned behavior, and rules of thumb.
Bounded rationality which assumes that humans may not act rationally because of genetics, learned behavior, and rules of thumb. Bounded rationality is a theory introduced by economist and Nobel laureate Herbert A. Simon, which suggests that human decision-making is limited by available information, cognitive constraints, and time.
Genetics play a role in bounded rationality, as individuals inherit cognitive abilities and traits from their ancestors. These inherited traits influence decision-making processes and may lead to irrational choices. For example, humans have evolved to prefer immediate rewards over delayed ones, which can result in impulsive decisions that are not in their best interest.
Learned behavior is another factor contributing to bounded rationality. Throughout their lives, individuals acquire habits, customs, and values that shape their decision-making processes. Cultural and social norms can cause people to make decisions that may appear irrational when evaluated from a purely logical standpoint. For instance, people may follow traditions or engage in actions for the sake of social conformity, even if it doesn't make logical sense.
Rules of thumb, or heuristics, are mental shortcuts that individuals use to simplify complex decisions. While these shortcuts can save time and cognitive effort, they can also lead to biased or suboptimal decisions. For example, the availability heuristic causes people to overestimate the likelihood of an event based on how easily examples come to mind. This can result in individuals making choices based on perceived risk rather than actual probability.
In conclusion, bounded rationality acknowledges that human decision-making is often influenced by factors such as genetics, learned behavior, and rules of thumb, which can lead to irrational choices. Recognizing these limitations helps us better understand human behavior and develop strategies to improve decision-making processes.
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why are the msds so important for workers to read at the job site? group of answer choices material security data sheet help the workers go home every night stronger. material safety data sheet provide important knowledge on how to work with toxic materials at the job site. it provides maximum strength determination system that workers need to improve performance material safety data sheet are waste of time to read and better to read the local newspaper
The Material Safety Data Sheet (MSDS) is an important document that provides crucial information on how to work with hazardous materials at the job site.
Moreover, It contains important details such as chemical properties, health hazards, precautions for safe handling, and emergency procedures. By reading the MSDS, workers can ensure that they are aware of the potential risks and take appropriate safety measures to prevent accidents and injuries.
The MSDS can help workers go home every night stronger by providing them with the necessary knowledge and tools to work safely with toxic materials.
However, It is not a waste of time to read the MSDS and it is better to prioritize reading it over other irrelevant materials such as the local newspaper.
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the allowance for doubtful accounts, a contra-asset account, is when specific uncollectible accounts are written-off.
The Allowance for Doubtful Accounts is a contra-asset account that represents an estimate of the uncollectible accounts receivable. It is used to record the anticipated loss from customers who may not pay their outstanding balances.
1. Determine the estimated uncollectible amount: Analyze historical data and current economic conditions to estimate the percentage of accounts receivable that may not be collected.
2. Record the estimated uncollectible amount: Make a journal entry to debite Bad Debt Expnse and credit Allowance for Doubtful Accounts for the estimated amount.
3. Contra-asset account: The Allowance for Doubtful Accounts is a contra-asset account because it reduces the accounts receivable balance on the balance sheet. The net accounts receivable balance is calculated as Accounts Receivable - Allowance for Doubtful Accounts.
4. Write-off specific uncollectible accounts: When it is determined that a specific account is uncollectible, you need to write it off. To do this, make a journal entry to debit the Allowance for Doubtful Accounts and credit Accounts Receivable for the uncollectible amount.
In summary, the Allowance for Doubtful Accounts is a contra-asset account used to estimate and record the potential loss from uncollectible accounts receivable. When specific uncollectible accounts are identified, they are written-off against the allowance. The other options are: bad debts, revenue and costs.
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determining the baseline performance occurs in the six sigma dmaic step known as:
Determining the baseline performance occurs in the Six Sigma DMAIC step known as Measure.
In this step, data is collected and analyzed to establish the current performance level or baseline. This helps in identifying the gap between the current performance and the desired performance, which is necessary to set improvement goals and create a plan for achieving them.
We collect data and establish a baseline to understand the current performance of the process.
This allows you to identify any gaps, issues, or areas of improvement. The DMAIC steps are Define, Measure, Analyze, Improve, and Control.
Therefore, the baseline performance occurs in the Six Sigma DMAIC step known as "Measure.
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A corrective subsidy induces the ________ to the socially optimal level.A. consumers of a negative externality to increase the quantity consumed B. producers of a negative externality to increase the quantity produced C. consumers of a positive externality to increase the quantity consumed D. producers of a positive externality to reduce the quantity produced
A corrective subsidy is a government intervention that is used to correct market failures caused by externalities.
It is a payment made by the government to producers or consumers of a good or service that generates positive externalities, or to producers of a good or service that generates negative externalities, to encourage them to reduce or increase the quantity produced or consumed.
The aim of a corrective subsidy is to shift the supply or demand curve of the good or service towards the socially optimal level.
Based on the options given, the correct answer is D.
A corrective subsidy induces producers of a positive externality to reduce the quantity produced to the socially optimal level.
Positive externalities are benefits generated by the production or consumption of a good or service that spill over to third parties, who do not pay for or consume the good or service.
In this case, the market tends to produce less than the socially optimal level because the producers do not take into account the benefits that accrue to others.
By offering a corrective subsidy, the government can encourage the producers to increase the quantity produced, thus raising the level of social benefits.
In conclusion, a corrective subsidy is an effective policy tool used to address externalities and achieve the socially optimal level of production or consumption.
It can be used to encourage producers of positive externalities to produce more, or producers of negative externalities to reduce their output, depending on the nature of the externality.
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