The diminishing marginal utility effect states that as more of an item is consumed and the amount of additional satisfaction decreases, the seller must ________ price to induce the consumer to buy more.
Answer: decrease
Explanation: Marginal utility could be explained as the extra satisfaction derived from the consumption of one extra unit of an item. However, as consumption increases, the extra satisfaction (marginal utility) begins to decline. At this point, the demand for such product or item will tend to fall or drop due to the decline in satisfaction. When this happens, reduces the price of such item becomes paramount in other to fight the decline in demand of the product and induce consumers to buy more.
Herb has $20,000 in an interest-bearing time deposit with the Applebottom Bank and Trust Company. While earning a relatively attractive rate of interest, Herb had to agree to not withdraw any of the funds until the end of a three-year period. Herb's investment represents a(n):
Answer: Certificate of deposit
Explanation: Herbs investment with Applebottom Bank and Trust Company represents a certificate of deposit which differs from the usual savings deposit due to the the high interest it pays and the fact that it is time bound. The depositor enters into an agreement with the financial institution issuing the certificate of deposit and a fixed term of deposit is agreed with a better interest than usually attached to other deposit accounts. This restricts the depositor from being able to withdraw any amount from his / her account before the stipulated date.
The You Design, We Build Company makes custom furniture of all kinds. The firm has evolved into a big business due to quality and innovative work. Recently, top management asked company departments to list and evaluate the kinds of socially responsible efforts conducted internally and externally in the business and to list negative occurrences that supervisors observed. Top management is essentially conducting a(n)
Answer:
and thats how manfi works123
Explanation:
:hand emoji:
12313
A standard work year is 2080 hours at the Luther Mill and it takes about 2 hours to fill a customer order. The manager at the mill is always concerned about employee idle time, so he aims for a capacity cushion of two percent. Last year saw 15,000 customer orders at the mill and the manager has a new Mercedes in mind as a company car, so he hopes that there is an increase of 10% in customer orders for next year. How many workers will the manager need to have at the mill next year
Answer:
16 workers
Explanation:
current demand = 15,000 customers x 2 hours per customer = 30,000 hours
we add the 2% cushion = 30,000 x 1.02 = 30,600 hours
if sales increase by 10% next year, next year's demand = 30,600 x 1.1 = 33,660 hours
33,660 hours / 2,080 hours per employee = 16.18 employees, which we should round to 16
Georgia was supposed to pay her premium by the 15th of the month. Which of the following provisions allows her to keep her coverage if she is a couple of weeks late with paying her premium (without penalty)?
a) Incontestability clause
b) Misstatement of age provision
c) Naming a beneficiary
d) Policy reinstatement
e) The grace period
Answer: The Grace period
Explanation:
From the question, we are informed that Georgia was supposed to pay her premium by the 15th of the month. The provision that allows her to keep her coverage even though she is a couple of weeks late with paying her premium without penalty is referred to as the grace period.
The grace period is a period of time which is after the due period of an obligation whereby a late fee or a penalty is waived. In this case, Georgia was in her grace period.
Darwin Inc. sells a particular textbook for $20. Variable expenses are $14 per book. At the current volume of 50,000 books sold per year the company is just breaking even. Given these data, the annual fixed expenses associated with the textbook total:
Answer:
Fixed costs= $300,000
Explanation:
Giving the following information:
Selling price per unit= $20
Variable expenses= $14
Break-even point in units= 50,000
To calculate the fixed costs, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
50,000= fixed costs / (20 - 14)
50,000*6= fixed costs
Fixed costs= $300,000
Assume a fixed cost for a process of $120,000. The variable cost to produce each unit of product is $35, and the selling price for the finished product is $50. Which of the following is the number of units that has to be produced and sold to break even?
a. 790 units
b. 1,000 units
c. 500 units
d. 900 units
e. 667 units
Answer:
8000 units
Explanation:
Given the following :
Fixed cost = $120,000
Variable cost per unit of product = $35
Selling price per unit of product = $50
Number of units that has to be sold to break even:
Break even point (unit) is the ratio of the fixed cost and the unit contribution margin of a product.
Unit contribution margin = selling price - variable cost
Unit contribution margin = $50 - $35 = $15
Break-even point (unit) = $120,000 / $15
Break-even point (unit) = 8000 units
Fancy Furniture produced a batch of 2,000 coffee tables at a cost of $355,000. It was discovered that the entire batch was finished improperly. Fancy can sell the tables as seconds for $305,000 or spend an additional $315,000 to refinish them and sell them for $605,000.
Which of the following is not relevant to management's decision regarding refinishing the tables or selling them as is?
a) The additional $300,000 revenue that can be generated if the tables are refinished.
b) The $355,000 manufacturing cost of the tables already incurred.
c) The additional $315,000 cost to refinish the tables.
d) The effect of selling "seconds" on Fancy's reputation as a fine-furniture manufacturer.
Answer:
b) The $355,000 manufacturing cost of the tables already incurred.
Explanation:
The Business has already incurred this expense in making the coffee tables, this can not be done. Therefore, it does not make sense to consider this when considering whether to complete the
Tables, or sell them as they now are
All other points contribute either directly or indirectly to the decision that the company is about to take in this regard.
So, the correct answer is b
Tesco was forced to restate its earnings for the first half of 2014 to 431 million USD because senior managers in the UK food business had booked income early and delayed the booking of costs in order to improve appearances of financial performance. This scandal results from ____________ and __________.
Answer:
Poor governance and Control
Explanation: The overstatement of profit made by TESCO, a renowned grocery chain in the U. K could largely be traced to the poor internal structure governing the setup which demonstrated high level of ineptitude in the control and anchoring the of the firm's activities. In a bid to increase profit and market standing, TESCO embarked on an aggressive financial strategy whereby income was doctored and suppliers tricked into making payment in other to up the company's earning figure. This act explains how disjointed the upholding structure within the company was at the time.
Hampton Corporation has a beta of 1.3 and a marginal tax rate of 34%. The expected return on the market is 11% and the risk-free interest rate is 6%. Estimate the firm’s cost of internal equity.
Answer: 12.5%
Explanation:
Given the following :
Beta (B) = 1.3
Marginal tax rate = 34%
Risk free interest rate = 6%
Market rate of return = 11%
The cost of equity is calculated using the relation:
Risk free rate of return + Beta(market rate of return - risk free rate of return)
Cost of equity = 6% + 1.3(11% - 6%)
Cost of equity = 6% + 1.3(5%)
Cost of equity = 6% + 6.5%
Cost of equity = 12.5%
Therefore, the firm's cost of internal equity is 12.5%
An American company is in a joint venture with an overseas Middle East company. The U.S. managers are particular about time management and appointments for conference calls and meetings. However, their overseas Middle Eastern counterparts are not conditioned the same way and don’t necessarily adhere to schedules. This variation in time management is an aspect of their _____ environment.
Answer:
This variation in time management is an aspect of their _cultural____ environment.
Explanation:
The working environment of countries differ. This environment also dictates approaches to issues. For example, this Middle Eastern company operates in a cultural environment that does not take issues with time management serious unlike the American counterpart. The prevalent cultural environment may not be easy to overcome. For this reason, companies engaging in international relationships should factor in this consideration of differences in culture whenever they venture outside.
This variation in time management is an aspect of their cultural environment.
The following information should be considered:
The cultural environment is the important reason for the Saudi Arabia delegation to not adhere to the schedule. This is due to the USA and Saudi Arabia contains different time zones and the Saudi delegates have different cultures and also have working environment unlike USA.
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Stitches Corporation enters into a contract to sell denim clothing to Trend Fashion Company, which in turn sells the clothing to consumers. In contrast to standards that apply to consumers, the UCC imposes on merchants:_________
a. less strict legal standards.
b. special business standards.
c. stricter ethical standards.
d. the same overall standards.
Answer:
B. special business standards.
Explanation:
In this scenario, Stitches Corporation enters into a contract to sell denim clothing to Trend Fashion Company, which in turn sells the clothing to consumers. In contrast to standards that apply to consumers, the uniform commercial code (UCC) imposes on merchants is the special business standards.
The uniform commercial code (UCC) is a set of standardized business laws which are put in place for the regulation of financial contracts and commercial transactions used across different states in the United States of America.
There are special rules known as the special business standards that are set up by UCC governing the merchants and the sales of goods in the Article 2 of the uniform commercial code.
Jon had adjusted gross income of $25,000 in 2019. During the year, he incurred and paid the following medical expenses: - Drugs and medicines prescribed by doctors $300 - Health insurance premiums $750 - Doctors' fees $2,250 - Eyeglasses $75 Jon received $900 in 2019 as a reimbursement for a portion of the doctors' fees. If Jon were to itemize his deductions, what would be his allowable medical expense deduction after the adjusted gross income limitation is taken into account?
Answer:
The allowable medical deduction after Adjusting Total Income is $0
Explanation:
Particulars Amount
Drugs and Medicines prescribed by doctors $300
Add:- Health insurance premium $750
Add:- Doctors Fees $2,250
Add:- Eyeglasses $75
Less:- Reimbursement of doctors fees received ($900)
$2,475
Less :- Adjusted Gross Total Income of $25,000 $2,500
Allowable medical deduction after adjusting -25
total Income
Therefore, as the resultant amount is negative. The allowable medical deduction after Adjusting Total Income is $0
Workings
Adjusted Gross Total Income of $26,000
= $26000 × 10%
= $2,600
List the advantages and disadvantages of a Small Business:
Answer:
Kindly check explanation
Explanation:
Small businesses may be defined based on various criteria ranginging from the size of running capital, number of employees and even customer base. What is obvious is that most small business require very little capital, limited number of employees and small market size. Small businesses offers the following advantages :
Financial liberty which affords it's doers the ability to cater for themselves or buttress on their initial EARNING.
INCREASED RESPONSIBILITY : Business owners take absolute charge of business decisions thereby broadening their scope and offering more independence and greater control.
Another advantages of having a small business is the fact that efforts and commitment put into the sustenance and growth of the business will be duly reaped by the owner. Rather than having to work for someone else to earn a greater portion of the return.
However, it also has its disadvantages which ranges from :
Exposure to financial risk arising from business collapse such that one has to deal with the burden alone.
The effort put in to keep business aloft may become overwhelming due to lack of adequate employees which may result in health impairment.
King Construction Company receives weekly shipments of lumber, vinyl siding, and stone slabs from one of its materials suppliers. Since King Construction Company is a regular customer, the supplier has made an agreement to give the company discounts if it pays its bill early. This is an example of
Answer:
Trade credit
Explanation:
The trade-credit refers to the increase in credit by the suppliers. There is an option to purchase now and pay later. The company could take order with respect to material delivery, equipment on credit instead of paying in cash on an immediate basis. This can be done by using the trade credit
Therefore according to the question, since it is mentioned that there is an agreement that if pay the bill on early so the company provides the discount
So, this is an example of Trade credit
This is a Trade Credit illustration.
A trade credit agreement is a contract that allows you to buy products and services without having to pay for them right away. The buyer and the vendor come to an agreement, and the seller delivers the goods and services purchased. It is more beneficial to the expansion of a firm.
According to this knowledge, King Construction Firm is a regular customer, and there is an understanding that if the bill is paid early, the company will give a discount.
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The Karaoke Channel Online streams professional-grade karaoke for $9.95 a month. Suppose Karaoke Channel Online has a constant marginal cost of $1 per customer and total fixed cost is $20,000. The profit maximizing number of customers is 10,000. Several competitors start to advertise online. Karaoke Channel Online now spends $5,000 a month on advertising and the profit maximizing number of customers increases to 12,000 and the streaming price remains constant. What is Karaoke Channel Online's total profit after the advertising begins?
TooEarly, Inc. is a calendar year corporation. On January 3rd of the current year at the request of TooEarly management, Grand Slam Inc., TooEarly's only corporate shareholder, sells all its shares of TooEarly stock to Bill Brady, an individual. On January 5th of the current year TooEarly files for S corporation status. What is the first year TooEarly will be eligible for S corporation treatment
Answer:
Next year
Explanation:
Since in the question, it is given that the only the corporate shareholder sells all of its shares to Bill Brady who is an individual and on the current year too early filed the S corporation status
Now the TooEarly will be eligible for the next year as the TooEarly has a non-qualified shareholder but the S corporation treatment is available for the following year
what is a good online website for a highschool student to do 40 hours volunteering?
there are many websites to volunteer
I've found some websites from the given list
1. United Nation Volunteers
2. Catchafire
3. Smithsonian Digital Volunteers
4. Amnesty Decoders
5. Translators Without Borders
6. Crisis Text line
7. Zooniverse
8. Project Gutenberg
9. Dosomething.org
Production and sales estimates for March for the Streamline Systems Co. are as follows: Estimated inventory (units), March 1 17,500 Desired inventory (unit), March 31 20,300 Expected sales volume (units) 35,000 Unit sales price $15 a.35,000 b.37,800 c.20,300 d.17,500
Answer:
b.37,800
Explanation:
The computation of the number of units expected to be manufactured is shown below:-
Number of units expected to be manufactured = Sales + Ending inventory - Beginning inventory
= 35,000 + 20,300 - 17,500
= 37,800 units
Therefore for computing the number of units expected to be manufactured we simply applied the above formula.
When one store stays open late to gain an advantage, its competitors begin to stay open late, too. At this point the first store is no better off than it was before, but now every store has additional expenses. This illustration is an example of what Frank and Cook call a
Answer:
Positional Arms Race
Explanation:
In the positional Arms Race, one of the competitor tries to increase its sales by offering more to its customer which would also encourage its competitor to offer more to its customers. This is because the competitor will try to retain his customers for the long term that other competitor wants to win.
As in this case, the company has began to stay open late, though it will increase its sales initially but later it would encourage its competitor to do so which will result in decline in value to company as it will increase the cost of both competitors and will not be generating enough value for the companies. This phenomenon is often referred to as Positional Arms Race.
Q 8.38: The financial statements of the Robertson Company report net sales of $400,000 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 Robertson
Answer:
13.33 times
Explanation:
The computation of the accounts receivable turnover ratio is given below:
Account receivable turnover ratio = Net credit sales ÷ Average accounts receivable
where,
Net credit sales is $400,000
And, the Average accounts receivable would be
= (Accounts receivable, beginning of year + Accounts receivable, end of year) ÷ 2
= ($40,000 + $20,000) ÷ 2
= $30,000
So, the account receivable turnover ratio is
= $400,000 ÷ 30,000
= 13.33 times
Early settlers in the town of Dry Gulch drilled wells to pump as much water as they wanted from the single aquifer beneath the town. (An aquifer is an underground body of water.) As more people settled in Dry Gulch, the aquifer level fell and new wells had to be drilled deeper at higher cost. The residents of Dry Gulch will overuse water relative to the social optimum because:___________.
a. each resident will fail to adequately consider the external cost of his or her own water use
b. water is a scarce resource
c. each resident will fail to adequately consider the external benefit of his or her own water use
d. the marginal cost of water is increasing
Answer:
Dry Gulch Town
The residents of Dry Gulch will overuse water relative to the social optimum because:
a. each resident will fail to adequately consider the external cost of his or her own water use
Explanation:
When individual households in Dry Gulch dig their own wells, each household will usually overuse the water because they are not paying any incremental costs except for the maintenance of the well. Again, the aquifer level around the area usually falls due to overuse and this makes it difficult for new residents to find water unless they dig deeper wells at higher costs. So, there is always some social costs (sometimes immediately external to the households) for individual households to dig their own water wells instead of community or commercial wells that will help regulate water use.
Trina's property is listed with Avalon Homes. The market is a little slow, and Trina's listing is a high-end home, where sales are even slower. She's had several showings, but no offers. The term of the listing agreement is nearly over. What happens when the termination date is reached?
Answer: Listing expires and terminated
Explanation: In the scenario above, Avalon homes only serves to aid the sale of Trina's property and as such will not be held liable for any offense if the property isn't sold within the listing period. Avalon homes isnt responsible for either the slow nature of market at the time or the fact that Trina's property belongs to the high end category which often takes even more time to get a buyer for. Therefore, once the contract period of Trina's listing is reached, the listing expires and it's terminated unless another listing contract is struck between both parties.
Suppose that smoking creates a negative externality. If the government does not interfere in the cigarette market, then a. the equilibrium quantity of cigarettes smoked will equal the socially optimal quantity of cigarettes smoked. b. the equilibrium quantity of cigarettes smoked will be greater than the socially optimal quantity of cigarettes smoked. c. the equilibrium quantity of cigarettes smoked will be less than the socially optimal quantity of cigarettes smoked. d. There is not enough information to answer the question.
Answer:
b. the equilibrium quantity of cigarettes smoked will be greater than the socially optimal quantity of cigarettes smoked.
Explanation:
A negative externality occurs when the costs of economic activities to third parties not involved in economic activities are greater than the benefits.
Negative externality are usually overproduced in the economy. so, the equilibrium quantity of cigarettes smoked will be greater than the socially optimal quantity of cigarettes smoked.
If there is a decrease in the short-run aggregate supply curve and no changes in fiscal policy are implemented, the economy over time will Group of answer choices Remain at the new price and output level Experience a leftward shift in the aggregate demand curve Return to the original output and price level Experience increasing nominal wages Continue to have rising prices and decreasing Real GDP
Answer: Return to the original output and price level
Explanation:
There is a general consensus in the Economic world that the Economy will usually adjust back to a level of full employment which is the Long Run Aggregate Supply curve.
When the short short-run aggregate supply curve experiences a decrease, the variables at play will adjust to such a point where they will return to the Original Output and price level assuming that was the Long Run AS level. For instance, if the price of a raw material needed in production rises, output will decrease as the inputs have become more expensive. As a result of this decrease in output, unemployment goes up which will theoretically mean that wages will go down as there are now more people looking for jobs. This will reduce the wage cost and producers will take advantage to start producing more bringing the Economy back to the original level.
When Nokia used a global campaign to promote their new product (Nokia 900 Communicator) that combined phone, fax, e-mail, and Internet functions with the slogan "Everything. Everywhere," they were appealing to a(n) ______________________ segment.
Answer:
Universal segment
Explanation:
Universal segment is a method used in marketing to target a broad range of customers. The aim is to attract a larger number of people to purchase the product.
segmentation is the way a product is tailored to meet the needs of target customers.
in the given scenario Nokia used a global campaign to promote their new product (Nokia 900 Communicator) that combined phone, fax, e-mail, and Internet functions. This has a broad range of users for these features.
The slogan of this product was also "Everything. Everywhere".
Suppose the MPC is 0.60. Assume there are no crowding out or investment accelerator effects. If the government increases expenditures by $200 billion, then by how much does aggregate demand shift to the right
Answer:
$500 billion
Explanation:
we must first calculate the economy's multiplier = 1 / MPS
marginal propensity to save (MPS) = 1 - MPC = 1 - 0.6 = 0.4
economy's multiplier = 1 / 0.4 = 2.5
this means that if the government increases expenditures by $200 billion, the the economy will grow (rightward shift) by $200 x 2.5 = $500 billion
List 5 motives for the construction of various media?
Answer and Explanation:
For the construction of various media, the five motives are as follows
1. Develop connections and make connections: For motivating the social media we have to establish the connections and through it, we can easily make the connections,
2. Sharing the news of the company: Post the news of the company to various social media so that the public at large get attracted towards it
3. Voice opinion: Voice opinion also matters for establishing the several medias
4. People opinion for the company: Customer satisfaction is the utmost priority for the company so that the company could able to know what changes are required in the product to deliver it in the best manner
5. Communicated with employees: The communication with the employees also matters as the employees could be delivered their idea to better the company services
Media is the plural word of the medium that is the means of communication. The news channels, radios, magazines, and many other social things are communicated to the general public by means of media only. The media covers the speech or the incident and lets it known to the general public at no time.
The five motives for the construction of social media are:
1. Developing and making connections: For motivating social media there is a need to establish connections and suing those conections new connections can be made.
2. Sharing the company's reviews: After the company gets its name on social media, it gets famous among a group of people at no more time.
3. Voice opinion: Voice opinion also matters for interacting the several medias
4. People's opinion of the company: Customer satisfaction is the utmost priority of the company so that the company could able to know what changes are required in the product to deliver it in the most satisfactory form.
5. Interaction with employees: Communication with the employees also matters as the employees could deliver their idea to better the company's services.
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Sunland Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2017, the company’s Cash account per its general ledger showed a balance of $6,823.90. The bank statement from Emporia State Bank on that date showed the following balance.
EMPORIA STATE BANK
Checks and Debits Deposits and Credits Daily Balance
5-317,053.00
A comparison of the details on the bank statement with the details in the Cash account revealed the following facts
1. The statement included a debit memo of $57.00 for the printing of additional company checks
2. Cash sales of $900.15 on May 12 were deposited in the bank. The cash receipts entry and the deposit slip were incorrectly made for $950.15. The bank credited Sunland Company for the correct amount
3. Outstanding checks at May 31 totaled $285 25, and deposits in transit were $1.897.15.
4. On May 18, the company issued check No. 1181 for $684.00 to H. Moses, on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Sunland Company for $648.00
5. A 52.792.00 note receivable was collected by the bank for Sunland Company on May 31 through electronic funds transfer
6. Included with the canceled checks was a check issued by Tomins Company to C. Pernod for $343.00 that was incorrectly charged to Sunland Company by the bank
7. On May 31, the bank statement showed an NSF charge of $465.00 for a check issued by Sara Ballard, a customer to Sunland Company on account
Prepare the bank reconciliation at May 31, 2017. (List items that increase balance as per bank & books first. Round answers to 2 decimal places, eg. 52.75)
Answer:
Bank account reconciliation:
Bank account balance $7,053
+ Deposits in transit $1,897.15
+ Check charged by error $343
- Outstanding checks ($285.25)
Reconciled bank account $9,007.90
Cash account reconciliation:
Cash account balance $6,823.90
+ Note receivable collected by bank $2,792
- Bank fees for printing checks ($57)
- Error on deposit slip ($50)
- Error on recording check ($36)
- NSF check ($465)
Reconciled cash account $9,007.90
Calculate the latest start for Task B if its predecessor, Task A, finishes on day 3, its succeeding activity, Task E, has a latest start of day 7, and the duration of Task B is 2 days. Select one: a. day 7 b. day 5 c. Cannot be calculated based upon information given. d. day 3
Answer:
Day 5
Explanation:
Calculation of the latest start
Using this formula
Latest start = Activity's latest finish time-Activity's estimated duration
Where,
Latest Finish time= Day 7
Estimated Duration= 2 days
Let plug in the formula
Latest start= Day 7- 2 days
Latest start = Day 5
Therefore the latest start for Task B will be Day 5