Profit is maximized at the point MR = MC
In case of uniform price is to be charged, equate MR (market) = MC As seen in the given table, this occurs at the point MR = MC = $300 at Q = 50
Thus, total seats sold = 50 at a price of $400
Profit is maximized at the point MR = MC
In case a different price is to be charged, equate MR = MC for each firm
Business Traveler:
As seen in the given table, this occurs at the point MR = MC = $300 at Q = 50 and P = $400
Vacation traveler:
As seen in the given table, this occurs at the point MR = MC = $300 at Q = 50 and P = $350
Maximization is a fashion of choice-making characterized by using searching for the best choice via an exhaustive seek thru alternatives. it's miles contrasted with satisficing, in which people compare alternatives until they locate one that is "excellent sufficient". The difference among "maximizing" and "satisficing" turned into first made through Herbert A. Simon in 1956.[1][2] Simon stated that even though fields like economics posited maximization or "optimizing" because the rational technique of creating selections, people often lack the cognitive resources or the environmental affordances to maximise.
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Which of the following explains why long-run average cost at first decreases as output increases?
a. diseconomies of sale
b. less-efficient uses of inputs
c. fixed costs becoming more spread out ever more units of input
d. gains from specialization of inputs
Profits from input specialization explain why long-term average cost declines before output increases.
Decreased long-term average costs and a rise in scale economies result from internal and external economies of scale. Due to internal and external inefficiencies, there are rising long-term average costs and declining economies of scale.
When there are a lot fewer units produced, the long-run average cost curve typically slopes downward. In other words, the curve will slope downward when output is relatively low. In contrast, it will incline upward when output levels are high.
The phrase "economies of scale" describes a situation in which the long-run average cost falls as the firm's output rises. The chemical industry is a classic illustration of economies of scale in action.
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When a product experiences declining sales for an extended period, it is likely entering the decline stage of the product life cycle. Which of the following IS a reasonable strategy at this stage?
pruning the product line to optimize production and cut costs is a rational course of action. At this stage, it makes sense to reduce the number of goods on the line in order to optimize manufacture and decreased costs.
What transpires when a product has reached the final stage?
Sales of the product plummet during the decline stage as demand declines, and purchasing habits also alter. Due to competition and the sector's product losing market share, sales typically decrease.
When do sales start to increase?
Maturity: When a product reaches its maximum, it is said to be mature. At this time, you can see wide adoption and increased competition. A fair evaluation moves into the decline stage when client growth slows.
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How to Identify a Target Market and Prepare a Customer Profile
It contains details on the company's size, sector, location, revenue, and target market. The decision-makers at the client company may also be included in the profile. In a business-to-consumer setting, a customer profile focuses on specific clients and includes demographic information like age, gender, and lifestyle preferences.
How to identify target?
Determine the area in which your market is situated. Set clear limits within which you will conduct business. Demographic. Age, race, religion, gender, income level, family size, occupation, education level, and marital status are just a few of the factors used to identify potential clients.The type of consumer most likely to purchase your goods or services is identified by a target market customer profile. Some businesses build their products around a certain client profile, while others establish the consumer profile after developing their marketing techniques.You need a Target Buyer Profile in order to create a complete Target Customer Profile. These are the characteristics that your greatest customers share the most, including corporate position, demographics, psychographics, and behavior.To know more about Customer here
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Which of the following scenarios shows the multiplier at work? a. The government builds a new highway, which costs $35 billion. The construction company and the workers are paid and spend some of the money on buying goods and services from grocery stores and department stores. The grocery store employees and the department store employees then are paid and purchase more goods and services. b. The government estimates that GDP is expected to fall in the near future, so the government decides to increase expenditure now to boost GDP. c. You decide to work fewer hours per week, so your income falls. d. You decide to save money and begin shopping around for lower priced items. You then proceed to buy only those items that are on sale.
The scenario, " The government builds a new highway, which costs $35 billion. The construction company....more goods and services." shows the multiplier at work. So, option (a) will be regarded as suitable.
Give a brief account on multiplier effect.An economic concept known as the multiplier effect describes the proportional amount of ultimate revenue that increases or decreases as a result of a capital infusion or withdrawal. In essence, multipliers effects gauge the effect that altering one aspect of economic activity—such as investment or spending—will have on the overall economic output of a given object. The multiplier is the term for this boosted effect.
The way capital infusions effect income or growth in a good way is generally of greatest interest to economists. Many economists think that capital investments of any kind, whether they come from the government or a company, will have a significant snowball effect on many different kinds of economic activity. The multiplier effect offers a numerical figure or estimate of a multiplied predicted rise in revenue per dollar of investment, as its name suggests. The multiplier that is typically used to measure the multiplier effect is computed as follows:
Multiplier = change in income / change in spending
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in the context of lean tools and approaches, are indicators for operating activities that are placed in plain sight of all employees so that everyone can quickly and easily understand the status and performance of the work system.kanban cardspush systemspull systemsvisual controls
The design enables immediate acknowledgment of the information being transmitted, increasing efficiency and clarity.
Visual controls help to improve processes by focusing attention on them. Lean management uses visual controls to simplify comparing expected performance to actual performance and to focus on the process. These means comparisons show where the process isn't working as it should and where it might need to be improved. Many workplaces employ visual control, a business and management strategy, to convey information by using visual cues rather than text or other written instructions. The concept of accomplishing more with less forms the basis of the business strategy known as lean operations. It takes a straightforward approach to manage a company and enhancing daily operations. Lean operations, in other words, aim to make your workflow more efficient in the Marie Condo sense.
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for both personal and real property, qualified property for an involuntary conversion must be similar and related in service or use to the property that was involuntarily converted.
For both personal and real property, qualified replacement property for an involuntary conversion must be similar and related in service or use to the property that was involuntarily converted.
What Is a Replacement Property?Replacement property can be described as any property which can be received in place of property that has been destroyed, lost, however the Replacement property can be personal as well as business property which can include various types of assets, like that real estate, equipment, and vehicles.
It should be nboted that Personal property could be seen as one that is movable which is anything that can be subject to ownership, howevr the Real property is immovable property which could be land and anything attached to the land.
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complete question:
For both personal and real property, qualified _______ property for an involuntary conversion must be similar and related in service or use to the property that was involuntarily converted.
Maggie liked her new smart television so much, she went online to the company's website to post a positive review of it. what type of content is maggie's product review?
Answer:
User-generated content is the answer.
Explanation:
Maggie liked her new smart television so much, she went online to the company's website to post a positive review of it. User-generated content is the type of content is maggie's product review.
What is television?A mass communication medium known as television is used here. Electronic media with a video and audio foundation include television. A variety of channels, including news, sports, music, and movie channels, are available on television.
User-generated content is original, brand-specific content created by customers and delivered through internet entertainment or other channels. UGC can take numerous forms, including images, videos, surveys, a memorial, or even a television. UGC is used at every stage of the buyer's journey to help influence commitment and increase changes.
As a result, User-generated content is the type of content is maggie's product review.
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T/F. two key limitations of the proprietorship form of business involve potential difficulty in raising the necessary capital and the presence of unlimited personal liability for business debts.
Two key limitations of the proprietorship form of business involve potential difficulty in raising the necessary capital and the presence of unlimited personal liability for business debts. Thus, it is True.
What is proprietorship?A business that is solely held by one natural person and in which there is no legal separation between the owner and the business entity is known as a sole proprietorship.
The business owner engages in his or her activity without establishing a separate legal person.
Examples of sole proprietorships in small enterprises include a one-person art studio, a neighborhood market, or an IT consulting firm.
You establish a sole proprietorship as soon as you start selling goods and services to other people. It's that easy.
You and your business are one entity for all legal purposes.
In a sole proprietorship, the business's owner is personally liable for all debts and obligations.
In a partnership, two or more individuals pool their resources for the company and split earnings and losses.
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Segmenting customers on the basis of things like products purchased, sales history, demographic information, and desired product features can dilute the results of a CRM program.truefalse
The answer of the given question is false which is the given statement is not true.
At its most basic level, CRM software compiles customer data and stores it in a single CRM database for easier management and access by company users.
CRM systems have had a lot of extra features added to them throughout time to increase their utility. Some of these features include the ability for managers to monitor performance and productivity based on data logged within the system, as well as the ability to automate various workflow automation processes, such as tasks, calendars, and alerts, depending on system capabilities. Other features include recording various customer interactions via email, phone, social media, or other channels.
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2. Do you think these moral licensing effects are common across all kinds of green consumers? Or are there other factors (i.e., demographics, psychographics) that might either exacerbate or weaken the effects? Why or why not?
Moral licensing is "people's sense that they are allowed to engage in activities that may be viewed as socially undesirable or morally dubious as a result of a history of moral behaviors."
What is Moral licensing?According to the moral licensing idea, leaders may exhibit contradictory behaviors, and followers may at times put up with or even approve of their dubious behavior. "People's impression that they are allowed to perform activities that may be considered as socially unpleasant or morally problematic, due to history of moral behaviors," is the definition of moral licensing.
The moral credit model and the moral credential model are two possible processes that might underlie the moral licensing effect. According to the moral credit concept, past behavior can cancel out or make up for any future transgression.
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van ethical judgment concerns a belief or opinion about right and wrong, or good and evil. which of the following is an ethical judgment?
Van ethical judgment concerns a belief or opinion about right and wrong, or good and evil. Morality is an ethical judgment.
What are the Characteristics and instances of ethical judgment consist ?Characteristics and instances of ethical judgment consist of making the best option in the face of a challenge and choosing the one that is most consistent with morality and ethics. It is a personal choice, yet it is influenced by societal moral ideals. Kinds of Judgement
One of the most contentious, significant, and remarkable aspects of Kant's theory of judgment is his numerous categorization of judgments based on logical form and semantic content.
Indeed, the significance of Kant's various categorizations of judgments has occasionally led to the mistaken belief that his theory of justice will stand the test of time.
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NOTE: The given question is incomplete on the portal. Here is the complete question.
QUESTION: Van ethical judgment concerns a belief or opinion about right and wrong, or good and evil. Which of the following is an ethical judgment
(A) morality
(B) moral problems
(C) moral judgments.
(D) None of these
Analyzing campaign expenditures, the media has had as a focus the high costs and low ethics of campaign finance, but they have generally overlooked the cost of actually administering elections, which includes facilities, transport, printing, staffing, and technology. (A) Analyzing campaign expenditures, the media has had as a focus (B) Analyses of campaign expenditures by the media has been focused on (C) In analyzing campaign expenditures, the media have focused on (D) Media analyses of campaign expenditures have had as a focus (E) In their analysis of campaign expenditures, the media has been focusing on
In analyzing campaign expenditures, the media have focused on the above scenario. (Option C)
Which particular tense is used in the above sentence?The present perfect tense is used in this sentence to express acts that began in the past and are still being carried out today. The present tense of the auxiliary verb "have" and the past tense of the main verb combine to generate the present perfect. Focus is the primary verb in this sentence, while focussed is the past participle.
Because it employs the past simple tense ("had as a focus") rather than the present perfect, option (A) is wrong. Because it uses "analysis" instead of "analyses," Option (B) is wrong. Because it uses "have focused" rather than "have had as a focus," option (C) is wrong. Because it substitutes "has been focusing" for "has had as a focus," Option (E) is erroneous.
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Use the following information and the indirect method to calculate the net cash provided or used by operating activities:Net income $12,800Depreciation expense $11,600Payment on mortgage payable $14,400Gain on sale of land $7,900Increase in merchandise inventory $2,100Increase in accounts payable $6,500Proceeds from sale of land $8,500A. $35,300B. $12,400.C. $20,900.D. $7,900.E. $40,900.
The net cash provided or used by operating activities is $20,900 (C).
The calculation is shown below:
Net income plus depreciation costs, gain from the sale of land, an increase in inventory of goods, and an increase in accounts payable equals net cash produced by operational activities.
Net cash from operating activities equals $12,800 plus $11,600 minus 7,900 minus 2,100 plus $6,500.
Net cash used for operating purposes is $20,900.
Operating activities are all the things a company does to bring its products and services to market on an ongoing basis. Non-operating activities are one-time events that may affect revenues, expenses or cash flow but fall outside of the company's routine, core business.
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If output grows by 8 percent and the population declines by 2 percent, per capita will have grown by _____.
a) 8
b) 5
c) 4
d) 10
Per capita will have increased by 10% if output increases by 8% and the population fall by 2%.
Reduced immigration, population aging, and falling fertility rates are thought to be the main causes of the drop in U.S. population growth. The United States slowing population growth rate is mostly due to a decline in net immigration to the country.
Overall, migration and natural change are two very fundamental factors that determine whether the population increases or decreases. The balance between these components, as this blog has shown, varies from place to place but generally follows patterns throughout states or regions.
Population reduction will reduce both the number of people who are of working age and those who are of military age, hence reducing military might.
Per capita output growth = economic growth - population growth
= 8 percent - (-2 percent)
= 10 percent
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Consider the following statements:
I. A division's net operating income, after deducting both traceable and allocated common fixed costs, is negative.
II. The division's avoidable fixed costs exceed its contribution margin.
III. The division's traceable fixed costs plus its allocated common corporate costs exceed its contribution margin.
Which of the above statements is a valid reason for eliminating the division?
Only II
The division's contribution margin is outweighed by its avoidable fixed costs.
What occurs if the contribution margin falls short of covering fixed costs?The period will end with a net loss if the contribution margin is insufficient to cover fixed costs. Ratio of contribution margin: As all of these factors—sales, variable costs, and contribution margin—are determinable, they can all be stated as a percentage of revenue.
What transpires when contribution exceeds fixed cost?Fixed costs include mortgage or rent payments, utilities, yearly salary, and other costs you have regardless of sales. You experience an operating loss if your contribution is less than your fixed costs. You have an operating profit if it is more than your fixed costs.
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for the remainder of the organization to capitalize on lessons learned, a method must be established for documenting and sharing them.
For the reminder of the organization to capitalize on lesson learned, a knowlegde documentation method must be established for documenting and sharing them is TRUE.
Knowledge documentation method allows a company to capitalized their experiences. This method is called Experience Capitalization.
Experience capitalization helps a company to transform individual and institutional experience and knowledge into capitals. Experience capitalization aims at a change in collective institutional practice. Experience capitalization allows a company to describe and analyze a specific project or programme or any experience in general. Lessons from those experiences are identified, shared, and used to improve development interventions.
Experience capitalization helps team members to understad the reasons behind each success and failure using the documented real-life experiences.
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shifting some of the spotlight from leadership to followership is one way to assure that followers get the credit they deserve. True or False ?
The Leader, the Subordinates, the Institution or Workplace, and finally the Situation and Environment are among the most important factors that influence the choice of leadership styles or behaviors in a workplace situation.
Which position on the Leadership Grid demonstrates a high level of concern for people but a low level of concern for production?
Leaders who practice the country club leadership style are most concerned with their team members' needs and feelings. Relationship-oriented managers care more about people than they do about production in this setting.
What aspect of leadership is the most critical?
A leader's ability to communicate effectively is probably the most important quality in a leader. Problems are left unresolved without it; Even when certain aspects of the business could be made more productive or effective, aspects that could be improved or made more profitable remain unchanged.
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Marginal Private Benefits and Marginal Social Benefits. Without government
intervention, this market will produce _____ units at a price of _____.
A) Q0; P0
B) Q1; P0
C) Q1; P2
D) Q2; P1
Marginal Private Benefits and Marginal Social Benefits. Without government intervention, this market will produce Q1 units at a price of P2.
The marginal social benefit curve: what is it?
The demand curve is the marginal social benefit curve if customers are the only group benefiting from a good or service. The benefit society experiences when an additional unit of a good or service is produced is known as the marginal social benefit.
What does the term "marginal benefits" mean?
The utmost price a buyer will pay for an additional commodity or service is known as the marginal benefit. A marginal advantage is also the extra satisfaction a customer experiences after buying the extra commodity or service. The marginal benefit often declines with rising consumption.
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bonds (and notes) mature at more than one date (often in series) and, thus, are usually repaid over a number of periods. multiple choice question. serial convertible bearer secured
Serial bonds (and notes) mature at more than one date (often in series) and, thus, are usually repaid over a number of periods.
What is serial bonds?A serial bond can be described as the bond issue that is structured so that a portion of the outstanding bonds mature which is been done at regular intervals prior to the time that the bonds will be matured the reason behind this is that bonds mature gradually over a period of years, however these bonds are used to finance projects which bring about the consistent income stream for bond repayment.
In conclusion, the Serial bonds can be seen as a financial bonds that tye maturity is been seen in installments with respect to time which can be seen as an effect with $100,000, 5-year serial bond can have th. over a 5-year interval.
Therefore, option A is correct.
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When a claim is successful under ADEA, which of the following are generally avallable to the plaintiff? a. punitive damages and compensatory damages b. punitive damages and back pay c. back pay and reinstatement d. damages for pain and suffering
When a claim is successful under ADEA, which of the following are generally available to the plaintiff is punitive damages and back pay.
The person who files a lawsuit with the court is known as the plaintiff. In doing this, the plaintiff is looking for a legal remedy. The court will rule in the plaintiff's favour and issue the necessary orders if this search is successful. In most English-speaking countries, the term "plaintiff" refers to the party bringing a civil lawsuit.
Notable exceptions include England and Wales, where the term "claimant" has been used since the Civil Procedure Rules were introduced in 1999, and Scotland, where the term "pursuer" has always been used. In criminal trials, the prosecutor is the one who presents the evidence against the defendant, while the main complainant is sometimes referred to as the "complainant."
Hence the correct option is B.
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Carrie's Coffee Cafe has markets all over the world. The company should remember that basic strategy planning decisions for advertising and sales promotion ______.
Persuade potential customers to try a sample of the product. Emphasize that the product is more innovative than its rivals. Promote the company website as a way for customers to learn more about the product.
Comparative advertising is a marketing strategy in which a company's product or service is presented as superior to that of the competition. A comparative advertising campaign may involve printing a side-by-side comparison of the features of a company's products against those of its competitor. Offering discounts on products is one of the most popular types of sales promotions. Your business can advertise a discount on a product, such as $15 off or 20% off, to attract customers to your business rather than competitors with similar products. A pull promotion strategy, also called a pull marketing strategy, is the opposite of a push strategy. Rather than trying to get products directly in front of customers, a pull strategy aims to get customers to the product.
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Larry purchases land to be used for a new corporate headquarters. Which of the following items are capitalized in the cost of land?
(1) costs to remove an old building
(2) legal fees to secure title
(3) title insurance
(4) grading the land
The costs to remove an old building, legal fees to secure title, title insurance, land preparation are capitalized in the cost of land.
What does the capitalized cost of land include?Land acquired to build a home is capitalized as land. Expenses for preparing the property for use. Demolition of a structure is considered part of the property.
Leveraging costs is profitable. This is because companies that acquire new long-term assets can amortize or amortize the expense. This is called capitalization. These costs include the purchase price of the property, title fees, attorney fees, survey fees, and zoning fees.
It often includes site preparation costs such as grading and drainage, as well as demolition of old structures. All of these costs can be considered normal and essential in preparing the country for its intended purpose.
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Which of the following is the term used to describe the discount rate at which the present value of a project's cash inflows will equal the present value of its cash outflows?multiple choiceInternal Rate of Return CorrectMinimum Required Rate of ReturnSimple Rate of Return
internal rate of return is the term used to describe the discount rate at which the present value of a project's cash inflows will equal the present value of its cash outflows.
Cash flow is the net amount of cash and cash equivalents coming into and going out of a business. Inflows are represented by money received, and outflows are represented by money spent.
Ability to generate positive cash flows, or more specifically, ability to maximize long-term free cash flow, is fundamentally what determines a company's ability to create value for shareholders. After deducting any funds used for capital expenditures, a company's free cash flow (FCF) is the cash it generates from its regular business operations.
The amount of money a company receives and expends is known as its cash flow. Businesses receive revenue from sales and spend that revenue on overhead. Additionally, they might make money from investments, royalties, licensing deals, and interest payments. They might also sell goods on credit with the expectation of receiving the money owed at a later time.
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channel stuffing is: group of answer choices waiting to ship out products until the beginning of the year waiting to ship out products until you are certain they will be sold shipping out products at the end of the year to increase revenue, even if they are likely to be returned shipping out products at the start of the year even though it is certain that there would be more demand during the year
Channel stuffing usually occurs right before a reporting period, such as quarter-end or year-end, in order for management, who is worried about negative effects on their salary, to "make their numbers."
How Does Channel Stuffing Operate?Channel stuffing is the practise of sending more products than customers are likely to purchase in a reasonable amount of time to distributors and retailers throughout the distribution channel. This is typically accomplished by providing distributors and retailers with enticing incentives to buy larger quantities than they currently require, such as steep discounts, rebates, and longer payment terms.
In other words, stuffing always catches up with the business since it can't continue to stuff sales at that rate. Channel stuffing occurs not just in the wholesale and retail sectors of the economy, but also in the industrial, high-tech, and pharmaceutical sectors. A corporation found guilty of channel stuffing in 2016 is an egregious example is Valeant Pharmaceuticals.
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A new production technology for making vitamins is invented by a college professor who decides not to patent it. Thus, it is available for anybody to copy and put into use. The TC per bottle for production up to 100,000 bottles per day is given in the following table.
Instructions: In part a, round your answers to 2 decimal places. In parts c and d, enter your answers as whole numbers.
a. What is ATC for each level of output listed in the table?
output TC ATC
25,000 90,000 ?
50,000 110,000 ?
75,000 115,000 ?
100,000 120,000 ?
b. Suppose that for each 25,000-bottle-per-day increase in production above 100,000 bottles per day, TC increases by $5,000 (so that, for instance, 125,000 bottles per day would generate total costs of $125,000 and 150,000 bottles per day would generate total costs of $130,000). Is this a decreasing-cost industry?
(Click to select )No or Yes
c. Suppose that the price of a bottle of vitamins is $2.13 and that at that price the total quantity demanded by consumers is 75,000,000 bottles. How many firms will there be in this industry?
d. Suppose that, instead, the market quantity demanded at a price of $2.13 is only 75,000. How many firms do you expect there to be in this industry?
The ATC for each level of output listes in the table is computed as under. Yes, It is a decreasing Cost Industry. There will be around 1.53 firms in the industry.
Average total cost is the sum of all production costs divided by the quantity of units produced. Add up all fixed and variable costs, then divide by the quantity of units produced to determine average total cost.
In the given questions,
a. We know that,
Average Total Cost = Total Cost/Quantity
Therefore, the solutions for the same are computed in the form of a table and attached in the form of an image.
b. Here, also a table is attached in the form of an image and the calculations are computed for additional two items. So from the given table, we can conclude that, The cost of production increases with each 25,000 bottles, increase in the production above 100,000 bottles per day. The total cost is increasing by $5,000 but the average cost is decreasing. Therefore, the industry is a decreasing-cost industry.
c. The marked price is $2.13 at the price total quantity demanded by consumers is 75,000 bottles. At market price, $2.13, no firm will demand less than 75,000 quantity. There will be 1.53 firms in the industry.
d. The market quantity demanded at a price $2.13 is only 75,000. They expect only 1.5 firms in the industry.
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high-performance teams lead to stronger work units and better team performance. there are eight essential considerations when trying to build a group into an effective team. this activity is important because building high-performance teams requires work on the part of managers, but the payoff is substantial.
Care for each other, be open and truthful, High levels of trust, Consensus decisions, Commitment, Address conflict, Real listening, and Express feelings.
Organization development uses the term "high-performance teams" to describe groups that are exceptionally focused on their objectives and provide superior business outcomes. High-performing teams exceed all other teams of a comparable nature and expectations based on their make-up. High levels of trust and a clear sense of purpose and vision are the foundations of high performing teams. When there is a clear goal inside an organization, employees perform most effectively and efficiently. People want to have an objective to work toward.
Both the leader and the peers must be trusted by the workforce. High-performing teams are made up of members with complementary abilities and specialized knowledge who are hyper-focused on delivering remarkable, distinct results and goal-oriented.
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Which of these is not one of the common reasons why sport organizations have transitioned to mobile ticketing? a. It makes it easier to transfer tickets to others b. It combats fraudulent tickets. c. WiFi is always easily accessible around stadiums d. It allows sport organizations to capture fan data
WiFi is always easily accessible around stadiums is not one of the common reasons why sport organizations have transitioned to mobile ticketing.
A commuter can buy, submit, or validate a ticket using a smartphone app and a bank card or wallet to pay for the virtual ticket. This method is known as mobile ticketing.
They don't need to keep track of paper tickets because they can buy and store tickets on their phones. Second, it makes it simpler for firms to keep track of sales and clients. Finally, since it is more difficult to replicate or fake a mobile ticket, mobile ticketing can aid in reducing fraud. Similar to etickets, mobile tickets can only be accessed directly through our app and must first be "activated" before usage.
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if customers buy a quantity of seven products per week, regardless of the price, the numeric value of the price elasticity of demand for the product is:_________.
If customers buy a quantity of seven products per week, regardless of the price, the numeric value of the price elasticity of demand for the product is zero.
What is the price elasticity of demand?Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
When a person purchases the same quantity of a good regardless of the price, it means that demand is perfectly inelastic. Perfectly inelastic demand means that the same quantity of a good is bought regardless of the price. Essential goods usually have a perfectly inelastic demand.
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On December 29, 2021, Patel Products, Incorporated, sells a delivery van that cost $20,000. The equipment had accumulated depreciation of $16,000 at December 31, 2020. Annual depreciation on this equipment is $2,000 computed using straight-line depreciation. Complete the necessary journal entry to bring the accumulated depreciation up-to-date by selecting the account names from the drop- down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet On December 29, 2021, Patel Products, Inc., sells a delivery van that cost $20,000. The equipment had accumulated depreciation of $16,000 at December 31, 2020. Annual depreciation on this equipment is $2,000 computed using straight-line depreciation. Note: Enter debits before credits. General Journal Debit Credit Date Dec. 29 Clear entry View general journal Record entry
The Depreciation expense observed is equal to $2,000 (debit). The Accumulated depreciation observed is equal to $2,000 (credit)
What is Depreciation?
Depreciation is an accounting technique for spreading out the expense of a tangible item over the course of its useful life. How much of an asset's value has been used is shown through depreciation. It enables businesses to purchase assets over a predetermined length of time and generate income from those assets. The immediate cost of ownership is greatly lowered because businesses do not have to fully account for them in the year the assets are purchased. A company's profits can be significantly impacted by not accounting for depreciation. Long-term assets can also be depreciated by businesses for tax and accounting reasons. Depreciation is comparable to amortization, which takes into account the increase in value of intangible assets over time.
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We are examining the market for the Canadian dollar relative to the Mexican peso. Suppose the inflation rate in Canada increases relative to Mexico's inflation rate. a. What will happen to the demand and supply of Canadian dollars? 10 points Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click the option twice to empty the box. ? Demand for Canadian dollars decreases. ? Demand for Canadian dollars increases. ? Supply of Canadian dollars increases. ? Supply of Canadian dollars decreases. b. The Canadian dollar will depreciate relative to the peso and the peso will appreciate relative to the Canadian dollar. c. The quantity of Canadian dollars traded in the market will increase, decrease, or remain the same
If inflation increases in Canada relative to Mexico, the demand for Canadian dollars would decrease and the supply of Canadian dollars would increase.
The Canadian dollar will depreciate relative to the peso and the peso will appreciate relative to the Canadian dollar.
The quantity of Canadian dollars traded in the market will decrease.
What is the effect of inflation on the value of a country's currency?Inflation is when the general price levels in an economy increases. Inflation reduces the value of a country's currency. This means that there is an inverse relationship between the value of a country's currency and inflation rate.
Deprecation is when the value of a currency declines. Appreciation is when the value of a country's currency increases.
When inflation is higher in Canada than in Mexico, people would want to hold less of the Canadian dollars due to its decline in value. As a result, the demand for the Canadian dollars would decrease. People would want to sell of the Canadian dollars they have and hold a currency that has less inflation. This would increase the supply of Canadian dollars.
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