A choice made using the marginal principle involves comparing the costs and benefits of an activity.
What is a marginal principle?
A study of an activity's additional benefits in relation to its additional expenditures is known as the marginal principle (MB) (MC). Marginal refers to the focus on the cost or benefit of the succeeding unit or individual, such as the price of producing an extra widget or the earnings from hiring an extra employee. This hypothesis contends that people make choices regarding their finances "on the margin." That is the amount of additional utility that a unit of an item or service gives determines its value. The significance of this idea for modern economic knowledge cannot be overstated. The term "marginal cost" refers to the total expenses incurred in manufacturing an additional well.
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Should you invest $60,000 in a project that will return $15,000 per year for five years? You have a minimum return of 8% and expect inflation to hold steady at 3% over the next five years.
Please help...
Answer:
I would not take the money due to inflation through the years. As we all know prices have increased by a lot, for example; $1 in 1950 is equivalent in purchasing power to about $12.32 today. If you do request a higher amount for the big investment you made. Otherwise ask for a higher price now.
Explanation:
The dollar had an average inflation rate of 3.50% per year between 1950 and today, producing a cumulative price increase of 1,131.52%.
We note that fewer motorcycles were sold this year than last, and the price is also lower. What event could have caused this outcome?a. a technological change that improved the fuel efficiency of motorcyclesb. a rise in the wages paid to motorcycle manufacturing workersc. a motorcycle craze due to the popularity of Sons of Anarchyd. increasing concerns about health impacts from breathing motorcycle exhaust
Option A is the most likely event that could have caused the outcome of lower motorcycle sales and prices.
It is difficult to determine the exact cause of the lower sales and prices of motorcycles without additional information, but one possible explanation is option A: a technological change that improved the fuel efficiency of motorcycles.
If new technology is developed that improves the fuel efficiency of motorcycles, consumers may be more likely to choose these newer, more efficient models over older ones. This could lead to lower sales of older models and a drop in prices for both new and used motorcycles.
Additionally, a rise in the wages paid to motorcycle manufacturing workers (option B) is unlikely to cause a decrease in motorcycle sales and prices. In fact, higher wages could potentially increase demand for motorcycles if consumers have more disposable income to spend.
Similarly, a motorcycle craze (option C) or increasing concerns about health impacts from breathing motorcycle exhaust (option D) may not have a direct impact on sales and prices, although they could potentially affect consumer preferences and behavior in the long term.
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What are the determinants of supply? 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. Income 7 Prices of other goods 7 Technology | Tastes and preferences Resource prices Number of producers b. What happens to the supply curve when any of the following determinants change? Indicate whether each of these determinants causes a shift of the supply curve or a movement along the curve. 1. Change in market price: (Click to select) I. Change in factor productivity: (Click to select) ill. Change in producer expectations: Click to select) Iv. Change in the price of other goods: (Click to select) v. Change in technology: (Click to select) V. Change in resource prices: Click to select) VII. Change in taxes: (Click to select) c. Given the following diagram, Indicate whether the specified changes below represent a change in supply or a change in the quantity supplied. Price P Quantity A change from point A to point B: (Click to select) A change from point A to point (Click to select)
The determinants of supply include the factors, that can change or affect the supply of a product in the market, that include price, input price, technology, expectations and number of products.
When any of the determinants of supply is altered, it causes a significant change in the supply curve too. Larger supply means increased demand and large number of quantities are supplied. This usually happens when the determinants like price, technology, expected variations are altered. Good technology means that the larger quantities can be produced at a lower cost, and thus the quantity supplied would increase at an effective cost.
A change in the prices of goods significantly caused the supply curve to fall downward or rise. If the curve shifts to right, it means there is a significant increase in the supply, or vice-versa. The same is applied to a demand curve in economy.
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Consider the market for shoes. Which of the following effects would cause the supply curve to shift to the right? Select all that apply.
A. The price of shoe laces increase note that shoes are sold with shoe laces).
B. Outdoor sports suddenly become less popular as more people play video games.
C. The price of leather bags fall (note shoes and leather bags are made out of the same material and assembling them requires a similar skill set).
D. O Gas prices increases. Note many shoes, including boots, are made for walkin'.
E. Tariffs (taxes on an import) on imported shoes fall
The following effects would cause the supply curve to shift to the right:
C. The price of leather bags fall (note shoes and leather bags are made out of the same material and assembling them requires a similar skill set).
E. Tariffs (taxes on an import) on imported shoes fall.
As per the question given,
A. An increase in the price of shoe laces would increase the cost of producing shoes, which would decrease supply and shift the supply curve to the left.
B. A decrease in demand for outdoor sports would decrease the demand for athletic shoes, but it would not directly affect the supply of shoes, so it would not shift the supply curve.
C. A decrease in the price of leather bags would reduce the cost of producing shoes, which would increase supply and shift the supply curve to the right.
D. An increase in gas prices would increase the cost of transporting shoes, which would decrease supply and shift the supply curve to the left.
E. A decrease in tariffs on imported shoes would reduce the cost of importing shoes, which would increase supply and shift the supply curve to the right.
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Short-run total cost is TC = wL + rK, and short-run average cost curve is TC/Q. Because the average cost is a weighted average of the marginal cost and the fixed cost, the SMC is 4.01 and the SMC curve crosses the SAC curve at its lowest or smallest points.
What is the firm short-run total cost curve and short-run average cost curve functionA.
To establish the firm's short-run total cost curve, we must first determine the total cost at each level of output.
Where w is the wage rate, L is the amount of labor utilized, r is the interest rate, and K is the amount of capital used, TC is computed as wL + rK. In this case, r equals 1 and w equals 4.
The short-run average cost curve is obtained by dividing the total cost by the level of output:
Q = TC; SAC
Q stands for the output level.
B.
The short-run marginal cost function can be built using the overall cost change for a slight change in production level.
SMC = dTC / dQ
L = 25 / 2 = 12.5, which is the amount of labor necessary for an output level of 25. The total cost can be calculated as follows:
TC = 4 * 12.5 + 1 * 100 = 50 + 100 = 150
Thus, the short-run average cost is SAC = 150 / 25 = $6 and the short-run marginal cost is SMC = dTC / dQ. To compute the derivative, we must use the production function offered:
Q = 2 * sqrt (KL)
We arrive at the following equation by computing the derivative with respect to L: dQ/dL = (1 / (2 * sqrt(KL)) * 2K = K / (sqrt(KL)).
SMC = 4 + (1 / sqrt(100 * 12.5)) yields the equation:
For an output level of 200, the needed labor is L = 200 / 2 = 100. The total cost can be calculated as follows:
TC = 4 * 100 + 1 * 100 = 400
Thus, the short-run average cost is SAC = 400 / 200 = $2 and the short-run marginal cost is SMC = dTC / dQ. To compute the derivative, we must use the production function offered:
Q = 2 * sqrt (KL)
We arrive at the following equation by computing the derivative with respect to L: dQ/dL = (1 / (2 * sqrt(KL)) * 2K = K / (sqrt(KL)).
SMC = 4 + (1 / sqrt(100 * 100)) is the result of substituting the variables.
SMC = 4.01
C.
To create the SAC and SMC graph, we must first compute the SAC and SMC for various output levels. Plotting the SAC and SMC versus the output level will then get the graphs.
D.
The SMC curve intersects the SAC curve at its lowest or minimum points since the average cost is a weighted average of the marginal cost and the fixed cost. When output is low, a large portion of the overall cost is made up of fixed costs, and the marginal cost is high. As output level increases, the fixed cost portion of the total cost increases but the marginal cost decreases. The marginal cost crosses the average cost at that point, which causes the average cost to decline and reach its lowest point.
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Decisions about which benefits an organization will include should take into account
A.how much the organization values its employees.
B.popular trends.
C.how the organization’s stocks are performing.
D.the benefits the government recommends employers offer.
E.the expectations of the organization’s current employees.
Option E is correct. Decisions about the expectations of the organization’s current employee benefits an organization will include should take into account.
Employee benefits and benefits in kind (likewise called incidental advantages, perquisites, or advantages) incorporate different sorts of non-wage pay given to representatives notwithstanding their typical wages or salaries. Occasions where a representative trades (cash) compensation for another type of advantage is by and large alluded to as a "pay bundling" or "pay trade" game plan. In many nations, most sorts of representative advantages are available somewhat in any event. Instances of these advantages include lodging (boss gave or business paid) outfitted or not, regardless of free utilities; bunch protection (wellbeing, dental, life and so forth); inability pay insurance; retirement benefits; childcare; educational cost repayment; wiped out leave; get-away (paid and neglected); government-backed retirement; benefit sharing; manager understudy loan commitments; conveyancing; long assistance leave; homegrown assistance (workers); and other particular advantages.
The motivation behind representative advantages is to build the financial security of staff individuals, and in doing as such, further develop specialist maintenance across the organization.
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Lucy Down earns an annual salary of $25,890.00 as an administrative assistant. She is married and has one child. Her state withholding tax rate is 4.8 percent of taxable earnings. What is the total of Lucy’s personal exemption? _______________ What is her annual state tax withholding rounded to the nearest dollar? _______________
Lucy Down makes $25,890.00 per year as an administrative assistant. She's married with one child. The state withholding tax rate on her taxable earnings is 4.8 percent Nothing deduction gave because her is child is not minor. Lucy's total personal exemption. Her yearly state tax withholding in dollars and cents. $24647.28.
What is personal exemption?Until 2017, the personal exemption was a federal income tax relief. The personal exemption was repealed by the Tax Cuts and Jobs Act of 2017 for tax years 2018 through 2025.
The exemption was designated for a subsistence level of income that was not taxed and provided an exemption for each taxpayer-supported individual. The personal exemption may be claimed by the taxpayer for themselves, their spouse, and any eligible dependents. Due to current tax rules, there is no personal exemption.
However, the standard deduction for most taxpayers has more than quadrupled throughout that time span. Many taxpayers will no longer need to itemize deductions because of the greater basic deduction. It does, however, vary based on a taxpayer's filing status and does not provide for extra exemptions for dependents.
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op Date What is Animais kingdome
What is the profit maximizing level of output for this pure monopolist?
The profit maximizing level of output for a pure monopolist occurs where marginal revenue (MR) equals marginal cost (MC) and the corresponding price is set on the demand curve.
Without more information on the specific demand and cost functions, it is not possible to determine the profit maximizing level of output for a pure monopolist.
In microeconomics, a pure monopolist is a company that has complete control over the supply of a particular product or service in a given market. As such, it has the power to set the price of its product or service to maximize its profits.
To determine the profit-maximizing level of output, the monopolist must consider two factors: the marginal revenue (MR) and marginal cost (MC) of producing one additional unit of output. The MR represents the additional revenue earned from selling one more unit, while the MC represents the additional cost of producing one more unit.
The profit-maximizing level of output is the point where the MR is equal to the MC. At this point, the monopolist is producing the optimal quantity of output, and any additional units produced would result in a decrease in profits.
In other words, the profit-maximizing level of output for a pure monopolist is the point where:
MR = MC
By setting the output level at this point, the monopolist is able to charge the highest price that the market will bear while still maximizing its profits.
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Florist Gump, Inc. sold 1,000 vases of flowers for $50 each for cash. The entry to record the sale includes a ______. (Select all that apply.)A. credit to Cash for $50,000
B. debit to Cash for $50
C. credit to Sales Revenue for $50
D. debit to Cash for $50,000
E. credit to Sales Revenue for $50,000
F. debit to Accounts Receivable for $50
G. debit to Sales Revenue for $50,000
Florist Gump, Inc. sold 1,000 vases of flowers for $50 each for cash. The entry to record the sale includes a credit to Sales Revenue for $50,000 debit to Cash for $50,000.
What elements normally make up a company's cash balance?Current assets are ones that can be turned into cash within a year. These primarily include of cash, stocks, accounts receivable, prepaid expenses, and inventory.
Is a sale typically regarded as revenue even when money is not exchanged?Revenue may be recognized in accordance with certain regulations even though payment has not yet been made. To determine how effectively a business collects debt, it is important to review the cash flow statement. Cash accounting, on the other hand, only counts sales as income when money has been exchanged.
When a business sells goods to a consumer on credit, what journal entry should be made to document the transaction?A business extends credit to a customer to purchase goods. A debit entry to the Accounts Receivable account would be part of the journal entry to document this transaction.
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What did the increase in the European food supply contribute?
The expansion of potatoes and maize production contributed to the food supply in Europe.
Will there be a shortage of food?There are currently no food shortages nationwide, though your grocery store may temporarily run out of certain foods before it can replenish them. Food production and manufacturing are spread out across the United States, and there have been no widespread supply chain disruptions reported as of yet.
Together with industry and our federal and state partners, the USDA and the Food and Drug Administration closely monitor the food supply chain for any shortages. We communicate frequently with grocery stores and food manufacturers.
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Each display in a marketing dashboard shows a which is a measure of the quantitative value or trend of a marketing action or result. a. linear extrapolation b. marketing plan c. planning gap d. Gantt chart e. marketing metric
Every display in a marketing dashboard shows an e. marketing metric, which measures the quantitative value or trend of a marketing action or result.
A marketing dashboard often shows a number of metrics that provide light on how various marketing initiatives and campaigns have performed. These indicators, which gauge the worth or trend of a specific marketing action or outcome, are frequently quantitative.
A business can quickly and easily monitor key metrics and make data-driven decisions about how to spend resources and optimize marketing campaigns when this information is presented in a dashboard style. The dashboard may incorporate various visualization formats such as pie charts, tables, graphs etc to help display the data and discover trends over time. It can be tailored to the particular demands and objectives of the business.
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Central to the debate over privacy legislation is the notion of:
Question 13 options:
opt-in and opt-out
privacy clearinghouse
cyberprivacy controls
antivirus software
Central to the debate over privacy legislation is the notion of: opt-in and opt-out.
What is antivirus software, and how does it protect against privacy breaches and cyber threats?Antivirus software is a program designed to protect your computer or device from malware, viruses, and other cyber threats. It works by scanning your system for any suspicious or malicious files, and either quarantining or deleting them. Antivirus software can also provide real-time protection by monitoring your online activity and blocking any attempts to access harmful websites or download dangerous files. By detecting and removing threats, antivirus software can help safeguard your personal information, such as login credentials and financial data, and prevent privacy breaches that could lead to identity theft or other forms of cybercrime.
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Trevor is a single individual who is a cash-method, calendar-year taxpayer. For each of the next two years (year 1 and year 2), Trevor expects to report AGI of $80,000, contribute $8,000 to charity, and pay $2,800 in state income taxes. (Amounts to be deducted should be indicated with a minus sign.) Required: a. Estimate Trevor's taxable income for year 1 and year 2 using the 2019 amounts for the standard deduction for both years. b. Now assume that Trevor combines his anticipated charitable contributions for the next two years and makes the combined contribution in December of year 1. Estimate Trevor's taxable income for each of the next two years using the 2019 amounts for the standard deduction. c. Trevor plans to purchase a residence next year, and he estimates that additional property taxes and residential interest will cost $2,000 and $10,000, respectively, each year. Estimate Trevor's taxable income for each of the next two years (year 1 and year 2) using the 2019 amounts for the standard deduction and also assuming Trevor makes the charitable contribution of $8,000 and state tax payments of $2,800 in each year. d. Trevor plans to purchase a residence next year, and he estimates that additional property taxes and residential interest will cost $2,000 and $10,000, respectively, each year. Assume that Trevor makes the charitable contribution for year 2 and pays the real estate taxes for year 2 in December of year 1. Estimate Trevor's taxable income for year 1 and year 2 using the 2019 amounts for the standard deduction.
Trevor's taxable income for years 1 and 2 were calculated using the standard deduction for single taxpayers in 2019, which was $12,200.
How can it be calculated in detail?AGI in Year 1: $80,000
Donations to charity ($8,000)
Taxes on state income ($2,800)
12200 dollars in standard deduction
taxable income $56,000
AGI in Year 2: $80,000
Donations to charity ($8,000)
Taxes on state income ($2,800)
12200 dollars in standard deduction
taxable income $56,000
b. If Trevor aggregates his projected charitable donations for the next two years and contributes the total of $16,000 in December of year 1, his taxable income for years 1 and 2 will be calculated using the standard deduction for 2019 as follows:
AGI in Year 1: $80,000
Donations to charities ($16,000)
Taxes on state income ($2,800)
12200 dollars in standard deduction
$49,000 of income is taxable.
AGI in Year 2: $80,000
Making donations to charities Taxes on state income of $0 ($2,800)
12200 dollars in standard deduction
Taxable earnings of $65,000
c. Using the standard deduction for 2019 and assuming Trevor makes an annual gift to charity of $8,000 and pays state taxes of $2,800, the following computation is made for Trevor's taxable income for years 1 and 2 with extra property taxes and residential interest:
AGI in Year 1: $80,000
Donations to charity ($8,000)
Taxes on state income ($2,800)
($2,000) in property taxes
($10,000) Residential interest
12200 dollars in standard deduction
$44,000 of it is taxable
AGI in Year 2: $80,000
Donations to charity ($8,000)
Taxes on state income ($2,800)
($2,000) in property taxes
($10,000) Residential interest
12200 dollars in standard deduction
$44,000 of it is taxable
d. If Trevor pays the real estate taxes for year 2 in December of year 1, makes the $8,000 charity donation and $2,800 in state tax payments in year 1, and uses the standard deduction for 2019, the following computation is made for his taxable income for years 1 and 2:
AGI in Year 1: $80,000
Donations to charity ($8,000)
Taxes on state income ($2,800)
($2,000) in property taxes
($10,000) Residential interest
12200 dollars in standard deduction
$44,000 of it is taxable
AGI in Year 2: $80,000
Donations to charity ($8,000)
federal income taxes No property taxes Home interest was zero ($10,000).
12200 dollars in standard deduction
Taxable income: $48,00
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Cute Camel Woodcraft Company is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet.
The balance sheet is a financial and accounting system that offers a summary of the individual's and organization's financial circumstances. It is possible to form a sole proprietorship or a partnership.
The answer is adorable carmel total C.A grew between 1 and 2 years.
The balance sheet provides information about the firm. It is used by both the investors and the analyst of the adorable Carmel woodcraft firm to track their success.
The sheet is designed for the first and second years. Cash and Cash Equivalents = Current Assets - Accounts Receivable - Inventories in Year 2. As a result, $8,072 is the result.
Following that, Net Plant & Equipment = Total assets - Total current assets for both years. The total is thus $24,063. As a result, Total CL = Accruals + N.Payable = $2,734.
A 2 Earnings retained = Total Common Equity - Common Stock = $11,485.
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Use the following information for the ten (10) questions that follow. company a (a) sells merchandise to company b (b) that b intends on reselling to retail consumers. b purchases the merchandise under the terms of 5/15 n/30. b purchases 100 units at a cost of $8 per unit. the cost to a of the merchandise sold was $5 per unit. after 10 days, b returns 10 units to a. there were no defects in the products and a intends on reselling these 10 items at a later date. after 14 days, b pays what it owes to a.
1. The net impact on B's income statement from the COGS would be 620 dollars.
2. A's income statement would ultimately see a $40 decline in net sales.
3. The answer to question 1 revealed that the net effect on B's income statement would leave the net sales amount at 620 dollars.
1) For B, the cost of goods sold (COGS), which affects the income statement for the acquisition of 100 units less the 10 returned items, would be 700$ (100 units × $8 unit).
If 10 units were returned, the COGS would be decreased by 80 dollars (10 units × $8). The net impact on B's income statement from the COGS would be 620 dollars (700 dollars - 80 dollars).
B's income statement was impacted by B's expenditure of $800 on 100 items at an average cost of $8 each.
2) The impact on A's income statement: A paid $8 per unit for the items and sold them to B for a total of $800 ($100 units × $8 unit).
The price difference ($8 - $5) per unit was $3 because the cost of the products sold to A was $5 per unit.
The net sales for A would have decreased by $40 if 10 units were returned (10 units * the $4 difference between cost and sales price).
A's income statement would ultimately see a $40 decline in net sales.
3) After 14 days, B settled the debt owing to A, and the money was recorded in B's books as an accounts payable.
This payment will not affect B's net sales because it is a liability recorded as accounts payable rather than a reduction in COGS.
The net sales amount would remain at 620$ after question 1's analysis of the impact on B's income statement.
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The complete question is:
Company A sells merchandise to Company B that intends on reselling to retail consumers. B purchases merchandise under the terms of 5/15, n/30. B purchases 100 units at 8$ a unit. The cost to A of the merchandise sold was 5$ per unit.
After 10 days, B returns 10 units to A. There were no defects in the products and A intends on reselling these 10 items at a later date.
After 14 days, B pays what they owe to A.
Questions:
1) What is the impact to the income statement for B as a result of the purchase of 100 units, less the 10 items returned?
2) For A, the return of the 10 items by B will result in what impact to the income statement? Please use the net amount.
3) After the payment by B to A, what is the net sales amount that B would show on its income statement?
Match each item to its corresponding definition.
Bodily/Kinesthetic
Interpersonal
Intrapersonal
Logical/Mathematical
Naturalistic
Rhythmic/Musical
Verbal/Linguistic
Soccer Player
Accountant
Teacher
Speaker
Philosopher
Zookeeper
Choreographer
Bodily/Kinesthetic is defined as thinking about intelligence in movements. includes the ability to use movements for either self-expression
What are the definitions?A formal definition has three components: The concept (word, phrase, etc.) being defined. the group of things or ideas that the phrase refers to. The distinctive qualities.
Logical/Mathematical - Understanding complex issues and conceptualizing symbol relationships are key components of intelligence.
Naturalistic - Understanding the patterns of living things and using scientific reasoning to understand the world are two aspects of naturalistic learning.
Therefore, As a result, The corresponding definition refers to, The relationship between the participants as degree or position.
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How much should an emergency fund cover?
Answer:
six months of expenses
Explanation:
Financial experts typically recommend having an emergency fund that covers three to six months' worth of living expenses. This amount can provide a safety net in case of unexpected events such as job loss, medical emergencies, or natural disasters.
However, the exact amount of money that you need in your emergency fund can vary depending on factors such as your income, expenses, and level of job security. Some people may feel more comfortable with a larger emergency fund that covers up to twelve months of expenses, while others may feel comfortable with a smaller amount. It's important to assess your own financial situation and determine what makes the most sense for you and your family.
A corporation has 62,379 shares of $31 par stock outstanding that has a current market value of $312 per share. If the corporation issues a 4-for-1 stock split, the market value of the stock will fall to approximately
If the corporation issues a 4-for-1 stock split, the market value of the stock will fall from $312 to approximately $78.
What is a stock split?A stock split, also known as a stock divide, increases the number of shares in a corporation. After a 2-for-1 split, for example, each investor will own twice as many shares and each share will be worth half as much.
To get the market value of the stock split, the calculation is as follows:-
Current market value = $150
The market value of the stock fall is;
= Current market value / four /one
= $312 per share / 4 / 1
= $312per share / 4
= $78
Here we divide the current market value by the four-for-one stock split ratio. In doing so, we get the correct market value.
Therefore, $78 will be the market value of the stock after the stock split.
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A. The firm's short-run total cost curve can be calculated as 2√(100)L. The short-run average cost curve can be calculated as TC/Q, or 2√(100)L/Q.
B. The firm's short-run marginal cost function is MC = (2√(100))/Q. At 25 units of output, the short-run total cost is 2√(100)25 = 200, the short-run average cost is 200/25 = 8 and the short-run marginal cost is 2/25 = 0.08. At 200 units of output, the short-run total cost is 2√(100)200 = 400, the short-run average cost is 400/200 = 2 and the short-run marginal cost is 2/200 = 0.01.
C. The graph for SAC and SMC can be seen below:
D. The SMC curve intersects the SAC curve at its lowest or minimum points, which is because when marginal cost is below the average cost, the average cost decreases and when marginal cost is above the average cost, the average cost increases. Thus, at the lowest point of the SAC curve, the SMC curve must also intersect it as that is the point where the marginal cost is equal to the average cost.
______ is the management function through which managers compare present performance to pre-established performance standards.
Controlling is the management function through which managers compare present performance to pre-established performance standards.
The manager's roles that involve controlling include the following: assemble data that illustrates performance. Compared to previously established performance norms, assess current performance. Establish the next course of action and necessary adjustments to achieve the required performance metrics.
The process of controlling is continuous. Controlling is a managerial process that places an emphasis on comparing current performance standards with previously established criteria to determine whether there is a divergence and, if so, to take remedial action. The managing function entails keeping track of performance and advancement as a project is carried out and making necessary adjustments.
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How would you react if a business imposed overly restrictive rules on you?
If a business imposes overly restrictive rules, it may be frustrating for customers or clients who may feel like their needs or preferences are not being taken into account.
What is business?A corporation trying to do business is an entity that sells consumers things, services, or both. By offering products or services that clients are willing to pay for, firms are able to generate revenue for their owners or other investors. Planning for the future, working tirelessly, and having a thorough grasp of the marketplace and industry are all essential for establishing a successful firm.
Solitary proprietorships, partnerships, companies, and cooperatives are only a few of the wide range of business structures that are available. Your objectives, the level of capital you have available, and the amount of liability and control you are comfortable with will all affect the business type you choose.
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2.
Usalnum
means
having the knowledge and skills to
manage your personal finances.
Answer:
Indeed Usalnum
means
having the knowledge and skills to
manage your personal finances.
Paul White operates a kiosk in downtown Chicago, at which he sells one style of baseball hat. He buys the hats from a supplier for
$20 and sells them for $25. Paul's current breakeven point is 16,000 hats per year.
Paul's current breakeven point is 16,000 hats per year is contribution margin per unit = 25-20 = $5 per unit. Current level of fixed costs = 5*16000 = $80,000.
What is breakeven point?By comparing an asset's market price to its initial cost, the breakeven point for a transaction or investment can be identified. The breakeven point is reached when the two prices are equal.
The breakeven point formula in corporate accounting is calculated by dividing the total fixed costs of production by the revenue per unit less the variable expenses per unit.
In this context, fixed costs are those expenses that are constant regardless of the quantity of units sold. The production level at which total sales for a product equal total expenses is known as the breakeven point.
Finding unaccounted-for costs, reducing emotional decision-making, creating goals, gaining finance, and determining fair prices are all things that a breakeven analysis can assist with.
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What can any retailer learn from this case?
Relate the material in this case to the concept of the total
retail experience.
What uncontrollable factors will affect a retailer's ability to undertake the suggestions cited in the case? How would you handle them?
Based on this case, the retailer learns the importance of customer satisfaction along with branding and promotion.
What is retailer?A retailer is referred to as a distribution channel of business that purchases goods from a wholesaler in small quantities and sells them to customers. They are having direct contact with customers so they receive feedback on the products as well.
The product-related characteristics that a business cannot control are uncontrollable risk factors. Clients, competitiveness, innovation, economic conditions, and constraints are uncontrollable factors that affect retail strategy.
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Whose responsibility is it to apply generally accepted accounting principles in preparation of the company's financial statements?
It is the responsibility of the company's management to apply generally accepted accounting principles (GAAP) in the preparation of the company's financial statements.
The financial statements should accurately reflect the company's financial position, results of operations, and cash flows in accordance with GAAP. In addition, auditors who perform an independent audit of the company's financial statements also have a responsibility to ensure that the financial statements are presented in accordance with GAAP.
It is also the responsibility of the company's external auditors to ensure that the financial statements are in compliance with GAAP. However, the primary responsibility for applying GAAP lies with management. The management is also responsible for maintaining adequate internal controls to ensure the accuracy and reliability of financial information.
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Revenues cause equity to __________(decrease/increase), and they are increased on the ______ (left/right)side of the T-account.
Revenues cause equity to increase, and they are increased on the right side of the T-account.
In financial accounting, the T-account is a graphical representation of an account in which all the transactions related to that account are recorded. The account has two sides - the left side is called the "debit" side and the right side is called the "credit" side.
When a company generates revenue, it means that they have earned money from selling goods or services. This revenue is considered to be a type of equity because it contributes to the net assets of the company, which is the difference between the company's total assets and total liabilities.
To record the increase in equity resulting from the revenue, the revenue account is credited, which means that the balance on the right side of the T-account is increased. This is in line with the basic accounting equation, which states that assets = liabilities + equity. By increasing equity, the equation is balanced because the increase in assets resulting from the revenue is offset by the increase in equity.
It's important to note that revenues can also be recognized as debits in certain cases, such as when a customer returns a product and the company issues a refund. In this case, the revenue account would be debited, which would decrease the balance on the left side of the T-account. However, in most cases, revenues are credited and increase the balance on the right side of the T-account.
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To what extent do you think it’s ethical for businesses to impose such strict rules on guests?
By defining permissible practises outside of the purview of the state, business ethics strengthen the law.
What is ethical for businesses ?Businesses construct business ethics to encourage moral behaviour among their workforce and win over important constituencies like customers and investors.
Businesses must always act ethically towards their clients, even when they are unable to be held accountable for their actions, such as during the manufacturing or production stages.
Many businesses claim to uphold the ideals of integrity, honesty, and openness, but these principles must also apply to their clients.
The moral principles, laws, and attitudes that organisations exhibit in their conduct and transactions are referred to as ethical behaviour. Maintaining employee safety, following rules and regulations, and protecting the environment all require ethical behaviour.
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When Katso Corporation produces 35 units of output, its average variable cost is P5. The marginal cost of the 36th unit of output is P7. If the firm choose to produce the 36th unit of output, what will happen to average variable cost? Explain.
If the firm choose to produce the 36th unit of output, its variable cost will increase.
What is a variable cost?A variable cost is a business expense that varies according to how much a company produces or sells. Variable costs rise or fall in relation to a company's production or sales volume, rising as production increases and falling as production decreases.
Variable costs will rise as the volume of production and output rises. When fewer products are produced, the variable costs associated with production fall as a result.
Therefore, the variable cost of Katso Corporation will be above P5 when it produces the 36th unit of output.
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Julia wants her firm's gourmet snacks to be the leading brand in the U.S. market. When adopting a pricing strategy designed to gain market share, she should remember that
When adopting a pricing strategy designed to gain market share, Julia should remember some key points.
These key points include:
Set a low price: In order to gain market share, Julia should set a lower price for her gourmet snacks than her competitors. This can help attract price-sensitive consumers who may be more likely to try a new brand if it is priced lower than the established brands.Consider the competition: Julia should carefully consider her competitors' pricing strategies when setting her own prices. If her competitors are already offering low prices, Julia may need to set her prices even lower in order to gain a foothold in the market.Monitor costs: While setting a low price can help attract customers, Julia should also ensure that she is able to cover her costs and make a profit. She should carefully monitor her costs and ensure that her pricing strategy allows her to maintain a healthy profit margin.Be aware of the long-term impact: Julia should be aware that setting a low price to gain market share may not be sustainable in the long term. Once she has established her brand and gained a foothold in the market, she may need to adjust her pricing strategy in order to maintain profitability and sustain her brand's growth.Consider other factors: While pricing is an important factor in gaining market share, it is not the only factor. Julia should also consider other factors such as product quality, branding, marketing, and distribution when developing her overall strategy to become the leading brand in the U.S. market.To know more about market share:
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