The Big Mac PPP survey's premise is that a Big Mac is the same around the world. Because it uses the same inputs and distribution system, the relative cost should be the same from country to country.
How do you read the Big Mac Index?The Big Mac Index is simple to calculate. The price of a Big Mac in one country is divided by the price of a Big Mac in another. When you use each one's local currency, you get an exchange rate. Then, compare this exchange rate to the two currencies' official exchange rates.
The Big Mac index, published by The Economist, is a novel way of determining whether market exchange rates for different countries currencies are over or undervalued. It accomplishes this by comparing each currency to a common standard - the Big Mac hamburger sold in McDonald's restaurants worldwide.
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what is the average tax rate for an individual with taxable income of $135397? convert to a percent and round to two places past the decimal point.
The average tax rate for an individual with taxable income of $135,397 is 20.40%.
To calculate the average tax rate for an individual with taxable income of $135,397, we need to use the tax brackets and rates for the relevant tax year. I'll assume we are using the 2021 tax year for this example.
For the 2021 tax year, the tax brackets and rates for single filers are as follows:
10% on taxable income up to $9,950
12% on taxable income over $9,950 up to $40,525
22% on taxable income over $40,525 up to $86,375
24% on taxable income over $86,375 up to $164,925
32% on taxable income over $164,925 up to $209,425
35% on taxable income over $209,425 up to $523,600
37% on taxable income over $523,600
To calculate the average tax rate, we need to determine the total tax liability and divide it by the taxable income. Using the tax brackets and rates above, we can calculate the total tax liability as follows:
10% on the first $9,950 = $995
12% on the amount over $9,950 up to $40,525 = $3,573.40
22% on the amount over $40,525 up to $86,375 = $13,996.50
24% on the amount over $86,375 up to $135,397 = $9,059.68
Total tax liability = $27,624.58
Therefore, the average tax rate for an individual with taxable income of $135,397 is:
Average tax rate=Total tax liability/Taxable income
Average tax rate= $27,624.58/$135,397
Average tax rate = 0.204 (rounded to three decimal places)
Converting to a percentage and rounding to two decimal places, the average tax rate is 20.40%.
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The moral principles and standards that guide behavior in the world of business are known as:
The moral principles and standards that guide behaviour in the world of business are known as Business Ethics.
Business ethics likewise alluded to as corporate morals, is a subset of applied morals or expert morals that looks at moral and moral standards as well as expected moral situations in the business world. It is appropriate to both the way of behaving of explicit people and whole associations, and it covers all features of business lead.
These ethical standards come from individuals, official proclamations made by associations, or the overall set of laws. The core values of a business are these traditions, values, moral norms, and untrustworthy ways of behaving.
The field is both a corporate system and a speciality for professions.
Present-day hierarchical principles, values, and standards that guide an individual's activities and conduct inside a business association are alluded to as business morals.
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Which one of the following is not involved in the two basic pleadings of a lawsuit? a complaint a default judgment an answer
A default judgment is not involved in the two basic pleadings of a lawsuit. So, the correct option is B.
In a lawsuit, the two basic pleadings are the complaint and the answer.
A complaint is a legal document filed by the plaintiff, which initiates a lawsuit by setting forth the allegations against the defendant. It outlines the plaintiff's claims and the legal theories supporting those claims.
An answer is a legal document filed by the defendant in response to the complaint. It admits or denies the allegations in the complaint and may also assert any legal defenses that the defendant may have.
A default judgment, on the other hand, is a judgment entered by a court against a party who has failed to plead or defend against a claim brought by another party. It is not a pleading, but rather a consequence of a party's failure to take action in the lawsuit.
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Complete question is:
Which one of the following is not involved in the two basic pleadings of a lawsuit?
A) a complaint
B) a default judgment
C) an answer
how and why does a firm's average-total-cost curve differ in the short run compared with the long run? g
A company can alter the short-term fixed production factors in the long run.
What are some instances of labor as a production factor?Labor is the effort that people put into producing goods and services. Examples of labor resources include the work done by the waiter who brings your food to a nearby restaurant and the engineer who designed the school bus. It includes a painting by the artist as well as the pilot's work flying the aircraft above.
Land is any natural resource utilized in the production of goods and services; everything produced on land. Common land or natural resources include coal, water, oil, copper, natural gas, and forests.
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a basic rule in capital budgeting is that if a project's npv exceeds its irr, then the project should be accepted. group of answer choices true false
False. A basic rule in capital budgeting is that if a project's NPV exceeds/crosses its IRR, then the project should be accepted is incorrect.
A capital budget is how a trading company evaluates the performance of a critical task or investment. Construction of a new facility or large funding for an outdoor business are examples of initiatives that should be capital budgeted before being approved or rejected.
Capital budgeting mainly refers to the decision-making method related to funding long-term initiatives. An example of this is a capital budget system run by an employer to decide whether to keep existing equipment or buy new equipment in place of old equipment.
The technique of capital budgeting is also known as funding estimation.
The most important thing in capital budgeting is the accuracy of the forecasted coin flow. The whole investment is regular and easy. However, considering all cash flow resources would be exhaustive.
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Complete question:
A basic rule in capital budgeting is that if a project's NPV exceeds its IRR, then the project should be accepted. True/ False.
Does the recognition of an expense does not depend on the payment of cash?
The claim is accurate. When an expense is incurred, not when it is paid in cash, it is recorded.
What kinds of expenses come to mind?A few examples of expenses are rent, utilities, pay, salaries, upkeep, depreciation, insurance, or the cost of items supplied.
How would you define expenses?The money you must spend to pay for the goods and services you consume or purchase is referred to as an expense. Two categories of expenses exist: Your needs are met by essential costs like your mortgage or rent, electricity, groceries, etc. Discretionary spending pay for your desires, such as eating out, seeing movies, and taking trips.
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chelsea technology maintains its records using cash-basis accounting. consider the following: during the year, the company received cash from customers, $49,000, and paid cash for salaries, $26,500. at the beginning of the year, customers owe chelsea $1,000. by the end of the year, customers owe $7,800. at the beginning of the year, chelsea owes salaries of $6,800. at the end of the year, chelsea owes salaries of $3,900. determine cash-basis net income and accrual-basis net income for the year.
The cash-basis net income for the year is $22,500, and the accrual-basis net income for the year is $32,200.
Cash-basis accounting recognizes revenue and expenses when cash is received or paid, while accrual-basis accounting recognizes revenue and expenses when they are earned or incurred, regardless of when cash is received or paid.
Using the information given, we can calculate the cash-basis net income as follows:
Cash receipts from customers = $49,000
Cash payments for salaries = $26,500
Cash-basis net income = Cash receipts - Cash payments
Cash-basis net income = $49,000 - $26,500
Cash-basis net income = $22,500
To calculate the accrual-basis net income, we need to adjust the cash-basis net income for the changes in accounts receivable and accounts payable. The change in accounts receivable represents the revenue earned but not yet received in cash, while the change in accounts payable represents the expenses incurred but not yet paid in cash.
Change in accounts receivable = Ending accounts receivable - Beginning accounts receivable
Change in accounts receivable = $7,800 - $1,000
Change in accounts receivable = $6,800
Change in accounts payable = Ending accounts payable - Beginning accounts payable
Change in accounts payable = $3,900 - $6,800
Change in accounts payable = -$2,900 (a negative value indicates a decrease in accounts payable)
Accrual-basis net income = Cash-basis net income + Change in accounts receivable - Change in accounts payable
Accrual-basis net income = $22,500 + $6,800 - (-$2,900)
Accrual-basis net income = $22,500 + $6,800 + $2,900
Accrual-basis net income = $32,200
Therefore, the cash-basis net income for the year is $22,500, and the accrual-basis net income for the year is $32,200.
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What is an insurer required to do when faced with an error made under the Misstatement of Age provision?
Cancel the policy
Pay age-corrected benefits
Pay full benefits as stated in the policy
Bill the policyowner for back premiums
When an insurer is faced with an error made under the Misstatement of Age provision, they are required to pay age-corrected benefits.
This means that the insurer will adjust the benefits to reflect the correct age of the insured. If the insured is actually older than stated on the policy, the benefits will be reduced to reflect the higher risk associated with an older age. If the insured is actually younger than stated on the policy, the benefits will be increased to reflect the lower risk associated with a younger age.
The insurer may also bill the policy owner for back premiums if the correct age would have resulted in a higher premium. However, the insurer cannot cancel the policy or pay full benefits as stated in the policy if there is a misstatement of age.
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hat company sells two types of hats: knit hats with a selling price of $15 and variable costs of $5, and hard hats with a selling price of $25 and variable costs of $10. knit hats comprise 80% of all sales. if fixed costs are $22,000, what is the break even point in units?
As per the requirement, the break-even points in units will be -
Number of knit hats = 2000 x 0.8 = 1600
Number of hard hats = 2000 x 0.2 = 400
To find the breakeven point in units, we need to know how many units the company needs to sell to cover all of its fixed and variable costs.
Let's start by calculating the contribution margin for each type of hat. The contribution margin is the difference between the selling price and the variable cost of a product.
Total contribution margin per unit = Weighted average contribution margin per unit = ($10 x 0.8) + ($15 x 0.2) = $11
Breakeven point (in units) = Fixed costs / Contribution margin per unit = $22,000 / $11 = 2000 units
To calculate how many knit hats and hard hats need to be sold, we need to use the sales mix. Since knit hats represent 80% of sales, we can calculate the number of knit hats by multiplying the total number of units by 0.8, and the number of hard hats by multiplying the total number of units by 0.2. This gives:
Number of knit hats = 2000 x 0.8 = 1600
Number of hard hats = 2000 x 0.2 = 400
Therefore, the company needs to sell 1600 knit hats and 400 hard hats to break even.
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The core competencies of a business are generated by the interaction of:________
The core competencies of a business are generated by the interaction of resources and capabilities.
What are a business's fundamental competencies?The distinctive goods, services, abilities, and skills that offer a company an edge over rivals are referred to as core competencies. In other words, a company's core capabilities are advantages over rivals that they cannot realistically match or offer.
What does marketing's core competency entail?Core competencies are the assets, goods, abilities, and skills that provide a company an edge over its rivals. A core competency is usually something that is challenging to imitate, such as a distinctive product or a distinctive brand voice.
Core competency analysis: what is it?The process of determining a company's essential strengths and characteristics that set it apart from its rivals, as well as how to leverage these core competencies to create lasting competitive advantage, is known as core competency analysis.
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the cost constraint means that an item is not recognized in the financial statements unless its omission would significantly influence the judgment of an informed user. group of answer choices true
A. True. The statement "The cost constraint means that an item is not recognized in the financial statements unless its omission would significantly influence the judgment of an informed user" is true.
The cost constraint is a fundamental accounting principle that requires companies to only recognize and report information in their financial statements if the cost of doing so is justified by the benefit of the information to the users of the financial statements. This means that an item should only be recognized if its omission would significantly influence the judgment of an informed user, and if the cost of obtaining and reporting the information is reasonable and justifiable.
Therefore, the statement "The cost constraint means that an item is not recognized in the financial statements unless its omission would significantly influence the judgment of an informed user" is true.
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The cost constraint means that an item is not recognized in the financial statements unless its omission would significantly influence the judgment of an informed user.
A. True
B. False
The two most important inventory-based questions answered by the typical inventory model are.
A. when to place an order and what is the cost of the order
B. when to place an order and how many of an item to order
C. how many of an item to order and what is the cost of this order
D. how many of an item to order and with whom the order should be placed
The usual inventory provides answers to the two key inventory-based issues of how many of an item to order and how much this order will cost.
What does the phrase "inventory" mean, exactly?
Inventory refers to all the goods, supplies, and items that a business keeps on hand in anticipation of reselling them to clients for a profit. If the vendor distributes newspapers to customers using a vehicle, only the newspaper will be treated as inventory in this situation. The way the car is handled will be viewed as a plus. Although there are many different types of inventory, the four most common ones are finished goods, work-in-progress inventory, raw materials, and component inventory.
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other things equal, if consumers believe that gas prices will rise in a week, the demand for gas today will . multiple choice question. increase not change be lower than next week decrease
All other things being equal, demand for gas today will (A) increase if individuals believe that gas prices will rise in a week.
What is demand?The quantity of a good that consumers are willing and able to buy at different prices during a specific time is known as demand in economics.
The demand curve is another name for the relationship between price and quantity demand.
Demand for a given product depends on a variety of factors, including perceived need, price, perceived quality, convenience, alternatives offered, buyer preferences, and disposable money.
For instance, the first slice of pizza that a customer purchases when they are hungry will be the one with the most utility.
If people anticipate that gas prices will increase in a week, demand for gas today will rise, all else being equal.
Therefore, all other things being equal, demand for gas today will (A) increase if individuals believe that gas prices will rise in a week.
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Complete question:
Other things equal, if consumers believe that gas prices will rise in a week, the demand for gas today will ____.
multiple choice question.
A. increase
B. not change
C. be lower than next week's
D. decrease
which of the following was not a destabilizing factor immediately following the end of the war? group of answer choices a flu pandemic a women's liberation movement high inflation and economic uncertainty political paranoia
Option b is the correct solution to this question. A women's liberation movement was not a destabilizing factor immediately following the end of the war.
The women's liberation movement was a political alliance of feminist intellectualism and women that began in the late 1960s and persisted into the 1980s, mainly in industrialized Western countries, and which brought about significant change in many parts of the world. Learn out how the Women's Liberation Movement campaigned for women's rights to equal pay, training opportunities, inclusion in religious organizations, and acknowledgement of their labor.
When a French philosopher named Simone de Beauvoir, then in her thirties, started to write about what it meant to be a woman, the revolution quietly started in 1946.
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Once a company has identified its competitive advantages and chosen the ones that define its market niche, what is its next step?
answer choices
communicating and delivering its positioning strategy
confirming its understanding of the market dynamics
defining its positioning strategy
Once a company has identified its competitive advantages and chosen the ones that define its market niche, its next step is to "define its positioning strategy."
What is positioning strategy?
Positioning strategy involves creating a distinctive image and perception of the company in the minds of its target customers, relative to its competitors.
This involves identifying the key benefits that the company offers to its customers, developing a unique value proposition, and communicating it effectively to the target audience.
To define its positioning strategy, the company needs to consider various factors, such as its target customer segments, their needs and preferences, the competitive landscape, and market trends. Based on this analysis, the company can identify the most effective positioning strategy that differentiates it from competitors and resonates with its target audience.
Once the positioning strategy is defined, the company needs to communicate it effectively to its target customers through various marketing and communication channels. This involves developing a strong brand identity, creating compelling marketing messages, and delivering a consistent customer experience that reinforces the positioning strategy.
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the required rate of return to implement a proposed project will be if interest rates are . a. lower; lower b. lower; higher c. higher; unchanged d. higher; lower
c. higher; unchanged. The needed rate of return to carry out a given project is higher; unaltered The needed rate of return is the minimal rate of return that an investor.
should expect from a project. It is the opportunity cost of investing in one project over another with comparable risk. If interest rates rise, the needed rate of return to undertake a planned project rises as well. This is due to the increased opportunity cost of investing in the project, since investors can earn a larger return elsewhere. In contrast, if interest rates fall, the needed rate of return to undertake a planned project falls. This is due to the fact that the opportunity cost of investing in the project has increased decreased, as investors are less likely to earn a higher return elsewhere. However, the required rate of return can also be influenced by other factors, such as the riskiness of the project, the company's cost of capital, and market conditions.
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if there are only two airlines that fly between dallas and new orleans, what will happen in the market for one airline if the other one goes out of business? multiple choice there will be a movement to the left along the initial demand curve. there will be a movement to the right along the initial demand curve. the demand curve will shift to the right. the demand curve will shift to the left.
Still, the demand wind will move to the right, If the contending business fails. The relationship between the cost of an item or service and the volume demanded over a specific time period is represented graphically by the demand wind.
A common representation places the needed volume on the vertical axis and the price on the left perpendicular axis. The ensuing graph illustrates the popular belief that demand angles pitch over. This happens as a result of the law of demand, which states that as prices rise for utmost effects, demand diminishments. In some peculiar circumstances, this rule doesn't apply. To determine the link between price and volume, demand angles are utilised. The law of demand, which stipulates that the force and
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an economy experiencing falling demand, employment, and income is in which stage of the business cycle?
An economy experiencing falling demand, employment, and income is in the contraction phase of the business cycle.
What is contraction phase?
The contraction phase, also known as the contractionary phase or downturn, is a stage of the business cycle in which the economy experiences a decline in economic activity.
This phase is characterized by falling levels of output, employment, and income, often accompanied by rising levels of unemployment, decreased consumer spending, and declining business profits.
It is typically marked by a decrease in consumer and business confidence, a slowdown in production, and a reduction in economic growth. The contraction phase is followed by the trough or bottom of the cycle before entering the expansion phase.
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a company's hiring strategy: group of answer choices directly affects employee productivity. has little effect on employee productivity. does not relate to profitability. upgrades an employee's skill level. is not part of the company's overall human resource strategy.
A company's hiring strategy directly affects employee productivity. Thus, option (A) is correct.
What is strategy?An organization's long-term objectives and the plan it has to achieve them are referred to as its strategy. In other words, it demonstrates the strategy for achieving the stated goal. The specific steps taken to accomplish the objectives in accordance with the strategy are referred to as a tactic.
A recruiting plan of action is a plan of action to help you with success identify, attract and hire the best leaders for your open roles. These are basic playing points that can help you recruit the jobseekers
Therefore, The right option (A) is correct.
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the aqua liquid assets money market mutual fund has a nav of $1 per share. during the year, the assets held by this fund appreciated by .8 percent. if you had invested $35,000 in this fund at the start of the year, how many shares would you own at the end of the year? what will the nav of this fund be at the end of the year?
A money market fund is a specific class of fixed income mutual fund that has very strict standards for maturity, credit quality, diversification, and liquidity in order to assist it meet its objectives of principal preservation and daily access for investments.
Money market funds strive to maintain a constant net asset value (NAV) per share, which is typically $1 in the United States. The $1 is preserved by declaring daily dividend investments to shareholders in an amount equal to the fund's net income.
Money market funds are typically regarded as one of the investments with the highest level of stability since they have minimal volatility and are less susceptible to changes in the market.
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Transcribed image text: Question 1 0.6 pts The best measure of long-run economic growth adjusts nominal GDP for inflation and population. nominal GDP for inflation. nominal GDP for population. real GDP for the base year.
The best measure of long-run economic growth is real GDP for the base year.Although there are other ways to gauge economic expansion, the gross domestic product is the most well-known and often monitored and reported indicator (GDP).
Compared to gross national product (GNP), which is primarily used to comprehend the total income of a country's citizens within a specific time period, gross domestic product (GDP) is a more relevant indicator of the economy.
The Consumer Price Index (CPI), which gauges pricing power and inflation, and the Monthly Unemployment Report, which includes weekly non-farm payrolls, are two of the other key indicators of economic growth in addition to GDP.
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c. how big is the surplus or shortage at $3.40? there is a (click to select) of thousand bushels. how big is the surplus or shortage at $4.90? there is a (click to select) of thousand bushels. how big a surplus or shortage results if the price is 60 cents higher than the equilibrium price? there is a (click to select) of thousand bushels how big a surplus or shortage results if the price is 30 cents lower than the equilibrium price? there is a (click to select) of thousand bushels
13000 bushels of wheat are in low supply, and they are worth $3.40 each. There are 21,000 bushels of wheat in the surplus, valued at $4.90. The surplus is 14000 bushels of wheat at a price 60 cents over the equilibrium price.
What price does a bushel have neither a scarcity nor a surplus?When the quantity provided (Qs) is exactly equal to the quantity requested (Qi), there is no shortage or surplus in the market, and an equilibrium price occurs.
How are shortages determined?figuring out the shortage. This formula can be used to determine the shortfall. Make the price ceiling price equal to the supply equation and the demand equation, respectively, and solve for Qd and Qs. When we deduct Qs from Qi, 4.75 units are missing.
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The account used to summarize the owner's equity in a business is called capital.True or False
The account balance is the difference between an account's increases and decreases. A capital account is a type of account used to list a business owner's equity.
For owner's equity, which account is used?The capital account for the owner or the partners in a partnership or sole proprietorship on the balance sheet represents the value of equity. The owner or partners' withdrawals from the business during that accounting period are also shown on the balance sheet.
Owner's equity—is it a capital asset?Because owner's equity is technically an asset of the business owner and not the actual business. The company's assets are valuable possessions. Owner's equity is more of a risk to the company.
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David and karen decide to purchase a $500,000 policy on david and a $500,000 policy on karen. How much would these policies cost if they were $0. 80 per $1,000 of coverage for tina and $0. 75 per $1,000 for david?
The cost of the policies for David and Karen can be calculated by multiplying the amount of coverage by the cost per $1,000 of coverage.
For David's policy, the cost would be:First, we calculate the cost of David's policy. Divide the coverage amount by $1,000 to get the $1,000 coverage number. For David, this number is 500.
$500,000 / $1,000 = 500
Then, we multiply the number of $1,000 of coverage by the cost per $1,000 of coverage. For David, this figure is $0.75 per $1,000. Therefore, the cost of David's policy is:
500 x $0.75 = $375
For Karen's policy, the cost would be:Now, we calculate the cost of Karen's policy. Divide the coverage amount by $1,000 to get the $1,000 coverage number. For Karen, this number is 500.
$500,000 / $1,000 = 500
Then, we multiply the number of $1,000 of coverage by the cost per $1,000 of coverage. For Karen, this figure is $0.80 per $1,000. Therefore, the cost of Karen's policy is:
500 x $0.80 = $400
Finally, we add up the individual costs of the two policies to get the total cost. The total cost of the policies for David and Karen.
Therefore, the total cost of the policies for David and Karen would be:
$375 + $400 = $775
So, the total cost of the policies for David and Karen is $775.
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in defining a problem, it is important to develop specific measures of success because these ultimately lead to blank______.
Answer:
Explanation:
In defining a problem, it is important to develop specific measures of success because these ultimately lead to clearer objectives. With specific and measurable objectives, you have a better understanding of what you are trying to achieve, and you can determine if you have been successful in solving the problem. This makes it easier to focus your efforts, make informed decisions, and track progress over time. By having well-defined success measures, you can ensure that you are working towards a well-defined goal, and you can evaluate the effectiveness of your solutions.
how will an increase in state subsidies to public colleges affect the market for public and private colleges? a. in the market for public colleges: multiple choice 1 supply will shift to the left. demand will shift to the right. supply will shift to the right. demand will shift to the left.
Supply will shift to the right. demand will shift to the left an increase in state subsidies to public colleges affect the market for public and private colleges.
What results in a particular good or service when the price of that good or service changes?Although a change in a good or service's price frequently results in a shift in the quantity supplied or along the supply curve for that particular good or service, it does not change the shape of the supply curve.
A subsidy will cause the supply curve to skew to the right, bringing down the market's equilibrium price. The subsidy's purpose is to promote the production of the good, and it has the effect of reversing the supply curve (shifting it vertically downwards by the amount of the subsidy).
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Merrick Company computes a predetermined overhead rate at the beginning of the year and uses it to apply overhead to jobs throughout the year. Merrick has several custom jobs in process. One of these jobs, C628, was in Work in Process Inventory at the beginning of month. Job C628 had direct materials of $6,200, direct labor of $8,680, and overhead of $17,360. If Merrick applies overhead based on direct labor cost, what is Merrick’s predetermined overhead rate for the year?
A) 50%
B) 200%
C) 140%
D) 280%
The predetermined overhead rate for the year is 50%.
What is overhead rate?The overhead rate is the proportion of a company's overhead, like as its rent and other administrative costs, to its direct costs, sales, or other inputs, like the number of hours a machine works. It gives business owners and managers a comparison of indirect expenses to, say, their direct production costs or total sales. The overhead rate is calculated by multiplying the indirect costs by the direct costs by 100. If your overhead rate is 20%, it indicates your company spends 20% of its income on the creation of goods or the rendering of services. A reduced overhead rate means greater productivity and earnings.
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what does business growth rate refer to, as used in the bcg matrix? multiple choice question. the growth of a firm's competition a firm's forecasted sales the speed of industry growth the rate of hiring within an industry
The market rate of growth is calculated by deducting last year's industry sales from this year's industry sales.
What is the BCG matrix growth rate?
Based on the idea that market leadership produces consistently higher returns, the BCG growth-share matrix was created. In the end, the market leader achieves a self-perpetuating cost advantage that is challenging for rivals to match.
A product's overall market share is represented by the x-axis of the graph or matrix, while the y-axis shows the rate of market growth.
Therefore, The markets with the highest potential for growth are then identified by these high growth rates.
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Rising prices signal consumers to purchase less and producers to supply more. Falling prices signal consumers to purchase more and producers to supply less. Prices will stop rising or falling when they reach the new equilibrium price: the price at which the quantity consumers demand matches the quantity that producers supply. “Gasoline Price Changes: The Dynamic of Supply, Demand, and Competition” Federal Trade Commission, 2005 Based on the text, what is the relationship between supply, demand, and equilibrium price? Group of answer choices Equilibrium price is the average of supply and demand prices. Equilibrium price is achieved when supply matches demand. Equilibrium price is determined when a majority of suppliers lowers prices to increase demand. Equilibrium price is determined when a majority of consumers pays a higher price.
Equilibrium price is achieved when supply matches demand.
What is the Equilibrium ?Equilibrium is a state of balance between different forces, where opposing forces are equal to each other and there is no unbalanced force in a system. It is a principle of nature which states that in a closed system, whether physical, chemical or biological, the forces of the system must be equal and opposite. This is important in understanding how systems interact with each other, and how they can remain in balance in order to maintain their stability. Equilibrium is a universal principle that exists in all systems and is essential for them to maintain their stability.
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when the floor rusted through on her old car, kelly knew she had a problem. logically, kelly's next step in the consumer decision process would be to
Option B. search for information. Logically, Kelly's next step search for information.
The consumer decision process is the decision-making process that consumers use in relation to market transactions before, during and after purchasing goods or services.
When there are several options, this can be considered a special form of cost-benefit analysis.
Common examples are shopping and dining choices. Decision-making is a psychological component. This means that we cannot "see" the decision, but we can conclude that the decision was made from the observable behavior.
Therefore, we conclude that a psychological "decision-making" event has occurred. It is an interpretation that implies a duty to act. That is, we assume that people commit to perform actions based on observable.
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Complete question:
When the floor rusted through on her old car, Kelly knew she had a problem. Logically, Kelly's next step
in the consumer decision process would be to
A. identify her need.
B. search for information.
C. evaluate alternatives.
D. purchase a new car.
E. assess her satisfaction with the car she purchased.
