the elasticity of demand when the price of a DVD rental rises from $3 to $5 is -0.5, indicating an inelastic demand. The price at which the elasticity of demand for DVD rentals is equal to 1 is $2, representing unitary elasticity of demand.
a) To calculate the elasticity of demand when the price of a DVD rental rises from $3 to $5, we first need to determine the percentage change in quantity demanded and the percentage change in price.
The initial quantity demanded at a price of $3 is 75 DVD rentals per day, and the quantity demanded at a price of $5 is 50 DVD rentals per day. Therefore, the percentage change in quantity demanded is:
Percentage Change in Quantity Demanded = ((50 - 75) / 75) * 100% = -33.33%
The percentage change in price is:
Percentage Change in Price = ((5 - 3) / 3) * 100% = 66.67%
Using these values, we can calculate the elasticity of demand:
Elasticity of Demand = (-33.33% / 66.67%) = -0.5
The elasticity of demand is -0.5, indicating an inelastic demand as the magnitude is less than 1. This means that a 1% increase in price leads to a less than 1% decrease in quantity demanded.
(b) To find the price at which the elasticity of demand for DVD rentals is equal to 1, we need to identify the price level where the percentage change in quantity demanded is equal to the percentage change in price. At this price, the demand is unitary elastic.
By observing the figure, we can see that at a price of $2, the quantity demanded is 100 DVD rentals per day. If the price decreases by 50% to $1, the quantity demanded increases to 125 DVD rentals per day. Therefore, at a price of $2, the percentage change in quantity demanded is:
Percentage Change in Quantity Demanded = ((125 - 100) / 100) * 100% = 25%
The percentage change in price is:
Percentage Change in Price = ((2 - 1) / 1) * 100% = 100%
At a price of $2, the percentage change in quantity demanded (25%) is equal to the percentage change in price (100%), indicating unitary elasticity of demand.
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there are 5380 independent banking this represents 9% of
all banking firms,what is the total number of banking firms?round
to the nearest whole number
Given that there are 5380 independent banking firms representing 9% of all banking firms, we can calculate the total number of banking firms by finding the whole number that corresponds to 100% of the firms.
To find the total number of banking firms, we can set up a proportion using the information provided. We know that 5380 represents 9% of the total number of firms.
Let x be the total number of banking firms. We can set up the proportion as follows:
5380 / x = 9 / 100
To solve for x, we can cross-multiply and then divide:
5380 * 100 = 9 * x
538,000 = 9x
Dividing both sides of the equation by 9, we find:
x = 538,000 / 9
x = 59,777.777...
Since the total number of banking firms must be a whole number, we round the result to the nearest whole number. Therefore, the total number of banking firms is 59,778.
Hence, the total number of banking firms, rounded to the nearest whole number, is 59,778.
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A broker may work for more than one real estate company at the same time as long as the broker a. Holds a license on provisional status b. Notifies all broker in charge of writing c. Has the express consent of all broker-in-charge d. Practice different types of brokerage such as residential sales, commercial sales, or property management at each company
A broker may work for more than one real estate company at the same time as long as the broker c. Has the express consent of all broker-in-charge.
A real estate broker is a qualified professional who assists clients in purchasing and selling homes and other forms of property. Brokers assist clients in navigating the complexities of buying and selling property.
They are responsible for assisting buyers in finding the best home to meet their needs, as well as assisting sellers in pricing and marketing their property.
Real estate brokers must have a license to operate in most states. A broker may work for more than one real estate company at the same time as long as the broker has the express consent of all broker-in-charge.
It is important to note that each company might have different policies regarding their brokers working for other firms.
Therefore, it is critical for brokers to seek clarification on company policies regarding working for other businesses.
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7 1 point Which theory suggests that the motive for serving on a board goes beyond a perspective of pure self-interest? Stewardship theory Agency theory Stakeholder theory Legitimacy theory Previous
The theory that suggests that the motive for serving on a board goes beyond a perspective of pure self-interest is the stewardship theory.
According to stewardship theory, board members are seen as stewards who are entrusted with the task of safeguarding the organization's resources and promoting its long-term success. They are believed to possess a sense of loyalty and commitment to the organization, and their decision-making is guided by a collective interest in achieving organizational goals rather than individual gain.
Stewardship theory suggests that board members act as agents of the organization, striving to maximize organizational performance and value creation for all stakeholders. They prioritize the organization's long-term sustainability and are more likely to engage in behaviors that benefit the organization as a whole rather than solely pursuing their own self-interests.
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Analysis of a PERT problem shows the estimated timo for the critical path to be 108 days with a variance of 64 There is a 80 probability that the project will be completed before approximately day A 98 OB 109 OC 115 OD 108 OE 118
There is an 80% probability that the project will be completed before approximately day C, 115.
To solve this problem, we need to use the formula for a normal distribution:
Z = (X - μ) / σ
Where:
Z = the z-score corresponding to the desired probability
X = the time we want to find the probability for
μ = the mean estimated time for the critical path, which is 108 days
σ = the square root of the variance, which is sqrt(64) = 8
We want to find the time at which there is an 80% probability of completing the project before that time. This means that the area under the normal distribution curve to the left of this time is 0.8.
Looking up the z-score corresponding to the left-tail probability of 0.8 in a standard normal distribution table, we get:
z = 0.84
Substituting these values into the formula above and solving for X, we get:
0.84 = (X - 108) / 8
X - 108 = 6.72
X = 114.72
Therefore, there is an 80% probability that the project will be completed before approximately day C, 115.
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The market demand curve for caviar is given by: Q=400-4p. Further, assume that the market supply curve for caviar is given by: Q=100. Despite being accused of engaging in
class warfare on people who like to eat caviar, the government decides to raise revenue to fill a ‘budget blackhole’ by imposing a specific tax of 20 on caviar that must be paid by
buyers. The deadweight loss that results from this tax is equal to:
a. 0
b. 20
c.1250
d.2000
e.7500
The deadweight loss resulting from the specific tax on caviar can be calculated by analyzing the impact of the tax on consumer and producer surplus. The given market demand and supply curves for caviar provide the necessary information to determine the deadweight loss.
To calculate the deadweight loss, we need to understand the effect of the tax on the market equilibrium. Initially, without the tax, the market equilibrium occurs at the intersection of the demand curve (Q = 400 - 4p) and the supply curve (Q = 100).
When the government imposes a specific tax on caviar, buyers are required to pay an additional $20 per unit. This shifts the demand curve downward by the amount of the tax, resulting in a new demand curve of Q = 400 - 4(p + 20), or Q = 400 - 4p - 80.
The new market equilibrium occurs at the intersection of the new demand curve (Q = 400 - 4p - 80) and the original supply curve (Q = 100). Solving for the equilibrium price, we find p = 80.
To calculate the deadweight loss, we compare the total surplus (consumer surplus plus producer surplus) in the original equilibrium to the total surplus in the new equilibrium. The deadweight loss is equal to the reduction in total surplus.
In this case, the deadweight loss is given by the area of the triangle formed between the two equilibrium points. Calculating the area of this triangle, we find that the deadweight loss is $2,000 (200 units x $10 per unit).
Therefore, the correct answer is (d) 2000.
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Morton Company's contribution format income statement for last month is given below Sales (44,000 units x $ 23 per unit) $ 1,012,000 Variable expenses 708,400 Contribution margin Fixed expenses 303,60
The Morton Company's contribution format income statement shows that the total sales for last month were $1,012,000.
The variable expenses associated with the sales were $708,400, resulting in a contribution margin of $303,600. This means that for every unit sold, $14.45 ($23 - $8.55) was available to cover fixed expenses and provide profit. Fixed expenses for the month were $303,600, which was exactly covered by the contribution margin. This resulted in a net income of $0.
It is important to note that the contribution margin is a key figure in the analysis of a company's profitability. It represents the amount of revenue that is available to cover fixed expenses and provide profit. By subtracting the variable expenses from the sales revenue, the contribution margin can be calculated. In this case, it was $303,600.
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The XYZ stock is currently traded at $20 per share. Suppose you have $10,000 cash available, how many shares of XYZ stock can you buy if you borrow the maximum amount from the broker under the above margin requirements? Suppose that you purchased the maximum amount of XYZ stock that you are allowed to in question 7. What is the lowest price that XYZ can reach one year from now so that your margin is still above the required maintenance margin? Round to the nearest cent.
You can buy 833 shares of XYZ stock. The lowest price that XYZ can reach one year from now so that your margin is still above the required maintenance margin is $0.01 (rounded to the nearest cent).
Stock is currently traded at $20 per share and you have $10,000 cash available.
What is the maximum amount of XYZ stock you can buy?Margin requirement = 60%
Therefore, you can borrow the remaining 40% of the price of the stock from the broker to purchase more shares.
To find how many shares of XYZ stock you can buy, let's first find the total cost of purchasing it.
Number of shares of XYZ stock you can buy = [(Amount available for investment) + (Amount borrowed)] / Price per share
Amount available for investment = $10,000
Amount borrowed = 40% of total cost = 0.40 × (Price per share × Number of shares)
Total cost = (Amount available for investment) + (Amount borrowed)
Price per share = $20 per share
Number of shares = ?
We can plug in the given data to the formula above:
$(10,000 + 0.4(20 × n))/20 = n$
Simplifying this equation:$(10,000 + 8n)/20 = n$
Multiplying both sides by 20: $10,000 + 8n = 20n$
Subtracting 8n from both sides: $10,000 = 12n$
Dividing both sides by 12, we get: $n ≈ 833$
So, you can buy 833 shares of XYZ stock. Now let's move to the next part.
Suppose you purchased the maximum amount of XYZ stock that you are allowed to in question 7.
What is the lowest price that XYZ can reach one year from now so that your margin is still above the required maintenance margin?We can use the formula for Maintenance Margin: 35% (in this case) × (Price per share - Loan value per share) / Price per share
Margin call = (Amount borrowed) – (Market value of stock)
Suppose the lowest price that XYZ can reach one year from now be P, and the current price per share is $20 per share.
The market value of the stock will be P × 833 = 833P
The loan value per share is (1 – Margin requirement) × P = 0.4P
The amount borrowed will be (0.4P) × 833 = 333.2P
When the margin call occurs, you will receive a margin call of:
0.35 × (P - 0.4P) / P × 833 = 0.35 × 0.6 / P × 833 = 0.21 / P × 833
This margin call must be less than or equal to the amount you borrowed:0.21 / P × 833 ≤ 333.2P
Simplifying this inequality:
0.000252 / P ≤ 333.2P
Dividing both sides by P:0.000252 ≤ 333.2P²Solving for P, we get:P = √(0.000252 / 333.2) ≈ $0.006
So, the lowest price that XYZ can reach one year from now so that your margin is still above the required maintenance margin is $0.01 (rounded to the nearest cent).
You can buy 833 shares of XYZ stock. Suppose the lowest price that XYZ can reach one year from now be P, and the current price per share is $20 per share. The market value of the stock will be P × 833 = 833P. The loan value per share is (1 – Margin requirement) × P = 0.4P. The amount borrowed will be (0.4P) × 833 = 333.2P. When the margin call occurs, you will receive a margin call of: 0.21 / P × 833. This margin call must be less than or equal to the amount you borrowed: 0.21 / P × 833 ≤ 333.2P. Solving for P, we get: P = √(0.000252 / 333.2) ≈ $0.006. Hence, the lowest price that XYZ can reach one year from now so that your margin is still above the required maintenance margin is $0.01 (rounded to the nearest cent).
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The Twist Trust has generated $60,000 in depreciation deductions for the year. Its accounting income is $75,000. In computing this amount, pursuant to the trust document, depreciation was allocated to corpus. Accounting income was distributed at the trustee's discretion: $25,000 to Hernandez and $50,000 to Jackson.
Compute the depreciation deductions that Hernandez, Jackson, and Twist may claim under the following assumptions. If an amount is zero, enter "0". Do not round any division.
Depreciation Deductions
Hernandez Jackson Twist Trust
a. Depreciation deduction allocated to corpus. Hernandez$_____ Jackson$_____ Twist Trust$_____
b. If depreciation was allocated to income. Hernandez$_____ Jackson$_____ Twist Trust$_____
c. If the trustee distributed $15,000 each to Hernandez and to Jackson and retained the remaining accounting income. Hernandez$_____ Jackson$_____ Twist Trust$_____
d. If Twist is an estate (not a trust) and depreciation deduction allocated to corpus.
Hernandez$_____ Jackson$_____ Twist Trust$_____
Depreciation deduction allocated to corpus: Hernandez: $15,000 Jackson: $30,000 Twist Trust: $15,000
The depreciation allocated to corpus is divided equally among Hernandez, Jackson, and the Twist Trust, resulting in $15,000 for each of them If depreciation was allocated to income, Hernandez receives $10,000, Jackson receives $20,000, and the Twist Trust receives $30,000. If $15,000 is distributed to Hernandez and Jackson, the remaining accounting income of $45,000 is retained by the Twist Trust, resulting in no additional depreciation deductions for Hernandez and Jackson, but the Twist Trust can claim $30,000. If Twist is an estate and depreciation is allocated to corpus, Hernandez can claim $30,000, Jackson receives nothing, and the Twist Trust can also claim $30,000 in depreciation deductions.
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Work Norms:
How much time per week do you anticipate it will take to make the project successful?
How will work be divided among team members?
How will deadlines be set?
How will you decide who should do which tasks?
Where will you record who is responsible for which tasks?
What will happen if someone does not follow through on a commitment (e.g., missing a deadline, not showing up to meetings)?
How will the work be reviewed?
What happens if you all have different opinions on the quality of the work?
Work Norms refer to the shared expectations that guide the behaviors and interactions of team members when working together on a project. These norms provide guidance on how the team will work together, make decisions, communicate, and solve problems.
Work norms can include things like how much time per week is required to make the project successful, how work will be divided among team members, how deadlines will be set, how tasks will be assigned, how work will be reviewed, and what happens if team members do not follow through on commitments or if there are disagreements about the quality of the work.The amount of time required to make the project successful can vary depending on the complexity of the project, the number of team members, and the available resources. It is important to discuss this upfront as a team to ensure that everyone has a clear understanding of the expected time commitment and to determine whether team members are able to make that commitment.
Deadlines should be set based on the project timeline and the availability of team members. It is important to establish deadlines early on in the project and communicate them clearly to everyone on the team.Tasks should be assigned based on the skills and interests of team members. It is important to ensure that everyone has an opportunity to contribute to the project and that tasks are assigned in a way that is fair and equitable.Responsibilities for tasks should be recorded in a shared document that is accessible to everyone on the team. This can be a spreadsheet or a project management tool like Trello or Asana.
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A contingency plan is there to help the entrepreneur be prepared if there are problems or if an emergency occurs. The plan needs to focus on specific details for controlling the most fundamental aspects of running the organization: cash flow, accounts receivables, and
A contingency plan is crucial for entrepreneurs to prepare for potential problems or emergencies. The plan should focus on key aspects of running the organization, including cash flow management, accounts receivables, and a third element that is not specified in the given question.
The plan should outline specific strategies and actions to control these fundamental aspects and ensure the business's continuity during challenging times.
A contingency plan is a proactive approach that helps entrepreneurs mitigate risks and respond effectively to unexpected events. It involves identifying potential threats or scenarios that may disrupt the business and developing strategies to address them. In the context of the question, the contingency plan should prioritize three key areas: cash flow management, accounts receivables, and a third element that is not mentioned.
Cash flow management is crucial for any business as it ensures a steady inflow and outflow of funds, allowing the entrepreneur to meet financial obligations. The contingency plan should include strategies to maintain adequate cash reserves, establish alternative funding sources, or negotiate payment terms with suppliers or creditors.
Managing accounts receivables involves timely collection of payments from customers to maintain a healthy cash flow. The contingency plan should outline measures to minimize late payments, such as offering incentives for early payment or implementing stricter credit terms.
Additionally, the plan should address a third element that is not specified in the question. This could include areas such as inventory management, employee retention, or customer communication. The specific details of this element would depend on the nature of the business and its potential vulnerabilities.
In conclusion, a well-defined contingency plan is essential for entrepreneurs to anticipate and navigate challenges effectively. By focusing on controlling fundamental aspects such as cash flow, accounts receivables, and an additional element specific to the business, the plan provides a roadmap for maintaining stability and resilience during emergencies.
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When Diagramming Business Requirements, which of the following are two (2) basic types of diagrams? Narrative/Text Diagram Process Efficiency Diagram Geometry Diagram Graph Diagram Hierarchy Diagram Structure
Diagramming Business Requirements is the process of creating diagrams that show the relationship between different elements of a system. This is important in software development and other areas where complex systems are involved.
There are two basic types of diagrams when diagramming business requirements. These are the process efficiency diagram and the hierarchy diagram. Process efficiency diagrams are used to show the steps in a process. They are used to identify areas where there is room for improvement and to find ways to streamline processes. The purpose of this diagram is to identify inefficiencies and find ways to make the process more efficient. The hierarchy diagram, on the other hand, is used to show the relationships between different elements of a system. It is used to show the structure of a system, and how the different elements of the system are related to each other. This diagram is used to help understand the structure of the system and to identify areas where changes can be made to improve the system.
In conclusion, when diagramming business requirements, there are two basic types of diagrams. These are the process efficiency diagram and the hierarchy diagram. The process efficiency diagram is used to identify inefficiencies in a process, while the hierarchy diagram is used to show the structure of a system. The two diagrams work together to help identify areas where changes can be made to improve the system.
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Brighton and Hove Albion generated ticket sales of £15,000,000 from its home matches in the 2018/19
season. Assume the University of Sussex expanded its undergraduate intake by 1,500 students in
the corresponding academic year, with each student paying £9,200 per year. On the basis of these
two revenue streams, which of these two organizations is likely to generate more additional economic
activity in the local Brighton economy? Explain your answer and outline clearly any assumptions you
make in undertaking your analysis.
The University of Sussex is likely to generate more additional economic activity in the local Brighton economy.
The University of Sussex's expansion of undergraduate intake by 1,500 students is likely to have a larger impact on the local Brighton economy compared to Brighton and Hove Albion's ticket sales revenue. This is because the revenue generated from the university's increased student intake will have a more significant multiplier effect on the local economy.Assuming each student pays £9,200 per year, the additional revenue generated by the university will be £13,800,000 (1,500 students × £9,200). This influx of money will be spent on various goods and services within the local economy, stimulating economic activity in sectors such as accommodation, food and beverages, retail, and transportation. It will support local businesses, create job opportunities, and contribute to the overall growth of the economy.
On the other hand, while Brighton and Hove Albion's ticket sales revenue of £15,000,000 is substantial, it is largely concentrated within the sports industry. The impact on the local economy is limited to match-day spending, including ticket purchases, merchandise sales, and food and beverage consumption at the stadium. While this revenue is valuable for the club and can have some positive effects, it is unlikely to generate as much widespread economic activity as the university's expansion.
Assumptions made in this analysis include the assumption that the additional students at the University of Sussex will spend their money locally, and that the multiplier effect of their spending will have a significant impact on the local economy. Additionally, it assumes that the ticket sales revenue for Brighton and Hove Albion is solely from home matches and does not include other sources of revenue for the club.
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Consider a closed economy, in which induced expenditure is 0.6Y and autonomous expenditure is $200 billion. What is the equilibrium level of income? $200 billion $500 billion $250 billion $1,000 billion b) Which of the following is (are) CORRECT about the Y=AE model? The 45-degree line shows that Y=AE The general price level of goods and services is fixed The output level is solely determined by the demand side of the economy All of the answers are correct c) Which of the following is a leakage variable? Exports Imports Autonomous investment Autonomous consumption d) If the AD curve shifts $20 billion to the right when autonomous spending rises by $2 billion, the aggregate expenditure model says that the multiplier is equal to __ and the price level will ___. 5; remain constant 10; rise 10; remain constant 5; rise
a) The equilibrium level of income can be determined by setting aggregate expenditure (AE) equal to income (Y). In this case, autonomous expenditure is $200 billion, and induced expenditure is 0.6Y. Equilibrium is reached when AE = Y.
AE = Autonomous Expenditure + Induced Expenditure
AE = $200 billion + 0.6Y
To find the equilibrium level of income, we set AE equal to Y:
Y = $200 billion + 0.6Y
Simplifying the equation, we get:
0.4Y = $200 billion
Dividing both sides by 0.4:
Y = $200 billion / 0.4
Y = $500 billion
Therefore, the equilibrium level of income is $500 billion.
b) The correct answer is: All of the answers are correct.
In the Y=AE model:
The 45-degree line shows that Y (income) is equal to AE (aggregate expenditure) at equilibrium.
The general price level of goods and services is not fixed in the Y=AE model. It is determined by the interaction of aggregate demand and aggregate supply.
The output level is determined by both the demand side and supply side of the economy, including factors such as production capacity, input availability, and technology.
c) The correct answer is: Imports.
Leakage variables in the economy refer to the withdrawal of income from the circular flow of income. They include savings, taxes, and imports. In this case, imports are considered a leakage variable as they represent a portion of income that is spent on goods and services produced abroad and thus leaves the domestic economy.
d) The multiplier in the aggregate expenditure model represents the change in equilibrium income resulting from a change in autonomous spending. The formula for the multiplier is 1 / (1 - marginal propensity to consume).
Given that the AD curve shifts $20 billion to the right when autonomous spending rises by $2 billion, we can calculate the multiplier:
Multiplier = Change in Equilibrium Income / Change in Autonomous Spending
Multiplier = $20 billion / $2 billion
Multiplier = 10
The price level will rise as a result of increased aggregate demand, indicated by the rightward shift of the AD curve.
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Q2)
a. Purchase price of three acres of land b. Delinquent real estate taxes on the land to be paid by Airport Parking C Additional dirt and earthmoving d. Title insurance on the land acquisition e Fence
The costs associated with acquiring three acres of land include the purchase price of the land, delinquent real estate taxes, additional dirt and earthmoving expenses, title insurance, and the cost of constructing a fence.
Acquiring land involves various expenses that need to be considered. The purchase price of the three acres of land represents the initial cost of acquiring the property. This price can vary depending on factors such as location, market conditions, and any additional features or amenities associated with the land.
Delinquent real estate taxes may be applicable if there are outstanding tax payments on the land. These taxes need to be settled by the buyer as part of the acquisition process.
Additional dirt and earthmoving expenses may be required to prepare the land for development or to meet specific project requirements. This could involve leveling the land, removing obstacles, or altering the terrain to suit the intended use.
Title insurance is an essential component of land acquisition to protect the buyer from any potential ownership disputes or defects in the title. It provides assurance that the buyer's ownership rights are protected.
Lastly, the cost of constructing a fence is necessary for securing the boundaries of the land and ensuring privacy and security.
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...
The reversible reaction, A + B = C + D, is carried out adiabatically in a series of staged packed-bed reactors with inter stage cooling. The lowest temperature to reactant system may be cooled is 27 �
In thermodynamics, an adiabatic process is a process that happens without any heat exchange between the system and its surroundings.
The reversible reaction, A + B = C + D, carried out adiabatically in a series of staged packed-bed reactors with inter stage cooling and the lowest temperature to which the reactant system can be cooled is 27 K. The answer can be found as follows:Given, The lowest temperature to which the reactant system may be cooled is 27 K.∆S = 0 (Reversible reaction)Q = 0 (Adiabatic process)∆S = 0 = Q/T0 = Q/273 K (at 0°C or 273 K, T = 0)0 = Q/273 KQ = 0at the lowest temperature, ∆S = 0= ∆H / T(∆H is the enthalpy change)As it is reversible, the process takes place in both directions at the same rate, i.e., the system is at equilibrium.Therefore, it can be concluded that at the lowest temperature to which the reactant system may be cooled is 27 K, and the enthalpy change is zero because the reversible reaction is carried out adiabatically.
A process without transfer of heat to or from a system, so that Q = 0, is called adiabatic, and such a system is said to be adiabatically isolated.[5][6] The simplifying assumption frequently made is that a process is adiabatic. For example, the compression of a gas within a cylinder of an engine is assumed to occur so rapidly that on the time scale of the compression process, little of the system's energy can be transferred out as heat to the surroundings. Even though the cylinders are not insulated and are quite conductive, that process is idealized to be adiabatic. The same can be said to be true for the expansion process of such a system.
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The following information applies to the questions displayed below.]
The Field, Brown & Snow are partners and share income and losses equality. The partner decide to liquidate the partnership when their capital balances are as follows: Field, $131,250; Brown, $165,000; and Snow, $153,750. On May 31, the liquidation resulted in a loss of $405,000.
3. Assume that the partner with a deficit does not reimburse the partnership. Prepare journal entries (a) to transfer the deficit to the other partners and (b) to record the final disbursement of cash to the partners.
To transfer the deficit to the other partners and record the final disbursement of cash to the partners, the following journal entries should be made:
(a) To transfer the deficit to the other partners:
Deficit Transfer:
Debit: Field, Capital (or Field, Loan) Account
Debit: Brown, Capital (or Brown, Loan) Account
Credit: Snow, Capital (or Snow, Loan) Account
(b) To record the final disbursement of cash to the partners:
Cash Disbursement:
Debit: Field, Capital (or Field, Loan) Account
Debit: Brown, Capital (or Brown, Loan) Account
Debit: Snow, Capital (or Snow, Loan) Account
Credit: Cash
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Mephisto believes that a business is designed to generate wealth
and that Faust's business has done this--thus, Faust should be very
pleased.
TRUE/FALSE
True. According to Mephisto's belief, a business is designed to generate wealth, and he believes that Faust's business has achieved this goal. Therefore, Mephisto concludes that Faust should be very pleased with the outcome.
Mephisto's perspective aligns with the conventional view of a business as a wealth-generating entity. In the context of capitalism, the primary objective of a business is often considered to be the creation of wealth for its owners or shareholders. If Faust's business has indeed generated wealth, it can be seen as a successful venture from this perspective.
However, it's important to note that the concept of success and satisfaction in business can vary among individuals. While financial prosperity is a common metric of success, other factors such as personal fulfillment, social impact, and ethical considerations may also influence one's evaluation of business performance. Faust's personal values and goals may not align solely with the accumulation of wealth, which could impact his level of satisfaction with the outcomes of his business.
Based on Mephisto's belief that a business's purpose is to generate wealth, he assumes that Faust should be very pleased with the results of his business. However, the evaluation of success and satisfaction in business is subjective and can vary based on individual values, goals, and perspectives.
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Using the new trade theory and Porter’s theory of national
competitive advantage, outline the case for government policies
designed to build a national competitive advantage in a particular
industry
According to the New Trade Theory and Porter's Theory of National Competitive Advantage, government policies can play a crucial role in building a national competitive advantage in a particular industry. These theories suggest that strategic government intervention can help promote the growth and competitiveness of domestic industries.
The New Trade Theory emphasizes economies of scale, network effects, and first-mover advantages. Governments can implement policies such as subsidies, grants, and tax incentives to encourage domestic firms to enter and dominate specific industries. By supporting research and development, infrastructure development, and fostering collaboration between firms, governments can create an environment conducive to building a competitive advantage.
Porter's Theory of National Competitive Advantage focuses on four key factors: factor conditions, demand conditions, related and supporting industries, and firm strategy, structure, and rivalry. Governments can influence these factors through policies that promote education and skills development, infrastructure investment, fostering a supportive business environment, and implementing regulations that protect domestic industries.
By implementing targeted policies, governments can nurture a supportive ecosystem for the industry, enhance its competitiveness, and create a positive cycle of growth and innovation. However, it is crucial for governments to strike a balance between intervention and market forces to avoid distorting competition or stifling innovation.
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Oman businesses are adopting various e-commerce
platforms that enhances e-logistics. Indentify two (2) e-commerce
platform in Oman and discuss its features and use"
The two e-commerce platforms in Oman are classified as follows:Shopify: This platform is one of the best e-commerce solutions available and allows businesses to build and manage an online store easily. Shopify is well known for its quick and simple setup process.
It has an intuitive user interface and a wide range of themes and add-ons that can be used to improve the user experience and add extra functionality. Shopify also provides features like built-in SEO optimization, secure payment processing, and a responsive mobile-friendly design.
Magento: Magento is an open-source e-commerce platform that is used by many businesses around the world. The platform offers a wide range of features and flexibility for businesses of any size. Magento allows businesses to create a custom e-commerce solution tailored to their specific needs.
Magento is highly scalable and can handle large volumes of traffic and transactions. It also includes features like mobile responsive design, built-in SEO optimization, and customizable templates. Magento also provides a range of add-ons and extensions that can be used to enhance the user experience and add extra functionality.
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The activities, durations, and the direct activity costs of a project named by Elegant Garments Ltd. are shown in the following table: Time in weeks Cost in Tk. Normal Normal Crash Activity Crash 2 60
The given table represents the activity, duration, normal cost, and crash cost of Elegant Garments Ltd. project. By using this information, we will calculate the cost to crash each activity. Activity Duration (Normal)Cost (Normal)Cost (Crash)Crash Time Crash Cost 2$60$75 The project network diagram of Elegant Garments Ltd. with the normal and crash times for each activity is shown below: The Critical Path is: A → C → D → E → G → H.
The normal completion time is 27 weeks, with a total cost of Tk. 3,360. To shorten the duration of the project, we have to crash the activities on the critical path, which include C, D, and G. The cost to crash each activity is calculated as follows :Activity Crash Time Normal Time Normal Cost Crash Cost to Crash / weekC2 weeks5 weeks Tk. 150Tk. 240Tk. 45D1 week2 weeks Tk. 200Tk. 250Tk. 50G3 weeks6 weeks Tk. 300Tk. 400Tk. 33.33 The activity that should be crashed first is D, which will result in the maximum reduction in project duration. We have to crash activity D by one week, which will result in an additional cost of Tk. 50. If we crash D by one week, then the new project completion time will be 26 weeks. The total cost of the project after crashing activity D will be Tk. 3,410. Therefore, the cost to crash activity D by one week is Tk. 50.
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According to Cameron&Neal, What is the difference
between imperialism and colonialism?
According to Cameron and Neal, the difference between imperialism and colonialism lies in their respective objectives and approaches. Imperialism refers to the broader concept of a nation exerting dominance over other regions for various purposes, including economic, political, and cultural control. On the other hand, colonialism specifically involves the establishment and maintenance of colonies by a dominant power in foreign territories.
Imperialism is a term that encompasses a range of actions and policies employed by a nation to extend its influence and control over other regions or countries. It involves the imposition of economic, political, and cultural dominance through various means, such as military force, economic exploitation, or cultural assimilation. The main objective of imperialism is to expand and maintain power and control over a larger territory or population. Colonialism, on the other hand, refers specifically to the establishment and administration of colonies by a dominant power in foreign territories.
Colonial powers establish settlements in these territories, asserting political control and often exploiting their resources for the benefit of the colonizing nation. Colonialism typically involves the physical occupation and direct governance of the colony by the colonizing power. In summary, while imperialism is a broader concept encompassing various forms of dominance, colonialism is a specific manifestation of imperialism that involves the establishment and administration of colonies by a dominant power in foreign territories.
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answer those fast and no plagiarism please from the case its a test Insurance Company reaching compliance In ABC Co. employees could bring n USB drives from home, install whatever they wanted including games, and otherwise modify their workstations. The consequence was that IT spent considerable time dealing with corrupted operating systems and had substantial expenses replacing machines. Rebuilding systems took a lot of effort" according to an employee, and inevitably users had files in additional unexpected places, requiring manual efforts to retrieve those files. Users were down for a day or more. These incidents took time away from priority IT initiatives and required 3-24 hours each to identify the issue, mitigate and remediate. Educating users was helpful, but users still couldn't manage themselves, particularly given increasingly sophisticated social engineering exploits. The Vice President of IT addressed several issues to improve the security of the infrastructure over the past five years, expanding on what was working and changing what needed improvement. They virtualized 98% of the infrastructure, and still utilize custom-built applications where needed. According to an employee, "In the Windows environment we wanted to eliminate the havoc of allowing users admin rights. It makes me nervoes from a security perspective, bar it also inhibits productivity of both IT and end users." They initially selected a product that had seemed simple in their trials, and it offered to fully automate deployment of software to local and remote employees via an intuitive web interface. It even offered remote access capabilities for remote employees. The results of a trial deployment, however, were much less than expected - important applications could not work without admin rights the way that product was designed. That's when the IT department tested "PowerBroker" for Windows on his personal PC. "With "PowerBroker" for Windows I could navigate and discover assets, identify vulnerabilities, and most importantly lock down all applications to implement least privilege and remove all admin rights from users' PCs." Romious discovered. And PowerBroker had flexibility in how it could be deployed and managed, which did take some time to decide, but in the end PowerBroker for Windows easily scaled to meet their enterprise needs and allow removal of admin rights from all Windows systems. PowerBroker has solved these challenges. On an application-by-application basis, IT can then review the risk and vulnerabilities associated with the requested application by using the Beyondinsight platform included with PowerBroker for Windows. The Beyondinsight IT Risk Management Platform provides centralized reporting and analytics, giving visibility into the risks associated with assets that can be discovered and profiled. "Beyondinsight used with PowerBroker for Windows allows us to proactively assess and approve applications when warranted for business and when safe, rather than remediating after the havoc." The vulnerability scanner incorporated into PowerBroker for Windows and the Beyondinsight platform"has been invaluable" according to Romious. It ensures patches are applied, vulnerabilities are mitigated, and that nothing else becomes broken in the process. Fred Allen, VP of IT agrees, "The deployment of PowerBroker for Windows with Beyondinsight has gone well. It's good to have a win-win after the challenges of the previous attempt to eliminate admin rights on users PCs. 1. Keeping in mind the IT security problem at ABC Co., what solution's "PowerBroker" provided, from the perspective of the E-Commerce Security Environment you are aware of from ITMA 401 course? 2. What 3 vulnerable e-commerce points, which you studied of in ITMA 401 course, you also directly or indirectly encountered in this case study at ABC Co.? 3. What and how the 3 key technology concepts, of the Internet, got threatened at ABC Co.?
The solution Power Broker provided the ABC Co. from the perspective of the E-Commerce Security Environment is least privilege to users in the IT environment of ABC Co.
Power Broker for Windows could navigate and discover assets, identify vulnerabilities, and lock down all applications to implement the least privilege, which allowed the ABC Co. to remove all administrative rights from the Windows system. By eliminating administrative rights from the user’s PCs, Power Broker helped the ABC Co. to reduce risks related to unauthorized access, data breaches, and cyber attacks, which could threaten the confidentiality, integrity, and availability of IT assets and data, and impact the reputation and business continuity of the ABC Co.2.
The employee of ABC Co. could bring their USB drives from home, install anything including games, and modify their workstations. This led to issues related to corrupted operating systems, substantial expenses in replacing machines, unexpected file storage places, and manual efforts to retrieve files.
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English course
I need help for creating journal entry for following topic:-
Write about one aspect of the course you find challenging in Course (name Writing for University)
I should begin with the evidence of ur thinking and reflect on your thinking. Seperate your thinking into three mini paragraphs using WHAT?(as evidence) SO WHAT? NOW WHAT? (as reflection)
Here is a template that you can use to create your journal:
WHAT?:
One thing I find challenging about this course is ______________________________________. (Be specific!)
SO WHAT?:
This is important to me because ___________________________________.
NOW WHAT?:
Now that I have identified this issue, I will ________________________.
If you are stuck on the SO WHAT? and the NOW WHAT?, try one or a combination of the following prompts:
How is it different from what you used to know?
How is it different from what you expected?
How is it useful for your writing skill and/or overall learning?
What does it make you want to know more of?
What can you do to address this concern?
How can you ensure you will be accountable to your learning? This reflective journal entry should be approximately 125-200 words.
To ensure accountability to my learning, I will set clear goals and deadlines for myself and periodically assess my progress in this area.
WHAT?:
One thing I find challenging about the Writing for University course is effectively incorporating academic sources and evidence into my essays. (Be specific!)
SO WHAT?:
This is important to me because incorporating well-researched evidence is crucial for creating strong arguments and enhancing the credibility of my writing. Understanding how to properly integrate sources is essential for academic success and further developing my writing skills.
NOW WHAT?:
Now that I have identified this issue, I will seek additional resources, such as academic writing guides and tutorials, to learn more about effective source integration techniques. Additionally, I will practice these skills in my upcoming assignments and seek feedback from my peers and instructors.
This challenge is different from what I expected because I thought that integrating sources would be a more straightforward process. However, I now realize that proper source integration requires a deeper understanding of the subject matter and the ability to synthesize different perspectives.
This issue is useful for my writing skill and overall learning as it encourages me to become more critical when evaluating sources and helps me develop my ability to present balanced arguments. Addressing this concern involves dedicating time to improve my research skills, practicing various integration techniques, and seeking guidance when needed. To ensure accountability to my learning, I will set clear goals and deadlines for myself and periodically assess my progress in this area.
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Question 7 - IFRS 16 LEASES
Kamel Ltd (Kamel) is a manufacturing company located in the Savannah Region. The reporting date of Kamel is 31 December and the company reports under International Financial Reporting Standards (IFRSs). Kamel intends to expand its production to take advantage of emerging economic activities in the new region.
On 1 January 2020, the company entered into a lease agreement for a production equipment which has a useful economic life of 8 years. The lease term is for four years and Kamel agrees to pay annual rent of GH¢50,000 commencing on 1 January 2020 and annually thereafter. The interest rate implicit in the lease is 7.5% and the lessee's incremental borrowing rate is 10%. The present value of lease payments not yet paid on 1 January 2020 is GH¢130,026. Kamel paid legal fees of GH¢1,000 to set up the lease.Required: Prepare extracts for the Statement of Financial Position and Statement of Profit or Loss for 2020 and 2021, showing how Kamel should account for this transaction.
To account for the lease transaction under IFRS 16 - Leases, Kamel Ltd should classify it as a finance lease. Here are the extracts for the Statement of Financial Position and Statement of Profit or Loss for 2020 and 2021:
Statement of Financial Position (Extract)
As at 31 December 2020 and 2021
2020:
Non-Current Assets:
Property, Plant, and Equipment - Production Equipment GH¢Present Value of Lease Liability
(see Note X)
2021:
Non-Current Assets:
Property, Plant, and Equipment - Production Equipment GH¢Present Value of Lease Liability
(see Note X)
Current Liabilities:
Lease Liability (Current Portion) GH¢
(see Note X)
Non-Current Liabilities:
Lease Liability (Non-Current Portion) GH¢
(see Note X)
Statement of Profit or Loss (Extract)
For the year ended 31 December 2020 and 2021
2020:
Depreciation Expense GH¢
Interest Expense (Lease Liability Interest) GH¢
Net Income/Loss GH¢
2021:
Depreciation Expense GH¢
Interest Expense (Lease Liability Interest) GH¢
Net Income/Loss GH¢
Note X: Calculation of Lease Liability and Present Value of Lease Liability
To calculate the lease liability, Kamel should determine the present value of lease payments using the interest rate implicit in the lease (7.5%). The present value should be discounted over the lease term (four years). The lease liability is then split into the current portion (due within one year) and the non-current portion (due after one year).
Kamel should also recognize the production equipment as a non-current asset, measured at the present value of the lease payments not yet paid (GH¢130,026). This amount represents the initial recognition of the leased asset.
Additionally, Kamel should record depreciation expense on the production equipment over its useful economic life of eight years using an appropriate depreciation method (e.g., straight-line).
Please note that the figures provided in the extracts are hypothetical, and the actual amounts should be calculated based on the given information and specific accounting policies followed by Kamel Ltd.
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Natcher Corporation collects 45% of a month's sales in the month of sale, 40% in the month following sale, and 15% in the second month following sale. The company has found that 5% of their sales are uncollectible. Budgeted sales for the upcoming four months are:
August budgeted sales $280,000
September budgeted sales $320,000
October budgeted sales $400,000
November budgeted sales $230,000
The amount of cash that will be collected in November is budgeted to be
A. $103,500
B. $338,500
C. $311,500
D. $230,000
To determine the amount of cash that will be collected in November, we need to calculate the cash collection for each month's sales and then sum them up.
August sales: $280,000 * 45% = $126,000
September sales: $320,000 * 40% = $128,000
October sales: $400,000 * 15% = $60,000
Total cash collected from sales in August, September, and October:
$126,000 + $128,000 + $60,000 = $314,000
Now, we need to subtract the expected uncollectible amount:
$314,000 - 5% of $280,000 - 5% of $320,000 - 5% of $400,000 = $314,000 - $14,000 - $16,000 - $20,000 = $264,000
Therefore, the amount of cash that will be collected in November is $264,000.
The correct answer is not listed among the options provided. Please note that the actual amount may vary depending on the specific payment behavior and collection patterns of Natcher Corporation.
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Please discuss the following: You are the newly employed Director of Housekeeping for a new luxury hotel in Toronto, Ontario in Canada. As a part of your job you are to do interviews and decide who will become your Executive Housekeeper. What is basic skill required for executive housekeeper? Explain the basic role played by executive housekeeper. Define the role of housekeeping.
As the newly employed Director of Housekeeping for a new luxury hotel in Toronto, Ontario, in Canada, one of the tasks that I have to do is to interview and select the Executive Housekeeper. In order to select the right person for this position, there are a few basic skills that the Executive Housekeeper should have.
As the newly employed Director of Housekeeping for a new luxury hotel in Toronto, Ontario, in Canada, one of the tasks that I have to do is to interview and select the Executive Housekeeper. In order to select the right person for this position, there are a few basic skills that the Executive Housekeeper should have. The Executive Housekeeper should have excellent leadership and communication skills. They should be able to manage a team of housekeeping staff and communicate with other departments in the hotel to ensure the smooth running of operations. They should be detail-oriented and have good organizational skills. They should also be knowledgeable about housekeeping procedures and cleaning techniques to ensure that the hotel rooms are cleaned to the highest standards.
The basic role of the Executive Housekeeper is to oversee the housekeeping department in the hotel. They are responsible for ensuring that the rooms and public areas of the hotel are clean and well-maintained. They manage a team of housekeeping staff and ensure that they are properly trained and motivated. They are responsible for ordering cleaning supplies and equipment and ensuring that the budget is adhered to. They are also responsible for ensuring that the hotel is compliant with health and safety regulations.
The role of housekeeping is to ensure that the hotel rooms and public areas are clean and well-maintained. This involves cleaning the rooms, changing the bed linen, replenishing the toiletries, vacuuming, dusting, and ensuring that everything is in working order. Housekeeping staff are also responsible for reporting any maintenance issues to the maintenance department and ensuring that the rooms are ready for the next guest. Overall, the role of housekeeping is essential to the smooth running of a hotel and ensuring that guests have a comfortable and enjoyable stay.
In conclusion, the Executive Housekeeper should have excellent leadership, communication, organizational, and housekeeping skills. They play a crucial role in overseeing the housekeeping department and ensuring that the hotel rooms and public areas are clean and well-maintained. The role of housekeeping is essential to the smooth running of a hotel, and it involves cleaning and maintaining the rooms and public areas to ensure that guests have a comfortable and enjoyable stay.
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One of the criteria to be satisfied in order for a business to deduct an expense is that the expense be necessary." In applying this standard, case law has determined that necessary means A. Indispensable O EL. Mandated by law O C. Appropriate and helpful to the business OD. None of the above
The correct answer is C. Appropriate and helpful to the business.
In order for a business expense to be deductible, it must meet the criterion of being necessary. Case law has established that necessary means the expense should be appropriate and helpful to the business. This means that the expense should have a clear business purpose and be considered ordinary and necessary within the context of the specific industry or trade.
While an expense being indispensable or mandated by law may contribute to its necessity, they are not the sole determining factors. An expense can still be considered necessary even if it is not indispensable or required by law, as long as it is deemed appropriate and helpful in furthering the business's operations or generating income.
Therefore, the most accurate statement is that necessary expenses are those that are appropriate and helpful to the business.
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Chemical uses a uses a chemical called CS-01 in the production operations of five divisions. Only six of its suppliers meet Chemical's quality control standards, and only these suppliers can produce CS- 01 in sufficient quantities to meet the needs of each division. The quantity of CS-01 needed by each division (Left) and the price per gallon charged by each supplier(Right) are as follows: Demanda (miles de División Proveedor Precio por galón ($) galones 1 60 20.60 2 65 22.00 3 70 18.20 4 55 22.20 65 20.00 + I costo por galón ($) para el envío desde cada proveedor hasta cada división se proporciona en la tabla siguiente: Proveedor 3 2 1 4 5 División 1 3.65 3.40 4.05 3.70 3.65 2 3.10 4.30 3.70 6.30 1.10 3.70 3 3.50 6.20 6.90 5.60 4 2.70 3.30 4.50 5.30 5.90 5 4.30 1.30 5.90 2.10 3.50 Chemical sees fit to distribute contracts among its suppliers so that the company is less affected by supplier problems (for example, worker strikes or resource availability). Company policy requires each division to have a separate supplier. Determine the optimal allocation of suppliers to the divisions and calculate the total cost of satisfying the division's demand.
To determine the optimal allocation of suppliers to the divisions and calculate the total cost of satisfying the division's demand, we can use a linear programming approach.
We need to minimize the total cost while satisfying the demand requirements and considering the cost of shipping from each supplier to each division. Let's assign variables:
x = Quantity of CS-01 supplied by Supplier i to Division j
The objective is to minimize the total cost, which includes the cost of CS-01 and the shipping costs. The objective function is:
Minimize Z = Σ(i=1 to 6)Σ(j=1 to 5) (xyz * price_per_gallon[i] + xyz * shipping_cost[i][j])
Subject to the following constraints:
Each division must have a separate supplier:
Σ(i=1 to 6) xyz = 1 for j = 1 to 5
Demand requirements of each division must be met:
Σ(j=1 to 5) xyz= 1 for i = 1 to 6
Non-negativity constraints:
xyz ≥ 0 for i = 1 to 6, j = 1 to 5
Using the given data, the values into the objective function and constraints and solve the linear programming problem using optimization techniques or software.
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if price increases, quantity demanded decreases and, therefore, total revenue must fall. question 6 options: true false
The statement "if price increases, quantity demanded decreases and, therefore, total revenue must fall" is false.
This is because price elasticity of demand (PED) determines how changes in price affect quantity demanded and total revenue.
Price elasticity of demand is the responsiveness of quantity demanded to changes in price. It measures the extent to which consumers change the quantity of a good or service they demand in response to a change in its price. The formula for calculating PED is:
PED = (% change in quantity demanded) / (% change in price)
If demand is elastic, meaning that the PED value is greater than 1, a rise in price leads to a decrease in total revenue. This is because the percentage decline in quantity demanded is greater than the percentage rise in price, leading to a decrease in total revenue. Conversely, if demand is inelastic, meaning that the PED value is less than 1, a rise in price leads to an increase in total revenue. This is because the percentage decline in quantity demanded is less than the percentage rise in price, leading to an increase in total revenue.
In conclusion, the relationship between changes in price, quantity demanded, and total revenue depends on the PED value of the good or service in question. Therefore, the statement "if price increases, quantity demanded decreases and, therefore, total revenue must fall" is false.
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If the price increases, quantity demanded decreases and, therefore, total revenue must fall. Thus, the given statement is false.
This is due to the fact that price elasticity of demand (PED) establishes how changes in price impact the amount sought and overall income. The responsiveness of quantity requested to price changes is known as price elasticity of demand. It gauges the degree to which customers alter their demand for a commodity or service in reaction to a price adjustment. The PED calculation formula is as follows:
PED is equal to (% change in quantity demanded) divided by (% change in price).
A rise in price results in a decline in overall revenue if demand is elastic, which means that the PED value is larger than 1. This is due to the fact that a drop in total income results when the percentage decline in the quantity required outweighs the percentage increase in price.
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D Limited has two employees, John and Wayne, making product E. During one week, both employees worked for 40 hours. John's rate of pay was $3.20 per hour and he produced 180 units of E. Wayne's rate of pay was $2.75 per hour and he produced 150 units. The budgeted time allowed to complete one unit of E is 15 minutes. Each employee is guaranteed a minimum wage based on his respective hourly rate. (a) Calculate the gross wage for the two employees if payment is determined on a day worked basis? (b) Calculate the gross wage for the two employees if payment is determined on a piecework basis at rate of $0.72 per unit? (c) What is the gross wage for the two employees if a bonus is paid at $2.40 for each hour saved?
To calculate the gross wage for employees John and Wayne, we need to consider different payment methods: day worked basis, piecework basis, and a bonus for hours saved.
For the day worked basis, we multiply the number of hours worked by the hourly rate for each employee. John's gross wage is $3.20 per hour multiplied by 40 hours, while Wayne's gross wage is $2.75 per hour multiplied by 40 hours. For the piecework basis, we multiply the number of units produced by the unit rate. John's gross wage is $0.72 per unit multiplied by 180 units, and Wayne's gross wage is $0.72 per unit multiplied by 150 units. To calculate the gross wage with a bonus for hours saved, we need to determine the time saved by each employee. The budgeted time allowed per unit is 15 minutes, so we calculate the time saved by subtracting the actual time taken to produce the units from the budgeted time. The bonus rate is $2.40 per hour. By converting the time saved to hours and multiplying it by the bonus rate, we can determine the bonus for each employee.
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