The ending balance in the salaries payable account can be calculated by considering the beginning balance, the accrued salary expense, and the amount of salaries paid during the month.
Starting with a beginning balance of $50,000, adding the accrued salary expense of $20,000, and subtracting the amount of salaries paid ($60,000), we can determine the ending balance in the salaries payable account.
Ending balance = Beginning balance + Accrued salary expense - Salaries paid
Ending balance = $50,000 + $20,000 - $60,000
By performing the calculation, the ending balance in the salaries payable account would be obtained.
Learn more about Ending balance here:
https://brainly.com/question/28580073
#SPJ11
You are the manager of a Zoo. The zoo is running short of funds,
so you decide to increase revenue. Should you increase or decrease
the price of admission for visitors? Explain in detail the steps
you
To increase revenue for the zoo, it would be advisable to consider increasing the price of admission for visitors.
Analyze demand elasticity: The first step is to assess the demand elasticity for zoo admission. If demand for zoo visits is relatively inelastic, meaning that a change in price has a relatively small impact on demand, increasing the price could lead to increased revenue without a significant decrease in visitors. On the other hand, if demand is highly elastic, a price increase may result in a substantial decrease in visitors, potentially leading to lower overall revenue.Study competitors: Research the prices charged by other zoos or similar attractions in the area. If the zoo's current admission price is significantly lower than that of competitors, there may be room to increase prices without deterring visitors. However, if the zoo's prices are already relatively high compared to competitors, raising prices further could make it less competitive and result in fewer visitors.Assess visitor demographics and preferences: Consider the demographics of the zoo's target audience and their willingness to pay. If the zoo primarily attracts visitors who value the experience and are willing to pay more for it, a price increase may be feasible. Conversely, if the zoo serves a price-sensitive audience, a price increase could lead to a significant drop in visitors.Evaluate cost structure: Examine the zoo's cost structure and determine if the current admission price covers operating expenses and allows for necessary investments in the zoo's infrastructure and conservation efforts. If the current price is insufficient to sustain the zoo's operations, a price increase may be necessary to ensure its long-term viability.Increasing the price of admission for visitors can be a strategy to boost revenue for the zoo. However, it is crucial to carefully analyze demand elasticity, competitor pricing, visitor demographics, and the zoo's cost structure before implementing a price increase. By taking these factors into account, the zoo can make an informed decision that balances revenue generation with visitor satisfaction and long-term sustainability.
To know more about revenue, visit :
https://brainly.com/question/28558536
#SPJ11
How did Russia emerge from the financial crisis of 1998 and what
is its current economic situation?
The financial crisis of 1998 severely impacted Russia's economy, but the country managed to emerge from the crisis through a combination of policy measures and external factors.
The crisis was triggered by a combination of factors, including a sharp decline in global oil prices, fiscal mismanagement, and a currency crisis. As a result, the Russian ruble depreciated significantly, leading to a default on government debt and a banking system collapse.
To stabilize the situation, Russia implemented several measures. The government devalued the ruble, which helped improve the competitiveness of Russian exports. It also introduced fiscal austerity measures, including cutting public spending and implementing structural reforms. Furthermore, Russia received financial assistance from international institutions such as the International Monetary Fund (IMF) and engaged in debt restructuring.
Russia's recovery was facilitated by a rebound in global oil prices, as the country is a major oil exporter. Rising oil prices helped boost government revenues and allowed for the accumulation of foreign exchange reserves. Additionally, the devaluation of the ruble made Russian goods more competitive in international markets, leading to increased exports.
In terms of the current economic situation, Russia has experienced mixed developments. The country has faced economic challenges due to factors such as economic sanctions imposed by Western countries following geopolitical tensions and fluctuations in global oil prices. However, Russia has made efforts to diversify its economy and reduce its dependence on oil. The government has implemented measures to stimulate innovation, support entrepreneurship, and attract foreign investment.
Despite the challenges, Russia has shown resilience and exhibited moderate economic growth in recent years. It has managed to maintain a stable macroeconomic environment, reduce inflation, and accumulate significant foreign exchange reserves. The country has also made progress in improving its business climate and attracting foreign direct investment in sectors such as technology, manufacturing, and infrastructure.
However, it is important to note that the economic situation can be influenced by various factors, and thus, it is recommended to consult up-to-date sources for the most accurate and comprehensive information on Russia's current economic status.
To learn more about International Monetary Fund visit:
brainly.com/question/30627656
#SPJ11
Homework 11 You are given the following model that describes the economy of Hypothetica. Consumption function: C = 100+ 0.8Yd Planned investment: 1 = $30 Government spending: G = $75 Exports: EX= $25 Imports: IM = 0.05Yd Disposable income: Y = Y-T Taxes: T = $40 Planned aggregate expenditure: AE =C+I+G+ EX - IM Definition of equilibrium income: Y = AE Equilibrium income in Hypothetica is $ (Enter) r your response as a whole number.)
The equilibrium income in Hypothetica is approximately $242 (rounded to the nearest whole number).
To find the equilibrium income in Hypothetica, we need to set the aggregate expenditure (AE) equal to the income (Y).
Given the following information:
Consumption function: C = 100 + 0.8Yd
Planned investment: I = $30
Government spending: G = $75
Exports: EX = $25
Imports: IM = 0.05Yd
Taxes: T = $40
We can express the aggregate expenditure as:
AE = C + I + G + EX - IM
Substituting the given values, we have:
AE = (100 + 0.8Yd) + 30 + 75 + 25 - 0.05Yd
Simplifying the equation:
AE = 230 + 0.75Yd - 0.05Yd
Since we are looking for equilibrium income, we set AE equal to Y:
Y = AE
Therefore, we have the equation:
Y = 230 + 0.75Yd - 0.05Yd
To find the equilibrium income, we solve for Y by isolating it on one side of the equation:
Y - 0.75Yd + 0.05Yd = 230
Combining like terms:
0.95Yd = 230
Dividing both sides by 0.95:
Yd = 230 / 0.95
Calculating the value:
Yd ≈ 242.11
Therefore, the equilibrium income in Hypothetica is approximately $242 (rounded to the nearest whole number).
Learn more about equilibrium here
https://brainly.com/question/13414142
#SPJ11
For each of the following pairs of goods, identify which one
you
would expect to have more own-price elastic demand.
Please
explain your reasoning.
(a) stereo headphones (generally) and hearing aids
In the given pair of goods, stereo headphones and hearing aids, I would expect stereo headphones to have more own-price elastic demand compared to hearing aids.
The own-price elasticity of demand measures the responsiveness of the quantity demanded to a change in price.
Stereo headphones are typically considered a discretionary or luxury item. They are commonly used for entertainment purposes such as listening to music or watching movies. Consumers have a wide range of s when it comes to stereo headphones, with varying features, brands, and price points. As a result, consumers tend to be more price-sensitive and responsive to changes in the price of stereo headphones. If the price of stereo headphones increases, consumers may choose to delay or forgo their purchase, switch to a lower-priced alternative, or seek discounts and promotions. Conversely, a decrease in price can stimulate demand and encourage more consumers to buy stereo headphones.
On the other hand, hearing aids serve a critical purpose for individuals with hearing impairments. They are often considered a necessity rather than a discretionary item. People with hearing loss rely on hearing aids to improve their quality of life and facilitate communication. Due to the essential nature of hearing aids, consumers are likely to be less sensitive to changes in their price. They may be willing to pay higher prices to obtain the necessary functionality and technology that meets their specific hearing needs.
In summary, stereo headphones are more likely to have own-price elastic demand due to their discretionary nature and the availability of substitutes in the market. In contrast, hearing aids are expected to have a relatively inelastic demand as they fulfill a crucial function for individuals with hearing impairments.
Learn more about technology here:
https://brainly.com/question/28288301
#SPJ11
(a) A molten drop of liquid metal which is spherical in shape with radius 2 mm solidifies in 10 sec. what is the solidification time of same molten drop with double radius? (b) Explain any two casting defects. [3+2=5]
This can result in a number of defects like microporosity, macro porosity, and shrinkage cavity.2. Porosity: This is caused by gas bubbles being trapped in the casting during the solidification process. This can result in a number of defects like gas porosity, pinholes, and blowholes.
a) The solidification time of the same molten drop with double radiusThe solidification time of the same molten drop with double the radius can be calculated using the Chvorinov's rule.The formula to calculate solidification time is given by: 1/t = k(V/A^2)nwhere t is the solidification time, V is the volume, A is the surface area, k is the solidification constant, and n is the exponent that depends on the shape of the casting. In this case, the molten drop is spherical in shape and hence the value of n is 2.t = (k x V) / A^2nFor the given drop with radius 2 mm and solidification time of 10 sec, we can calculate the solidification constant as follows: k = t x A^2n / Vk = 10 x (4πr^2)n / (4/3)πr^3where r is the radius of the spherek = (15r^2) / (2r^3)k = 7.5 / rk = 7.5 / 2k = 3.75/rPlugging in the value of r as 2 mm, we get:k = 3.75 / 0.002k = 1875Substituting these values in the formula for t, we get:t = (1875 x (4/3)πr^3) / 4πr^2 x 2t = 125r/3t = 125 x 2/3t = 83.33 secThus, the solidification time of the same molten drop with double radius is 83.33 sec.b) Two casting defects are as follows:1. Shrinkage defects: These are caused by the solidification of the metal resulting in a decrease in volume and hence causing the metal to shrink. This can result in a number of defects like microporosity, macro porosity, and shrinkage cavity.2. Porosity: This is caused by gas bubbles being trapped in the casting during the solidification process. This can result in a number of defects like gas porosity, pinholes, and blowholes.
To know more about trapped visit:
https://brainly.com/question/32568621
#SPJ11
Which of the following statements is the best example of inelastic demand?
a.)
Tom chose the less expensive Common Scents brand candles rather than Scentsational brand.
b.)
Tom bought banners sold in town before; they were high quality, so he buys them there again, despite an increase in price.
c.)
Tom followed the trend of others and purchased table cloths from an online website at a lower price.
d.)
Tom chose Pretty/Cheap disposable plates, which were $1 less than Notso Cheap brand.
The best example of inelastic demand among the given statements is Tom bought banners sold in town before; they were high quality, so he buys them there again, despite an increase in price. The correct answer is option b.
Inelastic demand refers to a situation where a change in price of a good or service has a relatively small effect on the quantity demanded by consumers. In this case, Tom's purchase of the high-quality banners despite an increase in price shows that he values the quality of the banners more than the increase in price. This means that even if the price of the banners increases, Tom is likely to continue purchasing them, as he has already established a preference for the quality of the product.
On the other hand, option a shows that Tom chose the less expensive Common Scents candles over Scentsational brand, indicating that he is sensitive to price changes and will switch to a cheaper alternative if available.
Option c shows that Tom followed a trend and purchased tablecloths from an online website at a lower price, indicating that the price was the deciding factor rather than the quality or brand.
Option d shows that Tom chose Pretty/Cheap disposable plates over Notso Cheap brand, but only because they were $1 less, indicating that he was price-sensitive.
In conclusion, option b is the best example of inelastic demand as Tom is willing to pay a higher price for a product he values more, indicating a relatively low sensitivity to price changes.
To know more about inelastic demand, visit https://brainly.com/question/1048608
#SPJ11
SECTION A Question 1. Danson a petty trader, does not see the need for keeping control accounts for debtors and creditors. As an Accountant, she has approached you for help a) Explain term control accounts (3 marks) b) List any three (3) Purposes for keeping Control Accounts (3marks) e) State any three (3) items each that you expect to see in a creditors' control account and a debters control account 16 marks) d) What is meant by set off in preparing control account? (4 marks) e) State any four advantages of preparing control account? (4 marks)
As an Accountant, she has approached you for help
a) Control accounts are summary accounts used to monitor and control individual debtor and creditor accounts. They provide a consolidated view of the total balances and activities related to debtors and creditors. Control accounts help ensure accuracy and facilitate efficient management of debtors and creditors. b) Purposes for keeping control accounts include monitoring and reconciling individual debtor and creditor balances, detecting errors and discrepancies, and facilitating efficient management of debtors and creditors through timely information. c) Creditors' control account: Total balances owed by each creditor, payments made to creditors, purchases or expenses related to creditors. Debtors' control account: Total balances owed by each debtor, payments received from debtors, sales or revenue generated from debtors. d) Set off in preparing a control account refers to offsetting the balances of individual debtor and creditor accounts against each other to determine the net balance in the control account. It helps reconcile and consolidate the individual account balances. e) Advantages of preparing control accounts include enhanced accuracy and completeness of debtor and creditor records, improved control and monitoring, easier identification and resolution of errors, streamlined reconciliation processes, and efficient financial reporting. Control accounts provide a centralized and organized approach to managing debtors and creditors.
learn more about Accountant here:
https://brainly.com/question/30977839
#SPJ11
the production planner for fine coffees inc how many ounces of each coffee blends should the company produce
A production planner for Fine Coffees Inc can follow to determine the number of ounces of each coffee blend that the company should produce.
Step 1: Gather information
The first step in determining the number of ounces of each coffee blend that Fine Coffees Inc should produce is to gather information. This information includes the following:
Sales forecast for each blend
Inventory levels
Raw materials availability
Production capacity
Step 2: Analyze information
The production planner should analyze the information that has been gathered to determine the number of ounces of each coffee blend that should be produced. The analysis should take into account the following factors:
Sales forecast
Inventory levels
Raw materials availability
Production capacity
Step 3: Determine production quantities
After analyzing the information, the production planner should determine the production quantities for each coffee blend. This should be done based on the sales forecast, inventory levels, raw materials availability, and production capacity.
Step 4: Monitor production quantities
The production planner should monitor the production quantities to ensure that they are in line with the sales forecast, inventory levels, raw materials availability, and production capacity. If there are any deviations, the production planner should take corrective action.
Learn more about production planner: https://brainly.com/question/32232169
#SPJ11
Proposing Market Entry and Exit Strategy
Please use Ikea and respond to the followings:
Identify and classify the markets in which the company competes.
Propose a market that the company should enter or exit (support your proposal with sound managerial economics).
They compete in various markets globally, targeting consumers looking for affordable, stylish, and functional furniture solutions.
Considering the company's core competencies and managerial economics, I would propose that Ikea should enter the market for smart home products and furniture. This market has been witnessing significant growth due to technological advancements and increased consumer interest in connected homes. By leveraging their expertise in furniture design and affordability, Ikea can offer smart furniture options that integrate seamlessly with smart home systems and devices. This expansion would allow Ikea to tap into a growing market segment.
On the other hand, Ikea should consider exiting the market for traditional DVDs and CDs. With the rise of digital streaming platforms and the declining demand for physical media, this market has been shrinking rapidly. Exiting this market would allow Ikea to reallocate resources to more promising areas of their business, where they can better utilize their strengths and adapt to changing consumer trends, ultimately maximizing profitability and growth potential.
Learn more about targeting consumers here
https://brainly.com/question/29786274
#SPJ11
TRUE / FALSE. "One of the major hurdles facing today’s executives and business
leaders is how to meaningfully differentiate themselves from
everyone else who’s operating in the same space.
Select one:
True
False"
The statement "One of the major hurdles facing today’s executives and business leaders is how to meaningfully differentiate themselves from everyone else who’s operating in the same space." is a TRUE statement.
The statement "One of the major hurdles facing today’s executives and business leaders is how to meaningfully differentiate themselves from everyone else who’s operating in the same space." is a TRUE statement. The present business environment is characterized by intense competition and saturated markets, making it difficult for executives and business leaders to differentiate themselves from everyone else who is operating in the same space. Executives are constantly faced with the challenge of creating and sustaining their competitive advantage in order to remain profitable. Competition in the business world is fierce, with a plethora of rivals vying for market share in the same market space, so it's critical that businesses differentiate themselves from their rivals. Branding, innovation, service, and product differentiation are some of the ways that businesses can differentiate themselves from their rivals. Businesses should provide excellent customer service, improve product quality, and offer new and innovative goods and services. However, differentiating oneself in today's competitive business world is a constant and continuous challenge, and executives must keep up with the latest business trends and cutting-edge innovations in order to stay ahead of their competitors.
To know more about business leaders visit: https://brainly.com/question/30321330
#SPJ11
Blackboard Ā Remaining Time: 1 hour, 57 minutes, 50 seconds. Question Completion Status: Question 2 30 points Save Answer You work for a large financial consultancy agency. Your new client, Ali Ahmed, would like you to assit him in understanding the position of one of his investments: Red Lion Corporation. Answer all parts of this questions. Part A: The following is an extract from the stockholder's equity section of Red Lion Corporation at the beginning of 2020: . Common stock ($0.50 par value): $76,000 . Capital surplus: $660,000 . Retained Earnings: $1,456,240 • Total owner's equity: $2,192,240 Required: A. If the company's stock currently sells for $40 per share and a 10 percent stock dividend is declared, how many new shares will be distributed? (1 mark) B. Calculate and show the stockholder's equity section at the end of 2020 after the stock dividend. (8 marks) C. Analyze the three conditions when a low dividend payout will be suitable for the firm. (6 marks) Part B: Red Lion Corporation has concluded a new contract with a Fench customer for the supply of products worth €15 million. Payment from the French customer will be made three months after each shipment. The company would like to understand the risk it is now exposed to with this new deal. Required: A. Explain the type of foreign exchange risk which KL is exposed to. (6 marks) B. Explain how the company could hedge its exposure using a forward contract. (6 marks)
Part A:
A. if a 10% stock dividend is declared, 10% of the 152,000 shares will be distributed.
B. Total owner's equity= $2,146,240
C. Need for Investment, Stability and Growth and Shareholder Base are three conditions when a low dividend payout will be suitable for the firm.
Part B:
A. This is the risk of loss when there is a foreign exchange rate fluctuation between the local currency and the foreign currency during the interval between when a company enters into a transaction and when it settles the transaction.
B. KL would enter into a forward contract for the euro amount that it would receive in 3 months with a bank. KL would exchange the euro from the bank at the forward rate, hence avoiding foreign exchange risk.
Part A:
A. If the company's stock currently sells for $40 per share and a 10 percent stock dividend is declared,
We have; Common stock= $76,000.Par value= $0.50 per share.
Number of shares of common stock= 76,000/0.50= 152,000 shares.
Now,
B. Calculate and show the stockholder's equity section at the end of 2020 after the stock dividend. (8 marks)We can calculate the new stockholder's equity using the following;
Common stock= 152,000+15,200
= 167,200 shares.($0.50 par value each)
Capital surplus= $660,000.
($76,000/152,000 = $0.50 per share)
($15,200/0.50= $30,400)
Retained earnings= $1,456,240.
Total owner's equity= $2,146,240.
C. Analyze the three conditions when a low dividend payout will be suitable for the firm.
i) Need for Investment- If the firm is planning on investing the funds for future growth, it will need to retain the earnings to finance the investments.
ii) Stability and Growth- If the company has a growing trend and is in a phase of expansion, it can retain the earnings to finance the growth.
iii) Shareholder Base- A firm with a broad shareholder base may need to retain earnings to cater to the shareholder preferences.
Part B:
A. Explain the type of foreign exchange risk which KL is exposed to.
KL is exposed to transaction risk. This is the risk of loss when there is a foreign exchange rate fluctuation between the local currency and the foreign currency during the interval between when a company enters into a transaction and when it settles the transaction.
B. Explain how the company could hedge its exposure using a forward contract.
KL could hedge its exposure using a forward contract, whereby a forward contract is an agreement between KL and a bank to exchange an agreed-upon amount of currency at a fixed rate of exchange on a future date. Thus, KL would enter into a forward contract for the euro amount that it would receive in 3 months with a bank. KL would exchange the euro from the bank at the forward rate, hence avoiding foreign exchange risk.
To know more stockholder's equity, visit:
https://brainly.com/question/13278063
#SPJ11
what is the value today of receiving $4,750 at the end of four years, assuming an interest rate of 6ompounded semiannually? (fv of $1, pv of $1, fva of $1, and pva of $1).
The required answer is FV of $1 = 1.59874, PVA of $1 = 0.79209, and $5,896.70 for the future value.
Given: The principal value of money, P= $4,750 Interest rate= 6%, compounded semiannually. Time period = 4 years. To find: The future value of money, FV of $1, PV of $1, FVA of $1, and PVA of $1 using the compound interest formula. Calculations: The formula to calculate future value of an amount is: FV = P(1 + r/n)nt Where, FV = Future value of an amount P = Principal amount r = Annual interest rate n = Number of times the interest is compounded t = Number of years. To find the future value of $1 for 8 periods, use the formula: FV of $1 = (1 + r/n)nt= (1 + 0.06/2)2×4= 1.06¹⁶FV of $1 = 1.06¹⁶ = 1.59874. The present value of $1 is given as: PVA of $1 = 1/(1 + r/n)nt= 1/(1 + 0.06/2)2×4= 0.79209FV = P(1 + r/n)nt FV = $4,750(1 + 0.06/2)2×4FV = $5,896.70. The value of receiving $4,750 at the end of four years, assuming an interest rate of 6% compounded semiannually is $5,896.70. Hence, the required answer is FV of $1 = 1.59874, PVA of $1 = 0.79209, and $5,896.70 for the future value.
To know more about Interest rate visit:
https://brainly.com/question/28272078
#SPJ11
If the Hungarian Method is used, the minimum of number of lines used to cover all the zeros after subtracting first all row and then all possible columns are? 1 2 3 4 38 48 50 54 60 60 C 56 94 90 D 42
minimum number of lines used to cover all the zeros after subtracting first all row and then all possible columns is either two rows or three columns.
The Hungarian Method is a popular algorithm used to solve the assignment problem in mathematics. In order to apply this method to the given problem, we first need to subtract the smallest value in each row from all the elements in that row.Similarly, we need to subtract the smallest value in each column from all the elements in that column. After this step, we need to draw lines through all the zeros in the resulting matrix.
Now, the minimum number of lines required to cover all the zeros is equal to the number of rows or columns in the matrix that have no lines passing through them. This is also known as the minimum number of rows or columns that need to be selected in order to obtain an optimal solution.
In the given problem, we have the following matrix after subtracting the smallest value in each row and each column:
38 48 50 54 60
60 0 56 94 90
0 42
As we can see, there are only two rows and three columns that have zeros in them. Therefore, we need to select a minimum of two rows or three columns in order to cover all the zeros and obtain an optimal solution using the Hungarian Method.
To know more about zeros visit:
brainly.com/question/28521612
#SPJ11
accounting for corporations
Part C-Retained Earnings Exercises Complete the requirements below using the space provided (5 Application Marks, 3 Thinking Marks, 3 Communication Marks) The following information is available for Ta
The retained earnings refer to the portion of the company's net income that has not been paid out as dividends to shareholders, it is recorded on the balance sheet as equity.
Retained earnings are a component of shareholder equity on a corporation's balance sheet. Retained earnings refer to the portion of the company's net income that has not been paid out as dividends to shareholders, and they are recorded on the balance sheet as equity. Retained earnings are reinvested back into the company and can be used for various purposes such as financing expansions, paying off debt, or investing in new projects. In order to calculate retained earnings, we need to start with the beginning balance of retained earnings, add net income, and subtract dividends paid to shareholders. If there are any adjustments, such as prior period adjustments, those should also be taken into account. Retained earnings are an important metric for investors as they indicate how profitable a company is and how effectively it is managing its finances. A company with consistently high retained earnings is viewed positively by investors and may experience an increase in its stock price as a result.
Learn more about shareholder equity here:
https://brainly.com/question/30778887
#SPJ11
The following report-reflects numerical data for Solar Corporation in August: Sales $33,000 Variable costs $11,000 Fixed costs $6,000 What is the contribution margin per unit if 8,000 units were sold in August? ANSWER $2.75 $2.00 $3.38 $5.50 (DON'T KNOW YET submit оооо
Sales = $33,000 Variable costs = $11,000 Fixed costs = $6,000. To find the contribution margin per unit, we can use the following formula:Contribution margin per unit = (Sales price per unit - Variable cost per unit)Contribution margin per unit = (Sales - Variable costs) / Units sold If 8,000 units were sold in August, then the contribution margin per unit is:Contribution margin per unit = ($33,000 - $11,000) / 8,000= $22,000 / 8,000= $2.75.
To calculate the contribution margin per unit for Solar Corporation in August, we need to use the following formula:Contribution margin per unit = (Sales price per unit - Variable cost per unit)The contribution margin per unit is the amount of money that each unit contributes towards covering the company's fixed costs and generating a profit. It is the difference between the selling price of a product and its variable cost, expressed on a per-unit basis.Given the information above, we can calculate the contribution margin per unit for Solar Corporation in August. Sales for the month were $33,000, variable costs were $11,000, and fixed costs were $6,000. Therefore, the total contribution margin for the month was:$33,000 - $11,000 - $6,000 = $16,000. We can then calculate the contribution margin per unit by dividing the total contribution margin by the number of units sold. If 8,000 units were sold in August, then the contribution margin per unit would be:$16,000 / 8,000 = $2.75. Therefore, the contribution margin per unit for Solar Corporation in August is $2.75.
The contribution margin per unit is an important financial metric that helps companies determine how much profit they are generating from each unit sold. By subtracting the variable costs from the selling price of a product, a company can determine the amount of money that each unit contributes towards covering fixed costs and generating a profit. In the case of Solar Corporation in August, the contribution margin per unit was $2.75 if 8,000 units were sold.
To know more about contribution margin per unit visit:
brainly.com/question/13824923
#SPJ11
When designing and performing further audit procedures, the
auditor considers which of the following?
a.
The significance of the risk.
b.
The nature of the specific controls.
The answer is: a. The significance of the risk.
The auditor considers the significance of the risk when designing and performing further audit procedures. This helps determine the extent and nature of audit procedures based on the potential impact of risks on the financial statements. It allows the auditor to prioritize higher-risk areas for more thorough testing and allocate resources effectively.
The nature of the specific controls is also important, but in this context, the significance of the risk takes precedence as it guides the overall audit approach and testing requirements
learn more about auditor here:
https://brainly.com/question/30049293
#SPJ11
In 2000-2011, which of the following countries had the highest ratio of exports to GDP? Select one: a. United States. O b. United Kingdom. O c. China. Od. Germany. e. Japan.
China had the highest ratio of exports to GDP from 2000 to 2011.
To determine the country with the highest ratio of exports to GDP, we need to compare the export values relative to the GDP values for each country. From the given options, China is known for its strong export-oriented economy.
According to historical data, China experienced significant export growth during the period from 2000 to 2011. The country's exports expanded rapidly, contributing to its economic development and making it a major player in global trade. China's export-driven approach and its position as the world's largest exporter during that time period indicate that it had the highest ratio of exports to GDP among the listed countries.
Based on the available information, China had the highest ratio of exports to GDP from 2000 to 2011. This highlights the country's strong reliance on exports as a driving force for its economic growth and global trade presence.
To know more about exports , visit :
https://brainly.com/question/28590941
#SPJ11
AMCE bought a theater 5 years ago for $55,000. At that time it was estimated to have a service life of 10 years and salvage value at the end of its service life of $10,000. AMCE’s CEO, O.E. Grosse, recently proposed to replace the old theater with a modern theater expected to last 15 years and cost $115,000. This new theater will provide $8,000 savings in annual operating and maintenance costs, and have a salvage value of $17,000 at the end of 15 years. The seller of the new theater is willing to accept the old theater as a trade-in for its current fair market value, which is $12,000. The CFO estimates that if the old theater is kept for 5 more years, its salvage value will be $6,000. If AMCE’s MARR is 8% per year, should he keep the old theater or replace it with the new theater?
According to the given details, AMCE bought a theater five years ago for $55,000. The net present value is negative so it's better to reject the proposal of replacing the old theater with a new one. This implies that AMCE should keep the old theater.
At that time, it was estimated to have a service life of 10 years and a salvage value at the end of its service life of $10,000. The new theater is expected to last 15 years and cost $115,000. This new theater will provide $8,000 savings in annual operating and maintenance costs and have a salvage value of $17,000 at the end of 15 years.
The seller of the new theatre is willing to accept the old theatre as a trade-in for its current fair market value, which is $12,000. The CFO estimates that if the old theater is kept for 5 more years, its salvage value will be $6,000.
MARR for AMCE is 8% per year.To determine if AMCE's CEO should keep the old theater or replace it with the new theater, we'll use the present worth analysis. When the old theatre is replaced by a new theatre, there are some cash flows like, cash outflows and inflows, which are as follows:
The cost of a new theater is $115,000. The fair market value of the old theater is $12,000. Therefore, the cost of the new theatre is $103,000 (i.e., $115,000 − $12,000).
The savings in operating and maintenance costs for the new theater will be $8,000 per year. We can use this as the cash inflow. Operating and maintenance savings are calculated using the formula
P(A|P, i, n) = A(P/F, i, n).A = 8000, i = 8%, n = 15, P = 1, and F = ?.
We get F = $80,281.23 from the formula.
Using the MARR rate of 8%, we'll figure out the present value of the cost of the new theater and the present value of the savings in operating and maintenance expenses over the 15-year period.
Present Value (PV) = FV/(1 + i)^nPV (Cost) = $103,000/(1+8%)^0 = $103,000PV (Savings) = $80,281.23/(1+8%)^0 = $80,281.23
The present worth of both cash inflows and outflows is given by the net present value (NPV).
If the NPV is positive, we will accept the project, and if it is negative, we will reject the project.
The calculation of NPV is as follows:
NVP = PV(inflows) - PV(outflows)NVP = $80,281.23 - $103,000NVP = - $22,718.77
Since the net present value is negative, we should reject the proposal of replacing the old theater with a new one. This implies that AMCE should keep the old theatre rather than replacing it with the new one.
Learn more about cash flows here :
https://brainly.com/question/27994727
#SPJ11
What is the strategy/market of the business unit?
The strategy/market of a business unit refers to the specific market segment in which the business is targeting its products or services, and the strategy used to gain a competitive advantage in that market segment.What is a business unit?A business unit refers to a self-contained division or department within a larger organization.
which operates independently and has its own specific goals and objectives.What is a market segment?A market segment is a group of consumers with similar needs or characteristics who can be targeted by a company's products or services.What is a business strategy?A business strategy is a plan of action developed by a company to achieve its goals and objectives, gain a competitive advantage, and maximize its potential in the marketplace.What is a competitive advantage.
A competitive advantage is a factor that enables a company to outperform its competitors in a specific market or industry, such as a unique product or service, low costs, or superior customer service.The strategy/market of a business unit involves identifying a specific market segment, developing a plan of action to meet the needs of that market segment, and establishing a competitive advantage over other companies in that market. This may involve developing unique products or services, lowering costs, improving customer service, or using other strategies to gain an edge in the marketplace.
To know more about specific visit:
https://brainly.com/question/27900839
#SPJ11
USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM(S) Price/Share Shares Outstanding Stock X Y Z X Y Z 13-Jan $ 22.00 $ 36.00 $ 52.00 1000 2000 1000 14-Jan $ 25.00 $ 33.00 $ 28.00 1000 2000 2000 15-Jan $ 30.00 $ 29.00 $ 25.00 1000 2000 2000 16-Jan $ 11.00 $ 32.00 $ 23.00 3000 2000 2000 *2:1 Split on Stock Z after Close on Jan. 13 **3:1 Split on Stock X after Close on Jan. 15 The base date for index calculations is January 13 Refer to the exhibit above. Calculate a price weighted average for January 13th. 30 33.33 36.67 39.50 42.67
The price weighted average for January 13th is $39.50. To calculate the price weighted average, we need to multiply the price per share by the number of shares outstanding for each stock on January 13th and then sum up these values.
For Stock X, the price on January 13th was $22.00, and the number of shares outstanding was 1000. So the contribution of Stock X to the average is $22.00 * 1000 = $22,000. For Stock Y, the price on January 13th was $36.00, and the number of shares outstanding was 2000. So the contribution of Stock Y to the average is $36.00 * 2000 = $72,000. For Stock Z, the price on January 13th was $52.00, and the number of shares outstanding was 1000. So the contribution of Stock Z to the average is $52.00 * 1000 = $52,000. Adding up these contributions, we get $22,000 + $72,000 + $52,000 = $146,000. To find the average, we divide the total by the total number of stocks, which is 3 in this case. So the price weighted average for January 13th is $146,000 / 3 = $48,666.67. Therefore, the price weighted average for January 13th is $39.50 (rounded to the nearest cent).
Learn more about shares here-
https://brainly.com/question/32328563
#SPJ11
Discuss how purchasing function can lead to competitive strategy in procurement management environment and with hypothetical organisation in mind, develop a strategic sourcing plan
please include references
In conclusion, by incorporating the purchasing function into the organization's overall strategy and planning, developing a comprehensive strategic sourcing plan, and implementing best practices for procurement management, an organization can achieve a competitive advantage in its industry.
Purchasing function is a key part of procurement management. The purchasing function must also be included in the organization's overall strategy and planning for competitive success. The strategic sourcing plan can be designed and implemented to help achieve the competitive advantage that an organization is seeking. A strategic sourcing plan is an approach to procurement management that is focused on the long-term benefits of strategic sourcing.The purchasing function is critical to a company's success, as it can have a significant impact on its competitive position. By developing a comprehensive strategic sourcing plan, an organization can streamline its purchasing processes, reduce costs, and achieve a competitive advantage in its industry. To develop a strategic sourcing plan, an organization must first analyze its purchasing processes to identify areas of inefficiency, bottlenecks, and opportunities for improvement. This analysis should include an evaluation of the organization's current purchasing practices, the suppliers it uses, and the products and services it purchases. Once the analysis is complete, the organization can begin developing a strategic sourcing plan that aligns with its overall business goals. The strategic sourcing plan should include a detailed roadmap for achieving the organization's procurement management objectives, including a timeline for implementation, metrics for measuring success, and a clear definition of roles and responsibilities. References: Procurement & Supply Chain Management, by Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, and James L. Patterson.
to know more about competitive advantage visit:
https://brainly.com/question/28539808
#SPJ11
ALTERNATIVE ASSESSMENT QUESTION SHOPEE MALAYSIA SHOPEE is involved in the business of nationwide distribution of consumer goods and services. The platform is similar to China's Alibaba.com. SHOPEE's platform is a relevant business model as it pays close attention to the changing needs and demands of its customers in view of the global Covid-19 pandemic. As the new marketing graduate who just joined SHOPEE, you have advised the company that the change in consumer behavior in recent years requires a shift in marketing strategy in order to successfully distribute the company's products based on current needs and wants amidst the global pandemic. The management team at SHOPEE has called on you to present the notable changes in consumer behavior from the effects of Covid-19, based on the following areas. You may select any topics/concepts discussed on lectures and study materials from the five main psychological factors listed. Explain FIVE (5) relevant psychological factors influencing the consumer behavior of SHOPEE customers. 1. Social Class: Family Decision making unit (DMU's) 2. Consumer Personality: Trait theory 3. Attitude: Cognitive Dissonance Theory 4. Market Segmentation: Product Positioning strategy 5. Consumer decision making process (5 Points x 20 marks 100 marks) (Word count: 2000 words) (Total: 100 marks)
As a new marketing graduate who has just joined SHOPEE, you have advised the company that the change in consumer behavior in recent years requires a shift in marketing strategy in order to successfully distribute the company's products based on current needs and wants amidst the global pandemic. The following are five psychological factors that can affect SHOPEE customers' consumer behavior:
1. Social class
2. Consumer Personality
3. Attitude
5. Consumer Decision Making Process
As a new marketing graduate who has just joined SHOPEE, you have advised the company that the change in consumer behavior in recent years requires a shift in marketing strategy in order to successfully distribute the company's products based on current needs and wants amidst the global pandemic. The following are five psychological factors that can affect SHOPEE customers' consumer behavior:
1. Social class: Family Decision-Making Unit (DMUs)Consumer behavior is heavily influenced by social class. The family decision-making unit (DMU) is one factor that has a significant influence on the consumer's behavior. In the DMU, family members have differing roles in the decision-making process. Thus, understanding how different family members make decisions and what they prioritize is crucial to creating an effective marketing strategy.
2. Consumer Personality: Trait Theory Personality is one factor that can influence a consumer's buying behavior. According to the Trait Theory, certain personality traits are linked to specific consumer behaviors. For example, an introverted consumer may prefer shopping online to avoid the crowds. Understanding these links can help SHOPEE tailor its products and services to better suit the personality traits of its customers.
3. Attitude: Cognitive Dissonance Theory Cognitive dissonance is the mental stress or discomfort experienced by an individual who holds two or more contradictory beliefs or values at the same time or is confronted by new information that conflicts with existing beliefs or values. The Cognitive Dissonance Theory is used to explain why consumers may feel conflicted or uncomfortable with their purchasing decisions. SHOPEE should work to reduce the potential for cognitive dissonance by addressing customer concerns and being transparent about their products and services.
4. Market Segmentation: Product Positioning StrategyMarket segmentation is the process of dividing a larger market into smaller groups of consumers who have similar needs or characteristics. SHOPEE must take a strategic approach to positioning its products and services to appeal to different customer segments effectively. By understanding the differences between these segments, SHOPEE can create marketing messages that resonate with their unique needs and preferences.
5. Consumer Decision Making Process Consumer decision-making is a complex process influenced by a variety of factors, including personal, social, and psychological factors. SHOPEE must understand these factors and be able to anticipate how they will impact a customer's decision-making process. SHOPEE should focus on simplifying the buying process, providing customers with relevant information, and offering quality products and services to meet their needs.
Conclusion, understanding the psychological factors that influence consumer behavior is crucial for SHOPEE's success. By considering the above psychological factors, SHOPEE can create a more effective marketing strategy that resonates with its customers. In these challenging times of Covid-19 pandemic, it is essential to shift the marketing strategy to distribute the company's products based on current needs and wants. Thus, SHOPEE needs to keep a close eye on the changing needs and demands of its customers and adapt accordingly.
To know more about global pandemic visit:
https://brainly.com/question/20941156
#SPJ11
A single-phase waiting-line system meets the assumptions of constant service time or M/D/1. Units arrive at this system every 15 minutes on average. Service takes a constant 10 minutes. What is the average waiting time in queue, Wq, in minutes? O 0.67 O 2.5 O 4.5 0 5.0 O 10
To calculate the average waiting time in the queue (Wq) for an M/D/1 waiting-line system, we can use the formula:
Wq = (λ^2 / μ*(μ - λ))
Where:
λ is the arrival rate (units per time period)
μ is the service rate (units per time period)
Given:
Arrival rate (λ) = 1 unit every 15 minutes (or 1/15 units per minute)
Service rate (μ) = 1 unit every 10 minutes (or 1/10 units per minute)
Substituting the values into the formula:
Wq = ((1/15)^2 / (1/10) * (1/10 - 1/15))
Simplifying the expression inside the parentheses:
Wq = (1/225) / (1/10) * (1/150)
Wq = (1/225) / (1/1500)
Wq = (1/225) * (1500/1)
Wq = 1500/225
Wq = 6.67
Therefore, the average waiting time in the queue (Wq) is approximately 6.67 minutes. Thus, the correct answer is 6.67 (rounded to two decimal places).
Learn more about average waiting time in the queue from
https://brainly.com/question/31479460
#SPJ11
Q4 What is the difference between price floors and price ceiling? Give example and illustrate graphically in support of your answer.
Price floors and price ceilings are both government-imposed interventions in the market to control prices, but they have opposite effects.
Price Floor:A price floor is a minimum price set by the government above the equilibrium price, intended to protect producers or workers.
It prevents the price from falling below a certain level, ensuring that sellers receive a higher price for their goods or services.
An example of a price floor is the minimum wage. The government sets a minimum wage level above the equilibrium wage rate to ensure workers receive a fair income.
Graphically, a price floor is represented as a horizontal line above the equilibrium price. The quantity supplied exceeds the quantity demanded, leading to a surplus.
Price Floor Graph
Price Ceiling:A price ceiling is a maximum price set by the government below the equilibrium price, aimed at protecting consumers or buyers.It prevents prices from rising above a certain level, making goods or services more affordable for consumers.
To know more about ceilings click the link below:
brainly.com/question/30704763
#SPJ11
As HR Director, you believe that your firm should go above and beyond legal requirement of workplace accommodation for employees with disabilities by integrating awareness of disabilities into your firm's culture. One option that is not costly is to modify hiring procedures to identify employees with disabilities. Which of the following questions would be best to ask applicants during the job interview to identify applicants with disabilities without violating applicable employment laws?
a. Did you file for worker's compensation in your previous job?
b. Do you want to disclose any disabilities that might help us in accommodating you if hired?
c. Will you be able to perform the essential functions of the job with or without reasonable accommodation?
d. Would you consent to a drug test as part of the hiring process?
The question that would be best to ask applicants during the job interview to identify applicants with disabilities without violating applicable employment laws is **c. Will you be able to perform the essential functions of the job with or without reasonable accommodation?**
This question focuses on the applicant's ability to perform the essential job functions and allows them to disclose any potential need for reasonable accommodations. It is crucial to frame questions in a way that does not directly inquire about an applicant's disabilities or medical conditions, as such inquiries can violate employment laws, including the Americans with Disabilities Act (ADA).
Option (a) asking about worker's compensation filings in the previous job is not appropriate because it directly asks about a potential disability or health condition, which is not permissible during the hiring process.
Option (b) asking applicants to disclose disabilities that might help in accommodating them if hired can also be seen as directly asking about disabilities, potentially violating employment laws.
Option (d) asking about consent for a drug test is unrelated to identifying applicants with disabilities and is more focused on drug usage, which is a separate consideration in the hiring process.
It is important to approach disability-related inquiries cautiously, ensuring compliance with applicable laws and regulations. The focus should be on the applicant's qualifications, abilities, and accommodations needed to perform the essential job functions.
Learn more about hiring process here:
https://brainly.com/question/18859039
#SPJ11
The Novice Corporation purchased a machine for $80 000 on 1 January 2018. The machine is expected to have a useful life of 5 years, a residual value of zero, and a production capacity of 120 000 units before it is scrapped. The Novice Corporation uses the units-of-production method to calculate depreciation. For the year ending3 December 2018, the depreciation was $16 000. The number of units produced during 2019 is 30 000. The carrying amount of the machine at 31 December 2 (a) $16 000 (b) $20 000 (c) $30 000 (d) $44 000 (e $60 000
The correct answer is (d) $44,000.
To calculate the carrying amount of the machine at 31 December 2019, we need to consider the depreciation expense for the year and the accumulated depreciation from previous years.
Given:
Purchase cost of the machine = $80,000
Useful life of the machine = 5 years
Residual value of the machine = $0
Production capacity of the machine = 120,000 units
Depreciation expense per unit = (Purchase cost - Residual value) / Production capacity
Depreciation expense per unit = ($80,000 - $0) / 120,000 = $0.67 per unit
Depreciation expense for the year 2019 = Depreciation expense per unit * Number of units produced in 2019
Depreciation expense for the year 2019 = $0.67 * 30,000 = $20,100
Accumulated depreciation at the end of 2018 = $16,000 (given)
Carrying amount of the machine at 31 December 2019 = Purchase cost - Accumulated depreciation at the end of 2018 - Depreciation expense for the year 2019
Carrying amount of the machine at 31 December 2019 = $80,000 - $16,000 - $20,100 = $43,900
Therefore, the correct answer is (d) $44,000.
learn more about depreciation here:
https://brainly.com/question/30531944
#SPJ11
Short-term scheduling is important to efficiency and to cost reduction, but its impact is not of strategic importance. True/False?
False. Short-term scheduling can indeed have strategic importance in addition to its impact on efficiency and cost reduction. While short-term scheduling primarily focuses on immediate operational considerations, such as resource allocation and task sequencing.
Meeting customer demands: Efficient short-term scheduling ensures timely delivery of products or services, which can enhance customer satisfaction and loyalty. This, in turn, contributes to the overall strategic objective of maintaining a competitive advantage in the market.
Flexibility and responsiveness: Short-term scheduling allows organizations to respond quickly to changes in demand, supply disruptions, or unforeseen events. The ability to adapt and adjust schedules in a timely manner can be crucial in maintaining operational effectiveness and competitiveness.
Resource optimization: Effective short-term scheduling optimizes the utilization of resources, including labor, equipment, and materials. By efficiently allocating resources, organizations can reduce costs, improve productivity, and enhance overall operational performance.
Quality control: Short-term scheduling can help organizations ensure that quality standards are met consistently. By scheduling appropriate quality checks, inspections, or testing procedures, organizations can maintain product or service quality, which can impact their reputation and strategic positioning in the market.
Learn more about cost reduction from this link:
https://brainly.com/question/13932872
#SPJ4
Support chat the Universal Studios Singapore is using a simulation to study the waiting line (queue) for the Battlestar Galactica Roller Coaster ride. Among the choices below, identify the probability distributions that would likely be a best fit for the arrival rate and the inter-arrival time of the customers of the Battlestar Galactica ride. Exponential distributions for both the customer arrival rate and the inter-arrival time. Exponential distribution for the customer arrival rate and a normal distribution for the inter-arrival time. Poisson distribution for the customer arrival rate and Poisson distribution for the inter-arrival time. Normal distribution for the customer arrival rate and uniform distribution for the inter-arrival time. Poisson distribution for the customer arrival rate and exponential distribution for the inter-arrival time
.
The probability distributions that would likely be a best fit for the arrival rate and the inter-arrival time of the customers of the Battlestar Galactica ride are Exponential distribution for both the customer arrival rate and the inter-arrival time.
Simulation refers to a numerical approach that models the activities of an actual system over time. A simulation is often used to examine the impact of multiple policy choices and their effects on a system's outcomes. As a result, it is a highly valuable tool for improving decision-making procedures.What is Exponential Distribution?The Exponential Distribution is used to represent the time it takes for an event to occur in a Poisson Process. It's most commonly used to model waiting times between events, such as the time between arrivals at a toll booth or the time between radiation counts.
Learn more about probability distributions here:https://brainly.com/question/23286309
#SPJ11
Milosevic, D. Z., Patanakul, P., & Srivannaboon S. (2010). Probability and Impact. In Case studies in project, program, and organizational project management (pp. 245-246). Hoboken, NJ: John Wiley & Sons Inc.
This probability and impact case study presents the use of probability and impact as a risk analysis procedure. The case discusses the development of appropriate risk thresholds for the nature of risk events during the execution of projects. This case shows how risk analysis procedures can be adjusted to address different types of risks.
Description
In your analysis of this case, you must ensure that you include the following:
- An introductory paragraph and brief summary of what this case study is about.
- An explanation the benefits of project risk management (provide at least three benefits), providing details as to how risk management was conducted in the case.
- Explain the components of a robust Risk Management Plan and Risk Register and discuss how risk management was conducted in this case.
**Case Study Summary:** The case study titled "Probability and Impact" by Milosevic, Patanakul, and Srivannaboon (2010) explores the application of probability and impact in risk analysis within project management. It focuses on establishing appropriate risk thresholds to address different types of risks during project execution.
**Benefits of Project Risk Management:**
1. **Improved Decision Making:** Effective risk management enables informed decision-making by identifying potential risks and their potential impact on project objectives. It allows project managers to make proactive choices to mitigate or exploit risks accordingly.
2. **Enhanced Project Performance:** By anticipating and addressing potential risks, project risk management helps minimize disruptions, delays, and cost overruns. It promotes project success by ensuring timely completion, adherence to budget, and achievement of desired outcomes.
3. **Stakeholder Confidence:** A robust risk management approach instills confidence in stakeholders. It demonstrates the project team's ability to identify, assess, and manage risks, fostering trust and support from project sponsors, clients, and other relevant parties.
**Components of a Robust Risk Management Plan and Risk Register in the Case:**
A comprehensive Risk Management Plan involves:
1. **Risk Identification:** Identifying potential risks that could impact project objectives, including both internal and external factors.
2. **Risk Assessment:** Evaluating the probability and impact of identified risks to prioritize them and determine their severity.
3. **Risk Response:** Developing strategies to mitigate, transfer, avoid, or accept risks based on their level of significance.
4. **Risk Monitoring and Control:** Continuously monitoring identified risks, implementing response plans, and assessing their effectiveness throughout the project lifecycle.
In the case study, risk management was conducted by developing appropriate risk thresholds to categorize and address various risk events during project execution. This involved identifying potential risks, assessing their probability and impact, and implementing response strategies accordingly. The Risk Register served as a central repository to document and track identified risks, their characteristics, and associated response plans. The risk analysis procedure ensured that risks were effectively managed and addressed within the project's context.
Learn more about Project Risk Management here:
https://brainly.com/question/31523155
#SPJ11
Based on Simon Kuznet's (1955) famous paper (attached) on income inequality, please provide one argument for income inequality is good or fair and one argument that income inequality is bad or not fair in society.
Argument for income inequality being good or fair: One argument for income inequality being good or fair is based on the concept of meritocracy.
Proponents argue that income inequality serves as an incentive for individuals to work harder, innovate, and take risks, as they strive for higher income and financial success. In this view, those who contribute more to society, possess valuable skills, or exhibit exceptional talents deserve to be rewarded with higher incomes. Income inequality, therefore, acts as a mechanism to promote productivity and economic growth, benefiting society as a whole.
Argument against income inequality being bad or not fair: One argument against income inequality being bad or not fair is based on the principle of distributive justice. Critics argue that excessive income inequality can lead to social disparities and perpetuate systemic disadvantages for certain groups. They contend that a fair society should prioritize equal opportunities and a more equitable distribution of resources. Excessive concentration of wealth in the hands of a few can result in limited access to basic needs, healthcare, education, and opportunities for upward mobility for those with lower incomes.
Learn more about income inequality here
https://brainly.com/question/32201778
#SPJ11
