NAFTA (North American Free Trade Agreement) and the EU (European Union) represent economic integration and regional trade agreements.
NAFTA and the EU represent two different forms of economic integration in the field of international business. NAFTA is a regional trade agreement between Canada, Mexico, and the United States, while the EU is a political and economic union comprising 27 European countries.
Both NAFTA and the EU aim to facilitate trade agreements and enhance economic cooperation among member countries. They work towards eliminating trade barriers, such as tariffs and quotas, and promote the free movement of goods, services, and capital within their respective regions. These agreements also encourage investment flows and foster economic growth among member nations.
NAFTA and the EU provide a framework for harmonizing trade regulations, establishing common standards, and resolving trade disputes among member countries. They create a larger market and promote the integration of supply chains, allowing businesses to access a wider customer base and benefit from economies of scale.
Overall, NAFTA and the EU exemplify efforts to deepen economic integration and cooperation within specific regions, fostering increased trade and economic prosperity among member nations.
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Given the evidence on average mutual fund performance and the
size of average fund fees charged, it is clear that the mutual fund
industry is destroying value and should be closed." Discuss (25
mark
The statement is False. While some studies suggest that average mutual fund performance is subpar and fees can be high, it doesn't necessarily mean the industry as a whole is destroying value.
that the mutual fund industry is destroying value and should be closed is an overly simplistic and exaggerated conclusion. It is true that certain studies have shown that the average performance of mutual funds may not consistently outperform benchmark indexes after accounting for fees. Additionally, high fees can erode returns over time.However, it is important to consider the broader context and recognize that not all mutual funds are the same. Mutual funds offer diversification, professional management, and access to a wide range of asset classes that individual investors may not be able to access on their own. Many investors find value in these features and benefit from them, even if the average performance may not be stellar.Moreover, it's worth noting that there are mutual funds with strong track records, low fees, and successful strategies that have delivered good results for investors. .
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Explain what is the size effect. How should you construct a risk
factor (portfolio) to capture the size effect?
The size effect refers to the observed phenomenon in finance where smaller companies tend to achieve higher returns compared to larger companies.
This effect challenges the traditional notion that larger companies offer greater stability and growth prospects.
To capture the size effect, a risk factor or portfolio can be constructed by forming a portfolio that includes a combination of small-cap stocks and large-cap stocks. One common approach is to create a "Small Minus Big" (SMB) portfolio, which involves taking long positions in small-cap stocks and short positions in large-cap stocks. This portfolio allows investors to exploit the performance differences between small and large companies and potentially benefit from the size effect in their investment strategies.
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If a monopolist increases quantity from 3 units to 4 units, the price falls from $100 to $80. Pick the correct statement about Marginal Revenue. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Gain in revenue from new units $100, Loss in Revenue from old units =$80, Marginal Revenue - $20. b Gain in revenue from new units $320; Loss in Revenue from old units =$300; Marginal Revenue $20. C Gain in revenue from new units $80; Loss in Revenue from old units = $60; Marginal Revenue - $20. d Gain in revenue from new units $60; Loss in Revenue from old units $80; Marginal Revenue-$20 (negative $20).
The correct statement about Marginal Revenue in this scenario is C. Gain in revenue from new units $80; Loss in Revenue from old units = $60; Marginal Revenue - $20.
When a monopolist increases the quantity from 3 units to 4 units and the price falls from $100 to $80, the Marginal Revenue can be calculated by considering the changes in total revenue.
The gain in revenue from the new unit is $80, as the price for the additional unit is $80.
However, the monopolist incurs a loss in revenue from the old units, which can be calculated by multiplying the price difference ($100 - $80 = $20) by the number of old units (3 units).
Thus, the loss in revenue from the old units is $60.
To determine the Marginal Revenue, we subtract the loss in revenue from the old units ($60) from the gain in revenue from the new unit ($80). This results in a Marginal Revenue of $20.
Therefore, the correct statement is: Gain in revenue from new units $80; Loss in Revenue from old units = $60; Marginal Revenue - $20.
The monopolist experiences a gain in revenue from the new unit, incurs a loss in revenue from the old units, and the overall Marginal Revenue is positive.
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Miller will deposit $3,000 in the bank for 18 years. The Bank pays 6.7% per year, but it compounds the money weekly. What is the value of the account after this period (to the nearest cent) ? Use 52 weeks in one year for your calculations. Hint: To get this correct, you can not truncate intermediate calculations because you will not be precise enough in your final answer. To avoid problems store intermediate results in memory or write down all the significant digits and then renter all of them to continue.
After 18 years, with a weekly compounding interest rate of 6.7% per year, Miller's account will be valued at approximately $8,705.42.
To calculate the value of Miller's account after 18 years, we need to consider the compound interest formula: A = P * (1 + r/n)^(nt) Where: A = the final amount P = the principal amount (initial deposit) r = the annual interest rate (6.7% in this case) n = the number of compounding periods per year (52 weeks) t = the number of years (18 years) Substituting the given values into the formula, we have: A = 3000 * (1 + 0.067/52)^(52*18) Calculating this equation, the value of Miller's account after 18 years is approximately $8,705.42. This amount takes into account the compounding effect of the interest, which occurs weekly. By using the exact values and not truncating intermediate calculations, we can provide a precise answer.
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An economic model based in positive economics should be judged Select one: A. by its ability to accurately capture and describe the many complex details of the real economy. B. by the quality and quantity of its underlying assumptions. C. by the accuracy of its predictions rather than by the accuracy of its assumptions. D. on its ability to incorporate the idiosyncratic factors that typically characterize human interactions
B. by the quality and quantity of its underlying assumptions. An economic model based on positive economics should be evaluated based on the soundness and relevance of its underlying assumptions.
Assumptions in economic models serve as simplifications of real-world complexities and help establish the framework for analysis. They are made to facilitate understanding and draw conclusions about economic phenomena. The quality of assumptions is crucial as it affects the validity and reliability of the model's predictions and policy implications. Assumptions should be logical, based on empirical evidence, and align with the specific context being analyzed. Additionally, assumptions should be clearly stated and transparent, allowing for scrutiny and evaluation. Careful consideration of assumptions is necessary to ensure the model accurately reflects real-world dynamics and produces meaningful insights for economic analysis and decision-making.
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FILL THE BLANK. "Question 13 pts
The distance between each party’s resistance point in an
negotiation is referred to as the ______.
Group of answer choices
Zone of Possible Argument
Zone of Potential Arguments
Pone"
The distance between each party’s resistance point in an negotiation is referred to as the Zone of Possible Agreement. The term ‘Zone of Possible Agreement (ZOPA)’ is frequently used in negotiation to define the range in which two parties could agree, depending on their preferences and negotiation strategy.
It is also known as the bargaining range, bargaining zone, or the area of potential agreement. In a negotiation, every party has a resistance point, which is the level past which they won’t agree to the deal. ZOPA is the overlap of each party’s resistance point, where they both have the potential to come to an agreement. In other words, it is the range between the seller’s reservation point and the buyer’s reservation point.
For a negotiation to be successful, the parties involved must find a way to establish a ZOPA between themselves where both parties feel that the agreement is beneficial to them. The ZOPA is crucial to a successful negotiation because it indicates that both parties are able to reach an agreement and will therefore be invested in upholding it. If no ZOPA exists, the negotiation may end in an impasse, where no agreement can be reached, and the parties must resort to other options. The ZOPA is affected by different factors, including the parties’ priorities, the value of the goods being exchanged, and the information available to the parties.
The size of the ZOPA also varies based on each party’s resistance point, which could change as the negotiation proceeds. The negotiation process is not easy, but with the right approach, it is possible to achieve a successful negotiation.
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Exercise 1: Journalize the following business transactions in general journal form. Identify each transaction by number. 1. The owner, Athena Lu, invests $40,000 in cash in starting a real estate office operating as a sole proprietorship. 2. Purchased $400 of supplies on credit. 3. Purchased equipment for $8,000, paying $2,000 in cash and signed a 30-day, $6,000, note payable. 4. Real estate commissions billed to clients amount to $4,000. 5. Paid $700 in cash for the current month's rent. 6. Paid $200 cash on account for supplies purchased in transaction 2. 7. Received a bill for $600 for advertising for the current month. 8. Paid $2,200 cash for office salaries and wages. 9. Lu withdrew $1,500 from the business for living expenses. 10. Received a check for $3,000 from a client in payment on account for commissions billed in transaction 4.
Cash 40,000
Capital 40,000
(Owner's investment of $40,000 in cash)Supplies 400
Accounts Payable 400
(Purchase of supplies on credit for $400)Equipment 8,000
Cash 2,000
Notes Payable 6,000
(Purchase of equipment for $8,000, $2,000 paid in cash, and a $6,000 note payable)Accounts Receivable 4,000
Commission Revenue 4,000
(Recognition of real estate commissions billed to clients amounting to $4,000)Rent Expense 700
Cash 700
(Payment of $700 in cash for the current month's rent)Accounts Payable 200
Cash 200
(Payment of $200 cash on account for supplies purchased in transaction 2)Advertising Expense 600
Accounts Payable 600
(Recognition of a $600 bill for advertising for the current month)Salaries and Wages Expense 2,200
Cash 2,200
(Payment of $2,200 cash for office salaries and wages)Athena Lu, Drawing 1,500
Cash 1,500
(Withdrawal of $1,500 from the business for living expenses)Cash 3,000
Accounts Receivable 3,000
(Receipt of a $3,000 check from a client as payment on account for commissions billed in transaction 4)The journal entries represent the various business transactions and their impact on the accounts involved. Each transaction is identified by a number to easily distinguish them. The transactions are recorded in a general journal format, with the debit amount listed first and the credit amount listed second. The accounts affected by each transaction are also mentioned.
By journalizing the business transactions, the financial activities of the real estate office have been properly recorded. This will enable accurate bookkeeping and provide a basis for future financial analysis and reporting. Journalizing transactions is an essential step in the accounting process to maintain accurate records of business activities.
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Kirtland Corporation uses a periodic inventory system. At the end of the annual accounting period, December 31, 2015, the accounting records for the most popular item in inventory showed the following:
TransactionsUnitsUnit Cost Beginning inventory, January 1, 2015380 $3.00 Transactions during 2015: a. Purchase, January 30280 3.20 b. Purchase, May 1440 4.00 c. Sale ($5 each)(140) d. Sale ($5 each)(680)
Compute the dollar amount of ending inventory and cost of goods sold at December 31, 2015 under Average cost, First-in, first-out, Last-in, first-out, Specific identification of the inventory costing methods. Specific identification: assuming that the first sale was selected two-fifths from the beginning inventory and three-fifths from the purchase of January 30, 2015. Assume that the second sale was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1, 2015. (Do not round intermediate calculations. Round "Average Cost and Specific Identification" to 2 decimal places.)
Need help figuring out the specific identification for ending inventory and cost of goods sold thanks.
The cost of goods sold and ending inventory under different inventory costing methods are: Inventory costing methods Cost of goods sold Ending inventory Average cost $1,023.64 $1.51 FIFO $1, 704$1,360 LIFO $2,598 $880
Under specific identification, the cost of ending inventory and cost of goods sold are calculated as follows:
Cost of goods sold = 140($3) + 280($3.2) + 200($4) = $1,480
Ending inventory = 60($3) + 120($3.2) + 240($4) = $1,560
Below are the calculations under average cost, first-in, first-out (FIFO), and last-in, first-out (LIFO) costing methods. Average Cost method: Under average cost, the cost of goods sold and ending inventory are calculated as follows:
Cost of goods sold = (380 + 280 + 440) ÷ 1100 × $3 + 140 × $3.2 = $1,023.64
Ending inventory = (60 + 240) ÷ 1100 × $3 + 120 ÷ 1100 × $3.2 + 200 ÷ 1100 × $4 = $1.51
FIFO method: Under FIFO, the cost of goods sold and ending inventory are calculated as follows:
Cost of goods sold = 380 × $3 + 140 × $3.2 + 280 × $4 = $1,704
Ending inventory = 60 × $3 + 120 × $3.2 + 200 × $4 = $1,360
LIFO method: Under LIFO, the cost of goods sold and ending inventory are calculated as follows:
Cost of goods sold = 140 × $4 + 680 × $3.2 + 220 × $3 = $2,598
Ending inventory = 160 × $4 + 100 × $3.2 + 100 × $3 = $880
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The marketing plan should include
a. a competitor analysis.
b. a summary of market assumptions.
c. an analysis of alternative markets.
d. a sales forecast broken down by government industrial classifications.
The marketing plan should include:
a. A competitor analysis: This involves researching and analyzing the strengths, weaknesses, strategies, and market positions of competitors. It helps identify competitive advantages, areas of opportunity, and potential threats.
b. A summary of market assumptions: This section outlines the key assumptions about the target market, including market size, growth rate, customer demographics, and trends. It provides a foundation for decision-making and strategy development.
c. An analysis of alternative markets: This involves evaluating potential alternative markets or market segments that the company could target. It helps identify new opportunities for growth and expansion beyond the existing market.
d. A sales forecast broken down by government industrial classifications: This section provides a sales forecast that breaks down projected revenue by government industrial classifications. It helps in understanding the revenue potential from different government sectors or industries.
In summary, the marketing plan should encompass a competitor analysis, a summary of market assumptions, an analysis of alternative markets, and a sales forecast broken down by government industrial classifications. These components help in understanding the competitive landscape, market dynamics, growth opportunities, and revenue projections, which are crucial for developing effective marketing strategies and achieving business objectives.
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Do pharmaceutical products have an elastic or inelastic
demand.
Please explain.
Looking forward to the discussion.
The demand for pharmaceutical products can be considered inelastic, meaning that changes in price typically have a relatively small impact on the quantity demanded. There are several reasons for this:
1. Necessity and Lack of Substitutes: Many pharmaceutical products are essential for maintaining health, treating illnesses, or managing chronic conditions. In such cases, consumers have limited alternatives or substitutes available. When it comes to critical medications, consumers often have little choice but to purchase them regardless of price changes.
2. Lack of Consumer Control: In many cases, individuals do not have direct control over the need for pharmaceutical products. Medical professionals, such as doctors or healthcare providers, often make the decision to prescribe specific medications based on the patient's condition. This lack of consumer control reduces their ability to change their demand based on price fluctuations.
3. Life-Saving or Life-Improving Effects: Pharmaceutical products can have a significant impact on individuals' health and well-being. Medications that can save lives, alleviate pain, or improve the quality of life are often seen as necessities. Consumers are generally willing to pay higher prices for such products due to the perceived benefits they provide.
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Question 1 The following information is taken from the financial statements for Lavender Ltd for the year ended 30 June 20X5. Extract from the Income Statement is as follows $ Sales revenue 45,000,000
Lavender Ltd reported sales revenue of $45,000,000 for the year ended 30 June 20X5.
This figure represents the total amount of money the company generated from its business activities, such as selling goods or providing services, during the specified period. It is important to analyze sales revenue as it provides insights into the company's financial performance, market demand, and overall business health.
Additionally, monitoring sales revenue over time helps identify trends, evaluate growth strategies, and assess the effectiveness of marketing and sales efforts. Keep in mind that sales revenue is a gross figure and does not take into account any expenses, such as production costs or operating expenses, that Lavender Ltd may have incurred during the same period.
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In order to avoid long-term dilution, a corporation should determine whether the necessary additional earnings from the issue are realistic relative to their historic
profit margin.
times interest earned.
total asset turnover.
return on assets.
When a corporation is considering issuing more shares of stock, it is important for them to determine whether the additional earnings that would come from the issue are realistic relative to their historic profit margin.
This is because if the earnings from the new shares are not sufficient to cover the dilution caused by the increased number of shares outstanding, the existing shareholders' ownership percentage and earnings per share will be reduced. One way to assess whether the additional earnings are realistic is to look at the corporation's times interest earned ratio, which measures its ability to meet its interest obligations. If this ratio is low, it may indicate that the corporation is already struggling to generate sufficient earnings to cover its existing financial obligations and may not be able to generate enough additional earnings to cover the dilution caused by the new shares. Similarly, it can be helpful to look at the corporation's total asset turnover and return on assets ratios. These ratios provide insight into the efficiency with which the corporation is using its assets to generate earnings. If these ratios are low, it may indicate that the corporation is not generating enough earnings from its existing assets to justify the issuance of additional shares.
Overall, corporations should carefully consider the potential long-term dilution caused by the issuance of additional shares and ensure that the necessary additional earnings are realistic relative to their historic performance and financial obligations.
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QUESTION 4 Write a simple definition of the following sampling designs: (a) Convenience sampling (b) Snowball sampling (c) Quota sampling
Sampling is a process of selecting individuals from a population to be included in a study. The sampling design is the method used to select these individuals from the population.
Three common sampling designs are convenience sampling, snowball sampling, and quota sampling.Convenience sampling is a non-probability sampling method that involves selecting participants who are easy to access. For example, a researcher may select participants from a college campus by standing outside the cafeteria and asking individuals who walk by to participate. Because participants are selected based on their availability and willingness to participate, the sample may not be representative of the population.
Snowball sampling, also known as chain referral sampling, is a non-probability sampling method used when individuals in the population are difficult to identify or locate. In this method, the researcher selects a few participants who meet the inclusion criteria and asks them to refer other individuals who meet the criteria. This process is repeated until the sample size is reached. This method is useful when the population is small or hard to reach.
Quota sampling is a non-probability sampling method that involves selecting participants who meet specific characteristics in predetermined proportions. The researcher identifies the important characteristics of the population, such as age, gender, and education level, and then selects participants who fit these characteristics until the predetermined quota is reached. This method is useful when the population is large and diverse, but the researcher still wants to ensure that the sample represents the population.
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fill in the blank ____ is an example of a company that uses cross-functional teams at all levels of the organization
An example of a company that uses cross-functional teams at all levels of the organization - Amazon. Amazon's use of cross-functional teams allows for faster decision-making, more accurate problem-solving, and a stronger sense of ownership among employees.
Amazon is an example of a company that uses cross-functional teams at all levels of the organization. The Amazon corporate culture is characterized by teamwork and collaboration. Amazon is known for its high degree of customer service and satisfaction, which is achieved through the use of cross-functional teams at all levels of the organization.
Cross-functional teams, as the name implies, are made up of people from various departments or functional areas who collaborate to achieve a common goal. This structure fosters communication, creativity, and innovation, resulting in a more efficient and effective work environment.
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Which of the following alternatives represents the correct amount that must be disclosed as loans advanced to (received from) directors of the company in the cash flows from operating activities section of the statement of cash flows of Phokwane Limited for the year ended 28 February 2022?
a. 11 600
b. 0
c. (11 600)
d. (16 100)
e. 16 100
The correct amount that must be disclosed as loans advanced to (received from) directors of the company in the cash flows from operating activities section of the statement of cash flows of Phokwane Limited for the year ended 28 February 2022 is (11 600).
Explanation: Statement of cash flows A statement of cash flows shows the inflows and outflows of cash and cash equivalents of a business for a given period, typically a month or a year. A statement of cash flows can be divided into three sections: cash flows from operating activities, cash flows from investing activities, and cash flows from financing activities. The statement of cash flows reveals how cash and cash equivalents have been created or consumed during a given period. The correct amount that must be disclosed as loans advanced to (received from) directors of the company in the cash flows from operating activities section of the statement of cash flows of Phokwane Limited for the year ended 28 February 2022 is (11 600). This is based on the following calculation: Loans advanced to directors = R23 200 Loans received from directors = R11 600 Net loans advanced to directors = R11 600. The net amount of the loan is included as a decrease in cash inflows in the cash flow from operating activities section.
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Suppose the demand for oil is P=197Q-0.20. There are
two oil producers who form a cartel. Producing oil costs $6 per
barrel. What is the profit of each cartel member?
The profit of each cartel member can be calculated by determining the quantity of oil they produce and sell at the equilibrium price. The difference between the revenue from selling oil and the cost of production will give us the profit. The profit for each cartel member is approximately zero.
To find the profit of each cartel member, we need to determine the equilibrium quantity of oil and the corresponding price. Given the demand equation P=197Q-0.20, we can set this equal to the cost of production to find the equilibrium quantity.
Cost of production: $6 per barrel
Equilibrium price (P): $6
Substituting the equilibrium price into the demand equation, we have:
6 = 197Q - 0.20
Solving for Q, we find: 197Q = 6.20
Q ≈ 0.0314
Now, we can calculate the revenue and profit for each cartel member. Since there are two members, let's assume they split the quantity equally. Thus, each member produces approximately 0.0157 barrels of oil.
Revenue = Price x Quantity = $6 x 0.0157 ≈ $0.0942
Cost of production = $6 x 0.0157 = $0.0942
Profit = Revenue - Cost of production = $0.0942 - $0.0942 = $0
Therefore, the profit for each cartel member is approximately zero.
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where would we find a firm’s minimum efficient scale of production?
A firm's minimum efficient scale of production refers to the lowest level of output at which the firm can achieve optimal efficiency in terms of cost per unit of output. It represents the point where the firm is operating at the lowest average total cost.
Determining the specific location of a firm's minimum efficient scale of production requires analyzing its cost structure and economies of scale. Economies of scale are cost advantages that a firm can achieve as it increases its level of production. Initially, as the firm expands its output, it may experience increasing returns to scale, leading to lower average costs. However, beyond a certain point, the firm may encounter diminishing returns to scale, causing average costs to increase.
The minimum efficient scale of production varies across industries and depends on factors such as technology, market demand, and production processes. In general, it can be found by studying the firm's cost curves, particularly the long-run average cost (LRAC) curve. The LRAC curve shows the relationship between the firm's output and its average cost over the long run when all inputs are variable.
The minimum efficient scale of production is typically represented by the bottom point of the LRAC curve, where average costs are minimized. At this output level, the firm achieves economies of scale and operates with optimal efficiency. It is important to note that the exact location of the minimum efficient scale can shift over time due to changes in technology, market conditions, or other factors.
To identify a firm's minimum efficient scale, you would need access to data on its cost structure, production levels, and cost curves. This information is typically available through the firm's financial statements, industry reports, or economic analyses.
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One of the chair sifts at a ski resort unloads 1,800 skiers per hour at the top of the slope. The ride from the bottom to the top takes 11 minutes. Instruction. Do not round your intermediate and round final answer to nearest infeger How many skiers are riding on the lift at any given time?
The ski lift unloads 1,800 skiers per hour at the top of the slope. The ride from the bottom to the top takes 11 minutes. To find: How many skiers are riding on the lift at any given time?
Solution: We know that the number of skiers riding on the lift at any given time is the product of the number of minutes of ride duration and the number of skiers the lift can accommodate per minute, minus the number of skiers the lift unloads per minute, multiplied by the number of minutes of ride duration.Number of skiers riding on the lift at any given time = (number of minutes of ride duration × number of skiers the lift can accommodate per minute) − (number of skiers the lift unloads per minute × number of minutes of ride duration)Number of minutes of ride duration = 11 minutes. Since the ski lift unloads 1,800 skiers per hour at the top of the slope, it means that it unloads 1,800/60 = 30 skiers per minute.Number of skiers the lift can accommodate per minute = Number of skiers the lift unloads per minute + Number of skiers riding on the lift at any given time 30 + number of skiers riding on the lift at any given time = (1,800/60)30 + number of skiers riding on the lift at any given time = 30 + 30 number of skiers riding on the lift at any given time = 30. The number of skiers riding on the lift at any given time is 30. Answer: Therefore, the answer is 30.
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Gilgamesh is employed as a mid-range comptroller-an accounting and finance manager-working at an interior lighting design and manufacturing company. While preparing financial reports, Gilgamesh finds out the chief officers are committing tax fraud, falsifying accounts and financial records, and deceiving investors in a pyramid scheme using the company's resources. Gilgamesh decides to inform the authorities about the officers wrongful conduct. Which of the following is a true statement regarding Gilgamesh and their rights as an employee? Gilgamesh can only be fired if the employee handbook says whistle-blowing is banned. O Gilgamesh cannot be fired for being a whistle blower due to the public policy exception. Gilgamesh cannot be fired due to the implied-contract exception. Gilgamesh can be fired for no reason under the employment-at-will doctrine O Gilgamesh cannot be fired due to the implied covenant of good faith and fair dealing exception
The true statement regarding Gilgamesh and their rights as an employee in this situation is: Gilgamesh cannot be fired for being a whistleblower due to the public policy exception.
The public policy exception protects employees from retaliation or termination when they report illegal activities or wrongdoing by their employers. In this case, Gilgamesh is reporting tax fraud, falsification of accounts, and a pyramid scheme, which are all illegal activities. Whistleblower protection laws are designed to encourage employees to come forward with information about illegal activities without fear of reprisal.
While employment-at-will is a common doctrine in many jurisdictions, it does not override the public policy exception when it comes to protected whistleblowing activities. The implied-contract exception and the implied covenant of good faith and fair dealing exception may provide some additional protection in certain situations, but the public policy exception specifically addresses protection for whistleblowers reporting illegal activities.
Therefore, Gilgamesh cannot be fired for being a whistleblower due to the public policy exception.
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What is the responsibility of leadership under the ISO 9001:2015
Clause 5.1.
Clause 5.1 of ISO 9001: 2015 specifies the responsibility of leadership in ensuring the effectiveness of the quality management system (QMS) of an organization. Leadership is responsible for providing direction, purpose, and guidance to the QMS.
The main responsibilities of leadership are:
Making sure that the QMS is aligned with the strategic direction of the organization and its contextEnsuring that customer and stakeholder needs and expectations are understood, communicated, and addressed in the QMSEstablishing and communicating the QMS policies, objectives, and performance indicators throughout the organizationProviding adequate resources, including personnel, infrastructure, and finances, to support the QMSMonitoring and reviewing the QMS's performance and effectiveness, identifying opportunities for improvement, and implementing corrective actions as necessaryPromoting a culture of continual improvement and quality awareness throughout the organization, including providing adequate training and support to all employeesLeadership is also responsible for ensuring that the QMS is integrated with the organization's business processes, and for promoting quality values and principles throughout the organization.To know more about leadership visit:
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Suppose demand for ice cream is Qp = -P+15 supply is Qs P-5 Suppose that pollutants are generated in the ice cream plant, resulting in an external cost of 2 per unit. At this time, plot the social supply curve.
Given the demand for ice cream, Qp = -P + 15, and the supply of ice cream, Qs = P - 5, with an external cost of 2 per unit due to pollutants generated in the ice cream plant, we can plot the social supply curve.
The social supply curve takes into account the external cost associated with the production of ice cream. In this case, the external cost is 2 per unit due to pollutants generated in the ice cream plant. To plot the social supply curve, we need to adjust the supply curve by including the external cost.
The social supply curve represents the true cost of producing ice cream, including both the private cost and the external cost. In this scenario, the private cost is represented by the original supply curve, Qs = P - 5. To incorporate the external cost, we add the external cost of 2 per unit to the private cost. Therefore, the social supply curve would be Qs + 2 = P - 5 + 2, which simplifies to Qs + 2 = P - 3.
By plotting the social supply curve, we can visually represent the true cost of producing ice cream, accounting for the external cost associated with pollutants. The social supply curve will be parallel to the original supply curve but shifted upward by 2 units.
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Explain following terms with examples.
(a) Lead users
(b) Customer Adaptiveness
(c) Product Champion
(d) Brand Performance
(e) Service Recovery
(1) Undershot customers
(g) Overshot customers
(i) What is Relationship Marketing? Explain the drivers of relationship marketing
effectiveness in detail.
(ii) Ramsa Corporation is in the business of manufacturing engineering plastics
(pellets) for automobile bumpers in Punjab. In order to enter Gujarat, how
should the company go ahead with channel designing?
(a) Lead users: Lead users refers to those customers who use a product or service in a unique way or to fulfill a unique need, or those customers who are ahead of the trends in using a product or service.
Relationship Marketing: Relationship marketing is a strategy that focuses on building long-term relationships with customers through personalized communication, engagement, and customer service. The goal of relationship marketing is to create loyal customers who will continue to do business with a company over time and recommend it to others.
Customer Knowledge: Companies must understand their customers' needs, preferences, and behaviors in order to provide personalized communication and engagement. Communication: Companies must communicate with their customers in a way that is relevant and personalized, using channels such as email, social media, and direct mail.
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Meeting Up: Two old friends plan to meet at a conference in San Francisco, and they agree to meet by "the tower." After arriving in town, each realizes that there are two natural choices: Sutro Tower Coit. Not having cell phones, each must choose independently which tower to go to. Each player prefers meeting up not meeting up, and neither cares where this would happen. Model this as a normal form game and write down the matrix form of the game
The matrix form of the game can be represented as follows:
| Sutro Tower | Coit Tower |
-------------------------------------
Sutro Tower | 0, 0 | 1, -1 |
-------------------------------------
Coit Tower | -1, 1 | 0, 0 |
In this game, each player has two choices: to go to Sutro Tower or to go to Coit Tower. The payoff values in the matrix represent the preferences of the players.
In the matrix:
The rows represent Player 1's choices.The columns represent Player 2's choices.Each entry in the matrix represents the payoff for Player 1 and Player 2, respectively.
In this case:
If both players choose Sutro Tower, they receive a payoff of 0 each, as they meet up and fulfill their preference.If Player 1 chooses Sutro Tower and Player 2 chooses Coit Tower, Player 1 receives a payoff of 1 (meeting up), and Player 2 receives a payoff of -1 (not meeting up).If Player 1 chooses Coit Tower and Player 2 chooses Sutro Tower, Player 1 receives a payoff of -1 (not meeting up), and Player 2 receives a payoff of 1 (meeting up).If both players choose Coit Tower, they receive a payoff of 0 each, as they meet up and fulfill their preference.The matrix form of the game clearly represents the payoffs for each possible combination of choices, reflecting the preferences of the players.
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During an inflation Republicans would be most in favor of: O spending cuts. O tax increases. tax cuts. . O spending increases.
Republicans would often support spending reductions as a way to battle price increases and stabilize the economy during inflation for tax.
Republicans frequently support spending reductions as a way to reduce rising prices and maintain economic control during periods of inflation. Their worldview supports fiscal conservatism, which emphasises lowering government spending to lessen the effect on the private sector and keep a balanced budget, as well as limited government intervention.
Republicans want to lower government spending and the demand for goods and services, which can mitigate inflationary pressures. To do this, they will enact budget cuts. They contend that excessive government expenditure can cause inflation via overstimulation of the money supply, which raises prices.
Republicans may also favour tax cuts as a way to boost economic expansion and offer relief to people and businesses, but they often favour expenditure cuts.
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A) Calculate the cost of the proposed building. Proposed building GFA 550 m2 = Cost/m2 = ? Index = 215 Analyzed building GFA = 450 m2 Cost/m2 OMR 1,500 H Index 200 H (5 m
To calculate the cost of the proposed building, we can use the index method. Here are the steps:
1. Calculate the cost per square meter for the analyzed building:
Cost per square meter = Cost/m2 OMR 1,500
2. Calculate the cost index for the analyzed building:
Cost index = Cost per square meter / Index = OMR 1,500 / 200 = OMR 7.50 per index unit
3. Calculate the cost index for the proposed building:
Cost index for proposed building = Cost index for analyzed building * (Proposed building GFA / Analyzed building GFA)
Cost index for proposed building = OMR 7.50 * (550 m2 / 450 m2) = OMR 9.17 per index unit
4. Calculate the cost per square meter for the proposed building:
Cost per square meter for proposed building = Cost index for proposed building * Index = OMR 9.17 * 215 = OMR 1,972.55
Therefore, the estimated cost per square meter for the proposed building is OMR 1,972.55.
Please note that this calculation is based on the given information and the index method. The actual cost may vary depending on various factors such as design complexity, materials used, location, and other project-specific considerations.
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The economy of country A has two sectors: wheat-growing, and flour-making.
In 2015, the wheat growers paid their workers a total of $300 and produced a total of 500 kg of wheat. They sold 100kg directly to consumers, and 400 kg to the flour mills. The selling price for 1 kg of wheat was $1.5.
The same year, flour producing firms paid their workers $350. They produced 350kg of flour: 300kg were sold on the local market, and 50kg were shipped abroad as exports. The selling price for 1 kg of flour is $4.
Compute the GDP for country A in 2015
The GDP for country A in 2015 is $1150.
GDP (Gross Domestic Product) is defined as the total value of all final goods and services produced within a country's borders over a certain period. It is calculated as the sum of consumption, investment, government spending, and net exports in an economy. In 2015, the economy of country
Thus, the GDP for country A in 2015 is as follows: Value-added by wheat growers = Total revenue - Cost of inputs= (400 kg x $1.5/kg) - $300= $600Value-added by flour producers = Total revenue - Cost of inputs= (300 kg x $4/kg) - $350= $550Total GDP of country A in 2015= Value-added by wheat growers + Value-added by flour producers= $600 + $550= $1150.
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Discuss the role of asymmetric information in explaining financial intermediation. (15 marks) (b) Consider the role of liquidity insurance provision (Diamond and Dybvig) in explaining financial intermediation. (10 marks)
Asymmetric information refers to a situation where one party in a transaction has more information than the other party.
In the context of financial intermediation, it is relevant because financial intermediaries collect information from borrowers and then share this information with lenders. This reduces the problem of asymmetric information in lending.The role of financial intermediation is to bring savers and borrowers together. Financial intermediaries pool funds from savers and lend them to borrowers. This intermediation is necessary because savers may not have the expertise to evaluate investment opportunities, while borrowers may not have access to the capital they need to finance their investments.Financial intermediaries reduce the costs of transactions by providing liquidity insurance to depositors and borrowers. Liquidity insurance protects depositors and borrowers from liquidity risk. This is the risk that an investor may need to withdraw their funds before the investment matures, and they may not be able to do so. By providing liquidity insurance, financial intermediaries help to mitigate this risk.Furthermore, the financial intermediaries mitigate adverse selection, which occurs when those who are more likely to default are more likely to seek loans than those who are less likely to default. In Diamond and Dybvig's model, the financial intermediary provides depositors with a liquidity guarantee and holds a portfolio of risky assets that earn a higher rate of return. The financial intermediary reduces adverse selection by providing a liquidity guarantee that is attractive to depositors. This, in turn, reduces the cost of capital to the borrowers.In conclusion, financial intermediation plays an important role in reducing the problem of asymmetric information in lending. It does so by pooling funds from savers and lending them to borrowers. Financial intermediaries also provide liquidity insurance to depositors and borrowers, which helps to mitigate liquidity risk. Diamond and Dybvig's model demonstrates how financial intermediaries can mitigate adverse selection by providing liquidity guarantees that are attractive to depositors. Overall, the role of financial intermediation is essential in providing a more efficient allocation of capital and reducing the cost of capital for borrowers.
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What if the government is in dire fiscal need and decides to increase the growth rate of money supply to 100%, holding all other variables constant (which is unlikely to hold in real life, but let's not overcomplicate things). With this inflation rate, how much revenue is raised from inflation tax as a share of GDP? With this kind of inflation rate, is inflation tax a significant source of revenue for the government? If the government has no access to other sources of revenue (taxes or borrowing), do you think increasing money supply is a sensible strategy to follow?
No, increasing the money supply to 100% and relying solely on inflation tax is not a sensible strategy for a government in dire fiscal need. Such a drastic increase in the money supply can lead to hyperinflation, erode the value of money, and create economic instability.
Is increasing the money supply to 100% and relying on inflation tax a sensible strategy for a government in dire fiscal need?If the government decides to increase the growth rate of the money supply to 100% in a scenario where all other variables are held constant, it would lead to a high inflation rate.
The inflation tax refers to the revenue generated by the government through the decrease in the real value of money held by individuals due to inflation.
The exact amount of revenue raised from the inflation tax as a share of GDP would depend on various factors such as the overall size of the economy and the inflation rate.
With a 100% inflation rate, the inflation tax could potentially become a significant source of revenue for the government. However, relying solely on the inflation tax as a revenue source is not a sustainable or desirable long-term strategy.
High inflation can have detrimental effects on the economy, including eroding the purchasing power of individuals, distorting price signals, and creating economic instability.
In the absence of other sources of revenue, increasing the money supply excessively to rely on inflation tax is not a sensible strategy. It may lead to hyperinflation, causing economic turmoil, loss of confidence in the currency, and negative impacts on businesses and households.
Governments should focus on implementing sound fiscal policies, including proper taxation and responsible borrowing, to maintain fiscal stability and avoid excessive reliance on inflation tax.
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Design a piece of qualitative marketing research that will help the company achieve this goal. Your design should be in the form of a plan, which includes the following headings: 1. Research objectives; 2. sampling approach;3 Data collection (include a maximum of three methods of data collection); 4. Data analysis and 5. Possible limitations of your research design (including any ethical considerations). You must justify your proposed research design with reference to relevant literature.
Research objectives are important when designing a qualitative research. This is because the researcher should have clear objectives for carrying out the research. The objective of the research is to understand the factors that will influence customers to buy the product. The objectives of the research To identify the main factors that influence customer behavior.
To identify the main motivations for purchasing the product. To identify the main channels used by customers to purchase the product. approach is an important part of the research design. In this case, the sampling approach will be a non-probability approach. This is because the sample size will be small and will be selected based on the availability of customers in the market. The sample will be selected from a specific geographic location where the product is being marketed. The sample will include both males and females aged between 18-50 years. collection methods interviews with customers.
The interviews will be conducted face-to-face to ensure that the researcher is able to observe the customers' body language. The interviews will be recorded to ensure that all the information is captured. Observation of customer behavior. This will be done by observing the customers while they are making their purchase. The researcher will observe the customers' body language and facial expressions to understand their behavior. Survey. A survey will be conducted to gather quantitative data on the factors that influence customer behavior. Data analysis: The data collected from the research will be analyzed using thematic analysis. This is because the research is qualitative in nature. The researcher will identify themes that emerge from the data and use these to draw conclusions about the factors that influence customer behavior. Possible limitations of your research design: There are several limitations to this research design, including: Small sample size. The sample size for this research will be small, which may not be representative of the entire population. This may limit the generalizability of the findings. Time constraints. The research will be conducted within a limited time period, which may limit the amount of data that can be collected. Ethical considerations. The research will involve human participants, which raises ethical considerations. The researcher will ensure that all participants are fully informed about the research and will obtain informed consent before conducting the research. The researcher will also ensure that all data is kept confidential and anonymous.
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2. a) What are the key lessons from the step "Define Your Core"? Give Examples. How does preparing a "Competitive Positioning Chart" allows you to benefit in your journey. Give examples. b) While designing business model, what are the key considerations an entrepreneur must take? Explain and Give EXAMPLES of each of the ‘Business Models" option mentioned in the Disciplined Entrepreneurship book.
a) Key lessons from the step "Define Your Core": The Define Your Core is the initial step in the Disciplined Entrepreneurship framework. It involves defining the goals, target market, and value proposition. Below are the key lessons from this step:
1. Clearly identify your target market and what unique value proposition will meet their unmet needs.
2. Conduct market research to understand your target market better.
3. Make your product or service more accessible and beneficial to your target market.
4. Create a positioning chart to determine your competitive advantage in the market.
Preparing a "Competitive Positioning Chart" allows you to benefit in your journey in the following ways:
1. It helps you identify your position in the market and how you compare to your competitors.
2. It highlights areas where you can improve your product or service to be more competitive.
3. It shows how you can differentiate yourself from your competitors by offering something unique and valuable.
Example of Competitive Positioning Chart:
b) Key considerations an entrepreneur must take while designing a business model:
Designing a business model requires careful consideration and planning. Below are some key considerations an entrepreneur must take while designing a business model:
1. Target Market: Identify the target market and understand their needs.
2. Revenue Stream: Choose a revenue stream that is aligned with your target market and business model.
3. Cost Structure: Develop a cost structure that is appropriate for your business model.
4. Key Resources: Identify and acquire the necessary resources to support your business model.5. Partnerships: Identify and establish strategic partnerships to enhance your business model.
The Disciplined Entrepreneurship book mentions the following business models:
1. High Margin, Niche Model2. Subscription Model3. Standard Model4. Freemium Model5. Razor and Blade Model
6. Platform Model
Example of Business Models:
a) High Margin, Niche Model: This model focuses on a small market segment but generates high profits. For instance, high-end watches and luxury cars.
b) Subscription Model: This model involves charging customers a recurring fee for access to a product or service.
c) Standard Model: This model involves selling products or services at a fixed price.
d) Freemium Model: This model offers a basic version of the product or service for free and charges for additional features.
e) Razor and Blade Model: This model involves selling a product at a low price and making a profit from selling complementary products. For example, printers and ink cartridges.
f) Platform Model: This model involves creating a platform where buyers and sellers can interact and trade.
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