Frictional unemployment exists in an economy because It arises because it takes time for an unemployed worker to find a firm with a well-matched job vacancy. The correct answer is option(b).
Frictional unemployment is a form of inaction reflecting the breach between dignitaries voluntarily leaving a task and judgment of another. As such, it is frequently called search inaction, though it includes of a breach in business when changing from one task to another.
Frictional unemployment is the result of willing employment changes inside frugality. Frictional unemployment happens in an increasing, resistant economy. Frictional unemployment exists in an economy because It arises because it takes time for an unemployed worker to find a firm with a well-matched job vacancy.
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when deciding whether to fly or take the train on a trip, the cost of putting your pet in a boarding facility while you are away is a(n) blank cost.
When deciding whether to fly or take the train on a trip, the cost of putting your pet in a boarding facility while you are away is an irrelevant cost.
Costs that would not be impacted by a management decision are irrelevant costs, whether they are positive or negative. Therefore, when that decision is made, irrelevant costs like sunk costs and fixed overhead are disregarded. To potentially save the company, a manager must have the ability to recognize an unnecessary expense.
Managers who are deciding on the profitability of various options can find it useful to categorize costs as irrelevant or relevant. The decision-making process is unaffected by costs that remain constant regardless of the alternative chosen.
It's crucial to formally define and record costs that should be disregarded when making decisions because one management decision may consider an irrelevant cost to be relevant.
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dr. juran's 85/15 rule holds that at least 85% of an organization's problems would be eliminated if employees did their jobs correctly.
Yes this opinion is correct Dr. juran's 85/15 rule holds that at least 85% of an organization's problems would be eliminated
What is 85/15 rule?Many people hold the opinion that if employees did their tasks properly, an organisation would have few, if any, difficulties. This belief is false, as Dr. Joseph M. Juran showed out years ago.
In actuality, enhancing work processes rather than hiring new personnel has the greatest potential to reduce mistakes and errors.
The observation has developed into a generalisation that at least 85% of issues can only be resolved by changing systems (which are largely decided by management) and that less than 15% of issues are within the control of an individual employee, with a possible further skewed ratio in favour of the system.
What Is Rule Management About?Today, a lot of businesses are starting to recognise that they have a Rule Management issue. Frequently, the perception wasn't always that way. Instead, it might have initially been classified under another heading like "change management," "data quality," "knowledge retention," "communication gap," or something similar. However, the fundamental issue remained the same, namely that the business logic units (also known as business rules) that the organisation wishes to adhere to in its daily operations are not being handled in a logical, consistent way.
The infrastructure required to solve that issue will be provided by rule management. Naturally, this assumes that rules can be managed.
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describes those areas of a business that are unique or unusual as compared to standard practices of the industry
Answer:
There are many ways to different ways to differentiate a business from others.
1. finding unique startup ideas
2. selecting a unique name for business
3. providing customized services,
Explanation:
Every firm needs to make its own identity and stand out from the competition only then it can create its image and brand .though it is easier to start a business that is popular it comes with high competition,
for instance, the first cry is the first firm to come up with a store dedicated to infants and children.t
having a unique idea isn't enough it is important to choose a unique name that can easily get registered.providing unique and customaizeed services would help in attracting customers easily.
to determine what industry you are competing in, you should select one: a. look at the industry of your direct competitors b. look up the north american industry classification system (naics) code c. consider your direct competition as well as substitutes for your offering d. determine the size and growth rate of your market
To determine what industry you are competing in, you should look at the industry of your direct competitors.
Industry competition consists of agencies that promote a similar service or product. So if you're beginning an online clothing keep, your industry is virtual retail and your competitors are different online clothing companies.
An aggressive evaluation has to examine your competitors' capabilities, market share, pricing, advertising and marketing, differentiators, strengths, weaknesses, geography, lifestyle and purchaser reviews.
The larger the number of competitors, along with the number of equivalent products and services they offer, the lesser the power of a company.
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when designing cross-platform experiences, which platform should you focus on first when you build a new product?
When designing cross-platform experiences, the platform you should focus on first when you build a new product is one those users engage with items including websites, mobile applications, and physical objects.
Since then, there has been a significant shift toward mobile-first product design, as is well known. Since the success of your company ultimately affects your ability to draw and keep people with an app, conventional wisdom today tells us that it is nearly always advisable to start with mobile.
Cross-platform design is the process of translating a certain product design across various platforms. This accomplishes the goal of reaching the target consumers of various devices. The Cross-Platform Experience Award honors projects that integrate many platforms, making the most use of each one's advantages to provide a whole that is more than the sum of its parts.
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when a company goes public the early investors (the first people who lent/invested in the company) typically?
A company goes public the early investors (the first people who lent/invested in the company) typically is called Angel or seed investors.
Angel or seed traders take part in organizations which can be so early-level they will be pre-sales with few to no clients at all. They should in reality have a well-evolved enterprise plan, prototype, beta test, minimal feasible product (MVP), or be at a comparable stage of development. The cash from the massive traders flows into the business enterprise's financial institution account, and the massive traders begin promoting their stocks at the general public exchange. All the buying and selling that takes place at the inventory marketplace after the IPO is among traders; the business enterprise receives none of that cash directly.
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When the fed extends a $100 discount loan to the first national bank, reserves in the banking system.
When the fed extends a $100 discount loan to the first national bank, reserves in the banking system it increase by $100.
A financial institution is a economic group that accepts deposits from the general public and creates a demand deposit while simultaneously making loans.[1] Lending activities can be without delay finished through the bank or circuitously through capital markets. Because banks play an critical function in economic balance and the financial system of a rustic, maximum jurisdictions exercise a excessive diploma of regulation over banks. Most international locations have institutionalised a machine referred to as fractional reserve banking, underneath which banks maintain liquid assets identical to only a component in their contemporary liabilities. Similarly to different regulations supposed to ensure liquidity, banks are typically situation to minimum capital necessities primarily based on an international set of capital standards, the Basel Accords.
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shelly is a student who has received an academic scholarship to the university. the scholarship paid $4,000 for tuition, $500 for fees, and $400 for books. what amount must shelly include in her gross income?
If Shelly is a student who has received an academic scholarship that paid $4,000 for tuition, $500 for fees, and $400 for books, no amount must be added to her gross income.
Scholarships that cover eligible educational costs at eligible educational institutions are often exempt from taxation. The sum of an individual's income before taxes or other reductions is their gross income, which is sometimes referred to as their gross pay on a paycheck.
This covers earnings from all sources, not only work, and is not restricted to earnings in cash; it also covers earnings from the receipt of goods or services. For businesses, the terms gross income, gross margin, and gross profit are equivalent.
On the income statement, a company's gross income is calculated as total revenue less the cost of goods sold (COGS).
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an example of a highly cyclical industry is . a. the automobile industry b. the tobacco industry c. the food industry d. a and b e. b and c
An example of a highly cyclical industry is automobile industry .
What is automobile industry?
Due to its high cyclicality, the automobile sector typically has high sales while the economy is booming whereas sales normally decline when the economy is in a slump (let alone recessions). There is a very strong link between industrial sales and GDP.What types of vehicle industries exist?
Automobile manufacturers and producers of car parts are the two types of businesses in the automotive sector.
What does the word "automobile" mean?
The term "automobile," often known as "motorcar" or "car," refers to a typically four-wheeled vehicle that is primarily intended for passenger transportation and is frequently powered by an internal combustion engine that burns a volatile fuel.
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which trend in the field of coaching discusses how od organizations are now including coaching sessions as part of their annual conferences?
An organization's capability is improved through organization development (OD), which aims to match strategy, structure, people, rewards, metrics, and management procedures.
What is OD organization?Oversees the strategies and procedures for organizational development (OD). evaluates the operational, business, and functional units' OD requirements. oversees the creation, development, and application of policies, strategies, and programs that are specifically suited to the demands of OD and programs objectives.
Through organizational growth, a business can continuously enhance its operations and products. OD contributes to increased efficiency by assisting in strategic decision-making across all of the organization's activities. With the same or lower amounts of inputs, this typically results in superior outcomes.
The goal of organizational development (OD) is to balance a company's strengths and weaknesses by reorganizing how its resources—namely, its human capital—are used in order to use them most effectively and profitably.
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at abels enterprises, a manufacturer of outdoor furniture, one worker assembles the frames for the chairs and then passes them on to a second worker. this worker fastens the cushions before passing the chairs on to a third worker, who wraps the chairs for shipment to customers. this is an example of _____________ interdependence.
One worker at abels enterprises assembles the chair frames before passing them on to a second worker. This employee secures the cushions before handing the chairs over to a third employee, demonstrating sequential interdependence.
What is sequential interdependence?Sequential interdependence happens when one department or team must complete a task before another can perform theirs, akin to the concept of an assembly line.
A product must be fully built before wrapping and wrapped again before shipping. Skipping a step throws the entire operation off track.
Therefore, in the given case, the one worker assembles the chair frames before handing them on to a second worker. This worker secures the cushions before handing the chairs to a third worker, demonstrating sequential interdependence.
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macy's advertising campaign objective was to attract women to its spring collection of clothing. the company placed ads during the academy awards because research showed that the telecast is viewed primarily by women. since women are not the only viewers of the television event, macy's paid for the audience.multiple choice question.
Since women are not the only viewers of the television event, Macy's paid for the whole audience.
A group of listeners or viewers. The concert gathered a large audience. : Read, watch, and listen publicly.
This film is aimed at a younger audience. November 6, 2022, Some common examples of audiences in literature could be children, teenagers, or adults. For example, Boxcar Children was written for children, The Hunger Games was written for teenagers, and Broken Earth was written for adults. Your audience is the person you want to connect with. The more you know about them (their wants, needs, values, etc.), the better you can structure your message so you get it the way they intended.Learn more about the audience here: https://brainly.com/question/27326303
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kinko's a nationwide copy center, has numerous locations and managers have limited personal interaction. this is an example of:
Kinko's a nationwide copy center, has numerous locations, and managers have limited personal interaction. This is an example of a neutralizer.
Assigning responsibilities to individuals or work groups, letting subordinates know what is expected of them, determining how paintings should be performed, making schedules, encouraging adherence to regulations and guidelines, and motivating subordinates to do an amazing process are all examples of initiating structure.
The course purpose concept of management states that a pacesetter's developments and behaviors can without delay affect the satisfaction, motivation, and overall performance of their crew contributors. In other phrases, how successful a leader is can be determined by using their potential to promote the contentment, dreams, and abilities of their subordinates.
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Eight years ago, ian invested in rayje clothiers. he purchased five par value $1,000 bonds issued by rayje clothiers at a market value of 94.956, each of which yields interest of 7.5%. ian also bought 250 shares of rayje clothiers stock at $17.22 apiece. bonds from rayje clothiers yield interest of 7.5%, and stock from rayje clothiers yields dividends of $1.09 yearly. today, rayje clothiers bonds have a market value of 108.224 and rayje clothiers stock sells for $19.96 per share. if ian liquidates his portfolio and sells off all of his investments, which aspect of his investment in rayje clothiers will yield the greater total profit, and how much greater will it be? a. the bonds yielded $820.00 more in profits than the stocks. b. the bonds yielded $798.40 more in profits than the stocks. c. the stocks yielded $21.60 more in profits than the bonds. d. the stocks yielded $242.20 more in profits than the bonds.
The bonds yielded $798.40 more in profits than the stocks.
What is the largest difference in stocks and bonds?Stocks and bonds differ most significantly in terms of risk and possible return. In general, stocks have historically provided greater returns than bonds, but they also carry a higher risk. With stocks, you might stand to lose more money as well as make more.State and municipal taxes are often not levied on the interest income on bonds issued by the federal government and its agencies, including Treasury securities.Immediately removes a portion of the investment bond from the Estate. After seven years, the remainder of the investment is no longer subject to inheritance tax and you must begin taking an income. As the loan is repaid, which happens at a rate of about 5% annually, the investment bond is removed from the Estate.To learn more about stocks and bonds refer to:
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for a consumer goods company seeking to reduce the distance to u.s. population from a single location using a center-of-gravity approach, which city would offer the best choice for this facility?
Cincinnati, Ohio would be the greatest location for this plant for a consumer goods corporation looking to reduce the distance to the US population from a single location employing a center-of-gravity technique.
The center-of-gravity method
The Center-of-Gravity Approach is a supply chain planning technique for placing distribution centres about where the minimal transportation costs between the factories, the distribution centres, and the markets are to be found. It is a method of mathematical optimization that reduces the overall cost of meeting a given collection of demand points.
The Center-of-Gravity Approach's fundamental tenet is that a distribution centre should be situated as close as feasible to the demand points it serves while still staying within the parameters of reasonable transportation costs.
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A firm evaluates all of its projects by applying the irr rule. If the required return is 11 percent, should the firm accept the following project?.
The project should be rejected, Since the IRR is less than the required return, we would reject the project.
How to calculate?
The IRR is the interest rate that makes the NPV of the project equal to zero. So, the equation that defines the IRR for this project is:
0 = -$27,200 + $11,200 / (1 + IRR) + $14,200 / (1 + IRR)2 + $10,200 / (1 + IRR)3
Using a spreadsheet, financial calculator, or trial and error to find the root of the equation, we find that:
IRR = 14.96%
Since the IRR is less than the required return, we would reject the project.
CFO -$27,200
C01 $11,200
F01 1
C02 $14,200
F02 1
C03 $10,200
F03 1
IRR CPT
14.96%
So the project should be rejected.
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On april 1, 2022, aggie company borrowed $120,000 on a bank note for 7 months. The bank discounted the note at 4%. The entry to record the payment of this note on october 31, 2022 would include a?.
$8400 will be recorded as the entry of cost of interest .
What is a cost of interest?
Interest expenditure is the cost a company pays for borrowing money. Interest expense in the income statement is a non-operating item. The term refers to the interest owed on all outstanding borrowings, including bonds, loans, convertible debt, and credit lines. In essence, it is determined by multiplying the interest rate by the debt's outstanding principal. Instead of the amount of interest paid over the reporting period, interest expense on the income statement shows interest accrued during that time. While interest costs are tax deductible for businesses, they may not be in the case of an individual, depending on their jurisdiction and the purpose of the loan.
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which of the following is not a strategy to manage service capacity or cope with service capacity limitations? multiple choice part-time workers storing inventories of the service hiring extra workers subcontracting pricing and promotion
Storing inventories of the service is not a strategy to manage service capacity or cope with service capacity limitations.
Capacity management refers to the technique organisations employ to maximise production efficiency in response to the market's total demand for a product or service. Its objectives include detecting and eliminating manufacturing process bottlenecks and increasing production speed by maximising existing resources and eliminating time and capacity restrictions.
It assists businesses in overcoming obstacles related to meeting short- and medium-term client demand, managing supply chain operations, and developing long-term organisational strategies. A company must examine the availability of its resources to guarantee that the production output is met within the allotted time frame. This strategy is prevalent in industrial, retail, service, and information technology industries.
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Ned is a typewriter repairman. As typewriters are being replaced by computers ned finds less and less work. What kind of unemployment is ned experiencing?.
Unemployment is a state of affairs where a person actively seeks employment but is unsuccessful in doing so.
What is unemployment ?A person who is unemployed, of working age (defined as 16 or older), able and available to work, and actively seeking employment is considered to be unemployed. This includes someone looking for work who is contacting contacts about openings or submitting applications.This definition of unemployment is rigorous and detailed; it goes beyond the simple phrase "everyone who is unemployed."On the other hand, someone who is employed is very simply someone who has a job. Work can range from full-time employment to part-time employment to self-employment.The "labor force," or that portion of the population that is able and eager to work, is made up of both employed and unemployed persons.Citizens who are not seeking employment, such as stay-at-home mothers, college students, or "discouraged workers," are not counted as part of the labor force (someone who has stopped looking for work because they believe no work is available).To Learn more About Unemployment Refer To:
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the plainbank has $29 million in cash and equivalents, $41 million in loans, and $35 million in core deposits. a. calculate the financing gap. b. calculate the financing requirement.
The gap financing of the plain bank is $6 million.
What is gap financing?The term "gap financing" is typically used in reference to real estate loans like bridge loans or mortgage loans. The gap between the floor loan and the maximum permanent loan committed is being financed using this interim loan. Gap finance, more technically, is temporary subordinated financing that is repaid after the first mortgagee pays all amounts due under the first mortgage loan. This is typical in a situation involving a permanent "floor-ceiling loan," where the borrower does not satisfy a rent-roll requirement and the first mortgagee funds only a floor amount, agreeing to fund the remaining balance in the event the rent-roll requirement is satisfied within a specified time frame. In this instance, the construction lender is frequently the gap lender.
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Which of the following is a negative outcome of markets where sellers have market power? Higher prices An inefficiently large output Smaller economic profits Lower costs Question 16 (1 point) Which of the following conditions is present for all sellers in a perfectly competitive market? All sellers have an equal and high level of market power. The product price varies across the sellers. The number of sellers is small. All sellers are selling identical products. Question 17 (1 point) (Figure: MSB and Demand Curves 2) Use the graph to answer the question. Price $12 $8 $4 Marginal social benefit Demand 4 8 12 Quantity The graph shows the marginal social benefit and demand curves in the dog food market. What is the marginal private benefit when four bags of dog food are bought? $4 ООО $8 $12 $20 Question 18 (1 point) When the lawn care services market is characterized by positive externalities: too many lawn care services are produced. too few lawn care services are produced. ООО output is too high, and price is too low. output is too low, and price is too high.
The following is a negative outcome of markets where sellers have market power is option A. Higher prices
The following conditions is present for all sellers in a perfectly competitive market is option D. All sellers are selling identical products.
Using the graph to answer the question. Price $12 $8 $4 Marginal social benefit Demand 4 8 12 Quantity The graph shows the marginal social benefit and demand curves in the dog food market. The marginal private benefit when four bags of dog food are bought is $4
When the lawn care services market is characterized by positive externalities: too few lawn care services are produced.
What is a perfectly competitive market?In economics, particularly on general equilibrium theory, a perfect market, which is otherwise recognized as an atomistic market, is considered by several idealizing conditions, collectively referred to as perfect competition, or atomistic competition.
Therefore, the correct answer is as given above
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Mark lives in a state that charges him 6.1% income tax on his federal taxable income. if his federal taxable income is $79,400, how much does mark pay in state income tax? a. $5,280.15 b. $1,270.40 c. $4,045.66 d. $4,843.40 please select the best answer from the choices provided a b c d
The amount of state income tax that Mark has to pay is $4,843.40
What is income tax?The word "income tax" refers to a category of tax that governments levy on revenue produced by organizations and people under their control.Taxpayers are required by law to file an income tax return each year in order to establish their tax liabilities.Governments receive funding from income taxes. They are used to paying for debts owed to the government, fund public services, and supply residents with goods. Many states and municipal governments, in addition to the federal government, also demand payment of income tax.The amount of state income tax that Mark has to pay can be calculated with the following formula:⇒tax amount = (% income tax / 100) X total income
⇒In this case, Mark has a total income of $79,400, while the % income tax is 6.1%, therefore the total amount of tax that Mark has to pay is
⇒tax amount = (6.1 / 100) x $79,400 = $4,843.40
⇒Therefore, The amount of state income tax that Mark has to pay is $4,843.40
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Your store sales average $190,000 per month. Your triple net lease has the following monthly terms: rent is 5% of sales, insurance is $300, maintenance is $75, utilities total $300, and taxes are $120. You expect near year's sales to increase 5%, but your lease terms will remain the same. Calculate next year's annual lease payment.
Lease payments for the upcoming year equal $129,240
Step 1: Calculate the pay for the upcoming year
Since the sales salary will have increased by 7% the following year, we can predict the annual sales as illustrated;
F=P(1+R)
where;
F is the upcoming salary.
P is the current wage.
salary growth rate
In our scenario, F is an undefined, undetermined value.
P = 190,000 monthly
P = (190,000 x 12) = $2,280,000 per year
R=5%=5/100=0.05
replacing;
F=2,280,000(1+0.05)=$2,394,000
Identify the year's rent in step two.
Rent for the following year is equal to 0.05 x $2,394,000, or $119,700.
Step 3: Calculate the total annual taxes, insurance, maintenance, and utility costs.
Total equals annual insurance, annual maintenance, annual utility, and annual tax payments.
Total=(300×12)+(75×12)+(300×12)+(120×12)=$9,540
Step 4: Calculate the annual lease payments.
Annual lease payments equal the following year's rent plus annual taxes, insurance, maintenance, and utilities;
Rent for the following year will be $197,00
annual taxes + insurance + maintenance + utilities = $9,540
replacement; (119,700 + 9,540) = $129,240 for the upcoming year's lease payments
Lease payments for the upcoming year = $129,240
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which dimension of leadership is designed to show high regard for relationships for those who are willing to do the work but lack the knowledge or ability?
Dimension of leadership is designed to show high regard for relationships for those who are willing to do the work but lack the knowledge or ability. the chief in front, the chief from behind, the chief besides, the chief of the whole, and the chief inside.
Style 3 or a collaborating management style, is essentially specific from Styles 1 and a couple of in that it is “follower driven” as adversarial to “chief driven. ” As such, it depicts an method this is excessive on Relationship Behavior however low on Task Behavior.
They concluded that task-oriented, relations-oriented, change-oriented, and outside management function the 4 meta-classes of powerful management behavior, and inside the ones 4 classes, a complete of 15 sub-dimensions are contained.
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stock x has a variance of 1% (0.01) and stock y has a variance of 4% (0.04). what are their respective standard deviations?
Their respective standard deviations are x is 1%, y is 2%.
Standard deviation = Square root of variance
Standard Deviation =√variance
Stock X
Standard Deviation = √1%
=1%
Stock Y
Standard Deviation = √4%
=2%
There are kinds of widespread deviations: populace widespread deviation and pattern widespread deviation. Both degree the diploma of dispersion in a hard and fast. But at the same time as the populace calculates all of the values in an information set, the pattern widespread deviation calculates values in business which are most effective part of the whole information set.
Variance is a degree of the way information factors range from the mean. According to Layman, a variance is a degree of the way some distance a hard and fast of information (numbers) are unfold out from their mean (average) value. Variance way to discover the anticipated distinction of deviation from real value.
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what are the three kinds of utility created by operations and the characteristics that distinguish service operations from goods production.
The three kinds of utility created by operations and the characteristics that distinguish service operations from goods production are Form utility, Time utility and Place utility.
The whole level of satisfaction a person receives from using a specific good or service is known as economic utility. It enables one to measure the degree of fulfillment necessary to satisfy a certain need or desire.
In an effort to improve customer happiness, boost sales, and boost profits, businesses work to raise the utility or perceived worth of their goods and services. The field of study known as behavioral economics, which helps businesses run their operations and sell their brands to draw in the most clients and income, includes the concept of economic value.
There are four types of economic utility, which include form, time, place, and possession.
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a schedule of cost of goods manufactured includes all of the following costs except:______.
a. direct labor used
b. work in process inventory
c. finished goods inventory
d. actual factory overhead
e. factory overhead applied
f. direct materials used
All of the following costs—aside from actual plant overhead—are included in a schedule of the cost of items manufactured. As a result, preference (D) is the best way to respond.
What is the cost of goods sold?A company's cost of goods sold (COGS) is the total direct cost of manufacturing the products it sells. This total also includes the price of the materials and labor used directly to create the goods.
It excludes indirect costs like those incurred in connection with the sales team and delivery. The cost of goods sold is an essential financial statement metric since it is used to compute a company's gross profit, which is determined by subtracting COGS from earnings.
A measure of profitability known as "gross profit" evaluates how effectively a company uses its human capital and other assets during the manufacturing process.
Hence, option (D) is accurate.
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in the case where reina, an actress, breaches her film contract, the producers must leave the set and fly back to los angeles to hire a new actress. the travel cost in this scenario is:
In the case where reina, an actress, breaches her film contract, the producers must leave the set and fly back to los angeles to hire a new actress. the travel cost in this scenario is: incidental damage.
They're the general choice makers. Producers will give you story thoughts and rent writers or choose and relaxed rights to scripts. this is referred to as 'optioning' a script. They decide on the dimensions and finances of the movie and source financing from traders, studios and vendors.
A manufacturer is a person who creates and resources goods or offerings. producers integrate labor and capital—known as element inputs—to create—this is, to output—some thing else. enterprise firms are the primary examples of producers and are normally what economists have in thoughts while speaking approximately manufacturers.
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A similarity between monopoly and monopolistic competition is that in both market structures.
The similarity between monopoly and monopolistic competition is that in both market structures
strategic interaction between sellers is important. there are few sellers.sellers are more price makers than price takers.What is monopolistic competition?Monopolistic competition exists when many firms offer competing products or services that are similar but not perfect substitutes.
In monopolistic competition, entry barriers are low and the decisions of one firm do not directly affect its competitors. Competing companies differentiate themselves based on pricing and marketing decisions.
Between monopoly and perfect competition, monopolistic competition exists that combines elements of both and involves firms with similar but not identical product offerings.
Restaurants, hair salons, household goods and clothing are examples of monopolistic competition. Many competing companies sell, market and price products like dishwashing or hamburger.
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ralph opened a small shop selling bags of trail mix. the price of the mix is $5, and the market for trail mix is very competitive. at what quantity will ralph produce?
Ralph established a tiny store where he sold bags of trail mix. The mix costs $5, and there is fierce competition in the trail mix industry. Ralph makes 15 quantities.
What in economics are AC and MC?The additional expense incurred when one more unit of production is produced is known as the marginal cost (MC). The cost overall per output unit is known as the average product (AC). The AC falls off as the MC gets smaller.
Where do MC and AC come together?Because the marginal cost of producing the next unit of output always affects the average total cost, the marginal cost curve always intersects the average total cost curve at its lowest point. As a result, average total cost will decrease as long as marginal cost is lower than average total cost.
What form do the MC and AC curves take?In the long term, the MC and AC curves are both U-shaped cost curves. In comparison to the U-shape of the short-run curve MC curve, this U-shape is a little less flat. Long run MC and AC curves, or MC and AC curves, have a flatter shape. According to the law of varying proportions, this behavior is controlled.
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The correct question is:
Ralph opened a small shop selling bags of trail mix. The price of the mix is $5, and the market for trail mix is very competitive. Ralph€™s cost curves are shown in the figure below.
At what quantity will Ralph produce?
