The coffee shop manager should measure elasticity with the mid-point method because he will get the same information regardless of a fall or rise in price.
Why should the midpoint formula be used?When the midpoint formula is used to calculate elasticity, it calculates the elasticity using both price increases and decreases such that the base is the same.
This allows you to receive the same elasticity result of either price point that was used and so allows for more accurate analysis.
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What's your annual income if you're unemployed?
$46,819
Unemployed Salary
Annual Salary Hourly Wage
Top Earners $57,500 $28
75th Percentile $57,500 $28
Average $46,819 $23
25th Percentile $32,000 $15
The airlines sold fewer tickets to business travelers during the "Great Recession" due to more companies using video conferencing software to save money. According to the five forces model, this type of threat is called the
According to the five forces model, this type of threat is called the threat of substitute products.
What are the five forces model?The five forces model is used to analyse the competitiveness among firms in an industry. They are also referred to as the Porter's five forces.
One of the five forces is the threat of substitute products. If there are little or no substitutes for the goods produced by other companies, the greater the power the firms possesses. Video conferencing is an alternative to physical meetings.
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last year, high-tech electronics earned $2.00 per share. if a share of its stock is selling for $60, what is the firm's p-e ratio?
Based on the calculation done below, the firm's p-e ratio is 30.
How do we calculate the p-e ratio?The price-earning (p-e) ratio can be calculated using the following formula:
p-e ratio = MPS / EPS ............................................................. (1)
Where:
MPS = Market price per share = Share selling price = $60
EPS = Earning per share = $2.00
Substituting the values into equation (1), we have:
p-e ratio = $60 / $2.00 = 30
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which stage in a work-unit activity analysis focuses on the product, information, or service provided?
The stage in a work-unit activity analysis that focuses on the product, information, or service provided is the output phase, This is further explained below.
What is the output phase?Generally, the output phase is simply defined as manufacturing or output in general.
In conclusion, The final deliverable is defined. The method of measuring the output is investigated.
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Because the market sector features a few large and dominant competitors, the Big Tech marketplace best illustrates a condition where conditions of ___________ prevail:
Because the market sector features a few large and dominant competitors, the Big Tech marketplace best illustrates a condition where conditions of "Oligopoly" prevail.
What is an Oligopoly?A market structure known as an oligopoly occurs when two or more companies hold a large amount of market power. They have the power to control supply and prices when acting as a group. When the top 4 companies dominate 50% of a market, it is generally referred to as an oligopoly.
Some key features of Oligopoly are-
Few firms with large market share Oligopolistic firms maintain their position in the market by a number of high barriers to entry.Interdependence - An oligopolistic business will make decisions depending on how they anticipate rivals will respond.Each firm has little market power on its own - each firm has little market power, because other firms are quick to take advantage.Higher prices than in perfect competition - due to their combined market dominance, oligopolies frequently maintain higher pricing in order to generate greater profits.More efficient - Oligopolistic businesses profit from high market shares. They also profit from economies of scale, which allows for cheaper production.Learn more about market economy, here brainly.com/question/25265598
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It took podcasts about 8 years to reach 1 billion downloads
True or False
When an organization evaluates people based on the economic or productive potential of their knowledge, experience, and actions, the organization is viewing them as ______.
When an organization evaluates people based on the economic or productive potential of their knowledge, experience, and actions, the organization is viewing them as human capital.
What is human capital organization?Human capital is referred to as an intangible asset for any firm but is absent from the balance sheet of a corporation. Human capital, which includes an employee's education, health, intelligence, punctuality, values, ethics, corporate citizenship, and loyalty, is the economic value of their knowledge, abilities, and experience.
Thus, it is human capital.
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Tristan has found a good job as a bookkeeping clerk after finishing his associates degree at the local community college. He is making a beginning annual salary of $19,760. How can this increased income affect his financial decisions
An increase in the total income may lead to changes in Tristan's financial decisions in positive as well as negative ways.
What are financial decisions?A plan or a strategy which is backed by strong logic of an individual to distribute his or her income in different forms of investments, expenses, and savings, are known as financial decisions.
When Tristan gets an increase in his income, his financial decisions may, change in a way that he may start investments and save for future goals. He may also start spending on luxuries, which he otherwise, could not afford to.
Hence, the significance of an increase in income on the financial decisions of Tristan is aforementioned.
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It is impossible to reduce your fixed expenses true or false?
Answer:
True
Explanation:
g In order to increase the responsiveness of a forecast made using the moving average technique, the number of data points in the average should be:
In order to increase the responsiveness of a forecast made using the moving average technique, the number of data points in the average should be: A. decreased
What is a Forecast?This refers to the prediction about a particular thing that is to occur in the future based on available data or inference.
Hence, we can see that based on the use of the moving average technique when increasing the responsiveness of a forecast, there must be a decrease in the average of the data points because fewer data points result in more responsive moving averages.
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companies using _____ revenue model charge a fee based on the value of the service provided on the web.
Companies using fee-for-service revenue model charge a fee based on the value of the service provided on the web.
What is service charge?Service charge is certain amount of money paid by an individual for a service rendered.
The amount is paid based on the charge pose on the individual.
Therefore, companies using fee-for-service revenue model charge a fee based on the value of the service provided on the web.
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What are the legal requirements owners should fulfill before forming a corporation
The legal requirements that owners should fulfill before forming a corporation are:
Owners should meet the state statutory needs. Owners should register the name and articles of incorporation.What is a Business Corporation?This refers to the business structure that operates as a separate entity that has shareholders and board of directors.
Hence, we can see that based on the legal requirements of starting a business corporation, the need to meet the state statutory needs and also register the name and article of the incorporation.
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Keynesian economics argues for the use of _____ policy to stabilize the economy.
Answer:
Keynesian economics argues for the use of active government policy to stabilize the economy.
Explanation:
In order to alleviate or avert economic recessions, Keynesian economics places a strong emphasis on the employment of proactive government policy to control aggregate demand. Keynes contended that lengthy periods of high unemployment might result from a lack of general demand. Consumption, investment, government purchases, and net exports are the aggregate of four factors that determine an economy's amount of goods and services.
To determine the efficiency of a batch of production of electric motors, 8 motors are tested. The average efficiency of the sample is calculated to be 88.5% and the standard deviation of the sample is 0.5 percentage point. (a) Determine a 95% confidence interval for the mean efficiency of the given batch of motors. (b) If we want to cut the confidence interval to one third, how many more motors should be tested
The 95% confidence interval for the mean efficiency of the given batch of motors is 0.885 [tex]\pm[/tex] 0.418 and 41 motors should be tested to cut the confidence interval to one-third
The 95% confidence intervalThe given parameters are:
Mean, [tex]\mu[/tex] = 88.5%Standard deviation, [tex]\sigma[/tex] = 0.5Sample size, n = 8Here, n is less than 30.
So, we use the t-score
At 95% confidence interval and n = 8, the t-score is:
t = 2.365
So, we have:
[tex]CI = \mu \pm t\frac{\sigma}{\sqrt n}[/tex]
So, we have:
[tex]CI = 88.5\% \pm 2.365 * \frac{0.5}{\sqrt {8}}[/tex]
[tex]CI = 88.5\% \pm \frac{1.1825}{\sqrt(8)}[/tex]
Evaluate the quotient
CI = 88.5% [tex]\pm[/tex] 0.418
Express percentage as decimal
CI = 0.885 [tex]\pm[/tex] 0.418
Hence, the 95% confidence interval for the mean efficiency of the given batch of motors is 0.885 [tex]\pm[/tex] 0.418
The number of motors to be testedWhen the interval is cut into one third, we have:
[tex]CI = \frac 13 * (0.885 \pm 0.418)[/tex]
Evaluate
[tex]CI = (0.885 \pm \frac 13 *0.418)[/tex]
[tex]CI = (0.885 \pm 0.139)[/tex]
Recall that:
[tex]CI = \mu \pm t\frac{\sigma}{\sqrt n}[/tex] or [tex]CI = \mu \pm z\frac{\sigma}{\sqrt n}[/tex]
Here, we use the z-score i.e.
[tex]CI = \mu \pm z\frac{\sigma}{\sqrt n}[/tex]
By comparison, we have:
[tex]z\frac{\sigma}{\sqrt n} = 0.139[/tex]
Substitute [tex]\sigma[/tex] = 0.5 and z = 1.960
[tex]1.96 * \frac{0.5}{\sqrt n} = 0.139[/tex]
Evaluate the product
[tex]\frac{0.98}{\sqrt n} = 0.139[/tex]
Solve for [tex]\sqrt n[/tex]
[tex]\sqrt n = \frac{0.98}{0.139}[/tex]
Evaluate the quotient
[tex]\sqrt n = 7.1[/tex]
Square both sides
n = 49
The initial sample size is 8.
Subtract 8 from 49
Difference = 49 - 8
Difference = 41
Hence, 41 motors should be tested to cut the confidence interval to one-third
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Because successive units of a good produce less and less additional satisfaction, the price must fall to encourage a buyer to purchase more units of the good. This statement is most consistent with which explanation for the law of demand? Multiple Choice diminishing marginal utility the rationing function of prices the income effect the substitution effect
The above statement is most consistent with the diminishing marginal utility.
What is diminishing marginal utility?Diminishing marginal utility refers to the decline in additional satisfaction derived from the consumption of more and more units of goods.
Hence, the above statement is most consistent with the diminishing marginal utility.
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when the money market is drawn with the value of money on the vertical axis, if money demand shifts leftward, then initially there is an:
if money demand shifts leftward, then initially there is an excess supply of money which causes the price level to rise.
What is excess money supply?Excess money supply occurs when the supply of money in an economy is greater than the money demand or the level of the total output of an economy.
When there is an excess money supply, its effect is to result into inflation or causes the price level to rise.
Therefore, when the money market is depicted with the value of the currency on the vertical axis, if money demand shifts leftward, then initially there is an excess supply of money which causes the price level to rise.
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When a shortage of a commodity occurs, we would expect to find that
When a shortage of a commodity occurs, we would expect to find that the price of the commodity is less than equilibrium price.
What is a shortage?A shortage occurs when the quantity demanded exceeds the quantity supplied. At this point, he price of the commodity is less than equilibrium price. For equilibrium price to be restored, the price of the commodity would rise until equilibrium is restored.
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BestCare Health Plan has received a request from a state insurance department in connection with the investigation of several marketing representatives licensed by the state who sell Medicare Advantage plans. What action(s) should BestCare take in response
In the case above, BestCare response is to cooperate with the state and supply requested information.
What is health plan?A health plan is known to be a kind of plan that is made for employee welfare benefit and it is often set up or kept by an employer or by an employee firm or both, that gives medical care for its participants.
Note that, In the case above, BestCare response is to cooperate with the state and supply requested information.
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During a period of economic expansion, when expected profitability is high, the: select one: a. Equilibrium price of bonds increases. B. Equilibrium interest rate falls
During a period of economic expansion, the demand curve for bonds shifts to the left.
What is the effect of an economic expansion?During an economic expansion, the supply of money in the economy rises and the demand for money also increases. This leads to an increase in the interest rate and the price of the bonds would fall.
If expected profitability is expected to be high, people would prefer to hold more risky investment. Thus, there would be a fall in the demand for bonds. The demand curve for bonds would shift to the left.
Here are the options to this question:
A) the demand curve for bonds shifts to the left.
B) the supply curve of bonds shifts to the right.
C) the equilibrium interest rate falls.
D) the equilibrium price of bonds rises.
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Manu works for an auto parts company in New York. He provides information and advice that are not available online to his clients, who are mainly small businesses like Briarcliff Auto. Manu provides credit to Briarcliff Auto, coordinates supplies of parts from several sources to Briarcliff Auto, delivers parts to Briarcliff Auto, and processes returns. Manu is a _______. a. distributor b. reseller c. marketer d. businessmen
Manu is a distributor.
What is a distributor?
A distributor is an organization that purchases non-competitive products or product lines and sells them directly to consumers or clients. The majority of distributors also offer a number of other services, including technical support, warranty, and service.
To access markets that manufacturers could not otherwise target, distributors are crucial. Because a local business already has clients, relationships, and contacts, and is more familiar with the customs and business culture of the area, businesses frequently hire distributors. A potential customer's first point of contact with the manufacturer is the distributor.
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Which sentence best completes the diagram?
Original Question: A central bank raises interest rates on reserves
Answer: Investors are less likely to purchase bonds:
Reason: When the economy is good, the level of borrowing money becomes extraordinarily high since there is confidence in the market.
As in, people believe that they can return the money back to the bank since there is a high chance of making the money back up again at a profit.
However, as more and more people do that, the economy heads into state of inflation.
To ensure that the inflation rate doesn't go up sky-high, central banks raise the interest rate on loans which discourages investors to get loans or bonds due to how much they need to pay back later on.
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Steele Plate Units Cost Mar. 3 Purchase 1 $830 10 Purchase 1 840 19 Purchase 1 880 Total 3 $2,550 Assume that one unit is sold on March 23 for $1,125. Determine the gross profit for March and ending inventory on March 31 using (a) FIFO, (b) LIFO, and (c) average cost methods. Gross Profit Ending Inventory a. First-in, first-out (FIFO) $fill in the blank 1 $fill in the blank 2 b. Last-in, first-out (LIFO) $fill in the blank 3 $fill in the blank 4 c. Average cost $fill in the blank 5 $fill in the blank 6
In response to the need to reinforce the brand promise, ________ is about mixing and matching marketing activities to maximize their individual and collective effects.
In response to the need to reinforce the brand promise, "integrated marketing" is about mixing and matching marketing activities to maximise their individual and collective effects.
What is integrated marketing?By using integrated marketing communications, a business may make sure that all of the advertising tactics it uses are transparent, consistent, and directed at the same objectives.
The elements of integrated marketing is strategy. An integrated strategy is the foundation for everything, including
marketing, websites, creative, social media, public relations, SEO, paid social media, paid media.To know more about the main parts of a marketing plan, here
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A perfectly competitive firm is producing 700 units, which is their profit-maximizing output level. The market price for their good is $2 and the firm's average total cost to produce the 700 units is $0.50. What is their profit or loss from producing the 700 units
Their profit or loss from producing the 700 units is: $1,050.
Profit or lossUsing this formula
Profit or loss=(Number of units×Market price)-(Number of units×Average total cost)
Let plug in the formula
Profit or loss=(700 units×$2)-(700 units×$0.50)
Profit or loss=$1,400-$350
Profit or loss=$1,050
Therefore their profit or loss from producing the 700 units is: $1,050.
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Regarding performance, ________ sources of information include complaints or issues raised by employees, existing performance metrics or reports, financial reports, and quality reports, while ________ sources of information include VOC (Voice of the Customer) tools.
An internal sources is one that include complaints or issues raised by employees while an external sources is one that includes VOC (Voice of the Customer) tools.
What is an internal sources?This refers to information that comes from outgoing mails, memos, notices, circulars, bulletins and manuals.
What is an external sources?This refers to information from source other than the Internal Sources such as information from licensed or subscription-based websites.
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Employee compensation systems are generally developed and administered by ____, and pay increases and promotions are usually recommended by ____.
Employee compensation systems are generally developed and administered by "HRM specialists", and pay increases and promotions are usually recommended by "line managers".
What is Employee compensation systems?Giving employees money in exchange for their work is a systematic process known as compensation. Incentives can help with hiring, work happiness, and performance, among other things.
The purpose of a compensation system is-
To recruit new employees and keep the ones you already have working for your company are your compensation's main objectives. Compensation is also utilised to boost morale and encourage individuals to perform to their highest potential.Paid time off, disability insurance, stock option plans, health insurance, life insurance, and services like financial counselling are a few examples.To know more about the technologies helps to improve employee efficiency, here
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An adjusting entry is completed ________
In accounting, an adjusting entry is completed at the end of the accounting period.
What is an adjusting entry?This refers to the preparation of journal entry which occurs at the end of a reporting period to record any unrecognized income or expenses for the period.
Hence, the adjusting entry is completed at the end of the accounting period.
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To win back customers after they have discontinued service, when should the initial communication be made? g
The following methods can be used to successfully win back customers after they have discontinued service.
Successfully Re-engage Customers:Consider the primary cause of the customer's initial reluctance. Take some time to consider what drove your brand to this point before developing unique methods for your re-engagement plan.Surveying your consumers is one of the finest ways to find the answers to your inquiries. Based on how long a consumer has been away from your store, create a survey and email it to them.Targeted email campaigns are a wonderful strategy to re-engage clients in addition to providing a generic email newsletter based on their prior actions and behaviours. Digital re-targeting is the practice of setting cookies on visitors to your website or social media profiles, or tagging them, and classifying them into groups depending on the pages they visit and how they interact with your website.Existing clients that have already chosen to use your brand for commercial purposes are quite valuable. Don't let them disappear into oblivion.
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When a company develops a product and then attempts to sell it through normal distribution channels in a number of test-market cities, it is engaged in Blank______.
When a company develops a product and then attempts to sell it through normal distribution channels in a number of test-market cities, it is engaged in "standard test marketing".
What is standard test marketing?A type of test market where the business chooses a limited number of sample cities to test the entire marketing mix before launching a new product.
There are various ways to test marketing-
Executing a regional product launch before a full launch.Working with a small group of customers who may directly provide product feedback.Implementing a focused direct marketing campaign to assess advertising methods.To know more about the marketing objective, here
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Which of the baldrige criteria is given the most weight in selecting winners?
Results are heavily weighted toward the Baldrige criterion. This is further explained below.
What are Baldrige's criteria?Generally, "Integrated management framework" refers to a set of tools used to analyze and improve business operations.
In conclusion, Sampling acceptance rates for winners are heavily weighted toward those that meet the Baldrige standards.
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