The short-run profit maximizing rule for a firm is to produce where marginal revenue equals marginal cost (MR=MC). This means that the firm should continue to produce until the additional revenue gained from producing one more unit of output is equal to the additional cost incurred to produce that unit.
This rule ensures that profits are maximized because if a firm produces beyond the point where MR=MC, it will incur higher costs than the revenue it generates, which will lead to a decrease in profits. On the other hand, if a firm produces below the point where MR=MC, it is not taking full advantage of the market demand and is thus leaving potential profits on the table.
Therefore, by following the short-run profit maximizing rule, a firm can ensure that it is producing the optimal level of output to maximize its profits in the short run. However, it is important to note that this rule only applies in the short run, as in the long run, a firm can adjust its inputs and change its production process, which can affect both the marginal cost and marginal revenue curves.
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1. Discuss why is finding and implementing the right pricing strategy critical to a company’s success?
The importance of pricing in business is one of the most important features that decides the profitability of the business. Following are the suitable reasons for it :
1) Effects on the profit margins - The pricing of the product determines how much the company will make per unit of the product sold. If the pricing is apt, then the items sold will eventually increase and profitability will rise.
2) Competition - Competition in the market depends ultimately on the pricing and quality of the product. The right pricing of the product (low from your competitors) gives you a competitive advantage over other similar competitors.
Thus, setting the right price is very critical in a business. (for example how setting prices to 99$ and 100$ makes the difference).
An example of a well-priced product/company is Mcdonald's, it uses the low-cost strategy to maximize its profit and market share. It follows the right pricing of its products, which gives McDonald's an edge over its customers and capitalizes on the e-market.
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Suppose banks increase excess reserves by $ 938685 . If the reserve ratio is 9.0 percent, what is the maximum increase in the money supply
The maximum increase in money supply is 10,429,833.33.
What is the maximum increase in money supply?
Excess reserves are the reserves a bank in excess of the required reserves of the Central Bank. The excess reserves represent reserves that can be lent out to increase the money supply in the economy.
The increase in money supply is a function of the excess reserves and the reserve ratio.
Increase in money supply = excess reserves / reserve ratio
$938,685 / 0.09 = 10,429,833.33
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Jerry wants to work at a bona fide restaurant as a server â how old must he be to legally get the job?
Jerry can work at a bona fide restaurant without any age restriction as employers are not allowed to discriminate against workers based on their age under the Age Discrimination Act of 1967.
The law that makes it against the law to discriminate against employees is Title VII of the Civil Rights Act of 1964. An exception to Title VII's "prohibition of discrimination based on religion, or national origin" is found in a statutory clause titled CM-625 Bona Fide Occupational Qualifications.
The bona fide occupational qualification (BFOQ) exception recognizes that, in a very small number of cases, a person's religion, or national origin may be reasonably necessary to perform a particular job function in the regular course of an employer's business or enterprise.
Employers are not allowed to discriminate against workers based on their age under the Age Discrimination Act of 1967.
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After Hurricane Sandy, FEMA (the Federal Emergency Management Agency) advertised in a New Jersey radio station how people affected by the hurricane could file for assistance. In the political marketplace, the decision makers in FEMA are best characterized as:
After Hurricane Sandy, FEMA (the Federal Emergency Management Agency) advertised on a New Jersey radio station how people affected by the hurricane could file for assistance. In the political marketplace, the decision-makers in FEMA are best characterized as bureaucrats. This is further explained below.
What are bureaucrats?Generally, Officials who operate in a huge administrative system are called bureaucrats.
In conclusion, Federal Emergency Management Agency (FEMA) advertised on a New Jersey radio station how residents impacted by Hurricane Sandy may apply for aid after the storm. FEMA's decision-makers are best described as bureaucrats in the political marketplace.
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The three methods used to classify costs into their fixed and variable components includes.
The methods used to classify costs into their fixed and variable components are:
scatter diagramshigh-low methodregression analysisWhat is a costs classification?This refers to the way by which economic cost are classified for proper purpose and identification.
Majority of fixed and variable cost are classified by using the scatter diagrams, high-low method and regression analysis.
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Accountants use the following three methods to classify mixed costs into their fixed and variable components:
High-low methodScatter graphRegression analysis.What are mixed costs?Mixed costs are costs that have both fixed and variable elements.
Fixed (period) costs do not change with changes in the production volume, unlike variable (differential) costs.
Thus, since variable costs are essential for decision-making, management tries to separate mixed costs so that insights into cost structure become clearer using the above three methods.
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Pine Valley Lumber issues 15,000 shares of 9%, $45 par value preferred stock with a cumulative dividend feature for $65 cash per share. What is the minimum annual dividend the holders of this stock can collectively expect to receive
The minimum annual dividend the holders of this stock can collectively expect to receive is $60,750.
Minimum annual dividend
Using this formula
Minimum annual dividend=Number of shares×par value preferred stock×Dividend rate
Let plug in the formula
Minimum annual dividend=15,000 shares × $45/share par value × 9%
Minimum annual dividend=$60,750
Therefore the minimum annual dividend the holders of this stock can collectively expect to receive is $60,750.
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A(n) _____ strategy is appealing because it attracts two distinct market segments: those who are not price sensitive along with more price-sensitive customers.
A(n) high pricing strategy is appealing because it attracts two distinct market segments: those who are not priced sensitive along with more price-sensitive customers.
Price sensitivity can be broadly defined as the degree to which demand changes when the price of a product or service changes.
The price sensitivity of a product depends on how important the price is to consumers compared to other purchasing criteria. Some people value quality over price, making them less sensitive to price. For example, customers looking for high-end products are usually less price-sensitive than bargain hunters. So you are willing to pay more for high-quality products.
In contrast, more budget-conscious people may be willing to compromise on quality. These people don't spend much on things like brand names, even if they are of higher quality than common home-branded products.
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A company produces and sells 10,125 desks each year. Each production run has a fixed cost of $500 and an additional cost of $15 per desk. To store a desk for a full year costs $8. What is the optimal number of desks the company should make during each production run
500 desks company should make during each production run.
Lets simplify the problem through simple steps given in the image:
Yearly Working cost = ( 200+ 5x) * 250/x
Total cost = 2x + ( 200+ 5x) * 250/x
Total cost = 2x + 5000/x + 12500
Using minimum cost = 2- 500000/x^2 = 0
x^2 = 250000
x = 500
Hence 500 desks company should be made to run.
To obtain a business license, bess writes a check to a certain state agency. Bess is?
To obtain his business license, Bess writes a cheque to a certain state agency. Bess is the drawer.
A business license grants Bess the right to start and run a particular type of business in the city, state, county, or country that issues it. It is a type of permit indicating the company has the government's approval to start and operate.
There is a procedure to be followed in order to obtain a business license. Thus, Bess writes a check to a certain state agency in order to obtain his business license.
The maker of a bill of exchange or cheque is called the drawer. Hence, when Bess writes a cheque to a certain state agency he is called the drawer.
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For an economist, the cost of something is:
For an economist, the cost of something is: cost is the measure of the alternative opportunities foregone in the choice of one good or activity over others.
In general terms, the monetary value of goods and services purchased by producers and consumers. In a basic economic sense, cost is a measure of alternatives that are abandoned when choosing one product or activity over another.
These basic costs are commonly referred to as opportunity costs. For example, for fixed-income consumers, the opportunity cost of buying a new home appliance can be worth the missed vacation trip.
Traditionally, the cost is related to the relationship between the value of production input and the production level. Total cost refers to the total expenditure required to achieve a certain level of output. Divide this total cost by production to get the average cost or unit cost.
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The generational group of managers that expect to give and get more feedback on their work are?
The generational group of managers that expect to give and get more feedback on their work are Gen X; they focus on results more than hours
More about Gen X managers:
Although we don't hear much about Generation X these days, it was huge in the pre-Millennial era. Either you belonged to Generation X or you fit in with the crowd. Gen X managers are subtly replacing Boomers in management positions as they enter retirement.
A characteristic of Gen X managers is their drive for achievement, particularly financial success. Many members of Generation X are incredibly resourceful and motivated to succeed financially because they grew up seeing their parents struggle financially and have recently experienced their own.
Both Gen X managers and employees tend to favour less formal working arrangements that allow them to interact freely with both their superiors and the people they supervise.
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In the case of distributive bargaining, the ________ point indicates what a person would like to achieve out of a negotiation.
In the case of distributive bargaining, the target point indicates what a person would like to achieve out of a negotiation.
What is collective bargaining?This is when an agreement is reached between employer and employees in an organization on issues that requires urgent attention.
Collective bargaining involves employees working together in an organization coming together to agree about some important matters.
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Refer to Exhibit 24-9. Assuming that the firm is maximizing profits, the marginal cost of the last unit produced equals
Most time, the marginal cost of the last unit produced equals the marginal revenue in order to ensure that the firm is maximizing profits.
When do firm maximize profits?Most time, a firm will prefer to maximize profit in order tooIncreased its brand loyalty.
Most time, when a firm is able to cut prices and gain more customers, it will gain bigger exposure and brand loyalty and this will enables the firm to be more prominent in the market.
In costing, the the marginal cost of the last unit produced equals the marginal revenue in order to ensure that the firm is maximizing profits.
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Storage and handling expenses as well as property taxes and insurance are all examples of ________ costs.
Storage and handling expenses as well as property taxes and insurance are all examples of inventory carrying costs.
What are the inventory carrying costs?The entire cost of keeping unsold products in inventory includes all storage-related costs. The total covers warehousing expenses as well as intangibles like depreciation and lost opportunity cost. Typically, a company's carrying costs for inventory range from 20 to 30 percent of its total inventory expenditures.
Carrying cost, carrying cost of inventory, or holding cost are all terms used in marketing to describe the overall expense of retaining goods. This covers warehousing expenses like rent, utilities, and salaries as well as financial outlays like opportunity costs and expenses for perishable, shrinkable, and insured goods.
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Angelika is the Chief Operating Officer of One Spice Inc., a firm that grows and processes the Naga Viper pepper, one of the world's hottest peppers. Angelika wants to better understand the relationship between her firm's organizational culture and the ability to achieve competitive advantage. The relationship between these two states that
Relationship between these two states that a firm can achieve competitive advantage if their organizational culture follows the VRIO principles.
More about VIRO principles:
Abbreviation for the four-question framework consisting of "is the firm organised to capture value?" and "is it valuable, unusual, costly to imitate?" Usually, these four elements are treated in the manner of a decision tree It uncovers sustained competitive advantage
An organization often has two alternatives when trying to identify sources for a long-term competitive edge. It can either examine the internal elements (using Porter's Five Forces and PESTLE Analysis) or the external forces affecting the firm (BCG Matrix and Value Chain Analysis).
In the latter group, the VRIO Framework or VRIO analysis belongs.
It is a tool used in business to assess an organization's internal resources in order to establish and maintain a competitive edge.
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A project manager is teaching one of her team members how to give and receive criticism. According to d. Quinn mills' eight good people management techniques, what is she doing?
According to D Quinn mills' eight good people management techniques, the team manager is trying to teach communication skills. The abilities you utilize when offering and receiving various types of information are known as communication skills. Examples include expressing fresh thoughts, emotions, or even an update on your project.
The four Cs of communication are listening, speaking, observing, and empathizing. Understanding the contrasts between face-to-face contacts, phone calls, and digital communications like email and social media is also beneficial. You can understand others and be understood by them if you have good communication abilities.
These may include, but are not limited to, offering and receiving constructive criticism, public speaking, and attentively listening during conversations.
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The company employs a single employee who works all five weekdays and is paid for the workweek on the following Monday. The employee works the entire week ending on Friday, December 30. The employee earns $800 per day. Complete the necessary journal entry.
The necessary journal entry is 4000$.
The journal entry is a document of a commercial enterprise transaction for your commercial enterprise books. In double-access bookkeeping, you make a minimum magazine entry for every transaction. because a transaction can create plenty of modifications in an enterprise, a bookkeeper tracks them all with magazine entries.
An instance of a journal entry includes the acquisition of machinery by u.s . where the machinery account may be debited, and the cash account may be credited. There are three primary forms of a journal entry: compound, adjusting, and reversing.
Journal entry layout is the usual format used in bookkeeping to keep a file of all of the agency's commercial enterprise transactions and is especially based totally on the double-entry bookkeeping device of accounting and ensures that the debit aspect and credit score facet are always equal.
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Miranda, a salesperson, plans to communicate sales messages and stories with her customers using a word picture. In order to conduct the session using a word picture, she should _____.
In order to conduct the session using a word picture, she should paint as precise and reliable a picture as possible.
Click the Format tab after selecting the image you want to crop. Pick Crop from the drop-down menu. Select the desired shape from the drop-down menu by hovering over Crop to Shape. To fit the chosen shape, the image will be cropped.Use the mouse or touchpad to choose the items you want to align while holding down Shift. Pick either the Shape Format or the Picture Format. Choose Align. If Align isn't listed on the Shape Format tab, choose Arrange first, then Align.What is Microsoft Word picture?You can add images to your document using Word, including company logos, photographs, and other images, to add interest or a more polished appearance. This article demonstrates how to insert a photo from a website.
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_____ involve an initial public offering, private sale of stock, succession by a family member or a nonfamily member, merger with another company, or liquidation of a company.
Exit strategies involve an initial public offering, private sale of stock, succession by a family member or a nonfamily member, merger with another company, or liquidation of a company.
What is exit strategy?
When specified conditions either have been fulfilled or exceeded, an investor, trader, venture capitalist, or business owner would implement an exit strategy, which is a contingency plan, to liquidate their position in one or more financial assets or to sell tangible company assets.
Why exit strategy is important?
Creating a smooth transition for your management team and other stakeholders. Generating a potential income for retirement or disability. Enhancing the future worth of your business. Reducing or deferring the potential tax impact on your estate, spouse or family.
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Help how do you solve this
Based on the amount the Fed purchased and the required reserve ratio, the amount the bank will be able to lend customers is $9,460,000
What amount can the bank lend out?This can be found as:
= Amount purchased by Fed - (Amount purchased by Fed x Required reserve)
Solving gives:
= 11 million - ( 11 million x 14%)
= 11 million - 1,540,000
= $9,460,000
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During ________, the project manager performs several activities to assess the size, scope, and complexity of the project and to establish procedures to support subsequent activities.
During Project, initiation the project manager performs several activities to assess the size, scope, and complexity of the project and to establish procedures to support subsequent activities.
The developer engages in a number of tasks to determine the project's size, scope, and complexity and to set up the procedures that will support following tasks.Using a Work Breakdown Structure, project activities are defined as the initial planning activity. This activity's goal is to create a shared understanding of the project's scope. A sample work breakdown structure looks like this. It is a description of the work that needs to be done to finish a project's deliverables.What is the initiation phase?The initiation phase is the beginning of the project. In this phase, the idea for the project is explored and elaborated. The goal of this phase is to examine the feasibility of the project.Learn more about Work Breakdown Structure brainly.com/question/14262396
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a variable life insurance agent must be licensed and appointed as a life and variable contract agent, as well as an
A variable life insurance agent must be licensed and appointed as a life and variable contract agent, as well as a broker-dealer. This is further explained below.
What is a broker-dealer?Generally, a member of the Stock Exchange who performs the duties of both a broker and a jobber.
In conclusion, An individual who wishes to sell variable life insurance must first get a license and then be designated as a life and variable contract agent in addition to being a broker-dealer.
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Imagine we are throwing a loaded die (6 sides). The probability that the die shows a 6 is twice as high as the probability of each of the other numbers. On average, out of these 70 throws how many times would the die show the number 6
Probability
It is a branch of mathematics that deals with the occurance of a random event. The value is expressed from 0 to 1. It predicts how likely events are to be happened .
Step by step solution:
Die has six sides so probability of each is [tex]\frac{1}{6}[/tex] but,
The probability that the die shows a 6 is twice as high as the probability of each of the other numbers.
so,
the probability of 6 is [tex]\frac{2}{7}[/tex] and others probability is [tex]\frac{1}{7}[/tex]
we throw die 70 times
so probability 6 out of 70 throws is
70×[tex]\frac{2}{7}[/tex]
=20
out of these 70 throws , the probability of die showing number six is 20 times.
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Less popular open source products are not likely to attract the community of users and contributors necessary to help improve these products over time. This situation reiterates the belief that _____ are a key to success.
This situation reiterates the belief that network effects are a key to success.
What is Network Effect?A network effect is a phenomena in which the value or utility derived by a consumer from a good or service is proportional to the number of customers of similar goods.
The Network Effect is platform becomes more useful as its total computing power increases.
The network effect is a phenomena in which the value of a commodity or service increases as the number of persons or participants increases. However, as more people gained access to the Internet, more material, information, and services were created.
In Other Word , The network effect is a phenomenon that explains that the number of users can increase or decrease the value of a system. The best example of the network effect is the internet and E-commerce websites. At first, there were hardly any clients yet with time, the estimation of web expanded because of increase in several clients.
Therefore, we can conclude that the correct option is C.
Your question is incomplete, but most probably your full question was:
Less popular open source products are not likely to attract the community of users and contributors necessary to help improve these products over time. This situation reiterates the belief that _____ are a key to success.
A. proprietary products
B. brand strategies
C. network effects
D. technology expenses
E. advertising campaigns
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The director of research has asked you to produce a pro forma valuation of a target company using leveraged buyout analysis. A company has $260 million of EBITDA. The transaction purchase price is 8.5 times EBITDA, and the equity contribution is 20%. If the transaction is completed, what will be the debt-to-EBITDA ratio
6.8 will be the debt-to-EBITDA ratio.
EBITDA* 8.5=Transaction Value
(Transaction value * 0.8) / EBITDA = 6.8
EBITDA, or earnings before interest, taxes, depreciation, and amortization, is a measure of a company's overall financial performance and is used as an alternative to net income in certain circumstances. However, EBITDA can be misleading because it does not reflect the cost of capital investments such as property, plant, and equipment.
This metric also excludes debt-related expenses by adding interest and tax costs to revenues. However, it is a more accurate measure of business performance as it is able to report profit before the effect of accounting and financial deductions.
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The purpose of _____ is to provide potential employees with an accurate introduction to a job so that they can better evaluate the employment situation.
The purpose of a realistic job preview is to provide potential employees with an accurate introduction to a job so they can better assess the employment situation.
What is the realistic job preview?It corresponds to a technique used by organizations during the recruitment and selection process to communicate more accurately and realistically about the position offered, its positive and negative points, in order to align the expectations of future employees about the job.
Therefore, the realistic job preview helps in the real communication about the work, its benefits and also its challenges to be overcome.
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What are two common security threats that it personnel encounter in businesses on a regular basis?.
Here are the two common cyber threats that IT personnel encounter in businesses on a regular basis are:
Viruses and wormsWhat is Viruses and worms ?Viruses and worms are malicious software programs (malware) aimed at destroying an organization's systems, data and network. A computer virus is a malicious code that replicates by copying itself to another program, system or host file. It remains dormant until someone knowingly or inadvertently activates it, spreading the infection without the knowledge or permission of a user or system administration.
A computer worm is a self-replicating program that doesn't have to copy itself to a host program or require human interaction to spread. Its main function is to infect other computers while remaining active on the infected system. Worms often spread using parts of an operating system that are automatic and invisible to the user. Once a worm enters a system, it immediately starts replicating itself, infecting computers and networks that aren't adequately protected.
Preventing viruses and worms
To reduce the risk of these types of information security threats caused by viruses or worms, companies should install antivirus and antimalware software on all their systems and networked devices and keep that software up to date. In addition, organizations must train users not to download attachments or click on links in emails from unknown senders and to avoid downloading free software from untrusted websites. Users should also be very cautious when they use P2P file sharing services and they shouldn't click on ads, particularly ads from unfamiliar brands and websites.
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Help please
The initial impact of the Fed's open market sale of government securities by the Federal Reserve is
A.
a fall in the money supply by some multiple of the dollar volume of the sale.
B.
a reduction of the commercial banking system's reserve deposits at the Fed.
C.
an increase in the money supply by some multiple of the dollar volume of the sale.
D.
an increase in commercial bank deposits at the Fed.
When there is a Fed open market sale, the initial impact is D. an increase in commercial bank deposits at the Fed.
What happens when the Fed sells securities?When the Fed sells securities, the impact is that people will use dollars to buy the securities and so the volume of money in the economy will decrease.
The way this happens is that the Fed will take money from commercial banks which would increase commercial banking deposits at the Fed.
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An idea, opportunity or dream is the ________ of planning that managers begin with to plan.
An idea, opportunity, or dream is the foundation of planning that managers begin with to plan.
The planning process begins with setting goals. Goals are the end result that management wants to achieve through its activities. Goals are specific and can be measured in units.
When developing SMART operational goals, it is important to seek employee feedback throughout the process. Once set, it can be difficult for employees to understand and accept goals. Philip is the new manager of a 15-man manufacturing company.
Redesigned workspace to keep tools within reach of an idea, opportunity, or dream.
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Estimates of the income elasticity of demand for health care indicate that it is about 1. These estimates suggest that spending on health care will probably:
The income elasticity of demand is 1 which shows that if the prices are lowered the demand will increase. The quantity demanded will change as the price changes.
What is demand?Demand is the want of a product this is influenced by the price and supply of the product. If the price of a product is increased the demand for the product will fall and if the price is lowered the demand will increase.
The demand is increased if prices are lowered and vice versa when the income elasticity of demand is positive which is the case for health care.
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