If the price of apples decreases by 2 percent and causes apple consumption to increase by 4 percent, then the elasticity of demand is 2 and the demand is elastic.
What is Price Elasticity of Demand?This refers to the ratio of percentage change in the demanded quantity of a good in relation to the change in price.
Hence, we can see that because the price of apples decreased by 2%, then apple consumption increased by 4% which means that the elasticity of demand is 2 and the demand is elastic.
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When units produced equals units sold, income under variable costing as compared to net income under absorption costing will be
Answer:
When units produced exceed units sold, income under absorption costing is higher than income under variable costing.
Explanation:
When units produced exceed units sold, income under absorption costing is higher than income under variable costing.
If you wanted to compare economic well-being over time and across countries, the data you would use is: Group of answer choices per capita GDP inflation real per capita GDP real GDP
Answer:
Real GDP per capita is a measurement of the total economic output of a country divided by the number of people and adjusted for inflation. It's used to compare the standard of living between countries and over time.
The Nobel Prize-winning economist Oliver Hart once said, "If we know the marginal social cost [of pollution] emissions, a tax is better, but if we know the optimal quantity, cap and trade is better. " Given this statement and the knowledge of ways governments can intervene in markets, evaluate the following statement:
Any outcome that can be achieved by taxing can also be accomplished by establishing a quota.
This is because
a. If we know the marginal social cost, we can set the optimal quantity equal to the optimal price. If we know the optimal quantity, we can set a quota equal to the optimal price.
b. If we know the marginal social cost, we can set the tax so that price is equal to the optimal price. As a result, the optimal quantity will be achieved. If we know the optimal quantity, we can set a quota and the market will find the optimal price.
c. Knowing the marginal social cost allows companies to know how much to increase their prices and make more profits. This is better for the economy as a whole because then companies can create more jobs. Cap and trade restricts quantity, which lowers profits.
d. If we know the optimal quantity, cap and trade can be used to set the price. If we know the marginal social cost, a tax can be used to set the quantity
From the words of Oliver Hart, any outcome that can be achieved by taxing can also be achieved by establishing a quota because
if we know the marginal social cost, we can set the tax so that price is equal to the optimal price. As a result, the optimal quantity will be achieved. If we know the optimal quantity, we can set a quota and the market will find the optimal price.What is marginal social cost?This is the total cost that is accrued to a society given that there is a further action that was taken in a given economy.
This cost is greatre than social benefit at a point where the quantity demanded and the quantity supplied are equal.
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Gen X managers understand that: Multiple select question. flexibility and consensus building work well hours spent in the workplace are important there is more to life than work
Answer:
flexibility and consensus building work well
there is more to life than work
results are more important than hours spent in the workplace
Explanation:
Gen X managers comprehend that adaptability and agreement building function admirably, there is something else to life besides work, and results are a higher priority than hours spent in the working environment.
Gen X managers will more often than not appreciate and esteem adaptability in the working environment. They comprehend the significance of balance between fun and serious activities and are bound to help adaptable work plans, like remote work choices or adaptable planning, to oblige their representatives' requirements.
Gen X managers frequently focus on coordinated effort and inclusivity while deciding. They esteem input from their colleagues and try to construct agreement by including others in the dynamic cycle.
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A company's current sales are $300,000 and fixed expenses total $85,000. The contribution margin ratio is 30%. The company has decided to expand production which is expected to increase sales by $70,000 and fixed expenses by $15,000. If these results occur, net operating income will ______.
A company's current sales are $300,000 and fixed expenses total $85,000. The contribution margin ratio(CMR) is 30%. The company has decided to expand production which is expected to increase sales by $70,000 and fixed expenses by $15,000. If these results occur, the net operating income will be $6,000.
The net operating income will increase by [tex]$6,000;[/tex]
[tex]70,000*30 - 15000 = 6000[/tex]
As the contribution margin ratio(CMR) is 30% and [tex]$15,000[/tex] is fixed expenses, the net result will be an increase in net operating income.
The difference between a business's revenue and variable costs, represented as a percentage, is the contribution margin ratio(CMR). An organization's total margin is a representation of the total income which can be used to pay for fixed expenditures and generate a profit.
The contribution margin ratio(CMR) is the percentage difference between a business's revenue and variable costs. In other words, it's the money that remains after paying for all the expenses related to creating a good or service, such as buying supplies, packaging them, and shipping them.
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5 employees with annual salaries of 50000 60000 50000 70000 90000 what is the annual mean
Answer: 50,000
Mean - the average number in a data set/the most common number in a set
The most common number is 50,000 - because we see it twice in this data set.Every other number is seen once.
Hope this helps you!
Answer:
The answer is 64,000
Explanation:
Jessie's business sells souvenirs and craft items to tourists in Myrtle Beach, South Carolina. This is an example of a ____ business.
It should be noted that Jessie is into a Distribution business when she sells souvenirs and craft items to tourists in Myrtle Beach, South Carolina.
What is Distribution business all about?Distribution in business can be regarded as an activity of both selling and delivering products and services from manufacturer to customer.
It often called product distribution and it helps to ensure that customers and all members of the distribution channel are happy.
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According to the quantity theory of money, if the money supply is $40 billion, real output is $100 billion, and the price level is 1.2, what is the velocity of money
According to the quantity theory of money, the velocity of money is 3.
What is the quantity theory of money?The quantity theory of money is an economy theory that arose in the 16th century among monetary economists. The quantity theory of money postulates that the price of goods and services in an economy is directly proportional to the money supply and velocity.
Quantity theory of money = price x real output = money supply x velocity
Velocity = ( price x real output / money supply)
Velocity = (100 x 1.2) / 40 = 3
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How much does a check-cashing place typically charge to cash a check?
3%, The cost for cashing checks varies, with most states setting limits on how much a business can charge to provide this service. The fee charged is often a percentage of the amount of the check being cashed, and can range from 1%-12%.
A(n) ____________________ account is used to record increases in owner's equity from the sale of goods or services.
Answer:
A trading profit and loss account
Ivory is listening to a manager present statistics that they believe supports a new initiative. Which type of critical thinking question would Ivory most likely ask at this point
The type of Critical Thinking Questions that Ivory should ask at this point are:
Critical Thinking Questions are questions that make inquiries into the veracity of a claim.
They help the evaluator to maintain a logical and rational line of thoughts so that they are able to connect clearly the relationship between facts and ideas.
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Global sociocultural environments (Connect, Perform)
Complete the following sentences about sociocultural differences with the correct term.
The historical tendency in Canada for English speakers to be impatient with French speakers and vice versa is an example of , or people’s natural (but avoidable) tendency to feel their culture is superior to others.
When a company does business in a country like China with a , managers should expect people there to prioritize the future over the present and value thriftiness and persistence. However, when doing business in a country with a , such as Russia, managers need to recognize that people there will value tradition and prioritize social obligations.
Which of the following companies has high power distance?
a) At Sabine Industries, the CEO is seen as the undisputed leader of the office. People are afraid to correct him when he is wrong, and he is always addressed as Mr. CEO, while the people who report to him are addressed by their first names.
b) At Jupiter Jumpers, teams make decisions together, and everyone in the company is called an associate. The employees and managers often get together to socialize outside of work, and they can be heard laughing and talking over each other while they have drinks together.
c) At Sollient, managers listen carefully to employees when they raise concerns or questions, and employees are not afraid to speak up. Employees expect to be treated equally and fairly.
Which of the following companies has high femininity?
a) Quality of life is important at Social Science Systems. All employees are eligible for child care, elder care, or pet care services, and employees can take as many vacation days as they need, as long as they get their work done. Employees regularly cooperate with each other to cover difficult or undesirable work shifts.
b) Pomdel Media is the place to go if you want professional film editing, fast and error-free. Everyone at Pomdel has heard about Hal, an almost mythical figure, who once stayed up for 3 days straight to get a job finished before the deadline. At Pomdel, you had better know how to do your job and do it well. There’s a lot of autonomy but a lot of responsibility, too.
c) At Acme Accounting, performance comes first. Don’t bother showing up for work if you are in the bottom 10% of the sales force at the end of the year. Frank Fitzgerald, the CEO of Acme, makes sure that only the best salespeople stay with the company from one year to the next.
Which of the following companies has long-term orientation?
a) Riesa Corporation is focused on making a profit quickly. Sales results are reviewed weekly, and if a new product doesn’t turn a profit in 6 months, production is stopped and resources are moved to a different product.
b) Petrov is a farmer in Russia. He often thinks of the good old days when his neighbors gathered together to help each other, and the old traditions were upheld. Today, it seems like everything is changing, but as long as this year’s wheat crop is good, things will be okay.
c) Hikooki Flight is a Japanese plane manufacturing company. Mr. Hikooki is a planner, and he knows what the company will be doing 25 years from now. He is constantly reminding his employees about the importance of creating efficient and reliable products so that the company does not need to do rework.
The company which has high power distance is:
At Sabine Industries, the CEO is seen as the undisputed leader of the office. People are afraid to correct him when he is wrong, and he is always addressed as Mr. CEO, while the people who report to him are addressed by their first names.
The company which has high femininity is:
a) Quality of life is important at Social Science Systems. All employees are eligible for child care, elder care, or pet care services, and employees can take as many vacation days as they need, as long as they get their work done. Employees regularly cooperate with each other to cover difficult or undesirable work shifts.
What is High Power Distance?This refers to the increase in variance in power in a particular culture.
Some examples of countries with high power distance includes:
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When an organization's accounting department decides to send out a bill to a new customer, this represents a(n) ________ decision
Answer:
When an organization's accounting department decides to send out a bill to a new customer, this represents a(n) programmed decision .
The major purpose of test marketing is to provide management with the information needed to make a final decision about ________.
The major purpose of test marketing is to provide management with information : Whether to launch the new product.
What is test marketing?Test marketing refers to the few introduction of a product and a marketing program to determine the reactions of potential customers in a market situation.
The objective of test marketing is to find the limitations and strengths of the product based on customers' reactions. It also help to structure the marketing strategy of that product
Hence, the major purpose of test marketing is to provide management with information whether to launch the new product.
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Cakes by Dominic
Dominic has been helping his grandmother run a small-scale business
from her home making celebration cakes for special occasions such as
birthdays and weddings. She helped him develop his cake-making skills
which he further improved by completing a catering course at a local
college.
His grandmother wants to retire and let Dominic take over the business
as Dominic has always wanted to become an entrepreneur. He is very
passionate about what he does and is grateful to her as there are very few
job opportunities in the area. He has recently inherited a large sum of money from another relative
and wants to expand the business by setting up a small cake shop in his local town centre which
is busy with local trade. Apart from a small local bakery, there is no other competition in the area
that specialises in celebration cakes. Dominic is very optimistic about the future success of the
business and hopes that his initial investment will give a good return.
Outline two motives Dominic might have for wanting to become an entrepreneur.
[4]
Answer:
One motive that Dominic might have was that he has always wanted to become an entrepreneur and his grandmother wants him to take over the shop for her since his cake-making skills had very much improved since he started. And another motive Dominic had was that there was not a lot of jobs open for him in the area, so he was glad to help.
Explanation:
in addition to exporting and importing goods and services, other forms of exchange take place among nations. Provide at least two examples.
Answer:
1. money exchange
2. tourism / trade
Explanation:
Money exchange happens among nations,
tourism can happen within another country.
( Intro to Business: Chapter 3 )
Which financial statement shows cash collected from customers?.
If the value of the goods and services a country produces increases while its
population stays the same, which statement must be true?
A. The country's unemployment rate has decreased.
B. The country's total GDP has decreased.
C. The country's per capita GDP has increased.
D. The country's rate of inflation has increased.
If the value of the goods and services a country produces increases while its population stays the same, "the country's per capita GDP has increased."
This is based on the idea that per capita GDP is a form of GDP measure that divides the total GDP, particularly a country with the population or number of people living in that country.
Therefore, when the value of the goods and services a country produces increases while its population stays the same, "the country's per capita GDP has increased."
Hence, in this case, the correct answer is option C. "the country's per capita GDP has increased."
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Answer: The country's per capita GDP has increased. So "C" is right.
Explanation: Just took the quiz
Learning is Fun company had current assets amounting to Php 100,000. Noncurrent assets for the year totaled Php 76,000. How much is the company's total assets?
The company's total assets are Php 176,000
How to calculate total assets?By adding current and non-current assets, we will get the company's total assets.
Given:
Current assets = 100,000
Non current assets = 76,000
By adding current and non-current assets:
Total assets = current + non current
Total assets = 100,000 + 76,000
Total assets = 176,000
Taking liabilities into account makes for the most accurate calculation of total assets. To determine total assets, you subtract the value of liabilities from the value of assets.
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Conceptually, modernization theory is an outgrowth of _____ theory because it views economic growth as a consequence of certain values and attitudes
Modernization theory can be understood as a consequence of functionalist theory, in that it determines that economic growth is a consequence of values and attitudes.
What is functionalist theory?Its objective is to understand the interactions of society based on its functioning and its rules, that is, its scope is in the explanation of society based on its functions.
Therefore, modernization is based on the functionalist theory by conceptualizing facts of society from actions and causalities.
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If you deleted a that’s part of an existing relationship, Access might
A. issue a warning.
B. make a backup copy of the object.
C. duplicate the relationship
D. delete the relationship.
This question is about Microsoft Access please explain. :)
Answer:
A
Explanation:
Implicit promises are those promises that are made but not clearly stated and thus is not understandable. Therefore, in advertisements that make implicit promises, very often the customers fail to analyze the complete message and return frustrated after their expectations are not met.
A child born today will see more than _____________ advertisements in their life.
Will, they would see 1 Million advertisements in their lifetime.
What is the 50 30 20 budget rule? Is that a good plan for a monthly budget?
Answer:
The 50/30/20 rule is an easy budgeting method that can help you to manage your money effectively, simply and sustainably.
Explanation:
The basic rule of thumb is to divide your monthly after-tax income into three spending categories: 50% for needs, 30% for wants and 20% for savings or paying off debt.
<3 Have a nice day.
50 30 20 budget rule means, 30% of income is spent on wants, 50% on needs, and 20% is set aside for savings and investments. By doing this, you will have established buckets for everything and be operating inside each bucket's allowable limits.
This will help you develop discipline while ensuring that you don't sacrifice the standard of living or your long-term planning. Let's examine how to divide your spending into three categories—needs, wants, and savings—now that the guideline is apparent.
Some people may find the 50/30/20 Rule of budget to be a helpful tool for managing their finances, but your particular monthly costs will determine if the approach is suitable for you. 50% of your income set aside for needs may not be sufficient, depending on your salary and where you reside.
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Why is it helpful to include milestones when setting personal performance goals. a) Including milestones allow one to explore many diverse interests before setting personal performance goals. b) Including milestones sets a long-term vision of where one wants to be in ten years. c) Including milestones allows one to use several short-term achieveable tasks to achieve one long-term goal. d) Including milestones allows one to measure one's performance in miles.
Answer:
c) Including milestones allows one to use several short-term achieveable tasks to achieve one long-term goal.
Explanation:
In this regard, we can relate the inclusion of milestones when defining personal performance goals to SMART goals, which is a method used to better target which actions will lead to the achievement of your goals and objectives.
SMART goals include milestones that allow you to use a variety of short-term, achievable tasks to achieve a long-term goal.
The acronym SMART stands for: Specific, Measurable, Achievable, Relevant and Time-based.
Which implies that the goals must be specific, they must be planned as clearly as possible. Measurable because they must be measured and monitored to analyze the performance of the tasks required to reach the goal. It must also be attainable, which means that the goal must be planned only if there are real possibilities to be achieved. Relevant to achieving motivation and ultimately time-based, as every goal must have a deadline for reaching it.
Answer:
c
Explanation:
Whoosh Calendars imprints calendars with college names. The company has fixed expenses of $1,095,000 each month plus variable expenses of $6.50 per carton of calendars. Of the variable expenses, 68% is cost of goods sold, while the remaining 32% relates to variable operating expenses. The company sells each carton of calendars for $16.50.
Requirement:
1. Compute the number of cartons of calendars that Fast Spirit Calendars must sell each month to breakeven.
2. Compute the dollar amount of monthly sales Fast Spirit Calendars needs in order to earn $312,000 in operating income.
3. Prepare the company's contribution margin income statement for June for sales of 455,000 cartons of calendars.
4. What is June's margin of safety (in dollars)? What is the operating leverage factor at this level of sales?
5. By what percentage will operating income change if July's sales volume is 11% higher?
Original volume (cartons)Add: Increase in volumeNew volume (cartons)Multiplied by: Unit contribution marginNew total contribution marginLess: Fixed expensesNew operating incomevs. Operating income before change in volumeIncrease in operating income Percentage change
The number of cartons of calendars that Fast Spirit Calendars must sell each month to breakeven is 109500.
Breakeven1. Number of cartons
Number of cartons=fixed expenses/contribution margin per carton
Number of cartons=1095000/(16.5-6.5)
Number of cartons=109500
2. Target sales in dollars
Contribution margin ratio=contribution margin per carton/sales price per carton =
Contribution margin ratio=(16.5-6.5)/16.5
Contribution margin ratio=.61
Target sales in dollars=(fixed expenses + target operating income)/ contribution margin ratio
Target sales in dollars=(1095000+312000)/.61
Target sales in dollars=2,306,557
3. Contribution margin income statement
Sales revenue 7,507,500
(16.50x455,000)
Cost of goods sold 5,105,100
(6.50x455,000x68%)
Operating expenses 2,402,400
(6.50x455,000x32%)
Contribution margin 4,550,000
[(16.5-6.5)×455,000]
Fixed expenses 1095000
Operating income 3,455,000
(4,550,000-1,095,000)
4. Margin of safety (in dollars)
Sales revenue - sales revenue at breakeven = margin of safety ( in dollars) - ( sales price per carton x breakeven cartons) = margin safety in dollars
Margin safety in dollars=7,507,500-(16.5x109500)
Margin safety in dollars=7,507,500-1,806,750
Margin safety in dollars=5,700,750
Operating leverage factor =Contribution margin/operating income
Operating leverage factor =4,550,000/3,455,000
Operating leverage factor =1.316
Operating leverage factor =1.32 (Approximately)
5. Operating income
Operating income increase=Sales volume x operating leverage factor
Operating income increase=11%x1.32
Operating income increase=.1452
New volume=Original volume + increase in volume
{[455,000+45,500 x(16.5-6.5)]-1095000}-3,455,000
=[500,500x10)-1095000]-3,455,000
=(5,005,000-1095000)-3,455,000
=3,910,000-3,455,000
=455,000
455,000/3,455,000
=0.132
Inconclusion the number of cartons of calendars that Fast Spirit Calendars must sell each month to breakeven is 109500.
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If a nonbinding price floor is imposed on a market, then the a. quantity sold in the market will stay the same. b. price in the market will increase. c. price in the market will decrease. d. quantity sold in the market will decrease.
The thing which would happen if a nonbinding price floor is imposed on a market is that the quantity sold in the market will stay the same
What is a NonBinding Price Floor?This refers to the price which is significantly lower than the equilibrium market price.
Hence, when a nonbinding price floor is imposed on a market, then this simply means that the quantity sold in the market will stay the same because they are operating way below the surplus.
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True or false: A questionnaire is a research technique that attempts to analyze consumer sentiments based on their social media activity. True false question.
A questionnaire being a research technique that attempts to analyze consumer sentiments based on their social media activity is false.
What is a Questionnaire?This is usually in the form of of questions in order to gather information from respondents through survey or statistical study.
The definition above doesn't see it as analyzing consumer sentiments based on their social media activity which was why False was chosen.
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New batteries are needed to power our electronic devices—our cell phones, tablets, and computers—and that market is exploding. Researchers are developing lithium-ion batteries that will be vital to clean-energy and automobile manufacturing and could open up huge new markets. Currently, the domestic production accounts for about 12 percent of the world's production. The country has a domestic supply of raw materials, but production is limited and prices remain high compared to imported batteries.
The government could invest in technology and research.
The government could purchase domestic batteries exclusively.
The government could impose heavy tariffs on all imported batteries.
The government could ban imported batteries.
Answer:
The government could impose heavy tariffs on all imported batteries.
Explanation:
Import tariffs are taxes imposed on imported commodities. Should the government impose heavy tariffs on the imported batteries, their prices in the domestic market will go up.
One of the objectives of a tariff is to protect locally produced goods from unfair competition by low-priced imports. The imposed tax become a cost to the imported batteries, which will make them more expensive. The locally produced batteries will compete favorably with the imports. The domestic industry will grow since it has raw materials and a market to sell its products.
Which of the following creates a hazard for accidents in the kitchen?
a
Using a single door to enter and exit the kitchen area
b
Holding containers of liquid close to the body with both hands
c
Limiting the number of items that can be placed in bussing containers
d
Having windows on swinging doors
Answer:
the first condition
Explanation:
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One example of an unexpected event that can seriously affect your finances
is:
A. the bank charging you for an account overdraft.
B. losing your job because your company's performance was poor.
C. spending more than you took in the past two months.
D. missing a credit card payment and being charged interest on the
balance.
The example of an unexpected event that can seriously affect the finances of any person is losing the job because the company's performance was poor.
What is finance?Finance is defined as a broad phrase that encompasses activities such as credit, banking, debt, funds, capital markets, and investments.
Finance is defined as the obtaining, expenditure, and management of funds. The elements that affect the finances of any person is that the bank charges on an account overdraft.
The finances of any person may be affected by spending more than the person took in the past two months.
Therefore, option B is correct.
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