The statement that is true regarding inventory errors (overstating or understating ending Merchandise Inventory): a. Inventory errors will cancel out after two periods.
What is inventory error?Inventory mistakes can result in an inaccurate ending inventory balance, which has an impact on the cost of goods sold and profitability. One should be aware of the different kinds of errors that can happen in an inventory system given the negative financial statement impact of inventory errors.
Errors in the balance sheet's ending inventory value result in comparable errors in the income statement's cost of goods sold for the relevant period for the company. Inventory and net income are undervalued when cost of goods sold is exaggerated.
Therefore, option A is correct.
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Efficiency ratios:
A. include the quick ratio, asset turnover ratio, and return on equity.
B. are used to measure how well the company uses its assets.
C. are used to measure how liquid the company is.
D. measure the profits generated by a firm's equity and assets.
B. Efficiency ratios are used to assess how effectively a business uses its resources to produce sales and profits.
Efficiency ratios are used to gauge how effectively a business uses its resources to produce sales and profits. They include measures that gauge how effectively a business uses its assets to produce sales, such as the asset turnover ratio, inventory turnover ratio, and accounts receivable turnover ratio. Since it gauges the profitability of a company's equity investment rather than how effectively it uses its assets, return on equity is not regarded as an efficiency ratio. A measure of a company's capacity to satisfy short-term obligations with its most liquid assets, the quick ratio is a liquidity ratio.
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Suppose that a worker in Country A can make either 10 iPhones or 5 iPads each year. Country A has 100 workers. Suppose a worker in Country B can make either 2 iPhones or 10 iPads each year. Country B has 200 workers. Which of the following is true?
A) Country B should produce iPads and Country A should produce iPhones, and they could both benefit from trade.
B) Country B should produce iPhones and Country A should produce iPads, and they could both benefit from trade.
C) Neither country would benefit from trade because there is no comparative advantage at producing these goods.
D) Because Country B has an absolute advantage at producing iPads, it should specialize in their production.
The correct answer is option A) Country B should produce iPads and Country A should produce iPhones, and they could both benefit from trade.
To determine which country has a comparative advantage in producing a particular good, we need to compare the opportunity cost of producing that good between the two countries. The opportunity cost is the value of the next best alternative foregone when choosing a particular option.
In Country A, the opportunity cost of producing 1 iPhone is 0.5 iPads (10 iPhones/5 iPads). In Country B, the opportunity cost of producing 1 iPhone is 5 iPads (2 iPhones/10 iPads). Therefore, Country A has a lower opportunity cost for producing iPhones than Country B.
Conversely, in Country B, the opportunity cost of producing 1 iPad is 0.2 iPhones (2 iPhones/10 iPads). In Country A, the opportunity cost of producing 1 iPad is 2 iPhones (10 iPhones/5 iPads). Therefore, Country B has a lower opportunity cost for producing iPads than Country A.
Based on this analysis, Country A should specialize in producing iPhones and Country B should specialize in producing iPads. This would lead to both countries benefiting from trade by exchanging their surplus products.
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US companies regularly move their operations to other impoverished areas/countries where they can get cheap labor (people who will work for practically nothing to make products). Let's focus specifically on the people who live in those impoverished areas and the good for them when a US company shows up. Isn't a little money earned working for a US company better than no money whatsoever?
A stakeholder analysis-based approach to the consumer connection building that fosters long-term relationships while preserving, promoting, and improving environment.
What is a stakeholder?A stakeholder is any individual, group, or organization that is affected by or can affect the actions, decisions, or performance of an entity, such as a business, government, or non-profit organization. Stakeholders can include employees, customers, suppliers, shareholders, investors, government agencies, regulatory bodies, communities, and the environment. The interests, needs, and expectations of stakeholders may differ, and they can have varying levels of influence on an entity. Effective stakeholder management involves identifying, prioritizing, and engaging with stakeholders to understand their perspectives and concerns, and to develop strategies and actions that meet their needs and expectations while achieving the entity's objectives.
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While Peloton’s stationary bike and treadmill have been successful, companies need to continuously innovate to have long-term success (e.g., Apple didn’t just release the first iPhone and ride off into the sunset of permanent success). What types of innovations can Peloton pursue to ensure long-term revenue?
Read the scenario, and answer the following question. Joseph is working on his personal brand. After asking himself questions about his strengths, he's determined that his selling points are his facility with social media and his strong communication skills. He's now ready to write his tagline. Which tagline would be best for Joseph? O Excellent communicator with social media savvy O Communicator and social networker Very skilled at communicating with people in different ways with a particular talent for social media Once you've developed your tagline, you should create a business card, prepare an elevator speech, and build an online presence to complete your branding, What should you do as you prepare your elevator speech? Check all that apply. Keep it 60 seconds or under Describe who you are and what you can offer, Tweak your speech for your audience. Practice it until it feels natural.
The tagline that would be best for Joseph is "Very skilled at communicating with people in different ways with a particular talent for social media".
Social media has become an integral part of our daily lives, connecting people from all over the world through various platforms and networks. It has revolutionized the way we communicate, share information, and interact with each other. Social media allows individuals to express themselves, form communities, and engage in conversations on a global scale. It has also transformed the business landscape, providing companies with powerful tools to connect with their customers and promote their products and services. However, social media also poses certain risks and challenges, such as the Tax Services spread of fake news, cyberbullying, and the loss of privacy. Therefore, it is important to use social media responsibly and thoughtfully, taking into consideration the potential impact of our actions and words on others.
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Suppose producing a unit of good A requires 2 hours of labor and producing a unit of good B requires 4 hours of labor. The opportunity cost of good A is ----. If the world relative price of good A is 1, then this country will export ----.
A 1/2 unit of good B; good A
B 1/2 unit of good B; good B
C 2 units of good B; good A
D 2 units of good B; good B
Based on the provided information, the opportunity cost of good A is ½ unit of good B. If the world relative price of good A is 1, then this country will export good A. (Option A)
Opportunity costs are defined as the loss of the potential benefits when choosing one alternative over another. It is the forgone benefit that would have been obtained from an option not chosen. In order to assess the opportunity costs, the costs and benefits of every option available must be considered and compared.
Based on the provided in information, as a unit of good A requires 2 hours of labor and producing a unit of good B requires 4 hours of labor, the opportunity cost of good A is ½ unit of good B.
A relative price refers to the price of a product or service compared to the price of another product. Based on the provided information, as the relative price of good A is 1, which means the price of good A and B are equal and the price of product for good A is lower than good B, hence the country will export good A.
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On June 8, 2021, Holly purchased a residential apartment building. The cost basis assigned to the building is $256,250. Holly also owns another residential apartment building that she purchased on April 15, 2021, with a cost basis of $738.000
Holly's total depreciation deduction for the apartment 2021
$ 5053.794
Holly's total depreciation deduction for the apartment 2022 $ 9344.08
What is depreciation?Depreciation is the expected decrease in value of fixed assets over the course of a fiscal year. Large lump sum purchases are made for tangible assets like real estate, machinery, cars, and so forth.
As per MACRS table, usefull life of residential real property is 27.5 years.
a). Depreciation per table:
1st Residential building, June (*$256,250*1.970%) $ 5048.125
2nd Resendential building, Oct ($738.000*0.758%) $ 5.594
Holly's total depreciation deduction for the apartment 2021
$ 5053.794
b). Depreciation per table:
1st Residential building, June (*$256,250*3.636%) $ 9317.25
2nd Resendential building, Oct ($738.000*3.636%) $ 26.83368
Holly's total depreciation deduction for the apartment 2022 $ 9344.08
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Ret of the question is,
Click here to access the depreciation tables. Round your answers to the nearest dollar.
a. Calculate Holly's total depreciation deduction for the apartments for 2021 using MACRS. $ fill in the blank
b. Calculate Holly's total depreciation deduction for the apartments for 2022 using MACRS. $ fill in the blank
if you have started a business, or are doing a business where you do not expect to prepare a full business plan, a stand-alone marketing plan might be useful t/f
True, a stand-alone marketing plan might be helpful if you have just started a business or are doing something for which you do not plan to write a full business plan.
What should businesses start with when creating a marketing strategy?Describe your company's purpose. When writing a marketing plan, your mission should be stated first. Even though this mission is unique to your marketing department, it should support the main mission statement of your business. Be precise, but not too much.
Do small companies require a marketing strategy?Yes. If you want to get the most out of your marketing investment, you absolutely need a marketing plan. It doesn't have to take weeks or look fancy, but it does need your best thinking and effort.
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Harvey quit his job at at a university where he earned 45,000 a year. He figures his entrepreneurial talent or foregone entrepreneurial income to be 5,000 a year. To start the business, he cashed in 100,000 in bonds that earned 10% interest annually to buy a company. In the first year, the firm sold 11,000 units of software at 75.00 for each unit. Of the 75.00 per unit, 55.00 goes for costs of production, packaging, marketing, employee wages and benefits, and rent on a building. 1) What were the total revenue of Harvey's firm in the first year? A) 50,000 B) 100,000 C) 605,000 D) 825,000 2)The explicit costs of Harvey's firm in first year? A) 150,000 B) 605,000 C) 655,000
D) 825,000 3) The implicit costs of Harvey's firm in the first year? A) 50,000 B) 60,000 C) 100,000 D) 150,000 4) The normal profits for Harvey in the first year? A) 5,000 B) 160,000 C) 220,000 D) 780,000 5) The economic profits of Harvey's firm in the first year? A)155,000 B) 160,000 C) 220,000 D) 280,000
The total revenue of Harvey's firm in the first year is $825,000. The explicit cost is $605,000. The implicit cost is $50000. The Foregone entrepreneurial income=$5,000. Total profit=$170000.
What is the explicit cost?Explicit costs are regular business expenses that are recorded in the general ledger of a firm and have a direct impact on its profitability. Explicit costs are regular business expenses that are identifiable and traceable in accounting; they are recorded in the general ledger.
Depreciation—is it an explicit or implicit cost?Depreciation is a legitimate cost. Depreciation indicates the continual deterioration of assets that must be divided over a number of years, despite the fact that it has the property of being incurred like an implicit cost. Depreciation is actually acknowledged as an explicit expense rather than an implicit cost.
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which of the following actions by the federal reserve will tighten credit? i repurchase agreement ii reverse repurchase agreement iii matched sale a i only b ii only c ii and iii d i, ii, iii
The correct answer is (c) ii and iii, as both a reverse repurchase agreement and a matched sale can be used to tighten credit.
All of the actions listed - repurchase agreements, reverse repurchase agreements, and matched sales - can potentially be used by the Federal Reserve to tighten credit. A repurchase agreement, or repo, is a short-term borrowing agreement in which the Fed buys securities from a bank with an agreement to sell them back at a later date. This increases the bank's reserves and provides them with more funds to lend out, which can loosen credit. However, if the Fed were to use a reverse repurchase agreement, it would sell securities to a bank with an agreement to buy them back at a later date. This reduces the bank's reserves and takes funds out of circulation, which can tighten credit. A matched sale, or a sale and repurchase agreement, is similar to a reverse repo in that the Fed sells securities to a bank with an agreement to buy them back, but the maturity date is shorter. This can also be used to tighten credit. However, it is worth noting that the Fed has many tools at its disposal to influence credit conditions, and the specific actions it takes depend on a variety of economic factors and policy goals.
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jonathan owns 100% of lemon company (a calendar year entity). in the current year, lemon recognizes a long-term capital gain of $70,000 and no other income (or loss). jonathan is in the 37% tax bracket (and 20% tax bracket for any net capital gains or dividends) and has no recognized capital gains (or losses) before considering his ownership interest in lemon company. what is the income tax result from the $70,000 if lemon is (a) an llc and (b) a c corporation? a. if lemon is an llc: assuming no election has been filed under the check-the-box regulations, the tax on the $70,000 long-term capital gain is $fill in the blank b. if lemon is a c corporation: the tax on the $70,000 long-term capital gain is $fill in the blank
The income tax result from the $70,000 long-term capital gain for Jonathan if Lemon is a C corporation is $25,760 ($14,700 + $11,060).
a. If Lemon is an LLC, assuming no election has been filed under the check-the-box regulations, the tax on the $70,000 long-term capital gain is calculated as follows:
Lemon's long-term capital gain: $70,000
Jonathan's share of long-term capital gain (100%): $70,000
Taxable long-term capital gain: $70,000
Since Jonathan is in the 37% tax bracket for ordinary income and the 20% tax bracket for long-term capital gains, the tax liability would be calculated as follows:
Tax on ordinary income portion (37%): $0
Tax on long-term capital gain portion (20%): $14,000
Therefore, the income tax result from the $70,000 long-term capital gain for Jonathan if Lemon is an LLC is $14,000.
b. If Lemon is a C corporation, the tax on the $70,000 long-term capital gain is calculated as follows:
Corporate long-term capital gain: $70,000
Corporate income tax rate: 21%
Corporate income tax liability: $14,700 ($70,000 x 21%)
If Lemon distributes the remaining after-tax income to Jonathan as a dividend, Jonathan will be subject to a 20% tax on the dividend income. The dividend income would be calculated as follows:
After-tax income available for distribution: $55,300 ($70,000 - $14,700)
Dividend income: $55,300
Tax on dividend income (20%): $11,060
Therefore, the income tax result from the $70,000 long-term capital gain for Jonathan if Lemon is a C corporation is $25,760 ($14,700 + $11,060).
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According to this text's authors, Hill and Schilling, which of these would be considered an important step in a formal strategic management process?
a. Building the company's organizational chart of strategic leaders
b. Research and development into the company's first prototype product
c. Market research surveys of customer attitudes toward the recent product launch
d. Defining the company's corporate mission and major corporate goals
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According to this text's authors, Hill and Schilling, which of these would be d. Defining the company's corporate mission and major corporate goals Hide Feedback.
According to Hill and Schilling, defining the company's corporate mission and major corporate goals is an important step in a formal strategic management process. This step helps to create an outline of the company's vision and objectives, which will in turn inform the rest of the strategic management process.
It is important to establish a clear mission and set of goals so that the company can make strategic decisions that are in line with its desired outcomes. Without a clear mission and set of goals, the company may end up making decisions that don't work towards the desired outcome.
Additionally, this step helps to provide a sense of direction and purpose to the company, which can help to motivate employees and stakeholders to work towards meeting the company's objectives.
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which of the following sites in california are potential targets of a terrorist attack? disneyland the california aqueduct los angeles international airport all of the above
The sites in California that are potential targets of a terrorist attack are the international airports. The correct option is c.
What are the consequences of a terrorist attack?Terrorist attacks are attacks that are done by some group of people that destroy places and mankind.
Terrorist attacks are acts of violence or fatalities brought on by militant groups or terrorist organizations in an effort to sabotage national peace. It is among the most significant worldwide issues that require attention.
Therefore, the correct option is c, international airports.
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(Score 253.135 g 253.131 g 253.133 g 253.130 g 253.132 g 253.130 g 253.131 g 253.136 g 253.133 g 253.134 g Balance 2 was affected most by systemic error error that has a very specific cause or pattern: What was the pattern in Balance 2's measurements? The measurements were consistently high The measurements were consistently low The measurements alternated high and Iow There was no partern
Balance 2's readings were consistently high based on the information provided. This suggests a systematic inaccuracy as opposed to random error, which is probably brought on by a specific problem with the
The inquiry concerns the measurements made by Balance 2 that were impacted by a systemic mistake. The results were consistently high, which means that the inaccuracy was consistent and was probably brought on by a specific problem with the calibration or measuring mechanism of the balance. Different from random errors, which are unexpected and have a tendency to balance out over time, are systematic errors. The underlying reason must be found and fixed, such as by calibrating the balance or changing a defective part, in order to remedy the specific mistake in Balance 2's measurements. Future measurements may be made guaranteed to be precise and dependable
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Other things remaining constant, when demand for a good or service decreases, which of the following occur(s)?
-Equilibrium price decreases
- Equilibrium quantity decreases
When demand for a good or service decreases, equilibrium price decreases and equilibrium quantity decreases. The correct options are a and b.
What are demand and supply?
Demand is the things people want, and supply is the number of things available for the demand.
Price decreases when demand declines, and Price increases when supply declines. A rise in demand moves the demand curve to the right, while a fall in supply moves the supply curve to the left.
Therefore, the correct options are:
a. Equilibrium price decreases.
b. Equilibrium quantity decreases.
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The question is incomplete. The missing options are given below:
Equilibrium price decreases
Equilibrium quantity decreases
Equilibrium price increases
Equilibrium quantity increases
While the terms of the Regional Comprehensive Economic Partnership (RCEP) are still being negotiated, if the agreement achieves just a(n) __________ status, all barriers to the trade of goods and services among member countries will be removed.
A.) CUSTOMS UNION
B.) POLITICAL UNION
C.) FREE TRADE AREA
D.) COMMON MARKET
E.) ECONOMIC UNION
While the terms of the Regional Comprehensive Economic Partnership (RCEP) are still being negotiated, if the agreement achieves just a Free Trade Area (FTA) status, all barriers to the trade of goods and services among member countries will be removed.
What is free trade area?A Free Trade Area (FTA) is a type of trade agreement in which member countries agree to eliminate tariffs, quotas, and other trade barriers on goods and services traded among themselves, while each member maintains its own trade policies with respect to non-member countries. FTAs do not involve a common external tariff, a unified trade policy, or a common currency.
Customs Union, Common Market, Economic Union, and Political Union are all more advanced forms of economic integration that involve deeper levels of integration and policy coordination among member countries.
Therefore the correct option is C.
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Andrew is the manager of a pharma company considered to be a monopoly that faces a inverse demand curve described by P = 270 - 20Q. If costs are defied as C = 30Q + 5. Andrew's pharma firm's maximum profits are:a 751b 715c 580d 765
Profit for the corporation is thus P × Q = 174 × 4.8 = 765.
What does profit mean?A worthwhile reward: Gain is the difference between returns and expenses in a single or group of transactions. in particular: the difference between the sale value of items and their cost. 3. Usually, net income for a particular time period.
Are you earning a profit?Revenue refers to the total total of money received from sale of goods or services essential to a company's primary activities. The amount of money that is left over after deducting all costs, obligations, new sources of income, and operational costs is known as profit, that is also known as operating profit or perhaps the bottom line.
Since P = 270 - 20Q and C = 30Q + 5,
we obtain 270 - 20Q = 30Q + 5
when P = C.
240 = 50Q
Q = 4.8
P = 270 - 20(4.8)
P = 270 - 96
P = 174
P * Q at its highest = 174 * 4.8 = 765.
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Given an int variable count that has already been declared, write a for loop that prints the integers 50 through 1, separated by spaces. Use no variables other than count.Given an int variable count that has already been declared, write a for loop that prints the integers 50 through 1, separated by spaces. Use no variables other than count.
Use a while circle to print a single line of n asterisks. An int variable named n has formerly been declared and initialised to a positive value. Don't use any variables besides n.
When a condition isn't satisfied, a" While" circle is used to repeat a certain piece of law an undetermined number of times. For case, if we want to ask a stoner for a number between 1 and 10, but we do not know how frequently they might enter a lesser number, we keep asking" while the value isn't between 1 and 10." The necessary for- circle is given below
for(int count=1;count<=40;count++)
printf(" %d",count);
The for-explanation loop's
1.The count variable is initially initialised to 1, and in the following step, the for-loop condition is changed to "count=40".
2. "count++" is used to increase the count by 1 in the following step.
3. The variable count is finally displayed on the console.
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SAT Scores. In May 2018, The College Board reported the following mean scores for two parts of the Scholastic Aptitude Test (SAT): Evidence-Based Reading and Writing: 533 Mathematics: 527 Assume that the population standard deviation on each part of the test is s = 100.
In May 2018, The College Board reported---------------.So we would need a sample size of at least 384 to get a 95% confidence interval for the mean Evidence-Based Reading and Writing score with a margin of error of 10.
What is sample size?Sample size refers to the number of individuals or observations included in a sample taken from a larger population. In statistical analysis, sample size plays a crucial role in determining the accuracy and reliability of the results obtained from the sample.
A larger sample size generally leads to more accurate estimates of population parameters, such as the mean or standard deviation.
In the above case, we need at least 384 sample size to get 95% confidence interval for the mean Evidence-Based Reading.
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4. What do you think is the top reason you would consider a role in sales after graduation? What is the top reason you might not consider a role in sales? Find someone in your family or community who works in sales and ask that person to describe what he or she likes most and least about working in sales.
for each transaction, determine the amount of revenue or expense, if any, that is recorded under accrual-basis accounting and under cash-basis accounting in the current period.
The answer is, Accrual bases accounting is the accounting method demanded by the accounting standards. In it, revenue is recognized when it is earned and expenses when they are paid, rather than when the related cash flow takes place like in cash basis accounting.
How Do You Account?Accounting is the process of documenting a business's financial transactions. These transactions are compiled, examined, and reported to oversight organizations, regulatory bodies, and tax collection organizations as part of the accounting process.
What are the several types of accounting?It is the process of methodically documenting all of a business's financial transactions. It entails analyzing, compiling, and informing the tax authorities, agencies, and regulators of the financial transactions. A business's accounting is handled by an accountant.
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If I am given Cost of Goods Sold, Sales, Sales Discount, Salaries Expense and Tuition Revenue with a 12% Income Taxes what would the income statement look like. More particularly what part of the statement would the tuition revenue and taxes go?
Answer: Your welcome!
Explanation:
The income statement would include the following:
Revenues:
Sales
Tuition Revenue
Less: Sales Discounts
Gross Profit
Expenses:
Cost of Goods Sold
Salaries Expense
Income Tax Expense
Net Profit (Loss)
The tuition revenue would be reported under the Revenues section of the income statement and the 12% income tax expense would be reported under the Expenses section.
with regard to the life cycles observed in plants and animals, the two groups share the similarity of please choose the correct answer from the following choices, and then select the submit answer button. answer choices
All plants and certain algae use the third life-cycle type, which combines the haploid- and diploid-dominant extremes. Haploid and diploid multicellular organisms are both a component of the life cycles of species that have alternate generations.
Bryophytes, the second-largest category of land plants after flowering plants, are essential to our comprehension of the origins of early land plants. A increasing body of data currently supports liverworts as the sister group to all other groupings of land plants and the oldest diverging lineage of embryophytes.
Because animals and plants are born, develop into adults, reproduce, and then pass away, yet their offspring continue their own life cycles, a life cycle is frequently referred to as the circle of life.
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Using a Website created by the Sacramento Bee in 2008 that published the salaries of all California state employees, economists conducted research and found that
A) no employees seemed to be unsatisfied with their jobs or the salaries they were earning.
B) employees with above-median earnings were, surprisingly, the least satisfied with their jobs.
C) job satisfaction depends only on a person's salary.
D) knowing their co-workers' salaries affected employees' job satisfaction.
Option A is correct. This outcomes in low morale, excessive fees of body of workers turnover, subject hiring new talent, and litigation. Understandably, employees resent pay inequality, and extra and extra are disturbing action be taken to address the issue.
Pay equality troubles affect your workplace in more than one ways.
What is the study of salary satisfaction?According to Heneman and Schwab (1985), income pride is described as the degree to which personnel are relaxed with their modern salary. More specifically, personnel evaluate the efforts they make with the income they get and with others' profits and then decide how a lot efforts they will make at work.
Economic principle hence suggests that unions raise the wages of their individuals at the fee of decrease income and fewer jobs, that lower profits reason groups to invest less, and that unions have a smaller effect in competitive markets (where a union cannot achieve a monopoly).
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At the profit-maximizing price and quantity of output, the monopolist will realize profit of $42.00.
Profit in economics is just the difference between the revenues received by an economic entity's exports and the sum of all its raw material costs. It is equal to all earnings less operating expenditures, which includes include the direct and indirect costs. It's distinct from accounting profit, which only pertains to the costs that are explicitly stated on a bank's business accounts. Accounting profit is estimated by subtracting the company's entire revenue from its absorption costing. When examining a corporation, an economists takes into account all costs, including public and indirect. Profitability is therefore less than income statements.
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_____ can be another term used for a goal.
A. task
B. vision
C. business plan
D. objective
E. norm
Objective can be another term used for a goal. Option D. is correct.
An objective is a desired result that a person or business wants to achieve. It is a statement that outlines what needs to be done in order to reach that desired result.
Objectives are generally specific, measurable, attainable, relevant, and time-bound. They are also used to measure the success of a business or individual.
Objectives can be used to set long-term and short-term goals and can be used to assess progress toward those goals. Objectives can also be used to motivate individuals and teams to work towards a common goal.
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If the production technology of a good improves and at the same time the number of consumers willing and able to buy the good in the market increases, which of the following will definitely occur?
Equilibrium quantity will increase.
If the production technology of a good improves and at the same time the number of consumers willing and able to buy the good in the market increases then Equilibrium quantity will increase .
Option a is correct .
An increase in demand and a decrease in supply cause the equilibrium price to rise, but the effect on the equilibrium quantity cannot be determined. Consumers now value goods in any quantity, and producers must charge a higher price to supply goods; therefore the price goes up.
When production technology improves, supply increases and equilibrium: quantity increases and equilibrium price decreases. If TV sellers expect TV prices to fall in the future, we will likely see: an increase in the supply of TVs.
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The correct question is :
If the production technology of a good improves and at the same time the number of consumers willing and able to buy the good in the market increases, which of the following will definitely occur?
a. Equilibrium quantity will increase.
b. Equilibrium quantity will decrease
c. No effect
using the following diagram, identify and calculate total producer surplus if the price of oil is $50 per barrel.
In this diagram, the price of oil is $50 per barrel, and the quantity supplied is 8,000 barrels. We can calculate the total producer surplus by subtracting the total cost of production from the total revenue for all 8,000 barrels.
What is quantity?Quantity is a numerical measure of the size or amount of something. It can be used to refer to a specific amount of an item, or to the total amount of items that exist. In mathematics, quantity is a concept that describes a property of objects which can be quantified, such as mass, length, or time. Quantities can be measured and compared using different units, such as kilograms, meters, or seconds. Quantity can also refer to the amount of a certain item that is available, such as the quantity of food in a store or the number of people in a room.
Total Revenue = 8,000 x $50 = $400,000
Total Cost = 4,000 x $30 + 4,000 x $40 = $240,000
Therefore, Total Producer Surplus = $400,000 - $240,000 = $160,000
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) Estrella is a relatively inexperienced chef. Whenever she needs something for her kitchen, she thinks of Batter Up Cooking Supply. Estrella knows their products are easy to use for someone who is not an expert. This scenario best describes a company with a strong ________.
value proposition
competitive advantage
positioning strategy
perceptual map
This situation best characterises a firm with a compelling value proposition since they are providing customers with products that are simple to use even for non-experts and that address a particular need or want.
This situation most accurately depicts a business with a compelling value offer. A value proposition is a claim that details the special benefit that a business provides to its clients. Because its goods are simple to use and appealing to new chefs like Estrella, Batter Up Cooking Supplies has a great value proposition in this instance. A competitive advantage, which is a company's distinct edge over rivals, is distinct from a value proposition. Also, it differs from positioning strategy, which is the manner in which a business markets its goods. On the other hand, a perceptual map is a visual tool that aids in determining where a company's products stand in the market based on consumer perceptions.
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now suppose congress passes a new tax that decreases the income of new york city residents. if coffee is a normal good, this will cause the demand for coffee todecrease .