Answer:
Vertical marketing system.
Explanation:
A vertical marketing system (VMS) occurs when two companies come together, usually a wholesaler and retailer, to gain greater benefits to efficiently meet consumer demands.
In this system of union of companies, there is usually a large company and power to coordinate the activities of other parts of the channel, although there is union of organizations each part continues to carry out its own activities.
The main benefit of a VMS is the ability of the organization to control the production and sale processes of a good, which makes the process of anticipation of problems, and correction and optimization to keep up with market trends more effective.
Castille Corp. purchases, for $600,000, land upon which a building and a dilapidated shed are situated. Castille plans to use the building as-is for operations but immediately razes the shed at a cost of $5,000 minus scrap recovery of $1,000. A recent tax appraisal of the property allocated $100,000 to the land and $400,000 to the building. In the entry to record the acquisition of the property,
at what amount will Castille debit Land?
a. $124,000
b. $120,800
c. $120,000
d. $100,000
Answer:
b. $120,800.00
Explanation:
Cost of the land $ 600,000/-
Associated expenses:
Razing down the shed: $ 5000
income from scrap: $ 1000
Total expenses $ 4000
The total cost of land =600,000+4000= $ 604,000
Tax allocation: land and building $ 500,000
land allocation will be: 100,000/500,000 x$ 604,000
=0.2x604,000
=$120,800.00
Only people that earn wages from an employer must complete a tax return.
True
False
The given statement is false.
The following information should be considered:
In the case when a person earns or not earning it is compulsory to file the tax return. As it is a necessary thing which need to follow.Therefore we can conclude that The given statement is false.
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Horseshoe Stables is losing significant market share and thus its managers have decided to decrease the firm's annual dividend. The last annual dividend was $0.90 a share but all future dividends will be decreased by 10 percent annually. What is a share of this stock worth today at a required return of 15 percent?
Answer:
$3.24
Explanation:
Data provided in the question:
Last annual dividend, D0 = $0.90
Growth rate, g = -10% = - 0.10 (negative sign means decrease)
Required return, r = 15% = 0.15
Now,
Future dividend, D1 = D0 × (1 + r)
= $0.9 × (1 + (-0.10) )
= $0.81
Current worth of the stock = $0.81 ÷ ( 0.15 - (-0.10) )
= $0.81 ÷ 0.25
= $3.24
The _____, authorized by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act is charged with writing and enforcing rules covering consumer financial products and services including mortgages, credit cards, payday loans, loan servicing, check cashing, debt collection, and others.A. Consumer Product Safety CommissionB. Consumer Financial Protection BureauC. American Federation of LaborD. Bureau of Public Debt
Answer: B. Consumer Financial Protection Bureau
Explanation:
The Consumer Financial Protection Bureau was authorized by the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010 and was a response to the 2007-2008 financial crisis which was followed by great recession. They are responsible for consumer protection in the finance sector and their functions include; writing and enforcing rules and regulations covering consumer financial products and services including mortgages, credit cards, payday loans, loan servicing, check cashing, debt collection etc.
Neue Inc reports net income of $500,000; during the year, the company declared $100,000 in preferred stock dividends and had an average of 250,000 shares of common stock outstanding. Earning per share rounded to the nearest cent will be:
Answer:
1.60
Explanation:
($500,000 - $100,000)/250,000
If the average of 250,000 shares of common stock outstanding the earning per share is $1.60.
Using this formula
Earnings per share (EPS) =Net income -Preferred stock dividend )/Average shares of common stock outstanding
Where:
Net income=$500,000
Preferred stock dividend=$100,000
Average shares of common stock outstanding=250,000
Let plug in the formula
Earnings per share (EPS) =($500,000-$100,000)/$250,000
Earnings per share (EPS) =$400,000/$250,000
Earnings per share (EPS) =$1.60
Inconclusion the average of 250,000 shares of common stock outstanding the earning per share is $1.60.
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After reviewing the Law of Diminishing Marginal Returns, an economist would correctly conclude that in the short run: total production must fall after a certain point. price must fall after a certain point on the production function. the additional output of labor will eventually decrease as more workers are hired. wages of workers must eventually increase. the total cost will eventually fall after enough workers have been employed.
Answer:
The correct answer is: additional output of labor will eventually decrease as more workers are hired.
Explanation:
The law of diminishing return states that keeping other things constant if we go on increasing the quantity of one input, the marginal returns from that input will go on declining.
In other words, if we go on hiring an input the increase in output because of each additional input employed will go on declining.
For instance, keeping other things constant we go on hiring more and more workers the marginal product of workers or additional output created by each worker will go on declining.
Which of the following is the international coordinator of regulatory policy for the world and makes short-term loans to member countries with deficits and provides foreign currencies to its members?a. World Trade Organizationb. International Monetary Fund
c. World Bank
d. United Nations
e. Multinational corporation
Answer:
World Bank
Explanation:
One of the core objectives of the world bank is to bridge the gap between rich and poor countries. They achieve this by providing short term loans to member countries with deficit.
Establishing mutual aid agreements to obtain resources from neighboring jurisdictions is an example of which resource management activity ?
A. Acquiring, storing, and inventorying resources
B. Qualifying, certifying, and credentialing personnel
C. Planning for Resources
D. Identifying and Typing Resources
Answer: Option C
Explanation: In simple words, planning for resources refers to the activity of NIMS of management which helps in making strategies for resource management. Stock pilling resources and Mutual aid agreements are some of the many examples of it.
In planning for resources under mutual aid agreements two different countries agrees to exchange their resource in such a way that the utility from such resources could be derived to maximum.
Hence from the above we can conclude that the correct option is C .
The activity of establishing mutual aid agreements to obtain resources from neighboring jurisdictions is known as Planning for Resources. This part of resource management involves preparing for the resources that may be required in different situations and making formal arrangements with other organizations or jurisdictions for mutual assistance.
Explanation:Establishing mutual aid agreements to obtain resources from neighboring jurisdictions is an example of the resource management activity known as C. Planning for Resources. This entails preparing in advance for the resources that may be required in specific situations. In this context, 'resources' can refer to anything from personnel and equipment to supplies and facilities.
An integral part of resource management involves knowing what resources are available, where they are located, and how to obtain them. Mutual aid agreements are a method used to ensure resources are accessible when needed. They typically involve formal arrangements between organizations or jurisdictions to assist one another on a reciprocal basis.
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Danny's boss is apathetic to whether Danny works at home, at the office, or from his beach house. All he cares about is that the project is completed on time, on budget, and with exemplary quality. Which characteristic of organizational culture describes this aspect of Danny's job?
A) low risk taking
B) high outcome orientation
C) high attention to detail
D) low aggressiveness
E) high stability
Answer:
B) high outcome orientation
Explanation:
For high outcome orientation organizational cultures, the final results are the most important thing. High achievement is very valued, and the actions taken to fulfill the goals are secondary. Only the final outcome counts.
This type of organization is usually more effective than means oriented organizations (where how work gets done is more important).
Through shared values, organizational cultures can informally do all the following EXCEPT:
a. determine how people are treated, controlled and rewarded.
b. eliminate politics in the workplace
c. establish how cooperation, competition, conflict and decision making are handled.
d. motivate the ethical actions and communications of managers and subordinates.
Answer:
B
Explanation:
Organizational culture includes an organization’s expectations, experiences, philosophy, as well as the values that guide member behavior, and is expressed in member self-image, inner workings, interactions with the outside world, and future expectations. Culture is based on shared attitudes, beliefs, customs, and written and unwritten rules that have been developed over time and are considered valid (The Business Dictionary).
Organizational culture has to do with the culture of the firm, hence, it cannot eliminate politics in the workplace.
Your boss asks you to email a spreadsheet that shows what the company owns and what it has borrowed (owes) at a fixed point in time and shows the net worth of the business. When sending the email, you MOST LIKELY will attach the file named ________.
Answer:
The balance sheet represents the total assets of the company and how they are funded, whether through equity or by debts.
Explanation:
Balanced sheet
A balance sheet is an annual report of finance that accounts at a particular time on the funds, debts or on equity of any corporation and lays the foundation of calculations for calculating return rates and determining its financial performance of the company.
The balance sheet represents the total assets of the company and how they are funded, whether through equity or by debts.
Answer: balance sheet
Explanation: In simple words, balance sheet refers to the financial statement that is prepared by the organisation to depict its market position at a specific point of time, generally at the end of the year.
In balance sheet, the accountant shows the amount of assets that a company owns at that point of time, and the liabilities and capital in the business.
In the given case, the boss wants us to show how much a company owns and owes at a fixed point. Hence we can depict that by using balance sheet.
When pay is made public, people evaluate how equitable their pay is in light of the pay other people are receiving. The problem in this case is that Dwight and Guillermo have found out that others are getting paid more than they do for the same work. What are they likely to do under these circumstances? Check all that apply.
A. Try to convince the coach to give them more money
B. Come to more practices
C. Quit the team
D. Attend fewer practices
Answer:
A , C, D
Explanation:
Answers:
A: Try to convince the coach to give them more money
C: Quit the Team
D: Attend fewer practices
When pay is made public, people assess the fairness of their pay relative to others. Dwight and Guillermo may try to convince the coach for a raise, attend more practices, or quit the team if they perceive the pay inequality as unjust.
Explanation:When pay is made public, people evaluate the equity of their pay in comparison to others. In the case of Dwight and Guillermo finding out that others are getting paid more for the same work, there are a few possible reactions:
Try to convince the coach to give them more money: They may approach the coach and present their case for a raise. Come to more practices: They may believe that attending more practices will demonstrate their commitment and performance, potentially influencing their pay. Quit the team: If they feel strongly about the inequity, they may decide to leave the team. Learn more about Pay equity here:
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In 2016, Sarah (who files as single) had silverware worth $10,000 (basis $6,000) stolen from her home. Sarah's insurance company told her that her policy did not cover the theft. Sarah's other itemized deductions last year were $2,000. She had AGI of $30,000 last year. In August of 2017, Sarah's insurance company decided that Sarah's policy did cover the theft of the silverware and they paid Sarah $5,000. Determine the tax treatment of the $5,000 received by Sarah during 2017.
a. $5,000 should be included in gross income.
b. Last year's return should be amended to include the $5,000.
c. None of the $5,000 should be included in gross income.
d. $2,900 should be included in gross income.
e. None of these choices are correct
Answer:
C) None of the $5,000 should be included in gross income.
Explanation:
During 2016, Sarah's itemized deductions (other than the stolen silverware) were only $2,000. If Sarah wanted to deduct the stolen silverware, she could have taken a casualty loss = $6,000 - $100 - $3,000 = $2,900. Her total itemized deductions would equal $2,000 + $2,900 = $4,900.
But during that year, Sarah should have opted for a standard deduction of $6,300 which is higher than her itemized deductions. That means that Sarah didn't claim any deduction for her silverware, so any money received from the insurance company should not be included in her gross income.
Final answer:
Option D is correct: $2,900 of the $5,000 reimbursement Sarah received in 2017 should be included in her gross income as it represents the amount previously deducted and provided a tax benefit in the prior year.
Explanation:
The tax treatment of the $5,000 received by Sarah due to the theft of her silverware, which was initially not covered by her insurance in 2016, should be assessed based on the tax rules concerning recoveries. When Sarah had her silverware stolen, she likely took a casualty loss deduction for the theft, reducing her taxable income.
The amount of the loss would have been the lesser of the silverware's adjusted basis ($6,000) or its fair market value ($10,000), minus insurance reimbursements and a $100 reduction. As Sarah did not receive any insurance reimbursement in 2016, and given her AGI was $30,000, the loss would be subject to a further reduction of 10% of her AGI. Therefore, the deductible loss would calculate as follows: ($6,000 - $100) - ($30,000 x 0.10) = $4,900.
In 2017, Sarah received a reimbursement of $5,000. According to U.S. tax law, if a taxpayer receives reimbursement in a year subsequent to the deduction, the taxpayer must include the reimbursement in gross income to the extent it provided a tax benefit. Since the entire $4,900 provided a tax benefit last year, only that portion of the $5,000 reimbursement is reportable as income. The remaining $100 is not included because it did not provide a tax benefit.
Therefore, option D is correct: $2,900 should be included in gross income.
Peggy accepts a job offer as an advertising copywriter. Her boss immediately assigns her campaigns for products such as makeup and cleaning products. Peggy asks for different clients, but her boss tells her she should stick to what she and "her kind" know best. Peggy is experiencing: A. Sexism B. Homophobia C. Masochism D. Sexual orientation
Answer:
Sexism
wich is a discriminatory attitude of someone who underestimates people of the opposite sex.
It also distinguishes betwen the 2 sex
Peggy is experiencing Sexism, a form of discrimination where one is treated unfairly because of their sex or gender. The boss implies women should stick to topics they allegedly know best, thus suggesting limited knowledge and capability, which is clearly sexist.
Explanation:In the scenario described, Peggy is experiencing Sexism. Sexism is a discriminatory behavior where a person or group is unfairly treated based on their sex or gender. This frequently manifests in the workplace and can take many forms. In this case, Peggy's boss suggests that because she is a woman, she should only work on campaigns for products typically associated with women - such as makeup and cleaning products. His comment suggesting she stick to what 'her kind' know best, implies he believes women are only capable or knowledgeable about certain subjects, which is a clear case of sexism.
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Manning Company purchased a factory for $120,000. The factory included land, a building, and equipment. The land contributes 40.8%, the building contributes 49.6%, and the equipment contributes 9.6% of the factory’s value. How much of the cost should be assigned to the building?
Answer:
$59,520
Explanation:
Data provided in the question:
Purchasing cost of the company = $120,000
Particular Contribution
Land 40.8%
Building 49.6%
Equipment 9.6%
Now,
The cost that should be assigned to the building
= Purchasing cost of the company × Percentage Contribution of Building
= $120,000 × 49.6%
= $59,520
The cost assigned to the building that Manning Company purchased is calculated by multiplying the total cost by the percentage that corresponds to the building, which equals to $59,520.
Explanation:The Manning Company purchased a factory for $120,000, with the building contributing 49.6% of the factory's value. To find out how much of the cost is assigned to the building, you would multiply the total cost of the factory by the percentage that corresponds to the building. In this case, it would be $120,000× 0.496 (49.6% in decimal form) which equals to $59,520. Therefore, the amount of the cost that should be assigned to the building is $59,520.
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Suzanne is excited about a Black Friday sale in which big-screen TVs are advertised for only $400. However, when she gets to the store, they tell her that they ran out of these "special price" TVs and now only have the same TV but for $800 instead. Suzanne is disappointed, but still agrees to the higher priced item. Which persuasion technique is at play in this example?A. a fear appealB. foot-in-the-doorC. the lowball techniqueD. door-in-the-face
The market researchers at HoneyCamp Foods gather daily sales data and sort it by product line and region. With the help of sophisticated tools and techniques, they develop the data needed by marketing managers to evaluate the market share of the company's different products and also to gain valuable market insights. This mix of people and procedures at HoneyCamp Foods that generate actionable marketing insights represents a(n)_____________.
Answer:
Marketing information system.
Explanation:
By the definition of renowned marketing scholar Philip Kotler, a marketing information system is an information system that collects, selects, and analyzes relevant information to support the decision-making process of marketers.
This system functions as a cycle that systematizes internal and external organizational data to provide alternatives and determine future trends that may aid marketing team decision making.
To reduce the cost of collecting its accounts receivable, a company sells its accounts receivable to a financial organization. The service is called__________.
Answer: Debt Factoring
Explanation: Debt factoring is when a company sells it's outstanding accounts receiveable to a financial organization who will then collect this debt on the company's behalf. This financial organization will then pay the company the portion of the total debt it is able to collect, minus it's portion it charged the company as a fee.
This service usually occurs on difficult outstanding debtors, and the company is aware that it will not receive the total debt that it sells to the financial organisation, i.e. certain debt will be written off as bad debt.
Factoring is the service where a company sells its accounts receivable to a financial organization to reduce the cost and time spent on collections, while also improving cash flow.
Explanation:To reduce the cost of collecting its accounts receivable, a company sells its accounts receivable to a financial organization. This service is called factoring. Factoring allows a company to receive immediate cash for its receivables, which can be important for cash flow management, especially for small or growing businesses. This arrangement may also include the financial organization taking over the task of collecting on the receivables, thus saving the company time and administrative costs associated with collections. In the context of financial services and credit management, factoring is an essential tool for companies that need to manage their accounts and maintain healthy financial operations.
Irving Fisher took the view that the institutional features of the economy which affect velocity change ________ over time so that velocity will be fairly ________ in the short run.
A) rapidly; erratic
B) rapidly; stable
C) slowly; stable
D) slowly; erratic
Answer:
C) slowly; stable
Explanation:
Velocity is defined as the rate of turnover of money.
Velocity = Nominal aggregate income / money supply
Irving Fisher posited that the factors that affect velocity are institutions that impact how transactions are conducted. According to him, institutional factors that affect the velocity of money change slowly. Therefore, in the short run, velocity is fairly stable.
The correct answer to the student's question is C) slowly; stable, reflecting Irving Fisher's view on the change in velocity of money over time being gradual, contributing to its stability in the short run.
Explanation:Irving Fisher took the view that the institutional features of the economy which affect velocity change slowly over time so that velocity will be fairly stable in the short run. The correct answer is C) slowly; stable. This perspective aligns with the idea that in the short run, velocity can be quite unpredictable and the stability of velocity in the long run is a key assumption of the Quantity Theory of Money. Despite this, the experiences in the 1980s through the 2000s showed that the velocity of M2 varied, leading to debates about the predictability and stability of velocity as a measure and thus its impact on monetary policy decisions. Monetarists claim that while velocity can be erratic in the short term, in the long term it tends to stabilize.
Moon, a farmer, needs to install a two-thousand-pound piece of equipment in his barn. This will require lifting the equipment thirty feet up into a hayloft. Moon goes to Davidson Hardware and tells Davidson that he needs some heavy-duty rope to be used on his farm. Davidson recommends a one-inch-thick nylon rope, and Moon purchases two hundred feet of it. Moon ties the rope around the piece of equipment; puts the rope through a pulley; and, with a tractor, lifts the equipment off the ground. Suddenly, the rope breaks. The equipment crashes to the ground and is severely damaged. Moon files a suit against Davidson for breach of the implied warranty of fitness for a particular purpose.
What law has many rules governing warranties of goods?
a. Uniform Transactions Code
b. Uniform Sales Code
c. Uniform Commercial Code
d. Uniform Goods Code
Answer: c) Uniform Commercial Code
Explanation:
it has different articles e.g for sales of goods, warranties and disclaimer (seller assuring buyer of the quality of product). And this is what has transpired between Moon and Davidson
Mandy and Timothy exchange equipment in a like-kind Exchange. Mandy receives equipment with a fair market value of $28,000 and transfers equipment worth $20,000 (adjusted basis of $14,000) and cash of $8,000. What is Mandy’s realized and recognized gain?
Answer:
Realized gain of Mandy will be $6000
Explanation:
We have given Mandy receives equipment with a fair market value of $28000
Adjusted basis = $14000+$8000 = $22000
We have to find the Mandy realized gain
So Mandy realized gain is given by
Realized gain = market value - adjusted basis = $28000 - $22000 = $6000
So the realized gain of Mandy will be $6000
Suppose that under your health insurance policy, hospital expenses are subject to a $1,500 deductible and $300 per day copay. You get sick and are hospitalized for 5 days, and the bill (after insurance discounts are applied) comes to $7,000. How much of that hospital bill will you have to pay yourself
Answer:
$3,000
Explanation:
The patient is responsible for paying the deductible (amount of money the insured has to pay before the insurance company starts paying) and the daily copay (fixed amount that the patient has to pay):
deductible: $1,500
5 days copay: 5 x $300 = $1,500
total = $1,500 + $1,500 = $3,000
The Isberg Company just paid a dividend of $0.75 per share, and that dividend is expected to grow at a constant rate of 5.50% per year in the future. The company's beta is 1.15, the market risk premium is 5.00%, and the risk-free rate is 4.00%. What is the company's current stock price, P0? a. $18.62 b. $19.08 c. $19.56 d. $20.05 e. $20.55
Answer:
option (a) $18.62
Explanation:
Data provided in the question:
Dividend just paid, D0 = $0.75
Expected growth rate, g = 5.50%
Company's beta = 1.15
Market risk premium, Rm = 5.00%
Risk-free rate, Rf = 4.00%
Now,
D1 = D0 × ( 1 + g)
= $0.75 × ( 1 + 5.5% )
= $0.79125
Required rate of return = Rf + ( beta × Rm )
= 4.00% + ( 1.15 × 5.00% )
= 4.00% + 5.75%
= 9.75%
Also,
Stock price = D1 × ( R - g )
therefore,
Current stock price = $0.79125 ÷ (9.75% - 5.50%)
= $0.79125 ÷ 0.0425
= $18.617 ≈ $18.62
Hence,
The correct answer is option (a) $18.62
Pavers Inc. contracts to buy some heavy equipment from Earthmovers, Inc. Before either party performs, Earthmovers sells its assets to Excavation Corporation. On learning of the sale, Pavers is concerned about its contract with Earthmovers. Pavers should:
Answer:
Pavers should demand some assurance of performance from the seller.
If Excavation only bought Earthmovers assets and not the whole company, then Pavers should request Earthmovers to give assurance of performance.
The problem that Pavers faces is that when companies only sell their assets and not the whole company, they usually do it because their liabilities are too high and it's not certain that they will keep operating. That way the buyer (Excavation) gets the assets and the seller (Earthmovers) the liabilities.
Pavers Inc. should review the contract for assignment clauses, seek written assurance from Excavation Corporation, consult a lawyer, and monitor performance to protect its interests after Earthmovers sells its assets.
Pavers Inc. has a legitimate concern regarding its contract with Earthmovers, Inc., especially after Earthmovers sells its assets to Excavation Corporation. In contract law, this type of scenario involves the assignment of rights and delegation of duties to another party. It is important for Pavers to know that unless the contract explicitly prohibits assignment, Excavation Corporation can assume Earthmovers' contractual obligations.
Here are the steps Pavers Inc. should take:
Review the Contract: Check for any clauses that address assignment and delegation. If there are restrictions, Earthmovers might be in breach.Seek Written Assurance: Pavers should request written confirmation from Excavation Corporation that they will honor all terms of the original contract.Consult a Lawyer: It’s advisable for Pavers to consult with a legal expert to explore their rights and remedies under the contract.Monitor Performance: Ensure that Excavation Corporation performs as stipulated in the contract. Document any deviations or failures to perform.By following these steps, Pavers can protect its interests and ensure that the contracted terms are fulfilled even after the sale of assets.
At December 31, 2018 and 2019, Frist Company had outstanding 50 million common shares and 4 million shares of 10%, $10 par cumulative preferred stock. Net income for 2019 was $20 million. No dividends were declared in 2018 or 2019. EPS for 2019 was:
Answer:
The EPS for 2019 was $0.32
Explanation:
A Net Income $20,000,000
B No. of preferred Stock shares $4,000,000
C Par value per share $10.00
D = C*10% Dividend per share (10%) $1.00
E = B*D Preferred Dividend $4,000,000.00
F = A - E Net Income(Common Stockholders) $16,000,000.00
G Number of share(common stock)outstanding 50,000,000
H = F - G Earning per share for 2019 $0.32
Therefore,The EPS for 2019 was $0.32
Answer:
Eet
Explanation:
If Stan and Marcus, a new trainee at the manufacturing plant, are working together to resolve an issue on the line, they would be using joint problem solving as a means of transferring Stan's tacit knowledge to Marcus.A. TrueB. False.
Answer:
TRUE
Explanation:
Working together, both sides can share ideas and knowledge to generate an optimizing result. In the narrated case, Stan was already a company employee and Marcus is a trainee. Thus, Stan is expected to have accumulated knowledge about the characteristics of the type of project they are working on. Thus, it is natural and expected that Stan will transfer tactical knowledge to Marcus. However, this does not prevent Marcus from giving suggestions for improving plant processes. Thus, together they can produce a more efficient result for the factory.
The marginal revenue received by a firm in a perfectly competitive market:____a.is greater than the market price.b.is less than the market price.c.is equal to its average revenue.d.increases with the quantity of output sold.
Answer:
C. Is equal to its average revenue.
The marginal revenue received by a firm in a perfectly competitive market is equal to its average revenue, which means it is always equal to the market price, reflecting the characteristic of firms in such markets as price takers.
Explanation:The marginal revenue received by a firm in a perfectly competitive market is equal to its average revenue. In a perfectly competitive market, the price of the product does not change with the production of an additional unit. Therefore, marginal revenue, which is the additional revenue gained by producing one more unit, is calculated by dividing the change in total revenue by the change in output quantity,
Therefore, marginal revenue for a perfectly competitive firm is always equal to the market price and does not vary with the quantity of output sold. This scenario helps in understanding how perfect competition works, where firms are price takers, meaning they accept the market price determined by the supply and demand forces.
Of the following, which most closely describes the method by which companies engage and create benefits for their customers?
A. Supply chain
B. Value delivery network
C. Marketing channel
D. Customer relationship management
E. Channel level
Answer:
D. Customer relationship management
Explanation:
Customer relationship management is the approach that companies use to interact with its customers and this approach analyze customer interactions to improve its relationships with them and create benefits for their customers, As this leads to increased sales and profits.
A maple sugar manufacturer wants to estimate the average trunk diameter of Sugar Maples trees in a large forest. There are too many trees to list them all and take a SRS, so he divides the forest into several hundred 10 meter by 10 meter plots, selects 25 plots at random, and measures the diameter of every Sugar Maple in each one. This is an example of a _______.
a. multistage sample
b. stratified sample
c. simple random sample
d. cluster sample
e. convenience sample
Answer:
d. cluster sample
Explanation:
Cluster sampling is characterized as a sampling method which various clusters of individuals are generated from a population where they are representative of homogeneous features and have equal opportunities to be component of the sample.
A simple random sample is generated from the various clusters in the population in this sampling method.
The sampling method where the forest is divided into plots and a random selection of those plots have every Sugar Maple measured is an example of cluster sampling.
Explanation:The situation you've described, where a maple sugar manufacturer divides a large forest into several hundred 10 meter by 10 meter plots and then selects 25 plots at random to measure the trunk diameter of every Sugar Maple in each one, is an example of a cluster sample. In cluster sampling, the population is divided into clusters (in this case, the 10m x 10m plots), and a random selection of these clusters is made. All members (Sugar Maple trees, in this situation) within the chosen clusters are then studied. This method is different from a simple random sample (SRS) where each individual in the population has an equal chance of being selected, and different from a stratified sample which involves dividing the population into strata and sampling each stratum proportionally.
Suppose individuals wish to obtain the most accurate comparison of living standards between the US and Saudi Arabia. To do so, one would convert Saudi Arabian output into dollars using__________.
A) the current nominal exchange rate.
B) the current real exchange rate.
C) the prior year's real exchange rate.
D) an average of the last five years' exchange rates.
E) purchasing power parity methods.
Answer:
Purchasing power parity methods
Explanation:
Purchasing power parity (PPP) method compares the productivity and the standards of living between countries by using the 'basket of goods approach'. The basket approach implies a determination of the quantity of money needed to purchase a common unit(basket) of goods and services in different countries. Two countries will be said to be at par if a 'basket of goods' costs the same considering the exchange rates.
Cost of living and the inflation rate in a country determine the purchasing power of its currency. Purchasing power parity attempts to equalize different currencies by considering inflation and purchasing power in each country.