Final answer:
To calculate total revenue and total cost, multiply the selling price by the number of units sold and add fixed costs and variable costs for each output level. Marginal revenue is the change in total revenue divided by the change in quantity, and marginal cost is the change in total cost divided by the change in quantity. The profit maximizing quantity is where marginal revenue equals marginal cost.
Explanation:
In order to calculate the total revenue and total cost for each output level, we can use the given information. The total revenue is calculated by multiplying the selling price by the number of units sold. The total cost is calculated by adding the fixed costs and the variable costs for each output level.
To find the marginal revenue and marginal cost, we can calculate the change in total revenue and total cost when one unit is produced. The marginal revenue is the change in total revenue divided by the change in quantity, and the marginal cost is the change in total cost divided by the change in quantity.
To find the profit maximizing quantity, we need to find the output level where marginal revenue equals marginal cost. This is the point where the additional revenue from producing one more unit equals the additional cost.
An entrepreneur sells $15,000 worth of sports memorabilia during one year and sets a goal of increasing annual sales by $6000 each year for the next 9 years. Assuming that the entrepreneur meets this goal, find the total sales during the first 10 years of this business.
Answer:
Forecasted sales: 25% maximum reduction. Recommendations: try new ways to increase sales during the months left, or reduce its own cost.
Explanation:
If sales usually increase between March 1 and June 30, and this period accounts for 50% of annual revenue, if revenue is proportional to sales, a reduction in sales will reduce revenues.
Between March 1 and June 30 there are 4 months.
If sales usually pick up in March and this year they were low until the beggining of May, it means that only 2 of the 4 most productive months were higly productive.
If 50% of sales are concentrated in this 4 months, and this year 2 of the 4 months were not really productive, a maximum 25% of sales (and hence of revenues) may have lost.
Therefore, revenues may lower by 25% this year.
To avoid losses, it is advisable to try new ways to increase sales during the months left, that can consist on doing some advertisement and promotions (related to health care linked to exersice for example), that helps increasing sales in the months left, to compensate the looses of the 2 months. If sales cannot be increased, it is advisable to reduce cost to avoid further looses.
Dieman Dealers has an investment in Tommy Corporation bonds that Dieman accounts for as a trading security. Tommy Corporation's bonds are publicly traded and the prevailing market price indicates that Dieman's investment is worth $20,000. However, Dieman management believes that the bond market is generally overvalued, and their analysis of the Tommy investment suggests to them that it is worth $18,000. Dieman should carry the Tommy investment on its balance sheet at:
Answer:
$20,000
Explanation:
The reason is that the standard specifically addresses the issue and says that the publicly trading security must be recorded at the market price not on the management estimation. If it was allowed we would never see a loss in the financial statement because everyone would argue that our management estimation says that the asset is worth $1 million more than the current market price. So this is prohibited by the accounting standards.
A favorable direct labor efficiency variance might indicate that A. lower skilled workers were paid a lower wage than expected. B. lower skilled workers were paid a higher wage than expected. C. higher skilled workers were used that performed the task slower than expected. D. higher skilled workers were used that performed the task faster than expected.
Answer:
D. higher skilled workers were used that performed the task faster than expected.
Explanation:
Labor efficiency variance gives the relationship between the number of direct labor hours you budgeted and the actual hours worked for by the staff.
A favorable direct labor efficiency variance might indicate that higher skilled workers were used that performed the task faster than expected and thus resulting in higher profits.
Applepom, a multi-national restaurant chain, follows different pricing policies and serves different types of cuisine depending on the region it operates in. The company has separate departments for the Middle East, other Asian countries, Russia, other European countries, North America, Latin America, Oceania, and Africa. In this scenario, which of the following organizational structures does Applepom most likely follow?
A) Geographic departmentalization.
B) Functional departmentalization.
C) Customer departmentalization.
D) Product departmentalization.
Answer:
A. Geographic departmentalization
Explanation:
Geographic departmentalization has to do with the categorization of activities along geographical lines or territory. It involves grouping activities in an organization so as to meet cultural, social and political need of the region or territory it finds itself in. In this case, applepom uses geographic departmentalization for their various restaurants in order to serve the local cuisines at the local prices thereby meeting the cultural and social need of each location.
Answer:
A) Geographic departmentalization.
Explanation:
Departmentalization is the process of grouping various activities into departments.
Geographic departmentalization is the process in which activities are grouped based on where they are located. This is done grouping a company activities based where it is located in. This type of departmentalization is usually practice by multinational companies allowing them to hire employees at the different geographical locations for different customers.
Blake has managed several restaurants for over 50 years and is close to retirement. With his maturity and business experience, his decisions are sound, based on solid, proven values. Blake tends to be an independent thinker who focuses on empowering his employees. Blake managers at Kohlberg's _____ level of personal moral development.
A. unconventional
B. preconventional
C. nonconventional
D. conventional
E. postconventional
Answer:
E. postconventional
Explanation:
Blake is at a postconventional level of personal moral development according to Kohlberg's model.
In the postconventional level of moral development, people have established personal ethical and moral ideals, and live by those, not necessarily by what is established within a society.
For this reason, they may hold unusual views, and Blake is described in the question as being an independent thinker, which is consistent with the characteristics of this stage.
You want to have $1 million in your savings account when you retire. You plan on investing a single lump sum today to fund this goal. You are planning on investing in an account which will pay 7.5 percent annual interest. Which of the following will reduce the amount that you must deposit today if you are to have your desired $1 million on the day you retire?I. Invest in a different account paying a higher rate of interest.II. Invest in a different account paying a lower rate of interest.III. Retire later.IV. Retire sooner. A. I onlyB. II onlyC.I and III onlyD. I and IV onlyE. II and III only
Answer:
C. I and III only
Explanation:
Base on the scenario been described in the question, since I want to have one million dollars in my savings account when I retire, the best thing to do is to invest in a different account that pays high interest, this would enable me to easily reach my target of having $1million in my savings account quickly, and retiring later will also enable me to have more time for my investment to grow to meet my $1milloin target. So I and III are the best option
A company purchased new equipment for $42,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $2,200; sales tax paid $3,000; and installation cost, $3,400. The cost recorded for the equipment was:
Answer:
The cost of the equipment recorded is $50,600
Explanation:
In this question, we are to calculate the amount recorded for an equipment purchased by a company.
To calculate this amount, we simply add the original cost and all other costs incurred to get the equipment in place.
Mathematically we have ;
42,000 + 2,200 + 3,000 + 3,400 = $50,600
Automated transactions for B2B e-commerce where the suppliers are able to automatically send data about shipments to purchasing firm and the purchasing firm able to provide production and inventory requirements and payment data to suppliers represent the companies using
Answer:
EDI
Explanation:
The companies use the Electronic Data Interchange in order to automatically send the data without the need for the form to do any type of shipment for the purchasing firm.Thus be able to provide the production and inventory needs with the payment data thud saving the time and the cost involved in the processing. Hence the B2B transaction can be easily done through this method of the E-commerce and is a simple and effective method of providing valuable data to any organization.Question 1 (1 point)
If you have $350 income as your "take-home pay", you have fixed and variable expenses of $275, and you pay $25 into your
savings account, how much will you have as discretionary income?
Answer: $75
Explanation:
After deduction all expenses and taxes, the balance left either at hand or in bank is the discretionary income.
Final answer:
To determine discretionary income, subtract total expenses and savings from your take-home pay, leaving you with $50 for personal use.
Explanation:
To calculate your discretionary income, you need to subtract your total expenses and savings from your take-home pay. Here is the step-by-step process:Start with your take-home pay: $350.Subtract your fixed and variable expenses: $350 - $275 = $75.Subtract the amount you pay into savings: $75 - $25 = $50.The result, $50, is your discretionary income. This is the money you have left for personal spending after accounting for all your obligations and all your savings.
Without middlemen like Travelocity, Orbitz, and other travel Web sites, a consumer would have to check all airline Web sites in order to find the flight with the best connection or lowest price. The introduction of middlemen in business models is an example of ________.
Answer: The introduction of middlemen in business models is an example of REINTERMEDIATION.
Explanation: REINTERMEDIATION can be defined as the introduction of an agent acting as a mediator between a producer and the consumer.
An example can be a bakery that sells products directly adding retailer to help in the sale of their products. Which is also the case in the question whereby the travel websites are the intermediary between the airlines and the customers.
Travel websites act as middlemen by facilitating market exchanges and helping consumers to compare options easily, reducing the need to visit each airline's site.
The introduction of middlemen in business models, such as Travelocity, Orbitz, and other travel websites, is an example of market facilitation. Middlemen facilitate exchanges by aggregating information and goods, making it easier for consumers to compare and purchase what is available in the marketplace without the need to individually visit all suppliers or service providers. This is particularly evident in scenarios where large incumbents may use pricing strategies to outcompete new entrants, only to raise prices again once the competition is eliminated.
Studies indicate that the price elasticity of demand for cigarettes is about 0.4. If a pack of cigarettes currently cost $2 and the government wants to reduce smoking by 20%, then by how much should it increase the price?
Answer:
Government should increase the price from $2 to $3.
Explanation:
Price elasticity of demand is calculated by dividing percentage change in quantity demanded by the percentage change in price.
Therefore:
Price elasticity of demand = [tex]\frac{percentage change in quantity demanded}{percentage change in price}[/tex]
From the question, we see that the price elasticity of demand for cigarettes is about 0.4.
Percentage reduction in quantity demanded = 20%
Percentage reduction in price = x
We calculate thus:
0.4 = 20/x
0.4x = 20
x = 20/0.4
x = 50
Percentage reduction in price is therefore 50%
This means that government should increase the price from $2 to $3.
To achieve a 20% reduction in demand for cigarettes with a price elasticity of 0.4, the price per pack needs to increase by 50%, raising the cost from $2 to $3.
The student's question involves calculating the percentage increase in price needed to reduce cigarette consumption by 20%, given a price elasticity of demand of 0.4 for cigarettes. Since the current cost of a pack is $2 and the target is to decrease demand by 20%, we can use the price elasticity of demand formula, which is % change in quantity demanded divided by % change in price.
To find the necessary price increase (∆P), we rearrange the formula where elasticity (E) = (% change in quantity demanded) / (∆P):
E = -0.4 = (-20%) / (∆P)
By multiplying both sides by (∆P) and then dividing by -0.4, we get:
∆P = (-20%) / (-0.4) = 50%.Therefore, a 50% increase in price would reduce demand by the desired 20%. Since the original price is $2, a 50% increase means the new price should be $2 + ($2 * 0.5) = $3.
_____ is an approach to setting advertising goals and objectives which states that communication effects are the logical basis for advertising goals and objectives against which success or failure should be measured.
A) The carryover effect
B) The hierarchy of effects model
C) Zero based communications planning
D) Inside-out communications planning
E) DAGMAR
Answer:
E) DAGMAR
Explanation:
DAGMAR (defining advertising goals for measured advertising results) is a marketing approach that is used to measure the success or failure of an advertising campaign goals and objectives . It was first introduced in 1961 bu Russell Coley to the Association of National Advisers. It uses four steps namely:
Awareness: Generating awareness about the goods and services to the customer.Comprehension: Increasing the product benefit and comprehension.Conviction: Making the customer to be convinced about the need for the product.Action: Making the customer buy the product.Answer:
E
Explanation:
According to DAGMAR the basic function of advertising is to communicate.
The model was developed by Russell H. Colley in his report for national advertisers titled Defined Advertising goals for Measured Advertising Results. He believes that effective advertising is based on communication rather than to sell.
The DAGMAR approach highlights these phases:
1. Awareness,
2. comprehension,
3. conviction,
4. action
The approach has two goals.
1. Develop a communication tasks that accomplishes the phases above
2. Make sure that the success of the goals are measurable against a baseline.
The HR manager of Carl Investments, a share broking firm, has decided to arrange regular yoga classes for the employees of the firm. He has taken this decision because many employees have recently complained of poor health due to work load. In the given scenario, the HR manager of Carl Investments is using a(n) _____.
Answer:
collateral stress program
Explanation:
collateral stress program is program which is being implemented in organization to help employee cope with stress and anxiety.
It has been seen that long working hours, increasing workload and uncertainty in roles and responsibilities accompanies with unbalanced work life balance has been affecting physical and mental well being of employee. This reduces the productivity of employee and organization. An organization is meant to take care of employees. Hence under such circumstances. Collateral stress program is being use dot help employees.
Under this program, employees are made to learn stress management, health promoting program is conducted. Employees are given assistance of psychological expert to discuss their issues. Nowadays Yoga program is also used in organization to ensure overall being of employees.
Hence any activity and event to ensure mental and physical well-being of employee constitute collateral stress program.
Since, in the problem stated above carl investment firm is introducing yoga classes for its employee to help in mitigating their stress. It comes under the purview of collateral stress program
The HR manager of Carl Investments is implementing a proactive care policy to invest in human capital by arranging yoga classes for employees, aligning with Theory Y management practices.
Explanation:The HR manager of Carl Investments is utilizing a proactive care policy by arranging regular yoga classes for employees who have been experiencing poor health due to workloads. This initiative can be seen as an investment in human capital, aiming to upgrade the health and potentially the skills of their workforce. By fostering a supportive work environment that prioritizes employee well-being, Carl Investments is likely to see benefits such as increased employee satisfaction, productivity, and possibly a reduction in workplace stress-related issues. This approach aligns with Theory Y management, which posits that giving employees more input and better working conditions can yield higher levels of work satisfaction and efficiency.
Your project is significantly over budget and behind schedule. It is critical that you determine your projected duration. To gain a better understanding of the project you analyze the sequence of deliverables, activities or tasks to find the ones with the least amount of schedule flexibility. What technique are you using
Answer:
CPM (Critical Path Method) technique
Explanation:
Critical Path Method is the sequence of project network activities that add up to the longest overall duration.
Using four required inputs, it calculates the longest path of planned activities to logical end points, to the end of a project and the earliest and latest that each activity can start and finish without making the project longer. Also determines what can be delayed without making the project longer.
Which of the following statements, if any, represent a principal’s duty to an agent who works on a commission basis?
a) The principal is required to maintain pertinent records and pay the agent according to the terms of their agreement.
b) The principal is required to reimburse the agent for all authorized expenses incurred unless the agreement calls for the agent to pay expenses out of the commission.
c) Both a) and b).
d) None of the above.
Answer:
a) The principal is required to maintain pertinent records and pay the agent according to the terms of their agreement.
Explanation:
The relationship between agent and principle is agreement based and differs from other agent-principle relationships.
Commission will be paid to agent as per their agreement.
Pamela applies for a life insurance policy with forever young insurance company. when completing the application form about past surgeries, pamela forgot about a past outpatient surgery when she had an infected hang-nail removed and her toe treated. one year after issuing the policy, pamela died suddenly from a brain aneurysm. forever young denies payment under the policy based on misrepresentation. if pamela's sister, paula, sues forever young, she will most likely
a. win, because once an application has been accepted, an insurer may not use a misrepresentation on the application to avoid liability.
b. win, because pamela's misrepresentation was not a material fact and did not increase forever young's risk in insuring pamela's life.
c. lose, because pamela's application contained a misrepresentation of material fact.
d. lose, because an insurer can always use any misrepresentation on an application to avoid paying.
Answer:
win, because Pamela's misrepresentation was not a material fact and did not increase Forever Young's risk in insuring Pamela's life.
Explanation:
A material fact is defined as the rationality of a person making a decision that is important as opposed to one that is trivial or unimportant. It is a fact that if suppressed would have led to a different decision in a particular situation.
Paula will most likely win the case because the lack of disclosure by Pamela of when she had an infected hang-nail removed and her toe treated cannot be linked by a reasonable person to a brain aneurysm.
This lack disclosure would not have increased the risk of Forever Young in Pamela's life insurance.
A woman bought a home. The asking price for the home was $585,000; the woman offered $565,000 and the seller accepted. The appraised value of the home is $560,000. The woman plans to pay $94,600 in cash and take out a mortgage for the remainder. What is the LTV for this property
Answer:
The multiple choices are as follows:
A: 82%
B: 83%
C: 84%
D: 85%
The correct option is C,84%
Explanation:
Loan-to-Value ratio(LTV)=loan amount/appraised value of the property
the price paid for the property was $565,000,out of which the buyer paid $94,600 from her pockets and borrowed the remainder,the remainder that was borrowed is computed thus:
amount borrowed=sales value-cash
=$565,000-$94,600=$470,400
The appraised value of the property is $560,000
LTV=$470,400/$560,000=0.84
The property loan to value ratio is 84%
Zoco, a restaurant chain, introduced a new version of lemonade that was red in color and had a thick consistency. The company had relied on the fact that its drink was different from other lemonades. However, the consumers did not respond positively. What is the most likely reason for the consumers' negative response?A. ExtinctionB. Selective distortionC. AssimilationD. Contrast
Answer:
D. Contrast
Explanation:
Contrast is the situation whereby consumers are familiar with an idea and are unwilling to change the idea. It is situation whereby a product does not share enough existing or common information with known categories. In this scenario, the lemonade introduces didn't share common information with existing categories in the form of color and consistency, hence why consumers had negative response towards the drink.
American Idle sells hammocks in a perfectly competitive market. This year, the price of hammocks has fallen to $24, and Simon Cowbell, the manager of American Idle, is trying to decide what to do. He discovers that his average variable cost (AVC) is $25, average total cost (ATC) is $30, and marginal cost is $24 and upward sloping. What should he do?
Answer:
Shut down as P < AVC.
Explanation:
Given that,
Selling price = $24
Average variable cost = $25
Average total cost (ATC) = $30
Marginal cost = $24
He should shut down because the price received by him for the product is less than average variable cost. He should shut down its operations because he won't be able cover the average variable cost associated with the production of the product.
Price = $24 which is less than average variable cost of $25.
If he will be able to cover its variable cost then he will continue operating in this market condition.
During the period 1990–1998 there were 46 atlantic hurricanes, of which 19 struck the united states. during the period 1999–2006 there were 70 hurricanes, of which 45 struck the united states. (a-1) does this evidence convince you that the percentage of hurricanes that strike the united states is increasing, at α = .01? let 1 = proportion of hurricanes in united states from 1990-1998 and 2 = proportion of hurricanes in united states from 1999-2006. choose the correct null and alternative hypotheses.
Answer:
Option C is correct.
Explanation:
Eric Brown is a human resource manager in a company selling and manufacturing personal computers. Who among the following is Eric most likely to hire as a salesperson if his objective is to minimize training costs post recruitment?A. Samantha, a fresh college graduateB. Nancy, an experienced engineer with no prior experience in personal sellingC. Henry, a young salesperson with a few months' experience in a large MNCD. Melissa, a proven salesperson from a competing firmE. Richard, a product developer from a competing firm
Answer: Melissa, a proven salesperson from a competing firm
Explanation:
The best candidate for the role of a sales person is Melisa who is a salesperson from a competing firm. Since the objective of Eric Brown who is the human resource manager is to minimize training costs post recruitment, Melisa is the right candidate.
Melisa already has lots of experience as a salesperson in a previous company so,she is experienced and hence won't need to undergo any training unlike a product developer or engineer who need to undergo some trainings.
Employees may be required to sign, as a condition of employment, an agreement that they will not leave the company and go to work for themselves or a competitior firm in a position that could inflict competitive injury on the employer. This is called:
A. noncompete agreement
B. anti-raiding covenant
C. exculpatory agreement
D. whistle-blower agreement
E. none of the other choices
Answer:
Option "A" is the correct answer to the following question.
Explanation:
A non compete agreement is a type of deal under which an employee signs a document that states that the employee will neither leave the company nor join any of the companies or businesses Which can harm its employer in the competitive market. Such an agreement is made a non-compete agreement.
Such legal arrangements prohibit workers from joining industries or occupations which are considered directly competitive with the employer.
The National Pork Board developed "Pork. The Other White Meat" campaign. The campaign provided nutritional information and pork recipes in an attempt to encourage people to view pork as a tasty alternative to poultry and fishWhich of the following functions was the goal of this public relations campaign?A) influencing government regulations on porkB) gaining financial support for pork producersC) creating newsworthy information about porkD) maintaining relationships with pork producersE) rebuilding consumer interest in pork
Answer:
E) rebuilding consumer interest in pork
Explanation:
Going by the campaign theme "Pork. The Other White Meat", and looking at the strategy of the campaign which involves providing nutritional information and pork recipes, in order to encourage people to view pork as an alternative to poultry and fish, it is obvious that the function of rebuilding consumer interest in pork is the main goal of the public relations campaign that is championed by the National Pork Board.
Contrary to the general opinion and view held by people against pork, the board is trying to portray "pork" as a good meat and an alternative that people can purchase. The nutritional information and pork recipes that are provided would help in rebuilding the interest of consumers in going for pork as an alternative to poultry and fish.
The board of directors of Chester, Inc. authorizes a $0.10 cash dividend to its 10,000 shares of common stock issued and outstanding. On the date of payment, a journal entry will debit which of the following accounts and for what amount?
A) Common Dividend Expense for $1,000.
B) Cash for $1,000.
C) Common Dividend Payable for $1,000.
Answer:
C
Explanation:
In this question, we are asked to state the appropriate amount that will be debited from which of the accounts in the question.
To answer this appropriately, we need to calculate the dividend payable.
Mathematically that is equal to cash dividend * number of shares
From the question, we can identify the cash dividend as $0.10 and the number of shares as 10,000
The dividend payable is thus 0.1 * 10,000 = $1,000
The journal entry will be:-
Dividend payable $1,000
Cash $1,000
This makes option C the correct answer
Joe is the owner-operator of Joe’s Haircuts Unlimited. Last year he earned $200,000 in total revenues and paid $125,000 to his employees and suppliers. During the course of the year, he received three offers to work for other barbers, with the highest offer being $50,000 per year.
1.) What are Joe’s explicit costs?
2.) What are Joe’s implicit costs?
3.) What are Joe’s accounting profits?
4.) What are Joe’s economic profits?
Answer:
1. $125000
2. $50000
3. $75000
4. $25000
Explanation:
1. Implicit cost is the cost Joe must give up in order to run his business.
Thus,
Implicit cost = $50,000
$50,000 is the highest offer for employment he received.
2. Explicit cost refers to the total amount used in starting up the business, in this case, refers to the amount used in paying salaries and suppliers.
Thus
Explicit cost = $125,000
3. Accounting profits
= Revenue - explicit cost
= 200000 - 125000
= $75000
4. Economic profits
= Revenue - (explicit + implicit)
= 200000 - 125000 + 50000
= 200000 - 175000
= $25000
Answer:
1. $125,000
2. $50,000
3. $75,000
4. $25,000
Explanation:
Explicit cost is actual cost incurred. It is the total cost incurred by running the business. Explicit cost is $125,000
Implicit cost is also known as opportunity cost. Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives. Implicit cost is $50,000.
Accounting profit is total revenue less total explicit cost.
Accounting profit = Revenue - Explicit Cost
$200,000 - $125,000 = $75,000
Economic profit is accounting profit less implicit cost or opportunity cost.
Economic profit = Accounting profit - implicit cost
$75,000 - $50,000 = $25,000
I hope my answer helps you
"At High Flyer Airlines, managers rate their subordinates on a continuum from 1 to 7. A score of 1 indicates unsatisfactory performance, and a score of 7 indicates superior performance. High Flyer uses a _______________ as its performance appraisal method."
Answer:
The answer,in this case would be Graphic Rating Scale or Likert Scale.Explanation:
In a statistical research study,rating scale or likert scale is used indicate the intensity of magnitude of any variable or phenomenon related to the concerned research topic.Rating scale or likert scale is commonly used in statistical research methods such as surveys or questionnaire where various options are presented to the respondents or participants and a corresponding numerical value associated with each response options.The response options are scaled or ranked numerically according to the intensity or magnitude of the variable or the phenomenon which is included in the survey or questionnaire question.In this instance,the subordinate performance has been scaled or ranked on a rating or likert scale from 1 to 7 which represent the numerical values associated with each rank or scale.he price of a non-dividend paying stock is $55 per share. A 6-month, at the money call option is trading for $1.89. If the annual interest rate is 6.7%, what is the price, based on put-call parity, of a European put at the same strike and expiration?
Answer:
$0.135
Explanation:
To solve the following, we should use the following method
For us to be able to determine the price base on put call parity
The formula for put call parity is gives as c + k = f +p, meaning the call price plus the strike price of both options is equal to the futures price plus the put price.
Cullumber Company incurred research and development costs of $101000 and legal fees of $41000 to acquire a patent. The patent has a legal life of 20 years and a useful life of 10 years. What amount should Cullumber record as Patent Amortization Expense in the first year
Answer:
$14,200
Explanation:
Step 1 Determine the Cost of the Patent
Research and Development costs $101000
Add legal fees $41000
Total $142,000
Step 2 Determine Amortization Expense
Amortization Expense = Cost/ Useful life
= $142,000/10 years
= $14,200
assume we had a simple economy that only produced mangoes. the velocity of money is 50 and 1000 mangoes are produced. what must be true for the price if the quantity of money increases from 400 to 800? (assume everything else stays constant)
Answer:
The following must be true;
The price must increase by 100%
and;
The price of mangoes goes up from $20 to $40
Explanation:
Here, we are to state what must be correct given the information in the question.
For correct appraisal of the task at hand, we calculate the change using the equation of change.
Mathematically;
The equation of change is as follows
MV=PY
where;
M=money supply , P=price level ,Y=output and V=velocity
From the question, we identify the following;
M=400
When M = 400,
then
400*50=1000P
P=20000/1000=20
When M=800
then
800*50=1000P
P=40000/1000=40
%change =(40-20)/20=1=100%
There are hundreds of colleges and universities that serve millions of college students each year. the colleges vary by location, size, and educational quality, which allows students with diverse preferences to find schools that match their needs.
Answer:
For Number of firms, the answer is C. Many.
For type of product, the answer is D. Differential.
For Market model, the answer is C. Monopolistic Competition.
Explanation:
From the questions above, we can conclude that the number of firms is Many because it is stated that there are hundreds of colleges and universities that serve millions of college students each year.
For the type of product, in this case service, that each college and university offers, there is service differentiation. This is because each school will offer unique and distinct ways of meeting the students' needs.
There exists monopolistic competition in markets which have several competitors selling similar products and services. The similar products and services are not ideal substitutes for each other in monopolistic competition. Here, the barriers to entry and exit in the industry are low, and the decisions that are taken by one company do not affect the competitors. Therefore, in the scenario given above, because there are several colleges and universities serving millions of students in similar ways but with differentiated methodologies and programs, they form a monopolistic competitive market.