ANSWER:
d.$119.32
STEP-BY-STEP EXPLANATION:
Leiff goes online to buy a new video game. He finds a site that currently has a promotion of 15% off on all orders over $50. Leiff decides to buy his video game, with a price tag of $128, at this site because he knows that he will get the 15% discount when he checks out. Leiff pays 5.3% sales tax on the discounted price and pays a shipping fee of $4.75.
original price is $128,
to get its discounted price at 15%
Leiff paid for was (100-15) = 85% of the original price
the price of the video game then becomes (0.85 x 128) = $108.80
Leiff has to pay an additional 5.3% of the new price, that's (100 + 5.3) = 105.3% of the new price
which is (1.053 x 108.8) = $114.57
Adding the shipping fee for the videogame, 114.57 + 4.75 = $119.32
Thus, the total price is $119.32
Jim has hired a real estate broker to help facilitate the sale of his home. If the broker requires a commission of 6%, how much will Jim clear from the sale (after the commission has been paid) if he is able to sell his house for $478,723? (Assume that Jim has already paid off his mortgage.)
Answer:
Jim will receive 449,999.62
Explanation:
We are going to discount the sales commission from the proceeds of the home, this will be the net cash received from Jim
sales price 478,723
commission 6% of 478,723 = 39723.38
net realizable 449,999.62
(sales price - commisions)
U.S. firms can produce and sell electric fans for $25. The United States can also import electric fans from China at $19 each and from Canada at $20 each. Electric fans made in the United States, China, and Canada are identical. Currently, the United States imposes a 30% tariff on imported electric fans. which country will the United States import fans?
A) China B) Canada C) both China and Canada D) neither China nor Canada
Answer: Option (A) is correct.
Explanation:
U.S firms sell electric fans = $25 each
Before imposition of 30% tariff,
Imported price of electric fans from China = $19 each
Imported price of electric fans from Canada = $20 each
All the three countries are producing identical electric fans.
After imposition of 30% tariff,
Imported price of electric fans from China = $24.7 each (tariff of $5.7)
Imported price of electric fans from Canada = $26 each (tariff of $6)
∴ U.S will import fans from China because China has the lower price of electric fans as compared to United States and Canada after imposition of 30% tariff.
Final answer:
After applying a 30% tariff to the cost of importing electric fans from China and Canada, the resulting prices are $24.70 and $26.00, respectively. Since the U.S. can produce them for $25, it would choose to import from China, which is cheaper than both U.S. production and Canadian import.
Explanation:
To determine which country the United States will import electric fans from after a 30% tariff, we need to calculate the cost of importing the fans from each country, including the tariff. If the price from China is $19, a 30% tariff would add $5.70 to the cost, making the total $24.70. Similarly, for Canada at $20, a 30% tariff would add $6.00, bringing the total to $26.00. Since a U.S. firm can produce and sell electric fans domestically for $25, which is cheaper than importing from Canada but more expensive than importing from China, the United States would choose to import fans from China (Option A). The tariff serves as a source of revenue for the government but can also lead to higher prices for consumers, as illustrated by the increase in washing machine prices after the imposition of tariffs in 2018.
Which of the following policies would not help promote economic growth?
A. A law requiring that the funds in an individual retirement account be taxed.
B. A law restricting elected officials from accepting expensive gifts and trips from private individuals.
C. A law that funds prenatal care for all expectant mothers.
D. A law that subsidizes research in nanotechnology.
Answer: Option A
Explanation: Economic growth means the percentage increase in market value of goods and services produced in the economy. Growth of economy depends on various factors such as human capital, technology and capital investments etc.
A. Tax on retirement account degrades the living standard of retired humans in the economy.
B. Law restricting expensive gifts will tackle corruption and will result in more capital investment from the government.
C. Prenatal care will boost the quality of human capital in the economy.
D. Law subsidizing research will upgrade the level of technology in the economy.
Thus, option A will not help in any way in economic growth.
Grey Corporation has $100,000 of accounts receivable on December 31, 2015. The unadjusted balance of its Allowance for Doubtful Accounts is a credit of $1,000. Experience suggests 5 percent of its receivables will be uncollectible. The amount that should be debited to Bad Debt Expense and credited to Allowance for Doubtful Accounts in the year-end adjusting entry is _____.a.$50b.$1,000c.$2,070d.$5,000e. $6,000f. $4,000
Answer:
4,000
Explanation:
expected uncollectible 5% of Ar
5% of 100,000 = 5,000
current balance (1,000 credit)
Adjustment 4,000
When the uncolelctibles are made base on account receivable, the amount calculate is the ending balance and we should calculate the adjustment by the diference between beginning balance and ending balance
If the allowance is made based on sales then weshould adjust for the whole amount of the expected bad debt
The estimated uncollectible amount of accounts receivable of Grey Corporation is $5,000. Given the current credit balance in the Allowance for Doubtful Accounts is $1,000, the Company needs to adjust $4,000 (which is $5000-$1000) in the year-end entry by debiting Bad Debt Expense and crediting Allowance for Doubtful Accounts.
Explanation:The is a business accounting question related to the entry for bad debts. In this scenario, Grey Corporation needs to debit the estimated uncollectable amount from its Accounts Receivable to its Allowance for Doubtful Accounts.
First, we calculate the estimated uncollectable amount: 5% of $100,000 (the total Accounts Receivable balance) = $5,000. Secondly, we must compare this estimated amount with the current balance in the Allowance for Doubtful Accounts, which has a credit balance of $1,000.
Therefore, to reconcile these two figures, Grey Corporation should debit the Bad Debt Expense by $4,000 (which is $5000-$1000) and credit the same amount to the Allowance for Doubtful Accounts.
So, the correct answer is f. $4,000.
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Flora, who owns and operates Garden Fresh Organic Farms, agrees to sell Harvesters Grocery a minimum quantity of fresh fruits and vegetables every week for three months. If the market price for organic produce exceeds the price in the contract with Harvesters, and Flora decides not to deliver the order. her contract with the grocery is a. not affected. b. breached. c. suspended. d. discharged.
Answer:
The contract is breached.
Explanation:
A contract is a binding agreement between two parties, where the parties involved are bound to observe the terms mutually decide, no matter what changes occur.
When Flora made a contract with the grocery to sell her products at a certain price, she was bound to do so, irrespective of changes in price level. Since, she does not observes the terms of the contract, the contract is breached.
Assume you decide to start a business and you quit your job that was paying you $60,000. You pay $36,000 to the landlord for the facility you are renting for your new business. You pay your vendor $35,000 for raw materials you purchased for the business. You no longer earn $1,000 of interest on the funds you took out of the bank to start the business. You pay $24,000 during the year for utilities. You sell 22,000 of your items for $10. What is your explicit costs?
Answer:
Explicit cost = $95,000
Explanation:
Explicit cost = the cost which is actually incurred and paid in cash, it does not include any opportunity cost foregone, as no direct cash payment is involved in that case.
Here explicit cost of business = Rent paid + Raw material purchased + Utilities
= $36,000 + $35,000 + $24,000 = $95,000
Note: Explicit cost does not consider the revenue generated as this is only the cash paid for expenses.
Explicit cost = $95,000
The explicit costs of starting the business include the costs of the rental, raw materials, foregone interest earnings, and utilities, which total to $96,000. The salary given up to start the business ($60,000) is an implicit cost and doesn't count towards explicit costs.
Explanation:The explicit costs are the actual out-of-pocket expenses incurred in running the business. To calculate them, simply add up the cost of the business premises rental ($36,000), the cost of raw materials ($35,000), the foregone interest earnings ($1,000), and the utilities ($24,000).
Step 1: Calculating Explicit Costs
To start, add up the known explicit costs:
Office rental = $36,000Raw materials = $35,000Foregone interest earnings = $1,000Utilities = $24,000Total explicit costs = $36,000 + $35,000 + $1,000 + $24,000 = $96,000.Step 2: Compare the total explicit costs to the business' revenues. However, keep in mind that although the foregone salary ($60,000) is a cost to you for starting the business, it is considered an implicit cost and is not included in the calculation of explicit costs.
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PLEASE HELP, ILL GIVE BRAINLIEST IF IT'S RIGHT. 35 POINTS! the answer isnt C!
April is working on the company newsletter. She wants to include a photo that Dalton took at the sales meeting. What must she do first to import the photo?
a.) Select the photo from the Windows menu.
b.) Select Image Frame icon from the toolbar.
c.) Select Import from the File menu.
d.) Select Photo from the Insert menu.
Answer:
I think it is A but im not sure
Answer:
the answer is C
Henri, who runs a French restaurant, wants his diners to have an authentic culinary experience. Thus, he wants to recruit qualified individuals of French origin for his restaurant. Henri can avoid a claim of national origin discrimination and still limit the job to individuals of French origin by showing that:
Answer: by showing that any applicant with fluent french and knowledge of french cuisine is qualified for the job.
Explanation: Henri in this case study wants his customers to have authentic french experience and for this he needs qualified personnel. He needs french individuals to make the atmosphere more french as they will be able to inform customers about french cuisine and can converse with customers in french so if any other individual has these qualities then regardless of national origin he or she will be taken in for the job.
A sequential game can be used to analyze whether a retail firm should build a large store or a small store in a city, when the correct choice depends on whether a competing firm will build a new store in the same city. Which of the following is used to analyze this type of decision?
Answer: Decision tree
Explanation: A support tool that uses a tree like model for decision making by evaluating the possible consequences by taking into consideration chance event outcomes, resource cost and utility. Largely used in non parametric effective machine, it is a learning modelling technique for regression and classification problems.
Game theory is used to analyze this type of decision in a sequential game. The retail firm can simulate multiple scenarios of their choice to build a large or small store based on various predicted actions by the competitor and decide accordingly, factoring in market competition, firm strategies, likely competitor responses and customer reactions.
Explanation:The type of analysis used to determine a decision in a sequential game such as whether a retail firm should build a large or small store in a city, based on a competitor's similar actions, would be game theory. This aspect of microeconomics, specifically focuses on decision-making and strategy in situations of competition and conflict.
Using game theory, a retail firm can simulate multiple scenarios and the outcome of each choice, dependent on various predicted moves by the competitor. For example, if the retail firm decides to build a small store and the competitor also builds a new store, it can determine the likely profit or loss compared to if it had built a large store.
This requires careful evaluation of the market competition, assessment of individual firm strategies and the likely responses from competitors. It is also essential to factor in how customers might react to each scenario, thereby affecting demand and profits.
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On January 1, 2018, Ramsey Company purchased 35% of the outstanding common shares of the Vapor Company for $70,000 when the net assets were $200,000. During 2018, Vapor Company earned $80,000 and declared a dividend of $40,000. Ramsey accounted for the investment using the equity method. Ramsey’s share of Vapor’s income for 2018 is:
A. $42,000
B. $28,000
C. $14,000
D. $40,000
Answer: Investment income = Earning during 2018 × outstanding common shares
= $80,000 × 35%
Dividend declaration = Dividend × outstanding common shares
= $40,000 × 35%
Ramsey’s share of Vapor’s income for 2018 = Investment income - Dividend declaration
= $28,000 - $14,000
= $14,000
Ramsey's share of Vapor Company's income for 2018 is $28,000 when accounting for the investment using the equity method.
Explanation:Ramsey's share of Vapor Company's income for 2018 can be calculated using the equity method. The equity method requires recording the investor's share of the investee's net income as an increase in the investment account. In this case, Ramsey purchased 35% of Vapor's outstanding common shares which gives them a 35% ownership interest in the company. Vapor Company earned $80,000 in 2018, so Ramsey's share of that income would be 35% of $80,000, which equals $28,000. Therefore, the correct answer is B. $28,000.
Curly’s Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $43,000 per year forever. A representative for Curly’s tells you the policy costs $680,000. At what interest rate would this be a fair deal?
Answer:
rate = 6.3235%
At a market rate of 6.3235% this will be a fair deal
Explanation:
under perpetuities the principal is never redeem. the investor receive cash payment for an indefinite period of time
This means:
perpetuities present value = C/r
where:
C= annual payment
r= rate
680,000 = 43,000/rate
43,000/680,000 = rate
0.06323529 = rate
rate = 6.3235%
Paula, the controller of Tasty Pizza, is purchasing several new delivery vehicles. Paula has numerous work responsibilities, so she has limited time to shop for cars. Because of the time constraints, she cannot make an extensive search for the best alternative, so she looks for cars until she finds a model that is satisfactory. Paula is following the _____ model.
Answer: Satisficing model
Explanation: Under satisficing approach an acceptable threshold criteria is set by the individual and he or she keeps searching till the component satisfying such criteria is met.
In the given case Paula has established a criteria that she can value satisfactory and she keeps searching for the car that meets such criteria hence she is using satisficing model.
If nominal GDP is $12 trillion and real GDP is $10 trillion, then the GDP deflator is a. 120, and this indicates that the price level has increased by 20 percent since the base year. b. 83.33, and this indicates that the price level has increased by 83.33 percent since the base year. c. 120, and this indicates that the price level has increased by 120 percent since the base year. d. 83.33, and this indicates that the price level has decreased by 16.67 percent since the base year.
Answer:
a. 120, and this indicates that the price level has increased by 20 percent since the base year.
Explanation:
Nominal GDP is the amount of goods and services produced by a country taking inflation and deflation into account. Real GDP is the amount of goods and services produced in a country based on prices of a base year. a base year is a chosen year that is used as a reference.
GDP deflator is calculated as follows:
Nominal GDP ÷ Real GDP × 100
( 12 trillion ÷ 10 trillion ) x 100
= 120
the change ∴ is an increase in 20% from the base year
The GDP deflator is 120, indicating that the price level has increased by 20 percent since the base year. It measures the change in prices for all goods and services produced in an economy. It's important to distinguish between nominal and real measurements since the GDP deflator provides insight into whether changes in GDP are due to changes in price level or quantities of goods and services produced.
Explanation:The GDP deflator measures the change in prices for all of the goods and services produced in an economy. Given the nominal GDP ($12 trillion) and the real GDP ($10 trillion), we calculate the GDP Deflator as (Nominal GDP / Real GDP) * 100. Therefore, in this case the GDP Deflator should be (12 trillion/10 trillion)*100 = 120. This means the correct answer is Option a: The GDP deflator is 120, indicating that the price level has increased by 20 percent since the base year.
The distinction between nominal and real measurements is crucial in economic statistics. When the GDP deflator is used, the real value is generally more important because it has been adjusted for inflation. The GDP Deflator is a measure that gives us insights into whether changes in GDP is due to changes in the price level or due to changes in the quantities of goods and services produced.
Do note, however, that changes in the GDP deflator over the years do not translate directly into changes in the cost of living or inflation rate. It merely indicates the current price level relative to the price level in the base year.
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Which of the following statements is CORRECT? a. A time line is not meaningful unless all cash flows occur annually. b. Time lines are not useful for visualizing complex problems prior to doing actual calculations. c. Time lines can be constructed to deal with situations where some of the cash flows occur annually but others occur quarterly. d. Time lines can only be constructed for annuities where the payments occur at the end of the periods, i.e., for ordinary annuities. e. Time lines cannot be constructed where some of the payments constitute an annuity but others are unequal and thus are not part of the annuity.
Answer: Option C
Explanation: The correct statement is time lines can be constructed to deal with situations where some of the cash occur annually but others occur quarterly. A time line can be defined as the display of events in a chronological order. While solving problems related to cash flow, time line is prepared to ease the calculations by showing cash flow as the the order of their occurrence.
An interpersonal skill is something that you cannot develop.
a. True
b. False
Answer:
An interpersonal skill is something that you cannot develop. - False ( b.)
Answer:
b. False
Explanation:
An interpersonal skill is something that you can develop.
Brand salience ________. Options: A) is customers' emotional responses and reactions with respect to the brand B) is how often and how easily customers think of the brand under various purchase or consumption situations C) is how well the product or service meets customers' functional needs D) describes the extrinsic properties of the product or service, including the ways in which the brand attempts to meet customers' psychological or social needs E) describes the relationship customers have with the brand and the extent to which they feel they're in sync with it
Your question asks what Brand Salience is.
Answer: B). is how often and how easily customers think of the brand under various purchase or consumption situationsBrand salience is how often and how easily customers think of the brand under various purchase or consumption situations
The reason why answer choice "B). is how often and how easily customers think of the brand under various purchase or consumption situations" is the correct answer because this gives the best definition of brand salience.
Brand Salience happens when a customer thinks about an individual's company, meaning that the company is going through the mind of the customer when buying a product. This is very important to businesses because if a lot of people are thinking about their company when buying products, then they would be making more money since their company is "known" by people that think about it.
For example, someone could be at a store looking to buy some shampoo, and the first thing that comes to their mind when they're at the store is "Old Spice". That would be an example of brand salience.
Brand Salience sparks the sales in their products when people know the brand and what they do.
I hope this helps!Best regards,MasterInvestorYour nonprofit organization is preparing to host its first annual 5K run/walk in City Park. You worked on a similar project for the organization two years ago when it cohosted the 10K run through Overland Pass. Which of the organizational process assets might be most helpful to you on your new project?
Answer: Past experience
Explanation: As per the case study we have worked for a similar project and that too not very long time ago thus we have the experience to handle these kinds events. This case study brings out the importance of human resource assets in the organisation and the intangible value they carry in form of experience .
In a fractional-reserve banking system, banks create money because:
A) each dollar of reserves generates many dollars of demand deposits.
B) banks have the legal authority to issue new currency.
C) funds are transferred from households wishing to save to firms wishing to borrow.
D) the wealth of the economy expands when borrowers undertake new debt obligations.
Answer:
A) each dollar of reserves generates many dollars of demand deposits.
Explanation:
Fractional reserve is a banking arrangement in which only a fraction of bank deposits are backed by actual cash-on-hand which is available for withdrawal, so that it can be loaned to other entities. Thus, all fractional reserve banks keep reserves equal to a fraction of their deposits and create money when they make loans.
You just started to work on a project with three other people. You realize that everyone has their own notes, which makes it hard for you to keep track of what has been done and what still needs to be done. Which of the following applications would you suggest the team use?
Answer: Wikis application
Explanation: Wiki would be the most appropriate application for the team as it is a collaborative web site that is used to collect and organize the content revised by its users. Wikis is also a user friendly application and is easy to use. As a team we can use it to as a common platform where we can report our daily work done so it helps to better balance the workload.
Suppose Company ABC has revenues of $200 million, cost of goods sold of $350 million, and depreciation of $50 million. What is the company's EBIT? Multiple Choice $200 million $0 $200 million Not determined
Answer:
the EBIT will be of minus 200 millons -$200,000,000
Explanation:
EBIT Will be the Earning before Interest and Taxes
Assuming there is no other operating expense like rent, the EBIT
will be 200 revenues
-350 cost of goods sold
-50 depreciation
-----------------------------
-200 EBIT
Notice it is negative so it is losses not earnings in this case.
Last year, Wesson Company sold 10,000 units of its only product. If sales decrease by 15% in the current year, how will unit variable cost and unit fixed cost be affected? Unit Variable Cost - Unit Fixed Cost
A) Remains constant - Remains constant
B) Increases - Decreases
C) Decreases - Remains constant
D) Remains constant - Decreases
E) Remains constant - Increases
Answer:
The correct answer is c.
Explanation:
If 1,500 units were sold this year less (15% of 10,000)
This means that by producing 1500 units less fewer direct materials, less direct labor, less commissions to sellers, less direct taxes and variable storage costs and any other expenses that are modified to produce 1 less unit or one more unit were acquired . in the production of 1500 units, therefore the variable costs decrease.
On the other hand, regardless of the quantity of units produced, the fixed costs will not be affected, since these must be canceled regardless of the level of activity, such as the rental of the business, administration salaries, fixed taxes, among others)
Splish Brothers Inc. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at December 31. (Omit cost of goods sold entries.) Nov. 1 Loaned $66,600 cash to C. Bohr on a 12-month, 6% note. Dec. 11 Sold goods to K. R. Pine, Inc., receiving a $7,200, 90-day, 6% note. Dec. 16 Received a $9,600, 180-day, 8% note to settle an open account from A. Murdock. Dec. 31 Accrued interest revenue on all notes receivable.Journalize the transactions.
Answer:
Nov 1st
note receivable debit 66,600
cash credit 66,600
Dec 11th
note receivable debit 7,200
sales revenue credit 7,200
Dec 16th
note receivable debit 9,600
account receivable credit 9,600
Dec 31th (adjusting entry)
interest receivable debit 714
interest revenue credit 714
Explanation:
(this calculation are done assuming 360 days year)
Nov 1st 66,600 6% interest at Dec 31th = 66,600 x 0.06 * (2/12) = $666
Dec 11th 7,200 90 days note 6% at Dec 31th = 7,200 x 0.06 x (20/360) = $24
Dec 16 9,600 6% 180 days at Dec 31th = 9,600 x 0.06 x (15/360) = $24
Total interest 666+24+24 = 714
Final answer:
Transactions for Splish Brothers Inc. include loaning cash, selling goods for notes receivable, receiving a note to settle an account, and accruing interest revenue. The journal entries record the initial transactions and the interest accrued as of December 31 using the formula Interest = Principal × Interest Rate × Time.
Explanation:
To journalize the transactions for Splish Brothers Inc. related to notes receivable, we must record the interest accrued on the notes as of December 31, even though the interest is not collected until the maturity of the notes. The entries are as follows:
Nov. 1: To record the loan to C. Bohr:
Notes Receivable 66,600
Cash 66,600
Dec. 11: To record the goods sold to K. R. Pine, Inc. and the receiving of a note:
Notes Receivable 7,200
Sales 7,200
Dec. 16: To record the note received to settle an open account from A. Murdock:
Notes Receivable 9,600
Accounts Receivable 9,600
Dec. 31: To accrue interest revenue:
Interest Receivable (amount)
Interest Revenue (amount)
The accrued interest revenue for each note is calculated based on the principal, rate, and time period until December 31. The formula used is Interest = Principal × Interest Rate × Time (in years). For the Nov. 1 note, the interest accrued from Nov. 1 to Dec. 31 (2 months) at 6% annual interest rate is $66,600 × 6% × 2/12 = $798. For the Dec. 11 note, the interest accrued from Dec. 11 to Dec. 31 (20 days) at 6% annual interest rate is $7,200 × 6% × 20/360 = $24. The Dec. 16 note does not require accrual as it is less than a full month old by Dec. 31.
Grid Corp. acquired some of its own common shares at a price greater than both their par value and original issue price but less than their book value. Grid uses the cost method of accounting for treasury stock. What is the impact of this acquisition on total equity and the book value per common share?
Answer: Grid Corp. acquired some of its own common shares at a price greater than both their par value and original issue price but less than their book value. This will impact his total equity and the book value per common share.
i.e. In this particular case Equity will decrease and book value per share will increase.
Acquiring its own common shares at a price greater than par value and original issue price but less than book value has an impact on total equity and treasury stock. However, it does not affect the book value per common share.
Explanation:When a company acquires its own common shares at a price greater than their par value and original issue price but less than their book value, it is referred to as treasury stock. The acquisition of treasury stock has two effects on total equity: a decrease in total equity and an increase in treasury stock. However, the book value per common share remains unaffected because the book value per common share is calculated by dividing total equity by the number of outstanding common shares, and both total equity and the number of outstanding common shares decrease proportionally due to the acquisition of treasury stock.
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When interest rates fall a. firms want to borrow more for new plants and equipment and households want to borrow less for homebuilding. b. firms want to borrow less for new plants and equipment and households want to borrow less for homebuilding. c. firms want to borrow more for new plants and equipment and households want to borrow more for homebuilding. d. firms want to borrow less for new plants and equipment and households want to borrow more for homebuilding.
Answer: Option (c) is correct.
Explanation:
When interest rates fall then firms want to borrow more for new plants and equipment and households want to borrow more for home building.
If there is a fall in the interest rate in an economy this will make the loans cheaper.
So, every individual wants to grab this opportunity by taking cheaper loans for various purposes such as home building, buying new plants and equipment, etc.
Hence, firms take an advantage of the lower interest rate by making investment in plants, equipment and machinery.
Whereas households also want to borrow from banks at lower interest rates for building their home. Because it will become cheaper for them to take loan at the ongoing lower interest rate.
The Starfire Coffee chain was the only coffee-shop chain and meeting place in many American cities for more than 12 years. People paid $5 for a mug of peppermint coffee and the experience of sitting in front of a roaring fire, chatting with friends. Twelve years after Starfire's appearance, a similar coffee-shop chain, Reindeer Brews, entered the marketplace. Reindeer charges $3 for a mug of hot cocoa and a similar community experience.
How would you characterize this scenario?
- Non-price competition in a monopolistic market
- Non-price competition in a purely competitive market
- Price competition in a monopolistically competitive market
- Price competition in a purely competitive market
Answer: In this particular case we can reason that this scenario represents monopolistic-ally competitive market.
Both coffee house are offering a similar product and commodity, with only little differentiation in their design.
i.e. The Starfire Coffee chain provided consumer with peppermint coffee and the experience of sitting in front of a roaring fire, chatting with friends.
whereas Reindeer provided consumer with a mug of hot cocoa and a similar community experience.
Answer:
Price competition in a monopolistically competitive market
Child labor and sweatshops have existed since the Industrial Revolution and even before that. Many products sold today are created in these sweatshops, even though, living in the 21st century, we like to think we are above such practices. What is one practical way we can try and stop multinational companies from using such labor?
Answer:
Stop buying from multinationals who are using Child labor and sweatshops production
Explanation:
When a company uses Child labor and sweatshops for their production processes they are trying to reduce costs. The main problem is that they keep succeeding in the market even when the people know their bad practices. If the people stop buying products from this multinationals communicating to the companies why, the clients may demand changes in their production policies. However, to make it real, it is necessary to do it massively, all the clients should apply this buying reduction to really impact the multinational results and demand them to stop the child labor and sweatshops production.
To counteract multinational companies' use of exploitative labor, consumers can make informed purchasing decisions and support ethical products, in addition to backing organizations advocating for labor rights. This consumer-driven demand for ethical practices can push companies to improve their labor standards and move away from using sweatshops and child labor.
Explanation:Child labor and sweatshops have been issues of concern since the Industrial Revolution, and despite widespread awareness and condemnation, numerous multinational companies still rely on such practices for producing goods. One practical way to combat the use of exploitative labor practices by multinational companies is through consumer awareness and purchasing decisions. Consumers can influence companies by choosing products that are certified as being produced ethically or by companies that have transparent and fair labor practices. This demand for ethical products can encourage companies to adopt better labor practices and discourage the use of sweatshops and child labor.
Furthermore, supporting organizations and movements that advocate for labor rights and stricter international labor laws can also exert pressure on companies to change their practices. Examples include the Fair Labor Association and the Clean Clothes Campaign, which work towards improving workers' conditions around the world. Advocacy and awareness can lead to significant changes in policy and corporate behavior, reducing the prevalence of sweatshops and child labor.
If actual sales totaled $500,000 for the current year (40,000 units at $12.50 each) and planned sales were $495,000 (45,000 units at $11.00 each), the difference between actual and planned sales due to the unit price factor is A. $60,000 increase. B. $55,000 decrease. C. $20,000 increase.
Answer: The answer is A. $60,000 increase.
Explanation: 1: The actual units sold multiplied by the budgeted sale price is equal to a total of $440000 (40000 x 11 = $ 440000)
2: The actual units sold multiplied by the actual sale price is equal to $500000 (40,000 x 12.5 = $ 500,000)
3: $500000 - $440000 = $60000 increase by the unit price factor.
The term potential output refers to:
a. The quantity of output that would be produced if every member of the labor force worked 40 hours per week
b. The quantity of output produced when the price level is the same as firms and workers expected when they agreed on input prices and wages
c. The quantity of output produced at the intersection of the AD and AS curves
d. The maximum possible output for an economy
Final answer:
Potential output refers to the economy's maximum possible output when it is utilizing all available resources efficiently, which corresponds to the point where the aggregate supply curve becomes nearly vertical, indicating full employment and resource utilization.
Explanation:
The term potential output, often referred to as potential GDP or full-employment GDP, is best described by relating to the concept of aggregate supply (AS). The aggregate supply curve illustrates the total quantity of output that firms are willing to produce and sell at any given price level. More specifically, at the far right of this curve, it becomes nearly vertical, indicating the economy's potential output. This is the level of output where all labor, machinery, and other inputs are fully employed, and any increase in the price level does not lead to an increase in output. Consequently, potential output represents the maximum sustainable output of the economy, assuming full employment of resources without leading to inflation.
Therefore, the correct answer to the student's question would be:
d. The maximum possible output for an economy. This is because potential output refers to an economy's capacity to produce goods and services when it is employing all its available resources efficiently, hence operating at full capacity.
There are a number of different types of listing contracts that can be used when marketing a property. What type of listings requires the broker to be paid a commission if any other broker, or even the owner, sells the property during the contract period?
Answer: Exclusive right of sale listing
Explanation:
Exclusive right of sale listing is known to be a mutual agreement between a broker and the owner of a property. In this type of contract, the listing broker act as an agent of the property and has the right to sell the property within the stipulated time period agreed upon with the seller. This is done in order for the property to be sold on time and at a good price. Thus, if the property is sold by another agent or the owner of the property, the listing broker will still be paid his commission.
A family lives in a remote area of Appalachia, where coal mines that once employed many workers have been idle for years. There are no jobs in the area, the distant schools are poorly funded, and because of the remote location, there are no churches or medical facilities nearby. These poor, chronically unemployed people who barely survive from winter to winter are an example of
Answer:
The answer is the underclass.
Explanation:
The underclass is defined as the lowest segment of a population at a set area. It is the most disadvantaged group economically – with the order from highest to lowest, socioeconomic-wise, being: upper, upper middle, middle, working, working poor, and underclass. In terms of characteristics, people in the underclass category tends to be unemployed, high school dropouts, abusing illegal substances, and living in high crime and violence areas.