Answer:
The correct answer is letter "D": soldiering.
Explanation:
American economist Frederick Winslow Taylor (1856-1915) in his "The Principles of Scientific Management" referred to as soldiering to the act in which employees underperform on purpose. According to Taylor, this behavior is mainly caused because of the employees' belief that reaching maximum efficiency could lead to employers firing less productive workers, and because of little to no incentive wages.
When the environment becomes more turbulent and unpredictable: a. External consultants need to play a greater role in strategy making b. Strategy becomes an impossible exercise c. Strategy becomes less important than intuition d. Strategy becomes an increasingly important as a source of direction
Answer:
The answer is d. Strategy becomes an increasingly important as a source of direction
Explanation:
You know the _____ method of budgeting is being employed after hearing an experienced marketing department manager respond to a new employee's question, "How was the ad budget established last year?" by saying, "The same way it's always been done. I just have an instinct for how much should be budgeted where."
Answer:
Arbitrary allocation.
Explanation:
Arbitrary allocation is a method where costs budgeted are not based on any precise measurement,hence accurate costs could not be arrived at.
This approach to budgeting breeds inefficiencies as the accurate budgeting is expected to lead to accurate costing of products as well as pricing.
All in all,the true profitability of a business cannot be ascertained.
Finally,the organization adopting this type of approach needs to change to other accurate methods of budgeting such incremental or rolling budgeting.
Answer:
A) Arbitrary allocation
Explanation:
Arbitrary allocation of resources is a very commonly used method specially by experienced managers. To be honest, almost all the allocation methods are arbitrary, only that some are less obvious, e.g. percentage of sales is also arbitrary because what percentage is the correct allocation, someone decided because their previous experience favors such a number.
The manager doesn't magically come up with numbers and decides that X should be assigned to this product and Y to that product. He/she bases the decision on previous campaigns as a parameter and then he/she determines an amount.
Of course this type of resource allocation is not the best or more exact way to do it, but it is based on experience and experience also matters. What would be really problematic is that the manager is so stubborn that he/she will not adjust the balance according to the needs. You must remember that all budgets are only estimates, and estimates aren't usually 100% correct (they wouldn't be estimates if they were 100% sure). What is important is to be able to adjust your budget to correct any variances.
The Scarlet Pages, a semi-professional hockey team, prepare financial statements on a monthly basis. Their season begins in October, but in September the team engaged in the following transactions:________
(a) Paid $150,000 to Oklahoma City as advance rent for use of Oklahoma City Arena for the six-month period October 1 through March 31.
(b) Collected $450,000 cash from sales of season tickets for the team’s 30 home games. This amount was credited to Unearned Ticket Revenue.
(c) During the month of October, the Scarlet Pages played five home games.
Answer:
A) September X. Paid $150,000 as advance rent. for 6 months.
Dr Prepaid Rent 150,000 (asset account increases)
Cr Cash 150,000 (asset account decreases)
Since the rent covers a 6 month period, at the end of each month a partial recognition of the rent expense must be made. $150,000 x 1/6 = $25,000
October 31. Recognition of one month of rent (October)
Dr Rent Expense 25,000 (expense account increases)
Cr Prepaid Rent 25,000 (asset account decreases)
B) September X. Collection of $450,000 from sales of season tickets (30 games per season)
Dr Cash 450,000 (asset account increases)
Cr Unearned Ticket Revenue 450,000 (liability account increases)
C) Since 5 games were played during October, 5/30 of ticket revenue must be recognized. $450,000 x 5/30 = $75,000
October 31. Recognition of ticket revenue (5 games).
Dr Unearned Ticket Revenue 75,000 (liability account decreases)
Cr Ticket Revenue 75,000 (revenue account increases)
The subject of this question is Business, and it addresses transactions made by a semi-professional hockey team in September before their season begins in October. It explains the prepaid rent, unearned ticket revenue, and home games played by the team.
Explanation:The subject of this question is Business and it is suitable for College level. The student is seeking clarification on transactions made by a semi-professional hockey team, The Scarlet Pages, in September, before their season begins in October. The transactions mentioned are:
(a) The team paid $150,000 in advance rent to Oklahoma City for the use of Oklahoma City Arena from October 1 to March 31.
(b) The team collected $450,000 in cash from sales of season tickets and credited it to Unearned Ticket Revenue.
(c) During October, the team played five home games.
These transactions provide insights into the financial activities of The Scarlet Pages before their season starts. It involves prepaid expenses, revenue recognition, and the actual games played. Each transaction affects the team's finances in different ways, and understanding these transactions is essential for financial statement preparation and analysis.
Solan Inc. is externally oriented and focused on control. Its primary objectives are productivity, planning, and efficiency. Organizational members are motivated by the belief that performance that leads to the desired organizational objectives will be rewarded. These characteristics show that Solan Inc. has a(n) ______ organizational culture.
Explanation:
The given terms like productivity, planning and efficiency is too close to marketing. We can call the term marketing as "Sales" too. The marketing is the main source of revenue. Without business no industry can survive.Marketing is one of the major department, who actually bring business and thus reaching the organizational objectives.Productivity is one such important characteristics of market. This term is closely associated with a term called "target".Employees are expected to reach target to keep up the business.When Galaxy Ventures, a real estate company, entered the low-cost housing business, the market was already saturated with other players. Thus, the company was forced to exit the market due to lack of customer loyalty and substantial dividends, Galaxy Ventures was facing Multiple Choice O first-mover disadvantages. 0 comparative disadvantages O last-in first-out disadvantages. O absolute disadvantages. O late-mover disadvantages
Answer:
The answer is Late-mover disadvantages
Explanation:
A late mover is a company that enters a business some time after the business pioneers and early followers.
From the question above, Galaxy Ventures is a late mover in the low-cost housing business. They were at a huge disadvantage, and this includes:
First of all, lack of customer loyalty and substantial dividends (from the question).The pioneers and early followers can set the business standards which may be difficult for a late mover to follow.The pioneer can easily create entry barriers that a late-mover might find difficult to break.
Rhonda, a general manager, makes a decision on behalf of the business that leads to some personal financial gains, while the company's owners incur financial loses. Which ethical issue is depicted in this scenario?
Answer:
Conflict of interest .
Explanation:
The scenario depicts a conflict of interest. Rhonda's decision benefits Rhonda at the expense of the company. Rhonda does not fulfill the responsibility to ensure that the company stays profitable, which is a conflict of interest. A conflict of interest, one of the most common ethical issues identified by employees, exists when a person must choose whether to advance his or her own personal interests or those of others.
What is an accurate description of how the political economy of many of the world’s nation-states has changed radically since the late 1980s? a. There has been a move away from centrally planned and mixed economies and toward a more free market economic model. b. New communication technologies have increased countries' ability to control access to uncensored information. c. Market-based economic systems have been replaced by command economies. d. There has been a significant reduction of the middle class. e. Democratic governments have been replaced by totalitarian governments.
Answer:
A. There has been a move away from centrally planned and mixed economies and toward a more free market economic model.
Explanation:
In that period of time, the Soviet union was regarded as the biggest nation who adopted a centrally planned economic model. The country was so poor and a lot of dissatisfaction arise among the people due the centrally planned economic system. Eventually, members of soviet union started to seek their own independence, Leading to the fall of the soviet union in 1991.
The rest of the countries witnessed this Downfall and started to move away from centrally planned and mixed economies toward a free market model. They fear that if they adopted them, their country will fall into poverty just like the Soviet Union.
Suppose that at a price of $30 per month, there are 30,000 subscribers to cable television in Small Town. If Small Town Cablevision raises its price to $40 per month, the number of subscribers will fall to 20,000. Using the midpoint method for calculating the elasticity, what is the price elasticity of demand for cable television in Small Town?
a. 0.66
b. 0.75
c. 1.0
d. 1.4
e. 2.0
Answer:
-1.4
Explanation:
The computation of the price elasticity of demand using mid point formula is presented below:
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of quantity demanded)
where,
Change in quantity demanded would be
= Q2 - Q1
= 20,000 - 30,000
= -10,000
And, the average of quantity demanded would be
= (20,000 + 30,000) ÷ 2
= 25,000
Change in price would be
= P2 - P1
= $40 - $30
= $10
And, the average of price would be
= ($40 + $30) ÷ 2
= 35
So, after solving this, the price elasticity of demand is -1.4
The price elasticity of demand for cable television under the given conditions is approximately -1.4, indicating demand is elastic.
Explanation:The price elasticity of demand can be calculated using the midpoint method formula: (change in quantity / average quantity) / (change in price / average price). Let's calculate it for this scenario:
The change in quantity is 20,000 - 30,000 = -10,000 (a decrease, hence the negative sign). The average quantity is (30,000 + 20,000) / 2 = 25,000.
So the quantity part of the equation is -10,000 / 25,000 = -0.4.
The change in price is $40 - $30 = $10. The average price = ($30 + $40) / 2 = $35.he price part of the equation is $10 / $35 = 0.29.
Now, we divide the quantity part by the price part: -0.4 / 0.29. Therefore, the price elasticity of demand is about -1.4 (option d), which means demand is elastic. Remember, ignore the negative sign when stating your final answer – it just indicates that this is a normal good (value decreases as price increases).
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Rita, a follower of a certain religion, posts a podcast on the Sabbath! website in which she insists that Congress base all federal law on her religious principles. Under the First Amendment, Rita is guaranteed _______.
a. the right to fair payment for her podcast.
b. the right to a review of her opinion in due process.
c. the power to delegate her view to the federal government.
d. the freedoms of religion and speech.
Option D
Under the First Amendment, Rita is guaranteed the freedoms of religion and speech.
Explanation:The First Amendment to the US Constitution is the section of the Bill of Rights and defends center American civil rights. The First Amendment defends Americans’ rights to the freedom of speech, press, assembly. Ere the twentieth century, most free speech concerns associated prior prescription.
The Court has also acknowledged a list of protests to provisions shielding the freedom of speech. Speech associated with national security or state secrets may likewise not be defended. Particular kinds of speech are not shielded, such as vulgarity, fight words, valid threats, child obscenity
Final answer:
Rita, under the First Amendment, is guaranteed the freedoms of religion and speech, allowing her to express her religious views and advocate for laws through her podcast.
Explanation:
Under the First Amendment, Rita is guaranteed “d. the freedoms of religion and speech.” The First Amendment explicitly states that “Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press”, securing both Rita’s right to practice her religion and to express her views publicly through her podcast. It is important to note that while Rita has the right to advocate for laws based on her religious principles, the Establishment Clause of the First Amendment prevents the government from actually enacting laws that establish a religion, thus maintaining a separation of church and state.
You invested a total of $8,400 in shares of the three stocks at the given prices, and expected to earn $248 in annual dividends. If you purchased a total of 200 shares, how many shares of each stock did you purchase?
Answer:
WSR's stock = 100
HCC's stock = 50
SNDK stock = 50
Explanation:
let W = WSR's stock
let H = HCC's stock
let S = SNDK stock
W + H +S = 200
16W + 56H + 80S = 8,400
(16 X 7%)W + (56 X 2%)H + (80 X 2%)S = 1.12W + 1.12H + 1.6S = 248
-1.12(W + H +S) = -1.12 x 200
-1.12W - 1.12H - 1.12S = -224
1.12W + 1.12H + 1.6S = 248
0.48S = 24
S = 24/0.48 = 50
W + H + S = W + H + 50 = 200
W + H = 150
16W + 56H + 80S = 16W + 56H + 4,000 =8,400
16W + 56H = 4,400
-16(W + H) = -16 X 150
-16W -16H = -2,400
16W + 56H = 4,400
40H = 2,000
H = 2,000 / 40 = 50
W + H +S = 200
W + 50 + 50 = 200
W + 100 = 200
W = 100
To find the number of shares of each stock purchased, set up a system of equations.
Explanation:To find the number of shares of each stock you purchased, we can set up a system of equations. Let's assume you purchased x shares of the first stock, y shares of the second stock, and z shares of the third stock. The total number of shares is given by x + y + z = 200.
The total cost is given by the prices of the shares, which we'll call p1, p2, and p3, multiplied by the number of shares: p1x + p2y + p3z = 8400.
Lastly, the total annual dividend is given by the dividend of each stock, which we'll call d1, d2, and d3, multiplied by the number of shares: d1x + d2y + d3z = 248.
From these equations, you can solve for the values of x, y, and z to find the number of shares of each stock you purchased.
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Julia gives importance to both relationships and tasks. She clarifies task objectives and setting policies and budgets. She also provides aid and guidance to her subordinates. She acknowledges their accomplishments and allows them to provide suggestions. According to the situational theory of leadership, Julia has adopted the ________.
a. supporting leader style
b. entrusting leader style
c. directing leader style
d. coaching leader style
Answer:
a. supporting leader style
Explanation:
in a supporting leadership style, the head of the team is aim at developing his or her team member (sub ordinate), training them to be independent and guide them on how to achieve a given task.
in this scenario, Julia shows a supporting leadership style by:
providing aid and guidance to her subordinates and
acknowledging their accomplishments and allows them to provide suggestions.
She is trying to help her subordinate to achieve the challenge tasks given to them.
Charlie tells Jamal that Marisol has agreed to allow him to sell her racing bicycle. Marisol is present at the time, hears the conversation, and says nothing. Jamal agrees with Charlie to buy Marisol's bike. Marisol then refuses to sell the bicycle. Marisol claims that she is not bound by the agreement formed by Charlie and Jamal because Charlie is not her agent. Marisol likely is:
a. not bound by the contract because she did not have an agency agreement with Charlie.
b. bound by the contract, under a theory of agency by operation of law.
c. not bound by the contract because of a rescission.
d. bound by the contract, under a theory of agency by estoppel.
Answer:
d. bound by the contract, under a theory of agency by estoppel.
Explanation:
The concept of agency by estoppel is when a principal (Marisol) gives the impression that a third party (Charlie) is acting on their behalf. The third party (Charlie) becomes an agency by estoppel.
Any contract that Charlie enters on behalf of Marisol is binding on her. So the sale of the race bicycle is a contract Marisol should respect.
What is the business importance of managing the quality of business processes? Describe two methods of quality management.
Answer:
2 methods are LEAN and Kaizen
Explanation:
The value of quality management is to help businesses enhance the dependability, longevity and quality of their goods. Such variables distinguish a company from its rivals. Quality products equal more satisfied customers and more income.
Lean is a very diverse management technique. Lean most often uses the term theory to be embraced by the company (business). Lean is based on a number of fundamental principles. It is essentially the organization's attempt to improve constantly in all aspects and prevent unnecessary waste.
Kaizen is an development process centered on Japanese cultural heritage. The focus of the enhancement is to progressively optimize methods and working practices, improving quality and reduce scrap, save resources and time to reduce costs, increase workplace safety and reduce working-place hazards.
Answer:
a) Business processes is a set of activities and tasks that once completed, will accomplish an organizational goal.
Therefore, the importance of managing the quality of business processes is that it can help you improve your overall operations, It can minimize your expenditures, give you better control of the execution of tasks, pinpoint operational deficiencies, and give you insights to make better business decisions.
b) Two Methods Of Quality Management
1. DMAIC - Improvement Cycle is a universally applicable method of gradual improvement. It is used for any improvement - for example, quality of products, services, processes, applications, data. Each stage in the cycle helps achieve a real improvement. Improvement cycle phases are:
D (Define) - objectives are defined, it is described subject and improvement objectives (product, service, process, data, etc.)
M (Measure) - measurement of initial conditions in term of the principle “what I don’t measure, that I don’t control”
A (Analyze) - analysis of the facts, causes of deficiencies
I (Improve) - key phase of the whole cycle, in which the improvement is based on analyzed and measured facts
C (Control) - improved deficiency should be introduced - to manage and maintain the improvements in life .
2) CAF Model (Common Assessment Framework) is a quality management tool, which was created for the conditions of public sector organizations.The basis of the CAF is self-assessment which helps the organization to identify both its strengths and also get an overview of activities leading to the continuous improvement of the organization’s performance.
Explanation:
Costs of Goods Sold of a manufacturing represents the costs related to building a product that are expensed when it is sold. To determine Costs of Goods Sold, three formulas where used representing the three different categories of inventory. Which schedule is based on work in process inventory?A. Direct Materials Used B. Income StatementC. Cost of Goods SoldD. Costs of Goods Manufactured
Answer:
Costs of Goods Manufactured
Explanation:
Im production raw materials are purchashed and put in to the factory to make goods. The first stage is work in progress (unfinished goods), then finished goods, finally the finished goods are sold.
So the schedule that is based on work in progress inventory (WIP) is the finished goods that is produced from WIP.
A firm's information policy includes rules that lay out who is responsible for updating and maintaining the information in a database system. True False
Answer:
True
Explanation:Information policy can be seen a singular set of policies made public by an organization to make sure that all her IT users in the domain or network of the organization comply with guidelines and regulation related to the protection of the information stored online/digitally at any point within the organization's boundaries of authority or in the network.
Star Volans Inc. is planning on expanding its business globally. In terms of the costs involved in conducting business in a country, it will be most economical for the company if it chooses a country:
A) Where laws regarding product safety, safety in the workplace, and environmental pollution are extremely stringent.
B) Where politicians are held accountable by the electorate.
C) Where the company will have to provide its own infrastructure and supporting business.
D) With no local laws to protect intellectual property.
E) With a closed totalitarian political system.
Answer:
Option B
Explanation:
Option B is correct because they have a duty to serve the interest of the population by providing them with favourable services and involving them in the making important decisions that is profitable and this would help the establishment of a business that is profitable to the country easy and cheap.
When the strong dictatorial rule in Beckenstein unexpectedly collapsed due to the shocking death of the royal family in an explosion, the nation's economy experienced drastic changes. The laws became more restrictive, the country lost many locally produced resources and products, and the distribution of wealth became inequitable. The unexpected event that led to these changes can best be described as a(n) _____ event.
Answer:
black swan
Explanation:
Hana Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are then transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at July 31:
ACCOUNT Work in Process—Roasting Department ACCOUNT NO.
Date Item Debit Credit Balance
Debit Credit
July 1 Bal., 30,000 units, 10% completed 121,800
31 Direct materials, 155,000 units 620,000 741,800
31 Direct labor 90,000 831,800
31 Factory overhead 33,272 865,072
31 Goods transferred, 149,000 units ?
31 Bal., ? units, 45% completed ?
Required:
1. Prepare a cost of production report, and identify the missing amounts for Work in Process—Roasting Department. If an amount is zero, enter "0". When computing cost per equivalent units, round to the nearest cen
To prepare a cost of production report for the Roasting Department at Hana Coffee Company, one must add the initial balance to the costs incurred in the current month, subtract the cost of units transferred, and determine the cost associated with the units still in process.
The data provided gives us enough information to compute the cost of production for the Hana Coffee Company's Roasting Department.
We start with the initial balance of $121,800 for 30,000 units that were 10% completed.
Then, we add the costs incurred in that month: $620,000 for direct materials, $90,000 for direct labor, and $33,272 for factory overhead. These amounts sum up to $865,072.
This represents the total costs that were associated with 149,000 units that were transferred out of the Roasting Department and into the Packing Department.
The remaining balance represents the cost associated with a certain number of units that are 45% completed.
To find this number, we would subtract the cost of the goods transferred out from the total costs.
This would give us the ending balance for Work in Process - Roasting Department.
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Which of the following changes in the loanable funds market will decrease the equilibrium real interest rate?
a.A decrease in private savings
b.A decrease in the expected inflation rateBAn increase in government spending on highways financed by borrowing
C.An increase in foreign financial capital inflows
D.An investment tax credit for plant and equipment
Answer:
The answer is Option C
Explanation:
Any event that would either decrease the demand for loanable funds or increase the supply of loanable funds will decrease the equilibrium interest rates. Supply of loanable funds is affect by the amount of national savings. National savings in turn, is the sum of private savings, public saving and net capital inflow.
In option C, capital inflows are increasing. This means that there would be an excess supply of money in the economy which can be converted into loanable funds. This would, therefore, push the supply curve to the right thereby reducing the real interest rate equilibrium.
The loanable funds market will see a decrease in real interest rates if there is C. An increase in foreign financial capital inflows.
The interest rate in the loanable funds market will decrease when the supply of funds increases. This can happen when:
People begin to save more The government embarks on an expansionary monetary policy More foreign funds came into the countryThe increase in foreign financial capital means that there is now more money to loan to people so the interest rates will decrease.
In conclusion, an increase in funds will decrease the interest rates.
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Which of the following is a limitation of the simple circular flow model? A. Product markets are ignored. B. Resource markets are ignored. C. The determination of product and resource prices is not explained. D. Households are included, but not businesses. Explain Your Answer:
Answer:
C. The determination of product and resource prices is not explained
Explanation:
Circular Flow of Income is flow of payments & receipts for - goods, services & factor services between different sectors of economy (firms & households).
Households provide factors of productions to firms, firms pay them factor incomes in return.
Firms provide goods & services to households, households pay them prices as consumption expenditure (from factor incomes earned) in return.
So: Both product & resource markets, both households & businesses are included.
The limitation is that : It doesn't state anything about prices in product market & resource markets.
The limitation of the simple circular flow model is that it does not explain the determination of product and resource prices. It assumes a fixed price level, ignoring factors that alter prices.
Explanation:The simple circular flow model is a simplified representation of how money, goods, and services flow throughout the economy. In this model, the key players are households and businesses, and the two markets considered are the product and resource markets. However, one limitation of this model is option C: The determination of product and resource prices is not explained.
The simple circular flow model assumes a fixed price level and does not delve into the factors that would alter the prices of products or resources. This can make the model less valuable in understanding certain aspects of economics, such as inflation or price adjustments due to supply and demand conditions.
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Arrow Straight Corporation makes archery supplies. While using an Arrow Straight bow, Jamie is injured due to a defect in the bow that causes an arrow to misfire. Kaley, another archer standing by is also injured. In a product liability suit based on strict product liability, Arrow Straight may be liable to
Answer:
Jamie and Kaley
Explanation:
As per product liability, a seller is held responsible for any injury caused by using the product by the consumer, that is sold by the seller. There is no federal law in place but lawsuits can be filed with state or federal court against the seller in case of injuries caused as a result of using defective product.
In this case, bows sold by Arrow Straight caused injuries to Jamie and Kaley. As such, the company is held responsible and may be liable to pay for the damages caused to Jamie and Kaley.
Answer:
Jamie and Kaley.
Explanation:
Strict product liability is the principle that irrespective of the complainant's negligence, a dealer, retailer or supplier is responsible for a manufacturing fault. It doesn't matter if the item's seller, dealer or maker takes proper steps to ensure that the goods are not faulty.
In this situation Arrow Straight Corporation manufactured a bad product, so Arrow straight is liable to Jamie and Kaley.
After surviving an ischemic stroke, a client has demonstrated significant changes in his emotional behavior, with his family noting that he now experiences wide mood swings and exaggerated responses of empathy, anger, and sadness to situations. His care team would most likely attribute these responses to ischemic changes in which brain structure?a. The man's occipital lobe
b. The client's temporal lobe in general and Wernicke area in particular
c. The man's parietal lobe
d. The components of the client's limbic system
Answer:
d. The components of the client's limbic system
Explanation:
The limbic system is located on both sides of the thalamus, is responsible for an individual's emotional responses and is also related to the formation if memories.
I hope you find this information useful and interesting! Good luck!
A CPA is aware that a sole proprietor client has "skimmed" unrecorded cash receipts and thus not reported them to the Internal Revenue Service. If the CPA signs the entity's tax return as a CPA after preparing the return, he/she would be violating which AICPA Rule of Conduct?A) Rule 101 Independence.
B) Rule 102 Integrity & Objectivity.
C) Rule 203 Accounting Principles.
D) Rule 301 Confidential Client Information.
Answer:
B) Rule 102 Integrity & Objectivity
Explanation:
Rule 102 states that in carrying out an assignment there should be integrity and objectivity, facts must not be misrepresented, there should be no conflict of interest, and his judgement must not be influenced by others.
The CPA did not correct the financial records which excluded cash receipts in a bid to avoid tax charges. The facts on the records are misleading.
He also signed the document containing false information.
Alice is willing to spend $30 on a pair of jeans, and has a coupon for $10 off she found online.
She selects and purchases a $35 pair of jeans, pre-discount.
-----
What is Alice's Consumer Surplus?
Answer:
$5
Explanation:
The computation of Alice's consumer surplus is shown below:
Consumer surplus = Willing to spend - Market price after considering the discount
where
Willing to spend = $30
Market price equals to
= Purchase a pair of jeans - coupon rate
= $35 - $10
= $25
So, the consumer surplus is equal to
= $30 - $25
= $5
The Alice's consumer surplus for the pair of jeans is $5. This means that she saved $5 compared to what she was willing to pay, thanks to the $10 coupon she used.
Consumer surplus is a concept in economics that represents the difference between what a consumer is willing to pay for a product and what they actually pay.
In this scenario, we can calculate Alice's consumer surplus as follows:
1. Alice's willingness to pay (WTP) for a pair of jeans is $30.
2. She has a coupon for $10 off, so the actual price she pays is $35 - $10 = $25.
Consumer Surplus = WTP - Actual Price Paid
Consumer Surplus = $30 - $25
Consumer Surplus = $5
It reflects the additional value she gained from the discount and is a measure of her economic benefit from the purchase.
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If he devotes all of his available resources to cantaloupe production, a farmer can produce 120 cantaloupes. If he sacrifices 1.5 watermelons for each cantaloupe that he produces, it follows that:____________
A. If he devotes all of his available resources to watermelon production, then he can produce 80 watermelons.
B. He cannot have comparative advantage over other farmers in producing cantaloupes.
C. His opportunity cost of one watermelon is 2/3 of a cantaloupe.
D. His production possibilities frontier is bowed-out.
Answer:
C. His opportunity cost of one watermelon is 2/3 of a cantaloupe.
Explanation:
Opportunity cost refers to units of production sacrificed of one good to produce an extra unit of another good.
In the given case, for every 1 unit of Cantaloupe, a farmer is required to sacrifice the production of 1.5 units of watermelon.
This means, production of 1 cantaloupe = production of 1.5 water melons.
Thus, to produce an additional unit of watermelon, sacrifice of 1/1.5 cantaloupe is required.
This means, the farmer's opportunity cost of one watermelon in the form of cantaloupe sacrificed is 2/3 of a cantaloupe.
As the president of a local trade company, Kristin is faced with leadership, ethical, and operational decisions on a daily basis. Kristen's responsibilities include examining the organizational resource of information and regulating its definitions, uses, value, and distribution ensuring it has the types of information required to function and grow effectively. What is Kristin overseeing for the company?a. information codes
b. information management
c. information deployment
d. information security
Answer:
B. Information Management
Explanation:
According to Wikipedia, Information management is the collection and management of information from one or more sources and the distribution of that information to one or more audiences.
It is involves collecting, storing and managing information gotten in all its forms. Of course, there are various forms of information, whether physical or electronical or otherwise.
Kristen's Job in the company involves organizing resources info (collecting), regulating how they are used and making sure they are the necessary information needed by the company's workers which is all part of the information management process.
The local electronics store is offering a promotion "1-year: same as cash," meaning that you can buy a tv now, and wait a year to pay (with no in
Answer:
$961.54
Explanation:
To calculate the real price of the TV you would have to determine the present value of the TV's price. The future price of the TV is $1,000 and your discount rate is 4% annual (the same as your bank), so the present value of the TV =
present value = future value / (1 + rate) = $1,000 / 1.04 = $961.54
If your bank is offering an interest of 4%, then the true cost of the television would be $961.54.
How to determine the true costTo determine the true cost means that we find out the present value. The future rate is designated at $1,000 while the rate is 4%. Using the formula for the present value, we would have the following;
Present value = future value / (1 + rate)
= $1,000 / 1.04
= $961.54
So, the present value of the electronic would be $961.54.
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Complete Question:
The local electronics store is offering a promotion "1-year: same as cash," meaning that you can buy a TV now, and wait a year to pay (with no interest). So, if you take home a $1,000 TV today, you will owe them $1,000 in one year. If your bank is offering 4% interest, what is the true cost of the TV to you today?
The ____ principle morally requires employees to support the rules of the organization as long as the organization is just (or fair) and employees have voluntarily accepted some benefits or opportunities in order to further their own interests.
Answer: Fairness principle
Explanation:
The fairness principle is the term which is used to refers to the action or the outcome that should be taken as the fair decision. The fairness principle basically establishing the various types of moral standards that helps in making the various types of decisions in an appropriate manner.
The fairness is characterizing on the basis of , justice and liberty and it is refers to the fair equality in terms of opportunities in an organization.
According to the given question, the fairness principle supporting the various types of fairness rules in the firm for providing the various types of benefits to the employees of an organization.
Therefore, Fairness principle is the correct answer.
During _______ potential consumers examine a product prototype in a real-use setting to determine its functionality, potential problems, and other issues specific to its use. a. concept testing b. alpha testing c. beta testing d. idea generation
Answer: Beta Testing
Explanation:
Beta Testing is a method used by a production company to test a product they intend sending into a market, by allowing potential consumers of the product to access it and give feedback on the product. The Beta Test helps the producers to give the consumers the product they desire for consumption.
The law of demand states that, other things remaining the same, the higher the price of a good, the ________. a. smaller is the quantity of the good demanded. b. larger is the quantity of the good demanded. c. larger is the demand for the good. d. smaller is the demand for the good.
The law of demand states that as the price of a good increases, the quantity of the good demanded decreases.
Explanation:The answer to the question is option a. Smaller is the quantity of the good demanded.
The law of demand states that, other things remaining the same, as the price of a good increases, the quantity of the good demanded decreases. This inverse relationship between price and quantity demanded is represented by the downward-sloping demand curve.
For example, let's consider the market for smartphones. When the price of smartphones increases, fewer consumers would be willing and able to purchase them, resulting in a decrease in the quantity of smartphones demanded.
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