Answer:
C. Distinctive competence
Explanation:
Distinctive competence -
It refers to the complete skill and practice , which enables to give rise to a very tough competition to the rest of the organisations , and thereby makes the particular organisation to stand out from crowd , is referred to as the distinctive competence .
The distinctive competence of a particular company or firm act as a weapon or a protective agent during their tough time .
Hence , from the given scenario of the question ,
The correct answer is C. Distinctive competence .
Gloria is a manager in a paints and coating manufacturing company. Although the authority of making the final decision lies with her, she is open to suggestions from her peers and employees and tries her best to incorporate them in various situations. In this case, Gloria is a(n) _____.
Complete answer:
Gloria is a manager in a paints and coating manufacturing company. Although the authority of making the final decision lies with her, she is open to suggestions from her peers and employees and tries her best to incorporate them in various situations. In this case, Gloria is a(n) _____.
a.free-rein leader
b. laissez-faire leader
c. autocratic leader
d. democratic leader
Answer:
Gloria is a democratic leader
Explanation:
The model of democratic leadership is a leadership that shares decision-making capacity with party members through the pursuit of the Group's values and the practice of social inclusion.
The cooperative leadership attributes include responsibility sharing, respect for members of the party and the decision taking of the supportive group.
Democratic leadership advantages include building happiness for staff and promoting creativity and innovative solutions to organisational challenges.
Final answer:
Gloria exemplifies a consultative management style by valuing her team's input and incorporating it into decision-making, aligning with modern trends toward a more collaborative manager/employee relationship.
Explanation:
Gloria is a manager in a paints and coating manufacturing company who, despite having the authority to make the final decision, remains open to suggestions from her peers and employees, striving to incorporate their input when possible. This managerial style is often referred to as being consultative. A consultative manager values the input of their team and understands the positive impact of including diverse perspectives in decision-making processes. Such a management approach falls in line with a modern understanding of the manager/employee relationship, which is more of a two-way street, beneficial for both the organization and the personal and professional growth of the employees.
In the context of Gloria's managerial approach, she likely aligns with the vision of a "perfect" manager, which includes being inspiring, confident in the team's abilities, and concerned about the growth and development of each employee. Gloria's approach not only contributes to a healthy work environment but also significantly influences the career satisfaction and growth of her employees. This type of leadership can be immensely powerful and positive for those she manages.
Young children are permitted to work in the manufacturing of soccer balls in Pakistan, but this would not be legal in the United States. However, a company wants to sell these soccer balls in the United States to Kick-Rite Sports Equipment and Kick-Rite is not sure it wants to sell these particular soccer balls. This is an example of a(n) ______ dilemma.
Answer:
no jodas
Explanation:
A college professor wants to know if the university students in the Unites States will find the new textbook that he has authored to be interesting and useful. He chooses all marketing majors at the school he teaches as his sample. He believes that this group of students will be representative of the university student population in the United States. In this scenario, the professor is most likely using:_______. a. area sampling.b. judgment sampling.c. cluster sampling.d. quota sampling.e. census sampling
Answer:
b. judgment sampling.
Explanation:
In this scenario, where he believes that this group of students will be representative of the university student population in the United States, the professor is most likely using Judgment or Expert sampling which is normally used in circumstances where the pointed population involves very intelligent people like student of the University of United States here who cannot be determined by using any different type of probability or non-probability sampling method.
The professor is using judgment sampling, where the sample is selected based on his own judgment rather than random selection, which often introduces biases.
Explanation:The college professor's belief that marketing majors at his own school can represent university students across the United States is an example of judgment sampling. Judgment sampling involves the selection of a sample based on the judgment of the researcher, rather than using random or statistical methods to ensure a representative sample. This form of sampling relies on the belief that the chosen sample will be typical or representative of the broader population, though it often introduces various biases and isn't guaranteed to accurately represent the larger group.
The money interest rate is the percentage of the amount borrowed that must be paid to the lender in addition to the repayment of the principal. The real interest rate reflects the actual burden on borrowers and the payoff to lenders after accounting for the impact of inflation. True or false?
The given statement is TRUE
Explanation:
When the modification is done in order to remove the results of inflation and to show the real cost of the amount or money that has been raised, or the real yield on the amount of money that is given by the lender is the real interest rate.
When the total amount inclusive of the principal amount that has been borrowed from the lender along with the interest on it is to be paid back, then such interest rate is known as the money interest rate.
Therefore, as per the given information in the question, the statement is TRUE.
The given statement is TRUE
Explanation:
When the modification is done in order to remove the results of inflation and to show the real cost of the amount or money that has been raised, or the real yield on the amount of money that is given by the lender is the real interest rate.
When the total amount inclusive of the principal amount that has been borrowed from the lender along with the interest on it is to be paid back, then such interest rate is known as the money interest rate.
Therefore, as per the given information in the question, the statement is TRUE.
Two small airlines provide shuttle service between Las Vegas and Reno. The services are alike in every respect except that Fly Right bought its airplane for $500,000, while Fly by Night rents its plane for $30,000 a year. If Fly Right were to go out of business, it would be able to rent its plane to another airline for $30,000. Which airline has the lower costs?
Answer:
the economic cost is the same for both airlines
Explanation:
The economic cost considers both accounting and implicit costs. Fly by Night's economic cost = $30,000 per year which is equal to its annual lease. Fly Right's economic cost is also $30,000, because that is the opportunity cost of using the airplane. If they decided to buy a bigger (or smaller) plane, they could lease this one at $30,000, so that is its economic cost.
Beginning inventory, january 1: $4,000 net sales: $80,000 net purchases: $78,000 the company's gross margin ratio is 25%. using the gross profit method, the estimated ending inventory value would be:
Answer:
$26,000
Explanation:
Beginning inventory, january 1: $4,000
net sales: $80,000
net purchases: $78,000
If the company's gross margin ratio is 25%. using the gross profit method, the estimated ending inventory value would be derived from the formula -
1. Beginning inventory + Purchases - ending inventory = Cost of Goods Sold.
and
2. Sales - Cost of Goods Sold = Gross profit.
Therefore beginning from 2. If the gross profit is 25%, then the Cost of Sales is 75% of Sales value which is 0.7 x $80,000 = $56,000
Therefore going to formula 1 above, and using 56,000 as the value of Cost of goods sold:
Beginning inventory + Purchases - Ending inventory = Cost of Goods Sold. which implies that 4,000+78,000 - ending inventory = $56,000
Therefore ending inventory = 78,000 + 4000 - 56,000 = $26,000
Answer:
$22,000
Explanation:
cost of goods sold = beginning inventory + purchases - ending inventory
beginning inventory = $4,000net purchases = $78,000COGS = ?ending inventory = ?COGS = 75% of total sales = 75% x $80,000 = $60,000
$60,000 = $4,000 + $78,000 - ending inventory
ending inventory = $82,000 - $60,000 = $22,000
On January 2, 2019, Kornis Corporation acquired equipment for $ 300 comma 000. The estimated life of the equipment is 5 years or 80 comma 000 hours. The estimated residual value is $ 40 comma 000. What is the balance in Accumulated Depreciation on December 31, 2019, if Kornis Corporation uses the doubleminusdecliningminusbalance method of depreciation?
Answer:
$120,000
Explanation:
The computation of the accumulated depreciation for the December 31,2019 using the double -declining method is shown below:
First we have to find the depreciation rate which is shown below:
= One ÷ useful life
= 1 ÷ 45
= 20%
Now the rate is double So, 40%
In year 1, the acquired cost is $300,000 , so the depreciation is $120,000 after applying the 40% depreciation rate
Elyon holds a savings account in the Rochester City Bank in the United States. During an economic downturn, the bank suffers great losses. Elyon, however, is insured under the Federal Deposit Insurance Corporation and his savings are protected as the insurance covers his deposit value. Which of the following laws ensured the protection of depositors from a bank's failure?
A. The Sarbanes-Oxley Act
B. The Glass-Steagall Act
C. The Gramm-Bliley-Leach Act
D. The Securities Act
Answer:
Option B The Glass-Steagall Act
Explanation:
According to the Glass-Steagall Act, the commercial banking was separated from the investment banking. This was made to provide the investor investment security by creation of the Federal Deposit Insurance Corporation.
So here Elyon will be entertained with the imbursement of the amount at the deposit value which the insurance will safeguard the depositor's value due to bank failure.
Answer:
B) The Glass-Steagall Act
Explanation:
The Glass-Steagall Act was passed in 1933 and its main purpose was to divide banking activities into investment banks and commercial banks. Banks had to be either one of them, but they couldn't offer both services. It was finally repealed in 1999 by the Financial Services Modernization Act of 1999 which currently allows banks to provide both commercial and investment services.
The Glass-Steagall Act was extremely controversial at its time and it barely passed because Senator Carter Glass didn't have enough support for his law until Representative Henry Bascom Steagall joined him after the law included the creation of the Federal Deposit Insurance Corporation. The FDIC was created in 1933 just after the law was approved and since then it insures depositors from bank failures.
Anita is employed as plant manager for Mojo Industries, Incorporated. Though she spends some time performing all management functions, she is particularly concerned with tactical planning and controlling. Anita's position would be classified as part of Mojo's:
Answer:
middle management
Explanation:
Based on the scenario being described within the question it can be said that Anita's position would be classified as part of Mojo's middle management. This management level is responsible for leading the line managers as well as junior staff employees and their performance/productivity, including planning and controlling to make sure that everything is running as efficiently as possible.
An option trader writes 5 June 255 calls at 3 and 5 June 245 puts at 2. If the trader later repurchases the calls at 4 and the puts expire worthless, the trader's profit or loss will be:
Answer:
$500 profit
Explanation:
The calls are being made at 4. Therefore, the trader would be receiving
Income = 1000+1500 = $2500
The calls were purchase at 4 and puts expired worthless.
This implies; at 4 = 4×5 = 20
20×100 = $2000
Net profit/loss = 2500 - 2000
Net profit = $500
Matt tells Ron that the snow boots he is selling offer protection for temperatures of 20° below zero. Ron orders a pair for his trip to Greenland. Upon delivery, Ron sees that the box states "will protect your feet in temperatures down to 30° below zero." The first night's temperature goes down to 27 below. Ron suffers frostbite on all of his toes. Ron then sues for breach of warranty. What is the result?
Answer:
A) Breach, because the latter express warranty is valid.
Explanation:
Based on the scenario being described within the question it can be said that the result would be a breach. This is mainly due to the fact that the box stated that "will protect your feet in temperatures down to 30° below zero." and this is a valid express warranty that is being marketed by the company that created the product. Therefore since the temperature did not go below 30 and Ron still suffered frostbite then he can rightfully sue.
Pell Manufacturing is preparing its direct labor budget for May. Projections for the month are that 33,400 units are to be produced and that direct labor time is three hours per unit. If the labor cost per hour is $12, what is the total budgeted direct labor cost for May
Answer:
Direct labor cost= $1,202,400
Explanation:
Giving the following information:
Projections for the month are that 33,400 units are to be produced and that direct labor time is three hours per unit. The labor cost per hour is $12.
First, we need to calculate the total amount of direct labor hours required:
Total numbers of hours= 33,400 units*3= 100,200 hours
Now, we can calculate the total cost:
Direct labor cost= 100,200*12= $1,202,400
Explanation:
Below is an attachment containing the solution
Strategy at a ________ level is primarily focused on the products and services provided to customers and on finding ways to develop and maintain a sustainable competitive advantage with these customers. 1. functional 2. business unit 3. corporate 4. divisional
Answer:
2. business unit
Explanation:
The business-level unit strategy refers to the strategy that mainly focused on the company products and the services that would be provided to the customers with the aim of gaining maximum profit, competitive advantage so that the company goals and the objectives could be accomplished.
Offering them better products and services create the long term relation with the customer that would result in a sustainable competitive advantage so that it could create a standardized position in a market
As part of his senior project, Kevin is conducting a survey of eating attitudes and behaviors among young adults. Kevin distributes questionnaires to 150 randomly selected students enrolled in lower-level psychology courses at his university. These students make up Kevin's
Answer:
sample.
Explanation:
The 150 students that received Kevin's questionnaire are considered the research sample, while young adults in general would be considered the research population. The whole idea behind using a sample is that you can extrapolate the data obtained from the sample to the whole population.
Assuming a system of flexible exchange rates between Mexico and the United States, indicate whether each of the following would cause the Mexican peso to appreciate or depreciate:
a. The United States unilaterally reduces tariffs on Mexican products.
b. Mexico encounters severe inflation
c. Deteriorating political relations reduce American tourism in Mexico.
d. The U.S. economy moves into a severe recession.
e. The United States engages in a high-interest-rate monetary policy.
f. Mexican products become more fashionable to U.S. consumers.
g. The Mexican government encourages U.S. firms to invest in Mexican oil fields.
h. The rate of productivity growth in the United States diminishes sharply.
Answer:
Explanation:
a. The United States unilaterally reduces tariffs on Mexican products.
Peso appreciate
b. Mexico encounters severe inflation
Peso depreciate
c. Deteriorating political relations reduce American tourism in Mexico.
Peso depreciate
d. The U.S. economy moves into a severe recession.
Peso appreciate
e. The United States engages in a high-interest-rate monetary policy.
Peso depreciate
f. Mexican products become more fashionable to U.S. consumers.
Peso depreciate
g. The Mexican government encourages U.S. firms to invest in Mexican oil fields.
Peso appreciate
h. The rate of productivity growth in the United States diminishes sharply.
Peso appreciate
Answer:
Explanation:
The United States unilaterally reduces tariffs on Mexican products.
The peso will appreciate.
Mexico encounters severe inflation
The peso will depreciate.
Deteriorating political relations reduce American tourism in Mexico.
The peso will depreciate.
The U.S. economy moves into a severe recession
The peso will depreciate.
The United States engages in a high-interest-rate monetary policy.
The peso will depreciate.
Mexican products become more fashionable to U.S. consumers.
The peso will appreciate.
The Mexican government encourages U.S. firms to invest in Mexican oil fields
The peso will appreciate.
The rate of productivity growth in the United States diminishes sharply
The peso will appreciate
Eureka Pizza is considering investing in new infrared oven technology that allows them to cook their pizzas faster and more completely. Because none of his competitors are making this investment, they will be a first mover. According to the text, what is the biggest issue with Eureka being a first mover?
Answer:
The risk of being the first mover can be a few. The first and most important of all is the copy effect. Competitors, seeing the success the first mover is having, will try to copy and improve upon said new technique. Another one is that being the first mover is expensive since it is the first one to invest in new techniques. And, with that cost, comes the risk of losing investment in something that we can't know if it will make success because there's no history about it. We can mention regulatory resistance as well since depending on what new technique it is, it can be harder to obtain a regulatory license for it.
Which of the following refers to the costs of production that fluctuate depending on the number of units produced? A. Total cost B. Contribution per unit C. Markup D. Variable cost E. Fixed cost
Variable cost refers to the costs of production that fluctuate depending on the number of units produced.
Explanation:The cost of any product that changes based on the quantity of goods that are produced. The volume that is produced decides the fluctuations in the variable cost. Fixed cost is the cost that will not change based on the number of units of the goods that is produced. Rent of a building can be considered as a fixed cost.
Example for variable cost may be raw materials cost, packaging cost,etc. Variable cost can be calculated by adding up the cost of labor and raw materials that are used in the production of one unit of a good. The total variable cost can be calculated by multiplying variable cost per unit with the number of units produced.
Earnings on pooled investments and changes in fair value of investments are allocated to the participants having an equity interest in the pool in proportion to their relative contributions to the pool.1. true2. false
Answer:
1) True
Explanation:
Generally pooled investments like mutual funds issue their own shares that basically include the value of all the securities that the pool has invested in. If you invest $2,000, then you are given shares that represent $2,000 in investments. if the value of the investment rises 10%, the value of your shares will increase to $2,200 (10%).
The statement is 1) true; earnings and changes in the fair value of pooled investments are allocated proportionally based on participants' contributions. This maintains fairness and transparency.
The statement is true. This process ensures fairness and transparency in how investment returns and value changes are distributed among participants.
For example, if a participant has contributed $10,000 to an investment pool worth $100,000, they hold a 10% stake.
Therefore, if the pool earns $5,000 in investment income or experiences a $5,000 change in fair value, this participant would receive $500, proportional to their 10% contribution.
This method of allocation helps maintain an equitable distribution of financial benefits derived from pooled investment activities, ensuring that each participant benefits in direct correlation to their level of investment.
You are the sales manager for a pizza company and have been informed that the price elasticity of demand for your most popular pizza is greater than 1 (that is, the elasticity coefficient or Ed is greater than 1). To increase total revenues, you should
Answer:
decrease the sales price of that pizza.
Explanation:
When the price elasticity of demand (PED) is elastic, a small decrease in price will cause a larger increase in the quantity demanded.
For example, the PED is 1.5 (elastic) and the price of pizza is $8 and you sell 100 pizzas.
Prior to the price change total revenue = $8 x 100 = $800
You decrease the price by 10% to $7.20 per pizza, and the quantity demanded increases by 15% (= 1.5 x 10%) tot a total of 115 pizzas. Total revenue = $7.20 x 115 = $828
In other to increase total revenues, you as the sales manager should reduce the price of pizza.
Price Elasticity of Demand Shows the effect that changing prices will have on the demand for a good. An ED greater than 1 means that the change in demand will be greater than the change in price.If you reduce prices therefore, a situation will arise where more people demand the pizzas than the reduction in price. This will lead to more revenue for the business.
In conclusion, reduce the price.
Find out more on price elasticity of demand at https://brainly.com/question/25269265.
13. The work day has just started and you receive reports that the inventory management server is not accessible on your company's network. You recall that the new network administration assistant was working on that server last night. Which tool can you use to determine if the network administration assistant left that server's NIC disabled?
Answer:
Server Manager
Explanation:
Based on the scenario being described within the question it can be said that the best tool for this would be Server Manager. This is a management console tool that allows individuals to manage servers from a desktop computer either locally or remotely. This tool will allow you to determine if the network administration assistant left that server's NIC disabled remotely from anywhere with an internet connection.Thus making it the best option.
E-commerce creates a great deal of data on how consumers interact with a website. L.L.Bean keeps records that show how quickly consumers make decisions, how many alternatives they explore, and whether they stop without completing a purchase. When a manager sees an issue and proposes a solution, the company can easily test the solution. This is an example of:________.
Answer:
evidence based decision making
Explanation:
Evidence made decision making refers to making decisions about issues related to the company or person based on available information gathered through experiential evidence (i.e. things that happened before).
In this case, L.L. Bean has huge amounts of information about their customers and their purchasing habits. When the company must decide about any issue or proposed ideas, they will test those ideas with the information stored at their databases. It is a way of simulating a potential outcome based on existing evidence.
Chevrolet has decided to focus on emergent consumers in the automobile market, which includes those individuals who are graduating from college and either heading off to college or the workforce. Chevrolet is engaging in which aspect of STP marketing?
Answer:
Targeting.
Explanation:
STP marketing stands for segmentation, targeting and positioning. The STP of a company is how it decides to compete in a market, and is tailored to a business's unique situation.
Chevrolet has decided to focus on emergent consumers in the automobile market, which includes those individuals who are graduating from college and either heading off to college or the workforce.
Chevrolet is engaging in the targeting aspect of STP.
Chevrolet's focus on emergent consumers in the automobile market, such as new college graduates, exemplifies the 'targeting' phase of STP marketing by identifying and appealing to a specific demographic segment.
Explanation:When Chevrolet decides to focus on emergent consumers in the automobile market, specifically targeting individuals who are graduating from college and who are transitioning either to further education or the workforce, it is engaging in an aspect of STP marketing known as targeting. STP stands for segmentation, targeting, and positioning, three foundational steps in developing effective marketing strategies. In this case, Chevrolet is segmenting the market by identifying a specific group of potential consumers—new college graduates—and then targeting this group with marketing strategies that appeal to their unique needs and aspirations. This approach demonstrates Chevrolet's use of demographic segmentation to tailor its marketing efforts, ensuring that its products resonate with the lifestyles, preferences, and financial situations of emerging adults.
If ABC 10% bond closed at 101 3/8 down 3/4 for the day and would provide a current yield of 9.87%. The current yield if the bond had been purchased on the previous trading day would be:
The current yield of the ABC 10% bond if it were purchased the previous day at a price of 102 1/8 would have been 9.79%.
Explanation:The question revolves around the concept of the current yield of a bond and how it is affected by changes in the bond's market price. Since the ABC 10% bond closed at 101 3/8 and went down by 3/4 for the day, its previous closing price would have been 101 3/8 + 3/4, which is 102 1/8. To calculate the current yield if purchased on the previous day, use the formula for current yield, which is annual coupon payments divided by the market price of the bond.
If the bond's face value is $1,000 and the annual coupon rate is 10%, the annual coupon payment is $100. Purchasing the bond at 102 1/8 (which is $1,021.25 in market price), the current yield would have been:
Current Yield = (Annual coupon payment / Market price) * 100
Current Yield = ($100 / $1,021.25) * 100
Current Yield = 9.79%
Many owners of consulting companies took their own skills and launches businesses by selling those skills to other companies who needed them. This is an example of which of the following factors leading to business ideas?education and expertise
Answer:
education and expertise
Explanation:
Based on the scenario being described within the question it can be said that this is an example of education and expertise. By learning a skill or trade and gaining experience by continuously practicing and improving those skills anyone can sell those skills to other individual's or company's that require those skills but do not possess them. Such as the individuals in this scenario did.
Tony borrows $1300 at an annual interest rate of 6.0%. He receives the loan on the first day of the current month and will make monthly payments on the first day of each of the following months until the loan is repaid after 24 months (2-year loan). The monthly loan payment is $57.62. How much interest will Tony pay as part of the first loan payment?
Answer:
Tony will pay interest of $6.50 as part of the first loan payment.
Explanation:
Amount of Loan = $1300
Annual Interest = 6%
Monthly interest rate = 6% / 12 = 0.5%
Monthly Loan Payment = $57.62
Monthly installment is compromised of the interest payment on the due balance and the principal payment.
Interest payment in first installment = $1300 x 0.5%
Interest payment in first installment = $6.50
Principal portion of first installment = $57.62 - $6.50
Principal portion of first installment = $51.12
Tony pays $6.50 in interest out of his first monthly payment of $57.62 for the $1300 loan at an annual interest rate of 6.0%.
Explanation:Tony has borrowed $1300 at an annual interest rate of 6.0%, which translates to a monthly interest rate of 0.5% (since 6.0% divided by 12 months equals 0.5%). To calculate the interest paid as part of the first loan payment, we multiply the total loan amount by the monthly interest rate. Therefore, the interest for the first month is $1300 times 0.005, which equals $6.50.
Thus, out of the first loan payment of $57.62, Tony is paying $6.50 towards interest, and the remaining $51.12 will be used to reduce the principal amount of the loan.
Which of the following is true of a sole proprietorship? a. A separate tax return must be filed. b. It is not a business entity. c. There is no personal liability for the owner. d. none of the above
Answer:
b. It is not a business entity
Explanation:
From the answers provided it can be said that the statement that is true about a sole proprietorship is that it is not a business entity. This is because a sole proprietorship is a business that has only a single owner and is not registered as a corporation, partnership or limited liability company. Meaning that there is no separate existence from the owner and the business, causing the business to NOT be a legal entity.
If Modern Company received $3,650 from Connor Young Company on March 12 for the total amount of an account that had been written off on March 1, the entry to reinstate the account under the direct write-off method would include:______. a. a debit to Allowance for Doubtful Accounts of $3,650.
b. is the same as it would be under the allowance method.
c. includes a credit to Bad Debt Expense of $3,650.
d. includes a credit to Cash of $3,650.
Explanation:
Under the direct write-off method , the journal entry is
Bad debt expense A/c Dr XXXXX
To Account receivable A/c XXXXX
(Being the bad debt expense is recorded)
For recording this journal entry, we Debited the bad debt expense and credited the account receivable
This is the answer. Hence, all the given options are incorrect
Jerome uses the formula, P = 2DB, to find his approximate six-month premium when his driver risk factor, D, is 1.02 and the basic six-month premium is $500.What will his monthly premium be?
Answer:
Approximate one-month premium = $170
Explanation:
To find his approximate six-month premium, Jerome uses P = 2DB.
Given,
D = Driver risk factor = 1.02
B = basic six-month premium = $500
We have to find out P = approximate six-month premium.
Putting the values into the formula we can get,
Approximate six-month premium = 2DB
Approximate six-month premium = 2 × 1.02 × $500
Approximate six-month premium = $1,020
Approximate one-month premium = $1,020 ÷ 6
Approximate one-month premium = $170
Answer:
Approximate one-month premium = $85
Explanation:
Bc it has to be!!!
Btw the answer above is wrong
Linda sells 100 bottles of homemade ketchup for $10 each. The cost of the ingredients, the bottles, and the labels was $700. In addition, it took her 20 hours to make the ketchup and to do so she took time off from a job that paid her $20 per hour. Linda's accounting profit is _______ and her economic profit is _________ Instructions:
a. $700; $400
b. $300; $100
c. $300; negative $100
d. $1,000; negative $1,100
Answer:
c. $300; negative $100
Explanation:
Accounting profit is total revenue less total cost or explicit cost.
Accounting profit = Total Revenue - Total cost
Total revenue = price x quantity
100 × $10 = $1,000
Total cost = $700
Accounting profit = $1000 - $700 = $300
Economic profit is accounting profit less implicit cost or opportunity cost.
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
Implicit cost = $20 × 20 = $400
Economic profit = $300 - $400 = $-100
I hope my answer helps you
Final answer:
Linda's accounting profit is $300, calculated by subtracting explicit costs from total revenues. Her economic profit is negative $100, taking into account both explicit costs and the opportunity cost of her time. The correct option is c. $300; negative $100.
Explanation:
First, we need to calculate the accounting profit. Linda sells 100 bottles of homemade ketchup for $10 each, resulting in total revenues of $1,000 (100 bottles * $10 per bottle). The explicit costs, which include the cost of ingredients, bottles, and labels, amount to $700.
Therefore, the accounting profit is calculated by subtracting explicit costs from total revenues: $1,000 - $700 = $300.
Hence, Linda's accounting profit is $300.
To calculate the economic profit, we need to consider both explicit and implicit costs. Implicit costs include the opportunity costs of Linda's time. She could have earned $400 by working at her job ($20 per hour * 20 hours).
The economic profit is calculated by subtracting both the explicit and implicit costs from total revenues: $1,000 - $700 (explicit costs) - $400 (implicit costs) = negative $100.
Therefore, the correct answer is Linda's accounting profit is $300, and her economic profit is negative $100, which corresponds to option c. $300; negative $100.
Which of the following completes the sentence, 'A person who shares their views about a product or service, even though they are not affiliated with the company, is referred to as ______'
Answer:
The correct answer is Citizen advertisers.
Explanation:
An advertiser is the company, organization or individual that pays for an advertising space or time to present an ad or persuasive message to the public. It comes from the Latin verb annunciare which means to announce or make known a story.
The system of presenting the advertisement is known as advertising. Through advertising, advertisers seek to generate greater consumption of their products or services through the "brand", which associates the name of the product or image with certain qualities in the minds of consumers. Advertisers are not always commercial, being able to spend money to advertise other elements than a product or service to the consumer, such as political parties, interest groups, religious organizations and government agencies.