Answer:
B) experimentation.
Explanation:
Experimentation is the process by which a business strategy is tested on a smaller scale before it is adopted on a wider scale. A business process or product can be introduced to a particular test group and based on the results extrapolated to other areas.
In this scenario Cami the marketing manager for a regional furniture maker monitors each marketing campaign on overall sales. She also tries novel promotional offers to first time customers in a bid to test efficacy. This is use of experimentation.
Cami demonstrates the skill of experimentation by regularly testing new promotional offers to assess their impact on sales, showcasing her strategic and critical thinking abilities.
Explanation:Cami exhibits B) experimentation in her role as a marketing manager. This skill is highlighted by her routine implementation of novel promotional offers to engage first-time customers. Experimentation in this context implies a methodical approach to testing different marketing strategies and observing their impact on sales, which is a crucial component of strategic thinking and critical thinking. It requires creativity and divergent thinking to generate a variety of approaches and the application of analysis to determine the effectiveness of these strategies.
Apple has been known to sell its products at higher rates than competitors, such as Microsoft, as it has been successful at convincing consumers that Apple products are special and more luxurious in comparison. By accomplishing this, Apple has gained:
Answer:
Market power.
Explanation:
Market power is also called monopoly power, and is defined as the ability of a firm to raise prices of its products above normal competitive prices of other fish in the market. Theses forms are able to raise prices without losing their customers. Price control is done by manipulating demand and supply of their products.
Apple has gained market power by convincing consumers that its products are special and more luxurious than others on the market. So they can increase price above the normal market level and still maintain their customer base.
An add in the newspaper claims that the price of milk will increase next week . At the same time, a new and improved pasteurization process makes milk production more efficient. Given these two effects, what can we say about the current equilibrium price and quantity of milk? 1. Equilibrium price will increase; the effect on quantity is ambiguous. 2. Equilibrium price will decrease; the effect on quantity is ambiguous. 3. Equilibrium quantity will decrease, equilibrium price will increase. 4. Equilibrium quantity will increase; the effect on price is ambiguous.
Answer:
Equilibrium quantity will increase; the effect on price is ambiguous.
Explanation:
An add in the newspaper claims that the price of milk will increase next week . At the same time, a new and improved pasteurization process makes milk production more efficient. Given these two effects, we can say about the current equilibrium price and quantity of milk that Equilibrium quantity will increase; the effect on price is ambiguous.
The conclusion that equilibrium quantity will increase is dependent on the fact that expectation on future prices is a major factor that leads to changes in demand
People’s expectations about the future can have a significant impact on demand. Or, more specifically, their expectations of future prices can change demand.
If consumers expect prices to increase shortly, current demand often increases, i.e., the demand curve shifts to the right.
The price of milk is expected to increase, 4. leading to a higher equilibrium price. However, due to opposing effects on supply, the effect on the equilibrium quantity is ambiguous.
When analyzing the equilibrium price and quantity in the market for milk, we must consider the effects of both supply and demand changes.
The expected price increase of milk suggests a shift in the supply curve to the left, indicating a decrease in supply. However, the improved pasteurization process increases production efficiency, shifting the supply curve to the right. These two opposing shifts make the effect on the equilibrium quantity ambiguous. Therefore, the correct choice is that the equilibrium price will increase; the effect on quantity is ambiguous.The phenomenon of ________ describes situations in which group pressures for conformity deter the group from critically appraising unusual, minority, or un-popular views. a. groupshift.b. satisficing.c. social loafing. d. group think. e. group polarization.
Answer:
groupthink is correct ✅
The correct option is D. The phenomenon of groupthink describes situations in which group pressures for conformity deter the group from critically appraising unusual, minority, or unpopular views.
Groupthink refers to poor decisions made by a group under duress. A person's efficiency and capacity deteriorate under pressure. Due to the strain of the group, judgmental abilities deteriorate.
What is groupthink in teamwork?Groupthink is a phenomenon that happens when team members collaborate too well and allow their desire to fit in to come in the way of making rational decisions. The consequences of that can sometimes be disastrous.
Groupthink is a type of thinking wherein individuals within small, cohesive groups have a tendency to accept an idea or judgment that they perceive to be shared by the group as a whole, regardless of whether they feel it to be true, accurate, or preferable.
Groupthink is primarily caused by a number of factors. These include the stress associated with making decisions, general group isolation, group leadership, and group cohesion. Due to the interpersonal drive to fit in, a close group with high degrees of cohesion has less verbal conflict.
Thus, The right answer is D. Group pressures for conformity prevent individuals from objectively evaluating uncommon, minority, or unpopular viewpoints, which is a phenomenon known as groupthink.
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If 39,100 dollars is invested at an interest rate of 7 percent per year, find the value of the investment at the end of 5 years for the following compounding methods. (a) Annual: Your answer is (b) Semiannual: Your answer is (c) Monthly: Your answer is (d) Daily: Your answer is (e) Continuously: Your answer is
Answer:
Explanation:
using the compound formula that is = S=p(1+i)^n
S is the future payment
P is the current investment
I is the rate of return
N is the time period
(a) Annual
S=p(1+i)n
S=39100(1+7%)^5
S=39100*1.402551731
S=54839.77267
(b) Semiannual:
Rate semi annualy = 7%*/2 = 3.5%
N total payments = 5*2 = 10
S=p(1+i)n
S=39100(1+3.5%)^10
S=39100*1.410598761
S=55154.41154
(c) Monthly:
Rate monthly = 7%*/12 = 0.5833%
N total payments in months = 5*12 = 60
S=p(1+i)n
S=39100(1+%)^60
S=39100*1.417597072
S=55428.04551
(d) Daily:
Rate monthly = 7%*/365 = 0.0192%
N total payments in months = 5*365 = 1825
S=p(1+i)n
S=39100(1+0.0192%)^1825
S=39100*55505.87288
S=55505.87288
(e) Continuously
S=p/i
S=39100/0.07
S=558571.4286
A vertical analysis calculates percentages to compare the parts of an individual statement to the whole. For example, on an income statement, each item could be shown as a percentage of net sales.1. True2. False
Answer:
False
Explanation:
On an income statement, each item should be shown as a percentage of total sales (not net sales).
A vertical analysis uses percentages to compare different items one a financial statement using a base account. Total sales is used as the base account on an income statement, and total assets are used as the base account on a balance sheet.
Property attributedefinitions is inconsistent with the keyschema of the table and the secondary indexes. True or False
Explanation:True.
Explanation:
This error comes from the DynamoDB table resources in your serverless.ylm. In a DynamoDB table definition, the
should only contain attributes that are used as KeySchema for the table and its indexes.
For example, the following table definition will result in the above error because the attribute is not being used in the table or index’s KeySchema.
One desired outcome of analyzing strategic factors is identifying niches where an organization can use its ________ to take advantage of a particular market opportunity.
Answer: Core competency.
Explanation:
The Core competencies of a business are particular areas of strength a business possess that can only be found in that particular business and that gives the business a competitive advantage. Properly analysing a target market can help a business identify areas their core competencies can help them dominate in that particular target market.
Asa has a contract with Phil to personally provide fortune-telling services at Phil's daughter's birthday party. Phil's daughter decides she does not want to have a fortune teller at her birthday party, so Phil tries to assign the right to Asa's services to his neighbor, Steve. Steve:
a. can enforce the contract with Asa because Phil has assigned the rights to him.
b. can enforce the contract with Asa only if there is written documentation of Phil assigning the rights to Steve.
c. can enforce the contract with Asa only if he pays double the originally agreed price.
d. cannot enforce the contract with Asa, because rights to receive personal services cannot be assigned.
Answer:
a
Explanation:
because they signed it
Due to the prohibition against assigning rights to obtain personal services, he is unable to implement the agreement with Asa. As a result, choice (D) is the right response.
What is a contract?A contract is an enforceable legal arrangement that establishes, details, and regulates the rights and duties of the parties. The transfer of commodities, services, money, or a promise to transfer any of those at a later time is a common component of contracts.
The damaged party may seek legal remedies like damages or rescission in the event of a contract breach. Agreements must be kept, which is the foundation of contract law, a branch of the law of obligations that deals with contracts.
If a promise is broken, the law offers the damaged party remedies, frequently in the form of monetary compensation or, in rare instances, in the form of explicit fulfillment of the broken promise.
Hence, option (D) is correct.
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Producing 200 units of good Y and 100 units of good X in the same factory costs the firm $50,000. In contrast, producing 200 units of good Y in one factory and 100 units of good X in another factory costs the firm $75,000. So if the firm produces the two goods together, it achieves what ?
Answer:
economies of scope.
Explanation:
Economies of scope happen when the total cost of producing one unit of product decreases as the total output increases. This happens because even if the variable costs per unit remain the same, the fixed cost per unit decreases as the number of units produced increases.
Lenny works for Mechanical Engineers, P.A. While working on a Mechanical Engineers project, Lenny is injured. Under state workers’ compensation laws, Lenny will be compensated only if his injury was?a. ?accidental.b. ?intentional.c. ?material.d. ?incidental.
Answer: accidental.
Explanation: under the state workers compensation laws, Lenny would be compensated only if his injury was accidental. The law aims to protects employers from dooming civil claims and enables both casual and full-time employees to claim compensation directly from the Fund for work-related injuries and disability.
Furthermore, state compensation laws are put in place in every state to protect employees against loss of income and for medical payments because of work-related injuries, accidents, illness, or disease.
After the buyer and the seller have signed a sales contract, the seller changes his mind and defaults. The buyer sues the seller to force him to go through with the contract. This is known as a suit for ...
-specific performance
Answer:
The correct answer is Specific Performance.
Explanation:
Specific performance is a court order that compels a party to perform a specific act, usually what is stated in a contract. It is an alternative to damages and is classified as a fair remedy generally in the form of injunctive relief regarding confidential information or real property. Although a specific execution can take the form of any kind of forced action, it is generally used to complete a previously established transaction, making it the most effective remedy for protecting the interests of the innocent party to a contract. It is generally the opposite of an injunction, but there are mandatory injunctions that have a similar effect to specific compliance.
The hotel chain Ritz-Carlton uses the phrase "Ladies and gentlemen taking care of ladies and gentlemen" to demonstrate the company's cultural commitment to take care of both employees and customers. Which of the following is the Ritz-Carlton using to express its corporate culture?a. The company is expressing its key corporate value with a slogan.b. The company is using a ceremonial demonstration of its values.c. The company is conveying the value of its employees with a story.d. The company is illustrating its heroes with strong company values.
Answer:
The company is expressing its key corporate value with a slogan.
Explanation:
The expression "Ladies and gentlemen taking care of ladies and gentlemen" is a slogan used by Ritz-Carlton to convey it's corporate cultural commitment to take care of both employees and customers.
The slogan is an effective way to communicate that its staff are ladies and gentlemen and are highly respected by the company. This will go a long way to boost staff moral and give them motivation to perform better in a company that values them.
Vaughn Manufacturing sells merchandise on account for $2500 to Morton Company with credit terms of 2/14, n/30. Morton Company returns $900 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Vaughn Manufacturing make upon receipt of the check?
Answer:
Dr Cash $1,568
Dr Sales discount $32
Cr Accounts receivable $1,600
Explanation:
The initial posting for the transaction would a debit of $2,500 to accounts receivable and a credit of the same amount to sales revenue account.
However, upon the return of damaged goods, an adjustment to the earlier posting would a credit of $900 to accounts receivable to show that the indebtedness has reduced by $900 and a corresponding debit to sale returns account.
However, the balance of $1600($2,500-$900) in the accounts receivable in broken into cash and discount upon receipt of check payment.
Dr cash (98%*$1600) $1,568
Dr Sales discount $32
Consumer surplus is the a. amount of a good consumers get without paying anything. b. amount a consumer pays minus the amount the consumer is willing to pay. c. amount a consumer is willing to pay minus the amount the consumer actually pays. d. value of a good to a consumer.
Answer:
C) amount a consumer is willing to pay minus the amount the consumer actually pays.
Explanation:
Consumer surplus is a situation in which a consumer is willing to pay more for a product but he/she actually pays less that is he pays a lesser price compared to what he is willing to pay.
For example, a consumer is willing to pay $5 for a magazine but when he got to the mall, the price of the magazine is $4. The consumer surplus will be price he is willing to pay minus the price he bought it.
Consumer surplus= $5-$4
=$1
Consumer surplus is the difference between between the willing price of a consumer and the actual price paid(lesser than the willing price). It is a benefit to the consumer because they pay less than what is expected at the same value of satisfaction.
Consumer surplus is represented on a supply and demand curve by the area between the equilibrium price and the demand curve.
Quality services is an organization that operates several companies that market food products. True or False
Answer:
True
Explanation:
Quality Services is an organization that operates several companies that market food products, restaurant equipment, and paper and plastic products.
Answer:
True
Explanation:
Quality services is a company that is involved in the operation of several companies accross the North East and Yorkshire for over a decade. They run a fleet of over 25 vehicles that brings fresh produce to national chains, restaurants, retailers, government, and educational institutions.
Primarily supply involves fresh fruits, vegetables, cheese, diary, dried goods, and preserves. Prepared fresh produce promotes customer convinience as they will save time and money, instead of waiting for preparation of produce.
It also has a section that counsels restaurant owners, and assists with launch of new restaurants.
Jill Scott is an accountant with Cameron and Associates, a law firm in downtown Seattle. The firm maintains a checking account with Southern Rock Bank for its operating expenses. On the 10th of every month, Jill gets an inventory report from the office manager listing the office supplies that are needed. Jill places the appropriate orders with Office Depot and writes them a check against the office's checking account. Who is the drawee in this banking transaction?A) Jill Scott.B) Office Depot.C) Cameron and Associates.D) Southern Rock Bank.
Answer:
There are usually 3 parties to a check transaction
The Drawer, the Drawee and the Payee.
The Drawee in this instance is Southern Rock Bank
Explanation:
The Bank warehousing the funds/Money is the one a check is drawn against, hence the term 'drawee"
The Account owner or representative who writes a check giving authority to the Bank to release of the Funds in its possession is the "Drawer
And the Beneficiary of the drawn up check becomes the Payee.
Curious to see its worth, Irene takes a beautiful oil painting that she inherited from her grandmother to Eleanor, a respected art appraiser. Eleanor tells Irene the artwork is a worthless piece of junk, so Irene sells the painting to Aziz at a yard sale for $50. The following week, Irene finds out that Aziz sold the painting for $12 million dollars at auction, after an appraiser at the auction house determined it is the work of a famous painter named Thomas Gainsborough. Furious, Irene sues Eleanor. What result
Answer: First, we must add the options:
a. Eleanor will not be liable, because most people would not know that the painting was by Thomas Gainsborough.
b. Eleanor will not be liable as long as she can prove that Aziz did not know the painting was valuable when he bought it.
c. Eleanor will be liable if Irene can prove that all appraisers would recognize the painting as being valuable.
d. Eleanor will be liable if Irene can prove that the best appraisers would know that the painting was by Thomas Gainsborough
The correct option is C.
Explanation: This result will depend on whether Irene can prove beyond reasonable doubt, that all art appraisers, on seeing the painting would be able to recognize it as priceless or valuable.
If Irene can prove this, then Eleanor will be liable.
In which case did the U.S. Supreme Court determine that the federal government did not overstep its bounds under the commerce clause when it enacted the Controlled Substances Act of 1970?
a. Shepard v. U.S.
b. Gonzalez v. Raich
c. Obergefell v. Ohio
The U.S. Supreme Court determine that the federal government did not overstep its bounds under the commerce clause when it enacted the Controlled Substances Act of 1970- Gonzalez v. Raich Case
Explanation:
Gonzales v. Raich was a case in which Raich was permitted to grow and use Marijuana for medical purposes but the federal agents seized the marijuana plantation and destroyed it.
Raich then seeked action under the federal Comprehensive Drug Abuse Prevention and Control Act (CFA). In the decision taken by the U.S Supreme court under the commerce clause of the US Constitution,that the congress has the power to criminalize the use and production of home-grown marijuana even if state law allows its use for medicinal purposes.
Oliver slips and falls on Port Harbor's Tour Boat and is injured. Oliver files a suit against Port Harbor for $500,000. If Oliver is 20 percent at fault and Port Harbor is 80 percent, under the "50 percent rule" comparative negligence principles, Oliver would recover
Answer:
$400,000
Explanation:
Given:
Oliver suit amount against Harbor = $500,000
Oliver's fault = 20%
Port Harbor's fault = 80%
Note: According to the 50% rule Principles, Oliver will recover only Harbor's Fault amount from the total suit amount.
Oliver's Recover amount = Oliver suit amount against Harbor x Port Harbor's fault Percent
= $500,000 x 80%
= $400,000
The nursing CEO has discussed implementation of EBP at hospital wide meetings. She is leading a team to incorporate EBP terminology into the vision and mission of the institution. She is also advising the multidisciplinary leadership team to incorporate evidence-based practice expectations into the performance appraisals of all staff members. The chief executive nursing officer is modeling:
A. continuous quality improvement methodology and techniques
B. marketing tactics that will help familiarize the staff with new terminology
C. professional duties for new protocol acceptance throughout the institution
D. strategies for incorporation of evidence-based practice into the infrastructure of the organization
D. strategies for incorporation of evidence-based practice into the infrastructure of the organization
The chief executive nursing officer is modeling: D. strategies for incorporation of evidence-based practice into the infrastructure of the organization.
Explanation:
Evidence-based practice in nursing field helps the clinicians to achieve better problem-solving approach. The nursing staff gets guidance from clinician's expertise, well-designed studies, patient values and preferences.
EBP can help in providing the most effective care for patients. The patients are given best care based on the available evidence. This helps in improving the outcome of patients.
Nursing staffs following the evidence-based practice gets improved patient outcomes.
In the above scenario, the nursing staffs are advised to follow the evidence-based practice to increase the performance of all staffs.
The correct choice is D. The chief executive nursing officer is modeling strategies for incorporating evidence-based practice into the organization by embedding EBP terminology in the institution's vision and mission.
The correct choice is D. This involves embedding EBP terminology into the vision and mission of the institution, and aligning performance appraisals with EBP expectations.Evidence-based practice (EBP) is a lifelong problem-solving approach that integrates the best evidence from well-designed research studies and evidence-based theories; clinical expertise and evidence from assessment of the health care consumer's history and condition, as well as health care resources; and patient, family, group, community, and population preferences and values. Incorporating EBP into the organizational infrastructure requires leaders to promote and model the use of evidence in decision-making, encourage continuous learning and transparency, and ensure that all team members have the necessary information, resources, and support to provide high-quality, safe patient care.Delux Technologies makes and sells only one product, a high-quality processor for mainframe computers. Delux was recently approached by Imagination Station, a large computer manufacturer, about purchasing their company. Imagination Station is engaging in a. related diversification, b. focused offerentiation c. related diversification d. vertical integratione. differentiation
Answer:
d. vertical integration
Explanation:
The strategy used by "Imagination Station" above is an example of "vertical integration." This is a type of strategy that allows a company to have control over its production steps.
Since Imagination Station manufactures computers, it wants to control its own supply of processor by trying to purchase Deluxe Technology. Having full control of supplying its own processors would mean an increase in the company's revenue because they have the ultimate power to reduce their cost.
So, this explains the answer.
Verbal orders by telephone or in person are discouraged. In cases where verbal orders are necessary, which of the following is the most effective method by which the risk of miscommunication can be lessened?
a. The person receiving the order should read it back to ensure that the order is correct.
b. The order should be signed after the patient is discharged from the facility.
c. The order should be signed by another provider.
d. The person receiving the order should authenticate the order after it is entered into the record.
Answer:
The person receiving the order should read it back to ensure that the order is correct.
Explanation:
In business communication the best way to communicate orders is in written form since this allows for clear conveyance of the message in the order. Using verbal means to give orders over the phone is prone to misinterpretation and there is less accountability when the subordinate claims he did not understand the order.
To curtail this it is advisable for the recipient of the order to repeat the order. This shows it has been clearly understood.
If you ask yourself whether you care more about what people think of you as part of their group or whether you care more about showing people your cool vampire costume, which of Peter Drucker's questions are you answering?
If you ask yourself whether you care more about what people think of you as part of their group or whether you care more about showing people your cool vampire costume, the Peter Drucker's questions are you answering is (3) What does your customer value?
Explanation:
The five questions given by Peter Drucker are:
1. What is your mission?
2. Who is your customer?
3. What does your customer value?
4. What results do you seek?
5. What is your plan?
As stated in the question
"If you ask yourself whether you care more about what people think of you as part of their group or whether you care more about showing people your cool vampire costume"
The question that we are answering through the above statement is question 3.(i.e. What does your customer value?)
The dilemma of choosing between asserting individuality or adhering to group norms corresponds to Peter Drucker's question, 'What should my contribution be?' Here, 'contribution' refers to the impact of your actions or decisions within a social or professional context.
Explanation:The question asked is fundamentally aligned with one of famous management consultant Peter Drucker's essential questions: 'What does my contribution have to be?' This question requires an individual to introspect and consider their role within their social or professional environment, and how their actions or decisions impact their image within these contexts.
So, if you find yourself torn between asserting your individuality with your cool vampire costume or catering to the opinions of your group, you are essentially asking yourself, 'What should my contribution be?' - do you contribute to the cohesion of the group by conforming, or do you contribute by asserting your individuality and adding diversity to the group?
Bear in mind, this is not purely about choosing selfish interests over the group's; it's about understanding the nature of your contribution and how it aligns with your values and the group's expectations.
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The rental income generated by a lease can depend significantly on the proportion of property-level operating expenses paid by the tenant. In which of the following types of leases is the tenant responsible for all operating expenses?1. Gross lease2. Net lease 3. Net-Net lease4. Triple net lease
Answer:
4) Triple net lease
Explanation:
In a triple net lease (NNN lease), the tenant is responsible for all the expenses related to the leased property including property taxes, maintenance fees, reparations and property insurance. NNN leases are usually commercial leases only.
The landlord's disadvantage with a NNN lease is that the monthly lease payment tends to be lower since the tenant assumes all the costs related to the leased property. On the other hand, a NNN lease generally provides a stable cash flow, so its associated risk is lower.
A company has a "bring your own device" (BYOD) policy for computers; anyone can just go out and buy whatever computer they want. Which stage of the hardware lifecycle does this scenario belong to?
Based on the company's bring your own device (BOYD) policy for computers, this scenario belong to procurement stage of the hardware lifecycle.
What is a hardware lifecycle?A hardware lifecycle can be defined as a holistic methodology that defines the key steps, phases, or stages for the management of an information technology (IT) hardware such as a computer, router, switch, etc.
Basically, the phases of hardware lifecycle management include the following:
Procurement or leaseDeployment and installationMaintenanceUpgradeBased on the company's bring your own device (BOYD) policy for computers, this scenario belong to procurement stage of the hardware lifecycle becuase all end users can go out and procure (purchase) whatever computer they want.
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Suppose a perfectly competitive firm is producing 37 units output, and the marginal cost of the 37th unit is $3. If the firm can sell each unit of output for $5 and the firm's revenue is sufficient to cover its variable cost, the firm should:__________.
A. lower its price.
B. decrease production.
C. increase production.
D. raise its price.
Answer:
correct option C. increase production.
Explanation:
given data
producing = 37 units
marginal cost MC = $3
sell MR = $5
solution
the profit is maximum at MR = MC ..............1
and here MR = $5 and MC = $3
then production should be increased up to the MC = MR = $5
so correct option is C. increase production
Use the concepts of gross investment and net investment to distinguish between an economy that has a rising stock of capital and one that has a falling stock of capital. ""In 1933 net private domestic investment was minus $6 billion. This means that in that particular year the economy produced no capital goods at all.""
Answer:
The statement is false
Explanation:
The economy in 1933 had negative investment, but that doesn't mean that it didn't produce any capital goods during the year.
A negative net investment means that the money invested in new capital goods was less than the depreciation of existing capital goods. Theoretically it can also result form no new capital gains, but in real life that doesn't happen.
A web designer quits a project where she was paid $50,000 on completion of the project. She starts a new company with sales revenues of $550,000 last year, while spending $250,000 on compensation for employees (excluding herself), $70,000 on capital, and $30,000 on materials. What was the firm’s economic profit?
Answer:
$150,000
Explanation:
Amount paid after project completion was =$50,000
The sales revenue for the new company = $550,000
Total deductions =$(250,000+70,000+30,000)=$350,000
Economic profit is the difference between the earned revenue from sell of outputs and cost of all inputs used and any opportunity costs.
In this case, opportunity cost will be the amount received by the web designer after the quit of the project.
Economic profit = $550,000 - $350,000-$50,000 = $150,000
Final answer:
The firm's economic profit is calculated by subtracting both explicit and implicit costs from the total sales revenue. With sales revenues of $550,000 and explicit costs of $350,000, the accounting profit comes to $200,000. After considering the implicit cost of $50,000 for quitting the previous job, the economic profit totals $150,000.
Explanation:
Economic Profit Calculation
To calculate the economic profit for the web designer's new company, we need to consider both explicit and implicit costs. The explicit costs here include compensation for employees ($250,000), capital expenditures ($70,000), and materials ($30,000). The total explicit costs thus amount to $350,000 ($250,000 + $70,000 + $30,000). With a sales revenue of $550,000, this leaves us with an accounting profit of $200,000 ($550,000 - $350,000).
However, to find the economic profit, we must also include the opportunity cost of the web designer quitting a project that would have paid $50,000 upon completion. Therefore, the economic profit is calculated by subtracting this implicit cost from the accounting profit, leading to an economic profit of $150,000 ($200,000 - $50,000).
It is possible that a(n) ________ vertical marketing system can be more formally structured through strategic alliances and partnership agreements among channel members that agree to work in mutual cooperation. An example of this is the relationship between Walmart and Procter & Gamble. Multiple Choice distributive private corporate contractual administered
Answer:
administered
Explanation:
Based on the information provided within the question it can be said that the term that is being mentioned in this scenario is an administered vertical marketing system. This is a co-ordinated system of distribution channel organization that is characterized the movement of products from point of origin to consumer is controlled by a single individual as opposed to contractual ties. Which is the main marketing system that may benefit from agreements among channel members.
This is section 3.8 problem 30: a motel owner observes that when a room is priced at $60 per day, all 80 rooms of the motel are occupied. for every $3 rise in the charge per room per day, one more room is vacant. each occupied room costs an additional $16 per day to maintain. (a) the demand function, expressed by p , the price in dollars charged for each room per day, as a function of x ,
The student is asked to provide a demand function p(x) = 60 + 3x showing the price of motel rooms as a function of the number of unoccupied rooms, x. The function is derived from the fact that every $3 rise in the price results in one more vacant room, starting from a base price of $60 with all rooms occupied.
The student's question involves creating a demand function for a motel owner, where the price of rooms and the number of vacant rooms are related. The demand function p(x) would be represented as a mathematical expression that shows how the price p, charged for each room per day, varies with the number of rooms x left unoccupied, from the initial scenario where all rooms are occupied at a price of $60.
We know that for every $3 increase, one more room remains unoccupied. So if x rooms are unoccupied, the price would increase by 3x dollars, leading to a demand function of p(x) = 60 + 3x. This indicates the price for each room given x number of vacant rooms.
Additionally, it's noted that each occupied room costs $16 more per day to maintain. This suggests that for x occupied rooms, the total maintenance cost would increase by 16x dollars, affecting overall profitability.
The demand function is[tex]\( p(x) = 60 - \frac{3}{80}x \).[/tex]
To determine the demand function, we start by establishing the relationship between the price per room, p and the number of rooms occupied, x. We are given that at a price of $60 per day, all 80 rooms are occupied. This gives us our initial point, which is (60, 80).
We are also given that for every $3 increase in the price per room per day, one more room becomes vacant. This tells us that the slope of the demand curve is [tex]\( -\frac{1}{80} \)[/tex]rooms per dollar, because for each $3 increase in price, the number of occupied rooms decreases by 1.
However, since we want the slope in terms of the price change per room, we multiply this slope by 80 to get the slope of the demand curve in terms of price as a function of rooms occupied. Thus, the slope is [tex]\( -80 \times \frac{1}{80} = -1 \).[/tex]
To find the demand function, we use the point-slope form of a linear equation:
[tex]\[ p - p_1 = m(x - x_1) \][/tex]
where [tex]\( (p_1, x_1) \)[/tex] is our initial point (60, 80) and m is the slope, which is [tex]\( -3 \)[/tex] (since for every room vacant, the price increases by $3).
Substituting the values, we get:
[tex]\[ p - 60 = -3(x - 80) \] \[ p = 60 - 3x + 240 \] \[ p = 300 - 3x \][/tex]
However, we need to express p in terms of x as a function, so we divide the entire equation by 80 to get the price per room as a function of the number of rooms occupied:
[tex]\[ \frac{p}{80} = \frac{300}{80} - \frac{3}{80}x \] \[ p(x) = 3.75 - \frac{3}{80}x \][/tex]
But since the price per room at full occupancy is $60, we adjust the constant term to reflect this:
[tex]\[ p(x) = 60 - \frac{3}{80}x \][/tex]
This is the demand function, where p(x) is the price in dollars charged for each room per day as a function of (x), the number of rooms occupied."