Answer:
The break-even point in sales dollars is: C. $32,000
Explanation:
During the current year 11,000 hams were sold resulting in $220,000 of sales revenue, $55,000 of variable costs, and $24,000 of fixed cost.
Contribution margin ratio = (Sales - Total Variable cost)/Sales = ($220,000 - $55,000)/$220,000 = 0.75
The break-even point sales dollars is calculated by using following formula:
Break-even point in sales dollars = Fixed cost/Contribution margin ratio = $24,000/0.75 = $32,000
Repurchasing shares near year-end will increase a firm's return on equity (ROE). Select one: True False . g
Answer:
True
Explanation:
Return on equity calculated by dividing net income with total outstanding shares. When you repurchase shares total outstanding shares are reduced by the quantity purchased. Assuming the net income is constant the Return on equity will be higher as now net income is being divided by the lesser number of shares. So this is a true statement.
All of the following amounts are excluded from gross income, except: a. Veterans' benefits b. Child support payments c. Gifts d. Scholarship grants for tuition e. Tips and gratuities
Answer:
e. Tips and gratuities
Explanation:
You must include in your gross income all wages and benefits, salaries and tips received in respect of performance services as an employee. Once you get tips, the tip money you get will be payed by you for Medicare and social security. For the IRS, tips is just like wages to become a taxable income.
Tips and gratuities are not excluded from gross income and are considered taxable income, unlike the other mentioned amounts such as veterans' benefits, child support payments, gifts, and scholarship grants for tuition which are typically not taxed.
The question asks which of the following amounts are excluded from gross income, except:
Veterans' benefitsChild support paymentsGiftsScholarship grants for tuitionTips and gratuitiesAll of the mentioned amounts are generally excluded from gross income except for tips and gratuities, which are considered taxable income and must be reported. Tips and gratuities are commonly received by employees in certain industries like hospitality and service sectors and are subject to income tax; therefore, they are not excluded from gross income.
Dreamland Company produces pillows. Each pillow has a variable cost of $8 and fixed costs are $78,000 per month. Each pillow sells for $17. If the company produces and sells 65,000 pillows in February, at this level of activity, total costs per unit are:
Answer:
$9.20
Explanation:
Total cost per unit = Fixed cost per unit + average variable cost
Average fixed cost = $78,000 / 65,000 = $1.2
Total cost per unit = $1.2 + $8 = $9.20
I hope my answer helps you
The total costs per unit for selling 65,000 pillows in February would approximately be $9.20.
The student asked about total costs per unit for Dreamland Company in February if they produce and sell 65,000 pillows. To calculate the total costs per unit, we must first find the total costs by adding fixed costs to the variable costs (which are $8 per unit). The company sold 65,000 pillows, so the total variable costs are $8 multiplied by 65,000. Fixed costs are given as $78,000.
Total variable costs = $8 imes 65,000 = $520,000
Total costs = Fixed costs + Total variable costs
Total costs = $78,000 + $520,000 = $598,000
To find the total costs per unit, we divide the total costs by the number of units sold:
Total costs per unit = Total costs \/ Number of units sold
Total costs per unit = $598,000 \/ 65,000
After performing the calculation, we find that the total costs per unit are approximately $9.20.
Sarah's house caught on fire. Through the prompt assistance of her neighbor Odessa, the fire was quickly extinguished. In gratitude, Sarah promised to pay Odessa $1,000. Can Odessa enforce this promise?
Answer:
To enforce this promise we need to analyse whether there has been any agreement or contract between Sarah and Odessa and whether the same can be enforced.
Explanation:
In Sarah's case, her offer to gratuitously pay the neighbor for assisting in the house fire is not an enforceable contract. When the neighbor rushed to help in the fire, the offer to pay $1,000 had not yet been extended. When Sarah did extend the offer to pay $1,000, there was no consideration exchanged between both parties. The consideration, putting out the fire, had already occurred without the offer or acceptance of a contract.
Consider an alternate scenario. Sarah's house was on fire, and she could not wait for the fire department. She ran to her neighbor's house, begged for help, and offered $1,000 in exchange for neighbor's assistance. After hearing Sarah's plea, the neighbor agrees to assist in extinguishing the fire. This constitutes a contract; an offer, consideration, and acceptance.
Final answer:
Sarah's promise to pay Odessa $1,000 for extinguishing a fire is not enforceable since it is a gratuitous promise without consideration. Odessa did not provide anything of value after the promise was made, and the information given does not suggest detrimental reliance, which could have made promissory estoppel applicable.
Explanation:
Under the principle of contract law, a promise is generally not enforceable without consideration, which means that each party must contribute something of value or undertake an obligation they are not otherwise required to. In the scenario presented with Sarah and Odessa, Sarah's promise to pay $1,000 to her neighbor Odessa for extinguishing a fire is a classic example of what is known as a gratuitous promise. Since Odessa had already extinguished the fire, she did not provide any consideration after the fact, making the promise akin to a gift rather than an enforceable contract.
A different outcome might be possible if Odessa extinguished the fire in reliance on the promise and this reliance was to Odessa's detriment, potentially giving rise to an argument based on promissory estoppel. However, based on the information given, which does not suggest such detrimental reliance, the promise is not enforceable and is purely gratuitous, meaning Odessa cannot legally enforce Sarah's promise to pay the $1,000.
A pro football quarterback has to move to a new house. What would be a good economic reason for him to do his own moving rather than hiring someone else? Click or tap a choice to answer the question. a. Physically he is in better shape than ever. b. He is retiring, so he no longer has the trade- off of missing practice or a game. c. The bids from moving companies are a bit higher than he expected. d. He makes 20% less money after the latest contract renewal
Answer:
b. He is retiring, so he no longer has a trade-off of missing practice or a game
Explanation:
First thing to establish is that the question is about seeing how an opportunity cost will have the decision of the pro-footballer on whether to move by himself or hire someone else.
As such, the opportunity cost (benefit foregone from an alternative) of moving on his own would usually mean to miss a practice or a game. In other words, the reason why he would have hired someone else in the first instance is so that he will not miss out of matches or practices.
If this assumption is followed, therefore, the best alternative is b. He is retiring, so he no longer has a trade-off of missing practice or a game.
Meaning, moving on his own will have no effect on his training or games since he is retiring.
Jasper Carts manufactures custom carts for a variety of uses. The following data have been recorded for Job 651, which was recently completed. Direct materials used cost $ 7 comma 200. There were 179 direct labor hours worked on this job at a direct labor wage rate of $ 23 per hour. There were 87 machine hours used on this job. The predetermined overhead rate is $ 37 per machine hour used. What is the total manufacturing cost of Job 651?
Answer:
$14,536
Explanation:
The total manufacturing cost of job 651 is determined by the sum of the direct materials, labor and machine costs:
Direct materials cost = $7,200
Direct labor cost = 179 hours x $23/hour
Machine cost = 87 hours x $37/hour
[tex]C=\$7,200 +(179*\$23)+(87*\$37)\\C=\$14,536[/tex]
The total manufacturing cost of Job 651 is $14,536.
The use of a differentiation strategy would be expected to be LEAST effective in which of the following markets? a. Commodity goods b. Sporting goods c. Popular music d. Restaurants
Answer:
The correct answer is letter "A": Commodity goods.
Explanation:
A differentiation strategy is an approach adopted by companies to make the goods or services they offered unique compared to their competitors. Most firms tend to use price as the main key to the difference between their products and the competitors'.
Thus, the differentiation strategy is less likely to be applied in commodity goods because they are inherently unique such as oil, natural gas, precious metals or foreign currencies.
The use of a differentiation strategy would be expected to be least effective in commodity goods.
Differentiation strategy means an adopted approach which make offered goods or services more unique compared to their competitors.
Most firms use the Differentiation strategy to the differentiate between their products and the competitors.Differentiation strategy are less likely to be applied in commodity goods because they are inherently unique such as oil, natural gas, precious metals or foreign currencies.Hence, the Option A is correct since the use of a differentiation strategy would be expected to be least effective in commodity goods.
Read more about differentiation strategy
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Supply is (A) the set of all combinations of price and quantity demanded.(B) the amount of some good or service a producer is willing to supply at a single price.(C) the amount of some good or service a producer is willing to supply at each price none of the above.
Final answer:
Supply is (B) the amount of some good or service a producer is willing to supply at each price,
Explanation:
Supply concept is essential to understanding market dynamics and is closely related to demand. The supply curve shows the relationship between the price of a good or service and the amount a producer is willing to supply. When the price of a product rises, producers are generally willing to supply more, indicating a positive relationship between price and quantity supplied. The equilibrium price is established when the quantity demanded by consumers equals the quantity supplied by producers.
If the quantity supplied surpasses the quantity demanded, it results in excess supply, while the opposite scenario results in excess demand. A supply schedule is a table that illustrates the quantity of goods a producer is willing to supply at various prices, keeping other factors constant. If the price of the good changes, there is a movement along the supply curve, referred to as a change in the quantity supplied.
Chris Suit is administrator for Lowell Hospital. She is trying to determine whether to build a large wing on the existing hospital, a small wing, or no wing at all. If the population of Lowell continues to grow, a large wing could return $150,000 to the hospital each year. If a small wing were built, it would return $100,000 to the hospital each year if the population continues to grow. If the population of Lowell remains the same, the hospital would encounter a loss of $85,000 with a large wing and a loss of $45,000 with a small wing. Unfortunately, Suit does not have any information about the future population of Lowell.
a. Assuming that each state of nature has the same likelihood, determine the best alternative? What is the EMV?
b. If the likelihood of growth is .4 and that of remaining the same is .6 and the decision criterion is expected monetary value, which decision should Suit make? What is the EMV?
c. Based on the answer in letter b, what is the EVPI?
Answer:
A: The best alternative = Build Large Wing with $32500 EMV
B: The best alternative = Build small wing with $13000 EMV
C: EVPI = $47000
Note: Solutions are provided in the pictures.
Explanation:
What is EMV? In simple words, EMV calculations let you know that how much money you will got from different decisions you have on table.Formula to calculate EMV = (Payoff of 1st state of nature) * (Probability of 1st state of nature) + (Payoff of 2nd state of nature) * (Probability of 2nd state of nature)
EVPI is calculated when you have perfect information about any outcome, it also provides the value of the perfect information i-e how much you should pay to findout the perfect information.Formula to calculate EVPI = EVwPI - Max EMV
Formula to calculate EVwPi = (Best outcome or consequence for 1st state of nature) * (Probability of 1st state of nature) + (Best outcome for 2nd state of nature) * (Probability of 2nd state of nature)A) Solution is in the attached image with (Table 1) mentioned on it.
B) Solution is in the attached image with (Table 2) mentioned on it.
C) Solution is in the attached image with (Table 3) mentioned on it.
The best alternative for Lowell Hospital is to build a large wing, as it has the highest expected monetary value (EMV). Even when considering the likelihood of growth and remaining the same, the decision remains to build a large wing. The expected value of perfect information (EVPI) is $24,000.
Explanation:The decision on whether to build a large wing, small wing, or no wing at all at Lowell Hospital depends on the future population growth of Lowell. Assuming each state of nature has the same likelihood, we can calculate the expected monetary value (EMV) for each decision. If the population continues to grow, the EMV for a large wing is $150,000 and for a small wing is $100,000. If the population remains the same, the EMV for a large wing is a loss of $85,000 and for a small wing is a loss of $45,000. Based on these calculations, the best alternative is to build a large wing, as it has the highest EMV.
If we consider the likelihood of growth being 0.4 and remaining the same being 0.6, and the decision criterion is expected monetary value, the decision would still be to build a large wing. The EMV for a large wing in this case is calculated as (0.4 * $150,000) + (0.6 * -$85,000) = $46,000. The EMV for a small wing is (0.4 * $100,000) + (0.6 * -$45,000) = $22,000. Therefore, the decision should still be to build a large wing.
The expected value of perfect information (EVPI) is the maximum EMV minus the EMV without perfect information. In this case, the maximum EMV is $46,000 (for building a large wing assuming the growth likelihood is 0.4). Without perfect information, the EMV for a large wing is $46,000 and the EMV for a small wing is $22,000. Therefore, the EVPI is $46,000 - $22,000 = $24,000.
The Assembly Department started the month with 24,100 units in its beginning work in process inventory. An additional 309,100 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 29,100 units in the ending work in process inventory of the Assembly Department. How many units were transferred to the next processing department during the month?
Answer:
304,100
Explanation:
The amount in the ending work in process inventory of the Assembly Department is a is the result of the opening or beginning work in progress of the department added to the units transferred from a prior department less the units transferred to the next processing department.
As such, let the units transferred to the next processing department be r,given that the Assembly Department started the month with 24,100 units in its beginning work in process inventory, an additional 309,100 units were transferred in from the prior department during the month to begin processing in the Assembly Department and there were 29,100 units in the ending work in process inventory of the Assembly Department
24,100 + 309,100 - r = 29,100
r = 24,100 + 309,100 - 29,100
r = 304,100 units
The number of units transferred to the next processing department during the month is 304,100.
The number of units transferred to the next processing department during the month is 304,100 units, calculated by subtracting the ending work in process inventory from the total units accounted for in the Assembly Department.
Explanation:The student's question involves calculating the number of units transferred to the next processing department during the month in the context of an Assembly Department's production process. To find this number, you'll need to account for the units that were started and completed during the month. The calculation is as follows: Begin with the total number of units that entered the assembly process (both the beginning inventory and those transferred in), then subtract the number of units in ending inventory to determine the units that were completed and transferred to the next department.
To perform the calculation: The beginning work in process inventory was 24,100 units, and an additional 309,100 units were transferred in. Thus, the total units to account for during the month were 24,100 + 309,100 = 333,200 units. The ending work in process inventory was 29,100 units. Therefore, the number of units transferred to the next department is the total units accounted for minus the ending inventory, which equals 333,200 - 29,100 = 304,100 units.
Malaya Ramirez is organizing marketing research in Central American countries for a large American corporation that is interested in expanding its market. The survey Malaya is using was written in English and then translated into Spanish for use by Spanish-speaking respondents. Which of the following is it most important for Malaya do before administering this questionnaire to a sample of the market?
A) make sure that the survey includes both open-ended and closed-ended questions
B) decide whether to focus on primary or secondary data
C) determine which type of research instrument to use
D) have the questionnaire translated back into English to check for accuracy
E) determine whether to focus on descriptive or causal objectives
Answer:
The correct answer is letter "D": have the questionnaire translated back into English to check for accuracy.
Explanation:
Translating is the activity by which the message given in a language is provided written in a different language. However, all languages are not the same and during the translation, meaning can be lost. Besides, specific terminology could make the translation difficult for the translator.
Thus, for accuracy purposes Malaya Ramirez should have the English-Spanish translation checked, making it be translated back into English.
The questionnaire was translated back into English to check for accuracy. Thus option D is correct.
What is the marketing research ?Marketing research is the systematic gathering, recording, and analysis of the information that is qualitative and quantitative related to the marketing of products and services. It is the marketing of the business activities.
The research includes the B2B and B2C. The main objective is to provide relevant and accurate reliable information. The research relies on surveys and questionnaires as tools of gathering information.
Find out more information about the Malaya Ramirez.
brainly.com/question/2889076.
Ocean House must use various metrics to measure the benefits of its human capital in order to determine the effectiveness of its HR practices If Ocean House wants to determine the amount of profit derived from its investments in labor, which of the following measures should it use?
a. Human capital return on inrestment
b. Human economic value added
c. Revenue per employee
d. HR audit Replay
Answer:
a. Human capital return on investment
Explanation:
Human capital return on investment -
It helps to determine the profit return of the company or organisation on the per unit expenditure on the employees , is referred to as the Human capital return on investment .
It is basically the interconnection between the profit of the company and the cost on the workforce .
hence , from the given scenario of the question,
The correct option is a. Human capital return on investment .
According to the law of demandLOADING..., there is an inverse relationship between price and quantity demanded. That is, the demand curve for goods and services slopes downward. Why? A. When price increases, demand decreases. B. When the price of a good increases, consumers' purchasing power decreases, and they cannot buy as much of the good as they did prior to the price change. C. When the price of a good increases, consumers purchase complementary goods that are now relatively less expensive. D. When the price of a good increases, consumers' purchasing power increases, and they can buy more of the good than they did prior to the price change.
Answer:
Option (B) is correct.
Explanation:
We know that there is an inverse relationship between the price of the good and the quantity demanded. If there is any change in the price of the good then as a result this will also change the purchasing power of the consumer and then the consumers reallocate their income.
If there is an increase in the price of the product then as a result this will reduce the purchasing power of the consumer.
For example;
Consumer income = $1,000
Purchases 20 units of good X and 30 units of good Y with his given money income.
Now, if there is an increase in the price of good X, then
Consumer purchases 15 units of good X and 30 units of good Y with the same level of money income.
This indicates that amount of goods purchased is reduced because of the increase in the price of one of the good.
Carly could best show the interviewer that she possesses the psychological dimension of the global mindset by discussing: How fluent she is in German and how knowledgeable she is about German literature, film, and music How she was able to build strong, mutually trusting relationships with colleagues at manufacturing facilities in the Ruhr in Germany How much she enjoyed improving her conversational German by living with a host family for one semester in college?
Answer:
How much she enjoyed improving her conversational German by living with a host family for one semester in college.
Explanation:
Global mindset can be defined as a set of attributes and qualities that a manager has that will be relevant to influence individuals, organizations and groups in other locations in the world.
There are three main dimensions of the global mindset:
Psychological, Social and Intellectual.In the case of the above question, Carly wants to show the interviewer that she has the psychological dimension of the global mindset, so the most suitable example is the option "How much she enjoyed improving her conversational German by living with a host family for one semester in college".
Because the psychological dimension corresponds to individual emotional expression, according to a constructive attitude towards diversity and their willingness to be and really get involved in the global environment.
Final answer:
To demonstrate the psychological dimension of the global mindset in an interview, Carly can discuss building strong relationships with German colleagues and the experience of improving her conversational German skills.
Explanation:
The psychological dimension of the global mindset encompasses a pervasive feeling of confidence in handling challenges presented by internal and external environments (pg. 19). To demonstrate this in an interview, discussing how she built strong, trusting relationships with colleagues at manufacturing facilities in Germany showcases the ability to navigate cultural differences and build connections effectively. Additionally, highlighting the experience of living with a host family to improve conversational German skills indicates adaptability and willingness to engage with different cultures.
Must such discrimination have been committed by the employer or can the discrimination have been committed by society in general?
Answer: add me on brainly @itsamulaa
Explanation:
_____ is a company's social responsibility to not violate accepted principles of right and wrong when conducting its business.
Answer:
The correct word for the blank space is: Ethical Responsibility.
Explanation:
Corporate Ethical Responsibility involves the set of good practices a firm establishes in part of its organizational culture and draws a clear separating line between what is right and wrong. This commitment is to be provided to the environment where the company operates and with the employees working in the firm.
Your company has a fixed monthly operating cost of $4173 (rent, fixed utilities, etc.) on top of the $5.13 it costs you to make each t-shirt. Write a linear equation expressing your total monthly expenditures/costs as a function of price per t-shirt. Again, please be explicit about what your chosen variables represent
Answer:
Y = $4,173 + ($5.13)X
Explanation:
A fixed monthly operating cost of $4,173 is a monthly cost that will not change no matter the number or unit of t-shirt produced, while $5.13 is the variable costs of making each t-shirt. This can be presented in a linear equation as follows:
Y = a + bX .............................. (1)
Where,
Y = Total monthly cost of producing shirts
a = fixed cost = $4,173
b = variable cost of each shirt = $5.13
X = number of shirts produced
Using the values already given, equation (1) can be rewritten as follows:
Y = $4,173 + ($5.13)X .............................. (2)
Equation (2) is the required linear equation.
Danny works for a home electronics store and is a member of a team created to increase communication among various departments. Danny has networked with new people and now has strong contacts for each department when he needs them. Danny is a member of a ________ team
Answer:
Cross functional team
Explanation:
Cross-functional team - it is refer to that team that consist of people from different department and works for a common minimum program. The reason behind forming the Cross-functional team is to divide the work into the team and reduce the chances of politics that prevail within the department.
cross-functional teams help to synergies the environment that is comprised of different skills and experience and ultimately lead to creative outputs.
The question "Should bank withdrawals be conducted by tellers or ATMs?" is an example of which fundamental economic question?
Answer:
The how to produce question
Explanation:
When making a choice of how to produce goods and services, there are two considerations. Will method of production be labor based or capital intensive?
For labor based production it makes use of more labor and less capital of machinery. This is exemplified by the teller making payments.
Capital intensive means of production uses more of capital means or machinery, for example where ATM machines are used to pay money.
The project indirect costs associated with a project include overhead, facilities, and resource opportunity costs. Group of answer choices True False
Answer:
True.
Explanation:
Indirect cost are cost incurred in the production process that cannot be traced directly back to the product, but contributes to the production process in general. For example the salary of wages is not a cost that is directly included in the product itself, but workers are needed to perform tasks and operate the machines that produce the product.
Direct cost are traceable directly to the product and include raw material.
So overhead, facilities and resource opportunity cost are all indirect cost in producing the product.
In a certain economy in 2005, households spent $1,000 on goods and services; purchases of capital equipment, inventories, and structures amounted to $350; government spent $450 on goods and services; and the value of imports exceeded the value of exports by $50. It follows that 2005 GDP for this economy was a $2,100. b $1,850. c $1,950. d $1,750.
Answer:
d $1,750
Explanation:
The computation of the GDP is shown below:
= Household expense + purchase cost of capital equipment, inventories, and structures + government spending - net exports
= $1,000 + $350 + $450 - $50
= $1,750
Since the value of imports exceeded the value of exports that means imports value is exceeded then the exports value and the net exports equal to
= Exports - imports
= -$50
Final answer:
The GDP for the given economy in 2005 is calculated by adding household spending, business investments, and government spending, then subtracting the net exports, which results in a total GDP of $1,750.
Explanation:
To calculate the gross domestic product (GDP) for an economy, you need to add up consumer spending, investments, government spending, and net exports (which is exports minus imports). The question provides the following information for the year 2005:
Household spending (Consumption): $1,000Business investments: $350Government spending: $450Net exports (exports minus imports): -$50 (since imports exceed exports)Using the formula for GDP:
GDP = Consumption + Investments + Government Spending + (Exports - Imports)
We can calculate the GDP as follows:
GDP = $1,000 + $350 + $450 - $50
GDP = $1,750
So, the correct answer is d $1,750.
Mike Tyson (a professional boxer) witnesses a fight between Mary (an 80 pound 7th grader) and Suzy (an 85 pound 6th grader). In an effort to break up the fight, Tyson picks up Suzy, pins her against the wall, crushing several ribs. Tyson
a. can successfully claim self defense.
b. will not win a claim self defense.
c. can successfully claim defense of others.
d. will not win a claim of defense of others.
Answer: d). Will not win a claim of defense of others.
Explanation: Defense of Another is the legal right of a person to protect a third party with reasonable force against another person who is threatening to inflict force upon the third party.
A claim of defense of others can only be considered when there is a substantial evidence that inflict of harm was threatened. In the case of Mike Tyson, he is a professional boxer of which there could never have been any fear of inflicting of harm from either a 6th or 7th grader.
The correct answer is (d) Mike Tyson would not win a claim of defense of others because his action of pinning and injuring Suzy by crushing her ribs is considered excessive and disproportionate force, which is not reasonable when defending others, especially children.
Explanation:
In this scenario, Mike Tyson, a professional boxer, intervenes in a fight between two young girls, Mary and Suzy. will not win a claim of defense of others. In legal terms, the claim of self-defense or defense of others requires the defender to use a reasonable amount of force about the threat being presented. Considering the significant difference in physical size and strength between Mike Tyson and the girls, as well as that one girl, Suzy, is pinned and sustained serious injuries, Tyson's use of force by crushing her ribs is excessively disproportional to the threat posed by the fight between the children. Thus, Tyson's actions exceed what is typically considered reasonable force to defend others, particularly when children are involved, and it is unlikely that a claim of defense of others would be successful in a court of law.
Top Ramen is a brand of noodles that is widely considered to be an inferior good with a high salt content. What would happen to the equilibrium price and equilibrium quantity of Top Ramen if income went up and the price of salt decreased?Group of answer choicesa. The equilibrium price goes up and equilibrium quantity goes up.
b. The equilibrium price is indeterminate and equilibrium quantity goes up.
c. The equilibrium price goes down and equilibrium quantity is indeterminate.
d. The equilibrium price is indeterminate and equilibrium quantity goes down.
e. The equilibrium price goes up and equilibrium quantity is indeterminate.
Final answer:
The correct answer is (b) The equilibrium price is indeterminate and equilibrium quantity goes up, as the increase in income would decrease the demand for Top Ramen, an inferior good, while the decrease in the price of salt would increase its supply, influencing the equilibrium in opposite ways.
Explanation:
The question addresses changes in the equilibrium price and equilibrium quantity of Top Ramen, a brand of noodles considered to be an inferior good, when income increases and the price of salt decreases. An inferior good is one where demand decreases as income increases, while a decrease in the cost of salt, an input for Top Ramen, would likely lead to an increase in the supply of Top Ramen.
An increase in income would typically lead to a decrease in the demand for an inferior good, which would tend to decrease the equilibrium price and quantity. However, a decrease in the price of salt would increase the supply of Top Ramen, which would tend to increase the equilibrium quantity and decrease the equilibrium price. When combining these two economic movements, the equilibrium price becomes indeterminate because the effects on price from a demand decrease and a supply increase oppose each other.
On the other hand, the equilibrium quantity would definitely increase, because both the decrease in demand (which lowers quantity demanded at the original price) and the increase in supply (which raises quantity supplied at the original price) result in suppliers willing to sell more at the new, lower price that the market would settle at.
Therefore, the correct answer is: b. The equilibrium price is indeterminate and equilibrium quantity goes up.
Final answer:
With an increase in income, the demand for Top Ramen, an inferior good, will decrease, leading to a lower equilibrium quantity. The price of salt decreases, leading to an increase in supply, making the equilibrium price indeterminate. Thus, the equilibrium price is indeterminate and the equilibrium quantity goes down.
Explanation:
When considering the effect of a change in income on the demand for an inferior good such as Top Ramen, an increase in income typically leads to a decrease in demand since consumers will often opt for higher-quality substitutes. Since Top Ramen is considered an inferior good, we can predict that as income goes up, the demand for Top Ramen will go down. Conversely, a decrease in the price of salt, which is a cost component of producing noodles, would lead to an increase in the supply of Top Ramen as it becomes cheaper to produce.
Therefore, with an increase in income, the equilibrium quantity of Top Ramen is expected to decrease. However, the equilibrium price is indeterminate because while a decrease in demand would normally lead to a lower price, an increase in supply would tend to lower the price further. Ultimately, the combined effect of these two changes is uncertain on the price without additional information on the relative magnitude of the shifts in supply and demand.
In summary, the answer is - the equilibrium price is indeterminate and equilibrium quantity goes down.
Although estimates vary, it is suggested that 80% or more of the job openings that exist are in the hidden job market. What is the difference between the published job market and the hidden job market?
Answer:
The difference between the published job market and the hidden job market is that the published job markets are the ones that are advertized in magazines, newspapers and web sites whereas, the hidden job market are the ones that are sourced internally in an organisation.
Explanation:
The published job market refers to publicly advertised job opportunities, while the hidden job market comprises positions filled through internal hires, referrals, or networking, which are not advertised. Up to 80% of jobs are believed to be part of the hidden job market, with variations by industry and job level. Accessing the hidden job market requires networking and creative job-seeking strategies.
The difference between the published job market and the hidden job market is that the published job market consists of job opportunities that are advertised publicly and are accessible to anyone with the right qualifications to apply. These can be found on company websites, job boards, newspapers, or job fairs. In contrast, the hidden job market includes employment opportunities not publicly advertised or posted, often filled through internal hires, referrals, or networking.
It is suggested that a significant majority of job openings, possibly up to 80%, are part of the hidden job market. Industries and job levels play a role in determining how prevalent the hidden job market is, with higher-level or specialized positions in certain sectors, such as IT, being more likely to be filled without a public job posting.
To tap into the hidden job market, job seekers need to employ strategies beyond submitting a resume and cover letter. Networking is crucial, integrating use of social media, conducting informational interviews, and attending professional events. Leveraging contacts such as friends, family, faculty, and former employers, collectively known as the Four F's, can be particularly effective.
Chocolate and More offers a bond with a coupon rate of 6 percent, semiannual payments, and a yield to maturity of 7.73 percent. The bonds mature in 9 years. What is the market price of a $1,000 face value bond?
Answer:
$889.29
Explanation:
We have to use the PV formula that is shown in the attachment.
Given that,
Future value = $1,000
Rate of interest = 7.73% ÷ 2 = 3.865%
NPER = 9 years × 2 = 18 years
PMT = ($1,000 × 6%) ÷ 2 = $30
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the market price of a bond is $889.29
Since in semi annual basis, the interest rate is half and the time period is doubled. The same is applied
On July 1, 2016 Harold paid $10000 for a Ten year bond with a stated interest rate of 5%, payable annually on July 1. On April 1, 2017, 274 days after purchasing the bond, Harold sold the bond to Sam for 10050. Which of the following should be reported on Harold’s return.
a. $0 of interest income and $50 of short term capitol gains
b. $125 of interest income and $50 of short term capital gain
c. $375 of interest income and $50 short term capital gain
d. $376 of interest income and $375 of short term capital loss.
Answer:
c. $375 of interest income and $50 short term capital gain
Explanation:
The question is to determine the income and the capital gains to be reported by Harold on his 10 year bond.
Capital Gains represent are gains or loss can either be generated as a result of selling your bond fund before its maturity or when the bond is held to maturity.
Furthermore, the rule specifies that to treat the capital gains on the bond as long term it must be held for at least a year.
In this question:
The bond was purchased on the 1st of July, 2016 at $10,000
The bond was sold April 1, 2017 at $10,050. Since, the bond was only held for 274 days. It will only get short term capital gain
Short term capital gain = $10,050- 10,000 = $50
Also, The interest on bond income = (10,000 x 5%) x ( 274/ 365 days)
= 500 x 0.75
=$375 Interest Income
Fill in the blanks with given options:
Your coworker Susan is really concerned about a project that he has just been assigned. He is in charge of analyzing and determining conditions in the market for televisions from an extensive sales report.
a. If Edison's boss is interested in a graphical presentation of the relationship between the price and quantity of televisions demanded, you would advise your coworker to construct __________ using the data provided. However, if Edison's boss is more interested in the detailed numbers used to construct this visual representation, you would instead advise your coworker that __________ would be more appropriate.
Options:
1. the law of demand
2. a demand curve
3. a demand schedule
Answer:
2. a demand curve
Explanation:
Assume that one laborer produces 6 units of output, two laborers produce 14 units, three laborers 22 units, four laborers 24 units, and five laborers 25 units. Diminishing returns set in when the firm hires:
Answer:
Diminishing returns set in when the firm hires four laborer
Explanation:
given data
one laborer produces = 6 unit
two laborer produces = 14 unit
three laborer produces = 22 unit
four laborer produces = 24 unit
five laborer produces = 25 unit
solution
we know that in the Diminishing returns it is refer to that fact when once it hit an certain point than each of the additional units give it less and the less returns for money
so here when one laborer 6 unit produce so when two it is more 8 more and when three than 8 but when four labor than it is 2 more production only
so here Diminishing returns set in when the firm hires four laborer
Final answer:
Diminishing marginal productivity begins after the hiring of the third laborer, as the fourth laborer adds significantly less output than the previous one, indicating a decrease in additional output per worker.
Explanation:
The subject in question involves the concept of diminishing marginal productivity, which falls under the realm of economics, a subfield in business education. This concept states that there is a general rule that as a firm employs more labor, the amount of additional output produced by each extra worker eventually starts to decline.
When analyzing the production information provided, we need to compare the additional output (marginal product) each worker provides to the total output (total product). Diminishing returns set in when the additional output gained from hiring one more laborer is less than the marginal product of the laborer hired before them.
In this case, one laborer produces 6 units of output, while two laborers produce 14 units, so the second laborer's marginal product is 8 units (14 units - 6 units). The third laborer's marginal product is 8 units as well (22 units - 14 units). However, when the fourth laborer is hired, the total output increases to only 24 units, so the marginal product of the fourth laborer is 2 units (24 units - 22 units), indicating a significant decrease. Thus, the diminishing marginal productivity kicks in after the third laborer is hired.
The reasoning behind this is that in the short run, labor is the only variable factor, and each additional worker contributes less to the total output due to the fixed capital. This situation often leads to workers performing less essential tasks, like stocking shelves or answering phones, hence causing diminishing returns.
16. Which of the following is among the factors that influence process selection? A. Capital requirements B. Labor C. Technology D. All of the above
Answer:
D. All of the above
Explanation:
You just won $60,000 on a scratch-off lottery ticket. You plan to save the money in a retirement account expected to return 7% per year. If you intend to retire in 45 years, how much are these lottery winnings expected to be worth when you retire?
Answer:
Total amount after 45 years will be equal to $12+0147.1
Explanation:
We have given initial amount, that is principal value P = $60000
Expected rate of return r = 7 %
Time period n = 45 years
We have to find the amount after 45 years , that is future value
Future value is given by
[tex]A=P(1+\frac{r}{100})^n[/tex], here A is future value P is present value r is rate of interest and n is time period
So [tex]A=60000\times (1+\frac{7}{100})^{45}[/tex]
[tex]A=60000\times 1.07^{45}[/tex]
[tex]A=60000\times21=1260147.1[/tex] $
So total amount after 45 years will be equal to $12+0147.1
The future value of $60,000 invested at a 7% annual return over 45 years is calculated using the compound interest formula, yielding a value of approximately $2,007,138 at retirement.
Explanation:To calculate the future value of a $60,000 lottery winning invested in a retirement account that returns 7% per year over 45 years, we use the formula for compound interest:
FV = P(1 + r)^n
Where:
FV is the future value of the investmentP is the principal amount ($60,000)r is the annual interest rate (expressed as a decimal, so 7% becomes 0.07)n is the number of years the money is invested (45 years)Plugging in the values, we get:
FV = $60,000(1 + 0.07)^{45}
Calculating this yields:
FV = $60,000(1 + 0.07)^{45} = $60,000(1.07)^{45}
Which equals:
$60,000 x 33.4523 = $2,007,138
The lottery winnings are therefore expected to be worth $2,007,138 when you retire in 45 years.