Answer:
Monopolistically competitive firms are regulated by the government to keep long-run economic profits equal to zero.
Explanation:
Monopolistic competition is a type of imperfect competition with many sellers selling similar, but not identical products and there are not perfect substitutes.
In the short run, a monopolistically competitive firm will select the rate of output where marginal revenue equals marginal cost. In the long-run monopolistically competitive firms are regulated by the government to keep long-run economic profits equal to zero.
Answer:
B) earn a positive economic profit if price is greater than ATC.
Explanation:
Monopolistically competitive markets are not monopolies, they are markets will many suppliers that provide differentiated products, e.g. restaurants.
In order to maximize their accounting profits, they must sell their products at a price where marginal revenue (MR) = marginal costs (MC). Monopolistically competitive firms do not produce at minimum average total cost, because they generally operate with excess capacity. Excess capacity = quantity produced at minimum ATC - quantity that yields the greatest profits (MR = MC).
Monopolistically competitive firms can earn economic profit if their price is higher than ATC.
1. For any country after it allows free trade,
a. domestic quantity demanded is equal to domestic quantity supplied at the world price.
b. domestic quantity demanded is greater than domestic quantity supplied at the world price.
c. both producers and consumers in that country gain when domestic products are exported, but both groups lose when foreign products are imported.
d. the domestic price is equal to the world price.
Answer:
b
Explanation:
Values are Group of answer choices a. The deeply held convictions that influence your thinking when you are faced with choices b. The tangible forces that guide and influence your decisions throughout your life. c. Self-motivators that indicate what you do not consider most important in your life. d. Reflected in what you actually do not do with your time and your life.
Answer:
a. Deeply held convictions that influence your thinking when you are faced with choices
Explanation:
A conviction refers to a firmly held belief of an individual.
An individual forms his values from his family, friends and people around which gradually shape perspective.
Values determine how an individual behaves socially, what constitutes morally right and what is not. They govern the ethical behavior of an individual.
Values are personal in nature in the sense those ain't generally acceptable principles. Those differ from individual to individual. They determine the course of action of an individual when faced with challenges and alternatives.
Simonne, a single taxpayer, bought her home in Orlando 25 years ago for $55,000. She has lived continuously in the home since she purchased it. In the current year, she sells her home for $405,000. What is Simonne's taxable gain on the sale?a. $0b. $90,000c. $100,000d. $350,000
Answer:
C) $100,000
Explanation:
Since Simmone is a single taxpayer, she can exclude up to $250,000 from her home's basis when calculating her capital gains from selling the house. She obviously met the requirement of living in the house for two years before selling, so her taxable gain = $405,000 (selling price) - $250,000 (single taxpayer exclusion) - $55,000 (house basis) = $100,000.
If she was married, her exclusion would be $500,000.
According to U.S. tax law, a taxable gain from the sale of a home is the selling price minus the purchase price, less the $250,000 tax-free allowance provided they owned and used the home as their main home for at least 2 of the 5 years before the sale. In Simonne's case, her taxable gain is $100,000. Option C is correct.
Explanation:The tax situation explained in the question is about the U.S. rules for taxation of gains from the sale of a primary residence. According to the U.S. IRS (Internal Revenue Service), a taxpayer may exclude up to $250,000 ($500,000 for married couples) of gain on the sale of a property, provided they owned and used the home as their main home for at least 2 of the 5 years before the sale.
Therefore, for Simonne, firstly we calculate the gross gain from the sale, which is selling price minus purchased price = $405,000 - $55,000 = $350,000.
As this gain is higher than $250,000, Simonne has a taxable gain, but only on the amount over $250,000.
Therefore, her taxable gain would be $350,000 - $250,000 = $100,000. So the answer is (c) $100,000.
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Alexander is a consultant at a finance company. Other employees approach him for help in all types of stressful situations. He always keeps calm and is quick at finding solutions to problems. In the context of personalities, Alexander can be described as being _____.
Answer:
These are the options for the question:
A) unconscientious
B) conscientious
C) emotionally stable
D) emotionally unstable
And this is the correct answer:
C) emotionally stable
Explanation:
Alexander can be described as being emotionally stable because he stays calm in stressful situations. In other words, he does not let situations stress him out so much until losing control, no matter how difficult those situations are.
He could also be probably described as conscientious but the statement in the question does not specify whether he is orderly or methodic or not, so the best option is C).
Type the correct answer in the box. Spell all words correctly. Which drawback of being an entrepreneur can disrupt your personal life? The that entrepreneurs suffer because of problems in business can disrupt their personal life.
Answer:
an unpredictable and long work schedule
Explanation:
Being an entrepreneur requires a lot of effort, passion and time. The most scarce resource of all is time, since not even the richest person in the world can add more hours to a day. An entrepreneur must work a lot in order to make his/her company succeed and a lot of work takes a lot of time. An entrepreneur's work schedule is both unpredictable and extremely long. Such a combination is sometimes terrible for your personal life. That is why many entrepreneurs actually work with their partners, e.g. small businesses are generally run by families. If work will absorb so much of your time, you might share your work with your loved ones.
Answer:
PLATO users!!
The Answer is Stress
Explanation:
I got it right on the test, id add a screenshot but I don't know how to take a screenshot on my new laptop.
What is a benefit of stock markets?
Answer:
currently there will be no benifits because of the Corona Virus because the stock market is crashing.
A benefit is that the market allows the average individual investor to get into a diversified portfolio.
It also allow the investor to check the values of their daily holdings and it allows them to add periodically to their accounts. In addition, the market encourages them to put money away for long term-goals.
The task of securing all necessary personnel, space, and financing; supervising all production and promotion efforts; fielding all legal matters; and distributing the proceeds derived from receipts falls to the:_______.
Answer:
producer
Explanation:
The producer of a movie, theater play, sitcom, etc., is the person in charge of securing everything that is needed in order for the movie, play, etc., to be properly carried out. That means he/she is responsible for gathering the necessary funds and paying salaries and all other expenses. The producer is also responsible for dividing the money generated by the movie, play, etc., and distributing it to the investors.
A local movie theater had small cups of popcorn sitting on the counter where patrons purchased tickets. The cups were called "complimentary cups," and their purpose was to promote the sale of popcorn. This procedure is most similar to:_________.
a. self-reinforcement.
b. generalized reinforcement.
c. intermittent reinforcement.
d. reinforcer sampling.
Answer: Reinforcer sampling.
Explanation:
Reinforcer sampling is the method of applying a reinforcer to an individual(s) that ensures the individual(s) acts in a particular desired way. The movie theater described in the question are making use of reinforcer sampling when placing little pop corns cups at the entrance of the theater, this helps as a trigger that propels the movie watchers to want to buy pop corns.
If the adjustment for accrued revenue is not recorded a.assets will be overstated. b.net income will be overstated. c.liabilities will be overstated. d.net income will be understated.
Answer:
The correct answer is d. net income will be understated.
Explanation:
The accumulated or accrued income will be represented by those that have been earned during a financial year but that have not been received or recorded in the payment, because the term has not yet expired. If they are not recognized within the accounting year, it is said that the income item is being underestimated, and for that reason the information in the financial statements is not being faithfully represented.
Schumpeterian growth focuses on:______. a. capital formation (i.e., more physical capital) as central to economic growth.b. arguing that diminishing returns to capital are overstated .c. the role of cities as central to economic growth.d. the role of technological innovation and entrepreneurs as central to economic growth. e. market expansion as central to economic growth.
Answer:
Option D The role of technological innovation and entrepreneurs as central to economic growth.
Explanation:
The reason is that these generate value of the country's product due to its uniqueness and preferable services provision which means that the exports of the product will grow and the domestic sales will also grow if the product is innovative. Innovations brings the demand because nowadays the fight is not on the borders the fight among countries is generating heavy amount of reserves through increase in exports. And this growth in economy is only possible if the country's products are produced efficiently on the international market which is only possible if the innovation has decreased the cost of producing the products or the products produced are efficient.
Schumpeterian growth focuses on the role of technological innovation and entrepreneurs as central to economic growth. Innovators and entrepreneurs drive economic growth by creating new technologies or introducing innovative ways of doing things. Technology, in this view, is the primary driver of economic growth.
Explanation:Schumpeterian growth theory primarily focuses on d. the role of technological innovation and entrepreneurs as central to economic growth. Joseph Schumpeter, the founder of this theory, posited that innovators and entrepreneurs drive economic growth by creating new technologies or introducing innovative ways of doing things. It is the cycle of innovation and creative destruction, the process by which old ways are replaced by new ones, that propels the economy forward.
In this view, the primary driver of economic growth is not necessarily more physical capital, i.e., capital formation, or market expansion, but rather innovative ideas and technologies. Also, it doesn't particularly focus on the role of cities in economic growth. While capital deepening, of both human and physical capital, is important for GDP growth, technology, according to Schumpeter, is the most important contributor to economic growth.
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Consideration in a bilateral contract always involves both:______.A. A legal benefit and a legal detriment.B. A legal waiver and a legal renunciation.C. A legal detriment and a legal impediment.D. A legal benefit and a legal waiver.
Answer:
The correcta answer is A legal benefit and a legal detriment.
Explanation:
The contract can be understood as the legal institutionalization of the economic phenomena of the production, circulation, distribution and commercialization of goods and services. In this sense, the legal structure of the contract demarcates, regulates and directs the instrument par excellence for the reproduction of economic relations, in a socio-economic system based on the exchange. In that context, the bilateral contract, legally defined as the one in which the contracting parties mutually oblige, is presented as the main channel of patrimonial attributions.
The contract, mainly the bilatera, thus fulfills indispensable socio-economic functions: in a sense that we could qualify as particular, the bilateral contract allows the subjects to provide goods and services; In another sense, more generally, the bilateral contract constitutes the legal mechanism that channels economic relations, which, as a whole, structure, sustain and reproduce the socioeconomic system.
The bilateral contract, to justify the attributions that are made through it, must respond to a basic criterion of commutability, of exchange, of balance between the benefits that intersect to support the contractual structure itself. Even beyond the fact that the contract meets obligations for both parties, that criterion constitutes the central element of a correct definition of the bilateral contract. The bilaterality of the obligation is not enough for the reciprocity of the contract. Rather, it is precisely for this reason that each party is bound so that the other is also obligated. There must therefore be a commutative contract, whereby each participant considers the benefit of the other as equivalent to the benefit itself. What happens, for example, in the purchase: the buyer is obliged to pay the price, so the seller promises the delivery of the thing.
External sources of generating product ideas include ________. Select one: a. customers b. marketing executives c. customer service representatives d. employees from R
External sources of generating product ideas include customers.
Option: A
Explanation:
Idea creation is critical as it helps you to broaden your repertoire of thoughts outside your current belief circle. We agree that you first have to extend thought to include more queries, more factors and more ideas before you start the cycle of refinement. The basis of innovative product concepts involve staff of businesses, consumers, rivals, external inventors, acquisitions and representatives of the chain. Both solicited and spontaneous thoughts can come from the basis, and some can even happen by accident.
External sources for generating product ideas include option a. customers. They provide vital feedback and insights through various means like surveys and social media, which help companies identify market needs.
External sources of generating product ideas include customers.
This is because they are the end-users who provide valuable insights and feedback on what products are needed, what improvements can be made, and what gaps there are in the market.
Companies often gather this information through surveys, customer interviews, suggestion boxes, social media interactions, and by monitoring trends in customer behavior and preferences.
Average cost is:
a. (variable cost)/(quantity).
b. (fixed cost)/(quantity).
c. (total cost)/(change in quantity).
d. (change in total costs)/(change in quantity).
e. (total cost)/(quantity).
f. (change in total costs)/(quantity).
Answer:
e. (total cost)/(quantity).
Explanation:
The average cost is the cost that includes the variable plus fixed cost and the number of units produced which we called as a quantity
In mathematically,
Average cost = Total cost ÷ Quantity
where,
Total cost = Fixed cost + variable cost
It is a sum of fixed cost and the variable cost
Quantity = Number of units produced
The long run is best defined as a time period during which at least one input cannot be changed. during which all inputs can be varied. during which consumer demand for goods and services change. that is longer than two years. One thing that distinguishes the short run and the long run is the number of months considered. implicit costs. the existence of marginal costs. the existence of at least one fixed input.
Answer:
The long run is best defined as a time period
during which all inputs can be varied.One thing that distinguishes the short run and the long run is
the existence of at least one fixed input.Explanation:
On the long run, all productive inputs can be changed and/or altered. that includes fixed costs like equipment and machinery, building facilities, processes, wages, etc.
On the short run, at least one of the inputs used to produce our goods or services cannot be changed, e.g. wages tend to be sticky, fixed costs (depreciation of equipment and machinery, buildings, etc.)
The long run is best defined as a time period that is long enough to change all factors of production. Option (b) is correct.
Over time, every input is variable. There are no diminishing returns over time because fixed capital prevents diminishing marginal production. Companies can select the best capital stock to generate the required level of output.
"The short run is a time frame during which at least one input's amount is constant while the quantities of the other inputs are flexible. The length of time in which all input quantities are flexible is known as the long run.
Therefore, Option (b) is correct.
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Foreign exchange ________ earn a profit by a bid-ask spread on currencies they purchase and sell. Foreign exchange ________, on the other hand, earn a profit by bringing together buyers and sellers of foreign currencies and earning a commission on each sale and purchase.
Answer:
Dealers, Brokers
Explanation:
Hoffman corporation issued $75 million of 7%, 15-year bonds at 104. each of the 75,000 bonds was issued with 15 detachable stock warrants, each of which entitled the bondholder to purchase, for $30, one share of $1 par common stock. at the time of sale, the market value of the common stock was $35 per share and the market value of each warrant was $8.
Answer:
Dr. Cash 78.0
Dr. Discount on Bonds Payable 6.0
Cr. Bonds Payable
Cr. Equity-Stock Warrants
Explanation:
The question is about the issuance of bonds and stock warrants and the calculation of total proceeds from the issuance.
Explanation:The subject of this question is Business, as it involves financial transactions and understanding the issuance of bonds and stock warrants.
To calculate the total proceeds from the issuance, we first need to calculate the total amount received from the bonds and the total value of the warrants. The total amount received from the bonds is $75 million * 104% = $78 million. The total value of the warrants is 15 warrants/bond * 75,000 bonds * $8 per warrant = $9 million.
Therefore, the total proceeds from the issuance is $78 million + $9 million = $87 million.
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Identify whether the following items would be reported on the income statement or balance sheet. 1. Cash 2. Service Revenue 3. Notes Payable 4. Interest Expense 5. Accounts Receivable
Answer:
Explanation:
Items to be reported in the Balance Sheet.
1. Cash
3. Notes payable
5. Accounts receivable
Items to be reported in the income statement.
2. Service Revenue
4. Interest Expense
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:
The correct option is D,Southern Rock Bank
Explanation:
A drawer is the person who has issued a check and from whose account funds are to be withdrawn.The drawer in this scenario is Cameron and Associates
A drawee is the bank that manages the account from which funds are to be withdrawn.The Southern Rock Bank is the drawee here.
The payee is the beneficiary of the issued check that has the right to present for cash or pays it into its checking account.The payee in the scenario is Office depot
Hence,this relationship can be said to be a tripartite one involving the drawer,the drawee and the payee
Tamarisk, Inc. sells merchandise on account for $7400 to Cheyenne Corp. with credit terms of 2/15, n/30. Cheyenne Corp. returns $1700 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check
Answer: $5,586
Explanation:
Tamarisk, Inc. sells merchandise on account for $7,400 to Cheyenne Corp. with credit terms of 2/15, n/30
Returned goods worth $1700 of merchandise that was damaged.
Total purchase. $7,400
Less: Return. ($1,700)
Net purchases. $5,700
Made pmt within the discount period of 15 days at 2% discount
Purchases of $5,700 x 2%. = $114
Total amount paid for the purchase is $5,700 - $114 = $5,586
Answer:
Bank $5586
Explanation:
In the books of Tamarisk Inc
Sr. No Particulars Debit Credit
1 Accounts Receivable $ 7400
Sales $ 7400
2 Sales $ 7400
Sales Returns $ 1700
Sales Discount $ 144
Bank $5586
WORKING:
The amount of Check
Credit Sales Less Sales Returns= $ 7400- $ 1700= $ 5700
Sales Discount =2% of Credit Sales= 2% of $ 5700= $ 114
Bank Amount = Credit Sales less Sales Discount= $ 5700- $ 114= $ 5586
The language "I offer to sell you my 1974 White Ford Torino" is: a. not a valid offer because it is oral. b. a valid offer. c. not a valid offer because it lacks a definite price. d. not a valid offer because there are no terms for payment.
Answer:
b. a valid offer.
Explanation:
A valid offer is when one party expresses interest of entering a contract that will be beneficial to both parties. There are three elements of valid offers:
- Communicated: the offeror communicates his willingness bro enter the contract with the offeree.
-Commited: is the offeror committed to the contract.
-Definite terms: in making the offer, the will be definite terms to the sale. This can be defined later during negotiation.
So the language "I offer to sell you my 1974 White Ford Torino" is a valid offer.
The city of Trenton, New Jersey, passed an ordinance making it unlawful to use any form of sound amplification on the city streets. Keller mounted a speaker on a truck. Through the speaker, he played music and spoke on a microphone while driving on city streets. Keller was convicted and fined $50. He appealed, arguing that the ordinance violated his rights of free speech and free assembly. The city claimed that the ordinance served a legitimate governmental function in keeping the city streets safe and orderly, and did not prohibit or unduly restrict any particular speech. The court probably found that the ordinance was ______.
Answer: constitutional as a reasonable restriction on fundamental rights.
Explanation:
The phrase 'reasonable restriction depicts that the control imposed upon a. person in enjoyment of the right should not be arbitrary or of an excessive nature, beyond what is needed in the interest of the public.
The court probably found that the ordinance was valid because its purpose was to maintain public order and safety and it was indirectly related to any form of speech.
Explanation:The subject of this question revolves around constitutional law, particularly the First Amendment rights of free speech and assembly. The hypothetical scenario involving Keller and the city of Trenton, New Jersey, poses the question of whether an ordinance prohibiting sound amplification on city streets unduly restricts these rights.
While the constitution does protect the right of free speech and assembly, it does not cover all forms and contexts of speech without exception. The court must assess whether the ordinance serves a legitimate public interest and whether it is neutral regarding the content of the speech. In this case, the ordinance prohibits all sound amplification, regardless of the speech content, and the city argues that it is necessary for maintaining safety and order on the streets. Thus, it appears that the ordinance does not specifically target any particular form of speech, making it content neutral.
In terms of the public interest, maintaining safety and order is a valid concern for a local government. Therefore, it is likely that the court would uphold the ordinance, finding that it does not violate Keller's First Amendment rights.
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The Village Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $2,000 on hand. The adjusting entry that should be made by the company on June 30 is ____________.
Answer:
The adjusting entry that should be made by the company on June 30 is
Inventories $ 6,500 (debit)
PPE Asset $ 6,500 (credit)
Explanation:
Error Made on June 30 was as follows : Village Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the purchase as an asset.
PPE Asset $6,500 (debit)
Cash $6,500 (credit)
On 30 June the amount of inventory reported is understated by $6500.While the amount of Assets recorded is overstated by $6500
Therefore the adjasting entry for this situation is as follows
Inventories $ 6,500 (debit)
PPE Asset $ 6,500 (credit)
Thus increasing the Inventory balance and decreasing the PPE Asset Balance.
Answer:
Debit supplies expense $4,500
Credit supplies account $4,500
Explanation:
When the laundry supplies was purchased, the entries posted is debit to supplies account, credit to cash/accounts payable depending on whether cash was paid or the supplies were made on account.
As the supplies are used, the amount used is accounted for by debiting supplies expense and crediting supplies account.
As such, the balance in the supplies account is the net of the initial debit at purchase and the credit on use.
Hence adjusting amount
= $6,500 - $2,000
= $4,500
LCB Inc. has a 6% 20-year maturity $1,000 par value bond that currently has a yield to maturity of 7.5%. How much does LCB pay in annual interest on one of these bonds?
Answer:
$60
Explanation:
Data provided in the question
Yield to maturity = 7.5%
Time period = 20 years
Par value = $1,000
Annual interest Rate = 6%
Now the annual interest rate is
= Par value × annual interest rate
= $1,000 × 6%
= $60
In order to find out the annual interest rate , we multiplied the par value with the annual interest rate
The methods that it uses to regulate business practices, defines how companies conduct business transactions, specifies the rights and obligations of those engaged in business transactions, and spells out the methods of legal redress to those who believed they have been wrong are aspects of a country's _____.
Answer:
legal system
Explanation:
There are five basic legal systems used in different countries around the world: civil law, common law, customary law, religious law, and mixed legal systems.
Generally business operations are included under common law (US and UK + former colonies) or civil law (based on Roman law used in most of Europe and Latin America), at least in western countries. This includes both North and South America, western European countries, and Australia + NZ.
Personally I don't know about the rest of the non western countries.
Geraldine Parker, the owner of Gi Grs Dance Studio, Inc., started the business by investing $10,000 cash and donating a building worth $20,000. Identfy the general jourmal entry below that Gi Gřs will make to record the transaction. A. Cash 30. Common Stock 0,000 B. Common Stock 30 Cash 10,000 Building 20,000 C. Cash 10,000 Building 20.000 Common Stock D. Common S Stock 30,000 Retained Eamings E. Cash & Builing 30,000 Common Stock 30,000
Answer:
The correct option is B,common stock 30,000 cash 10,000 and building 20,000
Explanation:
Geraldine Parker's contributions to the business -that is both cash and building are seen as his capital invested in the business.Invariably, it is assumed the new business owes Geraldine Parker the worth of resources invested
Appropriate double entries for the transaction are shown below
Dr Cash $10000
Dr Building $20000
Cr Capital $30000
This is the capital as at the start of the business,it is also possible that Geraldine Parker contributes additional capital which adds to existing capital.
Also,the profits made increases the stake of the owner in the business and drawings should e deducted from the capital in case the owner withdraws cash or goods from the business.
Establishing a hierarchy to let all management and employees know what is going on in a company would be an example of what element of internal control?
Answer:
Information and communication
Explanation:
Internal control refers to the management procedures in place used to accomplish the objectives such as promote efficient and effective operations, ensure the reliability and integrity of financial information, safeguard the organisation's assets, etc. A good system of internal control is essential to the availability of information and a clear and obvious strategy for communicating obligations and expectations.
What a company does, how a company uniquely does it, how a company gets paid for doing it, and what costs are involved are all part of an organization's ________. revenue model value model competitive model business model strategic model
Answer:
business model
Explanation:
A "business model" is used by companies in order to make sure that their business will earn a profit. This type of model identifies the company's business, such as its products or services. This includes the costs involved and the sources of financing that the company has.
Not all business models can be successful, but a successful one allows the company to fulfill the needs of the customers. This is coupled with a competitive price of the goods and services as well as sustainable cost.
So, this explains the answer.
Gabriel, the CEO of a large global production company, is excited about the introduction of statistics and computer simulations in the design stage of the company's products. Gabriel is using:____________
Answer:
Quantitative techniques.
Explanation:
Gabriel is using quantitative techniques in order to better analyze, strategize, plan, control, and direct his company's operations.
Statistical information and numerical analysis are quantitative techniques because they use mathematical models to reach a particular conclusion or result.
These techniques tend to be very effective because they are likely to be more accurate than qualitative techniques, however, they do not always suffice, and CEOs frequently have to rely on other techniques (such as intuition) to take decisions.
The central idea for Janelle's speech on the importance of using sunscreen does not break down into logical divisions. Rather than forget this topic and try to find one that divides more logically, what other suggested strategy should Janelle apply
Answer:
find new supporting material on the topic and start again
Explanation:
Based on the information provided within the question it can be said that the suggested strategy that Janelle should apply would be to find new supporting material on the topic and start again this will allow Janelle to have more information that will help her divide her thoughts more efficiently and logically within her speech.
Answer:
B) establish reasons why her central idea is true
Explanation:
Since Janelle's speech has several weak spots, she must perform a little more research in order to establish a stronger central idea. Or maybe she already has done enough research and she possesses all the necessary information, but her speech is lacking order.
Whichever the case, she must come up with arguments that support her central idea, i.e. her speech is lacking focus.
Sky High Seats manufactures seats for airplanes. The company has the capacity to produce 100,000 seats per year, but currently produces and sells 75,000 seats per year. The following information relates to the current production of the product:
Sale price per unit: $ 440
Variable costs per unit:
Manufacturing: $ 230
Marketing and administrative: $ 50
Total fixed costs:
Manufacturing: $800,000
Marketing and administrative: $220,000
If a special sales order is accepted for 7,000 seats at a price of $340 per unit, and fixed costs remain unchanged, how would operating income be affected? (NOTE: Assume regular sales are not affected by the special order.)
A. Increase by $ 2,380,000
B. Increase by $ 420,000
C. Decrease by $ 420,000
D. Increase by $ 6,000,000
Answer:
Increase by 420.000$
Explanation:
Company's annual revenue at this level is: 75.000*440 = 33.000.000$. Total variable expenses are 280*75000= 21.000.000$. Total fixed expenses are 1.020.000$ making its annual profit equal to 10.980.000$. As regular sales won't be affected with the special order, and since company does not uses its entire production capacity, we can treat fixed costs as non-reimbursable costs. Therefore, we only observe relations of variable costs and income.
With price of 340$ per unit, total income is 2.380.000$ and total variable costs are 1.960.000$. The difference is 420.000$ and relates to the increase in profit in terms of non-used total production capacity.