Producer surplus is A. the difference between the lowest price a firm would be willing to accept and the price it actually receives. B. the difference between the highest price a consumer is willing to pay and the price the consumer actually pays. C. the difference between the lowest price a firm would be willing to accept and marginal cost. D. the market price multiplied by the number of units sold by a firm. E. the difference between the highest price a consumer is willing to pay and the lowest price a firm would be willing to accept.

Answers

Answer 1
Producer surplus is the difference between how much a person would be willing to accept for given quantity of a good versus how much they can receive by selling the good at the market price. The difference or surplus amount is the benefit the producer receives for selling the good in the market.

Related Questions

Which of the accounts below would appear on an adjusted trial balance but probably would not appear on the trial balance? Group of answer choices Fees Earned Accounts Receivable Unearned Fees Depreciation Expense

Answers

Answer:

Depreciation Expense

Explanation:

There are two sections consist of debit columns and credit columns in the trial balance. Moreover,  the debit and the credit total are always equaled and matched

While the adjusted trial balance is the trial balance that is prepared after recording the adjusting entries

So, the depreciation expense should probably would not be appear as it is to be charged over the remaining life of the fixed asset

Correct answer is option c. Depreciation Expense appears on the adjusted trial balance but not usually on the unadjusted trial balance due to adjustments made at the end of the period.

When preparing financial statements, certain accounts typically appear on an adjusted trial balance but might not be present on the unadjusted trial balance.

One such account is Depreciation Expense. This account represents the allocation of the cost of tangible assets over their useful lives and is often recorded during the adjusting entries at the end of the period.Other examples of adjustments include increases (or decreases) in Accounts Payable, changes in Accrued Expenses, and adjustments for Prepaid Expenses. These adjustments are made to reflect more accurate financial positions of the company in the final adjusted trial balance

Complete question-

Which of the accounts below would most likely appear on an adjusted balance but probably would not appear on the unadjusted balance?

a.Accounts Receivable

b. unearned Fees

c. depreciation Expense

d.Fees Earned

Nalpas Inc., an apparel company, manufactures clothes for men, women, and children. It further divides its core customers according to demographic variables such as income, ethnic background, and family life cycle. These demographic variables are examples of _____.

Answers

Full question:

Nalpas Inc., an apparel company, manufactures clothes for men, women, and children. It further divides its core customers on the basis of demographic variables such as income, ethnic background, and family life cycle. In this context, these demographic variables are examples of _____.

a. positioning bases

b. segmentation bases

c. product classes

d. market positions

Answer:

In this context, these demographic variables are examples of segmentation bases

Explanation:

Segmentation bases are the dimensions that can be applied to fragment a market. A segmentation basis is described as an assortment of variables or features used to select dormant customers to analogous groups. Demographic segmentation is one of the usual recommended and commonly used varieties of market segmentation.

Segmenting based on identifiable group attributes, such as age, profession, matrimonial status and so on. Because demographic information is analytical and accurate, it is normally almost easy to reveal using various sites for market research.

The U.S. Bureau of Economic Analysis​ (BEA) has recently adopted a new approach to calculate real GDP and real GDP growth to correct the problems of the fixed weights approach. One of the features of the new approach is​ that, now BEA uses

Answers

One of the features of the new approach is​ that, now BEA uses the geometric average of fixed weight indexes and uses two base years to calculate the growth rate of real GDP between two consecutive years.

Explanation:

In both actual and nominal GDP, the U.S. Economic Analysis Department results. It estimates the real United States. GDP is a fixed base year annual rate. Imports and international sales from American businesses and people are exempt.

GDP reflects the degree to which the economy generates production. Global warming is not generated and not part of GDP. The effect of environmental damage is not measured accurately. The loss should not be included in GDP and the calculation of environmental damage has not been accepted.

A customer has $24,000 to invest in mutual fund shares. The registered representative advises the customer to invest $8,000 on ABCD fund; $8,000 in DEFF fund; and $8,000 in XYZZ fund; to give the customer complete diversification and reduce risk. These 3 funds all have different sponsors. This action is:________ A) appropriate for the customer B) a violation known as a breakpoint sale C) a violation known as spinning D) a violation known as interpositioning

Answers

Option B

This action is: a violation known as a breakpoint sale

Explanation:

Dividing consumer buying amounts will refuse the buyer the profit of the breakpoint. This is a crime recognized as a breakpoint sale. The whole amount should be spent in one fund or one fund family to provide the consumer with the most economical feasible sales cost. Since shared funds hold diversified responsibilities, the evidence that breaking the purchases additional raises diversification, and thus will decrease risk, is questionable. Mutual fund sales quantity refunds are possible when a client spends with a mutual fund family.

Final answer:

The recommended investment strategy of dividing funds among different mutual funds is known as diversification, which is appropriate and not a violation.

Explanation:

The action taken by the registered representative to diversify the customer's investment portfolio into three different mutual funds is appropriate for the customer. The purpose of doing this is to distribute the customer's investment in a broad range of funds, thereby reducing risk. This practice, known as diversification, is a common investment strategy to maximize returns and minimize risks. The options related to 'breakpoint sale', 'spinning', and 'interpositioning' are types of violations in the securities industry, which do not apply to this situation, as each of these terms involve unethical or illegal actions.

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Suppose the annual rate of inflation has been 3 percent during each of the last three years and that borrowers and lenders have come to expect this rate of inflation. If the inflation rate unexpectedly rises, __________.

Answers

Answer:

a.borrowers gain at the expense of lenders.

Explanation:

Suppose the annual rate of inflation has been 3 percent during each of the last three years and that borrowers and lenders have come to expect this rate of inflation. If the inflation rate unexpectedly rises, then borrowers gain at the expense of lenders.

As inflation increases, two things happen

1. The amount of interest paid to lenders technically becomes of smaller value and lenders are loosing while borrowers are paying lesser

2. As inflation sets in, wages are increased to compensate for inflation and since the borrower already owed money before the inflation occurred, now he or she has more money in his or her paycheck to pay off the debt.

"Rico's Grill, Inc. is solely owned by Rico Vito. Rico's Grill borrows $10,000 from a local bank to finance the purchase of a new range. The payments are to be made monthly over a two-year period. The bank"

Answers

Answer:

Need not make any special disclosure

Explanation:

The reason is that it is not a parent-subsidiary transaction which means if the group as a whole trade with each other then they must add a special disclosure in the financial statement otherwise it must be neglected. The company must not specially disclose small borrowings from the lenders when it is presenting that figure in the financial statement borrowing figures. If the transaction is between the group or the borrowings are prominent it must be disclosed separately in the note to financial statement.

Bellbird Corporation acquired an 80% interest in Honey Inc for $130,000 on January 1, 2014, when Honey had Capital Stock of $125,000 and Retained Earnings of $25,000. Bellbird's separate income statement and a consolidated income statement for Bellbird Corporation and Subsidiary as of December 31, 2014, are shown below.
Bellbird Consolidated
Sales revenue $150,000 $235,750
Income from Corporal 12,600
Cost of sales (60,000) (100, 000)
Other expenses (20,000) (50,000)
Noncontrolling interest income ( (3,150)
Net income $81,600 $81,600
Honey's separate income statement must have reported net income of:__________________.

Answers

Answer:

$15,750

Explanation:

The computation of the net income reported by two methods is shown below:

= Income from Corporal + Non-controlling interest income

= $12,600 + $3,150

= $15,750

Or we can one thing also

= Income from Corporal ÷ acquiring percentage

= $12,600 ÷ 80%

= $15,750

All other information that is mentioned in the question is not relevant. Hence, ignored it

Melrose Company has an investment in bonds issued by Roscoe Industries that are classified as available-for-sale securities. The bonds were purchased at par. On December 31, Year 2, the Investment in Roscoe bonds account had a debit balance of $200,000, representing its amortized cost, and its Fair value adjustment account had a credit balance of $5,000. On December 31, Year 3, the amortized cost of those bonds had not changed, but the fair value of those bonds was $225,000. Which of the following will be included in the related journal entry dated December 31, Year 3?
a. Debit to Fair value adjustment for $20,000
b.Credit to Fair value adjustment for $20,000
c. Debit to Fair value adjustment for $30,000
d. Credit to Fair value adjustment for $30,000

Answers

Answer:

c. Debit to Fair value adjustment for $30,000

Explanation:

The first step of accounting process is Journal entry and it is made to record the transactions for process of book keeping, it defines the accounts involved and effects of  transactions on the account by debit or credit.

As the bond price is amortized earlier by 5,000 then its net realizable value was $195,000 ( $200,000 - $5,000 ). on December 31, year 3 the fair value adjusted to $225,000. so the adjusted value will be $30,000 ( $225,000 - $195,000 ). The journal entry is as follow  

                                                                    Dr.               Cr.

Dec 31, year 3

Fair value adjustment account              30000

Unrealized gain on available for sale securities        30000

Final answer:

The correct journal entry for the fair value adjustment on December 31, Year 3, is a credit to Fair value adjustment for $20,000, reflecting the increase in the fair value of the bonds from the end of Year 2 to the end of Year 3.

Explanation:

The question pertains to adjusting the journal entry for the fair value change of available-for-sale securities at the end of the year. Since the amortized cost of the bonds did not change and remains at $200,000, and the fair value at the end of Year 3 is $225,000, the increase in fair value from the previous year-end is $25,000 ($225,000 - $200,000). At the end of Year 2, the fair value adjustment account had a credit balance of $5,000. To adjust this to the new fair value, an additional $20,000 (the difference between $25,000 and the existing $5,000 credit balance) must be recognized.

A credit entry to increase the fair value adjustment account by $20,000 will reflect the increased fair value of the bonds at the end of Year 3. The journal entry on December 31, Year 3, includes a credit to Fair value adjustment for $20,000, representing the increased fair value of the investment since it must equal the cumulative change from the amortized cost to the fair value.

Why is it essential to differentiate between real and nominal growth rates of​ GDP? A. The nominal growth rate is more informative than the real growth rate since it is broader in the sense that it captures both price and output changes. B. The nominal growth rate combines the effect of price changes along with changes in the production of goods and services and thus gives a less clear indication of the impact on living standards. C. It is the real growth rate that is meaningful since it indicates the change in the production of goods and​ services, a very significant source of improved living standards. D. All of the above. E. B and C only

Answers

Answer:

B.

Explanation:

The main reason as to why it is essential to differentiate these two is that the nominal growth rate combines the effect of price changes along with changes in the production of goods and services and thus gives a less clear indication of the impact on living standards. While the real growth rate measures economic growth in relations to the GDP in different periods, and expressed in real terms, and since it is divided by the population it means that in order to sustain a standard of living it needs to increase at a rate faster than the population.

James Hughes worked for Medtronic, Inc., a medical technology company, as a sales manager. His contract with Medtronic had a non-compete clause that prohibited him from working for a competitor for one year after leaving Medtronic. St. Jude Medical, S.C., Inc., was a competitor of Medtronic. In an effort to expand their business, St. Jude contacted Hughes about joining them. Hughes felt dissatisfied with conditions at Medtronic, and so began negotiations with St. Jude. Hughes shared his current contract with St. Jude's executives, who told him that his contract with Medtronic was unenforceable and offered him a job as a sales director at a significant higher salary. In fact, the contract was enforceable under state law. Hughes accepted the job offer from St. Jude. Medtronic filed a suit against St. Jude, alleging wrongful interference. Did wrongful interference occur and if so, which type of wrongful interference occurred?1. There is a contract between two parties/ One party is seeking a greater market share for their product/ A third party knows the contract existsone party is targeting the others' customers/ A third party is inducing another to break a contract.
2. There is a contract between two parties/ One party is seeking a greater market share for their product/ A third party knows the contract existsone party is targeting the others' customers/ A third party is inducing another to break a contract.
3. There is a contract between two parties/ One party is seeking a greater market share for their product/ A third party knows the contract existsone party is targeting the others' customers/ A third party is inducing another to break a contract). Medtronic is suing for wrongful interference with a _______.
4. Who are the parties to the initial contract?5. _____is the third party who knew about the contract.
6. St. Jude learned about the contract and noncompete clause between Hughes and Medtronic from _____.
7. It is _____that St. Jude intentionally induced Hughes to breach his contract with Medtronic.
8. St. Jude ______before he left Medtronic.
9. What did St. Jude represent regarding the noncompete clause? That it ____enforceable.
10. Was the noncompete clause enforceable? 11. Did it matter if the clause was unenforceable? 12. Based on these facts, does it appear that St. Jude intentionally induced Hughes to break his contract with Medtronic?
13. Is Hughes liable for intentional interference with a contract?
15. Hughes is _______to be held liable for breach of contract.
16. If St. Jude had informed Hughes that the noncompete clause was enforceable and Hughes still left to come to work for them, would St. Jude be liable for intentional interference with a contract?

Answers

Answer:

YES

Because by definition, wrongful interference occurs when one person intentionally damages someone else's contractual or business relationships with a third party causing economic harm

Explanation:

Did wrongful interference occur and if so, which type of wrongful interference occurred?

YES

Because by definition, wrongful interference occurs when one person intentionally damages someone else's contractual or business relationships with a third party causing economic harm

1. There is a contract between two parties/ One party is seeking a greater market share for their product/ A third party knows the contract exists one party is targeting the others' customers/ A third party is inducing another to break a contract.

2. There is a contract between two parties/ One party is seeking a greater market share for their product/ A third party knows the contract exists one party is targeting the others' customers/ A third party is inducing another to break a contract.

3. There is a contract between two parties/ One party is seeking a greater market share for their product/ A third party knows the contract existsone party is targeting the others' customers/ A third party is inducing another to break a contract).

Medtronic is suing for wrongful interference with a contractual business relationship.

4. Who are the parties to the initial contract? Medtronic and James Hughes

5. St. Jude Medical, S.C., Inc is the third party who knew about the contract.

6. St. Jude learned about the contract and noncompete clause between Hughes and Medtronic from James Hughes.

7. It is true that St. Jude intentionally induced Hughes to breach his contract with Medtronic.

8. St. Jude offered James Hughes a job as a sales director at a significant higher salary before he left Medtronic.

9. What did St. Jude represent regarding the non compete clause? That it was not enforceable.

10. Was the noncompete clause enforceable? YES

11. Did it matter if the clause was unenforceable? YES

12. Based on these facts, does it appear that St. Jude intentionally induced Hughes to break his contract with Medtronic?  YES

13. Is Hughes liable for intentional interference with a contract?  NO

15. Hughes is NOT to be held liable for breach of contract.

16. If St. Jude had informed Hughes that the noncompete clause was enforceable and Hughes still left to come to work for them, would St. Jude be liable for intentional interference with a contract? NO

Which "Quality of Product" dimension would you be assessing when asking the question, "For any dimension that cannot be observed directly, does the product seem like a high-quality product?"

Answers

Perception is the  "Quality of Product" dimension that would ask the question,"For any dimension that cannot be observed directly, does the product seem like a high-quality product?"

Explanation:

The quality of any product or service is very important for any firm to get success. The dimensions of quality helps in the determination of the quality of any product or services. It considers many aspects in determining the quality of any goods or services. These includes, Performance, conformance, reliability, features, durability, aesthetics, serviceability and perception.

When we become aware of some products of services with the help of our senses refers to the term perception. It can be sensed either with the helps of  the words that we hear about any product or how we see a product, etc. Thus it is the perception, a dimension of quality that can not be observed.

Final answer:

The question aims to assess the 'entirely subjective' dimension of product quality, which is based on personal experiences and feelings of customers about the product.

Explanation:Assessing Product Quality

When asking the question, "For any dimension that cannot be observed directly, does the product seem like a high-quality product?", you are assessing a dimension of product quality that is entirely subjective. This assessment does not rely on objective measures or technical specifications but on the personal feelings and experiences of the customer. The quality of a product is ultimately determined by the customer, based on their experience with it and in comparison to their requirements, which may be stated or only sensed. Factors that contribute to this view of quality include whether the customer finds the product technically operational and if the product aligns with their personal determination of quality, which can be fluid and change over time.

It is important to remember that the assessment of quality is not a technocratic exercise, but rather an evaluation that takes into consideration the customer's feedback, expectations, and experiences. Companies must continuously solicit and react to customer feedback to effectively deliver products that meet changing customer needs. Therefore, understanding the entirely subjective aspect of product quality is crucial for ensuring customer satisfaction and the product's success in the market.

You are assigned to resolve a conflict between two departments of an organization. Both parties have equal power. Both parties are under time pressure to resolve the conflict. You also realize that the parties lack trust/openness for problem solving. You are actively searching for a middle ground between the interests of the two parties. Which of the following conflict resolution styles would you use in this situation

Answers

Answer:

Compromising

Explanation:

Compromising in problem solving looks for an expedient and mutually acceptable solution which is partially satisfactory to both parties engaged in the conflict.

The choice of Compromise becomes appropriate: When the goals are moderately important and not worth the use of more assertive or more involved approaches, such as forcing or collaborating.

In the scenario it is stated that ''You are actively searching for a middle ground between the interests of the two parties.'' hence such middle ground presupposes compromise as the preferred strategy for the conflict resolution.

Grande Floors, Inc., and Home Decor Stores enter into a contract for a sale of carpeting. Grande Floors, a merchant who deals in goods of the kind sold, makes express warranties in connection with the sale. Under the UCC, at the time a contract is formed, an express warranty can be disclaimed or modified​


a. ​in any way that the seller sees fit for the ordinary purpose.

b. ​in no way.

c. ​by clear, conspicuous language called to the buyer's attention.

d. ​by implied affirmations of fact relating to the goods.

Answers

Answer:

The correct answer is c. ​by clear, conspicuous language called to the buyer's attention.

Explanation:

The express guarantee is defined as a promise that the seller makes to the buyer about a good in the process of being sold, that is, some change in the conditions agreed upon initially. This process must be done clearly and concisely so that it is easily understood and the conditions that benefit both are offered.

Final answer:

An express warranty by Grande Floors, Inc. can be disclaimed or modified under the UCC; however, it is required to be done through clear and conspicuous language that is presented to Home Decor Stores. State laws may impose further limitations on disclaimers and modifications of warranties.

Explanation:

Understanding Express Warranty Disclaimers Under the UCC

Under the Uniform Commercial Code (UCC), when Grande Floors, Inc., and Home Decor Stores enter into a contract for the sale of carpeting, Grande Floors can provide express warranties to reassure the buyers of the product's quality. However, the question at hand is whether an express warranty can be disclaimed or modified at the time a contract is formed. According to the UCC, express warranties can be modified or disclaimed, but this must be done through 'clear, conspicuous language' that is brought to the attention of the buyer.

Guarantees, warranties, and service contracts assure buyers that the seller stands behind their products. While most sellers seek to maintain strong warranties, the UCC allows for modifications or disclaimers, as long as they are communicated effectively to the buyer using clear language and are prominent enough to ensure the buyer is aware of them before the purchase. It is noteworthy, however, that some state laws may set specific limitations on the ability to disclaim or limit warranties.

Shirley Macuga is the world’s fastest typist and is also a world famous brain surgeon. She earns $5,000/hour operating on brains. Shirley can type her bills for a whole month’s worth of surgery in 30 minutes and yet Shirley hires a billing clerk to complete the surgery bills. The clerk requires all month to type the bills. The clerk is paid $2,000 per month. Is Shirley smart to hire the billing clerk? Why or why not?

Answers

Answer:

Yes

Explanation:

30 mins of typing would have an opportunity cost of $2500 of surgery

She's paying $2000 and earning $2500.

So she is smart

The quantity supplied is the:
a. incremental cost of producing one more unit of output, holding all other things constant.
b. change in the sellers' output multiplied by the change in price.
c. amount of a good that firms are willing and able to sell at a particular price during a given period of time.
d. amount of inputs that a firm earns profit on.

Answers

Answer:

c. amount of a good that firms are willing and able to sell at a particular price during a given period of time.

Explanation:

Quantity of any goods that a business is willing to sell at a particular price during a given time period is called Quantity supplied. For Example when the price of an apple $1 the quantity supplied is 200 apples a week. if the price falls to $0.85 per apple the quantity supplies will fall to 150 apples a week. So, Quantity supplied at $1 is 200 apples and at $0.85 is 150 apples per week.

Corporate-level strategies are strategies a firm uses to diversify its operations from a single business competing in a single market into several product markets and, most commonly, into several businesses. T/F

Answers

Answer:

The correct answer is False.

Explanation:

The business strategy is the plan devised by management at the start of each new project to direct staff, carry out tasks, fulfill commitments and achieve set objectives. Simply put, business strategy sets the tone and defines the future of any organization. The success of companies depends on its design, execution and evaluation.

The 80/20 principle holds that 20 percent of all customers generate 80 percent of the demand. Although the percentages usually are not exact, the general idea often holds true. Which consumer market segment is described here?A. Benefit segmentationB. Geographic segmentationC. Market segmentationD. Usage-rate segmentation

Answers

Answer: usage-rate segmentation

Explanation: Usage-rate segmentation divides a market by the quantity of product bought or consumed. The 80/20 principle holds that 20 percent of all customers generate 80 percent of the demand.

Manufacturing costs that cannot be classified as either direct materials or direct labor are known as

Answers

Answer:

Manufacturing overhead

Explanation:

Manufacturing overhead -

It refers to the all the indirect cost , which is sustained during the phase of production , is referred to as manufacturing overhead .

The manufacturing overhead is independent of the administrative and selling functions of the business .

Therefore , bad debt , legal fees and corporate salaries is not counted in the manufacturing overhead .

It is hence , it is not categorized into direct labor or direct material , as these cost are directly applied to the unit of production .  

Hence , from the given statement of the question ,

The correct answer is Manufacturing overhead .

Final answer:

The costs in manufacturing that cannot be classified as either direct materials or direct labor are known as overhead or indirect costs. They are part of fixed costs and encompass factory rent, machinery cost, R&D, and advertising expenses.

Explanation:

Manufacturing costs that cannot be classified as either direct materials or direct labor are commonly known as overhead or indirect costs. This category is different from direct costs, which can be directly attributed to a product's production like raw materials and labor. Conversely, overhead costs are related to the entire operation, not singular products, and they cannot be distinctly allocated to a specific unit of output. Examples include rent on a factory, cost of machinery, research and development costs, and advertising expenses. These costs do not change with the level of production and are hence often referred to as fixed costs.

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Mandy and Jeff have a net worth of $25,000 and total assets of $140,000. If their revolving credit and unpaid bills total $2,200, what are their total liabilities

Answers

Answer:

A. $115,000

Explanation:

Given that

Total asset = 140,000

Net worth = 25000

Recall that

Net worth = Total asset - total liabilities

Therefore,

Total liabilities = Total asset - Networth

Thus,

Total liabilities = 140000 - 25000

= $ 115,000

Therefore, total liabilities = $115,000

Note that, total liabilities is the total debt and financial obligations owed by a business to individuals or organizations during a specific period of time. The 2,200 is not useful in calculating because it's already accounted for in the 115,000.

Victoria is a marketing manager. A large part of her role is trying to assess what customers want and building long-term relationships with customers. What would likely complicate Victoria's job?

Answers

Answer:

trends, fashions, and tastes can change quickly.

Explanation:

Based on the information provided within the question it can be said that in a job role like the one that Victoria is in, the biggest complication is that trends, fashions, and tastes can change quickly. Due to the large impact that celebrities have on the world, one comment or action can immediately spark new trends and fashion senses around the world. This makes trying to predict the wants of customers very hard.

If Arturo and Dina switch from each person dividing their time equally between the production of tacos and burritos to each person spending all of their time producing the good in which they have a comparative advantage, then total production of burritos will increase by:

Answers

Answer:

100

Explanation:

If Arturo and Dina switch from each person dividing their time equally between the production of tacos and burritos to each person spending all of their time producing the good in which they have a comparative advantage, then total production of burritos will increase by:

Now we can see from the graph that Arturo can make 300 burritos and 400 tacos and Dina can make 200 burritos and 400 tacos.

Total current burritos = 300 + 200 = 500

Given that each person is currently dividing their time equally between the production of tacos and burritos

It reveals that Arturo has a comparative advantage in production of Burritos because he produces more that Dina with the available resources of time.

Hence if they are to switch to each person spending all of their time producing the good in which they have a comparative advantage, then total production of burritos will increase by: 100 because Arturo will produce 600 burritos with the other half of his time he has been spending on making tacos

Final answer:

Total production would increase when each person focuses on the production of the good they have a comparative advantage in. Using a similar scenario between Mexico and the United States, both countries were able to consume more goods after shifting production towards their own comparative advantage.

Explanation:

In the context of Arturo and Dina's taco and burrito production, it's important to note that total production would only increase if the individual focusing on burrito production has a comparative advantage in making burritos, and the individual focusing on taco production has a comparative advantage in making tacos.

Let's use a similar example with Mexico and the United States producing shoes and refrigerators. Mexico started out, before specialization and trade, producing 4,000 pairs of shoes and 5,000 refrigerators. Then, when it shifted production toward its comparative advantage, it produced 6,000 pairs of shoes but only 2,500 refrigerators. Thus, by giving up 2,000 pairs of shoes in exchange for imports of at least 2,500 refrigerators, Mexico was able to consume more of both goods than before trade.

The same happened in the United States, which started off producing 5,000 pairs of shoes and 20,000 refrigerators. After shifting production towards its comparative advantage, the United States produced only 3,500 shoes but 26,000 refrigerators. The United States was able to consume more of both goods also and was unambiguously better off.

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In the last decade or so, there has been a dramatic expansion of small retail convenience stores (such as 7-Eleven, Kwik Shop, and Circle K), although their prices are generally much higher than prices in large supermarkets. The success of these convenience stores can be partially explained by__________.

Answers

Answer:

yes                                                                                                                                                                                                                  

Explanation:

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Which of the following accounts allows full access to the system, while accessing other systems on the network? Local Admin account Local Service account Network Service account Local System account

Answers

Answer:

Local Service account

Explanation:

The option of the accounts that allows full access to the system, while accessing other systems on the network is the Local Service account.

The Local System account is a predefined local account that is accessed by the service control manager and It has extensive privileges on the local computer, and acts as the computer on the network.

Final answer:

The Local Admin account allows full access to the system and lets you access other systems on the network. Other accounts like Local Service, Network Service, and Local System have more restrictions. However, using the Local Admin account should be done cautiously due to the risk of system compromise.

Explanation:

The account that allows full access to the system while being able to access other systems on the network is the Local Admin account.

In fact, local admin accounts have privileges that allow access to every corner of the system they are governing, as well as permissions to access and intervene with other networked systems.

On the contrary, Local Service, Network Service, and Local System accounts have more restrictions and can't access resources over the network with the same level of permissions.

However, it's important to note that usage of the Local Admin account should be sparing and cautious due to the expansive reach and potential for damage if misused or compromised.

It's often advised for regular tasks to be performed under accounts with lesser permissions to limit unnecessary exposure to the system.

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True entrepreneurs: a.hire professional managers to run their businesses. b.are professional managers whose job is running someone else’s business. c.undergo the process of planning and operating a business venture. d.assume less-than-total personal risk for the success or failure of the business.

Answers

Answer:

c.undergo the process of planning and operating a business venture

Explanation:

The definition of an entrepreneur is someone who seeks a market opportunity, and once it is found, starts a business with the goal of exploiting that market opportunity, investing capital and labor and incurring in financial risks, with the goal of obtaining a profit.

In other words, a true entrepreneur has to plan the way the business will be set up, including planning for capital, labor, and land costs. After the business is started, a true entrepreneur becomes the primary manager, which means that the operation of the business falls under his responsability.

True or False: The idea that healthcare is a human right, and thus should be available to everyone regardless of ability to pay, aligns with the ideals of market justice.

Answers

Answer:

True

Explanation:

Medical care is regarded as a basic right; all citizens have equal access to medical care; and ability to pay is inconsequential. Health care delivery in the United States is characterized as a quasi- or imperfect market. Hence, we find elements of market justice,

Market justice portrays health care as an economic good delivered under free-market conditions. It assumes that markets are more efficient in allocating health resources equitably

Answer: True

Explanation: Understanding health as a human right creates a legal obligation on states to ensure access to timely, acceptable, and affordable health care of appropriate quality and as well providing for the underlying determinants of health, such as safe and potable water, sanitation, food, housing, health-related information and education, and gender equality. Right to health must be enjoyed without discrimination on the grounds of race, age, ethnicity or any other status. Among all the rights to which we are entitled, health care may be the most intersectional and crucial.

Individual resources and choices determine the distribution of health care, with little sense of collective obligation or a role for government. Known as market justice, this approach derives from principles of individualism, self-interest, personal effort, and voluntary behavior. While contrasting approach, which is social justice, allocates goods and services according to the individual's needs.

Eric's income increased from $40,000 to $50,000 per year. Eric's consumption of tickets to pro football games increased from two to four per year. By the midpoint formula, his income elasticity of demand for pro football game tickets is equal to _____, and football game tickets are _____ goods. –3; inferior –0.33; inferior +0.67; normal +3; normal

Answers

Answer:

By the midpoint formula, his income elasticity of demand for pro football game tickets is equal to +3, and football game tickets are normal goods.

Explanation:

The formula for calculating income elasticity of demand using the midpoint method is:

income elasticity of demand = {change in quantity demanded / [(old quantity + new quantity) / 2]} / {change in income / [(old income + new income) / 2]}

= {2 / [(2 + 4) / 2]} / {10,000 / [(40,000 + 50,000) / 2]} = (2 / 3) / (10,000 / 45,000) = 0.67 / 0.222 = 3

when the income elasticity of demand is higher than 1, the goods are normal goods.

A test was administered to a group of students the morning after homecoming. Several of the students appeared tired and some were coughing and sneezing. These factors may result in what type of error:

Answers

Answer:

test-taker variables error

Explanation:

The students are the test takers and the fact that many of them are not in the best possible health or physical condition can result in a higher percentage of mistakes that are not necessarily related to them not knowing the correct answers, but since they are either so tired or so sick, they might not be thinking clearly or may not be trying hard enough to answer the questions.

This can happen to all of us, if we are really sick, it is very difficult to take a test. Your head hurts and you really are more worried about how bad yo feel than taking the test.

Final answer:

The factors mentioned in the question, such as tiredness, coughing, and sneezing in the group of students, may result in a Type II error when administering a test.

Explanation:

The factors mentioned in the question, such as tiredness, coughing, and sneezing in the group of students, may result in a Type II error when administering a test.

Type II errors occur when the data fails to show a relationship between variables that actually exists. In this case, the students' physical symptoms may lead to a false conclusion that the test results are not affected by these factors when, in reality, they could be influencing the students' performance.

For example, if some students are sick and experiencing fatigue, it could affect their focus and concentration during the test, resulting in potentially lower scores. However, if the test does not consider these factors and the researcher concludes that there is no relationship between the students' condition and their test performance, it would be a Type II error.

Categories of expenditures Damell and Eleanor Cohen live in Swarthmore, PA. Their son, Jacques, owns his own plumbing business. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (1), government purchases (G), exports (X), or imports (M). 1. Transaction CLG X M Eleanor gets a new video camera made in the United States. 2. The state of Pennsylvania repaves Highway PA 320, which goes through the center of Swarthmore. 3. Darnell buys a sweater made in Guatemala 4. Darnell's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. 5. Jacques buys a new set of tools to use in his plumbing business 6. Grade k Now Save & Continue Continue without saving

Answers

Explanation:

The following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (1), government purchases (G), exports (X), or imports (M).

1. Transaction CLG X M Eleanor gets a new video camera made in the United States - Consumption

2. The state of Pennsylvania repaves Highway PA 320, which goes through the center of Swarthmore - Government Purchase

3. Darnell buys a sweater made in Guatemala - Consumption  & Imports

4. Darnell's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China - Exports

5. Jacques buys a new set of tools to use in his plumbing business - Investment

Knelling Company reported a balance in Accounts Receivable of $50,000 and a credit balance of $3,000 in the Allowance for Doubtful Accounts. The company’s aging of accounts receivable determined $12,000 to be uncollectible. Prepare the end-of-period adjusting entry to record bad debit expence.

Answers

Answer:

Bad Debt A/c Dr  $9,000

To Credit Allowance for Bad & Doubtful  A/c    $9,000

Explanation:

According to the scenario, the given data are as follows:

Accounts receivable = $50,000

Credit balance in Allowance for doubtful A/c = $3,000

Uncollectible Amount = $12,000

So, Bad debts = Uncollectible Amount - Credit balance in Allowance for doubtful A/c

= $12,000 - $3,000

= $9,000

So, the journal entry are given below:

Bad Debt A/c Dr  $9,000

To Credit Allowance for Bad & Doubtful  A/c    $9,000

(Being the Bad debt A/c is recorded)

Anchorage Marina in Bay Harbor sponsors a fishing tournament that the crew of the Chimera enters. The prizes include cash and discount certificates for nautical equipment. Under the principles discussed in "A Sample Court Case," Fehr v. Algard, the offer of a prize in a contest is
A. a binding contract in favor of a contestant who complies by the rules.
B. a duty to be obeyed that is defined by the risk perceived.
C. an equitable remedy that a modern trial court may or may not grant.
D. a wager in favor of its offeror that is unenforceable at law.

Answers

Answer:

A) a binding contract in favor of a contestant who complies by the rules.

Explanation:

In Fehr v. Algard, a contestant (Edward Fehr) cheated on a fishing contest by trying to include bad fish (or day old fish caught elsewhere) in the final weigh-in of the contest. He was disqualified by the judges and then he sued because the tournament's rule didn't expressly forbid cheating.

The Supreme Court of New Jersey ruled against the plaintiff and established that the good faith of the contestants was implied in the tournament's rules.  

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