Answer:
Marginal Thinking
Explanation:
The economic principle of marginal thinking means that rational people (people who act in a way that maximizes their personal well-being) think and take decisions at the margin.
From the concept of marginal thinking, we derive concepts such as marginal utility, which is the extra benefit that a person obtains from the consumption of one extra unit of a good, and marginal cost, which is the extra cost a person must pay from the consumption of one more unit of a good.
If the marginal cost is higher than the marginal benefit, a rational person decides not to consume the good.
Marie is affected by marginal utility and marginal cost because while she considers that three bananas for $0.25 is a deal that benefits her, a fourth banana would represent a marginal utility that is less than the marginal cost, thus, she decides not to buy the fourth banana.
During the final stage of developing and implementing a company strategy, what factors often cause the company to adjust its objectives or mission statement?
Answer:
- technology forces in strategic management
-change in executive management
-competition from other businesses
-transformation in organizational structure.
Explanation:
-company can Change strategy due to availability or lack of adequate technological capabilities.
- reshuffling board of directors can lead to change in objectives due to change of views by director.
-anticipated competition from target market can facilitate review of objective in other to induce competitive advantage.
- additional structural transformation such as mergers and expansion to some other market can necessitate adjustment of objective to realign the mission of organization.
Which common saying best captures the concept of incentives (specifically, positive and negative incentives), which is one of the foundations of economics?
Answer:
If the carrot doesn't work, try the stick.
Explanation:
This phrase clearly describes how advertising and promotions work:
If the carrot doesn't work: the tempting carrot refers to advertisement, and the doesn't work part refers to advertisement that is not able to change consumer habits and increase sales.
Try the stick refers to offering promotions or positive incentives like discounts or larger packs.
Another example would be the penalty imposed on individuals that refused to purchase health care insurance (eliminated in 2018). The carrot were the benefits obtained by having health insurance and the stick was the negative incentive (or penalty) imposed as a fine for those who didn't purchase health insurance.
Suppose the state of Florida passes a law that increases the tax on alcoholic beverages. As a result, resi-dents in Florida start purchasing their alcohol in surrounding states. Which of the following principles does this best illustrate?
Answer:
Residents (people's) reaction to Incentives
Explanation:
An incentive represents something, an action or a law that causes people to act or change their behaviour about something at a particular time. Basically, incentives work by making rewards available to individuals who change their behaviour on a targeted issue.
Usually, since people rationally compare the costs and benefits of their actions, incentives gives them the opportunity to raise their perception of this costs and benefits and also induces them to respond.
Florida increases the tax on alcoholic beverages, the people still see the benefits of taking alcohol but not at the increased, the reaction therefore, is to purchase in surrounding states where they are still cheaper without a tax increase.
It should be noted from the Florida example that the reaction of people to incentives can both be negative and positive. This example shows a negative response as a result of raised costs when compared with benefits.
The owner of ProPhone has charted the company's marginal revenue and marginal cost for its latest line of smartphones, the Blazer. Use the chart to calculate the company's profit. If ProPhone sells four phones, the company will.
Answer:
make some profit
Explanation:
if ProPhone sells 4 blazer phones, its marginal revenue = $120, while its marginal cost = $50
That means that the company is making some profit.
total revenue = $600their total costs = $340net profit = $260In order for the company to maximize its profits, their marginal revenue = marginal cost.
A supportive style of communication in which the sender expresses a willingness to consider the other person's position is called _________________.
a. control
b. provisionalism
c. problem orientation
d. empathy
e. neutrality
Explanation:
This involves acknowledging other point of view and willingness to listen and consider. So Provisional communication is the right answer.
Control communication:
Control over the entire process so that the expectation of the customer are satisfied.
Problem orientation:
Focused mainly on solving issue rather than finding reason behind.
Empathy:
Communicating ideas such that others understand it better.
Neutrality:
Communication will be threatening to the listener.
A local computer manufacturer hires an additional worker and pays $10.00 per hour for an 8-hour day. The worker is capable of assembling 3 computers an hour. The firm sells each computer for $1,500. What is the marginal physical product of this worker?
Answer: 3 computers per hour
Explanation: Marginal physical product is the extra output produced by increasing a unit of the variable input keeping other factors constant.
It could simply be explained as the contribution of the additional variable factor to the total production.
Here, hiring an additional worker who his capable of assembling 3 computers per hour means a plus 3 increase in total production per hour.
The part of the money supply produced by the private banking system is called by the government or central bank is called?
Open Market Operation is the system in which the Central Bank supply money to the private banks.
Explanation:
The Reserve bank buy as well as sale the government securities so that it can control money supply. By selling and buying securities in a free market the amount of money is either expanded or contracted.
During inflation the price of the product rises , at that time the Reserve Bank purchase the securities so that money is not spend but in the other hand during deflation there is fall in the price as a result the Reserve Bank sale the securities so that purchase can be done.
When Jamie's business was doing well he attributed the success to his leadership skills, creativity, and dedication. When the business started experiencing a fall in revenue, he blamed it on the declining economy and political instability. In this scenario, Jamie's behavior best illustrates:
a. stereotyping tendency.
b. fundamental attribution error.
c. self-serving bias.
d. primacy error.
Answer:
The correct answer is C
Explanation:
Self serving bias is the term which is described as the tendency of the people in order to attribute the positive events to their own character but also attribute the negative events to the external factors.
Therefore, the business of the Jamie was doing well, he attributed the success to his creativity, dedication and leadership skills but when the business experience the fall in the revenue then he blamed the economy, this behavior is illustrates with the self serving bias.
The correct option is c. self-serving bias.
Self-serving bias is a cognitive bias that causes people to attribute their successes to internal factors such as their own skills, dedication, and effort, while attributing their failures to external factors such as the economy or political instability. This bias is evident in Jamie's behavior as he takes personal credit for the success of his business during good times but blames external factors when facing setbacks.
Let's examine the other options to understand why they are not the correct choices:
a. Stereotyping tendency: This is the act of making generalizations about a group of people without considering individual differences. Jamie's behavior does not reflect stereotyping as he is not making judgments about a group of people but rather attributing causes to his business's performance.
b. Fundamental attribution error: This error occurs when individuals overemphasize personal characteristics and ignore situational factors when judging others' behavior. In Jamie's case, he is judging his own behavior, not others', so this error does not apply.
d. Primacy error: This error involves giving undue importance to the first piece of information encountered. It is not related to attributing success or failure, but rather to the order in which information is received. Jamie's behavior does not demonstrate a focus on initial information but rather a pattern of attribution for success and failure.
Therefore, the self-serving bias is the most accurate description of Jamie's behavior in this scenario.
When bonds have been issued at a premium, the periodic amortization of the premium will A) increase the carrying value of the bonds. B) have no effect on the carrying value of the bonds. C) decrease the carrying value of the bonds. D) cause the carrying value always to equal the face value of the bonds ) None of the above accunulated depreciation of $60, 000 in the Bagley rship
Answer:
C) decrease the carrying value of the bonds.
Explanation:
We calculate the bond premium by subtracting the face value of the bond from the paid amount for it. Then, we have to figure out how many months are left before the bond matures and divide the bond premium by the number of months remaining and this tells us how much to amortize on a monthly basis.
Bill has $10 to spend on a Superman, Batman, or an X-Men T-shirt. Bill buys the Superman T-shirt and the Batman shirt was a close second choice. What is the opportunity cost?
Answer:
Opportunity Cost = Batman Shirt
Explanation:
Opportunity Cost is the coat of next best alternative forgone while making a choice.
Eg: Working as a teacher with salary Rs 20000, if a teacher sacrifises private coaching income = Rs 15000. Latter (Rs 15000) is the next best alternative forgone while choosing school teaching.
Similarly, Bill choosing Superman T-shirt has opportunity cost as value of his second best choice foregone i.e Batman T-shirt
Answer:
Bill sucks Batman is better than al of those other options
Explanation:
Green technologies such as smart grid electricity services, online energy management, and consumer-generated energy are __________ forces that would be identified through an environmental scan.Question options:1. social2. competitive3. regulatory4. technological5. economic
Answer:
4. technological
Explanation:
Technological forces are such forces which influence the technological developments on consumers, businesses, and society in general. Technological forces can improve better communication and management information systems. Therefore, when we scan the environment, we can find online energy management and consumer-generated energy. Therefore, D is the correct answer.
A six-month, 180-day CD offers an annualized interest rate of 1.10% and requires a minimum deposit of $25,000. What is the amount of interest that will be earned on this investment?
Answer:
$135.63
Explanation:
Data provided in the question:
Time = 180 days
Time in years = 180 ÷ 365 = 0.4932 years
Amount deposited = $25,000
Annual Interest rate = 1.10% = 0.011
Now,
Interest = Amount deposited × Rate × Time
or
Interest = $25,000 × 0.011 × 0.4932
or
Interest = $135.63
Hence,
The amount of interest earned is $135.63
To address the widespread and growing concern of contaminated food causing serious injury and death to individuals throughout the U.S., Congress passed a law stating that anyone intentionally distributing contaminated food is subject to criminal prosecution, civil fines, or both. Congress included a provision that any company with a corporate food-safety compliance policy approved by the FDA would avoid criminal prosecution, but not civil fines. To be approved, the company policy must require the company to report to the U.S. Food and Drug Administration any test results that indicate salmonella is present and consult with that agency before shipping any possibly contaminated food. 1. Using the Business Process Pragmatism procedure as part of his decision making process, Trevor first should perform to determine the legal and ethical issues related to implementing a corporate food safety compliance policy.
Answer:To put in place a corporate food safety compliance policy is the basic requirements for salvaging the consumers from poisoned food ,companies are required by total quality management to go beyond just avoid fines but to put the customer safety first and foremost of their business plan ,the BPP requires company to take the following steps inquiry,discussion,decision, justifications and evaluation.
Explanation:using the business process pragmatism methods the following steps will be taken
Inquiry:Trevor should make inquiry on what constitutes poisoning in food industry,this may require stakeholders meeting which must include expert quality control officers,industry experts,representative of the US food and drug administration,legal expert in the food industry etc,
Discussion :the forum will review the causeof food poisoning in the industry and how it affects the populace and how it can be checked or reduced or avoided.
Decision a decision acceptable to all stakeholders which has the best interest of the consumers should be reached with a clear plan of implementation , this should consider the legal aspect and at the same time the health of the population which it tends to make it's consumers .
Justifications:there should be enough justifications for any decision reached because the board and the shareholders are also stakeholders and need to be convinced as well that any decision taken will have their interest as well as the consumers at heart as well as protecting the brand .
Evaluation:this requires financial aspect and the other resources that may be required to be assess while the best workable should be adopted.
the headline of a news story is the most important part because it
A) always involves conflict
B) needs to grab the audience
C) will attract advertisers
D) must use precise grammar
Answer:
B.needs to grab the audience
When marginal cost is greater than average cost, an increase in output up arrow average cost. When marginal cost is less than average cost, an increase in output ▼ up arrow down arrow average cost.
Answer:
MC > AC : AC rise ; MC < AC : AC fall ; MC = AC : AC minimum .
Explanation:
Marginal Cost MC is addition to total cost with an additional production.
∆C/∆Q
Average Cost AC is average cost per unit of production output. C / Q
Relationship between AC & TC : Average move in direction of Marginal .
MC > AC : AC rises
MC < AC : AC falls
MC = AC : AC is minimum
Which of the following would NOT be an operations function in a commercial bank? Group of answer choices
1. teller scheduling
2. check clearing collection
3. auditing
4. maintenance
Among the following, maintenance is not an operations function in a commercial bank. Thus, option '4' is the correct option,
What are the operations function in a commercial bank?The general public, including both private citizens and small to medium-sized enterprises, is served by commercial banks' fundamental banking services and products. Checking and savings accounts, loans and mortgages, fundamental investment options like CDs, as well as additional services like safe deposit boxes, are among the services offered.
Fees and service charges are how banks are paid. These costs range from account fees (monthly maintenance fees, minimum balance fees, overdraft fees, non-sufficient funds (NSF) penalties), safe deposit box fees, and late fees, depending on the goods. In addition to interest costs, many loan packages also include other expenses. They use consumer deposits as collateral for loans. However, the interest rate that the bank pays on the money that they borrow is lower than the interest rate that is charged.
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"________ products are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style."
Answer: The correct answer is Shopping Products
Explanation: Shopping products are products that are not frequently requested and purchased. In purchasing these products, a consumer consciously weighs his options by comparing the suitability of the goods in meeting his needs.
The price and quality of the products are also determining factors for shopping products.
A client with atrial fibrillation is receiving a continuous heparin infusion at 1000 units/hour. The nurse determines that the client is receiving the therapeutic effect based on which results?a) Prothrombin time of 12.5 secondsb) Activated partial thromboplastin time of 60 secondsc) Activated partial thromboplastin time of 28 secondsd) Activated partial thromboplastin time longer than 120 secondsb) Activated partial thromboplastin time of 60 seconds
Answer:
Option B is correct
Explanation:
This is when an activator is added to speed up clotting time resulting in narrow reference range and is considered to be more sensitive to partial throboplastine time which is used to measure and monitor patients response to heparin therapy.
You deposit $10,000 in a bank and plan to keep it there for five years. The bank pays 8% annual interest compounded annually. Calculate the future value at the end of five years.
Answer:
$14,693.28
Explanation:
Data provided in the question:
Amount deposited in the bank = $10,000
Time for which it is kept, n = 5 years
Annual interest rate = 8% compounded annually = 0.08
Now,
The Future value using the formula for compounding is given as:
Future value = Amount deposited × ( 1 + rate )ⁿ
or
Future value = $10,000 × ( 1 + 0.08 )⁵
or
Future value = $10,000 × 1.4693280768
or
Future value = $14,693.28
Which of the following transactions would be recorded if using the accrual basis of accounting but not if using the cash basis of accounting?
a. Borrowing moneyb. Paying off loansc. Purchasing inventory on accountd. Collecting customer payments
Answer:
c. Purchasing inventory on account
Explanation:
Purchase of inventory on account is not to be recorded when cash basis of accounting is recorded...where as it is recorded when accrual basis of accounting is used.
________ firms are those that basically provide their owners a level of income similar to what they would be able to earn in a conventional job.
Answer: salary substitute firms
Explanation:
A salary substitute firm is a kind of small business that yield a level of income for their owner that is similar to what they would earn when working for an employer. Examples of salary substitute include small businesses such as hairdressing, restaurants, dry cleaning services etc. Majority of small businesses fit into this category.
Lyndon, a citizen of Maryland, obtains a federal license to operate a commercial fishing boat in a certain area off the Maryland coast. The Maryland state legislature enacts a law that bans all commercial fishing in that area. The state law most likely violates:_______.a) no provision in the U.S. Constitution.b) the commerce clause.c) the due process clause.d) the supremacy clause
Answer:
d) the supremacy clause
Explanation:
Lyndon a man from Maryland, receives a federal license to perform a commercial fishing boat in a particular region off the Maryland shore. Maryland's state legislature passes a law that bans all commercial fishing in that region. The state law most likely breaks the supremacy clause. In the supremacy clause, it authenticates that the federal laws made will be agreeable to it. Also, the agreements should be made under its authorization
The cyclical surplus is $450 billion, potential output is $10 trillion and tax rate is 15 percent. With this information, we can infer that the actual output of this economy is:________.
Answer:
$13 trillion.
Explanation:
The actual output of economy can be calculated using the following mentioned formula:
Cyclical deficit=tax rate in question(potential output - actual output)
-$450 billion=0.15($10 trillion-actual output)
-$450 billion=$1.5 trillion-0.15*actual output
0.15*actual output=$1.5 trillion+$450 billion
0.15*actual output=$1.95 trillion
Actual output=$13 trillion.
An office building has a potential gross income of $12,600 per year. The vacancy rate is 5% and the annual expenses are $3,600. What is the market value if the capitalization rate is 12%?
Answer:
The answer is $69750.00
Explanation
Calculation of market value using income approach is calculated as follows;
Value= Net operating income (NOI) /Cap rate
Net Operating Income (NOI) is potential rental income plus any additional property-related income minus vacancy losses minus total operating expenses.
Value= [12600 - (12600*0.05) - 3600] / 0.12
Value =$69759
The market value of the office building, with a 12% capitalization rate, is approximately $69,750, considering a potential gross income of $12,600, a 5% vacancy rate, and $3,600 in annual expenses.
To calculate the market value of an office building, you can use the income capitalization approach, which considers the potential gross income, expenses, and the capitalization rate. Here's the formula:
Market Value = Net Operating Income (NOI) / Capitalization Rate
First, we need to calculate the NOI:
Potential Gross Income (PGI) = $12,600 per year
Vacancy Rate = 5% (0.05)
Vacancy Loss = PGI * Vacancy Rate = $12,600 * 0.05 = $630 per year
Effective Gross Income (EGI) = PGI - Vacancy Loss = $12,600 - $630 = $11,970 per year
Annual Expenses = $3,600 per year
Net Operating Income (NOI) = EGI - Annual Expenses = $11,970 - $3,600 = $8,370 per year
Now, we can calculate the market value using the capitalization rate:
Capitalization Rate = 12% (0.12)
Market Value = NOI / Capitalization Rate
Market Value = $8,370 / 0.12
Market Value ≈ $69,750
So, the market value of the office building is approximately $69,750 if the capitalization rate is 12%.
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Which TWO of the following statements are TRUE when a broker-dealer executes a principal transaction?
Act as a broker
Act as a dealer
Charge a mark-up or a mark-down
Charge a commission
[A] I and III
[B] I and IV
[*C] II and III
[D] II and IV
Answer:
C) II and III
Act as a dealerCharge a mark-up or a mark-downExplanation:
Dealers can purchase and sell securities on their own accounts, this is called position trading. When they carry on this type of transactions, they charge markups instead of commissions.
Brokers act like agents, and they can only arrange a transaction between clients and they charge a commission for their work.
At a local university, students talk about being able to retake an exam three times as a way of showing how committed the school is to helping them learn.
Answer:
Is part of the local university culture which shows people's expectation.
Explanation:
These are cultural implications on the decision of giving three chances to retake exams. Cultural implications are much more prominent in the UK where companies have to respect the cultural values of people. If we study about UK constitution we will find that it is not in the written format. When the CEO of Sony (USA) was appointed who was from Japan their was a warm welcome in his office. But after a month there was a strike witnessed because the CEO used to make decisions with an attitude which was a culture in Japan but was unacceptable in USA.
When a T-shirt manufacturer states, "We sell it only in black because that way we can buy plenty of black fabric and run our plant efficiently," its statement reflects the views that were popular in which era of the evolution of marketing?a. production-oriented.b. sales-oriented.c. market-oriented.d. value-based marketing.e. economics-oriented.
Answer:
a. production-oriented.
Explanation:
The only consideration of the firm when deciding what to produce is how the plant can run efficiently. They don't consider cost or value of the good to consumers.
Thus, the firm is production-oriented.
I hope my answer helps you
Analyzing the difficulty, frequency, and importance of work activities associated with a particular job is a fundamental aspect of job design.
Answer:
The correct answer to the following question will be "Job Analysis".
Explanation:
Analyzing the complexity, pace and value of work related to a given job is a fundamental aspect of career research.
A task review is a tool used to gather information about a given job's tasks, obligations, required skills, expectations and work environment. Job Analysis assembles a job description, which is the daily performance consequence of the work-study, you want as much information as possible.Therefore, Job Analysis is the right answer.
Leticia is twentyminustwo years old and she has all of her savings in a Certificate of Deposit (CD) at the bank that currently pays an annual 1.5 percent yield. The account is protected by the FDIC so it is virtually risk free. She hopes to use her savings for a down payment on a new house in ten years. Inflation in house prices in her area has averaged 4 percent per year. What financial principle does she need to pay better attention to?
Answer:
There is direct relationship between risk and return, and there is time value of money.
Explanation:
Leticia must understand that there is direct relationship between risk and return. The higher the risk of an investment portfolio, the higher the return.
The rate of inflation in house property market price is quite higher than return receivable on her investment in CD.
In order to perfectly hedge against inflation in property price, there is a need for Leticia to invest now in a portfolio that is capable of given her at least 4% return on investment .
If a perfectly competitive firm can sell a bushel of soybeans for $25 and it has an average variable cost of $26 per bushel and the marginal cost is $26 per bushel, the firm should:
Answer:
Explanation:
The firm Should decrease the output.
Because as we see selling price P is LESS than Marginal Cost (MC) and in perfect competition P=MC for efficient allocation . So By decreasing output firm can decrease MC ⇒ which leads to output where P=MC.