Answer:
Correct option is Symbolic
Explanation:
Managers with symbolic view of management believes that success and failure of an organization is not completely in their control. There are external factors suppliers, creditors and customers that contribute to organizational success.
Managers who follow omnipotent view believes that they have full control over success and failure of the organization. Here, the middle-level managers have symbolic view of management.
Lucile, the head of a project, starts her presentation on the project by comparing each team member's work to that of a mountaineer climbing the highest peak in the world. In the given scenario, Lucile uses a(n) _____ to open her presentation.A. anecdote
B. startling statistic
C. simile
D. engaging question
Answer: Simile
Explanation: Simile is a figure of speech used for making comparison between two things with the aim of giving a more lucid, interesting or clearer meaning of the scenario. Simile expressions are used to compare one word with another using 'like' or 'as' to link both words together. In the question above, comparison is made by relating the work done by each team member to that of a mountaineer climbing the world highest peak.
I make $2,000/month. Of that the government takes $200 in taxes. Then I pay $1,000 for rent, $400 for food, and $200 in utilities. The remaining $200/month I have left is considered:________.
Answer:
My savings
Explanation:
Savings for a month is the amount left after deducting all my expenditure from my monthly income
Savings = income - total expenditure
income = $2,000
total expenditure = $200 + $1,000 + $400 + $200 = $1,800
Savings = $2,000 - $1,800 = $200
Liam, the art director at Impact Advertising, has decided to lay off a production assistant due to the loss of a major client. Which of the following will be the best way for Liam to convey his decision? A) meeting with a follow up memo b ) Leading c) Both D)none of these
Answer:
A) Meeting with a follow up memo
Explanation:
Whenever an employee is fired or laid off, such an information needs to be conveyed using a formal mode of communication.
In such cases, a meeting in private is called forth wherein the manager conveys the decision, citing brief and not lengthy explanation. The manager should not delve into intricacies, and rather state the exact reason.
Thereafter employee dues are paid off and the employee is discharged. Post which, the other employees and staff of the organization are informed of the decision via a follow up memo.
The general journal for Wells Tech includes the entry below. Based on the information in this entry, which of the following can you determine about the corresponding general ledger entries?
The rent expense of $650 was debited to account 500 and the cash paid was credited to account 600.
Which of the following journal entries is appropriate when a company receives payment in advance for goods or services?
Debit cash and credit a liability account or a revenue account.
Answer:
Debit cash and credit a liability account
Q:
Which of the following journal entries is appropriate when a company receives payment in advance for goods or services?
Explanation:
The company will dbeit the cash, as it is receiving it and cash is an asset account that increase from debit.
As the company receives the amount in advance, it assumes the obligation to perform in the future. This is the concept of a liability.
To be a revenue, it is required that the services or sale is performed. As the payment is before the sale or service it is not earned.
An investment strategy where a higher price is paid for a stock based upon expected returns is: A growth investing B value investing C conservative investing D passive investing
Answer: Growth investing
Explanation:
The growth investing is one of the type investing strategy that basically focuses on the increase in the capital of the investors and also growth of the stocks in the market.
The growth investing basically focuses on the capital appreciation and it increase the average rate of the industry sectors.
According to the given question, the investment strategy basically helps in the investing process where the higher price are paid for the stock that is basically based upon the expected returns.
Therefore, Growth investing is the correct answer.
The company town, in which a major employer builds homes and commercial buildings, and provides the goods and services needed by its employees, is an example of paternalistic social responsibility.
A) True
B) False
Answer:
A) True
Explanation:
Paternalistic social responsibility refers to acts whereby managers provide for the essential needs of the employees such as providing them with accommodation facilities along with satisfying other needs such as food.
Henri Ford was among the first initiators of such a responsibility when he provided health programs and recreational services to his employees.
Building town homes with provision for food by employer is an example of paternalistic social responsibility.
Performance monitoring is data driven and the HIM department needs access to data in order to make important decisions. One way to provide real-time data and important information that can be monitored at a glance is to use which of the following?
Options: A. Benchmark
B. Dashboards
C. Pareto charts
D. Time ladder
Answer: DASHBOARDS
Explanation: Dashboards are important and vital information management tools or technique which uses visual displays to track,analyse,evaluate and determine individual performance of KPIs (KEY PERFORMANCE INDICATORS). It is in use in most modern and global organisation to track and evaluate Business and personnel performance. Through Dashboards are project monitoring and performance management can be effective and efficient.
A conversion strategy whereby an organization uses the new system with select users/parts of the organization until issues are resolves then later expands use of the new system to the entire organization is known as a:A) pilot strategy.
B) phased strategy.
C) cutover strategy.
D) parallel strategy.
The conversion method where the new system is first implemented on a small scale until issues are resolved and then expanded to the entire organization is known as a pilot strategy.
Explanation:A conversion strategy whereby an organization uses the new system with select users/parts of the company until potential issues are noted and resolved is often called a pilot strategy. The system is first introduced on a small, controlled scale. Any problems that arise in the new system can be attended to before it's broadly introduced to the entire organization. Gradually, once all the issues are addressed and the system seems to be working well on a small scale, its use is expanded throughout the organization.
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A phased strategy is a conversion strategy where an organization implements a new system in stages, starting with select users/parts of the organization to address issues before expanding its use to the entire organization.
Explanation:The conversion strategy described in the question is known as a phased strategy.
In a phased strategy, an organization implements a new system in stages, starting with select users or parts of the organization. This allows any issues or problems to be identified and resolved before expanding the use of the new system to the entire organization.
For example, a company might first implement a new software system in one department to test its functionality, train employees, and identify any bugs or issues. Once these issues are resolved, the company can gradually roll out the system to other departments.
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Sal contracts with Tasty Pizza Company to deliver its products. Later,both parties change their minds and decide to cancel their contract.The next day, Sal again offers to deliver Tasty’s products. Tasty iswilling to deal, but for a new price. Sal and Tastya.can agree to a new contract, but it cannot include a new price.b.can agree to a new contract that includes the new price.c.must perform their original contract.d.must perform the part of their original contract that isexecutory.
Answer:
.b.can agree to a new contract that includes the new price
Explanation:
When Sal and Tasty agreed to cancel their first contract, that was the end of that particular contract. No further negotiations can take place because the contract doe not exist. By calling Tasty the following day, Sal was initiating a new contract.
A new contract does not need to make any references to the canceled contract. Sal and Tasty are free to negotiate for new terms and negotiations since this is a new contract. The details of the canceled contract are no longer binding to them.
Chestnut Tree Farms has identified the following two mutually exclusive projects. Picture Over what range of discount rates would you choose Project A?
a. 7.13 percent or less.
b. 7.13 percent or more.
c. 6.38 percent or more.
d. 6.38 percent or less.
e. 6.57 percent or more.
Answer:
D) 6.38 percent or less.
Explanation:
Year Cash Flow (A) Cash Flow (B)
0 -$40,000 -$40,000
1 $11,300 $17,400
2 $14,800 $14,100
3 $13,700 $12,900
4 $7,900 $2,200
first we must subtract cash flows from A by the cash flows from B:
1 $11,300 - $17,400 = -$6,100
2 $14,800 - $14,100 = $700
3 $13,700 - $12,900 = $800
4 $7,900 - $2,200 = $5,700
then we calculate the IRR = 6.38% (using an excel spreadsheet) 0 indifference rate
if the discount rate = 6.38% or less, then you should choose project A
project A is selected below the indifference rate and not above it since it originally had a lower IRR than project B.
The correct option is d. At 6.38 percent or less range of discount rates you would choose Project A.
To determine the range of discount rates at which you would choose Project A over Project B, you need to compare the Net Present Values (NPV) of both projects.
Here's how you can solve it:
Calculate the IRR for each project. The IRR is the discount rate at which the NPV of a project equals zero. You can use a financial calculator or Excel to compute the IRR for each project's cash flows.Compare the IRRs. The project with the higher IRR will be preferable when the discount rate is less than the IRR of the other project.Let's calculate the IRR for both projects.
Cash Flows for Project A:
Initial Investment (Year 0): -$40,000Year 1: $11,300Year 2: $14,800Year 3: $13,700Year 4: $7,900Cash Flows for Project B:
Initial Investment (Year 0): -$40,000Year 1: $17,400Year 2: $14,100Year 3: $12,900Year 4: $2,200Using Excel's IRR function or a financial calculator to find the IRR for each project:
IRR for Project A: Approximately 6.38%IRR for Project B: Approximately 7.13%Decision Rule:
If the discount rate is less than 6.38%, Project A has a higher NPV than Project B.If the discount rate is more than 7.13%, Project B has a higher NPV than Project A.So, you would choose Project A over Project B when the discount rate is 6.38% or less.
d. 6.38 percent or less.
The complete question is:
Chestnut Tree Farms has identified the following two mutually exclusive projects.
Year - Cash Flow A - Cash Flow B
0 - -$40,000 - -S40,000
1 - 11,300 - 17,400
2 - 14,800 - 14,100
3 - 13,700 - 12,900
4 - 7,900 - 2,200
Over what range of discount rates would you choose Project A?
a. 7.13 percent or less.
b. 7.13 percent or more.
c. 6.38 percent or more.
d. 6.38 percent or less.
e. 6.57 percent or more.
High rates of inflation often result in people spending inordinate amounts of time trying to make transactions and finding ways to keep the real value of their money from decreasing. This example illustrates _____ costs.
Answer:
Shoe leather cost
Explanation:
Shoe leather cost - it is referred to the cost of efforts that people intended to counter inflation. Shoe leather cost is considered as time cost by having less amount of cash in hand in order to tackle the inflation tax. Therefore people make regular trips to financial institutions due to holding less cash.
Jane Hastings recently joined her first job as a communication executive and is working on creating press releases for an upcoming campaign. The campaign is getting launched publicly in the next week and Hastings will need to interact with the media and give sound bites on the issue. This is the first time she will be interacting with the press and she is experiencing emotions of anxiousness, nervousness, and stress. Which of the following mood dimensions is she experiencing?a. low negative affectb. high positive affectc. low positive affectd. high negative affecte. neutral affect
Answer:
d. high negative affect
Explanation:
Negative affectivity is a wide trait of personality, referring to the stable inclination to suffer negative emotions.
People high in Negative affectivity are much more reluctant to experience negative levels of affective mood over time and irrespective of circumstance.
Same with Jane, she started her new job but experiences emotions of negativity because of the campaign.
They often report further dissociative symptoms and focus on negative stimulation or possibly dangerous situations.
Answer:
D) high negative affect
Explanation:
Negative affect (or affectivity) refers to feeling negative emotions about a certain experience and a very low self-concept of how you are dealing with this negative or bad experience.
When you suffer from negative affectivity, you are viewing yourself in a very negative way and that doesn't necessarily match the way other people are seeing you. You have a low self-esteem and that doesn't mean that the rest of the people think the same way, that is why it refers to a negative feeling, not a negative state.
In this case, Jane believes that she cannot do her work properly, but that doesn't mean it is true, it just reflects her feelings. It would be different if she indeed would perform poorly.
CANOESminus−Rminus−US makes canoes. It buys the shell of the canoe from another local firm for $300 and uses its labor and intermediate goods to make the canoe. It sells the finished canoe to a retail canoe store for $800. The retail canoe store then sells the canoe to a consumer for $1,200. The value added of CANOESminus−Rminus−US for each canoe equals
Answer:
$500
Explanation:
Given that
The buying value of the canoe shell = $300
Sale value of the finished goods for making the canoe = $800
And the final price to the customer = $1,200
S, each canoe equal to
= Sale value of the finished goods for making the canoe - Buying value of the canoe shell
= $800 - $300
= $500
Hence, the final price is ignored.
The Toro-Hessians are a minority group in the Margoza Archipelago, with a set of preferences, attitudes, and taboos, distinct from that of the national culture. Therefore, they are often overlooked when foreign businesses choose to customize their products for the inhabitants of the islands. The Toro-Hessian community is an example of ___________.
Answer:
The correct answer is: Subculture.
Explanation:
In Sociology, Anthropology, and Cultural Studies, the term subculture defines a group of people with a type of distinctive behavior and beliefs that make them different within the primary culture they are part of. Subcultures can be created based on age, gender, or ethnicity.
Select all that apply. The accountant for Harper Plumbing Company failed to record the following transaction in the journal: Billed customers $1,400 for services performed. Select the two of the following that will be errors resulting from this omission. A : Net income will be understated. B : Assets will be overstated on the balance sheet. C : The ledger will not balance. D : Net income will be overstated. E : The journal will not balance. F : Assets will be understated on the balance sheet.
Answer:
A : Net income will be understated and
F. Assets will be understated on the balance sheet.
Explanation:
'Billed customers $1,400 for services performed' will be journalised as:
Cash A/c Dr to Sale/Income A/c Cr.
So; Not recording this transaction will understate the income & asset i.e cash. Income will be understated in the P&L A/C, assets will be understated in the Balance Sheet.
Other options are inapt because: Assets & Income overstatement are opposites of correct answer. Journal & ledger will be balanced because the entire entry is not recorded & its both debit & credit aspects have been omitted.
Person-Centered Planning:
Listening beneath the surface, listening to the unsaid, and listening with a third ear is referred to as what in this course?
Answer:
Expanded listening
Explanation:
The aim of person - centered learning is to promote mans inherent ability of creativity and also integration of individuals through personal growth and development.It builds on individual's skills , talent , gifts and strength to manage the relationship of a community with people with disabilities
Expanded listening are ways in which different kind of bodies and human respond to sounds.
Person-centered planning is referred to as listening with a third ear.
Person-centered planning or the PCP is the selection and organizational process that help in supporting and providing services to the older, adult, or disabled person who requires support and special services to live in the society and with the community.
In the context of the course, person-centered planning is referred to as expanded listening. Under this, the aim is to promote the inherent ability of the man by enhancing their creativity and integrating their personal growth in society.
Expanded listening means providing an external source or can be said as providing a third ear to the disabled person for listening and learning.
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Broker Bill has several agents in his employ. Agent Smith, an "S-Corporation" himself, has his commission checks written out to his "S-Corporation." Because of this, Broker Bill is:
A. relieved of his duties to supervise Agent Smith
B. required to file tax withholding for Agent Smith
C. managing broker over Agent Smith
D. licensed under a corporation and no longer the employing broker
Answer:
C. managing broker over Agent Smith
Explanation:
a managing broker is someone is held liable over the actions of another broker office or agency that act on the managing broker's behalf. Thse office or agnecy are allowed to act without direct order from the managing broker, but managing broker will be the one that receive all the consequences.
All the profit that is made by managed entity (in this context agent smith) will have to goes to managing broker first and the managing broker will share the profit on a private term with Agent Smith.
In return, the managing broker will have to ensure that all of the agents that he/she has under disposal have to follow the compliance rule that is made by the government. He will manage the licence and annual tests of the agents in order to ensure consumer safety.
Final answer:
Broker Bill's supervisory obligations over Agent Smith remain despite Agent Smith's use of an S-Corporation for commission payments. Taxes for an individual who is the sole employee of their corporation include corporate income tax, individual income tax, and payroll tax.
Explanation:
Broker Bill is not relieved of his duties to supervise Agent Smith just because Agent Smith's commission checks are written out to his "S-Corporation." It is a common practice for agents to have their business set up as an S-Corporation for tax purposes. This does not change the fact that Broker Bill is the managing broker over Agent Smith and is responsible for his supervision. As for the taxes, if an individual like Agent Smith owns a corporation and is the only employee, he will need to pay corporate income tax on the corporation's profits, individual income tax on his salary, and payroll tax on the wages he pays to himself.
The price elasticity of demand for gasoline in the short run has been estimated to be -0.1. If a war in the Middle East causes the price of oil (from which gasoline is made) to increase, how will that affect total expenditures on gasoline in the short run, all other things unchanged?
demand will stay the same, but total expenditures will fall
demand will decrease, but total expenditures will rise
total expenditures will remain unchanged
demand will not change, but total expenditures will rise
Answer:
demand will not change, but total expenditures will rise
Explanation:
there wont be any changes in consumption quantity but lesser oil will make gasoline more expensive and therefore not changing the demand but making the total expenditures to increase.
Apex Corp. asks its consumers to determine how they perceive the similarities and dissimilarities among relevant product attributes for a group of competing brands. In this case, Apex Corp. is most likely using the technique of _____.
A.concept testing
B.behavioral targeting
C.perceptual mapping
D.bivariate regression analysis
E.analysis of variance (ANOVA)
Answer: (C) Perceptual mapping
Explanation:
The perceptual mapping is one of the type of technique that is used by the marketers for visually displaying the different types of perceptions of the consumers and the users.
It is also known as the market mapping technique that is used for the developing the various types of brands and the products in the market for based on the customer perspective.
According to the given question, the Apex corp. is using the perpetual mapping technique for determining the different types of product attribute in the market.
Therefore, Option (C) is correct answer.
A firm has net working capital of $440, net fixed assets of $2,186, sales of $5,500, and current liabilities of $750. How many dollars worth of sales are generated from every $1 in total assets?
a. $1.70
b. $2.52
c. $1.63
d. $1.87
e. $2.09
Answer:
c. $1.63
Explanation:
We have to calculate the asset turnover which is shown below:
Total asset turnover = (Sales revenue ÷ Total assets)
where,
Sales revenue = $5,500
The net working capital = Current assets - current liabilities
$440 = Current asset - $750
So, the current asset = $750 + $440
= $1,190
And, the total asset equal to
= Fixed asset + current asset
= $2,186 + $1,190
= $3,376
Now the total asset turnover equal to
= $5,500 ÷ $3,376
= 1.63
Final answer:
The number of dollars worth of sales generated from every $1 in total assets for the firm is approximately $2.09. You calculate this by firstly finding total assets, which in this case are $2,626, and then dividing the total sales of $5,500 by the total assets.
Explanation:
To calculate how many dollars worth of sales are generated from every $1 in total assets, you first need to determine the total amount of assets. The net working capital is given as $440, and you can calculate the total assets by adding net fixed assets to net working capital and subtracting current liabilities (since net working capital already includes current liabilities).
Total assets = Net working capital + Net fixed assets - Current liabilities
Total assets = $440 + $2,186 - $750
Total assets = $2,626
Next, divide the sales by the total assets to find out how many dollars worth of sales are generated from every $1 in total assets.
Sales to total assets ratio = Sales / Total assets
Sales to total assets ratio = $5,500 / $2,626
Sales to total assets ratio = $2.09 (approximately)
Your company identifies an untapped need for its products in a foreign country. However, limited transportation to this country makes exporting difficult, and the lack of an adequate water and sewer system makes manufacturing impossible. This is an example of how a U.S. firm attempting to enter global markets encounters ________ challenges.
Answer:Physical and environmental challenges
Explanation: Physical challenges refers to limited transportation , the actual challenges that will hinder physical activities that the business needs to embark on and environmental challenges refers to inadequate water and lack of sewer system , it would be difficult to run the business without water and proper sewer services that can be used by the employees.
A(n) ________ consists of people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights.A) enterprise planning system
B) enterprise information system
C) marketing information system
D) corporate performance management system
E) geographic information system
Answer: C; Marketing information system
The economy of Atlantia is defined by the private ownership of the means of production. Although products produced and prices are based on market factors, the government intervenes as a regulator to ban harmful products and to set a minimum wage. Atlantia is an example of a
Answer:
Mixed economy
Explanation:
A mixed economy is an economic system that has elements of both socialism and capitalism.
Socialism is an economic system that allows only public ownership of capital goods. That is, it an economic system under which only the government is allowed to own the means of production without any private ownership.
Capitalism is an economic system that allows only private ownership of capital goods and market determines prices of goods produced. The implication is that only private individuals or businesses are allowed to own the means of production without any government ownership, regulation or intervention.
The means of production are the factories, machinery, plant and equipment, and tools that are employed to produce goods.
However, a mixed economy has a combination of both capitalism and socialism, because it gives freedom to private individuals to own and use the means of production, but it also allowed intervention from the government in form of regulation of prices with the objective of achieving social aims.
Therefore, the economy of Atlanta is a mixed economy because it allows private ownership of the means of production, but also allows government intervention as a regulator.
Kingbird, Inc. purchased office supplies costing $7980 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $2850 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be:
Answer and Explanation:
In The books Of (Kingbird Inc.)
Journal Entry
Date Account Title and Explanation Amount Amount
Supplies Expenses a/c Dr $5,130
To Supplies a/c $5,130
(Being adjusted entry held for remain Supplies)
Working Note:
Amount = ($7,980 - $2,850) = $5,130
Which of the following statements about the price elasticity of demand is correct The absolute value of the elasticity of demand ranges from zero to one. The elasticity of demand for a good in general is equal to the elasticity of demand for a specific brand of the good. Demand is more elastic the smaller the percentage of the consumer's budget the item takes up. Demand is more elastic in the long run than it is in the short run
Answer:
Demand is more elastic in the long run than it is in the short run
Explanation:
Elasticity of demand measures the responsiveness of quantity demanded to changes in price.
Demand is more elastic in the long run than it is in the short run because in the long run consumers have more time to search for suitable substitutes.
When the absolute value of elasticity of demand is less than one, demand is inelastic.
When the absolute value of elasticity of demand is equal to one, demand is unitary.
When the absolute value of elasticity of demand is greater than one, demand is elastic.
Demand is less elastic the smaller the percentage of the consumer's budget the item takes up.
The elasticity of demand for a specific brand of good doesn't translate into the elasticity of demand for the good.
I hope my answer helps you
The price elasticity of demand measures how quantity demanded responds to a change in price and can be elastic, unit elastic, or inelastic. A demand/supply is elastic if a given % change in price produces a larger % change in quantity demanded/supplied. It's inelastic if the same % change in price results in a smaller % change in quantity demanded/supplied.
Explanation:The price elasticity of demand measures the responsiveness of the quantity demanded of a good to a change in its price. It is computed as the percentage change in quantity demanded divided by the percentage change in price. The elasticity can be described as being elastic (very responsive), unit elastic, or inelastic (not very responsive).
An elastic demand or supply curve indicates that quantity demanded or supplied responds to price changes in a greaterthan-proportionall manner, thus leading to an elasticity greater than one. In contrast, an inelastic demand or supply curve is one where a given percentage change in price will cause a smaller percentage change in the quantity demanded or supplied, which corresponds to an elasticity of less than one. A unitary elasticity, on the other hand, means that a given percentage change in price leads to an equal percentage change in quantity demanded or supplied.
At one end of the demand curve, where we have a larger percentage change in quantity demanded over a small percentage change in price, we'd have a high elasticity value, meaning the demand would be relatively elastic. However, at the other end of the demand curve, the quantity is much higher, and the price is much lower, so the percentage change in quantity demanded is smaller and the percentage change in price is much higher. Therefore, we'd have a small numerator over a large denominator, resulting in a low elasticity measure, or inelastic demand.
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LaVilla is a village in the Italian Alps. Given its enormous popularity among Swiss, German, Austrian, and Italian skiers, all of its beds are always booked in the winter season and there are, on average, 1,200 skiers in the village. On average, skiers stay in LaVilla for 10 days.
A. How many new skiers are arriving – on average – in LaVilla every day?
B. A study done by the largest hotel in the village has shown that skiers spend on average $50 per person on the first day and $30 per person on each additional day in local restaurants. The study also forecasts that – due to increased hotel prices – the average length of stay for the 2014/2015 season will be reduced to five days. What will be the percentage change in revenues of local restaurants compared to last year (when skiers still stayed for 10 days)? Assume that hotels continue to be fully booked!
Answer:
A) 120 arrive (and leave) per day
B) a 6.25% increase
Explanation:
A) average of 1,200 skiers in LaVilla
they stay on average for 10 days
flow rate = inventory / flow time = 1,200 / 10 = 120
B) If tourists will stay only 5 days instead of 10, 240 tourists will be arriving and leaving every day.
To calculate this we will take any 1 day period:
Scenario 1 (10) old guests new guests total
day 1 1,080 120 1,200
total expenditures $32,400 $6,000 $38,400
Scenario 2 (5) old guests new guests total
day 1 960 240 1,200
total expenditures $28,800 $12,000 $40,800
If the average stay is reduced to 5 days, then the total restaurant revenue should increase by $2,400 or 6.25%.
Final answer:
On average, 120 new skiers arrive in LaVilla every day. If the average length of stay is reduced from 10 days to 5 days, local restaurants will see a -46.88% change in revenue, assuming that hotels remain fully booked.
Explanation:
To answer the first question about how many new skiers are arriving in LaVilla every day, we use the following information:
There are, on average, 1,200 skiers in LaVilla.Each skier stays for 10 days on average.We can calculate the number of new arrivals per day by dividing the total number of skiers by the length of stay. Hence, the number of new skiers arriving daily is 1,200 skiers ÷ 10 days = 120 skiers per day.
To calculate the percentage change in revenues of local restaurants when the average stay is reduced from 10 days to 5 days:
First, we calculate the current average revenue per skier: $50 on the first day + $30 × 9 additional days = $320 per 10-day stay.Then calculate the new average revenue per skier when the stay is reduced to 5 days: $50 on the first day + $30 × 4 additional days = $170 per 5-day stay.The percentage change in revenue per skier is calculated as follows: ((New Revenue - Old Revenue) ÷ Old Revenue) × 100. Thus, the percentage change is ((170 - 320) ÷ 320) × 100 = -46.88% change in revenue.
Garrett, an American manager for a fast food corporation, visited Saudi Arabia for a business meeting. Despite being Christian, he attempted to act like a Muslim in a misguided attempt to please his host. Mark has violated a cultural __________.
Answer:
Mark violated a cultural exclusive
Explanation:
Cultural exclusives are customs that are only for locals.I.e If you are a Christian, don’t go to the Middle East and attempt to act like a Muslim because that will be termed as insulting their religion.
When the price of hamburgers increased from $1.50 to $2.75, the quantity demanded decreased from 375 units sold to 250 units sold. Using the midpoint method, hamburgers are said to be:_____
Answer:
Inelastic
Explanation:
When the price of hamburgers increased from $1.50 to $2.75, the quantity demanded decreased from 375 units sold to 250 units sold. Using the midpoint method, hamburgers are said to be inelastic
1. Change in price = 2.75-1.5 / (1.5+2.75)/2 = 1.25/2.125 = 0.59
2. Change in quantity demanded = 375-250 / (375+250)/2 = 125/ 312.5 = 0.4
3. Price Elasticity = 0.4/0.59 = 0.68
4. When the value of elasticity is less than 1, it suggests that the demand is insensitive to price and is inelastic
Using the midpoint method to calculate the price elasticity of demand for hamburgers, we find that the elasticity is approximately -0.68; therefore, hamburgers are said to be price inelastic.
When the price of hamburgers increased from $1.50 to $2.75 and the quantity demanded decreased from 375 units to 250 units, using the midpoint method, we can calculate the price elasticity of demand to determine how sensitive the quantity demanded of hamburgers is to a change in price. The midpoint method formula for elasticity is given by:
Elasticity (E) = (Q2 - Q1) / [(Q2 + Q1) / 2] / (P2 - P1) / [(P2 + P1) / 2]
Plugging in the values we get:
E = (250 - 375) / [(250 + 375) / 2] / ($2.75 - $1.50) / [($2.75 + $1.50) / 2]
E = (-125) / (312.5) / (1.25) / (2.125)
E = -0.4 / 0.5882
E = -0.68 (approximately)
Since the absolute value of elasticity is less than 1, hamburgers are said to be price inelastic.
A competitive environment where there is weak to moderate rivalry among sellers, high entry barriers, weak competition from substitute products, and little bargaining leverage on the part of both suppliers and customers lacks powerful driving forces. gives each industry competitor the best potential for building sustainable competitive advantage over rival firms. makes it challenging for industry members to compete successfully unless they can strongly differentiate their products. is conducive to industry members earning attractive profits. requires that industry members have low costs in order to be competitively successful. A. the industry and competitive arena in which the company operates.
B. general economic conditions plus the factors driving change in the markets being served.
C. all the strategically significant forces and factors outside a company's boundaries — general economic conditions, population demographics, societal values and lifestyles, technological factors, and governmental legislation and regulation.
D. the competitive market environment that exists between a company and its competitors.
E. the dominant economic features of a company's industry.
Answer:
The answer is ; is conducive to industry members earning attractive profits.
Explanation:
Final answer:
The student's question relates to a market structure with limited competition due to high barriers to entry, which can result in a monopoly or oligopoly, allowing firms to earn higher profits compared to a perfectly competitive market.
Explanation:
The scenario detailed in the student's question pertains to a market structure where competition is limited due to various factors. Barriers to entry such as legal restrictions, technological hurdles, or market forces play a significant role in preventing new competitors from entering the market. This can lead to what is known as a monopoly, where a single firm dominates the market, or an oligopoly, where a few firms have considerable control.
In such markets, the lack of significant competition and weak competition from substitute products often allows existing firms to enjoy higher profits. However, if a firm earns positive economic profits, this could, under different conditions, encourage new entrants, assuming they can overcome the barriers to entry. This competitive dynamic is contrasted with the theoretical model of perfect competition, which is characterized by a large number of sellers, identical products, and no barriers to market entry.
A friend keeps a piano until the owner finds a larger apartment. The friend may not play the piano or otherwise receive any benefits of ownership during the bailment. What kind of bailment is this?
Answer:
Bailment for the sole benefit of the bailor
Explanation:
A bailment is made for the sole advantage of the bailee when the two gatherings concur the property incidentally in the bailee's care is to be utilized to further their own potential benefit without offering anything to the bailor consequently.
It happens when a thing or things is moved to another gathering to be hold incidentally. The individual who gives the things is known as the bailor, while the individual who gets the things is known as the bailee.
A friend keeping a piano until the owner finds a larger apartment, without any personal use of the piano, showcases a gratuitous bailment solely for the benefit of the bailor. This arrangement is defined by the lack of compensation and the bailee's responsibility to care for the property without deriving any personal benefit.
Explanation:The scenario described, where a friend keeps a piano until the owner finds a larger apartment and may not play the piano or otherwise receive any benefits of ownership during the bailment, is referred to as a gratuitous bailment for the sole benefit of the bailor. In gratuitous bailment, the bailor (the owner of the piano) grants custody of the property to another (the bailee, or the friend) without any payment or benefit received by the bailee. The primary purpose of this arrangement is to benefit the owner by providing a space to keep the piano safe until they can accommodate it, rather than for any mutual benefit or for the benefit of the bailee.
In legal terms, the key characteristics of this type of bailment include the lack of compensation, the intentional temporary transfer of possession (not ownership), and the responsibility of the bailee to take care of the property without using it for personal gain. The fact that the friend cannot play the piano or utilize it in any way underscores the nature of the bailment as solely for the benefit of the bailor.