A perfectly competitive firm a. has a perfectly inelastic demand. b. has a perfectly elastic supply. c. Answers A and B are correct. d. Answers A and C are correct. e. sells a product that has perfect substitutes.
Answer:
b
e
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
In analyzing the differences among Theories X, Y, and Z managers, it is appropriate to determine that Multiple Choice Theory Z managers believe that employees prefer to be directed. Theory Z managers understand that workers prefer to work by themselves, and will do their best work individually rather than with a team. Theory Z managers believe that getting employees more involved in work-related decisions will generally increase productivity. Theory Z managers believe that decision making is not part of an employee's responsibilities.
Answer:
Theory Z managers believe that getting employees more involved in work-related decisions will generally increase productivity.
Explanation:
In simple words, Theory Z can be understood as the management strategy that combines American as well as Japanese managerial concepts and is characterized by tight job stability, consensus policy making, delayed assessment and advancement processes, and personal responsibility inside a group setting, among other things.
Rosa is upset with D'Shaun because he keeps giving their teenage daughter more money than the family has budgeted. Rosa and D'Shaun discuss their daughter's need for more money and their need to stay on budget. The ultimately decide to increase their daughter's allowance to $20 and in exchange, have her babysit her younger brother instead of paying for a sitter. Everyone's needs are met. What type of Conflict Management is Rosa using
Answer:
collaborating
Explanation:
A mix of being cooperative and assertive that means those who want to do collaboration for attempting the work with other in identifyig the solution that satisfied fullly for each and everyone concern
Since rosa wants that everyone needs could be met out
So this represent the collaboration
The same should be relevant
If velocity is constant and, in addition, the factors of production and the production function determine real GDP, then: Group of answer choices nominal GDP is fixed. the price level is proportional to the money supply. real GDP is proportional to the money supply. the price level is fixed.
Answer:
the price level is proportional to the money supply.
Explanation:
Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.
The four factors of production are;
I. Land: this refers to the natural resources and raw materials extracted from the ground or grown in the soil e.g oil, gold, rubber, cocoa, etc.
II. Labor (working): this is the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.
III. Capital resources: it includes the physical assets used for production of goods and services such as equipment, money, plant, etc.
IV. Entrepreneurship: it is intellectual capacity required to drive a business and the skills to develop an idea into a money making venture (business).
These four (4) factors of production when combined effectively and efficiently are used for the manufacturing or production of goods and services that meets the unending requirements or needs of the consumers.
In Economics, if velocity is constant and, in addition, the factors of production and the production function determine real gross domestic product (GDP), then the price level for goods and services is said to be directly proportional to the money supply in the economy.
homeworklib The Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data for the products and departments are listed below. Product Number of Units Labor Hours Per Unit Machine Hours Per Unit Blinks 964 3 5 Dinks 1,943 5 8 All of the machine hours take place in the Fabrication department, which has an estimated overhead of $103,800. All of the labor hours take place in the Assembly department, which has an estimated total overhead of $79,600. The Ramapo Company uses a single overhead rate to apply all overhead costs based on labor hours. What is the overhead cost per unit for Blinks
Answer:
Overhead per unit of Blinks= $43.65
Explanation:
Giving the following information:
Product Number of Units Labor Hours Per Unit
Blinks 964 3
Dinks 1,943 5
First, we need to calculate the total estimated overhead and the total number of labor hours:
Total estimated overhead= 103,800 + 79,600= $183,400
Total number of labor hours= (964*3) + (1,943*5)= 12,607
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 183,400 / 12,607
Predetermined manufacturing overhead rate= $14.55 per direct labor hour
Finally, we can allocate overhead to Blinks:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Blinks= 14.55*3= $43.65
A. A plan for mass casualty incidents should include protective actions to reduce vulnerabilities, response actions to minimize negative consequences, and post incident actions to promote community recovery. B. A partnership approach to planning for mass casualty incidents helps to ensure that the plans for your organization are compatible with those of the agencies that would respond if an incident occurred. C. When an organization is planning for mass casualty incidents, an effective approach is to request law enforcement personnel to develop a separate plan for mass casualty incidents for the organization. D. It is important to customize your emergency plan to reflect the risks, realities, and resources that characterize the local area and your own organization.
Answer: When an organization is planning for mass casualty incidents, an effective approach is to request law enforcement personnel to develop a separate plan for mass casualty incidents for the organization
Explanation:
A Mass Casualty Incident refers to an overwhelming event, which leads to more patients at a time than what the available resources can easily manage such that it requires additional assistance.
A plan for mass casualty incidents should include protective actions that will be used to reduce vulnerabilities, response actions to minimize negative consequences, and post incident actions to promote community recovery.
A partnership approach to planning for mass casualty incidents is important as it helps in ensuring that the plans for your organization are compatible with those of the agencies that would respond if an incident occurred.
It's also vital to customize your emergency plan to reflect the risks, realities, and resources that characterize the local area and your own organization.
The false statement is "When an organization is planning for mass casualty incidents, an effective approach is to request law enforcement personnel to develop a separate plan for mass casualty incidents for the organization". This isn't true.
Which option will cause a business to lose money from a failing product
Group of answer choices.
A. Rebrand the product
B. Spin off the product
C. Discontinue the product
D. Continue the product
Answer:
D. Continue the product
Explanation:
A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks etc.
A product life cycle can be defined as the stages or phases that a particular product passes through, from the period it was introduced into the market to the period when it is eventually removed from the market.
Generally, there are four (4) stages in the product-life cycle;
1. Introduction.
2. Growth.
3. Maturity.
4. Decline.
A product that is at the decline stage is generally referred to as a failed product and wouldn't generate profit or much revenue for the manufacturer because it has little economic importance.
This ultimately implies that, continuing with a failed product is an option which will cause a business to lose money from a failing product.
Answer:
D. Continue the product
Explanation:
Which option will cause a business to lose money from a failing product Continue.
The relative price of good X is 5 units of good Y. It follows that the absolute price of good X can be ______________ and the absolute price of good Y can be ___________.
Answer:
$40,000 and $8,000
Explanation:
Relative price of good X is 5 units of good Y. The absolute value of good X is $40,000. Absolute value is the original value of a good while relative value is based on price of some identical or similar good. The absolute value of good Y is $8,000.
Which of the following sales would be covered by Article 2 of the Uniform Commercial Code? Group of answer choices the sale of intangible goods the sale of tangible goods the sale of real estate the sale of stocks
Answer:
the sale of tangible goods
Explanation:
Article 2 is applied for the contract that made for selling the goods. the goods that are identifed at the time when the contract is created and could be moved. It mainly deals with the tangible things like computers, cars, pens, etc
The intellectual property and intangible should not be cover in this
Therefore the above should be considered
In the above problem, the proposed new branch will _______ overall risk exposure and produce a(an) ______ effect. Fill in the appropriate answers. Group of answer choices increases; economies of scale increases; economies of scope reduces; convergence reduces; geographic diversification
Answer:
reduces; geographic diversification
Explanation:
In the above problem, the proposed new branch will economics reduces overall risk exposure and produce a geographic diversification effect.
Ted is a favorite among his subordinates, as he gets directly involved in the minute details of their work. He is task-oriented and has clear knowledge on critical operational details of his team. In this context, Ted can be considered a(n) _____ leader.
Answer:
ingratiating.
Explanation:
It is correct to say that Ted can be considered an ingratiating leader, which is a technique used to improve personal relationships through the use of sympathy, assistance, interest and collaboration, so that there is a positive influence on people and consequently greater individual willingness to respond to expectations of that person.
As the question explains, Ted has the sympathy of subordinates and is considered one of the favorite leaders because he gets involved in the work, understands the workers and helps with tasks, so he is a ingratiating leader.
According to Garrett et al. (1975, 1988, 1989), language production proceeds through a series of processes: ______, ______, and ______.
Answer:
According to Garrett et al. (1975, 1988, 1989), language production proceeds through a series of processes: conceptualization , formulation , and articulation .
Morgan Corporation purchased a depreciable asset for $600,000 on January 1, 2018. The estimated salvage value is $60,000, and the estimated useful life is 9 years. The straight-line method is used for depreciation. In 2021, Morgan changed its estimates to a total useful life of 5 years with a salvage value of $90,000. What is 2021 depreciation expense
Answer:
Annual depreciation= $165,000
Explanation:
First, we need to calculate the accumulated depreciation at the end of 2020:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (600,000 - 60,000) / 9
Annual depreciation= $60,000
Three full depreciable years have passed.
Accumulated depreciation= 60,000*3= $180,000
Now, the annual depreciation with the revised information:
Book value= 600,000 - 180,000= $420,000
The useful life remaining is two years.
Annual depreciation= (420,000 - 90,000) / 2
Annual depreciation= $165,000
True or false: You have to pay to attend college?
Answer: Most of the time, yes.
Explanation: For most average college students you do have to pay, unless you receive a scholarship. But those are pretty hard to get so i recommend just robbing a bank (DONT ACTUALLY, VERY ILLEGAL)
Marcia Baker ships orchids and other perishable flowers from her greenhouses near San Francisco to florists thousands of miles away in cities such as New York, Boston, and Philadelphia. Since the flowers must reach the florists as quickly as possible, the best mode of transportation for Marcia to use would be Multiple Choice railroads. trucks. air. ships.
Answer:
air
Explanation:
San Francisco is located on the SouthWest corner of the United States, while other states such as New York, Boston, adn Philadelphia are located on the NorthEast corner of the United States. This means that the ships are not an option since they would have to go all the way around and would be the longest option. Therefore, the best and fastest option would be through air. Since both railroads and trucks are viable but would take much longer than sending the flowers through air.
The economic term that describes the satisfaction that consumers gain from consuming goods and services is
Answer:
utility
Explanation:
Answer:
Utility
Explanation:
I got the answer right on my test
Laws regulating conduct between private parties in matters like contracts, business, and domestic relations are called
Answer:
civil law
Explanation:
part of a country's set of laws which is concerned with the private affairs of citizens, for example marriage and property ownership, rather than with crime.
Find the average variable cost for producing 18 sneakers. Round your answer to the nearest hundredth.
Answer: $2.78
Explanation:
Average variable cost is calculated by dividing the total variable cost of producing a certain number of units of a good by that same number of units.
Average variable cost = Variable cost of producing 18 sneakers / 18
= 50 / 18
= 2.7778
= $2.78
Calculate the return on investment for an advertisement from the given data. Net sales is $1,000, and advertising cost is $50.
Answer:
2,000 %
Explanation:
Return on investment for an advertisement = Sales / Advertisement Cost x 100
therefore,
Return on investment for an advertisement = $1,000 / $50 x 100
= 2000 %
3M, an American firm, manufactures adhesive tape in St. Paul, Minnesota, and ships the tape to South Korea for sale. According to this information, 3M uses ________ to deliver this product. A. exporting B. licensing C. franchising D. insourcing E. outsourcing
Answer: exporting
Explanation:
Exporting refers to the sale of products and services that are sources or made in a particular country to foreign countries. On the other hand, importing is the purchasing of goods and services from the foreign countries and then bringing them into the home country.
In this case since 3M manufactures adhesive tape in St. Paul, Minnesota, and ships the tape to South Korea for sale, this is exporting.
In a(n) ________ organization, the decision-making authority is delegated as far down the chain of command as possible.
Answer:
decentralizated.
Explanation:
It is correct to say that in an organization with a decentralized structure, the decision-making process is delegated as far down the chain of command as possible, that is, the lower hierarchical levels also contribute to the company's decision-making process.
The advantages of a decentralized organization are that this structure allows for greater flexibility in processes, ensures faster decision-making, greater independence and autonomy in business areas, can bring greater innovation and faster solution to organizational challenges.
Discuss whether a commercial bank should specialize or diversify in terms of the services it provides.
Answer:
The authors find that sector specialization has an overall positive effect on banks' performance. In contrast, Bebczuk and Galindo (2007) find for Argentina that banks with a diversified credit portfolio have fewer non-performing loans.
A concentrated portfolio with a high risk level results from concentrating on portfolio growth without adding additional asset classes.
What is a portfolio?A portfolio is a collection of financial assets, such as securities, bonds, commodities, cash, and cash equivalents, such as closed-end funds and exchange-traded funds (ETFs).
Most people think that a portfolio's core consists of equities, bonds, and cash. Although this is frequently the case, it need not be the exception. Various types of assets, such as private investments, real estate, and fine art, may be included in a portfolio.
The wisdom of diversification, which essentially means not putting all of your eggs in one basket, is one of the fundamental ideas in portfolio management.
By distributing investments among different financial instruments, industries, and other categories, diversification aims to lower risk. By making investments in many sectors that would all respond differently to the same occurrence, it seeks to optimize returns.
The strategy of a hybrid portfolio diversifies among asset classes. Investing in stocks, bonds, commodities, real estate, and even art are all necessary components of creating a hybrid portfolio.
Learn more about portfolio, here
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Required Journal entry
Paid salary and wages Rs 55,000
PLEASE HELP
Answer:
Date Account Title Debit Credit
XX-XX-XX Salary and Wages expense Rs. 55,000
Cash Rs. 55,000
The Salaries and Wages expense account will be debited to show that this expense was incurred as expenses have a debit balance,
Cash was used to pay for the salaries and wages so it will be credited because Assets are credited when they reduce.
A firm has a fixed production cost of $ and a constant marginal cost of production of $ per unit produced. What is the firm's total cost function? A. TC. B. TC(q). Your answer is correct.C. TCq. D. TC . The firm's average total cost (ATC) of production is
Answer:
a) We have:
The firms total cost function: TC = 5,000 + 500Q
Average cost: ATC = (5,000 / Q) + 500
b)The firm would choose to be very large if it wanted to minimize the average total cost.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
A firm has a fixed production cost of 5,000 and a constant marginal cost of production of 500 per unit produced.
a) What is the firms total cost function? Average total cost?
b) If the firm wanted to minimize the average total cost, would it choose to be very large or very small? Explain.
The explanation of the answer is now provided as follows:
a) What is the firms total cost function? Average total cost?
Let Q represents quantity of output produced by the firm.
Since the marginal cost of production is constant, this implies:
VC = Variable cost = 500 * Q = 500Q
Also, we have:
FC = Fixed production cost = 5,000
Since TC = FC + VC, the total cost function (TC) can then be obtained as follows:
TC = 5,000 + 500Q
Since ATC = TC / Q, the average cost (ATC), can also be obtained as follows:
ATC = (5,000 / Q) + (50Q/Q)
ATC = (5,000 / Q) + 500
Therefore, we have:
The firms total cost function: TC = 5,000 + 500Q
Average cost: ATC = (5,000 / Q) + 500
b) If the firm wanted to minimize the average total cost, would it choose to be very large or very small? Explain.
The firm would choose to be very large if it wanted to minimize the average total cost.
Because fixed expenses dominate total costs at low levels of output, average total cost starts out high. In terms of Mathematics, the denominator is so tiny that average total cost is huge. As fixed costs are spread over a larger quantity of output, the average total cost decreases. Therefore, the firm would choose to be very large if it wanted to minimize the average total cost.
Monetarists argue that the Federal Reserve System should
A. institute a prescribed rate of growth in the money supply.
B. self-correction is less effective than activist monetary policy.
C. policymakers should use monetary policy rather than fiscal policy to stabilize the economy.
D. since velocity is unstable, a fixed annual increase in the money supply will exacerbate inflation in the long run.
Answer:
C. policymakers should use monetary policy rather than fiscal policy to stabilize the economy.
Explanation:
Monetarists argue that the Federal Reserve System should "use monetary policy rather than fiscal policy to stabilize the economy."
According to monetarists, a monetary policy is a policy that involves the regulation or control of money supply, including the rate of interest such that it regulates the microeconomic of a nation. Hence, Monetarists argue that the Federal Reserve System should "use monetary policy rather than fiscal policy to stabilize the economy, " because it helps in the control of inflation, consumption, development, and cash flow.
and ends at (240,250). There is a blue downward sloping line that starts at (70,250) and ends at (240,150).) What sales price should you select to meet the equilibrium price for the lawn mower?
Answer:
$190
Explanation:
The equilibrium price of the lawnmower can be deduced from the graph ; it is the point of intersection of the orange and blue line ; which is the intersection point if the supply and demand line. The price axis is located on the vertical y-axis. This intersection point when traced to the left of the graph gives the equilibrium price. Hence, the equilibrium price as obtained from the graph is about $190
Intermediaries in indirect channels of distribution: a. Often perform functions that producers cannot perform efficiently by themselves. b. Do not provide additional convenience to consumers c. Increase the need for producers to make large investments in distribution facilities and personnel. d. Make it necessary for producers to carry more inventories. e. None of these alternatives is correct
Answer:
A. Often perform functions that producers cannot perform efficiently by themselves.
Explanation
indirect distribution channel of distribution can be regarded as one that depends on intermediaries in order to carry out most or all of their functions of distribution , they are regarded as wholesaler. indirect distribution can also be explained as selling of wholesale producys to the agents/retailers in order for them to distribute the product so it can get to consumers. It should be that Intermediaries in indirect channels of distribution Often perform functions that producers cannot perform efficiently by themselves.
Accounts receivable, equipment, the building itself, and the land on which the building stands are examples of:
Answer: Assets
Explanation:
Assets are something that a business owns that is able to bring in money or is a store of value.
All the above mentioned items are considered assets as they fit this description.
Accounts receivable is a current asset which means it has a duration of a period or less.
Equipment, building and land are all fixed assets as they have a duration of more than one period.
True or false: According to the equity theory, each worker develops a personal input-output ratio to compare his or her inputs with the inputs or rewards offered by the organization.
Answer:
true
Explanation:
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The blurring of lines between the state and a special interest group in which a close alliance develops is called
Answer:
a. co-optation
Explanation:
Co-optation means the things could be taken out or are considered for the new or the different motive
Since the lines are burried and lies between the state and the special interest group in which the close alliance are created so this is we called as the co-optation
Therefore the same should be considered
