In this market, the equilibrium hourly wage is $ , and the equilibrium quantity of labor is thousand workers. Suppose a senator introduces a bill to legislate a minimum hourly wage of $6. This type of price control is called a .

Answer:

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Explanation:

god blessed

Answer:

Consumers should choose to take the flight.

Explanation:

The price of a rental car = $50

Marginal utility from the car = 20 utils

Now find the per dollar utility from car = $50 / 20 = 2.5

The price of a flight = $85

Marginal utility from the flight = 30 utils

Now find the per dollar utility from flight = $85 / 30 = 2.83

Since the per dollar, MU is greater in the case of flight so consumers should choose to take the flight.

Answer:

Pareto chart

Explanation:

A Pareto chart can be regarded as bar graph, The lengths of the bars are been arranged having longest bars on the left, on the right is the shortest bar, with this arrangement the chart visually gives a depiction about which situations are more significant. The lengths of the bars gives a representation of frequency or representation of cost i.e time or money. It should be noted that Pareto chart is the tool within the "Assessing Opportunities" step of the Strategic Sourcing Process that graphically orders categories of numerical data in descending order so that the most important categories are easily recognized.

The tool within the "Assessing Opportunities" step of the Strategic Sourcing Process that graphically orders categories of numerical data in descending order so that the most important categories are easily recognized is called a Pereto chart

A Pareto chart is simply known to be a type of chart that has bars and a line graph. It is the point where individual values are shown in descending order by bars, and the cumulative total is shown by the line.

Conclusively, the charts are used to show areas to focus on first in process improvement.

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Answer:

c. $25,000

Explanation:

Calculation to determine At the end of the year, the company's equity totaled:

First step is to calculate the Net income using this formula

Net income= Revenues- Expense

Let plug in the formula

Net income= 35000-23000

Net income=12000

Second step is to calculate Net income added to capital using this formula

Net income added to capital = Net income-Cash dividend

Let plug in the formula

Net income added to capital=12000-2000

Net income added to capital=10000

Now let determine the Ending company total equity using this formula

Ending company total equity= Opening invested capital + Net income added to capital

Let plug in the formula

Ending company total equity=15000+10000

Ending company total equity=$25000

Therefore At the end of the year, the company's equity totaled:$25,000

Answer:

The answer is "use more capital, less labor".

Explanation:

labor price [tex](PL) = \$7\\\\[/tex]

Capital price [tex](PK) = \$10\\\\[/tex]

Marginal product of labor: [tex](MPL) = 20\\\\[/tex]

Marginal product of capital: [tex](MPK) = 30\\\\[/tex]  

Calculating the ratio of the product marginal labor and labor price:

[tex]= \frac{MPL}{PL} = \frac{20}{7} = 2.86\\\\[/tex]

Calculating the ratio of the product marginal capital and capital price:

[tex]= \frac{MPK}{PK} = \frac{30}{10} = 3\\\\[/tex]

The company maximises profit using the quantity of work and capital that matches the necessary responsibilities.

[tex]\frac{MPL}{PL} = \frac{MPK}{PK}[/tex]

However, in the given case,

[tex]\frac{MPL}{PL} < \frac{MPK}{PK}[/tex]

In this instance, therefore, the business should raise the quantity of capital and cut the quantity of effort.

Answer: c. greater because interest rate changes have a greater impact on distant cash flows than near-term cash flows.

Explanation:

Interest rate changes have a greater impact on distant cashflows because those cashflows will be exposed to the interest rates for longer. This means that they will be subjected to more discounting than a cashflow that is due in one year which would be subject to only a single year of discounting.

For instance, assume the required rate of return for two investments is 10%. One investment yields $10,000 in 20 years and another yields $10,000 in 2 years .

The present value of both are:

= 10,000 / (1 + 10%)²⁰                                                  = 10,000 / ( 1 + 10%)²

= $1,486.43                                                                  = $8,264.46

Notice the difference. The longer term investment was more exposed to interest rate effects.

Answer:

Part a

historical cost = this is when we carry assets and liabilities at cost less accumulated depreciation or amortization.

fair value = this is when we carry assets and liabilities at amount that they could be exchanged for at arms length between market participants

Part b

Historical Cost

Merits : Value are easy to obtain since they are generated internally

Demerits : Is not very accurate.

Fair Value

Merits : Accurate method as it reflects market situation

Demerit : Costly as data and information is obtained externally

Part c

Assets : Investment Property and Financial assets measured through Profit and Loss

Liabilities : Bonds

Part d

Income is shown more accurately and eliminates biases form estimates.

Explanation:

Historical Method carries assets and liabilities at cost less accumulated depreciation or amortization while Fair Value Model carries assets and liabilities at amount that they could be exchanged for at arms length between market participants

Answer:

Groupo

  Transaction Price      When to recognize revenue

a.    $908,000              Delivery Time

b.    $797,000              30 days' time

c.    $462,200              18 months and 24 months' time

Explanation:

a) Data and Analysis:

a. $908,000 Delivery Time

b. $797,000 30 days' time

c. $462,200 18 months and 24 months' time

b) For the goods sold on installment sales, the payments are also deferred.  Therefore, the seller does not recognize any gain until installments are received.  Since installment sales encompass much longer time periods compared to credit sales, there are no discounts offered for early payments. The seller in an installment sales maintains an ownership interest in the goods sold until the buyer pays the balance due in full.

Answer and Explanation:

The correcting journal entries are shown below:

a. Cash Dr $774

     To account payable $774

(Being purchase of supplies on account is recorded)

b. Wages expense Dr $475

        To rent expense $475

(Being wages expense is recorded)

c. Account payable $396

    To Supplies $196

    To cash $200

(being cash paid is recorded)

These 3 correcting entries should be recorded

Answer: The actual cost of materials was less than the standard cost

Explanation:

Net materials cost variance = Favorable materials price variance + Favorable materials quantity variance

= 380 + (-120 unfavorable)

= 380 - 120

= $260 favorable

As the materials cost variance is favorable, it means that the actual cost of materials was less than what was budgeted for it or rather its standard cost.

Answer:

Future value = $22172.56

Explanation:

Below is the given values:

Deposit made at the end of each quarter = $1100

Interest rate = 12% or 12% / 4 = 3%

Number of year = 4years

Number of compounding period = 4 x 4 = 16

Future value = Annuity x [ (1 + r)^n - 1] / r

Future value = $1100 x  [ (1 + 3%)^16 - 1] / 3%

Future value = $22172.56

Answer:

Larry Riley v. Iron Gate Self Storage

The result in the above-mentioned case was that judgment was entered in favor of Iron Gate.

Explanation:

The known facts are that after missing payments, Iron Gate auctioned Riley's storage unit items off, causing Riley to sue Iron Gate, in which he alleged to have suffered a $1.5 million in damages, whereas the storage unit was only allowed to hold $5,000.  In its ruling, the court determined that self-storage facilities are not an essential or necessary public service. Therefore, it dismissed any procedural unconscionability.  Thus, judgment was entered in favor of Iron Gate.

Answer:

Andrews's ROE would decrease

Explanation:

Return on equity is an example of a profitability ratio.

Profitability ratios measure the ability of a firm to generate profits from its asset

Return on equity = net income / average total equity

Using the Dupont formula, ROE can be determined using:

ROE = Net profit margin x asset turnover x financial leverage

ROE = (Net income / Sales) x (Sales/Total Assets) x (total asset / common equity)

If asset turnover decreases and other ratios remain constant, ROE declines

Answer:

any three examples of non-insurable risks are:

Residential overland water

War.

Acts of a foreign enemy.

Answer:

Faces unlimited liability

Explanation:

From the question we are informed about instance, whereby you set up a sole proprietorship and your lawyer tells you that as the owner, you could stand to lose your personal wealth if the business goes bankrupt. In this case, it means a sole proprietorship Faces unlimited liability. Unlimited liability can be regarded as full legal responsibility that is been assumed for all business debts by business owners as well as partners . This liability cannot be regarded as capped, here there could be paying of obligations through the seizure as well as well as sale of personal assets of the owners, and this quit not the same as that of limited liability business structure.

Answer:

Set up= $18 per set up

Explanation:

Giving the following information:

Activity Pool Activity Base Budgeted Amount

Setups 10,000 $180,000

To calculate the activity rate, we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Set up= 180,000 / 10,000

Set up= $18 per set up

Answer:

250 dollars

Explanation:

Variable cost = 1190-710/94-46

= 480/48

= 10 dollars

Fixed cost = 1190-(10*94)

= 1190-940

= 250 dollars

Fixed cost = 710-(10*46)

= 710-460

= 250 dollars

Answer: increase; increase by more than $100 million

Explanation:

If the government lowers tax rates and tax revenue falls by $100 million, we can expect consumption spending to increase and equilibrium output to increase by more than $100 million.

It should be noted that when there's reduction in tax rate, this implies that there'll be more money available to the households and the firms and this will then lead to more money which can be spent on goods or services. Also, due to this, the equilibrium output will increase as well by more than $100 million.

Answer:

5.00

Explanation:

The rate of return for the investor can be determined using a holding period rate of return bearing in mind that the investor would incur a cash outflow of  $1,054.47  whereas the investor would receive $1,037.19 and an annual coupon of 7% of the face value

holding period return=(selling price+annual coupon-purchase price)/purchase price

annual coupon=7%*$1000

annual coupon=$70.00

holding period return=($1,037.19+$70.00-$1,054.47)/$1,054.47

holding period return=5.00%

Answer:

a) attached below

b) MSE for weighted moving average = 14.5

c) Yes

Explanation:

a) Computing a three-week weighted moving average using

1/2 for most recent , 1/3 for second most recent and 1/6 for third most recent  observation

Given data :

Week      Sales (1000s of gallons)

1                16

2               20

3                20

4                23

5                18

6                17

7               19

8              23

9              19

10              14

11               21

solution attached below

B) Determine MSE for the weighted moving average

MSE = ∑ (error)^2 / 8

        = 116.0289 / 8 = 14.50

The MSE for unweighted moving average ( 8.90 ) is smaller than the MSE for weighted moving average

C) Yes I will find a weight that makes at least the MSE for weighted moving average than unweighted moving average

Answer:

8 units

Explanation:

P = $68 per unit

MC = 9q

Fixed cost = $60

It is noted that seller can sell as much as a product at $68 per unit. This means that the firm is price taken, hence, it is case of perfect competition.

For a perfectly competitive firm, the optimal output is at: P = MC

i.e. 68 = 9q

=> q = 68/9

=> q = 7.556

> q = 8

So, the optimal output level is 8 units.

Answer: Standards of the country they operate in

Explanation:

Various countries have differing norms on what is legally, socially, morally and culturally acceptable. In order to be able to operate in those countries, companies would have to adapt to these requirements in order to maximize business operations.

It would therefore be illogical to judge these overseas operations in terms of the U.S. market which would be different from them. They should be judged on their own merit and then a standardizing factor can be used to relate them to the U.S. market to see whether they are performing well given their unique circumstances.

Answer:

Decrease logistics support requirements.

Explanation:

Decrease logistics support requirements is the correct answer because the increase in reliability decreases the requirement to correct the commodity or equipment. Therefore, the logistic support decreases which further decreases the manpower waste. Additionally, the good reliability shows that the product's quality is good and it will work efficiently for a longer time period. Thus, a good quality product requires less logistic support.

Reliability is a quality of being trustworthy and in performing constantly well. It result in measurement and calculations and tends to be more accurate.

Hence the option A is correct.

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Answer:

Frictional unemployment occurs when people decided to leave their jobs and look for another or people join the labor force for the first time.

Structural unemployment arises from a situation where there is a mismatch between the skills needed in an economy and the skills possessed by people. Happens a lot when employees need to adapt to new technology.

Cyclical unemployment happens as a result of the economy either growing or shrinking.

a. Andrew recently lost his job as an accountant for a large firm because he only knows how to perform the job using a general ledger (paper and pencil), and has been unwilling to learn how to use newly invented accounting software provided by the company. ⇒ STRUCTURAL UNEMPLOYMENT.

b. Sam recently lost his job as an accountant for a large firm because he only knows how to perform the job a using a general ledger and has been unwilling to learn how to use newly invented accounting software provided by the company. ⇒ STRUCTURAL UNEMPLOYMENT.

c. Teresa just graduated from college and is looking for a full time position with an investment banking firm. ⇒ FRICTIONAL UNEMPLOYMENT.

d. A recent recession has reduced the number visitors to a local theme park. The park has had to lay off many of its employee, including Beth. ⇒ CYCLICAL UNEMPLOYMENT.

Answer: B. Company A’s bond is priced lower than Company B’s and Company B’s bond is traded at a premium

Explanation:

Discount bond ⇒ Bond coupon rate is less than yield which leads to bond having a lower than par price.

Premium bond ⇒ Bond coupon rate is more than yield which leads to bond having higher than par price.

Company A therefore has a discount bond that has a low price compared to Company B which has a premium bond which means that its price is relatively high.

Company B's bond is therefore priced higher than Company A's bond.

Answer: Forward Integration

Explanation:

Forward integration is a process where a company takes over the control of another company that is further along in the value chain so that it might be able to sell or distribute is goods more effectively. For example, an oil company taking over a petroleum products company.

In this scenario, the Brazilian company purchased a huge part of a company further along in distribution in order to facilitate better sales so this is forward integration.

Answer:

1. government shoud increase price by 50%. so it would be $3

2. larger effect 5 years from now

3. this is true due to their limited finance compared to adults

Explanation:

1. prices elasticity = % change in quantity demanded ÷ % change in price

price elasticity = 0.4

% change in dmd = 20%

% change in price = ?

[tex]0.4=\frac{0.20}{?}[/tex]

we cross multiply

? = 0.20/0.4

= 0.5

= 50%

so if the government wants to reduce smoking by 20%, it has to increase the price of cigarettes by half of its price= $2 + $1 = $3

2. goods usually have more elastic demand as time goes on. So if cigarette price is permanently raised, it would have a bigger effect five years from now. This is based on the fact that the people may not feel short run effect of the increase as they would in the long run. But gradually given this increase, people may start to gradually reduce their smoking.

3. The effect of the change in price would be more felt on the teenagers. this is due to the fact that they have limited financial strength compared to adults. Also they are new to smoking compared to the adults and are more likely to be less involved in the habit.

Answer:

$11,009

Explanation:

Calculation to determine The amount due on the maturity date

Amount due =10900 x .06 x 1/6 = $109 + $ 10900

Amount due=$11,009

Therefore The amount due on the maturity date is $11,009