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.
Assume that as their leader, you wanted to influence minimum wage earners in a plastic bottle recycling center to work faster. Which one or two influence tactics are likely to be effective
Answer:
An effective leader is one who is able to influence his team through his communication and interpersonal skills.
In order to achieve greater speed and productivity at work, some influencing tactics that can be effective in a recycling center where workers earn a minimum wage may be associated with the leader's ability to empathize with the team, recognizing the difficulties and challenges of the work, but acting in a comprehensive, ethical way and helping them in their demands, exercising practical leadership, where the leader is the first to set a positive example of what he wants to achieve.
Suppose that a Country Club is considering what price to charge for adults. They know that if they charge a price of $100 then 70 adults will join and if they charge a price of $120 then 50 adults will join. What is the absolute value of the price elasticity of demand for adults at this Country Club
Answer:
1.43
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
Price =120 /100 - 1 = 0.2
Quantity = 50/ 70 - 1 = 0.2857
0.2857 / 0.2 = 1.43
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.
Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases
Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price
p = 0,2
=0.2857
Which of the following is NOT an accurate description of modern marketing?
Marketing involves managing profitable customer relationships.
Marketing involves satisfying customers' needs.
O Marketing is the creation of value for customers.
Marketing emphasizes selling and advertising exclusively.
O Marketing is building value-laden exchange relationships with customers.
I'm stuck between
Marketing is the creation of value for customers and
Marketing emphasizing selling and advertising exclusively l.
Thirsty Cactus Corp. just paid a dividend of $1.50 per share. The dividends are expected to grow at 25 percent for the next 9 years and then level off to a 5 percent growth rate indefinitely. If the required return is 13 percent, what is the price of the stock today?
Answer:
$143.40
Explanation:
The dividend for the next year = [tex]\text{ current year dividend} \times (1 + \text{growth})[/tex]
= $ 1.50 x (1 + 0.13)
= 1.50 x 1.30
= $ 1.95
The dividend in the second year = 1.95 x 1.30
= $ 2.54
Similarly, the dividend for the year 9 is = [tex]$1.50 \times (1.30)^9$[/tex]
= $ 15.91
The value of the stock at the end of year 9,
[tex]$=\frac{\text{Dividend of year 10}}{\text{(Required rate of return - Growth rate)}}$[/tex]
[tex]$=\frac{15.91\times1.05}{0.13-0.05}$[/tex]
= $ 208.81
The present value factor [tex]$=\frac{1}{(1+r)^n}$[/tex]
where, r = rate of interest = 13% = 0.13
n = years (1 to 9)
So, the present value factor for the 2nd year is [tex]$=\frac{1}{(1+0.13)^2}$[/tex]
[tex]$=\frac{1}{(1.13)^2}$[/tex]
[tex]$=\frac{1}{1.2769}$[/tex]
= 0.783147
Therefore, the price of the stock today is calculated as to be $ 143.40
On November 1st, Neiman Marcus at the Florida Mall signed a $100,000, 2%, eight-month note payable with all of the principal and interest due at maturity eight months later on July 1. Neiman Marcus' Store at Florida Mall should report interest payable at (year-end) December 31, in the amount of:
A bond that pays interest semiannually has a price of $941.35 and a semiannual coupon payment of $26.00. If the par value is $1,000, what is the current yield
Answer:
5.52%
Explanation:
Calculation to determine the current yield
Current yield = ($26.00 × 2)/$941.35
Current yield=$52/$941.35
Current yield= .0552*100
Current yield= 5.52%
Therefore the Current yield is 5.52%
If there is a shortage in the market, the market price is too _______________. The quantity demanded will be ________________ the quantity supplied. Thus, the market price must ____________ , which will _____________ the quantity supplied and ____________ the quantity demanded.
Answer:
low
greater
increase
increase
decrease
Explanation:
Equilibrium price is the price at which quantity demand equal quantity supplied. Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded.
Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied
When there is a shortage in the market, the market price is too low. As a result, quantity demanded exceeds quantity supplied. Shortage would lead to an increase in price towards equilibrium. This would lead to an increase in the quantity supplied and a decrease in quantity demanded
1. Drawing on discussions of informational justice, how should Andrea approach the morning briefing? Should she be honest and informative in explaining corporate actions in the downsizing, or should she be more guarded?
Answer:
Andrea should be honest and informative in explaining her corporation's actions in downsizing.
Explanation:
By being honest and forthright by providing adequate informational justice to the employees affected by downsizing, she would gain the confidence of those that will not be affected. This will ensure that the workers remain motivated and productive. Doing informational justice requires the management to provide adequate explanations and rationale for the decision made to downsize the entity's workforce.
Many economists oppose a constitutional amendment that would require a balanced budget for the federal government because it would probably make the business cycle more volatile.
a. True
b. False
Answer:
The statement is False.
Explanation:
What is a constitutional balanced budget amendment?The balanced budget amendment's requirement that total government spending cannot exceed total receipts collected in the same year has far-reaching ramifications for Social Security.
What is Balanced Budget?A balanced budget is one in which total revenues equal or exceed total costs. After a full year of revenues and expenses have been incurred and recorded, a budget can be declared balanced. Budget deficits, according to proponents of a balanced budget, burden future generations with debt.
Example of Balanced Budget-If Michael and Jessica earn $75,000 per year but spend only $70,000, they have a balanced budget because their expenses are equal to or less than their income. They can use the extra $5,000 in their budget to pay off debt or meet their savings goals in this situation.
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A 3-year bond has an 8.0% coupon rate and a $1,000 face value. If the yield to maturity on the bond is 10%, calculate the price of the bond assuming that the bond makes semiannual coupon payments.
Answer:
$738.68
Explanation:
the price of the bond is $738.68.
At the end of business on September 1, the total displayed on the cash register tape shows $1,059 of cash sales for the day. However, when the clerk and the supervisor count the cash in the register, the count reveals that $1,050 was actually collected from customers.
Complete the journal entry.
Answer:
Date Account Title Debit Credit
Sept. 1 Cash $1,050
Cash short and over $ 9
Sales $1,059
Cash short and over is calculated thus:
= 1,059 - 1,050
= $9.00
Felix's profit is maximized when he produces teddy bears. When he does this, the marginal cost of the last teddy bear he produces is $ , which is than the price Felix receives for each teddy bear he sells. The marginal cost of producing an additional teddy bear (that is, one more teddy bear than would maximize his profit) is $ , which is than the price Felix receives for each teddy bear he sells. Therefore, Felix's profit-maximizing quantity corresponds to the intersection of the curves. Because Felix is a price taker, this last condition can also be written as .
Implement a table and re-organize your page contents so that it is displayed within the table (you can organize the table's content as you like).
2) Add one external CSS file and apply it to your 2 pages (the style sheet should have at least Fonts, Color, sizing and background). The CSS should provide a uniform look/feel between the 2 pages.
Answer:
just here for points
Explanation:
iskksns
On June 10, Pais Company purchased $9,000 of merchandise from MacGyver Company, on account, terms 3/10, n/30. Pais pays the freight costs of $400 on June 11. Goods totaling $600 are returned to MacGyver for credit on June 12. On June 19, Pais Company pays McGiver Company in full, less the purchase discount. Both companies use a perpetual inventory system. Journalize perpetual inventory entries. Instructions a. Prepare separate entries for each transaction on the books of Pais Company. b. Prepare separate entries for each transaction for MacGyver Company. The merchandise purchased by Pais on June 10 cost MacGyver $5,000, and the goods returned cost McGiver $310.
Solution :
Pais Company
June 10 Inventory 9000
Accounts payable 9000
June 11 Inventory 400
Cash 400
No entry 0
June 12 Accounts payable 600
Inventory 600
June 19 Accounts payable 8400
Inventory 252 = 8400 x 3%
Cash 8148
McGiver Company
June 10 Accounts Receivable 9000
Sales revenue 9000
Cost of goods sold 5000
Inventory 5000
June 12 Sales return and allowances 600
Accounts receivable 600
Inventory 310
Cost of goods 310
June 19 Cash 8148
Sales discount 252 =8400 x 3%
Account receivable 8400
On December 30, you decide to make a $2,500 charitable donation. (Assume you itemize your deductions.) (a) If you are in the 24 percent tax bracket and you expect to itemize your deductions, how much will you save in taxes for the current year
Answer:
$600
Explanation:
Calculation to determine how much will you save in taxes for the current year
Using this formula
Tax savings = Tax rate × Tax deduction
Let plug in the formula
Tax savings= 0.24 × $2500
Tax savings =$600
Therefore how much will you save in taxes for the current year is $600
Resource X is necessary to the production of good Y. If the price of resource X falls, the equilibrium price of Y will ______________ and the equilibrium quantity of Y will ________________.
Answer:
fall
rise
Explanation:
If the cost of resource x falls, it becomes cheaper to produce good y. This leads to an increase in supply of y. the supply curve of good y shifts out. As a result, equilibrium price falls and quantity rises
True or False: It was better for the united states not to receive this foreign investment because it decreases economic growth
Answer:
False
Explanation:
When the foreign investment should received so it generally complement the capital stock of the domestic one. ALso, the foreign investment includes both macro and micro impact. Like for macro, it is good for export, imprort and for micro it improved the labor force quality
So it increased the capital and the new business opportunities
Therefore the given statement is false
Ken Jones, an architect, organized Jones Architects on April 1, 20Y2. During the month, Jones Architects completed the following transactions: Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $30,000. Purchased used automobile for $20,000, paying $4,500 cash and giving a note payable for the remainder. Paid April rent for office and workroom, $3,000. Paid cash for supplies, $1,440. Purchased office and computer equipment on account, $6,000. Paid cash for annual insurance policies on automobile and equipment, $2,000. Received cash from a client for plans delivered, $7,500. Paid cash to creditors on account, $1,740. Paid cash for miscellaneous expenses, $375. Received invoice for blueprint service, due in May, $1,000. Recorded fees earned on plans delivered, payment to be received in May, $5,200. Paid salary of assistant, $1,600. Paid cash for miscellaneous expenses, $810. Paid installment due on note payable, $240. Paid gas, oil, and repairs on automobile for April, $390.
Required:
Record the above transactions in T accounts.
Answer:
Jones Architects
T-accounts:
Cash
Account Titles Debit Credit
Common Stock, $30,000
Automobile $4,500
Rent expense $3,000
Supplies $1,440
Prepaid Insurance $2,000
Service Revenue $7,500
Accounts Payable $1,740
Miscellaneous expenses, $375
Salary Expense $1,600
Miscellaneous expenses, $810
Note payable, $240
Automobile expense $390
Common Stock
Account Titles Debit Credit
Cash $30,000
Note payable
Account Titles Debit Credit
Automobile $15,500
Cash $240
Automobile
Account Titles Debit Credit
Cash $4,500
Note payable $15,500
Rent expense
Account Titles Debit Credit
Cash $3,000
Supplies
Account Titles Debit Credit
Cash $1,440
Office and computer equipment
Account Titles Debit Credit
Accounts Payable $6,000
Accounts Payable
Account Titles Debit Credit
Office and computer equipment $6,000
Cash $1,740
Blueprint expense $1,000
Prepaid Insurance
Account Titles Debit Credit
Cash $2,000
Service Revenue
Account Titles Debit Credit
Cash $7,500
Accounts receivable $5,200
Miscellaneous expenses
Account Titles Debit Credit
Cash $375
Cash $810
Blueprint expense
Account Titles Debit Credit
Accounts payable $1,000
Accounts Receivable
Account Titles Debit Credit
Service Revenue $5,200
Salary Expense
Account Titles Debit Credit
Cash $1,600
Automobile expense
Account Titles Debit Credit
Cash $390
Explanation:
a) Data and Analysis:
Cash $30,000 Common Stock, $30,000
Automobile $20,000 Cash $4,500 Note payable $15,500
Rent expense $3,000 Cash $3,000
Supplies $1,440 Cash $1,440
Office and computer equipment $6,000 Accounts Payable $6,000
Prepaid Insurance $2,000 Cash $2,000
Cash $7,500 Service Revenue $7,500
Accounts Payable $1,740 Cash $1,740
Miscellaneous expenses, $375 Cash $375
Blueprint expense $1,000 Accounts payable $1,000
Accounts receivable $5,200 Service Revenue $5,200
Salary Expense $1,600 Cash $1,600
Miscellaneous expenses, $810 Cash $810
Note payable, $240 Cash $240
Automobile expense $390 Cash $390
In a sales contract, the passage of risk of loss from a seller to a buyer gives the buyer the right to insure the goods and the right to recover from third parties who damage them.
a. True
b. False
The statement - "In a sales contract, the passage of risk of loss from a seller to a buyer gives the buyer the right to insure the goods and the right to recover from third parties who damage them". Thus, option (a) is correct.
What is sales contract?A sales contract, customer orders, or contract for sale is a legal transaction in which a buyer purchases assets from a seller for an agreed-upon monetary value. It is an evident old practice of exchange that is currently controlled by statute law in many common law countries.
"In a sales contract, the passing of risk of loss from a seller to a buyer allows the buyer the opportunity to insure the products and the right to collect from third parties who destroy them,".
Therefore, it can be concluded that the statement mentioned above is true. Hence, option (A) is correct.
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Question 3 4 Marks Mi Tierra Driving School charges $680 per student to prepare and administer written and driving tests. Variable costs of $408 per student include trainers’ wages, study materials, and gasoline. Annual fixed costs of $63,920 include the training facility and fleet of cars. Requirements 1. For each of the following independent situations, calculate the contribution margin per unit and the breakeven point in units by first referring to the original data provided: a. Breakeven point with no change in information. b. Decrease sales price to $544 per student. c. Decrease variable costs to $340 per student. d. Decrease fixed costs to $53,040.
Answer:
Results are below.
Explanation:
Giving the following information:
Selling price= $680
Unitary variable cost= $408
Fixed cost= $63,920
To calculate the contribution margin and break-even point in units, we need to use the following formula:
Unitary contribution margin= selling price - unitary variable cost
Break-even point in units= fixed costs/ contribution margin per unit
a:
Unitary contribution margin= 680 - 408= $272
Break-even point in units= 63,920 / 272
Break-even point in units= 235
b:
Unitary contribution margin= 544 - 408= $136
Break-even point in units= 63,920 / 136
Break-even point in units= 470
c:
Unitary contribution margin= 680 - 340= $340
Break-even point in units= 63,920 / 340
Break-even point in units= 188
d:
Unitary contribution margin= 680 - 408= $272
Break-even point in units= 53,040 / 272
Break-even point in units= 195
MC Qu. 98 At the beginning of the recent... At the beginning of the recent period, there were 1,470 units of product in a department, 35% completed. These units were finished and an additional 6,900 units were started and completed during the period. 1,560 units were still in process at the end of the period, 25% completed. Using the weighted average method, the equivalent units produced by the department were:
Answer:
Using the weighted average method, the equivalent units produced by the department were:
= 8,760 units.
Explanation:
a) Data and Calculations:
Units Conversion
Ending inventory 1,560
Units completed 8,370
Units available 9,930
Beginning inventory 1,470 35%
Additional units started 8,460
Equivalent units of production:
Units completed 8,370 8,370 (100%)
Ending inventory 1,560 390 (25%)
Equivalent units of production 8,760
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:
The equilibrium hourly wage is the wage where the curve of supply of labor intersects with that of the demand for labor. The same goes for the equilibrium quantity of labor.
The equilibrium hourly wage is $10, and the equilibrium quantity of labor is 450 thousand workers.
If a Senator introduces a minimum hourly wage, this is considered a Price Floor.
Price floors are prices that that the government mandates that one cannot charge below for a good or service. If there is a price floor on cake for instance, a person is not allowed to charge less than that price floor for cake. The Senator's bill is therefore saying that people should not be paid less than $6 an hour.
Consider the following gasoline sales time series data. Click on the datafile logo to reference the data.
Week Sales (1000s of gallons)
1 16
2 20
3 20
4 23
5 18
6 17
8 19
9 23
10 19
11 14
12 21
a. Using a weight of 1/2 for the most recent observation, 1/3 for the second most recent observation, and 1/6 the most recent observation, compute a three-week weighted moving average for the time series (to 2 decimals). Enter negative values as negative numbers.
Week
Time-Series Value Weighted Moving
Average Forecast Forecast
Error
(Error)2
1
2
3
4
5
6
7
8
9
10
11
12
Total
b. Compute the MSE for the weighted moving average in part (a).
MSE =
Do you prefer this weighted moving average to the unweighted moving average? Remember that the MSE for the unweighted moving average is 8.90.
Prefer the unweighted moving average here; it has a (greater/smaller) MSE.
c. Suppose you are allowed to choose any weights as long as they sum to 1. Could you always find a set of weights that would make the MSE at least as small for a weighted moving average than for an unweighted moving average? (Yes/ No)
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
Amanda is playing a game of chance in which she rolls a number cube with sides numbered from to 1 to 6. The number cube is fair, so a side is rolled at random. This game is this: Amanda rolls the number cube once. She wins $1 if a 1 is rolled, $2 if a 2 is rolled, $3 if a 3 is rolled, and 4 if a 4 is rolled. She loses $0,50 if a 4, 5 or 6 is rolled.
(a) Find the expected value of playing the game.
(b) What can Elsa expect in the long run, after playing the game many times?
1) Elsa can expect to gain money. She can expect to win__dollars per roll.
2) Elsa can expect to lose money. She can expect to lose___dollars per roll.
3) Elsa can expect to break even (neither gain nor lose money).
Answer:
a. 0.75
b. elsa can expect to gain money. 0.75$
Explanation:
x = 1/6 = 0.166667
given an outcome of 1,
1$ win * 0.166667 = 0.166667
given an outcome of 2,
$2 win * 0.166667 = 0.33333
given an outcome of 3,
$3 win*0.166667 = 0.5
remember that if she has an out come of 4, 5 and 6 she loses 0.5 dollars
given an outcome of 4,
-$0.5 * 0.166667 = -0.083333
given an outcome of 5,
-$0.5 * 0.166667 = -0.083333
given an outcome of 6,
-$0.5 * 0.166667 = -0.083333
The expected value of playing the game = 0.166667+0.333333+0.5-0.083333-0.083333-0.083333
= 0.750001
expected value of plying game = 0.75
b. in the long run, after playing the game many times, Elsa can expect to gain money. she can expect to win 0.75$ per role. option 1
Which of the strategies to enter global markets do you think would be best for a small, 100 person company manufacturing special dog collars
Answer:
Exporting by means of:
Local representative Online salesExplanation:
It would be best that the company engages in exports for the time being because it dos not require much funds to be used and so expenses are less.
The company could find a local representative in the countries that it would like to sell to and use that representative as a middleman to sell their goods there.
The company could also cut out the middle man and directly sell to consumers on the internet through websites dedicated to the sale of their kind of goods.
Prior to recording adjusting entries, the Office Supplies account had a $490 debit balance. A physical count of the supplies showed $175 of unused supplies available. The required adjusting entry is: debit/credit [ Select ] to [ Select ] account for [ Select ] debit/credit [ Select ] to [ Select ] account for [ Select ]
Answer: See explanation
Explanation:
Based on the information that's provided in the question, the required adjusting entry goes thus:
Unadjusted ending balance of supplies = $490
Actual supplies ending balance existing physically = $175
From the information above, the supplies used during the period will be:
= $490 - $175
= $315
Therefore,
Debit office supplies expenses $315 Credit office supplies account $315
The electronic invoicing and payment (EIPP) system for the B2B environment is similar to the electronic bill presentment and payment (EBPP) system for the B2C environment. a) True b) False
Answer:
a) True
Explanation:
Electronic bill payment and presentment (EBPP) can be regarded as process that is been utilized by
companies in collection of payments electronically by utilization of systems such as Automated Teller Machines (ATMs) as well as Internet and direct-dial access. This has turned to a core component of online banking as regards to some financial institutions today, some industries such as telecommunications and insurance providers make use of it.
Electronic invoicing and presentment payment (EIPP) can be regarded as process involving sending of electronic invoice to customers using the internet, as well as the ability of customers to be able to pay that invoice online also. It give a solution that brings about increased productivity, as well as given room for business owner to spend more time in developing their business as well as relationships with their customers.
It should be noted that the The electronic invoicing and payment (EIPP) system for the B2B environment is similar to the electronic bill presentment and payment (EBPP) system for the B2C environment.
Lucy has been the sole shareholder of a calendar year S corporation since 1980. At the end of 2011, Lucy's stock basis is $23,500, and she receives a distribution of $25,000. Corporate level accounts are computed as follows.
AAA 7,000
PTI 11,000
Accumulated E&P 600
How much capital gain, if any, will Lucy have?
a. $600
b. $7,000
c. $6,400
d. $900
e. None of the above
Answer: d. $900
Explanation:
Capital gain = Total distribution - AAA as this isn't taxed - Accumulated E&P - PTI which isn't taxed either - Stock basis
Stock basis = Stock basis - AAA - PTI
= 23,500 - 7,000 - 11,000
= $5,500
Capital Gain = 25,000 - 7,000 - 600 - 11,000 - 5,500
= $900
A cleaning product company is having trouble with the pH control of one of their products. The product should be slightly basic but the pH is too high. What could the company try to correct the pH of the product
Answer:
sodium hydroxide to raise and acidic solutions to drop ph
Explanation:
how to lower and make highee
One of the best sources of precall information is a prospect's own salespeople because they empathize with the salesperson's situation.
a. True
b. False
Answer:
a. True
Explanation:
In the case when the information is precalled so here the sources that considered to be best should be the own salespeople as it would emphathize the situation of the sales person
So as per the given situation, the given statement is true
Hence, the option a is correct
Therefore, the second option is wrong
