T/F a large organization is struggling to close the gaps in skill levels that exist between its employees and those from competing companies.

Answers

Answer 1

The best thing a firm can do to reduce the skills gap between its employees and the competition is to design and implement a training programme to enhance and develop employees' talents so that they are competitive with others.

What is competition in business?

Competition is a condition in a market when businesses or sellers compete with one another for customers' business in an effort to attain a certain business goal, such as earnings, sales, and/or market share. In this context, rivalry and competition are frequently used interchangeably. Economic fundamentals show that when businesses must compete for customers, the result is cheaper pricing, better goods and services, more variety, and more innovation. Not just in product markets, but also in labour markets, competition is essential. These companies compete in the same market by providing comparable (or identical) goods and services. They compete for the same clientele as well. Examples of direct competitors that are well-known are Apple and Android, Pepsi and Coca-Cola, and Netflix and Hulu.

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Related Questions

which statement below is true concerning a perpetual iventory system
a. It allows for the determination of cost of goods sold after each sale.
b. It requires a physical inventory count to determine the cost of goods on hand.
c. Cost of goods sold is determined based on a physical count at the end of the period.
d. It is used infrequently due to the high cost of determining the cost of goods acquired.

Answers

It enables the assessment of the cost of products sold after each sale in a perpetual inventory system. Thus, the correct option is (a) It allows for the determination of the cost of goods sold after each sale.

What exactly is a perpetual inventory system?

A perpetual inventory system, also known as a continuous inventory system, is an inventory system in which information on inventory amount and availability is updated on a continuous/real-time basis as a result of doing business. Most of the time, this is accomplished by connecting the inventory system to order entry and, in the case of retail, the point of sale system. Book inventory would be equal to, or nearly equivalent to, real inventory in this case.

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The service contract act was enacted to protect economies in the geographical areas where the contract is performed. From the following statements, select the correct statement pertaining to the Service Contract Act:
A) The Service Contract act applies to all service contracts performed in the US with an estimated value under $10,000.
B). The Contracting Officer determines prevailing wage rates on service contracts subject to the service contract act.
C) The Service contract act allows the COR to be the final authority for labor matters.
D) The department of Labor is responsible for the enforcement of the Service contract act

Answers

The service contract act was enacted to protect economies in the geographical areas where the contract is performed. The correct statement pertaining to the Service Contract Act is "The department of Labor is responsible for the enforcement of the Service contract act." Option (d) is correct.

What do you mean by Contract?

A legally enforceable agreement between two or more parties known as a contract establishes, clarifies, and regulates the parties' respective rights and obligations.

Every agreement made by the United States or the District of Columbia with the primary aim of providing services in the US using service personnel is covered by the Service Contract Act.

Therefore, Option (d) is correct. The correct statement pertaining to the Service Contract Act is "The department of Labor is responsible for the enforcement of the Service contract act."

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despite all the litigation, and ambiguity, at the end of the day, it was very clear that the sukuk was an equity instrument.

Answers

Sukuk are Shariah-compliant instruments that are used as an alternative to conventional bonds in the modern capital market.

In theory, sukuk are a type of equity because they are certificates that grant holders ownership of an asset or pool of assets or a claim to its cash flows. In practice, they are known as Islamic bonds because their investors hold debt.

Following the question of whether Sukuk is debt or equity, the purpose of this paper is to classify Sukuk from the standpoint of regulatory bodies and credit rating agencies. Furthermore, the extent to which the innovations in this Islamic instrument distinguish it from conventional bonds in practice will be investigated.

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Auditors should design the written audit plan so that:

Multiple Choice

substantive tests prior to the balance sheet date will be minimized.

each account balance will be tested under either tests of controls or tests of transactions.

the audit procedures selected will achieve specific audit objectives.

all material transactions will be selected for substantive testing.

Answers

Auditors should design the written audit plan so that: the audit procedures selected will achieve specific audit objectives. Option C

What are Auditors?

In most cases, a firm's auditing duties may be carried out either by a person or by a separate organization that has been given that role by the company.

A person must either be certified by the accounting and auditing regulatory body or meet a set of prerequisite credentials in order to be qualified to carry out the duties of an auditor.

Both of these options are required for a person to be qualified to carry out the duties of an auditor.

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vango, inc. bought a new delivery van during the year. which of these costs should be expensed as ordinary repairs and maintenance? (check all that apply.)

Answers

As Vango, inc. bought a new delivery van during the year, the costs that should be expensed as ordinary repairs and maintenance includes:

B. $900 for cleaning the van during the year.D. $100 oil change on van.

What are ordinary repairs and maintenance?

In a company, an ordinary repairs and maintenance refers to those activities that owners or users of fixed assets are obliged to undertake periodically in order to be able to utilize such assets over their expected service lives.

These are the current costs that cannot be avoided if the fixed assets are to continue to be used. But, the owner or user of these assets cannot afford to neglect maintenance and repairs as the expected service life may be drastically shortened otherwise.

A maintenance and repairs cost do not change the fixed asset or its performance, but simply maintain it in good working order or restore it to its previous condition in the event of a breakdown.

Missing options " - $40,000 cost of the van - $900 for cleaning the van during the year - $2,000 paid to install shelves inside the van - $100 oil change on van"

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Shannon Reeves and Tish Phillips remember their experiences with student protests in the 1960s. Shannon remembers seeing Jimi Hendrix at Woodstock, and Tish remembers burning her bra in front of the central administration building at Yale. These memories about cultural heroes and events are one of the chief characteristics of an age ________.
cohort

Answers

These memories about cultural heroes and events are one of the chief characteristics of an age cohort.

What does a cohort mean?

A cohort is a group of people who have similar demographic traits or life experiences, such as age but not exclusively. Cohort effects are typically masked by age in cross-sectional research. Cohorts can be, for instance: individuals who had children in the same year. People who retire simultaneously.

What characteristics do cohort study have?

The distinguishing characteristic of a cohort study is that the researcher selects participants at a time when they do not yet have the desired outcome and examines the occurrence of the desired outcome between groups of exposed and unexposed (or less exposed) people.

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Monopolistic competition differs from perfect competition because in monopolistically competitive markets.

Answers

While perfect competition occurs when buyers and sellers are numerous, knowledgeable about the market, and sell homogeneous goods, monopolistic competition is a sort of imperfect competition in which a large number of sellers provide differentiated products that are not perfect replacements.

What is a monopoly?

A scenario known as monopoly occurs when there is only one seller in the market. The monopoly case is viewed as the polar opposite of perfect competition in conventional economic analysis. The industry's downward-sloping demand curve is, by definition, the demand curve that the monopolist faces. A market arrangement known as a monopoly has just one seller or producer. A monopoly restricts the number of product alternatives accessible and makes it difficult for rivals to enter the market. Monopolies may result in dishonest business practises. A monopoly has three key characteristics, which are: several buyers and a single vendor. No product that comes close to it. Strong obstacles to new enterprises' entry.

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in cell g12, write a formula that uses the alternate 1 flat tax rate to determine the total dollar value of the tax for the income in cell b12.

Answers

In cell G12, compose a recipe to compute the complete duty sum for Substitute 1 on the pay in cell B12. Utilize the HLOOKUP capability to decide the Other 1 level assessment rate for the pay in cell B12 and afterward duplicate by the pay to get the dollar sum owed.

Ensure you have utilized outright references suitably and afterward   cell autofill down.

In cell H12, compose a recipe to compute the complete duty sum for substitute 2 on the pay in cell B12. Utilize the HLOOKUP capability to decide the Other 2-level assessment rate for the pay in cell B12 and afterward duplicate the pay to get the dollar sum owed. Assuming that done appropriately the outcome in H12 ought to be 16,528.

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Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demand for these two cameras are as follows (DS = demand for the Sky Eagle, Ps is the selling price of the Sky Eagle, DH is the demand for the Horizon and PH is the selling price of the Horizon): Ds = 215 - 0.6PS + 0.25PH DH = 270 + 0.1Ps - 0.55PH The store wishes to determine the selling price that maximizes revenue for these two products. Develop the revenue function for these two models. Choose the correct answer below.
Find the prices that maximize revenue. If required, round your answers to two decimal places. Optimal Solution: Selling price of the Sky Eagle (Ps): $
Selling price of the Horizon (PH): $
Revenue: $

Answers

The revenue is produced by the product of pricing and demand: Sky Eagle's revenue function is RS = 229 PS - 0.60 PS2 + 0.35 PSPH, while Horizon's revenue function is RH = 269 PS + 0.10 PSPH - 0.64 PS2.

Where does the maximum amount of revenue occur?

The point at which revenue is maximized is when marginal revenue is equal to 0. It happens in our situation when the 6 qty are sold. At this moment, total revenue is likewise high. After this moment, even if the quantity sold is increased, the revenue will not be at its highest.

The variables mentioned are;

DS = 229 - 0.60 PS + 0.35 PH is the demand function for the Sky Eagle.

The DH = 269 + 0.10 PS - 0.64 PH demand function for the Horizon

The quantity demanded is given by the aforementioned demand functions: Consequently, the following is the revenue function, which is obtained by multiplying the price by the demand function:

RS = PS * DS = PS * (229 - 0.60·PS + 0.35·PH) is equal to 229·PS - 0.60·PS² + 0.35·PS·PH

The revenue for Sky Eagle RS is calculated as follows: 229PS - 0.60PS2 + 0.35PSPH; Following are the revenue figures for Horizon:

The maximize revenue for Horizon, RH = 269·PH + 0.10·PS·PH - 0.64·PH².

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a nike salesperson is informed by a retailer that ten pairs of shoes are damaged and cannot be sold. after looking at the merchandise, the salesperson determines the damage occurred during the packaging process. what should the nike salesperson do to handle this situation?

Answers

The salesperson determines that the damage happened during the packaging process, so Nike returns the product and issues a refund to deal with the issue.

What does it mean to be a salesperson and what it do?

A salesman or saleswoman is a person whose job it is to sell goods or services within a specific territory, at a store, or over the phone. Simply put, a salesperson builds a company's reputation while promoting its products or services. From the initial lead outreach to the actual purchase, they manage customer relationships and act as the primary point of contact.

What are main duties of salesperson and type of job is it?

Using persuasion to sell products and services to prospective customers. Examining the advantages and disadvantages of present and prospective clients. Maintaining productive business relationships to ensure future sales.

A sales position entails attempting to persuade clients to purchase a good or service. People who want to work in sales have a variety of job options available to them because many businesses rely on salespeople to market their products and services.

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Which of the following was not identified in the textbook as one of the day-to-day challenges involved with growing a firm?
A) Cash flow management
B) Channel conflict
C) Capital constraints
D) Quality control
E) Price stability

Answers

Channel conflict was not mentioned in the textbook as a day-to-day problem of building a business. Thus, the correct option is (B) Channel conflict.

What is the meaning of Channel conflict?

Channel conflict occurs when manufacturers offer their products directly to customers using general marketing means and/or the Internet, bypassing their channel partners such as distributors, retailers, dealers, and sales reps. When there is overproduction, channel conflict might arise. As a result, there is an excess of products. Newer product versions, changes in trends, wholesaler and retailer bankruptcies, and the distribution of defective items all have an impact on channel conflict. In this regard, a company's stock clearing plan is critical.

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FITB campaigns will sometimes hire actors who pretend to be concerned citizens at corporate or government meetings where they present false testimonials.

Answers

This claim is untrue. Sometimes, astroturfing campaigns will use actors to offer fabricated testimonies at business or governmental meetings while they pose as concerned individuals.

What is an astroturf campaign?

Astroturfing is the use of phony grassroots efforts to alter public opinion. These campaigns are frequently funded by businesses and governments.In essence, "false grassroots" movements are what astroturfing is. It is a planned effort intended to elicit widespread support for a cause, concept, movement, product, etc. Its name comes from the kind of artificial turf known as Astroturf, which is frequently used in sporting events in place of actual grass.

What separates lobbying on AstroTurf from grassroots lobbying?

True grassroots activity often tends to be resource-rich but cash-poor, in contrast to astroturf operations, which are frequently people-poor but cash-rich. The lobbyists in charge of this activism often work for non-governmental groups and political PR agencies.

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For the last 20 years, terry has made regular quarterly payments in the amount of $308 into an account paying 1. 5% compounded quarterly. If, at the end of the 20 year period, terry stops making deposits, transfers the balance to an account paying 5. 5% interest compounded annually, and withdraws a annual salary from the account, determine the amount that he will receive every year for 10 years. Round to the nearest cent.

Answers

$3,803.97 The amount that he will receive every year for 10 years. Round to the nearest cent.

Deposits? What do you mean?

When we add money to your bank account, you make a deposit. You should deposit funds in a bank in order to accumulate savings and earn interest. A request bank is made for money with which you can withdrawal at any time. A deposit free is a long-term investment. You could also put up a deposit in exchange for the loan as collateral.

FV=PV(1+r)n

r= Interest Rate per annum

N= Period=Number of years

For Eg: Let Say We have Rs. 100, Interest rate or Inflation Rate(Technically Known as Discounting Rate)=10%, Year=1

Future Value = 100(1+10/100)1

Future Value= 100(1.1)=110

If We want to know value of money after 2 Years,

Future Value = 100(1+10/100)2

Future Value= 100(1.1)2

Future Value= 100(1.21)=121

Describe a deposit example:

An amount maintained in such a bank account is known as a deposit. Demand deposits and fixed deposit are the two categories of deposits.

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which of the following refers to a company's suppliers, the suppliers' suppliers, and the processes for managing relationships with them?

Answers

The upstream portion of the supply chain refers to a company's suppliers, the suppliers' suppliers, and the processes for managing relationships with them. Thus, option (a) is correct.

What is company's?

The term "company" refers to legal entities that are lawfully registered under the Company Act. The company's major goal is to increase profits while maintaining goodwill. With the assistance of management, the organization was flawlessly run. Employees are compensated by the company.

The upstream component of the flow is distinct from the downstream portion because the upstream portion is made up of transmission means that connect the company's to its customers.

Therefore, option (a) is correct.

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Your question is incomplete, but most probably the full question was.

A. upstream portion of the supply chain.B. downstream portion of the supply chain.C. supplier's internal supply chain.D. external supply chain.

data on the distribution of income for the united states show that from 1970 through 2014, the share of income earned by the top quintile , and the share earned by the bottom quintile

Answers

Rose; Fell, A statistical measurement of how many people earn or receive different amounts of income, the distribution of income is just that.

What has changed in the United States' income distribution during the 1970s?

Since the middle of the 1970s, income inequality has gotten progressively worse to the point where 90 percent of the population hasn't really experienced much income growth in real terms for the past 45 years, whereas those at the top of the distribution have experienced much, much faster income growth.

How has the distribution of income changed in the US?

In other words, the top of the income distribution earned 13.53 times as much as the bottom, a rise of 4.9% from 2020. Additionally, the gap between the middle and bottom of the income distribution grew, going from 4.34 in 2020 to 4.52 in 2021, an increase of 4.0%.

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The complete question is:

Data on the distribution of income for the united states show that from 1970 through 2014, the share of income earned by the top quintile ______ , and the share earned by the bottom quintile _______

GDP and GNP are identical when a exports and imports exactly balance. b. all domestic production is by domestically owned producers and no foreign production is carried out by domestic producers. c. production by domestic producers in other countries is greater than production by foreign producers domestically. d. there are no taxes.

Answers

GDP and GNP are identical when all domestic production is by domestically owned producers and no foreign production is carried out by domestic producers. (Option B)

What is GDP and GNP?

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

The expenditure method can be used to calculate gross domestic product: Consumption spending + Investment spending + Government spending + Net export

Gross national product (GNP) is the gross domestic product less income of foreigners in a country plus income from nationals.

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17. Delivering a public information safety campaign is
A. Is not a role played by a PIO
B. Considered reactive PIO work
C. will always cost an agency budgeted funds.
D. Considered proactive PIO work

Answers

Delivering a public information safety campaign is considered proactive PIO work. (Option D)

What is PIO?

The PIO (Public Information Officer) is in charge of informing the public and the media about incidents and working with other agencies as needed to coordinate information needs. Information on the incident must be developed and disseminated by the PIO to the news media, incident personnel, and other pertinent agencies and organizations. Each incident should have a lead PIO who may be assisted by supporting PIOs from other responding agencies or jurisdictions as needed, depending on the scale or complexity of the incident.

In conclusion, the PIO is the person in charge of liaising with the public, the media, and/or other agencies as required.

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the keynesian transmission mechanism could be blocked by either interest-insensitive investment or by the liquidity trap.

Answers

Either interest-insensitive investment or the liquidity trap have the potential to obstruct the Keynesian transmission mechanism. Typically, the money supply curve is horizontal. The investment demand curve is horizontal in the liquidity trap.

Which best sums up how the money supply grows in a Keynesian transmission model?

Falling interest rates encourage investment spending, which in turn raises overall spending and moves the AD curve to the right.

By liquidity trap, what do you mean?

An expansionary monetary policy (increase in money supply) in a liquidity trap prevents economic growth by failing to raise interest rates or income.

The most extreme outcome of monetary policy is the liquidity trap.

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if all of the government’s debt were internal, would financing that debt make the nation poorer?

Answers

if all of the government’s debt were internal, would financing that debt makes the nation poorer is a false statement.

What is debt?

Debt may be defined as the sum that the borrower owes the bank. A debt is an amount of money that has been received for a specified time frame and must be repaid, plus interest.

External existing debt results in equalization; the process does not make a country poorer. The debt will in time need to be equalized as some point of time in time. The debtor's creditworthiness affects both the debt's size and its acceptance.

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An increase in the wage rate will A. shift the labor supply curve to the right. B. shift the labor supply curve to the left. C. cause an upward movement along the labor supply curve. D. cause a downward movement along the labor supply curve. E. have no effect on the quantity of labor supplied.

Answers

There will be a reduction in the amount of labor requested and an upward shift in the demand curve.

What will increase labor wages effect ?

Inflation is brought on by wage increases since doing business becomes more expensive as wages rise.

Companies must raise their prices for their products and services to offset the cost increase and keep their profitability at the same level.

The quantity of work required will alter in response to changes in pay or salary. Employers will want to hire fewer workers if the pay rate rises.

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which of the following is the best example of a homogeneous good? group of answer choices new cars ice cream soft drinks wheat

Answers

At least two vaporous, fluid, or strong parts should be blended consistently across a homogenous combination.

What is a Homogenous combination?

A homogenous blend is one whose parts are equitably circulated all through the whole arrangement, whose creation is consistent, and which gives off an impression of being a solitary substance.

Models: A uniform mix of gases makes up air. A homogenous combination of table salt and water is known as a salt arrangement.

The flavorings, water, and sugar might meet up synthetically to create an answer, however, the carbon dioxide bubbles are not scattered similarly all through the fluid.

Hence, the Homogenous combination best depicts a Cold drink.

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a 55 year old recently received a $30 000 distribution

Answers

A 55 year historic lately received a $30,000 distribution from a preceding employer's 401k plan, minus $6,000 withholding.

Which tax would an IRA participant be subjected to on distributions?

IRAs: An IRA distribution paid to you is situation to 10% withholding except you choose out of withholding or pick to have a specific quantity withheld. You can keep away from withholding taxes if you pick out to do a trustee-to-trustee switch to some other IRA.

Do I have to record my IRA distributions on my tax return?

Regardless of your age, you will want to file a Form 1040 and show the quantity of the IRA withdrawal. Since you took the withdrawal earlier than you reached age 59 1/2, unless you met one of the exceptions, you will need to pay an additional 10% tax on early distributions on your Form 1040.

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Oriole Company borrows $86,400 on July 1 from the bank by signing a $86,400, 8%, 1-year note payable. (a) Prepare the journal entry to record the proceeds of the note. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Answers

Oriole Company borrows $86,400 on July 1 from the bank by signing a $86,400, 8%, 1-year note payable. The Journal entry will be debit : cash for 86,400 and credit : notes payable for 86,400.

The transactions pertaining to adjustment entries, opening stock, depreciation, accounting mistakes, etc. are documented in a general journal, which is a daybook or subsidiary journal. General journal entries may have invoices, copies of management reports, and journal vouchers as their source materials.

Prime entry books, also known as books of original entry, are journals because transactions were first recorded in a journal before being physically posted to accounts in the main ledger or a subsidiary ledger. It is the process of recording double entry bookkeeping transactions by debiting one or more accounts and crediting one or more other accounts with the same sum of money.

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What value does tracking and following-up on Expired Listings provide? --Provides the community a snapshot of marketing trends. --Provides an opportunity for personal contact with a property seller. --Provides little value because the property did not sell in the market. --Provides the Real Estate Board an opportunity to improve listing records.

Answers

The tracking and following-up on expired listings provide an opportunity for personal contact with a property seller.

What does expired mean in real estate listing?

Properties that were on the market but didn't sell before the listing's expiration date are known as expired listings. Agents can obtain expired listing leads by locating or acquiring them, following up with them directly, or by using lead nurturing programs and advertising via email, SMS, and direct mail.

An "Expired" or "Cancelled" status indicates that there is no longer an active brokerage agreement or listing contract with the seller according to the Bright MLS Rules & Regulations. In the real estate industry, a property that didn't sell through the MLS is referred to as having an expired listing. It is essentially a property that is no longer active in the MLS since it did not receive a purchase agreement during its period or under the terms of a contract with a realtor.

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what type of proposal is written to obtain funding from agencies that support worthwhile causes?
a. Grant Proposal
b. Informal Proposal

Answers

The purpose of a grant proposal is to secure financing from organizations that champion deserving causes.

What characteristics distinguish a strong grant application?

A good grant application should be persuasive, straightforward, and brief. Be sure to provide the donor enough information so that they can understand your proposal and see that you've given it some thought, but avoid being overly verbose. Additionally, the story you include in your grant application should help the sponsor understand your initiative.

What does a grant serve as?

Your ideas and initiatives to offer public services and boost the economy can be funded by the government through grants. Grants fund numerous programs included in the Catalog for Federal Domestic Assistance, including innovative research projects, crucial recovery measures, and others (CFDA).

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the exclusion amount for a purchased fixed-term annuity can be calculated by dividing the cost of the annuity by the total number of payments.
a. true
b.false

Answers

True, the cost of the annuity can be divided by the total number of payments to determine the exclusion amount for a purchased fixed-term annuity.

The statement is true.

What amount is paid out by a fixed annuity?

Annuities provided an average return of between 3% and 4% at the time this article was written. This means that starting with the year you purchased the annuity, the annuity provider would compound interest on your annuity at a rate of, say, 3% annually.

A wise investment, fixed-term annuities?

For those looking for low risk, lifetime income, and premium protection, fixed annuities make good investments. Another drawback for some may be that a fixed annuity does not provide any inflation protection.

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Which of the following products or services is not subject to network effects?
a. Banking services
b. Snack chip manufacturing
c. Video game consoles
d. Social networks
e. Cell phone services

Answers

The product or service that is not subject to network effects is b. Snack chip manufacturing.

What products are affected by network effects?

The products or services that will be affected by network effects such as slower networks, are all the services and products that use networks to work. Banks use networks to provide services, video game consoles need network for online play, and social networks need networks to be connected to.

Cell phone services are entirely offered over networks. Snack chip manufacturing on the other hand can be done without the need for networks.

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FILL IN THE BLANK. bond market values are expressed as a percentage of their par (face) value. for example, a company's bonds might be trading at 103, which means that they can be bought or sold for___of their par value.

Answers

Bond market values are expressed as a percentage of their par (face) value. for example, a company's bonds might be trading at 103, which means that they can be bought or sold for 103% of their par value.

In a bond, the issuer owes the bond holder money and is required under the bond's terms to return the bond's capital and income within a specified period of time until the bond matures.

The borrower can receive external liquidity through the sale of the bond in order to finance long-term investments or, in the case of government bonds, to cover urgent costs. Bondholders have the interest of creditors, whereas shareholders have an equity stake in a firm, even though both stocks and bonds are regarded as securities.

The above question is incomplete, the complete question is-

Bond market values are expressed as a percentage of their par (face) value. For example, a company's bonds might be trading at 103, which means that they can be bought or sold for ____ of their par value.

Multiple choice question.

103%

100.3%

10.3%

0.103%

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T/F a management consultant estimates that the number of hours per day that employees will work and their daily pay of dollars are related by the equation . find at and interpret your answer.

Answers

A management consultant estimates that based on the given equation between the number of hours per day of h and their daily pay of p dollars, when a person do overtime for n hours, they will get an extra $1 in pay is TRUE.

From the case, we know that the relationship between the number of hours per day (h) and the employees' daily pay (p) could be rewritten in the perspective of the number of hours per day such:

40h⁵+4,000,000 = p³

h⁵ = p³ - 4,000,000

                 40

h⁵ = 1/40 p³ - 100,000

h = (1/40 p³ - 100,000)^(1/5)

When we use derivative method to solve dh/dp, the equation will be derivated based on p.  Based on derivative concept, when f is a function of x, hence f'(x) measures the instantaneuos rate of change of f with respect to x. It could be said that f'(x) shows the rate of change of f, when x changes.

Related to the derivative concept, we know that h is the function of p given that the function h is being derivated to p. Hence h'(p) or dh/dp shows any changes in h, when p changes. dh/dp shows the extra hours a  person need to work to earn an extra $1 in pay.

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Complete Question:

A management consultant estimates that the number h of hours per day that employees will work and their daily pay of p dollars are related by the equation 40h⁵+4,000,000 = p³. Find dh/dp at p = 20, a person will work for an extra n hours for an extra $1 in pay. T/F

companies must have a carefully constructed inventory policy in order to

Answers

Companies must have a carefully constructed inventory policy in order to manage available funds and maximize profitability.

What is an inventory policy?

An inventory policy is an integral part of inventory management which helps manage stock flow in a better manner.

A very effective inventory policy is a good theoretical objective but at a practical level, it becomes difficult to achieve because the senior management’s views differs concerning the role of inventory and the knowledge and skills of supply chain and logistics professionals to structure a decision making process for an inventory policy.

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