This order affirms Order No. 1000 transmission planning reforms that: require that each public utility transmission provider participates in a regional transmission planning process that produces a regional transmission plan.
Provides that local and regional transmission planning processes must provide an opportunity to identify and evaluate transmission needs driven by public policy requirements established by state or federal laws or regulations.
Improve coordination between neighboring transmission planning regions for new interregional transmission facilities, and remove from Commission-approved tariffs and agreements a federal right of first refusal.
Every public utility transmission provider is required by No. 1000 to take part in a regional transmission planning process that includes: a regional cost allocation method for the cost of new transmission facilities chosen in a regional transmission plan for cost allocation purposes.
An interregional cost allocation method for the cost of new transmission facilities located in two neighboring transmission planning regions and are joint. Additionally, the Order No. 1000 requirement that each cost allocation technique must adhere to six cost allocation principles is reiterated by this order.
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Phone Apps, LLC, is a limited liability company. Among its members, a dispute arises that the operating agreement does not cover. The dispute is governed by
a. the applicable state LLC statute.
b. the Uniform Limited Liability Company Act.
c. the federal LLC statutes.
d. the principles of partnership law.
Phone Apps, LLC, is a limited liability company. Among its members, a dispute arises that the operating agreement does not cover. The dispute is governed by the applicable state LLC statute. Option A.
What is LLC statute?A document must be filed with the business entity filing office of one state to create an LLC, which is a statutory business entity. This booklet includes some essential company-related information. Members of an LLC are its owners. All, part, or none of an LLC's members may be in charge of management.
Instead of a board of directors, managers, managing members, or the managing director are in charge of running the business. An LLC's managing members function like a company's board of directors.
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(figure 67-7: firms in monopolistic competition) negative economic profit or economic loss is incurred if the profit-maximizing price is price in panel . a h; b b u; c c j; c d i; c e g; a
In panel A, the profit-maximizing price would be the equilibrium price, which is the market price where supply equals demand. At this price, firms in monopolistic competition would incur neither economic profit nor economic loss.
What is monopolistic?
Monopolistic competition is indeed a type of perfectly competitive where numerous producers compete with one another but sell different products that are not exact substitutes for one another. In monopolistically competitive, a company accepts the prices set by its competitors as given and pays no attention to how its own prices affect those of its rivals. Monopolistic competition will turn into a government-granted monopoly if this occurs in the face of a coercive government. In contrast to perfect competition, the business keeps extra capacity.
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a company uses the weighted average method of process costing. it had 40,000 units in beginning inventory, which were 70% complete as to materials and 80% complete as to conversion. during the month, it started 110,000 units. at the end of the month, 32,000 units were in inventory, which were 65% complete as to materials and 60% complete as to 4 conversion. cost information is as follows:
A company uses the weighted average method of process costing. It had 40,000 units in the beginning inventory, which were 70% complete as to materials and 80% complete as to conversion and during month it started 110,000 units. At the end of the month, 32,000 units were in inventory which 65% complete as to materials and 60% complete as to conversion. The total cost accounted for the month is $1,614,360 with cost per equivalent unit of productions for direct material is $5.70 and for conversion is $4.87
Weighted average method is an approach to valuing a company's business inventory stock and determines the average cost of all inventory items.
Please reference to the first picture for more information about this case.
From the information we know that:
Beginning work in process inventory:
Direct materials costs $158,200
Conversion costs $193,600
Total beginning inventory cost $351,800
Costs added during the month:
Direct materials costs $632,960
Conversion costs $629,600
Total costs added during the month $1,262,560
Total production costs $1,614,360
Units Materials% Conversion%
Beginning inventory 40,000 70% 80%
Unit started 110,000
Ending inentory 32,000 65% 60%
To find the costs per equivalent units of production, we need to know the total equivalent units of production first.
The total equivalent units of production could be found by adding the units completed and transferred out with units of ending work in process. The equivalent units completed and transferred out could be calculated by adding the unit started at the month to the beginning inventory and eliminating the ending inventory units. Please make sure that the beginning inventory amount calculated here should be counted as 100% instead of the presented percentage in the case.
Equivalent units of production Direct materials Conversion
Equivalent units completed and transferred out 129,200 130,800
Equivalent units for ending work in process 20,800 19,200
Total equivalent units of production 138,800 169,199
Cost per Equivalent unit of production Direct materials Conversion
Costs of beginning work in process inventory $158,200 $193,600
Costs added during month $632,960 $629,600
Total costs $791,160 $823,200
Equivalent units of production 138,800 169,199
Costs per equivalent units of production $5.70 $4.87
For more complete calculation, please refer to the second image below.
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a mail-order house uses 15,875 boxes a year. carrying costs are 79 cents per box a year, and ordering costs are $97. the following price schedule applies. number of boxesprice per box 1,000 to 1,999 $1.45 2,000 to 4,999 1.35 5,000 to 9,999 1.25 10,000 or more 1.20
Number of boxes price per box according to price schedule is 3.18 orders.
Given
Annual demand D = 15875 boxes per year
Carrying cost H = 0.79 cents
Ordering cost S = $97
Optimal order quantity Q
Q=[tex]\sqrt{\frac{2*15875*97}{0.79}}[/tex]
Q = 1974 units
But at Q = 1974 units we are getting less discount. So, we calculate total cost at Q = 19, Q = 2000, Q = 5000, Q = 10000
Total cost = Purchase cost + Annual Holding cost + Annual ordering cost = PD + (Q/2)H + (D/Q)S
The total cost is less at optimal order quantity Q = 5000
a) Optimal order quantity = 5000 boxes
b) Number of orders = (D/Q) = 15875/5000 = 3.18
Number of orders = 3.18 orders
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Rory, the owner of a rapidly growing tech start-up, revealed to you that she is implementing personality and trait assessments for her employees. Which of the following describes how Rory should implement these types of assessments? a) Implement validated, job-related measures to encourage employee development.b) Utilize a trait-based leadership assessment to choose department managers.c) Empower the HR manager to administer personality tests to all job applicants.d) Administer a dark triad assessment and fire anyone with high levels of narcissism.
The following outlines how Rory ought to put these kinds of Select department managers using a leadership assessment based on traits. option(B) is correct
Who is a leader?The term leader is someone who inspires passion and motivation in followers. A leader is someone with a vision and the path to realizing as we see there are different types of leaders who are there as we see in the organization the team leaders are there in it as we see in the politics they are different from it. There are different kinds of leaders who are being there. And they can easily lead the group as well.
The owner of a rapidly growing tech start-up revealed to you that she is implementing personality and trait assessments for her employees. Which of the following describes how Rory should implement a trait-based leadership assessment to choose department managers.
Therefore, option(B) is correct.
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which of the following are ways promotion should be used to communicate to the target market about a business' products, brands, company, or people?
One of the methods of promotion that shouldn't be used to inform the target market about a company's goods, names, operations, or personnel is deceives.
What is promotion?
Promotion is any form of promoting communication that aims to steer target audiences of the relative qualities of a given sensible, service, idea, or brand. It aids marketers in establishing a unforgettable spot in clients' minds. This place are often either psychological feature or emotional. Promoting a product or service is meant to boost whole awareness, spark interest, enhance sales, or foster whole loyalty. one amongst the elemental parts of the market combine, that conjointly consists of the four note (product, pricing, location, and promotion), is this.
One of the parts of the promotional combine or promotional set up is promotion. These embrace event promoting and exhibitions additionally to non-public commercialism, advertising, advertisement, marketing promotion, and word of mouth.
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irms usually offer their customers some form of trade credit. this allowance comes with certain terms of credit, which affect the cost of asset of sale for the buyer as well as the seller. consider this case: cold duck manufacturing inc. buys on terms of 2/10, net 30 from its chief supplier.
Payment term of 2/20, net 30 mean if payment is made within 20 days then the customer will get a 2% discount. And the maximum payment term is 30 days.
Cost of credit for one period = 2% / (1 - 2%)= 2.04%
The cost of credit for one period is 2.04%.
Nominal cost of trade credit = 2.04% {365 / (30 - 20)}
= 2.04% 36.50
= 74.46%
Nominal cost of trade credit is 74.46%.
If the supplier shortens the discount period from 20 days to 5 days then the nominal cost of trade credit will decrease.his refers to the money cost of production. This refers to the value of the product in dollars the time when the product was manufactured. Here the inflatons, deflations are not taken into account.
Inflation can be defined as a decrease in the purchasing power of money. This is reflected in higher prices for goods and services in the market. That is, an increase in the price of a commodity over a period of time. One cause of inflation is low supply and high demand for goods and services in the market.
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To maximize profits, Maria should sell _ loaves of ciabatta bread per hour
To maximize profits, Maria should sell 6 loaves of ciabatta bread per hour
What is Profit Maximization
Profit maximization is the technique used by corporations and enterprises to develop methods to increase earnings while reducing costs. Every company should have it as a primary goal because it is essential to their development.
Since maximizing profits from a company's operations is necessary for its survival, this is often thought to be its main goal.
In order words profit maximizing is the procedure used by businesses to determine the manufacture, cost, and output levels that will result in the most profits.
Therefore, a corporation must reach an equilibrium state in order to realize its full potential profits. When a company or producer's level of output results in the maximum, it is considered to have reached equilibrium.
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To maximize profits, Maria should sell 6 loaves of ciabatta bread per hour.
What is Profit Maximization?Profit maximization is the technique used by corporations and enterprises to develop methods to increase earnings while reducing costs. Every company should have it as a primary goal because it is essential to their development.
Based on the question;
Given that,
TR = Total Revenue
Q = Quantity of sale (units sold)
P = Price per unit of output
TR = P x Q
Given that,
MR = Marginal Revenue
ΔTR = Change in the Total revenue
ΔQ = Change in the units sold
TRn = Total Revenue of n units
TRn-1 = Total Revenue of n-1 units
MR = TRn - TRn-1
MC = TCn - TCn-1
From the given information, we will calculate the TR obtained at different units to get the MR(marginal revenue). So,
when
Q = 0 and P = 6 ----TR = PQ = 06 =0
Q = 1 and P = 5.50---- TR = 5.50
Q = 2 and P = 5---- TR = 10
Q = 3 and P = 4.50----TR = 13.5
Q = 4 and P = 4---- TR = 16
Q = 5 and P = 3.50---- TR = 17.5
Q = 6 and P = 3---- TR = 18
Q = 7 and P = 2.50---- TR = 17.5
Q = 8 and P = 2--- TR = 16
From the solved TR, we can say that:
MR as MR = TRn - TRn-1.
So, MR (0) = 0
MR(1) = TR1 - TR0
= 5.50-0 = 5.50
MR(2) = TR2-TR1
= 10-5.50
= 4.50.
Using the formula above.
MR(3) = 3.5
MR(4) =2.5, MR(5) = 1.5, MR(6) =0.5,MR(7) = -0.5 and MR(8) =-1.5.
From the given TC, MC can be calculated as:
MC = TCn - TCn-1
So, MC(0) = 0,
MC(1) = TC1 - TC0 = 4
MC(2) = TC2-TC1 = 3
MC(3) = 2.50, MC(4) = 2
MC(5) =1.5,MC(6) =1
MC(7) = 1.50 and MC(8) = 2.5.
To maximize profit, the condition will be:
MR=MC.
Based on data given, the MR is the same to MC at the point where the price is $3.50 and the quantity sold is sad to be 5 units.
Therefore, a corporation must reach an equilibrium state in order to realize its full potential profits. When a company or producer's level of output results in the maximum, it is considered to have reached equilibrium.
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A Cpk index of 1.00 equates to a defect rate ofA) Approximately five percentB) Approximately 2.6 per 1,000 itemsC) Approximately 3.4 defects per millionD) Approximately 97.23 percentE) Approximately one percent
A Cpk index of 1.00 indicates that there are 2.7 defects for every 1000 items.
The defect rate is the percentage of production units that are defective or unusable out of a given number. This measurement is used by businesses to assess product quality and its impact on profitability. Despite the fact that lower rates are preferable, there is no industry-wide standard defect rate.
What is an acceptable defect rate?Modern quality objectives actually necessitate brand-new measurement criteria. At many of the best plants, Six Sigma quality, which translates to a defect rate of 3.4 parts per million and was initially established as an internal stretch goal by Motorola Inc., is the de facto standard.
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3. roberto and rebecca wish to enter into the business manufacturing fine furniture. which form of business organization would you recommend in each of the following situations? please briefly explain each of your answers. a. rebecca is a furniture expert, but she has no funds. roberto knows nothing about furniture production, but he is willing to contribute all the money needed to start the business. b. the furniture-manufacturing process requires more capital than roberto and rebecca can raise together. however, they wish to maintain control of the business. c. the production process can be very dangerous, and a large tort judgment against the business is foreseeable. d. sales will be nationwide. e. a loss is expected for the first several years.
A manufacturing company is a company that uses raw materials, parts, and components to assemble finished products. Small manufacturing businesses are a minority- or women-owned businesses or corporations that are independently owned and operated and are certified by the Department of Commerce or have gross annual revenues of had...
Manufacturing businesses are: Defined as a company that use components, additional parts, or raw materials to produce finished products. Products are then sold directly to other industries and consumers, or to stores where consumers shop to purchase goods.
Manufacturing is the process of transforming raw materials into final tangible products. Manufacturing is often about streamlining the process of transforming one resource into another for the purpose of selling to a customer.
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A company that sells only one product line to one industry with customers in many locations would typically use a ________.A) product sales-force structureB) territorial sales-force structureC) market sales-force structureD) customer sales-force structureE) complex sales-force structure
The organization of the sales force by products, customers, or industries.
Which of the following sales organizational structures adheres to the marketing concept?The sales organization structure that emphasizes specialization within the marketing team is referred to as function structure. This implies that each team member has a specific role to play depending on their areas of expertise, hobbies, and other considerations.
What type of organization is sometimes referred to as a customer sales force?A sales force organization in which salespeople specialize in selling primarily to particular clients or markets is referred to as a customer (or market) sales force structure. A customer (or market) sales force structure is being used by an increasing number of businesses to segment their sales force by market or client.
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In a perfectly competitive reource market the Marginal Revenue Product Curve i
A. HORIZONTAL (WRONG)
B. VERTICAL
C. DOWNWARD-SLOPING
D. UPWARD-SLOPING
In a perfectly competitive resource market the Marginal Revenue Product Curve i: C. DOWNWARD-SLOPING
Marginal methods are beneficial because they tell us the general average cost for a particular level of a few variables. Marginal refers to the focus on the cost or gain of the subsequent unit or person, for an instance, the cost to supply one extra widget or the income earned with the aid of including one greater worker. groups use marginal evaluation as a decision-making tool to assist them to maximize their ability earnings.
It refers to the incremental expenses of producing additional units of an awesome or carrier. it's far calculated with the aid of dividing the alternate within the expenses of manufacturing more goods by means of the change in the quantity produced. The formula is Marginal cost = (trade-in prices) / (exchange in amount).
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If the value of a vehicle is increased after repairs, such as repainting an entire auto when only one fender is damaged, the insurer will not pay for the increase in value. What is the name for the increase in value?
If the value of a vehicle is increased after repairs, such as repainting an entire auto when only one fender is damaged, the insurer will not pay for the increase in value. Betterment is the name for the increase in value.
An insurer is a employer that sells insurance. The insurer will pay the insured the coins cost which the coverage has constructed up if it's miles surrendered. it is mandatory for insurers to provide the customers with a prospectus that carries all of the foremost features of the coverage. An insurer is a company that sells insurance.
The insurer is the birthday party in an insurance contract that guarantees to pay compensation. The insurer is an entity, normally an coverage business enterprise, that underwrites the insured danger. through assessment, the insured is someone or enterprise whose life, fitness or assets is covered by an insurance coverage.
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1.The cost of a hard drive installed in a computer? A.Direct labor cost. B.Direct materials cost. C.Manufacturing overhead cost. D.Selling cost. E.Administrative cost 2. The cost of advertising in the Puget Sound Computer User newspaper? A.Direct labor cost. B.Direct materials cost. C.Manufacturing overhead cost. D.Selling cost. E.Administrative cost3. The wages of employees who assemble computers from components ? A.Direct labor cost. B.Direct materials cost. C.Manufacturing overhead cost. D.Selling cost. E.Administrative cost4, Sales Commissions paid to the company's salespeople? A.Direct labor cost. B.Direct materials cost. C.Manufacturing overhead cost. D.Selling cost. E.Administrative cost5. The sallry of the assembly shop's supervisor? A.Direct labor cost. B.Direct materials cost. C.Manufacturing overhead cost. D.Selling cost. E.Administrative cost
The cost of a hard drive installed in a computer is: B. Direct materials cost.
The cost of advertising in the Puget Sound Computer User newspaper is: D. Selling cost.
The wages of employees who assemble computers from components is: A. Direct labor cost.
Sales Commissions paid to the company's salespeople is both: D. Selling cost. and E. Administrative cost.
The salary of the assembly shop's supervisor is: C. Manufacturing overhead cost.
What is costing?In Financial accounting, costing can be defined as a process which involves the measurement of the costs that are associated with the production of goods and services, especially by assessing the fixed costs and variable costs associated with each step of production.
Generally speaking, direct materials cost simply refers to a measure of the cost that is associated with the raw materials and other physical components that are used for the manufacturing of a product (good).
In conclusion, the sales commissions that are being paid to the salespeople that are working in a business firm (company) should be classified under both selling cost and administrative cost.
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if banks want a reserve ratio of 1/10, then when the federal reserve increases reserves by $1,000, deposits must ultimately increase by $100. when banks are worried that depositors might want to withdraw their cash or when loans don't seem profitable, they want a reserve ratio that is relatively low. the money multiplier is the ratio of reserves to deposits. the reserve ratio is determined primarily by how liquid banks wish to be.
Only to meet the regular depositor needs for currency and payment services do banks retain reserves.
What occurs if you raise the reserve ratio?A decrease in the amount of deposits that can be maintained by a certain level of reserves, along with a reduction in the money supply and an increase in credit costs, result from raising the reserve requirement ratios.
If a deposit of $100 is made and the statutory reserve is 10%, how much must the bank retain on hand?If the reserve requirement is 10%, the deposit multiplier indicates that banks are only required to hold 10% of all deposits in reserve, but they are allowed to lend out the remaining 90% to the public in order to generate additional funds and boost the economy. Thus, if a depositor deposits $100, the bank must maintain a reserve of $10 but may lend out $90.
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pricing objectives are derived from broader marketing objectives. organizations using a multisegment marketing approach to marketing will likely have different objectives for each brand offered to the market. smaller firms that seek to fill niche markets will often use only a single approach to pricing products. the objectives and goals of a pricing strategy are one of the most overlooked elements in the marketing mix. many firms use simplistic approaches to pricing and fail to recognize the strategic importance that solid pricing objectives can offer. pricing objectives may be categorized as profit oriented, sales oriented, and status quo oriented.
A marketing strategy entails segmenting a target market into subsets of consumers, businesses, or countries that share common needs, interests, and priorities, and then implementing strategies to target them.
What is the significance of pricing strategy in business?Pricing is an important part of product management and one of the four Ps of the marketing mix, along with product, promotion, and location. The only revenue-generating aspect among the four Ps is price, with the others being cost centers. To remain competitive in markets with increasing volume and price pressure, the correct pricing strategy is critical. It provides you with the value you deserve for your products and services while also ensuring the earnings you require to invest in change and growth. Pricing objectives must be considered while determining an optimum pricing point. You don't want to charge anything you want for a product or service.
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if a bank has $1,000 in checkable deposits and the reserve ratio is 25%, then it must hold reserves of $ .
Bank must hold reserves of $250, if it has $1,000 in checkable deposits and the reserve ratio is 25%
What is reserve ratio?The reserve ratio is the minimum percentage of the central bank's specified amount that each commercial bank must set aside as required by law. The central bank has the discretion to raise or lower this ratio in response to changing economic conditions.
What happens when the reserve ratio falls?Banks are able to extend more loans to individuals and businesses when the reserve ratio is reduced by the Federal Reserve. This lowers the amount of cash that banks must store in reserves. The economy grows as a result, increasing the money supply in the country.
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The marketing function that provides place utility or distribution from the producer to the consumer includes which of the following activities?
a. Advertising
b. Warehousing
c. Shipping
d. Inventory management
The marketing function that offers place utility or distribution from the producer to the consumer involves advertising, warehousing, shipping, and inventory management. Thus, all are the correct options.
What is the term marketing function means?Marketing is the process of discovering, constructing, and maximizing the value to meet the needs of a target market in terms of goods and services, which may include selecting a target audience; deciding which attributes or themes to emphasize in advertising; running advertising campaigns, and attending trade shows and public events. Buying, selling, shipping, storage, standardization and grading, financing, risk carrying, and distributing market knowledge are all examples of marketing functions. A list of marketing functions like this is better suited to tangible items.
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QUESTION 12
Budgets are prepared in which of the following orders?
a. sales budget, cash budget, production budget
b. production budget, sales budget, direct labor budget
c. production budget, cash budget, direct materials purchases budget
d. production budget, cost of goods sold budget, direct labor budget
e. sales budget, production budget, direct materials purchases budget
A bicycle store sells 100 bicycles for $1,000 each. For each bicycle, the store buys the parts wholesale and then assembles the bicycle. Each frame costs $300, wheels cost $200 ($100 per wheel), and all other components cost $200. In addition, the store sells 100 frames for $400 and 100 wheels for $125 each.
What is the bicycle store's contribution to GDP?
The bicycle store's contribution to GDP is $152,500
Define GDP.The total market value of all the finished goods and services produced in a nation over a specific time period is known as the gross domestic product (GDP). The value-added method can be used to compute GDP. The GPD is calculated by adding the additional value produced at each stage of the final product's production by each factor of production. GDP only includes the value of the final value and not the intermediate products or old products so as to avoid double counting.
Given:
Amount to produce bicycle = $300+$200+$200 = $900
Bicycle sells price = $1000
Thus, Value added = Bicycle sells price - Amount to produce bicycle
= $1000 - $900
= $100
So, we can calculate increase in GDP by the following method:
Contribution to GDP = Value added + Amount to produce bicycle
= $100 + $900
= $1000 × 100 = $100,000
Each frame costs = $300
Value added of frame = $400 - $300 = $100
Contribution to GDP = $100 + $300 = 400 × 100 = $40,000
Each wheels cost = $100
Value added of wheel = $125 - $100 = $25
Contribution to GDP = $25 + $100 = 125 × 100 = $12,500
Hence, the contribution to GDP is
= $100,000 + $40,000 + $12,500 = $152,500
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a characteristic of oligopoly that is not present in other market structures is that there are many sellers and each produces a differentiated version of the product. are many sellers that produce identical products. is only one seller and that seller holds a high level of market power. are a small number of sellers and they have market power.
Throughout history, oligopolies have existed in various industries such as steel, oil, railroads, tire manufacturing, grocery chains, and mobile operators. Other industries with oligopoly structures are airlines and pharmaceutical companies.
Monopolies and oligopolies are market structures that exist under imperfect competition. A monopoly is when a single firm produces goods with no substitutes, while an oligopoly is when a few relatively large firms produce similar but slightly different goods.
An oligopoly market is a market dominated by a few suppliers. They can be found in all countries and across a broad range of sectors. Some oligopoly markets are competitive, while others are significantly less so, or can at least appear that way.
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is a light panel positioned above a workstation or production line that is used to indicate its operating status.
Yes, A light panel can be used to indicate the status of a workstation or production line, such as whether it is running, in idle status, or in an error state.
What does an light panel mean?
An light panel is a type of lighting fixture consisting of a flat, illuminated surface. It is commonly used in photography and videography, as well as in stage lighting, where the light panel can be used to project a variety of patterns and colors onto the stage. Additionally, some light panels are used for backlighting and accent lighting.
What does Videography mean?
The art of capturing moving images with video cameras, usually for the purpose of producing media content for television, film, or online video platforms, is known as videography. To create a compelling visual narrative, it employs a variety of techniques such as camera angles, lighting, and editing.
The light panel may also include a variety of indicators, such as text displays or buttons, to provide more detailed information about the workstation or production line's status.
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Which statement about holding costs, also known as carrying costs, are correct?
Carrying costs can be stated as a constant.
Carrying costs can be stated as a percentage of item price,
Both the statement of holding costs, also known as carrying costs are correct.
What does Holding cost mean?
The total cost of storing an item for an extended period of time is referred to as the holding cost. These expenses include warehousing, insurance, storage, and administrative expenses. The opportunity cost of capital tied up in inventory, the cost of obsolescence, and the cost of deterioration are all examples of holding costs.
What does administrative expenses mean?
Administrative expenses are those incurred in the day-to-day operations of a company or organisation. Salary, rent, office supplies, professional fees, travel, and insurance are examples of such expenses. They are distinct from production costs, which are expenses incurred during the manufacture of goods or services.
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1. A decrease in supply is depicted by a A. movement from point x to point y. B. shift from S2 to S1. C. shift from S1 to S2. D. movement from point y to point x. 2. Using the same graph above, an increase in quantity supplied is depicted by a A. shift from S2 to S1. B. shift from S1 to S2. C. move from point y to point x. D. move from point x to point y. 3. Using the same graph above, a movement along the supply schedule from point x to point y depicts A. a decrease in supply. B. an increase in supply. C. an increase in quantity supplied. D. a decrease in quantity supplied.
1. We can see here that a decrease in supply is depicted by a: B. shift from S2 to S1.
2. Using the same graph above, an increase in quantity supplied is depicted by a: C. move from point y to point x.
3. Using the same graph above, a movement along the supply schedule from point x to point y depicts: D. a decrease in quantity supplied.
What is demand and supply?Demand and supply is actually known to be a relationship that is seen between the quantity that consumers are willing to pay and buy and the quantity of commodity that the manufacturers want to sell at different prices.
A price is usually determined by the interaction that is seen between supply and demand in the market. The principle of supply and demand is known to be the main model of price determination that is used in the economic world world today.
We see here that the given answers are correct. Attached is the image that relates to the question.
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g culver's recording studio rents studio time to musicians in 2-hour blocks. each session includes the use of the studio facilities, a digital recording of the performance, and a professional music producer/mixer. anticipated annual volume is 1,290 sessions. The company has invested $2,343,000 in the studio and expects a return on investment (ROI) of 22%. Budgeted costs for the coming year are as follows. Per Session TotalDirect materials (CDs, etc.) $ 19.80 Direct labor $407.00 Variable overhead $ 55.00 Fixed overhead $1,033,320 Variable selling and administrative expenses $ 35.00 Fixed selling and administrative expenses $542,820
The budgeted costs are used to calculate the expected return on investment (ROI) of 22%.
What is return on investment?
The ratio of net income (over a period of time) to investment is known as return on investment (ROI) or return on costs (ROC). A high ROI indicates that the returns on the investment outweigh the costs. ROI is used as a performance metric to assess an investment's effectiveness or to compare the effectiveness of several different investments. It is a method of connecting profits to capital invested in terms of economics.
The ROI is calculated by taking the total expected profit (or revenue) and dividing it by the total investment (in this case, $2,343,000).
The total expected profit is calculated by multiplying the number of sessions (1,290) by the total expected revenue per session. The total expected revenue per session is calculated by adding together the total direct materials costs ($19.80), direct labor costs ($407.00), variable overhead costs ($55.00), variable selling and administrative expenses ($35.00), and fixed overhead and selling and administrative expenses ($1,033,320 + $542,820).
Therefore, total expected revenue per session = $19.80 + $407.00 + $55.00 + $35.00 + $1,033,320 + $542,820 = $1,593.00
Total expected profit = 1,290 x $1,593.00 = $2,044,770
ROI = Total expected profit / Total investment = $2,044,770 / $2,343,000 = 22%.
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Tony's Tree Service is the only firm in a town that removes large trees. Tony invested in costly bucket trucks and wood chippers when he began his business. Which of the following best describes the barrier to entry that allows Tony to keep his monopoly? a.monopoly resources
b.government-created monopoly
Monopoly resources are the barrier to entry that allows Tony's Tree Service to maintain its monopoly. Option a is correct.
What is a monopoly?It can be defined as an organization or institution that dominates the market in which it operates, because it is the only company that provides such a product or service, that is, there is no offer of substitute products for such good.
Therefore, monopoly resources, such as bucket trucks and wood chippers, are entry barriers that make it difficult for new companies to enter the same market segment, as they are expensive resources in addition to being a specific niche.
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the food division of garcia company reports the following for the current year. sales $ 4,000,000 cost of goods sold 2,800,000 gross profit 1,200,000 expenses 1,000,000 income $ 200,000 garcia wants to achieve at least a 10% profit margin next year. two alternative strategies are proposed. strategy 1: increase advertising expenses by $225,000. the company expects this to increase sales by $600,000. cost of goods sold will not change. strategy 2: develop a more efficient manufacturing process. this will decrease cost of goods sold by $140,000. a. for each strategy, compute the profit margin expected for next year. b. which strategy should garcia choose based on expected profit margin
The profit margin expected when using strategy 1 is 12.50 %. The profit margin for strategy 2, to the food division of Garcia Company, is 8.50%.
The strategy that Garcia Company should choose is therefore Strategy 1.
How to find the profit margin?The profit margin can be found by the formula:
= Net income / Sales
Using strategy 1, the new sales would be:
= 4, 000, 000 + 600, 000
= $4, 600, 000
The net income would be:
= 4, 600, 000 - 2, 800, 000 - ( 1, 000, 000 + 225, 000 expenses )
= $ 575, 000
The profit margin is therefore:
= 575, 000 / 4, 600, 000 x 100%
= 12. 50 %
The cost of goods sold using Strategy 2 is:
= 2, 800, 000 - 140, 000
= $ 2, 660, 000
This means that the net income for strategy 2 is:
= 4, 000, 000 - 2, 660, 000 - 1, 340, 000 - 1, 000, 000
= $ 340, 000
The profit margin is:
= 340, 000 / 4, 000, 000 x 100 %
= 8 .50%
Strategy 1 should be picked for having the higher profit margin.
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What are the four most used tax bases?
Individual income tax , corporate income, sales, and property are the four most common tax bases.
Describe tax bases.
The total amount of earnings, possessions, purchases, transactions, and other economic activity that is subject to taxation by a taxing authority is referred to as the tax base. A small tax base makes taxes ineffective and unbalanced. A large tax base allows for more money to be raised at lower rates and lowers the cost of tax administration.
In the US, there are three main types of taxation: progressive, proportional, and regressive. Regressive and progressive taxes, in contrast to proportional taxes, have different effects on high- and low-income earners. The tax base is the total market value of all the assets, income, and resources in a given area or jurisdiction.
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TRUE/FALSE in most cases, the price point set by a seller must cover the variable costs to produce the unit, but not necessarily a share of the fixed costs associated with operating the business
In most cases, the price point set by a seller must cover the variable costs to produce the unit, but not necessarily a share of the fixed costs associated with operating the business. The given statement is False.
What are the most important considerations for pricing policies?Competition: Your company probably knows who its competitors are and how much they charge customers. Pricing policies are heavily influenced by market competition. Profit goals: You might choose a pricing policy to help your company meet a specific profit goal.
Costs - When determining a selling price, a company cannot overlook the cost of production or purchasing a product. A business will fail in the long run if it sells for less than its cost or has a gross profit margin that is insufficient to cover its fixed costs.
Thus, the given statement is False.
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a flexible exchange rate is one that _______. it works _______.
A flexible exchange rate is one that is determined by supply and demand in the foreign exchange market. it works with no direct intervention by the central bank.
What is the flexible exchange rate?A monetary system that permits the exchange rate to be determined by supply and demand is known as a flexible exchange-rate system in macroeconomics. Each currency area needs to decide what kind of exchange rate system to keep. Some use mixed strategies between entirely fixed and permanently adaptable.
The exchange rate is based on the availability and demand of money in the market in a flexible exchange rate system. A flexible exchange rate system permits currency values to alter at will in accordance with shifts in the supply and demand for foreign currencies.
Flexible exchange rates are those that are based on the worldwide supply and demand of a given currency. In other words, they are determined by the prices of foreign exchange.
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