Answer:
The elasticity of Felix's labor supply between the wages of $25 and $40 per hour is approximately 1.08.
Since 1.08 is greater 1, this means that Felix's supply of labor over this wage range is elastic.
Explanation:
From the question, we have:
New number of hours willing to work = 10
Old number of hours willing to work = 4
New wage = $40
Old wage = $25
Generally, the formula for calculating the price elasticity of labor supply is as follows:
Price elasticity of labor supply = Percentage change in hours willing to work / Percentage change in wage ................ (1)
Where, based on the midpoint formula, we have:
Percentage change in hours willing to work = {(New number of hours willing to work - Old number of hours willing to work) / [(New number of hours willing to work + Old number of hours willing to work) /
2]} * 100 = {(10 - 4) / [(10 + 14) / 2]} * 100 = 50%
Percentage change in wage = {(New wage - Old wage) / [(New wage + Old wage) / 2]} * 100 = {(40 - 25) / [(40 + 25) / 2]} * 100 = 46.1538461538462%
Substituting the values into equation (1), we have:
Price elasticity of labor supply = 50% / 46.1538461538462% = 1.08333333333333
Approximated to 2 decimal places, we have:
Price elasticity of demand = 1.08
The elasticity of Felix's labor supply between the wages of $25 and $40 per hour is approximately 1.08.
Since 1.08 is greater 1, this means that Felix's supply of labor over this wage range is elastic.
What is the BEST way to stay organized? Person with a descriptive and correct one sentence answer will receive brainliest for their hard efforts.
Answer:
Jssjnsnss is a great place to work for and it is a great place to work for and it will help us out to the best of our experience as well as the best and fastest growing business in the
Answer:
watch your behavior to identify actions that contribute to the problem of being disorganized and commit to changing problem behaviors.
Explanation:
(or incorporate the most important organizing tasks into routines.)
Give any six (6) examples of promised goods and services as per MFRS 15 Revenue from Contracts with Customers.
MFRS 15 Revenue from Contracts with Customers is an accounting standard that guides the recognition, measurement, and disclosure of revenue from contracts with customers. As per MFRS 15, promised goods and services are components of a contract that are distinct and can be identified separately.
Here are six examples of promised goods and services as per MFRS 15 Revenue from Contracts with Customers:1. Physical goods: Physical goods such as cars, computers, furniture, clothing, etc.
that are sold by companies to their customers are examples of promised goods as per MFRS 15.2. Digital goods: Digital goods such as music, movies, software, ebooks, etc.
that are sold online are examples of promised goods as per MFRS 15.3. Services: Services such as legal, accounting, consulting, healthcare, education, etc., that are provided by companies to their customers are examples of promised services as per MFRS 15.4. Subscription-based services Subscription-based services such as gym memberships, magazine subscriptions, online streaming services, etc.
that are provided on a recurring basis are examples of promised services as per MFRS 15.5. Warranties: Warranties such as repair or replacement warranties, product guarantees, etc. that are provided by companies to their customers are examples of promised services as per MFRS 15.6. Loyalty programs Loyalty programs such as reward points, cashback offers, discounts, etc.
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How has the emergence of the Internet changed the way that organizationsplan and manage their human resource needs?
Overall, the Internet has transformed how organizations plan and manage their human resource needs by enabling faster, more efficient, and more inclusive HR practices. It has enhanced recruitment efforts, expanded talent pools, facilitated remote work, improved training and development opportunities, strengthened employee engagement, and streamlined HR processes.
The emergence of the Internet has had a significant impact on how organizations plan and manage their human resource needs. Here are some ways in which the Internet has influenced HR practices:
Recruitment and Talent Acquisition: The Internet has revolutionized the recruitment process. Organizations can now reach a larger pool of candidates by advertising job openings on online job boards, social media platforms, and their own websites. This broader reach allows for a more diverse and inclusive candidate selection. Additionally, online application systems and resume databases make it easier for HR professionals to screen and track applicants.
Remote Work and Global Talent: The Internet has enabled remote work arrangements, allowing organizations to tap into a global talent pool. With online communication tools and project management platforms, companies can hire and manage employees from different geographic locations. This flexibility in location has expanded the possibilities for finding highly skilled and specialized workers.
Training and Development: Online learning platforms and web-based training programs have made training and development more accessible and cost-effective. Employees can access training materials and resources at their convenience, allowing for self-paced learning. Virtual classrooms and webinars also facilitate interactive learning experiences and knowledge sharing among employees located in different regions.
Employee Engagement and Communication: The Internet has facilitated better employee engagement and communication within organizations. Intranets, collaboration tools, and internal social networks provide platforms for employees to connect, share ideas, and collaborate on projects. These tools foster a sense of community and enhance internal communication channels, leading to improved employee satisfaction and productivity.
HR Information Systems: The Internet has made it possible to centralize and streamline HR processes through the use of HR information systems (HRIS). These systems enable efficient management of employee data, such as payroll, benefits, performance evaluations, and employee records. HRIS platforms also provide analytics and reporting capabilities, allowing HR professionals to make data-driven decisions and identify trends.
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What is the difference between a retail market and a wholesale market?
A.
Retail markets are in urban areas, whereas wholesale markets are in rural areas.
B.
Retail markets are at transport hubs, whereas wholesale markets are at central places in villages.
C.
Retail markets sell only organically grown produce, whereas wholesale markets sell all types of produce.
D.
Retail markets sell directly to consumers, whereas wholesale markets sell primarily to traders and retailers.
Answer:
D. Retail markets sell directly to consumers, whereas wholesale markets sell primarily to traders and retailers.
Explanation:
Retailers are the last traders in the distribution chain. They buy goods in bulk from wholesalers, break the bulk and sell the goods in small quantities to consumers. Retailers are found in all areas, including towns, estates, and rural areas. Large-scale retailers such as supermarkets buy directly from manufactures and sell to retailers.
Wholesalers are intermediaries in the distribution chains. Their primary customers are retailers. Wholesalers buy from manufacturers in bulk, break the bulk and sell to retailers. Some wholesalers have created channels for selling to consumers.
Answer:
D
Explanation:
If average household income increases by 10%, from $50,000 to $55,000 per year, the quantity of rooms demanded at the Triple Sevens from rooms per night to rooms per night. Therefore, the income elasticity of demand is , meaning that hotel rooms at the Triple Sevens are . If the price of a room at the Exhilaration were to decrease by 10%, from $250 to $225, while all other demand factors remain at their initial values, the quantity of rooms demanded at the Triple Sevens from rooms per night to rooms per night. Because the cross-price elasticity of demand is , hotel rooms at the Triple Sevens and hotel rooms at the Exhilaration are . Triple Sevens is debating decreasing the price of its rooms to $175 per night. Under the initial demand conditions, you can see that this would cause its total revenue to . Decreasing the price will always have this effect on revenue when Triple Sevens is operating on the portion of its demand curve.
Answer:
Some numbers are missing, so I looked for similar questions:
If average household income increases by 10%, from $50,000 to $55,000 per year, the quantity of rooms demanded at the Triple Sevens from 300 rooms per night to 350 rooms per night. Therefore, the income elasticity of demand is , meaning that hotel rooms at the Triple Sevens are .
income elasticity of demand = % change in quantity demanded / % change in income
income elasticity of demand = 16.7% / 10% = 1.67, since it is positive, then they are normal goods, and since their IED ≥ 1, they can also be considered luxury goods.
If IED is negative, that means that a good is an inferior good, since the more you earn, the less you consume.
If the price of a room at the Exhilaration were to decrease by 10%, from $250 to $225, while all other demand factors remain at their initial values, the quantity of rooms demanded at the Triple Sevens from 300 rooms per night to 200 rooms per night. Because the cross-price elasticity of demand is , hotel rooms at the Triple Sevens and hotel rooms at the Exhilaration are .
Cross price elasticity of demand = % change in quantity demanded of Triple Sevens hotel rooms / % change in price of Exhilaration hotel rooms
Cross price elasticity of demand = -33.33 / -10% = 3.33
Triple Sevens hotel and Exhilaration hotel are substitutes since their cross price elasticity is positive.
Triple Sevens is debating decreasing the price of its rooms to $175 per night (from $200). Under the initial demand conditions, you can see that this would cause its total revenue to . Decreasing the price will always have this effect on revenue when Triple Sevens is operating on the portion of its demand curve.
original revenue before change in price = $200 x 150 rooms = $30,000
revenue after decreasing price = $175 x (150 x 1.1667) = $175 x 175 rooms = $30,625
total revenues will increase by $625, this happens because Triple Sevens hotel is operating on the elastic portion of the demand curve.
The final sign of successful intrapreneurship is the company's encouraging employees with creative ideas to step forward. 1) desire 2) policies 3) prodecures 4) proactively 5) protocol
Successful intrapreneurship is the ability of employees to exhibit entrepreneurship within the company setting, identifying opportunities for growth and finding innovative solutions to increase productivity and gain a competitive edge over rivals.
Intrapreneurship requires employees to step outside of their usual job descriptions, take risks and innovate using creative ideas.The final sign of successful intrapreneurship is the company's proactive encouragement of employees with creative ideas to step forward. The culture of a company plays a critical role in promoting and supporting intrapreneurship. Company policies and procedures that are supportive of employee creativity are also an essential ingredient for successful intrapreneurship.
For example, companies can implement policies that encourage employees to be innovative and provide incentives for successful ideas. Additionally, a protocol that allows for open communication between employees and management, as well as a desire to invest in new ideas, can promote intrapreneurship.
Finally, intrapreneurship is a culture that must be fostered, and the company's management must be willing to invest time and resources to promote this culture. When a company is able to promote intrapreneurship, it can reap numerous benefits, including increased productivity, competitiveness, and employee satisfaction.
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the opening paragraph of a solicited proposal should contain all of the following except ________.
The opening paragraph of a solicited proposal should contain all of the following except "irrelevant personal experiences or anecdotes."
The opening paragraph of a solicited proposal should contain all of the following except any information that is not specifically requested by the client or information that does not directly relate to the client's needs or concerns. The opening paragraph should typically provide an overview of the proposal, acknowledge the client's request, and establish the writer's credentials or expertise. Additionally, it should briefly outline the proposed solution and emphasize the benefits of the proposed solution to the client. Therefore, the opening paragraph of a solicited proposal should not contain irrelevant or unnecessary information that does not serve the purpose of the proposal.
The opening paragraph should include:
1. A clear statement of the problem or need that the proposal addresses.
2. A brief description of your proposed solution.
3. An explanation of why your organization is qualified to address the issue.
4. A summary of the expected outcomes and benefits of the project.
Remember, it's important to keep the focus on the problem at hand, your proposed solution, and the benefits of your proposal rather than including irrelevant personal experiences or anecdotes. This will ensure that your proposal is concise, professional, and focused on the topic.
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How can a diverse economy like the United States, satisfy the needs of its consumers?
Answer:
Supply and Demand
Explanation:
Fueled by Caffeine Company is a manufacturer of travel mugs. Fueled has recently experienced turnover in its accounting department and is unable to find documentation of the prior period standard rate per direct labor hour. The company needs this information to begin the budgeting process for the next period. Fueled has determined that the total direct labor variance in the prior period was a favorable $390 and that direct laborers were paid $0.50 less per hour than expected. Management expected 5,200 direct labor hours to be logged during production based on the actual number of travel mugs produced; however, 260 more actual direct labor hours were logged during production. What was the prior period’s actual direct labor rate per hour?A.$10.50 per direct labor hourB.$8.50 per direct labor hourC.$8.00 per direct labor hourD.$12.00 per direct labor hourE.$9.00 per direct labor hour
The prior period's actual direct labor rate per hour was- B. $8.50 per direct labor hour.
How to find?Based on the information provided, we can use the formula for direct labor variance to calculate the prior period's actual direct labor rate per hour.
The formula for direct labor variance is Actual Direct Labor Hours x (Actual Direct Labor Rate - Standard Direct Labor Rate).
We know that the total direct labor variance in the prior period was a favorable $390 and that direct laborers were paid $0.50 less per hour than expected.
We also know that 260 more actual direct labor hours were logged during production than management expected. Using these values, we can set up the equation:
(5,460 actual direct labor hours) x (actual direct labor rate - standard direct labor rate) = $390 favorable variance
Solving for the actual direct labor rate, we get:
(actual direct labor rate - standard direct labor rate) = $0.0714 per direct labor hour
(actual direct labor rate) - ($0.50 less per hour than expected) = $0.0714 per direct labor hour
(actual direct labor rate) = $8.50 per direct labor hour
Therefore, the prior period's actual direct labor rate per hour was $8.50. Answer choice B is correct.
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Gina wants to attend a college with a current tuition of $10,000 a year. She will graduate from high school in two years. Roughly how much will Gina need to save for one-year’s tuition to account for an annual rate of inflation of 2%?
$204.00
$14,00.00
$10,404.00
$20,000.00
Answer: $14,000(B)
Explanation:
Each year the tuition costs 2% more. She doesn’t start college for another two years so that makes the rate 4% more the 10,000 which is 14,000
Answer:
C
Explanation:
C : $10,404.00 is correct. I got it right on the test. B is wrong.
A marginally attached worker is a person who does not have a job, is _____ and _____ to work, has _____ specific efforts to find a job within the previous _____ weeks, but has looked for work sometime in the recent past.
A. not available; not willing; not made; four
B. available; willing; made; six
C. available; willing; not made; six
D. available; willing; not made; four
A marginally attached worker is a person who does not have a job, is available and willing to work, has not made specific efforts to find a job within the previous four weeks, but has looked for work sometime in the recent past. The answer is OPTION D.
The marginally attached are individuals who are not currently in the labor force but who want and are available for work, have looked for a job at some point in the previous 12 months, but who were not counted as unemployed because they had not looked for work in the 4 weeks prior to the survey.
A marginally attached worker is a person who does not currently have a job, who is available and willing to work, who has looked for work in the recent past but hasn't specifically tried to find one in the last four weeks.
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Lenders evaluate a borrower's ability to repay the loan by looking at the borrower's?
Lenders evaluate a borrower's ability to repay the loan by looking at the borrower's financial stability and creditworthiness.
They assess several factors to determine the borrower's repayment capacity, including,
Income and Employment,
Lenders review the borrower's income level and stability of employment to assess their ability to generate sufficient funds for loan repayment.
Credit History
Lenders examine the borrower's credit history, including credit scores and payment patterns on existing debts.
A positive credit history indicates a borrower's responsible repayment behavior and enhances their ability to secure a loan.
Debt-to-Income Ratio
Lenders consider the borrower's debt-to-income ratio, which compares their total debt obligations to their income.
A lower debt-to-income ratio suggests a borrower has a lower financial burden and a higher ability to repay the loan.
Assets and Collateral
Lenders may evaluate the borrower's assets and collateral, such as property or vehicles, which can serve as security for the loan.
These assets provide lenders with assurance that they can recover their funds if the borrower defaults.
Financial Statements
For business loans, lenders may require financial statements,
such as balance sheets, income statements, and cash flow statements, to assess the borrower's financial health and ability to generate income.
Loan-to-Value Ratio
Lenders consider the loan-to-value ratio for secured loans, comparing the loan amount to the value of the collateral.
A lower loan-to-value ratio reduces the lender's risk and improves the borrower's chances of loan approval.
By evaluating these factors, lenders can gauge the borrower's ability to repay the loan
and determine the terms, interest rates, and loan amount that align with the borrower's financial capacity and creditworthiness.
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Why do you think the 4 components of media measurement are important?
Answer:
audience, impression, frequency, and cost per thousand (CPM) 3.
Reach””The number or percent of different homes or persons exposed at least once to an advertising schedule in one or more media vehicles over a given period of time.
Frequency””The average number of times that the household or person is exposed to a media vehicle, schedule or campaign over a given time period.
Which one of the following statements is TRUE about different types of attribution models?
First touch attribution requires less data than other attributions.
Multi-touch attribution explicitly recognizes upper funnel marketing efforts.
Last touch attribution heavily depends on third party cookies.
Customized attribution is easier to be implemented comparing with other attribution models.
The statement that is TRUE about different types of attribution models is: "Multi-touch attribution explicitly recognizes upper funnel marketing efforts." First touch attribution assigns all the credit to the first touchpoint the customer encountered. In multi-touch attribution models, the customer's journey and interaction with various marketing touchpoints are taken into account Last touch attribution assigns all the credit to the last touchpoint the customer interacted with before the conversion
In multi-touch attribution models, the customer's journey and interaction with various marketing touchpoints are taken into account. Unlike other attribution models, multi-touch attribution recognizes that multiple touchpoints influence a customer's decision-making process, including those in the upper funnel (awareness and consideration stages). This means that all marketing efforts, from initial brand awareness to final conversion, are considered and assigned value in the attribution model. This approach provides a more comprehensive and holistic view of the customer journey, giving credit to all the touchpoints that contribute to the final conversion.
Attribution models are used in marketing to assign credit or value to various touchpoints in a customer's journey, helping marketers understand the effectiveness of their marketing efforts. Different attribution models have different approaches and consider different factors when assigning credit.
First touch attribution assigns all the credit to the first touchpoint the customer encountered. While it may require less data since it focuses only on the initial touchpoint, it oversimplifies the customer journey by ignoring the impact of other touchpoints along the way.
Last touch attribution assigns all the credit to the last touchpoint the customer interacted with before the conversion. It heavily depends on the assumption that the final touchpoint is the most influential in the customer's decision-making process. However, it does not consider the contributions of other touchpoints that may have influenced the customer's decision earlier in the journey. Regarding third-party cookies, last touch attribution does not specifically depend on them. However, since last touch attribution focuses on the final touchpoint, it may indirectly rely on third-party cookies if the final touchpoint uses them for tracking.
Customized attribution models can be tailored to specific business needs, but they may require more effort and resources to implement. Customized attribution models allow marketers to create a model that aligns with their specific goals and strategies, incorporating unique factors and considerations. While customization provides flexibility, it can be more complex to implement compared to pre-defined attribution models.
Multi-touch attribution is a more advanced approach that explicitly recognizes and gives credit to multiple touchpoints throughout the customer journey. It acknowledges the influence of upper funnel marketing efforts, such as brand awareness campaigns, content marketing, and early engagement touchpoints. By considering the contributions of various touchpoints, multi-touch attribution provides a more comprehensive and accurate understanding of the customer journey and the impact of marketing efforts at different stages.
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The coursework taken at a _____ is focused on specific career skills and trades and does not generally require further academic studies.
vocational school
private school
university
college
Answer:
Vocational school
Explanation:
Edge 2021
For a monopolist that does not price discriminate, economic profit is maximized in the short run at a price of $140. Marginal revenue at that output level is Group of answer choices equal to $140. greater than $140. less than $140. less than marginal cost. greater than average revenue.
What are the differences between enclaves and competitive work? name two benefits of each
Enclaves offer organized environments where people can work in the neighborhood to build useful work habits and skills, such as starting conversations with coworkers, following instructions from managers, arranging transportation, and managing time and money.
The subsidized enclave model is thought to have produced a successful competitive environment. The benefit of an enclave is that members work cooperatively to support one another as they educate themselves. The social good it promotes all around is its additional value. The advantage of competitive work is that you develop your work's quality while trying to outdo your teammates. Another advantage is that people strive to use their greatest abilities in the least amount of time because the setting is competitive.
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Which of the following becomes the main goal of promotion when the product enters the growth stage of its life cycle? a. Reminder promotion b. Persuasive promotion c. Informative promotion d. Connective promotion
The main goal of promotion when a product enters the growth stage of its life cycle is usually persuasive promotion. In the growth stage, the product has already been introduced to the market, and consumers are becoming more aware of it.
The focus of promotional efforts in this stage is to persuade customers to choose the product over competitors' offerings.Persuasive promotion typically uses messages that emphasize the benefits of the product, and often includes elements of emotional appeal. Advertising may focus on building brand awareness and creating positive associations with the product, while sales promotion may offer incentives to encourage customers to try the product.While informative promotion may still be necessary to educate consumers about new features or changes to the product, the emphasis shifts toward creating desire and building customer loyalty. Reminder promotion is typically used to maintain awareness of the product among existing customers, while connective promotion focuses on building relationships with customers through social media and other forms of engagement.
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The US Supreme Court did what in Piscataway Board of Education v. Taxman, 521 U.S. 1117, 117 S.Ct. 2506 (1997)?
Answer:
The case was never heard in the United States Supreme Court.
Explanation:
The board of education of Piscataway High School, New Jersey desired to remove one teaching position from the Business Education department. A hindrance to this was the fact that the two teachers being considered had indefinite appointments, and were equal in seniority. According to the state law, tenured teachers can be relieved of their duties in reverse order of seniority. Either Sharon Taxman, a white teacher, or Debra Williams an African-American teacher were to be relieved of their positions.
Taxman was chosen because African-Americans were a minority. Taxman contested this in the court. The case was never heard at the U.S Supreme court because some civil rights group wanted the case to be settled out of court. The United States Court of Appeal ruled in favor of Taxman.
Knowledge Check - Question 5
-
What's the term for reducing the price of an item in order to encourage sales?
A. Net profit
B. Margin
C. Markup
D. Markdown
The term for reducing the price of an item in order to encourage sales is D. Markdown. Markdown is a pricing strategy where the original selling price of a product is reduced in order to increase sales.
This can be done for a number of reasons such as to clear out old inventory, to compete with other retailers, or to stimulate demand for a product. When a retailer marks down the price of a product, they are essentially sacrificing potential profit in order to move the product off the shelves and generate revenue.
It's important to note that markdowns can have an impact on a company's net profit and margin. Net profit is the amount left over after all expenses have been deducted from revenue, while margin is the percentage of revenue that represents profit.
In summary, a markdown is a common pricing strategy used by retailers to increase sales and move products off the shelves. However, it's important to consider the impact of markdowns on net profit and margin before implementing this strategy.
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On April 1, 1986, Casey deposited $1150 into a savings account paying 9.6%
interest, compounded quarterly. If he hasn't made any additional deposits or
withdrawals since then, and if the interest rate has stayed the same, in what
year did his balance hit $2300, according to the rule of 72?
Answer:4900
Explanation: it makes sence duh.
what are 2 possible reasons for unemployment?
Answer:
Frictional unemployment.Structural unemployment.what is the meaning of cheque stub
Answer:
A check stub is the part of a check that is kept by the payee with information such as the check number, date, and amount. ... A check stub is the part of a check that is kept by the payee with information such as the check number, date, and amount.
path-goal leadership suggests that . group of answer choices leaders need to choose a leadership style that best fits the needs of their followers and the type of work they are doing leaders should allow followers to struggle with their problems and not interfere, unless imminent organizational failure will happen there is one correct path and one correct goal for every situation and follower all of these
The correct answer is a) Leaders need to choose a leadership style that best fits the needs of their followers and the type of work they are doing.
Path-goal leadership theory suggests that leaders should adapt their leadership style to provide guidance and support that aligns with the needs and characteristics of their followers, as well as the requirements of the task at hand.
The leader's role is to facilitate the achievement of goals by removing obstacles and clarifying paths to success. This approach acknowledges the importance of considering follower characteristics, work context, and individual needs when determining the most effective leadership style.
The correct option is a).
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1. Why is it important to be able to write out a check properly ?
Answer:
yes is very predominant
Explanation:
because you can find out that you have done mistakes and submit incorrect work,, is very important to check more than twice to make sure you didn't do anything wrong
Caroline is heavily involved in project contracts and she is currently monitoring procurement activities closely. What document will she rely on to verify compliance with project objectives?
a. Business plan
b. Organizational goals
c. Project management plan
d. Quality control plan
Caroline is heavily involved in project contracts and she is currently monitoring procurement activities closely. The document that she will rely on to verify compliance with project objectives is the project management plan.Option C.
Project management plan is the correct document that Caroline will rely on to verify compliance with project objectives.
What is the Project Management Plan?
The project management plan is a comprehensive document that outlines the entire project and includes details about the scope, budget, schedule, resources, communication, risk management, and quality. It is created during the planning phase of the project and provides a roadmap for how the project will be managed and executed. It is essential for ensuring that all project objectives are being met, including compliance with project standards and requirements.
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can i have friendsssssssssssssssssssssssssssssssssssss
Answer:
Sure lol
Explanation:
I'll send ya a friend request then lol
*ultimate lonely call received and returned*
5. a. Describe and compare the predictions of the models of Cournot and Bertrand. How can we explain the different predictions between the two models? (15 marks) b. Evaluate whether the Cournot and Bertrand predictions are applicable to real world situations. (10 marks)
a. Cournot and Bertrand are two different models of oligopoly that describe how firms compete in a market with a limited number of competitors.
Cournot's model is based on the assumption that firms produce the same good and do not change their output levels once they have committed to a production level. Bertrand's model, on the other hand, assumes that firms produce differentiated products and compete on price.
According to Cournot's model, firms choose their output levels simultaneously and independently, based on their expectations about how their competitors will behave.
The model predicts that each firm will choose an output level that is less than the output that would maximize its profit if it were a monopoly. Bertrand's model, on the other hand, predicts that firms will undercut each other's prices until the price falls to the marginal cost of production.
The model assumes that firms can change their prices as often as they like, and that consumers will always buy from the firm with the lowest price. Thus, the predictions of the two models are quite different. Cournot's model predicts that firms will produce less than the competitive output level, while Bertrand's model predicts that they will produce at the competitive output level.
b. The predictions of the Cournot and Bertrand models are applicable to real-world situations to varying degrees, depending on the nature of the industry and the behavior of the firms involved. Cournot's model is more applicable to industries where firms produce similar products and where there are barriers to entry that prevent new firms from entering the market.
Examples include the petroleum industry, where firms produce similar grades of gasoline and where it is expensive to build new refineries, and the pharmaceutical industry, where firms produce similar drugs and where it is expensive to obtain regulatory approval.
Bertrand's model is more applicable to industries where firms produce differentiated products and where there are no barriers to entry.
Examples include the fast food industry, where firms produce different types of food and where it is relatively easy to open a new restaurant, and the airline industry, where firms offer different routes and schedules and where it is relatively easy to obtain landing slots at airports.
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Which of these are benefits of a job as the term is used in this lesson? (1
O a high hourly wage
O an office in a great neighborhood
O working for a good cause
O a 401(k) plan
Answer:
high Hourly wage
Explanation:
Answer:
D. a 401(k) plan
Explanation:
On 1/1/2019, the balance of gross accounts receivable was $600, and net Accounts Receivable was $420. During 2019, the company had $2500 of credit sales and wrote off $13 of uncollectible accounts. It is estimated that 2% of the new credit sales won't be collected. Assuming no cash is collected throughout 2019, what is the ending net accounts receivable?
a.) $2870
b.) $3087
c.) $217
d.) $2883
The correct option is a) $2870.
Given that on 1/1/2019, the balance of gross accounts receivable was $600 and net Accounts Receivable was $420. During 2019, the company had $2500 of credit sales and wrote off $13 of uncollectible accounts. It is estimated that 2% of the new credit sales won't be collected. Assuming no cash is collected throughout 2019,
what is the ending net accounts receivable?
The amount of uncollectible accounts is $13. Therefore, the net accounts receivable balance as of 12/31/19 is:$420 - $13 = $407Now we can calculate the amount of credit sales that the company will not collect as follows: Uncollectible accounts = $2500 × 2% = $50
Therefore, the company will have $2,450 of credit sales that will be collected on 12/31/2019.
Therefore, the ending net accounts receivable balance is:$2,450 + $407 = $2,857Therefore, the correct option is a) $2870.
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