An increase in the price of a good will cause total revenue to fall if the price elasticity of demand is elastic (greater than 1).
When the price elasticity of demand is elastic (greater than 1), it means that consumers are highly responsive to price changes. In this scenario, if the price of a good increases, the quantity demanded decreases proportionally by a greater extent. As a result, the decrease in quantity demanded outweighs the increase in price, leading to a net reduction in total revenue. This occurs because the price increase fails to compensate for the significant decrease in quantity sold.
In elastic demand, consumers have many substitute options available or consider the good to be non-essential, making them sensitive to changes in price. As prices rise, consumers tend to shift their purchases to alternative products or reduce their overall consumption. Therefore, businesses that face elastic demand should exercise caution when increasing prices, as it could lead to a decline in total revenue due to the significant decrease in quantity demanded.
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this message is to inform you that we received your letter of may 9 asking for information about our banquet facilities for your december 1 sales meeting is an effective opening sentence for a message responding to a request? a. true b. false
False, because wrong because the words are found to be less formal.
A sales report or sales report is a document that describes how many sales the company makes on a daily, weekly, or monthly basis. They can help track key performance indicators (KPIs), which measure a company's sales progress. This data enables all sales staff from representatives to executives to identify trends, make more informed decisions, and work towards achieving departmental goals.
The sales representative, sales manager, or department manager who compiles this sales report can use accounting software to organize this data and present it in a visually appealing way. They may include charts to show sales over time and other charts to differentiate separate statistics.
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Drag each label to the correct location on the image.
Match the activities with the relevant accounting principles.
a document backs a
transaction
a practice eliminates the
bias of the accountant
a company maintains the
same accounting practices
across accounting periods
an auditor approves
the authenticity of a
transaction
/ Objectivity
/ Consistency
Here is the correct matching:
a document backs a transaction - Objectivitya practice eliminates the bias of the accountant - Objectivitya company maintains the same accounting practices across accounting periods - Consistencyan auditor approves the authenticity of a transaction - ObjectivityWhat are these accounting principles.In accounting, objectivity is the principle of relying on verifiable evidence and eliminating personal bias. This includes having supporting documents for transactions and ensuring that auditors assess authenticity without bias.
Consistency is another principle that requires maintaining the same accounting practices across periods to allow for meaningful comparisons. These principles contribute to accurate and reliable financial reporting.
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the ability of a business to pay obligations that are expected to become due within the next year or operating cycle is select one: a. wealth. b. leverage. c. profitability. d. liquidity.
The ability of a business to pay obligations that are expected to become due within the next year or operating cycle is referred to as liquidity. Option d. is correct.
Liquidity refers to the availability of cash or easily convertible assets that can be used to meet short-term obligations. It is a measure of the company's ability to cover its short-term debts and expenses. The liquidity of a business is crucial for its financial health and operational stability.
When a business has high liquidity, it means it has sufficient cash or assets that can be quickly converted into cash to meet its upcoming financial obligations, such as paying suppliers, employees, and creditors.
On the other hand, if a business lacks liquidity, it may struggle to meet its short-term obligations and may face financial difficulties.
Liquidity is assessed through various financial ratios, such as the current ratio and the quick ratio, which measure the company's ability to cover its current liabilities with its current assets.
A high level of liquidity indicates a stronger financial position and the ability to navigate unexpected financial challenges, while low liquidity can lead to financial strain and potential insolvency.
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HELP PLEASE
Q1 How would you describe Snap-On Tools' competitive strategy? Does it fit a price or non price model? Explain (4)
q2 How are the free enterprise " freedoms" of ownership and profit depicted in this scenario on Snap- On Tools? (4)
Q3 Is there any risk for the franshised dealers who purchase the truck, tools and equipment from Snap- On? ( 2)
Answer:
Q1. Non price model
Q2. How free enterprise "freedom" of ownership and profit are demonstrated includes
1) Snap-on tools ability to make and sell their tools for profit
2) Snap-on tools ability to sell out of mobile trucks, rather than store
3) Snap-On tool is able to offer credit financing to the its customers
Q3 The risks are,
a) Damage to reputation
b) Joint liability
c) Compliance to commercial regulations
Explanation:
A non-price competition is a form of marketing strategy, whereby a company or establishment puts in place distinguishing factors in its goods and or services, in order to distinguish them from competing goods or services.
Describe factors that encourage conspicuous
consumption by the purchase of status sym-
bols.
Veblen's initial thesis said that better social standing and peer recognition were the two key factors influencing ostentatious consumption.
Conspicuous consumerism is the act of acquiring things or services specifically with the intention of flaunting one's affluence. When publicly exhibited products and services are too expensive for other people in a person's class, conspicuous spending is a way to demonstrate one's social position.
What is the conspicuous consumerism theory?
Conspicuous consumption is defined as. Displaying extravagant riches in order to improve one's standing and reputation in society is known as conspicuous spending.To Learn more about conspicuous consumption, click the links
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One of Netflix's original competitive advantages was its efficiency. The company delivered movies quickly and charged a relatively low cost for the service. Strategically, this is known as _____ excellence.
One of Netflix's original competitive advantages was its efficiency. The company delivered movies quickly and charged a relatively low cost for the service. Strategically, this is known as operational excellence.
Operational excellence is an approach to business management that emphasizes continuous improvement across all aspects of the business and within all business processes by creating a culture where management and employees are invested in business outcomes and empowered to implement change. When implemented well, every member of an organization sees the flow of value to the customer and, if problems arise, finds a solution before any disruptions occur. Operational excellence begins with a culture shift, where all leaders and employees are dedicated to creating not only a quality product but also providing customer experiences.
Thus Netflix's strategy is is known as operational excellence.
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What do federally funded grants require a student to do
Answer:
To have a financial need
Explanation:
In the United States, the federally funded grants require a student to have a FINANCIAL NEED before such funds can be granted to the student. For example Federal Pell Grants, Federal Supplemental Educational Opportunity Grants.
To access such grants, students will have to apply for the grant and submit the form after being filled in for proper evaluation.
Hence, in this case, the correct answer is Federally funded grants require a student "to have a financial need."
at what point should you be ready to sell a stock? when it triggers your stop orders if it is not underperforming, but it is not performing its original role in your portfolio when other stocks in the same sector are seriously out-performing it all of the above
Point when you should be ready to sell a stock is all of the above options.
A stop order is one amongst the 2 main order sorts you may encounter within the market: stop and limit. The key for the purchase order is that it's perpetually dead within the direction that the value is moving. as an example, if the market is moving lower, the purchase order are to sell at a pre-set worth below the present market value
Out-performing stock means the corporate can turn out a far better rate of come back than similar corporations, however the stock might not be the simplest entertainer within the index. An analyst's performance is evaluated supported however stocks really perform once a rating is assigned.
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Which aspect of the organization should Albert have been aware of before joining it?
Albert has recently joined a business organization. After a few weeks, he has realized that he is not happy with the organization's values,
management style, and policies. He is thus finding it difficult to perform daily tasks. He wishes he had found some information about the
organization's
before joining it
Answer:
well you have to think before taking action in something
Please read instructions all the way through, brainiest will be given and 50 pts. Explain the logistics of product delivery. Describe the ins-and-outs of importing and exporting your products. What are the most critical components of delivery and importing/exporting? (i know for a fact that you have to do research on latest distribution trends and i can give you a link to a possibly helpful website if you need, i mainly need pointers for starting off and maybe a little bit of guidance in creating a 2 page response)
Answer:
The logistics of product delivery could be described as all that's entailed in ensuring a goods or product gets to a customer's destination after it has been purchased from a particular destination.
Explanation:
The logistics of product delivery could be described as all that's entailed in ensuring a goods or product gets to a customer's destination after it has been purchased from a particular destination. It might include shipment or freight if the goods is coming from outside the desired clients location.
Ins-and-outs of importation;
- You'd have to decide the country you're buying from
- The next is to search for suppliers, those who sell the item in that particular country you've searched.
- You'll then need to search what their duty and taxes are, which you'd have to consider in the cost
- Finally, you'll need to find a reliable freight forwarder and customs broker who would handle the clearing of the goods when they get to your country.
Export has the same but there some changes as this time you'd have searched those who need your product and considered all that's needed to ship in your country and how it'll be cleared over your customers destination
am kandy but pls don't friends me...thank me or comment on this q anymore cz this is my school acc.
The slogan on the first version of Candy Land was “A sweet little game for sweet little folks.” Why do you think the game makers chose that slogan?
A loan taken out by a government that is repaid in a fixed amount at a specific time is a ____.
A. bond
B. hedge fund
C. stock
D. savings account
In 2013, the Oakland A's were one of the hottest teams in baseball. They were regularly drawing "sellout" crowds, with many more fans wanting tickets. However, the A's did not sell all of the 56,000 seats. The A's removed or put tarps over roughly 20,000 seats in most of the third deck and the outfield stands. The A's management said that the reason was to create a more intimate feeling for the fans. What's another explanation? The A's removed or put tarps over roughly 20,000 seats to
Answer:
The other reason was to limit the number of special seats to charge a higher price for them.
Explanation:
Oakland A's knows that it has a large number of dedicated fans and that they are thirsty for tickets to watch the games, as these tickets are in high demand. In this case, when Oakland A's puts tarps or removes only on 20,000 seats and claims that it is to promote a more intimate experience for fans, it is because it knows that fans will want to occupy these special places, no matter what price they need to pay. In this case, we can say that a probable reason for the existence of these 20,000 unavailable seats is to increase the profit from ticket sales, by charging a higher price for the available seats.
During civil lawsuit proceedings regarding alcohol service, courts will try to determine if the
designated driver was present and remained sober. guest's BAC was checked throughout the evening. server recently attended proper alcohol training, server contributed to the injury.
Courts will attempt to ascertain if the designated driver was there and stayed sober throughout civil lawsuit proceedings over alcohol service.
A lawsuit is a legal action brought by one or more plaintiffs or claimants against one or more defendants. Only a limited number of laws from long ago that are still in force include the phrase "suit in law." The term "lawsuit" refers to a civil action that is launched by a plaintiff—a party who alleges that they have suffered loss as a result of the defendant's actions—and in which the plaintiff asks the court for either a legal remedy or an equitable remedy.
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Which of the following decisions is most likely to create a temporary diseconomy of
scale? (Select the best answer.)
A)Buying supplies in bulk
B)Buying an expensive piece of machinery
C)Hiring employees who specialize
D)Using division of labor
Answer:
Buying an expensive piece of machinery
Explanation:
which of the following actions would be deemed illegal by the occupational safety and health act? the employee came to work late. the employee failed to pay a medical insurance premium. the employer paid less than minimum wage. the employer let an employee work without a required steel hat. the employer discriminated because of disability.
An action which would be deemed illegal by the occupational safety and health act is: the employer let an employee work without a required steel hat.
What is OSHA?OSHA simply refers to an abbreviation for occupational safety and health administration that was created under the Occupational Safety and Health Act, in order to develop work-safety standards for employees and providing precautionary measures against all workplace hazards.
Generally speaking, occupational safety and health administration (OSHA) is an agency of the federal government that is primarily saddled with the responsibilities of developing work-safety standards that must be enforce by employers and followed judiciously by all employees.
In this context, we can reasonably infer and logically deduce that the creation of occupational safety and health act (OSHA) would consider an employee working without a required steel hat as an illegal action.
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Jacqui decides to open her own business and earns $90,000 in accounting profit the first year. When deciding to open her own business, she withdrew $20,000 from her savings, which earned 3 percent interest. She also turned down three separate job offers with annual salaries of $30,000, $40,000, and $45,000. What is Jacqui's economic profit from running her own business
Jacqui's economic profit from running her own business is: $44,400
Using this formula
Economic profit =(Accounting costs - Implicit costs)
Where:
Accounting profit = $90,000
Implicit costs=($20,000 x 3%) + $45,000
Let plug in the formula
Economic profit=$90,000-[($20,000 x 3%) + $45,000]
Economic profit=$90,000-($600+$45,000)
Economic profit=$90,000-$45,600
Economic profit=$44,400
Inconclusion Jacqui's economic profit from running her own business is: $44,400
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There are two ice cream stalls on the same lane. Each time one vendor lowers the price of an ice cream, the other vendor does the same. If one of the vendors increases the price of an ice cream, the other vendor does the same. This is an example of
The scenario where two ice cream vendors lower their price if one of them lowers and raises if one of them increases the price is an example of price leadership.
It is when one company, usually the largest, sets prices for its competitors to follow. Price leadership is a pricing strategy where one or a few leading firms in a market set the prices that the other vendors follow. The dominant firms in the market are known as price leaders. Their competitors are known as followers. Price leadership is often used in oligopolistic markets. An oligopoly is a type of market structure where a few vendors dominate the industry. The vendors in an oligopoly have significant market power, which means they can influence the market's price. In this way, they can control their competitors' prices.
This market structure leads to the interdependence of the vendors. Each company's pricing decisions have a significant impact on its competitors. In the case of two ice cream stalls on the same lane, they are interdependent because they share the same market. If one lowers the price of an ice cream, the other vendor does the same, so as not to lose the market share. On the other hand, if one of the vendors increases the price of an ice cream, the other vendor does the same to avoid losing their customers to the competitor.
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the impression you project as a person engaged in a beauty and wellness profession that consists of your outward apperance and conduct exhiubited in the workplace is know as
The impression you convey as a person working in the beauty and wellness industry is known as your professional image, which includes your behaviour and external appearance in the workplace.
What is a professional image?A person's behaviour at work and in other professional contexts is referred to as their "professional image." Additionally, it pertains to their attitude at work and how others view them.People frequently strive for a professional appearance that meets the standards of their particular workplace or sector since doing so might help them sway judgement and create vital business contacts. Additionally, it can facilitate more efficient communication between individuals. Your conversational style and the words you use in conversations both contribute to your professional image. This refers to the words and tone you use while talking about yourself, other people, and your work.To learn more about professional image refer :
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Assuming a periodic inventroy system, the journal entry to record the purchase on account of $1080 of merchandise with freight of $155 prepaid and added to the invoice is?
Assuming a periodic inventroy system, the journal entry to record the purchase on account of $1080 of merchandise with freight of $155 prepaid and added to the invoice is Debit purchases $1080, Debit freight in $155, Credit amt payable $1235.
Because Merchandising Transactions (perpetual inventory system) with expenses takes place in a record book called the journal. The perpetual inventory system is a system of recording inventory balances in the journal entries & Inventory account is adjusted to equal the cost of the merchandise.
Merchandising is the practice and process of displaying and selling products to customers.
Journal is a detailed record of all the transactions done by a business.
Inventory refers to all the items, goods, merchandise, and materials held by a business for selling in the market to earn a profit.
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Coastal industries purchased a computer, which is a 5 year asset under macrs, for $2,400. what is first year depreciation?
If the cost of the computer is $2400 and number of years is 5 then the first year depreciation is $480.
Given that the cost of the computer is $2400 and number of years is 5.
We are required to find the depreciation for the first year.
Depreciation is the gradual or permanent decrease in the value of an asset due to passage of time , climatic factors or many more reasons. It can be calculated through various methods such as straight line method,written down value method,block of years method, sum of years method,etc.
Depreciation per annum=Cost of asset/ Number of years
Depreciation for the first year=2400/5
Depreciation for the first year=$480
Hence if the cost of the computer is $2400 and number of years is 5 then the first year depreciation is $480.
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Budgeted direct labor hours for quarter 1 total 3,700 hours. Employees are paid $10 per hour. The variable overhead rate is $0.30 per direct labor hour. Fixed overhead totals $1,500, and of that, $300 is depreciation. What are cash disbursements for manufacturing overhead for quarter 1? A. $1,110 B. $46,710 C. $2,610 D. $2,310
Then, we will subtract depreciation expense from the total overhead costs. Finally, we will add the variable overhead costs, which are $0.30 per direct labor hour, to the cash disbursements for manufacturing overhead for quarter 1.
Budgeted direct labor hours for quarter 1 total 3,700 hours. Employees are paid $10 per hour. Therefore, the budgeted direct labor cost for quarter 1 is:$10 per hour × 3,700 hours = $37,000The fixed overhead cost is $1,500, and of that, $300 is depreciation.
Therefore, the fixed overhead cost, which is not related to depreciation, is $1,200.Total overhead costs = Fixed overhead cost + Variable overhead cost Fixed overhead cost = $1,200Variable overhead rate = $0.30 per direct labor hour Variable overhead cost = Variable overhead rate × Direct labor hours Variable overhead cost = $0.30 per direct labor hour × 3,700 hours Variable overhead cost = $1,110
Therefore, the total overhead costs are:$1,200 + $1,110 = $2,310Cash disbursements for manufacturing overhead for quarter 1 = Total overhead costs - Depreciation expense Cash disbursements for manufacturing overhead for quarter 1 = $2,310 - $300Cash disbursements for manufacturing overhead for quarter 1 = $2,010Therefore, the cash disbursements for manufacturing overhead for quarter 1 are $2,010.
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1. One reason we saw for the firms to have a large size is a large MES (the economies of scale are exhausted at a large level of output). Another reason may be the scope economies (you may want to quickly review section 4.3.1 in chapter 4 of the textbook). Use the ideas of economies of scale and economies of scope to try and explain in short Why are the BC elementary schools small, secondary schools large, and universities very large? (4) To give you some context, a typical elementary school in BC probably has about 80-200 students: a typical secondary school in BC probably has about 800-1,500 students: SFU has about 30,000 students, UBC about 65,000, UVic about 20,000; a typical elementary school teacher teaches everything: a typical secondary school teacher specializes in one or two subjects: a typical university instructor teaches a subject (specializes in it) and conducts research.
The reasons behind the different sizes of BC elementary schools, secondary schools, and universities are linked to the ideas of economies of scale and economies of scope firms .Let's consider the following:Elementary schools are smaller because the economies of scope favor them.
The instruction given to students is not very diverse and can be handled by one teacher, which implies that it is not necessary to hire many teachers. Additionally, the class sizes are modest, which ensures that each student gets the attention they require to excel in their studies.
Thus, the average enrollment of an elementary school is around 80-200 pupils.Secondary schools, on the other hand, are larger because of the economies of scale. Specialization is one of the reasons for this. Unlike the generalized instruction given in elementary schools, students in secondary schools are exposed to diverse subjects and curricula. As a result, there are more teachers who specialize in specific subjects.
Additionally, schools are able to offer a greater variety of extracurricular activities, allowing students to participate in a wide range of activities. These benefits are only possible due to the economies of scale that come from having a larger student body. Therefore, the average enrollment of a secondary school is around 800-1,500 students.Finally, universities are very large due to the scope economies. University instructors specialize in their fields of study and conduct research. They also have more resources and facilities than other educational institutions.
To cover the diverse curricula and fields of study, universities must have a large pool of instructors. Additionally, more resources are needed to cater to a large student body. As a result, universities have a very large student body, with an average enrollment of 20,000-65,000 students.
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aside from entertainment and technology, california’s economy also relies heavily on which industry
The economy of California is indeed diverse and relies on many industries to maintain its stability and growth.
In addition to entertainment and technology, the state's economy also heavily relies on the agricultural industry. California is one of the largest agricultural producers in the United States, with crops ranging from fruits and vegetables to livestock and dairy products. The state produces over 400 commodities, and agriculture alone generates over $50 billion in revenue annually, providing jobs for thousands of workers.
California's climate and fertile soil are ideal for growing a wide range of crops, making it one of the most agriculturally productive regions in the world. In addition to the production of food, the state also exports a significant amount of agricultural products to other states and countries, further boosting its economy.
The importance of the agricultural industry to California's economy cannot be overstated, as it not only provides food and jobs but also contributes to the state's overall economic well-being.
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A restaurant that serves $1400 a day in meals to 140 customers with an average cost of goods sold per unit at $7.00.
What is the average unit of sale for this business?
Answer:
=$10
Explanation:
The average unit of sales will the total serves per day divided by the total number of customers.
= $1400/140
=$10
The average unit of sale is $10
ming chen started a business and had the following transactions in june. owner invested $60,000 cash in the company along with $15,000 of equipment.
In June, Ming Chen invested $60,000 cash and $15,000 of equipment as the initial capital for their business.
During June, Ming Chen contributed $60,000 in cash and $15,000 in equipment to their business. This represents the initial investment made by the owner.
The cash infusion of $60,000 strengthens the company's financial position and provides capital for various operational needs, such as purchasing inventory, paying employees, and covering other expenses.
Additionally, the $15,000 worth of equipment adds to the company's asset base. The equipment could be essential for the business's operations, enabling it to carry out its activities efficiently and effectively.
These investments demonstrate Ming Chen's commitment to starting and growing their business.
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A massive amount of ammonia gas has been accidentally released near your office. You have a room without windows and relatively tightly sealed doors. Should you shelter in place?
Select the best option.
Yes
No
The statement A massive amount of ammonia gas has been accidentally released near your office. You have a room without windows and relatively tightly sealed doors is true as you should shelter in place if a massive amount of ammonia gas has been accidentally released near your office and you have a room without windows and relatively tightly sealed doors.
Sheltering in place means staying indoors and creating a barrier between yourself and the outside environment to reduce exposure to hazardous material. A room with a tightly sealed door can provide a good barrier against the outside air and help to prevent the entry of hazardous gases.
It is important to follow any instructions given by emergency responders and to stay informed about the situation until it is safe to leave.
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Executive orders 12674 and 12731 form the foundation policy on the ethical conduct of Federal Employees
Answer: a. Making authorized commitments
Explanation:
Executive Orders 12674 and 12731 (which amended 12674) of 1989 and 1990 respectively, were signed by President Bush with the purpose of setting forth the principles of ethical conduct that were required of Federal Government Officers and Employees.
These principles were meant to ensure that government officials and employees abstained from Abuse of power whilst working in such a way as not to bring disrepute to the Federal Government.
All of the above are violations of the Order except option A which is stated in Part I Section 101 (f) of Executive Order 12674. It reads that, "Employees shall make no unauthorized statements..." thus insinuating that employees are allowed to make Authorized statements.
The options given are violations of these Executive Orders except A. Making authorized commitments.
It should be noted that executive orders 12674 and 12731 form the foundation policy on the ethical conduct of Federal Employees. They're simply used to guide the way that Federal workers behave.
The violations of the Acts include using public office for private gain, giving preferential treatment to any person or organization, and defrauding the government.
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a disease that transmitted from one person to another is called
Answer:
Communicable disease.
Answer:
contagious
Explanation:
i got it right on ignitia
The essential processes required to transition arriving personnel, equipment, and materiel in theater into forces capable of meeting operational requirements are collectively known as
This process of moving personnel, equipment, and materials to meet operational requirements is known as:
Joint reception,staging, onward movement, IntegrationWhat is Personnel Management?This refers to the handling and administrative functions of making workers or personnel in an organization.
Hence, we can note that based on this essential process of moving personnel, equipment, and materiel in theater into forces capable of meeting operational requirements are collectively known as Joint reception, staging, onward movement and Integration
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