The price elasticity of supply reflects the flexibility of firms to increase or decrease the quantity supplied.
Which of the following does NOT increase flexibility?
So far in this chapter, all of the elasticity metrics have been related to the demand side of the market. Knowing how sensitive the amount given is to a change in pricing is also helpful.
Let's say there is a surge in apartment demand. There will be a dearth of flats available at the previous level of rent, which will put pressure on rents to increase. With all other factors remaining constant, the lower the rise in rent necessary to address the shortfall and restore market equilibrium, the more sensitive the supply of available flats is to changes in monthly rates. In contrast, price would need to climb more if quantity provided is less responsive to price changes, resulting in a shortage brought on by a spike in demand.
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What will produce more accurate results when giving a survey?
A. Using the word "frequently" in a question
B. Creating face-to-face interviews
C. Adding boxes to check for answers
D. Creating an open questions
Answer:
Option B; Creating face-to-face interviews
Explanation:
Research has shown that face-to-face interviews tend to produce more accurate results when giving a survey. So the correct answer is option B.
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.40 per card, and the cost of printing is $0.10 per card. The company receives $3.75 per card sold. Since the cards have the current year printed on them, unsold cards have no salvage value. Their customers are from the four areas: Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each of the four regions is normally distributed with mean 2,300 and standard deviation 200. (Assume these four are independent.)
What is the optimal production quantity for the card?
Answer:
≈ 9644 quantity of card
Explanation:
given data:
n = 4 regions/areas
mean demand = 2300
standard deviation = 200
cost of card (c) = $0.5
selling price (p) = $3.75
salvage value of card ( v ) = $ 0
The optimal production quantity for the card can be calculated using this formula below
= u + z (0.8667 ) * б
= 9200 + 1.110926 * 400
≈ 9644 quantity of card
First we have to find u
u = n * mean demand
= 4 * 2300 = 9200
next we find the value of Z
Z = ( \(\frac{p-c}{p-v}\) )
= ( 3.75 - 0.5 ) / 3.75 = 0.8667
Z( 0.8667 ) = 1.110926 ( using excel formula : NORMSINV (0.8667 )
next we find б
б = 200\(\sqrt{n}\) = 400
Organic Grocer employed Jacobson as its manager and gave her authority to purchase supplies and goods for resale. Jacobson had business dealings with Acme Electronics Company. Jacobson contacted Acme and had it deliver a color television set to her house. She told Acme that the set was to be used in promotional activities. The promotional campaign did not take place, and Jacobson disappeared from the area, taking the television set with her. Acme now seeks to recover the purchase price of the set from Organic Grocer. Will Acme prevail?
Answer:
ltem of important must be shown separately
what is that GAAP
Is the concentration ratio an accurate measure of the extent of competition?
The four-firm concentration ratio
A.
is flawed in that it .
B.
is accurate because it is based on estimates from the U.S. Census Bureau.
C.
is flawed in that it .
D.
is accurate because it is based on national and global competition.
E.
is flawed in that it .
Answer:
Find the difference of 67.2 and 23.9.
Explanation:
Sunland Company uses a perpetual inventory system. Its beginning inventory consists of 83 units that cost $56 each. During June, (1) the company purchased 248 units at $56 each on account, (2) returned 10 units for credit, and (3) sold 206 units at $83 each on account. Journalize the June transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer:
Item 1
Debit : Merchandise $13,888
Credit : Accounts Payable $13,888
Item 2
Debit : Merchandise $560
Credit : Accounts Payable $560
Item 3
Debit : Accounts Receivable $17,098
Debit : Cost of Sales $11,536
Credit : Sales Revenue $17,098
Credit : Merchandise $11,536
Explanation:
See the journal entries prepared above.
Ralston Sports Equipment Company made 20,000 basketballs in a given year. Its manufacturing costs were $170,000 fixed. Assume that no price changes will occur in the following year and that no changes in production methods are applicable. Compute the budgeted cost for producing 25,000 basketballs in the following year.
If Ralston Sports Equipment Company made 20,000 basketballs in a given year. the budgeted cost for producing 25,000 basketballs in the following year would be $212,500.
What is the Budgeted cost?First step is to calculate the fixed cost per unit:
Fixed cost per unit = Total fixed costs / Number of units produced
Fixed cost per unit = $170,000 / 20,000 basketballs
Fixed cost per unit = $8.50 per basketball
Next step is to determine the budgeted cost for producing 25,000 basketballs:
Budgeted cost = Fixed cost per unit * Number of units
Budgeted cost = $8.50 per basketball * 25,000 basketballs
Budgeted cost = $212,500
Therefore the budgeted cost for producing 25,000 basketballs in the following year would be $212,500.
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From the UDSM organizational structure, use concrete examples to elaborate five communication routes that may arise during communication in the institution
examples of communication routes that may arise in any institution:
1-Upward communication: This communication route is from subordinates to superiors.
2-Downward communication: This communication route is from superiors to subordinates.
3-Horizontal communication: This communication route is between individuals or departments at the same level of authority.
4-Diagonal communication: This communication route is between individuals or departments at different levels of authority and not in a direct line of authority. An example in a university setting could be a student association communicating with the university administration on issues affecting student welfare.
5-External communication: This communication route is between the institution and external entities such as government agencies, donors, or other organizations. An example in a university setting could be the university's public relations office communicating with the media to promote the institution's research or community outreach activities.
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The most recurring item on a data list
When must you wash your hands
Answer:
Before, during, and after preparing food. Before and after eating food. Before and after caring for someone at home who is sick with vomiting or diarrhea. Before and after treating a cut or wound.
wash your hands before and after always and preferably with antibacterial soap
Evaluate the application of the systems approach to the analysis of work organisations. Suggest an example of a hospital work situation in which the systems approach might be appropriate.
The systems approach is a useful tool for analyzing work organizations as it considers the organization as a whole, comprising of various interconnected subsystems. In hospital work this approach can be used for the management of patient care.
What is systems approach?The systems approach helps identify the relationships between different components and how they interact to achieve the overall goals of the organization.
By analyzing the organization from a systems perspective, one can identify the strengths and weaknesses of the organization and develop strategies to improve performance.
The systems approach is a valuable tool for analyzing work organizations, especially in complex industries such as healthcare.
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what is the meaning of Accounting?
Accounting is the process of recording financial transactions pertaining to a business.
Answer:
The meaning of accounting is the action of dealing with money like a bank for a example.
On June 1, Barlow Inc. performed services and billed its client, Bertram Enterprises $1,500. On June 9, Bertram paid the account in full. The combined effect of these two transactions on Bertram’s tabular analysis is:
The effect of these two transactions is that, Bertram liability towards the payment of the amount of bill will decrease on June 9.
What is bill?A bill is defined as an instrument that is given to another person as a proof of purchase, and it also denotes that how much the amount would be paid by one person to another.
On June 1, Barlow Inc. completed work for Bertram Enterprises and billed them $1,500. Bertram paid the account in full on June 9th.
Bertram's tabular analysis is affected by the combined effect of these two transactions, are shown in the image below.
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(5 points)
Willie's Hot Dogs had sales last year of $250,300 and a guest count of 76,079.
Sales this year were $280,750 with a guest count of 83,556.
What was Willie's guest count percentage variance?
Willie's guest count percentage variance is 9.82%.
How to calculate guest count percentageTo calculate the guest count percentage variance
Use the following formula:
Guest count percentage variance = [(current year guest count - prior year guest count) / prior year guest count] x 100%
Guest count percentage variance = [(83,556 - 76,079) / 76,079] x 100%
Guest count percentage variance = (7,477 / 76,079) x 100%
Guest count percentage variance = 0.0982 x 100%
Guest count percentage variance = 9.82%
Therefore, Willie's guest count percentage variance is 9.82%.
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According to the text, ethical behavior begins with
Answer: When discussing moral and ethical issues, it is helpful to remember that ethical behavior begins with: each of us. What is one factor causing businesses to vigorously enforce ethical standards? One factor causing businesses to vigorously enforce ethical standards is the: fear of negative publicity.
Explanation:
Describe why the facility should have an inventory
list of equipment.
so people don't buy the same things again & again
to see
whats in stock
where they are displayed
how many they have
keep track of inventory
plan for restocking
know which items are running low
asset value for accounting or financial purposes.
Overall, an inventory list of equipment is a fundamental tool for facility management, providing comprehensive oversight, efficient maintenance planning, cost control, compliance adherence, emergency preparedness, and facilitating decision-making processes. It streamlines operations, enhances asset management, and contributes to the overall productivity and functionality of a facility.
Keeping Track: An inventory list helps facility managers know what equipment they have and where it is located.
Taking Care: The list helps plan when to fix or maintain equipment so it stays in good condition.
Saving Money: By knowing what equipment they have, managers can avoid buying things they don't need and spend money wisely.
Following Rules: Some facilities have rules to follow, and the inventory list helps managers keep track of important things like safety checks and paperwork.
Being Ready for Emergencies: The inventory list helps managers know which equipment is important during emergencies like fires or storms.
Planning and Buying: The inventory list helps managers decide what new equipment to buy and make a budget.
Talking to Insurance and Money People: The inventory list helps when talking to insurance or money people because it shows what equipment the facility has and how much it's worth.
provides information about the administrative and clinical machines in the facility.
gives you more control over your business' assets.
equipments inventory list provides information about the administrative and clinical machines in the facility. This information is used by the provider, supervisor, and/or accountant for future planning and tax paperwork
WHich of the following is not a type of skill needed by effective leaders?
Answer:
WHich of the following is not a type of skill needed by effective leaders?
Answer. power hankering skil
What can Lena do to avoid the risk of having short supplies in times of need?
Lena works in an artificial jewelry-manufacturing unit. It is a family run business, and they have been depending on a single supplier for years.
As Lena is a proactive person, she can avoid the risk of being in short supplies of raw material by keeping a _______ supplier for every one main supplier.
Answer:
Backup
Explanation:
Answer:
Backup
Explanation:
Correct on Plato
If production is increased to 700 boxes per day after the change in work rules, what is the new productivity?
Answer:
The new productivity is "29.17 boxes per hour". A further solution is provided below.
Explanation:
The given number of boxes,
= 700 boxes
After the change in the work rule,
The productivity will be:
= \(\frac{700 \ boxes}{3\times 8 \ hours}\)
= \(\frac{700 \ boxes}{24 \ hours}\)
= \(29.17 \ boxes \ per \ hr\)
1. Discuss the emerging issues in cost and management accounting ( 15 marks)
2. ABC Ltd made the following purchases
Date of purchase Units purchased Price/unit
1st January 500 100
2nd January 600 200
3rd January 800 400
Units used on 4th January are 900.
Required:
Determine the cost of units used and the value of the closing stocks using FIFO, LIFO and
weighted average. (15 marks)
The emerging issues in cost and management accounting are:
Sustainability as well as Environmental AccountingTechnology as well as AutomationIntegrated Reporting and Non-Financial Performance Measures, etc.What is the emerging issues in cost and management accountingNew technology like robots and smart software is changing the way we do accounting work and save money. We use special computer programs to help us figure out how much things cost and keep track of the numbers.
Using only financial measures to judge business success is not enough anymore. People now uses "Integrated Reporting" and includes non-financial measures as well.
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How can creating a customer profile help entrepreneurs identify their target market
Creating a customer profile helps identify markets because the information on it is too persuade the buyer, customer or Purchaser. I'm in 6th grade don't judge x
What is the difference between a 3.5 fold and an 8 fold essay?
A 3.5 fold essay consists of an introduction, three body paragraphs, and a conclusion, while an 8 fold essay expands on the 3.5 fold structure by adding more detail and nuance to each paragraph.
The terms "3.5 fold" and "8 fold" essay refer to different methods of organizing the structure of an essay. A 3.5 fold essay consists of an introduction, three body paragraphs, and a conclusion. The three body paragraphs each have a specific purpose and follow a specific structure: the first paragraph introduces the main idea, the second paragraph supports the main idea with evidence, and the third paragraph provides a conclusion or summary.
On the other hand, an 8 fold essay expands on the 3.5 fold structure by adding more detail and nuance to each paragraph. The introduction and conclusion remain the same, but each body paragraph is broken down into smaller sections that address different aspects of the main idea. This allows for a more thorough exploration of the topic and a more complex argument.
In summary, the main difference between a 3.5 fold and an 8 fold essay is the level of detail and complexity in the organization of the body paragraphs. The 8 fold essay provides a more in-depth exploration of the topic, while the 3.5 fold essay is a simpler and more straightforward structure.
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Company Dept. A Dept B. Predetermined overhead rate per direct labor hour $2.10 $2.40 $1.80 Direct labor hours hours worked on Job ABC 30 17 13 Based on this information, the overhead applied to Job ABC using multiple predetermined overhead rates is ______.
Answer:
Total applied overhead= $64.2
Explanation:
Giving the following information:
Dept. A Dept B.
Predetermined overhead rate per direct labor hour $2.40 $1.80
Job ABC:
Direct labor hours Dept A= 17
Direct labor hours Dept B= 13
We need to use the departmental predetermined overhead rates.
To allocate overhead, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Dept A= 2.4*17= $40.8
Dept B= 1.8*13= $23.4
Total applied overhead= $64.2
Kathy Elliot has decided that she will start an internet company to sell reliable used cars to customers Nationwide she has decided to use the sole proprietorship business format. Elliot's next step is to write a formal _____ before she applies for a business loan
Answer:
business plan
Explanation:
_____ money finish the diagram
gets its value from the government,
is common throughout the world today,
includes U.S. and Canadian dollars
Answer Choice:
A.Commodity
B.Representitve
C.M1
D.Fiat (correct answer)
A bank has written a call option on one stock and a put option on another stock. For the first option the stock price is 50, the strike price is 51, the volatility is 28% per annum, and the time to maturity is nine months. For the second option the stock price is 20, the strike price is 19, the volatility is 25% per annum, and the time to maturity is one year. Neither stock pays a dividend, the risk-free rate is 6% per annum, and the correlation between stock price returns is 0.4. Calculate a 10-day 99% VaR.
Answer:
10-Day 99% VaR = 3.61
Explanation:
Data Given:
For First Option:
Stock Price = 50
Strike Price = 51
Volatility = 28% per annum
Time to maturity = 9 months
For Second Option:
Stock Price = 20
Strike Price = 19
Volatility = 25% per annum
Time to maturity = 12 months or 1 year
Risk Free Rate = 6% per annum
Correlation = 0.4
Find 10-day 99% VaR.
Solution:
First of all we need to refer the DerivaGem Model to dig out the change in price equation for both the options.
So, according to DerivaGem Model, We have following data:
For First Option:
Value = -5.413
Delta Value = -0.589
For Second Option:
Value = -1.014
Delta = -0.284
Change in Price = (Delta value of First Option x Stock Price)Y1 + (Delta value of the second option x Stock Price)Y2
Change in Price = (-0.589 x 50)Y1 + (-0.284 x 20)Y2
So, We will get the Change in Price Linear Equation for both the options.
Change in Price = -29.45Y1 -5.68Y2
Now, we have to calculate the Daily Volatility Percentage.
Formula:
Daily Volatility Percentage = Volatility/ Square root of number of days active in annum
Number of Days Active = 252
Volatility for First Option = 28%
Volatility for Second Option = 25%
Daily Volatility Percentage for First Option = 28%/\(\sqrt{252}\)
Daily Volatility Percentage for First Option = 0.0176
Similarly,
Daily Volatility Percentage for Second Option = 25%/\(\sqrt{252}\)
Daily Volatility Percentage for Second Option = 0.0157
Now, utilizing the above calculated data, we can find the one-day variance of change in price.
1-Day Variance =\((29.45^{2} *0.0176^{2}) + (5.68^{2} * 0.0157^{2}) - (2 * 29.45 * 0.0176 * 5.68 * 0.0157 * 0.4)\)
Solving the above equation:
We get:
1-Day Variance = 0.2396
Now, we have to find the standard deviation of 1-Day Variance:
SD of 1-Day Variance = \(\sqrt{0.2396}\)
SD of 1-Day Variance = 0.4895
So,
Now, in order to find the value of one day 99% VaR from the table, we have all the prerequisites.
So,
Value of One day 99% VaR from table = 2.33
But we need 10-Day 99% VaR.
So, number of days = 10
Hence,
10-Day 99% VaR = \(0.4895 * 2.33 * \sqrt{10}\)
10-Day 99% VaR = 3.61
According to the above material, there exist large differences between economic growth rate using traditional expenditure approach and the satellite night-light data. How do you evaluate the night-light data method? and can you identify several reasons why there exists such differences?
The use of satellite night-light data as a method to evaluate economic growth has both strengths and limitations. Reasons for Differences between Traditional Expenditure Approach and Night-light Data: Informal Economy, Data Limitations, Urbanization Bias and Structural Changes.
Here is an evaluation of the night-light data method and several reasons for the differences observed between the traditional expenditure approach and the night-light data:
Evaluation of the Night-light Data Method:
Objective and Timely: Satellite night-light data provides an objective and timely measure of economic activity. Wide Coverage: Night-light data can cover large geographical areas, including remote and inaccessible regions. Granularity: The data can be analyzed at a fine-grained level, allowing for detailed spatial analysis of economic patterns. This can help identify pockets of growth and disparities within regions.Reasons for Differences between Traditional Expenditure Approach and Night-light Data:
Informal Economy: The traditional expenditure approach relies on official economic data, which may not fully capture the informal sector. Data Limitations: Night-light data has its limitations. It primarily measures economic activity related to lighting, which may not capture other dimensions of economic growth such as services or knowledge-based industries. Urbanization Bias: Night-light data tends to be more representative of urban areas with higher population density and greater access to electricity. Structural Changes: The traditional expenditure approach focuses on consumption and investment, while night-light data primarily captures the energy consumption associated with lighting.For such more question on economic:
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Those arguing against being socially responsible might make the claim that costs for social goals are ultimately
higher prices
Wember Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The cost formula for catering supplies is $400 per month plus $82 per job plus $10 per meal. A typical job involves serving a number of meals to guests at a corporate function or at a host's home. The company expected its activity in September to be 20 jobs and 144 meals, but the actual activity was 16 jobs and 141 meals. The actual cost for catering supplies in September was $3,100. The catering supplies in the planning budget for September would be closest to:
Answer:
Standard cost Supplies= $3,480
Explanation:
Giving the following information:
The cost formula for catering supplies is $400 per month plus $82 per job plus $10 per meal.
The company expected its activity in September to be 20 jobs and 144 meals.
To calculate the total budgeted cost, we need to multiply the standard cost for the planned production:
Standard cost Supplies= 400 + (82*20) + (10*144)
Standard cost Supplies= $3,480
If Avon and Merck joined together to produce a cream that slows down the aging process, this would be called a(an)
I think you are asking what type of business this is. This is referred to as a "partnership". This is an ownership structure in which a single business is owned by two or more people. All individuals involved in a partnership are expected to contribute money, property, labor, or skill and share risks associated with operating a business. I hope this answers what you are looking for. :)