Answers
Answer:
Determine the number of hours available for patient care.
Explanation:
According to researcher, it is a a relative fact that out of 8hours within the day, the productive hour that can be attributed to an average employee is just 2hours and some minutes, so this productive hour is regarded as actual hours by employee in treating patient or recording above average productivity, so employers usually calculate the productive hour instead of work paid.
It should be noted that the The primary reason for calculating productive hours paid instead of simply calculating work paid per year is that productive hours enable the manager to Determine the number of hours available for patient care.
Related Questions
1. Complete the following financial statements of Omega Company on the basis of the ratios given below.
omega company Income Statement for the year ended June 30 2001
Sales 2000000
Cost of Goods sold 600000
Gross profit 1400000
Operating Expenses. 1190000
Earning Before Interest and Tax. ? Debenture Interest. 10000
Income Tax. ?
Net Profit ?
Omega Company Income Statement For the year ended June 30 2001
Assets liabilities
Cash ? sundry creditors 60000
Stocks ? 10% debentures ?Debiors. ? Total liabilities. ?
total Current Assets ? reserve and surplus ?
Fixed Assets. ? share capital ?
Total Assets total liability and equity ?Additional Information
A. Net Profit to Sale Times 5%
B. Current Ratio. 1.5
C.Return on Net Worth 20%
D. Inventory Turnover 15
E Share Capital to Reserve 4:1
F. Tax Rate 50%
Answers
To complete the financial statements of Omega Company for the year ended June 30, 2001, we can use the provided ratios and additional information.
A. Net Profit to Sales Ratio = 5%
Net Profit = Net Profit to Sales Ratio * Sales
Net Profit = 0.05 * $2,000,000 = $100,000
B. Current Ratio = 1.5
Current Assets = Current Ratio * Total Liabilities
Total Liabilities = $60,000 (sundry creditors)
Current Assets = 1.5 * $60,000 = $90,000
C. Return on Net Worth = 20%
Net Worth = Net Profit / Return on Net Worth
Net Worth = $100,000 / 0.2 = $500,000
D. Inventory Turnover = 15
Cost of Goods Sold = Sales / Inventory Turnover
Cost of Goods Sold = $2,000,000 / 15 = $133,333
E. Share Capital to Reserve Ratio = 4:1
Share Capital = (4 / 5) * Reserve and Surplus
Share Capital = (4 / 5) * Net Worth = (4 / 5) * $500,000 = $400,000
Reserve and Surplus = $500,000 - $400,000 = $100,000
F. Tax Rate = 50%
Income Tax = Tax Rate * Net Profit
Income Tax = 0.5 * $100,000 = $50,000
Now we can complete the financial statements:
Omega Company Income Statement for the year ended June 30, 2001:
Sales: $2,000,000
Cost of Goods Sold: $600,000
Gross Profit: $1,400,000
Operating Expenses: $1,190,000
Earnings Before Interest and Tax: $210,000 (Gross Profit - Operating Expenses)
Debenture Interest: $10,000
Income Tax: $50,000
Net Profit: $100,000 (Earnings Before Interest and Tax - Debenture Interest - Income Tax)
Omega Company Balance Sheet as of June 30, 2001:
Assets:
Cash: To be determined
Stocks: To be determined
Debtors: To be determined
Fixed Assets: To be determined
Total Assets: To be determined
Liabilities:
Sundry Creditors: $60,000
10% Debentures: To be determined
Total Liabilities: To be determined
Equity:
Share Capital: $400,000
Reserve and Surplus: $100,000
Total Liability and Equity: To be determined
Please note that the values for Cash, Stocks, Debtors, Fixed Assets, 10% Debentures, Total Assets, Total Liabilities, and Total Liability and Equity need to be provided in order to complete the financial statements accurately.
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Question 3 (2.5 points)
Which IBC will we take in BIM?
MOS Word Certification
Food Handlers Certification
Adobe Illustrator
IT Specialist Java
4
Answers
Answer:abobe illustrator
Explanation:
Adobe Illustrator IBC will we take in BIM. Thus, the option (c) is correct.
What is IBC?
The IBC is the abbreviation for the Insolvency and Bankruptcy Code, which was created in 2016. The primary purpose of the IBC is to organize and resolve corporate and partnership insolvency. The credit availability pleased the stakeholders. They mostly deal with insolvency and bankruptcy issues.
The International Building Code will contain BIM, which is an abbreviation for Building Information Modeling, which is the fundamental work for developing and managing the information built.
There are numerous tools incorporated into modern technology involving digital representation. Adobe Illustrator, which is based on vector graphics and design, is the best example.
As a result, the Adobe Illustrator IBC will we take in BIM. Therefore, option (c) is correct.
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What is the best source of information to use when purchasing a new car?
O Social media posts
O Car salesman on the lot
O Advertisement in a car magazine
O Unpaid reviews on reputable car sites
Answers
social media spreads lies, car salesman might lie about the car in order to make a sale, and an ad will do the same.
Option D. Unpaid reviews on reputable car sites
What sources of information do you have about cars?Awards and rankings. There are many awards and many websites publish rankings of vehicles in different categories.
NHTSA or IIHS. These two organizations evaluate the safety of new cars.
Government website.
Understanding how a car works can help you drive more safely, reduce the risk of accidents, and extend the life of your car. For example, if you know how brakes wear over time, you can identify signs of wear early and replace them before increasing the risk of brake failure.
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Volatile price changes, technological changes, and government intervention are what type of risks?
Answers
Volatile price changes, technological changes, and government intervention are external risks that can impact a company's operations and performance.
What are Volatile price changesVolatile price changes refer to fluctuations in input or product prices, which can affect profitability and cost structure. Technological changes can introduce advancements or disrupt an industry, requiring companies to adapt to avoid becoming obsolete.
Government intervention, through regulatory changes or policies, can create uncertainties and challenges for companies, affecting operations, costs, and market access.
To mitigate these risks, companies should implement risk management strategies such as diversification, contingency planning, staying informed about market trends, investing in R&D, and engaging with government stakeholders.
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Which statement BEST matches the image. Cannot be used more than once. < < soda soda soda 个 orange juice • A orange juice • A orange juice A 1. Inefficient / Underutilization 2. Impossible / Unobtainable Technological advances in production 3. 4. Efficient Production
Answers
We can see here that the statement that best matches the image is Inefficient production / Underutilization.
What is inefficient production?Inefficient production refers to a situation where resources are not utilized optimally or where the production process does not achieve the highest possible output given the available resources and technology. It implies that the production process is not operating at its maximum efficiency or effectiveness.
Addressing inefficiencies in production is crucial for organizations to enhance productivity, reduce costs, improve competitiveness, and maximize their output.
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The income statement of Trixle Motors Inc. is given to you. What is the net profit for the given period? A.
$1,600,000
B.
$ 43,500
C.
$1,665,600
D.
$1,556,500
Answers
Answer:
D.$1,556,500
Explanation:
Net profit is calculated by subtracting total expenses from total revenue.
In the case, total revenue is equal to sales revenue + interest revenue
=1,580,000 + 20,000
=1,600,000
Total expenses will be salaries + Rent + advertisement + repair
=26,000 + 6,000 + 7,000 +4500
=43,500
net profit = 1,600,000 - 43,500
net profit =1,556,500
Answer:
D.
$1,556,500
Explanation:
4. Credit unions are for-profit organizations. True False
Answers
Answer:
False
Explanation:
Credit unions are not-for-profit organizations that exist to serve their members.
Periodic inventory by three methods
The beginning inventory for Midnight Supplies and data on purchases and sales for a three-month period are shown below:
1> determine the inventory on march 31 for the period and COGS using FIFO
2. determine the inventory on march 31 for the period and COGS using LIFO
3. Determine the inventory on March 31 for the period and COGS using weighted avg unit (round nearest cent)
4. compare cross profit for the inventories
Answers
1. Merchandize inventory, March 31; 1,010, 625. Cost of Merchandize sold; 10, 891, 875.
2. LIFO, Ending Inventory = 881, 250. Cost of goods sold = 11, 021, 250
3. Weighted average, Ending inventory = 981, 000. Cost of goods sold = 10, 921, 500
4. FIFO LIFO Weighted Average
sales 19, 875, 000 19, 875, 000 19, 875, 000
Cost of goods 10, 891, 875 11, 021, 250 10, 921, 500
Gross profit 8, 983, 123 8, 853, 750 8, 953, 500
Inventory March 31, 1, 010, 625 881, 250 981, 000
How to calculate FIFO and LIFO?
To calculate LIFO (Last In, First Out) and FIFO (First In, First Out), Ending Inventory, and Cost of Goods Sold, you need to have information on the cost of goods, the quantity of goods sold, and the quantity of goods remaining in inventory.
Calculate the cost of goods sold (COGS) using LIFO method:
Identify the cost of the most recent purchases and multiply them by the number of units sold.
Add the cost of the previous purchases to the remaining inventory at the end of the period.
Which is 7500 x $75 + 3750 x $85 = 881, 250
Calculate the ending inventory:
For LIFO: The remaining inventory is the cost of the earliest purchases.
Which is 11902500 - 881250 = 11, 021, 250
To calculate the weighted average;
Ending inventory: $11,250 x 87.20 = 981 000
Cost of goods sold: $ 11902500 - 981000 = $10, 921, 500
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Data collected from selected major metropolitan areas in the eastern United States show that 5% of individuals living within the city limits move to the suburbs during a one-year period, while 2% of individuals living in the suburbs move to the city during a one-year period.
Prepare the matrix of transition probabilities.
Answers
Industry standards suggest that 7% of new vehicles require warranty service within the first year. Jones Nissan in Sumter, South Carolina, sold 9 Nissans yesterday. (Round your mean answer to 2 decimal places and the other answers to 4 decimal places.)
a. What is the probability that none of these vehicles requires warranty service?
b. What is the probability exactly one of these vehicles requires warranty service?
c. Determine the probability that exactly two of these vehicles require warranty service.
d. Compute the mean and standard deviation of this probability distribution.
Answers
The standard deviation is 0.749 and the probability distribution's mean is 0.63.
What is Standard Deviation?A set of data values' variation or dispersion from their mean (average) is measured by their standard deviation. It tells how far apart the individual data points are from the data set's mean value. To put it another way, it is a measure of how different the data are from the mean. A standard deviation that is smaller indicates that the data points are closer to the mean, while a standard deviation that is larger indicates that the data points are further from the mean. It is calculated by taking the square root of the variance, and it is frequently used in statistical analysis.
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The table below shows Lanark's production possibilities.
A B C D E F
Wheat 0 180 315 405 450 468
Cars 190 181 163 127 73 0
a. If Lanark is producing 145 cars, it can produce approximately
wheat.
b. If Lanark is currently producing combination C, the cost of 90 more wheat is
(Click to select)
.
c. If Lanark is currently producing combination D, the approximate per unit cost of an additional car is
(Click to select)
. If necessary, round your answers to 1 decimal place. Remember to round 0.05 up to 0.10.
Answers
If Lanark is currently generating 145 buses, it can generate about 180 units of wheat. .
b. The cost of 90 further wheat is 90.
c. The approximate per unit cost of an fresh auto is 54.
To determine the approximate quantum of wheat Lanark can produce if it's presently producing 145 buses , we need to find the matching value in the" Wheat" column. Grounded on the given table, we can see that the values in the" buses" column drop from left to right. thus, we need to find the combination where the number of buses is closest to 145, which is combination B. In combination B, Lanark can produce roughly 180 units of wheat.
We can find the cost of 90 further wheat by comparing the wheat values between combinations C and D, If Lanark is presently producing combination C. The wheat value in combination C is 315, and the wheat value in combination D is 405.
The difference between these two values represents the fresh wheat produced when moving from combination C to combination D. In this case, the difference is 405- 315 = 90. thus, the cost of 90 further wheat is the difference between the wheat values in combination C and D, which is 90.
we can determine the approximate per unit cost of an fresh auto by comparing the auto values between combinations D and E, If Lanark is presently producing combination D. The auto value in combination D is 127, and the auto value in combination E is 73.
The difference between these two values represents the drop in auto product when moving from combination D to combination E. In this case, the difference is 127- 73 = 54.
thus, the approximate per unit cost of an fresh auto is the difference between the auto values in combination D and E, divided by the drop in auto product, which is 54/ 1 = 54.
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T need help with the question:
If MDS wants to reduce the number of inspection workers, what is the minimum number of workers required to ensure the capacity is sufficient?
Answers
extinguishers for fires
Safety showers and eyewash stations.
hoists and cranes
Emergency breathing devices and self-contained breathing equipment.
What safety-related actions must employees take, according to OSHA?Establish a workplace free from significant known hazards and adhere to the guidelines, guidelines, and regulations published under the OSH Act. Check the working environment to see if OSHA regulations are being followed.
When inspecting a workplace, what does OSHA check for?The posting and recordkeeping requirements of OSHA will receive special attention during an inspection. The records of deaths, injuries, and illnesses that you are supposed to retain will be requested by the compliance officer.
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Ganon Co. applies overhead based on direct labor hours. They have an applied overhead of $48,000 and actual overhead of $66,500 for the month of March. In March, the total number of direct labor hours was 1,200 and the total number of machine hours was 5,910. Overhead for the year was estimated to be $690,000. How many direct labor hours were estimated for the year
Answers
Answer:cud unfriend and I have a good idea about how you are cute lol
Fjjfjffnf
Explanation:
Cjfjfjffuhejejeiejwkwkwkd is tyiooo and you have to do it for you or not
Suppose a shift of the labor-demand curve results in an increase of $5 in the equilibrium wage. How does this shift affect the value of the marginal product of labor?
Answers
When the labor-demand curve shifts, it means that the demand for labor has changed, which affects the equilibrium wage. If the equilibrium wage increases by $5, it means that employers are willing to pay more for each unit of labor they hire.
How does this change the worth of the labor's marginal product?This increase in wage suggests that the marginal product of labor has also increased. The marginal product of labor is the additional output produced when one more unit of labor is hired.
When employers are willing to pay more for labor, it suggests that the output produced by each unit of labor has increased.
This can be due to various reasons, such as technological improvements, increased demand for goods and services, or an increase in the efficiency of production processes.
In summary, a shift in the labor-demand curve that results in an increase in the equilibrium wage suggests an increase in the value of the marginal product of labor.
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A firm with a cost of capital of 7% is considering two projects (they are not mutually exclusive), one expected to return 9% and a second expected to return 9.5%. Which projects should it pursue
Answers
Answer:
pursue both projects
Explanation:
The projects are not mutually exclusive thus the choice of one project does not hold back the pursuant of another (can occur at the same time).
Projects which provide a return above their cost of capital must be pursued as they are less risky.
Both projects provide the return above the costs of capital and should be pursued.
Baldwin Corp. ended the year carrying $19,196,000 worth of inventory. Had they sold their entire inventory at their current prices, how much more revenue would it have brought to Baldwin Corp.?
Answers
Answer: $19,196,000
Explanation:
As this is the end of the year it means that all costs associated with selling inventory have already been incurred and accounted for.
The total revenue that Baldwin would have received had they sold off all their inventory would be the inventory worth of $19,196,000 because there are no more costs to be deducted from it as they have all been deducted already.
Suppose that on June 3 Bobby's Auto Service, Inc purchased equipment on acoount for $42.000, Bobby's equipment will semain usehe for tive years and then be worthless Bobby uses the straight-ine method of depreciation. Bobby's Auto Service, Inc raported book value of ts land and equipment at June 30 is as follows.
Answers
Answer:
Jesus our
Explanation:
Lord and savior
2. What is the difference between international marketing and global marketing
Answers
Answer:
Global and international
plz follow and thanks me
Explanation:
Global marketing views the whole world as one, and creates products that will only require weeks to fit into any regional marketplace.
International marketing means that marketing decisions are made in the individual countries, with staff who is the most knowledgeable about the target markets.
hope it's help
Three different methods for assembling a product were proposed by an industrial engineer. To investigate the number of units assembled correctly with each method, 30 employees were randomly selected and randomly assigned to the three proposed methods in such a way that each method was used by 10 workers. The number of units assembled correctly was recorded, and the analysis of variance procedure was applied to the resulting data set. The following results were obtained: SST = 10,730; SSTR = 4520.
Answers
The analysis of variance (ANOVA) table is a tabular representation of the findings. It details each source of variation's sources of variation, degrees of freedom, sum of squares, mean squares, and F-ratio.
The ANOVA tableTo set up the ANOVA table, we need the following information:
Total sum of squares (SST): 10,800
Sum of squares between treatments (SSTR): 4560
Calculating the sum of squares within treatments (SSE):
SSE = SST - SSTR
SSE = 10,800 - 4560
SSE = 6240
For degrees of freedom (df),
Total degrees of freedom (dfTotal) = Total number of observations - 1
Treatment degrees of freedom (dfTreatment) = Number of treatments - 1
Error degrees of freedom (dfError) = dfTotal - dfTreatment
In this case.
Total number of observations = 30
Number of treatments = 3
dfTotal = 30 - 1
= 29
dfTreatment = 3 - 1
= 2
dfError = 29 - 2
= 27
Calculating mean squares (MS),
MST = SSTR / dfTreatment
MSE = SSE / dfError
MST = 4560 / 2 = 2280
MSE = 6240 / 27 ≈ 231.85
Calculating the F-ratio,
F-ratio = MST / MSE
F-ratio = 2280 / 231.85
≈ 9.83
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Question:
Three different methods for assembling a product were proposed by an industrial engineer. To investigate the number of units assembled correctly with each method. 30 employees were randomly selected and randomly assigned to the three proposed methods in such a way that each method was used by 10 workers. The number of units, assembled correctly was recorded, and the analysis of variance procedure was applied to the resulting data set. The following results were obtained: SST = 10,800. SSTR = 4560. Set up the ANOVA table for this problem. Using alpha = .05. test for any significant difference in the means for the three assembly methods.
Unearned revenues refer to a(n): Group of answer choices Asset that will be used over time. Expense incurred because a customer has paid in advance. Liability that is settled in the future when a company delivers its products or services. Increase in revenues as a result of delivering products or services to a customer. Decrease in an asset.
Answers
Answer:
Liability that is settled in the future when a company delivers its products or services.
Explanation:
Unearned revenue is money received for a service that is yet to be provided or a product that is yet to be delivered.
Unearned revenue is recorded as a liability on the balance sheet. The reason for this is because unearned revenue represents debts owed.
Once the service is rendered, the unearned revenue is recorded on the income statement as a revenue.
Example of unearned revenue : a company offers a one year subscription to consumers. The company is earning revenue for services that is yet to be rendered
According to Feiler, what is the good news about families today? What is the bad news and the worst news? Have you witnessed any examples of the good or bad news about families personally?
Answers
A new approach to family dynamics, inspired by cutting-edge ideas gathered from specialists in the fields of science, business, sports, and the military, has been outlined in The Secrets of Happy Families by New York Times bestselling author Bruce Feiler.
According to Feiler, What is the secret of happy families?Despite all the new studies on individual happiness, spending time with the people you care about may be quite fulfilling. In actuality, it is the best indicator of overall life pleasure. The pace and demands of everyday life leave almost everyone feeling fully exhausted, and this tiredness has a significant negative impact on family harmony.
Numerous studies have found that stress is the top issue for both parents and kids. This refers to both internal and external stress. Additionally, stressed parents pass that stress on to their kids. Parental stress damages children's brains impair their immune systems, and increases their chances of obesity, mental disease, diabetes, allergies, and even tooth decay, according to studies.
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LEONE COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Finished goods inventory, beginning Cost of goods manufactured Goods available for sale Less: Finished goods inventory, ending Cost of goods sold Gross profit General and administrative expenses Selling expenses Net income $ 84,000 84,000 92.000 $ 3,251,000 $ (8,000) 3,259,000 127.000 603,000 2,529,000
How do you find the cost of goods manufactured?
Answers
The cost of goods manufactured (COGM) is the cost of all the products that a company has manufactured during a period.
How to calculateIt is calculated by adding the beginning finished goods inventory to the total manufacturing costs, and then subtracting the ending finished goods inventory.
In the income statement you provided, the cost of goods manufactured is calculated as follows:
COGM = $92,000 + $3,251,000 - $127,000 = $3,224,000
Therefore, the cost of goods manufactured for Leone Company is $3,224,000.
Here is the formula for calculating COGM:
COGM = Beginning finished goods inventory + Total manufacturing costs - Ending finished goods inventory
The total manufacturing costs include direct materials, direct labor, and manufacturing overhead.
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On the statement of cash flows prepared by the indirect method, a $50,000 gain on the sale of investments would be: Group of answer choices added to dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends. added to net income in converting the net income reported on the income statement to cash flows from operating activities. deducted from net income in converting the net income reported on the income statement to cash flows from operating activities. deducted from dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends.
Answers
Answer: deducted from net income in converting the net income reported on the income statement to cash flows from operating activities.
Explanation:
Cashflows relating to investments that a company has should go to the Investing section of the cashflow statement. This includes proceeds from their sale.
The gain on sales however, is included in the calculation of net income and net income goes to the operating section of the cashflow statement. When putting the total sales proceeds for the asset in the investing section therefore, the gain must be subtracted from the net income in order to avoid double counting as it is already included in the full sales proceeds going to the Investing section.
Develop a managerial report (1,000-1,250 words) summarizing your analysis of the OEI service capabilities. Make recommendations regarding the number of technicians to be used when OEI reaches 20 and then 30 customers, and justify your response. Include a discussion of the following issues in your report:
What is the arrival rate for each customer?
What is the service rate in terms of the number of customers per hour? (Remember that the average travel time of 1 hour is counted as service time because the time that the service technician is busy handling a service call includes the travel time in addition to the time required to complete the repair.)
Waiting line models generally assume that the arriving customers are in the same location as the service facility. Consider how OEI is different in this regard, given that a service technician travels an average of 1 hour to reach each customer. How should the travel time and the waiting time predicted by the waiting line model be combined to determine the total customer waiting time? Explain.
OEI is satisfied that one service technician can handle the 10 existing customers. Use a waiting line model to determine the following information: (a) probability that no customers are in the system, (b) average number of customers in the waiting line, (c) average number of customers in the system, (d) average time a customer waits until the service technician arrives, (e) average time a customer waits until the machine is back in operation, (f) probability that a customer will have to wait more than one hour for the service technician to arrive, and (g) the total cost per hour for the service operation.
Do you agree with OEI management that one technician can meet the average 3-hour service call guarantee? Why or why not?
What is your recommendation for the number of service technicians to hire when OEI expands to 20 customers? Use the information that you developed in Question 4 (above) to justify your answer.
What is your recommendation for the number of service technicians to hire when OEI expands to 30 customers? Use the information that you developed in Question 4 (above) to justify your answer.
What are the annual savings of your recommendation in Question 6 (above) compared to the planning committee's proposal that 30 customers will require three service technicians? (Assume 250 days of operation per year.) How was this determination reached?
Answers
The purpose of this research is to examine the service proficiency of OEI and suggest suitable staffing levels for accommodating a growing clientele of 20 and 30.
1. Arrival Rate for Each Customer: 1.25 customers per hour.
2. Service Rate in Terms of Customers per Hour: 1/3 customers per hour.
3. Travel Time and Waiting Time: The waiting time starts from the moment the customer contacts OEI until the machine is back in operation, including both travel and repair time.
What is the managerial report1. Arrival Rate for Each Customer: 1.25 customers per hour.
Based on historical data, the arrival rate for each customer is calculated by dividing the total number of customers by the total time. let us say that OEI receives an average of 10 customers per day, and the service operates for 8 hours a day. So, the arrival rate per customer is:10 customers / 8 hours
= 1.25 customers per hour.
2. Service Rate in Terms of Customers per Hour: 1/3 customers per hour.
The service rate takes into account the time required to complete a repair, including travel time. OEI estimates that each service call takes approximately 1 hour for travel time and 2 hours for the actual repair. So, the service rate is:1 customer / 3 hours
= 1/3 customers per hour.
3. Travel Time and Waiting Time:
OEI is different from traditional waiting line models since service technicians need to travel an average of 1 hour to reach each customer. In this case, the travel time and waiting time predicted by the waiting line model should be combined to determine the total customer waiting time.Learn more about managerial report from
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Answer the following questions on the basis of the monopolist's situation is illustrated in the following graph.
a. At what output rate and price does the monopolist operate?
b. In the equilibrium, approximately what is the firm's total cost and total revenue?
c. What is the firm's economic profit or loss in equilibrium?
Answers
The following answers are based on a monopoly economy.
The output rate and the price at which the monopolist operates based on the graph is 100 quantities at $10.In the market equilibrium, the firm's total cost and total revenues are $750 and $1000 respectively. The firm's economic profit in the equilibrium is $250.What is a monopoly?A monopoly, as defined by Irving Fisher, is a market with "no competition," resulting in a scenario in which a certain individual or organization is the exclusive supplier of a given product.
To arrive at answer a, we need to recall that the equilibrium of a monopolist is when the Marginal Cost equals the Marginal Revenue and the Marginal Cost Curve (MC) cuts the Marginal Revenue Curve (MR ) from below.
At this point, the equilibrium output is 100, and the equilibrium price is $ 10 for every unit of production.
For the answer is b, given that the firm is producing 100 units of goods at an average total cost of $7.5 (derived from the point that aligns with MR = MC), therefore,
Total Cost = Equilibrium Output * ATC (Average Total Cost)
= 7.5 * 100
= $750
To arrive at answer c,
Recall that Economic profit is the difference between the money collected from the sale of a product and the expenses of all inputs utilized, as well as any opportunity costs, is the economic profit or loss.
Hence, Economic Profit = Total Revenue (TR) Less Total Cost (TC)
= $1000 - $ 750
= $250
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What is Economics? and why it is a social science?
Answers
Answer: Economics is the scientific study of the ownership, use, and exchange of scarce resources – often shortened to the science of scarcity. Economics is regarded as a social science because it uses scientific methods to build theories that can help explain the behaviour of individuals, groups and organisations.
Economics is a social science focused on the economy and economic activities. Students majoring in economics study economic systems and how individuals and organizations produce and exchange goods.
5.6 Last month Quick Industries produced 900 units. This month they produced 1,264 units. What is the rate of change in production? a. 29.8% b. 32.8% c. 40.4% d. 60%
Answers
Answer: C. 40.4%
Explanation:
To find the rate of change in production, we can use the following formula:
Rate of change = (New value - Old value) / Old value * 100
Where,
Old value = Production of last month = 900
New value = Production of this month = 1264
Substituting the values in the formula,
Rate of change = (1264 - 900) / 900 * 100= 364 / 900 * 100= 0.404 * 100= 40.4%
Therefore, the rate of change in production is 40.4%, which is an option (c). I hope that this answer has helped you!
Answer:
The correct answer is C.
Explanation:
The rate of change in production is: (1264 - 900) / 900 = 0.404 or 40.4%. So, the correct answer is c. 40.4%
Management at Work
A hurricane has disrupted operations at one of your company’s facilities and shut down operations completely for several of your key suppliers. Inputs to your manufacturing process will be exhausted within days, and the company will be unable to fulfill its contracts with customers. In addition, many employees have suffered serious damage to their homes, and a few people are missing. You are a manager, and your employees are looking to you for leadership.
Which of the following do you do? Check all that apply.
- Set up a system for communicating facts as soon as they are determined so employees hear them first from management and not on the news.
- Use a highly emotional tone to communicate how seriously you take the situation and a sense of urgency.
- Walk around to be visible and accessible to as many employees as possible so they know you are engaged in crisis management.
- In oral and written communications, focus on the damage and loss of life that has occurred, since any note of optimism would be disrespectful.
Answers
Answer:
✔ Set up a system for communicating facts as soon as they are determined so employees hear them first from management and not on the news.
✘ Use a highly emotional tone to communicate how seriously you take the situation and a sense of urgency.
✔ Walk around to be visible and accessible to as many employees as possible so they know you are engaged in crisis management.
✘ In oral and written communications, focus on the damage and loss of life that has occurred, since any note of optimism would be disrespectful.
Select the correct point on the graph. Which point on the graph indicates the lowest quantity supplied of goods? 9.00 8.00 Price per Pound 7.00 6.00 5.00 4.00 3.00 2.00 supply Curve 1,000 2,000 3,000 4,000 5,000 6,000 7.000 Quantity in Pounds
Answers
Answer:
It would be A
Explanation:
the right location on the graph. Which point on the graph represents the lowest number of items supplied It is 9.00 8.00 Price per Pound. As a result, choice (A) is the right one.
What is meant by supply Curve?In economics, supply refers to the quantity of a resource that businesses, producers, workers, suppliers of financial assets, or other economic agents are willing and able to offer to the market or to a specific person. Supply can refer to manufactured items, labor hours, raw resources, or any other limited-supply or high-value item.
Supply is frequently represented graphically as a supply curve, with the price per unit on the vertical axis and the amount delivered as a function of price on the horizontal axis. This undesirable yet common practice involves flipping the independent and dependent variables from their regular positions.
The supply curve might represent a single seller or the market as a whole, totaling the quantity given by every vendor.
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IMAGINE A NON-EXISTING PRODUCT, CREATE IT , DESCRIBE THE FEATURES, AND USEFULNESS TO HUMANITY,STATE IT STRENGHT
Answers
To imagine a product that does not exist and that is useful to humanity, it is necessary to think about the greatest needs and challenges facing humanity today.
Let's suppose that we have developed a prototype of a chemical capable of transforming seawater into fresh water for human consumption.
The product would be a chemical solution sold in pharmacies in a controlled manner and through compliance with requirements for individuals, at a popular price, capable of making 10 liters of water potable for each bottle of the solution.
The product would work through water desalination technology through electrodialysis and reverse osmosis and could be useful to solve the problems of the lack of clean and potable water that already affects more than 2 billion people in the world.
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