zach's garage zach (once a musician) opens a garage where bands can perform and fans can enjoy the music (for free) as a community service. zach soon see the folly of his plan and now needs to find a price point that is affordable, but covers his costs of his performance space. this case asks the student to consider attendance levels and break-even price levels. case study
Answers
Zach's garage initially opened as a community service where bands could perform and fans could enjoy the music for free. However, Zach soon realized that this plan was not sustainable and he needed to find a price point that could cover his costs of the performance space.
To determine a price point, Zach needs to consider his attendance levels and break-even price levels. Zach should start by calculating his fixed and variable costs, including rent, utilities, equipment, and marketing expenses. Once Zach has determined his total costs, he can divide that by the number of attendees he expects to have to determine his break-even price.
Zach should also consider the price points of his competitors in the area and the demographics of his target audience. For example, if his target audience is college students, he may need to set a lower price point to make the concerts more affordable.
Once Zach has determined his break-even price, he can then adjust the price based on attendance levels. For example, if he expects a high attendance rate, he can set a higher price point to make a profit. On the other hand, if he expects a lower attendance rate, he may need to lower the price to attract more attendees.
Overall, Zach needs to find a balance between affordability and profitability to ensure the sustainability of his garage. By considering his costs, competition, and target audience, he can determine a price point that covers his expenses while still attracting fans and supporting local musicians.
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Related Questions
TRUE or FALSE
Buying stock in a company would be a good way for me to invest my weekly pay check.
Answers
Answer:
TRUE
Explanation:
In trading account freight belongs to which side debit or credit?
Answers
Answer:
Explanation:
In trading account, freight belongs to the debit side. It is a direct expenses on purchases and manufacturing operation
Freight is the cost incurred in transporting an item to its final destination when the terms are FOB shipping point. It is treated as part of the cost of merchandise and recorded in the inventory if the merchandise has not been sold.
Increase in the cost of freight are recorded on the debit side while decrease are recorded on the credit side.
Demand is not the same as quantity demanded. What factors will change the demand for a good?
Answers
Answer:
Other factors that shift demand curves. Income is not the only factor that causes a shift in demand. Other things that change demand include tastes and preferences, the composition or size of the population, the prices of related goods, and even expectations.
Pablo gets his dog’s hair cut every month. He pays $10 a cut, once a month. The salon is offering a new sale. The sale offers 1 cut per month, for 3 months for $25. Should Pablo get this new sale price?
Answers
Answer:
Yes , Pablo should get the new sale price
Explanation:
Before the new offer, Pablo spends a total of $30 for three months.
( $10 x 3 months).
With the new offer, It will cost Pablo $25 in hair cuts for three months.
The new price is cheaper by $5.
Pablo will save $5 with the new sale price.
An increase in the labor force raises steady-state per capita
GDP. True or false
Answers
The statement that says "An increase in the labor force raises steady-state per capita GDP" is False. What is steady-state per capita GDP? The term steady-state per capita GDP refers to the level of per capita GDP (gross domestic product) that an economy may maintain once it has reached its long-term growth pattern.
Steady-state per capita GDP is the highest possible per capita GDP level, which can be sustained indefinitely without leading to any consequences such as inflation or a decline in economic growth. A per capita GDP value is achieved by dividing a country's GDP by the number of individuals residing in it.
Per capita GDP provides a clearer image of the average income of a nation's citizens because it takes population size into account. The per capita GDP value, on the other hand, is determined by several factors, including the overall economic growth rate, labor force, productivity levels, and technology used by the economy.
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The discounted payback period Blank _____ account for the time value of money, and the payback period Blank
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The discounted payback period does account for the time value of money, and the payback period does not.
What is discounted payback period?
A method of capital budgeting used for determining a project's profitability is known as discounted payback period. This will be done by recognizing the time value of money and by discounting cash flows of the future.
The payback period is the amount of time it takes for an asset's net cash flows to pay back the amount invested in it. It's a quick and easy technique to assess the risk of a given project.
The advantage of this method is utilized in selecting the projects as this method helps to determine the profitability of any project by identifying measures to reach the break-even point in any project.
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Discuss the different approaches of ‘on the job’ used by a business
Answers
Answer:
Explanation:
There are several approaches to on-the-job training that businesses can use to train their employees. Here are some of the most common ones:
Job rotation: This training method involves moving the trainee from one job to another to gain knowledge and experience from different job assignments.
Coaching: Under this method, the trainee is placed under a particular supervisor who functions as a coach in training and provides feedback to the trainee.
Job instructions: This method involves providing step-by-step instructions on how to perform a particular task.
Committee assignments: This method involves assigning the trainee to a committee or task force where they can learn from other employees.
Internship training: This method involves hiring interns who work for a short period of time and receive on-the-job training .
In addition to these methods, businesses can also use job enrichment, job enlargement, job simplification, and job rotation as approaches to design or redesign a job .
I hope this helps!
View filters may be applied retroactively to any data that has been processed.
Answers
View filters van be applied retroactively to processed data. Therefore, it's true.
What is data?It should be noted that data simply means the facts and statistics that are collected together for reference or future analysis.
In this case, view filters may be applied retroactively to any data that has been processed.
In conclusion, it's true.
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Three roads lead into a stadium's parking areas. Each road has four lanes (two in each direction) with a capacity of 1,000 vehicles/lane/hour. If 10,000 vehicles are expected for a game, how long will it take for all of them to enter the parking areas?
Answers
Answer:
Option A
Explanation:
The complete question is
Three roads lead into a stadium's parking areas. Each road has four lanes (two in each direction) with a capacity of 1,000 vehicles/lane/hour. If 10,000 vehicles are expected for a game, how long will it take for all of them to enter the parking areas?
a) 2 hours
b) 1 hour
c) 1 hour and 40 minutes
d) 90 minutes
Solution
There are four lanes.
Capacity of one lane is equal to 1,000 vehicles/lane/hour.
Let us say that each lane will provide access to equal number of vehicles
Thus, each lane will allow 10,000/4 = 2500 vehicles per hour
Time taken by 2500 vehicles on road to reach parking is equal to 2.5 hours.
The nearest answer to this option A i.e two hours
If your income varies, you should
a. list the highest amount.
b. list the average amount.
C.
list the lowest amount.
none of the above.
d.
Answers
Answer:
B. list the average amount.
Explanation:
An average value is the estimated value between/among two or more varying values. It helps to give an idea of an expected value.
In the case of varying income, the average amount is required to be listed. This would ensure that appropriate compensation is made with respect to the lowest amount. This can be determined by adding the highest amount to the lowest amount, and divide the result by 2.
Therefore, option B is more appropriate.
imagine you are a marketing manager at dell computer and tasked with using the bcg portfolio analysis to classify various product lines. if dell has a low level of market share for its tablet line of products designed for students or recreational users and that sector of the marketplace is experiencing a high level of growth, dell's line of tablets would be classified as a .
Answers
The Dell's line of tablets would be classified as a" Question Mark" in the BCG portfolio analysis.If Dell has a low position of request share for its tablet line of products designed for scholars or recreational users.
This is because it has a low request share in a high- growth request. Question marks are product lines that bear a lot of investment to grow request share and come request leaders. In this case, the high growth of the request presents an occasion for Dell to increase its request share and potentially turn the product into a star.
This will bear a significant investment in marketing and product development. The outgrowth of this investment will determine whether the product line becomes a star, a cash cow, or a canine in the future. Understanding the request and the eventuality for growth is important for making informed investment opinions.
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A new business has total sales of $14,000, applied $1,350 in merchandise discounts, and had returns of $234. Calculate the business's total net sales.
Answers
Answer:
$12,416
Explanation:
Applied merchandise discounts mean discounts issued.
The net sales will be total sales minus merchandise discounts applied minus returns.
Net sales = total sales - ( discounts + returns)
Net sales = $14,000 - ( $1,350 + $234)
Net sales = $14,000 - $1,584
Net sales = $12,416
Your firm spends $5000 every month on printing and mailing costs, sending statements to customers. If the interest rate is 0. 5% per month, what is the present value of eliminating this cost by sending the statements electronically
Answers
The present value for cutting this expense is 58,094.66 according to the solution.
What do you call the present value?The term "present value," also known as "discounted value," refers to a financial calculation that determines how much a sum of money or stream of payments worth in future dollars today after accounting for interest and inflation. In other words, it contrasts the current value of one dollar with its purchasing power in the future.
According to the given information:Since the query doesn't define a time frame, we'll presume it's 12 months or a year. Next, we use the basic annuity formula, which is shown below.
PV = PMT * (1 - (1 + i)⁻ⁿ)/I
PV = 5000 * (1 - (1 + 0.5%)⁻¹²)/0.5
= 58,094.66
For the following year, the PV of reducing this expense is 58,094.66. This is the PV of the cost savings realised by sending statements electronically over the course of the year.
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Ms. Levebre is the president of a company that makes office supplies. She wants to sell office supplies to the federal government. Where can she find the rules and procedures for doing this?
Federal Register of Rules and Bylaws
Government Purchasing Rules
Federal Acquisition Regulations
U.S. Government Purchasing Rights
Answers
Answer:
Federal Acquisition Regulations
Explanation:
Ms. Levebre can find the rules and procedures for selling office supplies to the federal government in the Federal Acquisition Regulations (FAR). The FAR is a set of standardized guidelines that outline the process for acquiring goods and services from private businesses by the federal government. It provides information on the process for submitting bids, negotiating contracts, and fulfilling orders, as well as other important details related to doing business with the federal government.
Henry recently set up a retail store in his hometown. He studied the pattern that other storeowners followed in obtaining new customers. All their current customers had referred the store to their friends and family. Their awareness basically spread through word-of-mouth. Henry knew that his store offered the same quality as the other stores did. His store was also on the same street as the other retail stores. Given the setting, the other storeowners were already charging their customers the bare minimum in order to remain competitive. Which P of marketing should Henry concentrate on to distinguish his retail store?
Answers
Answer :
Promotion is the P of marketing Henry may focus on to differentiate his retail shop.
Explanation :
In marketing, there are seven (7) P's that make up the marketing mix. The four (4) most important P's in the marketing mix are P-product, P-price, and P-place. P-promotion According to the text, Henry cannot utilize the first P, which stands for product, because he is aware that his store offers the same quality as the others.
Henry can't utilize the second P, Price, as a marketing technique since he knows that other business owners are already charging the bare minimum to stay competitive. Henry can't utilize the third P, which stands for Place, because his business is on the same street as the other retail stores, and he can't improve on that. Henry's lone marketing tool for beating the competition is the fourth P, which stands for Promotion.
This is because word-of-mouth knowledge established by other business owners is insufficient to create widespread awareness; word-of-mouth can only reach friends and relatives. As a result, the P in marketing that Henry may use is Promotion. He may achieve this by creating global awareness through advertisements on television, radio, social media, printing handbills, and sales promotions such as lottery draws, festive sales, clearance discounts, and offering consumers bonuses such as the buy three, get one free promotion.
On January 1, 2017, the dental partnership of Angela, Diaz, and Krause was formed when the partners contributed $39,000, $67,000, and $69,000, respectively. Over the next three years, the business reported net income and (loss) as follows: 2017 $ 79,000 2018 51,000 2019 (34,000 ) During this period, each partner withdrew cash of $15,000 per year. Krause invested an additional $6,000 in cash on February 9, 2018. At the time that the partnership was created, the three partners agreed to allocate all profits and losses according to a specified plan written as follows: Each partner is entitled to interest computed at the rate of 10 percent per year based on the individual capital balances at the beginning of that year. Because of prior work experience, Angela is entitled to
Answers
How many publications are related to green nanoparticles?
Answers
Answer:
If you mean nanoparticles for environmental applications then let's see…
2018, more than 166,000 articles related to nanotechnology were published, indicating an increase of more than 7% compared to the corresponding period last year.
No specific category for the environment is disclosed. However, I would say at least 3/4 are related to climate change or environmental
What Resident Evil games do you guys love and what monster or boss is your favourite inside that game.
a. Resident Evil 1
b. Resident Evil 2
c. Resident Evil 3
d. Resident Evil 4
e. Resident Evil 5
f. Resident Evil Revelations
g. Resident Evil Revelations 2
h. Resident Evil 0
i. Resident Evil 7
j. Resident Evil 1 REmastered
k. Resident Evil 2 REmake
l. Resident Evil 3 REmake
Answers
Answer:
i-
totally business studies
Explanation:
no comment
Answer:
b. Resident Evil 2
Explanation:
Mr X (Tyrant) is my favorite boss in RE2:)
Which person has the lowest taxable income
Person A:earns 50,000 per year with 5,000 deductions
Person B: earns 60,000 per year with 10,000 deductions
Person C : earns 90,000 per year with 30,000 deductions
Person D : earns 100,000 per year with 60,000 deductions
Answers
Taxable income refers to the amount of income remaining as a tax base for a period of time after all allowable deductions have been spent on total revenue. Person D has the lowest taxable income here.
What is Taxable Income?Income that is subject to taxation and is reflected in the accumulation of a particular benefit or benefit to the taxpayer in particular.
The income on which the Government imposes a tax is called as taxable income.
Here, Person D income is 100,000 and deductions are 60,000. so now, to calculate the taxable income, we have to deduct 60,000 from 100,000 that is 40,000 will be his taxable income.
Thus, Person D has the lowest taxable income.
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Project: How Entrepreneurs Improve the Economy
This project will focus on researching different ways that entrepreneurs improve the economy. You will then explore these ways and
explain whether you agree or disagree with how each can improve the economy.
During this project, you'll accomplish the following:
O Objectives
• Research at least five ways that entrepreneurs improve the economy and explain whether you agree or disagree with each.
Directions
Use the Internet to research different ways that entrepreneurs improve the economy. You will need to have at least five ways. Be sure
to include the URL links you used as resources in the space below.
Now that you have completed the research, record your findings in the table below and include the links,
1 Fillin five ways that entrepreneurs improve the economy
Answers
Answer:
time management
make best decision
saving the budget
having ideas
never relaxed
What is meant by producer product?
Answers
Producer products also referred to as intermediate goods in economics, are manufactured goods used in further production, processing, or resale.
What is a producer product?In economics, producer products—also known as intermediate goods—are manufactured goods that are utilized in subsequent manufacturing, processing, or resale.
In the manufacturing process, producer items can merge with end products or lose their unique characteristics.
Producer goods are products that a business uses to make more of its own products.
An office building, factory, or warehouse are all examples of producer goods.
Producer goods are the different things that producers utilize in their manufacturing processes.
They consist of raw materials, semi-finished commodities, and capital items (such as machinery, parts, and equipment).
Therefore, producer products also referred to as intermediate goods in economics, are manufactured goods used in further production, processing, or resale.
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entperise opportunities
Answers
Explanation:
A business opportunity (or bizopp) involves sale or lease of any product, service, equipment, etc. ... The licensor or seller of a business opportunity usually declares that it will secure or assist the buyer in finding a suitable location or provide the product to the purchaser-licensee.
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Which one is the best choice. Please explain why. I’ll give extra points.
Answers
Answer:
10
Explanation:
Surplus for Donovan: 10 - 4.50 = 5.50
Surplus for Rudy: 8 - 4.50 = 3.50
Surplus for Mike: 6 - 4.50 = 1.50
Surplus for Royce: 4 - 4.50 = -0.50
Sum of all surpluses: 5.50+3.50+1.50-0.50=10
Which of the following is involved in a competitive firm's short-run production decision?
A) Deciding whether to build an additional factory or not.
B) Choosing a rate of output using the existing plant and equipment.
C) Changing the scale of operations.
D) Deciding what price to charge for its product.
Answers
n the short-run, a competitive firm cannot change its plant and equipment, so options A and C are not applicable. Option D is also not correct because a competitive firm is a price taker, meaning it has to accept the market price for its product. Therefore, the only decision a competitive firm can make in the short-run is to choose the optimal rate of output based on its marginal cost and revenue.
In a competitive firm's short-run production decision, the focus is on adjusting output levels using their current resources rather than expanding or changing the scale of operations.
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Collusion occurs when companies agree to drop prices and increase production.
True
or
False
Answers
Please help with all 3 bullet points
You have been invited to speak to a group of Managers at Paychex about increasing the business’s commitment to improved employee health benefits by increasing the opportunity to work remotely.
How will you appeal to their pathos?
How will you appeal to their ethos?
How will you appeal to their logos?
Answers
To appeal to the managers' pathos, I would emphasize the positive impact of remote work on employees' well-being, work-life balance and overall happiness.
How can remote work benefit employees' well-being and happiness?As managers, we must recognize the profound influence of employee well-being on their productivity and loyalty. By increasing the opportunity of work remotely, we offer employees a better work-life balance and flexibility.
This lead to reduced stress levels, increased job satisfaction and improved mental health. Remote work allows employees to save commuting time, spend more quality time with their families and achieve a greater sense of control over their lives.
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An older female customer, in the lowest tax bracket, wants an investment that will provide asset growth for retirement. The best recommendation would be:a. emerging markets fundb. single stockc. municipal bondd. index fund
Answers
The best recommendation for an older female customer in the lowest tax bracket seeking asset growth for retirement would be d. index fund. This option offers diversification, lower fees, and a historical track record of steady growth, making it a suitable choice for her investment needs.
The best recommendation for an older female customer in the lowest tax bracket who wants an investment that will provide asset growth for retirement would be an index fund. This is because index funds have low fees, are diversified, and historically have provided consistent returns over the long term. Additionally, as the customer is in the lowest tax bracket, a municipal bond may not provide the same level of return as an index fund. A single stock and an emerging markets fund may be too risky for a retirement investment strategy.
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Company has a material standardet pound per una of output Fach pound has a standard price of $25 per pound. During Muty Com paid $14.000 for soto pounds, which is used to product 4730 unitsWhat is the price variance?
Answers
The price variance is -$104,250. Since the actual price paid is lower than the standard price per pound, we have an unfavorable or negative price variance.
To calculate the price variance, we need to compare the actual price paid per pound of material with the standard price per pound.
Standard price per pound = $25
Actual price paid = $14,000
Actual pounds purchased = 4,730
First, we calculate the standard cost of the pounds purchased:
Standard cost = Standard price per pound * Actual pounds purchased
Standard cost = $25/pound * 4,730 pounds
Standard cost = $118,250
Next, we calculate the price variance:
Price variance = Actual cost - Standard cost
Price variance = Actual price paid - (Standard price per pound * Actual pounds purchased)
Price variance = $14,000 - ($25/pound * 4,730 pounds)
Price variance = $14,000 - $118,250
Price variance = -$104,250
The price variance is -$104,250. Since the actual price paid is lower than the standard price per pound, we have an unfavorable or negative price variance. This indicates that the company paid less than expected for the materials, resulting in potential cost savings.
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ATP is a vehicle manufacturing company which purchases most of the component from suppliers all around the globe. To minimize inventory costs, management decided to use Economic Order Quantity to control its inventory level. KWP is ATP’s long-term supplier for tire, and they have agreed to strict delivery time and quality requirement. Based on the 202X budget, the following information was collected from production:1. Based on pre-order, ATP requires 5250 units of tire each month for the first 4 months of the year and 3625 units of tires each month for the remainder of the year. 2. The carrying cost per unit is R2 per year. 3. The cost per order is R1,000.
Answers
Economic Order Quantity is 7071 units to control its inventory level. The following variables are necessary to determine the economic order quantity: demand rate, setup costs, and holding costs.
What are EOQ and its formula?The following is the EOQ formula. EOQ equals the square root of [(2 times demand times ordering cost)/carrying charge]. Demand. The EOQ's assumptions state that the demand is unchanged. The measure of demand is how much inventory is used annually or how many units are sold annually.
Given,
Annual Requirement = 50,000 ( 5250 x 4 + 3625 x 8)
Carrying cost = 2 per year
Order cost = 1000 per order
Required to calculate EOQ =?
EOQ = square root of [(2 times demand times ordering cost)/carrying charge]
EOQ = √ 2 x 50000 x 1000/2
EOQ = √50,000,000
EOQ = 7071 units
Thus, the EOQ is 7071 units. Economic order quantity is crucial since it aids businesses in effectively managing their inventories. Without these inventory management strategies, businesses will frequently store excess inventory during times of low demand while holding insufficient inventory during times of strong demand. Missed opportunities result from either issue.
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True or false: In the United States, sole proprietorships and partnerships outnumber corporations. True false question. True False
Answers
Answer:
True
Explanation:
Today there are more proprietorships and partnerships then there are corporations.
In the United States, sole proprietorships and partnerships outnumber corporations. The given statement is true. Hence, Option A is correct.
What is a proprietorship?Proprietorship or sole proprietorship is the state where an individual is having the whole sole authority or right regarding any business. It is that situation, in which the person who is the owner has all the rights.
Here, the conversation for rights is regarding business rights, in which a person will take all the decisions that are being found compulsory and are in favor of the business and its growth.
The term which can be used in place of a sole proprietorship is sole tradership. It is a type of business entity that is run by a single person and some of the family members can also join it. But the owner will be retained in the name of a single person.
Thus, a sole proprietorships in the United States outnumbers corporations. Option A is correct.
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