If the price elasticity of demand is unit elastic, the change in price is exactly offset by the change in quantity.
The responsiveness of a change in quantity required in response to a specific percentage change in the price of the good is known as price elasticity of demand. It can be said in the following way:
Relatively Elastic Demand is considered to be relatively elastic when the percentage change in demand outweighs the percentage change in price. For instance, if a commodity's price drops by 10% but its demand increases by 20%, the commodity's demand is said to be relatively elastic. Price elasticity will have a number greater than one.
If the price elasticity of demand is unit elastic, the change in price is inelastic the change in quantity.
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Taxpayers who are blind get the benefit of:________
a. two standard deductions.
b. an additional amount added to their standard deduction.
c. an extra exemption.
d. none of these choices are correct.
Blind taxpayers benefit from: Increasing their standard deduction by a certain amount.
A taxpayer is anyone who owes taxes to the federal, state, or municipal governments, whether they are an individual or a corporation. Governments primarily obtain their funding through taxes, which are levied on both citizens and companies. Individual taxpayers in the US are often required to submit and pay both federal and state tax returns each year. Businesses must also submit yearly returns, although they often budget for and make scheduled anticipated tax payments all year long.
Localized taxes like sales taxes and property taxes are implemented and enforced by state and municipal revenue agencies.
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All competitive advantages do not accrue to large-sized firms. a major advantage of smaller firms is that they:______.
Not all competitive benefits go to large-sized businesses. Smaller businesses have a lot to gain from this can start rivalry-related activities more rapidly.
A company's ability to produce goods or services faster, more efficiently, or for less money than its competitors is known as a competitive edge. These elements enable the producing unit to outperform its competitors in terms of sales or margins.
Success in business depends on having a competitive edge over your rivals because: It can result in larger profit margins. It might encourage attracting more clients more frequently. It promotes continued brand loyalty.
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The economic value of resources not utilized to produce products or provide services is known as:_________
The correct answer is wealth.
Wealth is the accumulation of valuable economic resources, which may be measured in terms of tangible goods or monetary value.
What is the Wealth Effect?According to the wealth effect, a behavioral economic hypothesis, people spend more money as the value of their possessions increases. Consumers are supposed to feel more financially secure and wealthy as the value of their houses or investment portfolios rises.
What significance does riches have?Wealth gives you the confidence that you won't have to put in countless hours of work in order to live a happy, healthy, and successful life, in addition to giving you access to the world's boundless delights. It allows you to have time and financial flexibility.
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A payday loan company charges 8.50 percent interest for a two-week period. what is the annual interest rate?
The annual interest rate is 2.21 or 221%
Given here, 8.50 percent interest for a two-week period.
On assuming there is total 52 weeks in a year then, the number of period per year is equals = Total no. of weeks / Interest for a week period.
No. of period per year = 26
Rate per period = 8.5% or 85/100 = 0.085
We know that, Annual percent rate = Rate per period × Number of period per year.
= 0.085×26
= 2.21 or 221%
Thus, the annual percent rate is calculated as 2.21%
The interest rate that is applied throughout a year is referred to as the annual interest rate. Interest rates may be imposed monthly, quarterly, or biannually, among other time frames. However, interest rates are annualised.
The degree of risk attached to the borrower directly relates to interest rates. In order to make up for the damage that use has done to the asset, interest is levied. Instead of making a loan or lending money, the lender could have invested the funds in another project.
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What are the effects on the accounting equation from an adjusting entry for revenues earned, but not yet collected, during the accounting period?
According to the Situation, Following Effect will Occur.
Total assets will decrease and total Stockholders' equity will decrease.Total assets
Total assets refers to all of a small business's assets, or valuable possessions. Cash, accounts receivable (money owed to you), inventory, equipment, tools, etc. are all included in total assets.Stockholders' equity
Equity held by shareholders refers to the sum that a company's founders have contributed to the enterprise. This covers the funds they have personally invested as well as the total amount of profits the business has generated and reinvested since its establishment.To Learn more about Assets and Equity, Click the links.
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Both bananas and apples cost $1/each. paul is deciding how many apples and bananas to purchase for $100. after careful deliberation, he decides to buy 100 apples and 0 bananas. this is an example of:_________
An illustration of a corner solution is this.
When one of the inputs in the maximized function has a quantity of zero, the agent maximization problem has a corner solution that is a distinct solution. It is a concept of Consumer Theory. A corner solution, to put it simply, is when the decision-maker is unable or unwilling to trade off between numerous possibilities. In a corner solution, none of the items are included in the optimum package. constraints on consumer choice. If there is an inside solution, the indifference curve corresponds to the budget constraint at the best bundle.
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According to "scientific view of risk", most of the public’s view of risk is ___________ than risk experts.
According to "scientific view of risk", most of the public’s view of risk is differing than risk experts.
What is risk?Risk refers to the situation of uncertainty that can cause harm or danger to the business or life of the person. It has the general focus over the bad happening.
"Scientific view of risk" is an approach that examines the literature on risk and risk management from a scientific perspective, which is a prominent and important viewpoint in many academic areas.
Therefore, it can be concluded that there is a difference in the view point of the public and risk professionals.
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A man deposits $ 72,400 into a bank, which pays 12% interest that is compounded quarterly. What will he have in his account at the end of five years?
The amount he will have in his account at the end of five years is $130,762.45
What is the value of the amount he would have in 5 years?
The amount he would have in the account at the end of 5 years is the future value of the initial deposit of $72,400, in other words, the initial deposit plus the interest on principal and interest on earlier interest earned over the period of 5 years, which can be computed using the future value formula shown below:
FV=PV*(1+r/m)^(m*n)
FV=accumulated balance after 5 years=unknown
PV=initial deposit=$ 72,400
r/m=quarterly interest rate=12%/4=0.03
m=number of quarterly periods in a year=4
n=number of years that the deposit would last=5
m*n=4*5=20
FV=$72,400*(1+0.03)^20
FV=$130,762.45
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The flow rate for a process should be greater than the demand rate. True or false
The statement is False because, the flow rate must not be higher than the demand rate. 26. The process is confined if the capacity is 100 units per hour and the consumers' demand is 80 units per hour.
What is Flow Unit?
The flow rate or throughput, inventory, and flow time are the three most crucial performance indicators of a business process. The phrase "flow unit" will be utilized frequently in the definitions that follow. The fundamental analytical unit in any given situation is a flow unit (customer, sandwich, phone call etc.).
Flow time, also known as total processing time, is the amount of time a flow unit invests in a business process from start to finish. The flow time is equal to the length of the longest path if there are many paths through the process.
The number of flow units—such as clients, cash, or goods or services produced—that pass through the business process in a given amount of time, such as the number of clients serviced per hour or the number of components manufactured per minute. The flow rate is typically average.
Inventory is the total number of flow units that a business operation is currently handling, such as the total number of customers in a store or students enrolled in a university.
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as part of a plan to emphasize a dynamic corporate culture at the gagnier and morris advertising company, kiran has done away with traditional cubicles and replaced them with open-area "hot desks."
Hot desks create a non territorial environment
Areas that aren't designated to certain persons are called "hot desks." Instead, when each individual need one, they each take a desk. Hot desks foster a collaborative, nonterritorial workplace that stresses change. However, because the hot desks are concentrated in one area, such a workspace is hardly an illustration of globalization. Additionally, nonterritorial offices do not require a diversified staff. Nonterritorial offices are a type of workplace where every person is free to choose where they wish to sit, depending on their requirements at the time and the task at hand. They can pick a location with more people in a "hot desk" or open space if the task requires it, or they can find a spot that is quieter.
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When a company's receivables are used as security for a loan, the company is said to have _____ its receivables. multiple choice question. sold pledged secured factored
When a company's receivables are used as security for a loan, the company is said to have pledged its receivables.
Accounts receivable pledging occurs only when any business uses its accounts receivable asset as collateral on any loan, generally a line of credit.
When accounts receivables are used in this given manner, the lender only limits the amount of the loan to either:
70% to 80% of the total amount of outstanding accounts receivable or
a percentage of the accounts receivable which declines based on the age of the receivables.
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What is the difference between an appreciating asset and a depreciating asset? give examples of both.
The assets that appreciate in value over time are those. Growing one's wealth may be mostly attributed to financial investments in or ownership of appreciating assets. Contrarily, depreciating assets are those that lose value over time and as they are used.
What are assets?A resource having economic worth that a person, business, or nation possesses or controls with the hope that it would someday be useful is referred to as an asset. Assets are reported on a company's balance sheet. They are divided into four categories: tangible, financial, fixed, and current. They are acquired or produced in order to raise a company's worth or improve the operations of the company. Whether it's manufacturing equipment or a patent, an asset may be viewed of as anything that, in the future, can create cash flow, lower expenditures, or increase sales.
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When addressing business direction questions for your project, it is unlikely you should make the decision. Instead you should?
When addressing business direction questions for your project, it is unlikely you should make the decision. Instead, you should consult with stakeholders, conduct a meeting and evaluate all available options. Thus option D all of the answers are correct.
What is Business?An economic activity that involves the exchange of goods and services with teh help of buying and selling with the objective to gain some profit is called Business.
Decision-making in any business plays a crucial role in its success. So before taking any decsion which is collectively disturbing the organization. It is important to review all available options to take better decisions.
Meeting with stakeholders of the business and discussing their loss gains will be helpful to determine the options and consult with them. Apart from this, an options paper is created to see the best alternative to the particular situation.
Therefore, in option D all of the answers are appropriate.
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The complete question is
When addressing business direction questions for your project, it is unlikely you should make the decision. Instead you should _____.
Select an answer:
meet with the stakeholders who have the most to gain or lose with each potential direction and explain the options
call a meeting and review the options
create an options paper
all of these answers
Suppose the value of income elasticity of demand for a private college education is equal to 1.5. this means that?
Answer:
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suppose the value of income elasticity of demand for a private collage education is equal to 1.5 this means that a. every 1$ increase in income provides an incentive for a $1.50 increase in expenditures on private college education. b. every $1.50 increase in income provides an incentive for a $1 increase in expenditures on private college education. c. a 10% increase in income causes a 15% increase in the quantity of private college education purchased d. a 15% increase in income causes a 10% increase in the quantity of private college education purchased e. a 10% decrease in private college tuition will have a large enough income effect to increase spending on private college education by 15%
The primary focus of financial accounting information is to provide useful information for users to make:__________
The primary focus of financial accounting information is to provide useful information for users to make appropriate decisions.
How do you define financial accounting?The process of recording, compiling, and reporting the numerous transactions occurring from corporate operations throughout time is known as financial accounting. It is a particular branch of accounting.
Financial accounting is the process of documenting, compiling, and disclosing a company's financial activities. The income statement, balance sheet, cash flow statement, and statement of retained earnings are these statements.
The preparation of financial reports for external audiences like investors, creditors, and tax authorities to learn more about a company's performance is the primary goal of financial accounting.
Financial accounting gives specialists the opportunity to play a significant part in keeping businesses complying with the law, luring investors, and assisting leaders in making objective judgments about future plans.
Therefore, focus of financial accounting information is to provide useful information for users who are external to the business enterprise to make decisions.
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N addition to industrial and reseller markets, organizational markets include ________ ones.
Answer: government
Explanation:Organizational buyers include all buyers except ultimate consumers.
At the start of the month, a company reported a $34,000 debit balance in its cash account. During the month, the company debited cash for $30,000 and credits cash for $42,000. At the end of the month, the cash account has a.
At the start of the month, a company reported a $34,000 debit balance in its cash account. During the month, the company debited cash for $30,000 and credits cash for $42,000. At the end of the month, the cash account has a. 22,000 debit.
Ending cash balance = beginning cash balance + cash receipts occurring during the period - cash payments occurring during the period so 34,000 + 30,000 - 42,000 = 22,000).
When a corporation receives money earlier from earning it, the accounting may be a debit to the asset Cash for the quantity received and a credit to the liability account like Customer Advances or Unearned Revenues. samples of these accounts are the cash, assets, prepaid expenses, fixed assets (asset) account, wages (expense) and loss on sale of assets (loss) account.
Since the service was performed at the identical time because the cash was received, the revenue account Service Revenues is credited, thus increasing its account balance. Cash is an asset account hence it's increased by debiting it.
When a business receives cash, it's always recorded as a rise to cash and a decrease to an expense. a shot balance may balance but not be correct. Income statements accounts also are referred to as temporary accounts.
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Given a double variable called average, write an expression that is true if and only if the variable's value is less than 60.0.
Average 60 is an expression that is true if and only if the value of the given double average variable is less than 60.0.
The variable cost per unit is referred to as the average variable cost in economics. By dividing the overall variable cost by the output, one may calculate the average variable cost. The enterprises use the average variable cost to decide when to halt short-term manufacturing.
What's the average variable cost calculation formula?
To find the average variable cost, divide the total variable cost (VC) by the output (Q). In light of this, we can now define the short-run average variable cost in another way. AVC is equivalent to ATC less AFC.
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Implementing the strategy is often overlooked by senior managers especially in large organizations. What level of manager is often responsible for making sure the strategy gets implemented in alignment with the corporate goals?.
Implementing the strategy is often overlooked by senior managers especially in large organizations. functional manager is often responsible for making sure the strategy gets implemented in alignment with the corporate goals.
What is a functional manager?
The functional manager is the individual with management authority within a business unit or department who has direct supervision over one or more team members and/or direct responsibility for the functions impacted by the project/program deliverable (s). At the management level, functional managers hold positions that are intermediate. They connect upper-level managers with lower-level managers, such as supervisors and foremen, in the chain of command. The general manager holds a more senior position in contrast. They could be in charge of numerous divisions, including marketing and operations.
Therefore,
Implementing the strategy is often overlooked by senior managers especially in large organizations. functional manager is often responsible for making sure the strategy gets implemented in alignment with the corporate goals.
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Whenever jena's juice introduces a new flavor, the company donates five cents for each unit sold to fund breast cancer research. jena's juice is responding to what contemporary management challenge?
Whenever Jena's Juice introduces a new flavor, the company donates five cents for each unit sold to fund breast cancer research. Jena's Juice is responding to social responsibility
What is social responsibility?A person has a moral obligation to work and collaborate with other people and organizations for the good of the community that will inherit the world they leave behind. This is known as social responsibility. Corporate social responsibility (CSR), also referred to as social responsibility in business, is the practice of individuals and organizations acting morally and conducting business while being mindful of social, cultural, economic, and environmental concerns. working for the community by volunteering, donating blood, or staffing an animal shelter or food bank. promoting political or social causes that can benefit others, such as buying fair trade goods, recycling, or supporting concerns that have an impact on society.
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Describe how hrd is linked to the overall goals and strategies of an organization
Raising standards and productivity, helping firms adapt to change, boosting employee morale and cutting absenteeism, improving the quality of working life, and building a learning culture are just a few benefits of HRD.
Why is HRD essential to achieving company goals?
Because it is an investment in one's employees that will ultimately result in a stronger and more productive workforce, human resources development is important. By supporting employee development, a business strengthens its resources and raises the value of its workforce.
Strategic human resource management is the process of integrating human resources with strategic goals and objectives in order to improve organizational performance and foster an environment that fosters innovation, adaptability, and competitive advantage.
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The decision to go to graduate school is a rational one for a college student if the?
The decision to go to graduate school is a rational one for a college student if the marginal benefit of graduate school exceeds the marginal cost.
What is marginal cost?
The additional costs spent by manufacturing more units of an item or service are known as marginal costs. Marginal-cost pricing, in economics, is the practise of setting the price of a product to equal the additional cost of producing an additional unit of output. It is calculated by taking the total change in the cost of producing more goods and dividing that by the change in the number of goods produced. This policy limits the producer's ability to charge for each unit of a product sold to the addition to total cost attributable to materials and direct labour.
Therefore,
The decision to go to graduate school is a rational one for a college student if the marginal benefit of graduate school exceeds the marginal cost.
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In most cow/calf operations, ____ is the first limiting nutrient and often must be supplemented
In most cow/calf operations, Protein is the first limiting nutrient and often must be supplemented.
How important is protein in cow operations?In cow/calf operations, it has been observed that proteins are the first limiting nutrient that are available in the forage diets of cows.
As a result, this makes protein very important to cow/calf operations. This is why it must be supplemented in diet especially when the amount of forage available is significant.
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The organization of a medium that clarifies or reveals a subject matter is described as?
the arrangement of a media that illuminates or exposes a subject aesthetic form.
Organization
A group of individuals active in pursuing specific goals is referred to as an organization. All formal human ties make up its social structure, which can be understood. Workload allocation among employees and task alignment with regard to the organization's main objective are both aspects of the organization.
It can also be considered to as the second-most significant managerial task because it involves coordinating employee efforts, acquiring resources, and combining the two in order to achieve the objectives of the organization.
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What are the reasons that explain why international firms would enter foreign markets?
There are list of reasons that international firms would enter foreign markets or global market.
Expanding the business internationally offers many benefits. Businesses that are preparing for the potential international expansion should actively take the time to explore which are the list of benefits they are aiming to achieve. Lower the Competition In Growing Markets. Improve your margins. Going global gives businesses access to the new talent pools and new technology. These may help bring down production or the operational costs, allowing companies to improve their profit margins. Having a unique opportunity. As expending their business they will get into the foreign market and explore many segments of the society. Respond to demand as they will receive more demand of the product they produce. They will have name internationally. These are the reasons why to enter foreign markets.
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andre works with beta pharmaceuticals inc. he is primarily responsible for overseeing production activities, including decisions such as the number of product units that need to be manufactured, the overall functioning of the production plants, and the quality of products. andre is most likely to be a(n) manager.
andre is most likely to be an operations manager
A career as an operations manager is a perfect fit for those who enjoy working in the background of a business. No matter how big or small the company, this job is crucial to its success, and you would have the opportunity to work in practically any sector. An operations manager's primary responsibility is to oversee the processes that go into creating a company's products and/or services. An operations manager, for instance, would oversee all activities connected to regular store floor operations as well as planning and strategizing in the retail sector. The world of company operations offers several options.
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Dairy products, inc., and eden farms corporation form a joint venture to make and test-market frosty ice cream. A joint venture is usually formed for?
A joint venture is usually formed for a single transaction or project
What is a joint venture?The term "joint venture" (abbreviated "JV") refers to a corporate company formed by two or more partners that are typically distinguished by shared ownership, rewards and risks, and governance. Companies frequently enter into joint ventures for one of four reasons: to obtain access to a new market, especially an emerging market; to achieve scale efficiencies by integrating assets and operations; to share risk for significant investments or projects; or to gain access to talents and capabilities. The argument that joint ventures lessen downside risk was refuted in research by Reuer and Leiblein.
However, certain joint ventures, including those in the oil and gas sector, are "unincorporated" joint ventures that mimic a corporate organization. When two or more people work together temporarily to create a partnership for the purpose of carrying out a specific project, that partnership may also be referred to as a joint venture, with the parties involved being referred to as "co-venturers."
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Sam's big bites, an american chain of burger stands, operates on all military bases in the united states. the agreement between sam's big bites and the department of defense is a(n)_________.
A strategic alliance has been formed between Sam's Big Bites and the Department of Defense.
What is a strategic alliance?
Alliances and partnerships are a crucial component of business strategies for both large and small firms. Although many alliances start out with lofty goals and ambitions, not all of them end up being strategic.
An agreement between two or more parties to achieve a list of necessary agreed-upon objectives while maintaining autonomous organizations is known as a strategic alliance (sometimes called a strategic partnership).
The alliance is a cooperative or synergistic effort in which each member anticipates that the benefits of the alliance will outweigh the results of their separate efforts. Technology transfer (access to knowledge and skills), economic specialization, and alliances are frequently involved.
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If a seller carries back $12,000 at 10 percent interest and closes on july 9 with the first loan payment due september 1, the interest on the new loan on the settlement worksheet will be:_____.
If a seller carries back $12,000 at 10 percent interest and closes on july 9 with the first loan payment due september 1, the interest on the new loan on the settlement worksheet will be $75.62 Debit Buyer & Credit Seller.
What is interest?In the fields of finance and economics, interest is the payment made at a set rate by a borrower or deposit-taking financial institution to a lender or depositor in excess of the principal amount. It differs from a fee the borrower might pay the lender or another entity.The three different kinds of interest are simple (regular), accumulated, and compound. When money is borrowed, typically in the form of a loan, the borrower is obligated to pay the agreed-upon interest rate. The $20 you made on your savings account this year is an example of interest.Learn more about interest here:
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What is the slope of the budget line from trading with friday (coconuts for fish)?
The slope of the budget line for trading with Friday is -0.5 since he must forfeit 2 fish for every unit of coconut. The slope of the budget line for trading with Kwame is -0.3 since he must forfeit 3 fish for every unit of coconut.
A budget line displays the combinations of two products that a buyer may afford to purchase using their entire available budget and a given income.
Pricing line, price opportunity line, and consumption possibility curve are other names for the budget line. The budget line displays all possible product pairings that a buyer, given his financial situation and the cost of the two commodities, could buy.
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