The extra cost associated with undertaking some action is its marginal cost. (second option)
What is marginal cost?Marginal cost is the additional cost generated when output is increased by one unit. Marginal cost is derived by dividing the change in total cost by the change in total output.
For example, if the total cost of producing 10 units of a good is 100 and the total cost of producing 12 units is 120.
Marginal cost : change in total cost / change in output
Marginal cost : (120 - 100) / (12 - 10) = 10
Marginal cost and marginal benefit are used in managerial economics to analyse the economies of scale to optimize production and overall operations. Marginal benefit is the change in total benefit when output is increased by one unit.
Production is optimised if marginal cost is less or equal to marginal benefit. If this is not the case, production is not efficient and production should be reduced until efficiency is attained.
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The price consumers are willing to pay for a resource that may be limited depends on ________.
The price consumers are willing to pay for a resource that may be limited depends on their perceived need for the resource.
What is resource?
When we talk about resources, we're talking about all the items that are available to us that are environmentally friendly, economically viable, and culturally sustainable which help us meet our needs and desires.
Resources are often broadly categorized based on their availability into renewable and non-renewable resources. they will also be divided into real and potential categories depending on their level of development and use, biotic or abiotic origin, widespread or localized distribution, and actual or potential categories counting on their level of development and use.
With time and evolving technology, an object might become a resource. Increased wealth, the graceful operation of a system, or improved wellbeing are only some advantages of resource use.
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In the market for chocholate bars, the supply of chocgolate will increase if ______.
In the market for chocolate bars, the supply of chocolate will increase if we decrease in the price of a chocolate bar.
What Is Supply?A fundamental idea in economics is supply, which refers to the entire amount of a particular commodity or service that is offered to customers. Depending on how it is shown on a graph, supply may refer to the quantity offered at a certain price or the quantity offered throughout a range of prices. This is directly related to the demand for an item or service at a particular price; all things being equal, the supply offered by manufacturers will increase if the Prices increase because every company wants to maximize earnings.
The basis of the modern economy is supply and demand dynamics. Each particular commodity or service will have its own supply and demand trends depending on cost, utility, and personal preference.
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Fitzi chemical co. earns revenue from its cash receipts from royalties.
a. financing activity
b. operating activity
c. investing activity
Operating Activities.
These are the elements of a business straightforwardly connected with giving its products or potentially administrations to the market. These are the organization's center business exercises, like assembling, circulating, promoting, and selling an item or administration.
Also they are the everyday exercises of an organization engaged with creating and selling its item, producing incomes, as well as broad managerial and support exercises.
Revenue is the cash created from ordinary business tasks, determined as the normal deals cost times the number of units sold. It is the top-line figure from which expenses are deducted to decide the overall gain or otherwise called deals on the pay proclamation.
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There are numerous exceptions to the parol evidence rule, with perhaps the most common being when ________ evidence serves to clear up a(n) ________ part of an agreement.
The parol evidence rule has many exceptions, with possibly the most prevalent one being when oral evidence serves to clear up a(n) ambiguous part of an agreement.
More about the parol evidence rule:
The parol evidence rule is a principle of Anglo-American common law that controls the types of evidence that parties to a contract dispute may provide in an effort to ascertain the precise terms of the contract.
The parol evidence rule also prohibits parties who have reduced their agreement to a finalized written instrument from adding further evidence later on as proof of a different intent regarding the contract terms, such as the content of oral exchanges from earlier in the negotiation process.
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__________ is gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.
Survey research is gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.
A survey is a set of questions used in human subject research with the goal of gathering specific information from a certain population. Surveys can be carried out via the phone, by mail, online, at street corners, and even in shopping centres.What is a good illustration of survey research?Imagine, for instance, that a researcher wants to find out about teens' eating patterns. In that instance, to confirm the accuracy of the data gathered, he or she will observe a sample of youngsters for an extended period of time. A longitudinal study is frequently followed by cross-sectional survey research.To Learn more about survey research, Click the links.
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The main difference between macroeconomics and microeconomics is that macroeconomics _____, and microeconomics
The main difference between macroeconomics and microeconomics is that macroeconomics focuses on the aggregate economy, and microeconomics focuses on small components of that economy.
What is microeconomics and macroeconomics?Macroeconomics is a branch of economics that studies the aggregate economy. Macroeconomics studies economic aggregates such as inflation, unemployment, GDP and growth rate. A topic in macroeconomics could be the effect of inflation on the US economy.
Microeconomics is a branch of economics that studies the economic activities of economic agents in the economy. It studies the decision making process of firms and individuals in response to change in the economic variables.
Here is the complete question:
The main difference between macroeconomics and microeconomics is that:
a) macroeconomics looks at how individuals make choices, and microeconomics looks at the aggregate of those choices.
b) microeconomics largely deals with the fallacy of composition, and macroeconomics does not deal with the fallacy of composition.
c macroeconomics focuses on the aggregate economy, and microeconomics focuses on small components of that economy.
d) macroeconomics is concerned with economic policy, and microeconomics is concerned with international policies
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In the context of ascertaining a marketing research problem, the iceberg principle states that _____.
The iceberg concept suggests that when identifying a marketing research issue, managers are typically only aware of a small percentage of the true issue, which is typically merely a visible symptom of a larger underlying issue.
The iceberg principle is what?American author Ernest Hemingway popularized the iceberg theory, often known as the idea of omission, as a writing strategy. Hemingway had to limit his newspaper reporting as a rookie journalist to the most recent events, with little context or interpretation.
He continued to compose short stories in the same basic manner, emphasizing surface details without addressing underlying themes directly. Hemingway thought that a story's greater significance should emerge indirectly rather than immediately clear.
Content marketing and the Iceberg Principle
The core of content marketing is producing, disseminating, and distributing material for an internet audience. The target audience is chosen with care by the content marketer.
What is happening behind the scenes is just as crucial to content marketers as what the material is explicitly saying. Actually, what's happening underneath might be far more significant. The Iceberg Principle is extremely important in content marketing.
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An investor reading the financial statements of the fairbury corporation observes that the statements are accompanied by an unmodified auditors' report. from this, the investor may conclude that:_________
From this, the investor may conclude that disputes over significant accounting issues have been settled to the auditors' satisfaction.
What are foortnotes to the financial statement?Additional information that explains how a company arrived at its financial statement figures is referred to in the footnotes to the financial statements. Additionally, they aid in illuminating any anomalies or apparent contradictions in year-to-year accounting techniques. It serves as a supplement, offering clarification to those who need it without having the information included in the statement's body. However, the information found in the footnotes is frequently significant and may indicate hidden problems with a company's financial stability.
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If the economy is operating at point c, the opportunity cost of producing an additional 15 units of bacon is:________
If the economy is operating at point c, the opportunity cost of producing an additional 15 units of bacon is 20 units of eggs.
An economy is the area of production, distribution, trade, and consumption of goods and services. Generally, it is defined as a social domain emphasizing practices, discourses, and material expressions related to the production, use, and management of scarce resources.
A standard definition of economics might describe it as A social science focused on the satisfaction of needs and desires through the allocation of scarce resources with alternative uses. Going further, we can say that economics is the study of scarcity and choice. Economic problems affect our daily lives. These include topics such as taxes and inflation, interest rates and wealth, inequality and emerging markets, energy, and the environment.
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Yesterday, a u.s. dollar traded for .83 british pounds. today, the u.s. dollar trades for .95 british pounds. it is accurate to say?
Yes it is accurate to say that Yesterday, a u.s. dollar traded for .83 british pounds. today, the u.s. dollar trades for .95 british pounds because the British pound has depreciated in value relative to the U.S. dollar.
What is deprecation of value ?
Depreciation is the value reduction that happens as a result of the use or depreciation of an item. The value of an item once depreciation is taken into account is the item's total depreciated value. Through a mathematical formula, you will calculate this value by taking into account the item's original cost, its scrap value, and its anticipated lifespan.
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The benefit enjoyed by a third party that is not directly involved in the production or consumption of a good or service is?
An externality is the benefit enjoyed by a third party that is not directly involved in the production or consumption of a good or service.
Externalities can either be positive or negative;
Positive externalities occur when there is a positive gain on both the private level and social level.
Negative externalities occur when the social costs outweigh the private costs. For example in cases of pollution where an industry may decide to cut costs and increase profits by implementing new operations that are more harmful to the environment.
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Adjusting entries always include:________
a. only balance sheet accounts
b. the cash account
c. at least one income statement account and one balance sheet account
d. only income statement accounts
Adjusting entries always include c. at least one income statement account and one balance sheet account.
What is Adjusting entries?Adjusting entries can be described as those changes that is been made on the journal entries that have already been recorded.
This is usually done so as to make sure that the numbers that have been recorded match up to the correct accounting periods.
It should be noted that Journal entries is been used to track how money moves as well as how it enters the business, hence Adjusting entries always include c. at least one income statement account and one balance sheet account.
Therefore, option C is correct.
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The price elasticity for corn from a particular farmer is likely to be ________.
The price elasticity for corn from a particular farmer is likely to be perfectly elastic because that farmer has no influence over the price regardless of how much that farmer can produce.
What is Price Theory?A microeconomic principle known as the "theory of price" or "price theory" asserts that the forces of supply and demand in the market will always decide the appropriate price for a given commodity or service.
According to the theory of prices, which is a branch of economics, the connection between a good or service's supply and demand at any given time determines the price of that good or service. If demand outpaces supply, prices ought to rise; if supply outpaces demand, prices ought to decline.
In a free market economy, producers normally seek to charge the most amount that is reasonable for their goods and services, while consumers want to pay the least amount possible to buy them. The two sides will eventually come together due to market forces at a price that both consumers and producers are ready to accept.
The market is said to be in equilibrium when the amount of an item or service that is offered equals the demand from potential customers. Price modifications are possible as market circumstances change thanks to the idea of price theory.
Thus, the Price theory holds value in economics while setting the price of goods and services.
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Complete Question:
The price elasticity for corn from a particular farmer is likely to be
because that farmer has no influence over the price regardless of how much that farmer can produce.
The total of the stockholders' rights or claims to the assets of a corporation is called? a.total liabilities. b.total stockholders' equity. c.total assets. d.total revenues.
Total Stockholders' Equity is the total of the stockholders' rights or claims to the assets of a corporation. So, the answer is letter b.
Additionally, it serves as the numerator when determining the ratio of liabilities to stockholders' equity.
Total Assets are the company's properties, cash, receivables, etc., while Total Liabilities are the company's payables. The income is the total revenues. So, it follows that information about stockholder rights or claims to corporate assets will undoubtedly be included in accounts for total stockholders' equity or total shareholders' equity.
Total stockholders' equity is a measure of the assets that an organization would still have if it went into bankruptcy right away.
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The dso can also be evaluated by comparison with the terms on which the firm _________ its goods.
The terms on which the company sells its goods might be used to compare the DSO and those terms.
What are goods?Goods are any products, raw resources, or consumables that are sold to customers, businesses, or governmental organizations.
Services are tasks carried out for the benefit of the recipients, whereas goods are physical commodities offered to clients. Automobiles, home products, and apparel are a few examples of goods. Legal counsel, housekeeping, and consulting services are a few examples of services.
The supply and demand in an economy play a big role in determining the prices of commodities. Private goods, common goods, club goods, and public goods are the four different categories of products. The degree of exclusivity, or the number of persons who can experience them, varies.
The tangible items we refer to as "material goods" They are visible, touchable, and transportable from one location to another.
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A market formed when member countries of a customs union remove all barriers to allow the movement of capital and labor within the customs unions is known as:_________
A common market is created when all restrictions on the movement of people, goods, and services inside a customs unions are removed by its member countries.
A common market is a set of states that have entered into a legal agreement and adopted a single external tariff. In a common market, countries also allow free trade and the movement of people, capital, and labor within the group. The trade agreement seeks to improve the economic standing of all market participants. The most well-known example of a common market is the European Common Market, which aims to ensure the free movement of goods, capital, services, and labor inside the European Union.
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Tom produces baseball gloves and baseball bats. Steve also produces baseball gloves and baseball bats, but tom is better at producing both goods. In this case, trade could.
Tom produces baseball gloves and baseball bats. Steve also produces baseball gloves and baseball bats, but tom is better at creating both goods. In this case, trade could. A) benefit both Steve and Tom.
What is the most obvious advantage of discipline and trade?
The most obvious financial impact of specialization can be seen in the tendency for people to choose different vocations that are more in line with their goods, skills, opportunities, and education.
How many baseball gloves are sold each year?
Each year an assessed 4.5 million baseball gloves are sold in the U.S.
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Complete Question is,
a) benefit both Steve and Tom.
b) benefit Steve, but not Tom.
c) benefit Tom, but not Steve.
d) benefit neither Steve nor Tom.
If you put up $51,000 today in exchange for a 6.25 percent, 15-year annuity, what will the annual cash flow be?
Annual Cash Flow is $5337.2 when $51000 principal amount with interest 6.25 percent to 15 year annuity.
By annual cash flow, what do you mean?A cash flow statement lists all of the cash and cash equivalents that come into and go out of a business. The net amount of cash and cash equivalents coming into and going out of a business is referred to as cash flow. Money spent and money received reflect inflows and outflows, respectively. The quantity of money coming into and going out of your business over a specific time period is known as cash flow. Cash flow is crucial because it makes it possible for you to both fulfill your current financial responsibilities and make plans for the future. Cash flow, however, is a problem that many small firms face.
The calculations of Annual Cash Flow is
PV=C(1/r-1/(r(1+r)ⁿ))
where PV is present value, r rate of interest, n time period and C compounded value.
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The competitive environment that most marketing managers experience in developed economies is:_______
Answer: MONOPOLISTIC COMPETITION.
Explanation:
What is MONOPOLISTIC COMPETITION ?
When a large number of businesses supply competing products or services that are similar but imperfect substitutes, monopolistic competition exists.
A monopolistic competitive industry has low entry requirements, and decisions taken by any one firm do not directly affect those of its rivals. The pricing and marketing decisions taken by the competing companies act as their points of differentiation.
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What+is+the+percentage+of+total+current+assets+in+terms+of+total+assets+for+walmart+for+the+year+of+2016?+(answer+in+number+format+with+%+unit+-+for+example,+25.6%)
What is the percentage of total current assets in terms of total assets for Walmart for the year of 2016? is 30.2%
Describe current assets.
All company-owned assets that can be turned into cash within a year are recorded in the Current Assets account, a line item on the balance sheet located under the Assets heading. Current assets are things that have their worth recorded in the Current Assets account.
Current assets are liquid assets such as cash, cash equivalents, accounts receivable, stock inventory, marketable securities, and pre-paid liabilities. Another name for current assets is current accounts.
In the Assets part of a company's balance sheet, Current Assets is always the first account reported. The Current Assets account is made up of a number of subsidiary accounts.
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What are the four major psychological factors that influence consumer buyer behavior?.
Consumer behaviour is influenced by four psychological factors: attitude or belief system, motivation, perception, and learning.
Motivation refers to the consumer's underlying requirements. A valuable tool is knowing how to motivate your customers.
Behaviour can also be influenced by how your target consumer views the world or learns about your product, whether online or through the offline medium.
Finally, all of the aforementioned can be influenced by belief systems. Examples include those who learn best visually. Regardless of the religious system, professionally shot pictures and visuals of your product or service can say more than a thousand words.
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Monster music company provided music lessons to customers for $10,000, receiving $6,000 in cash and the rest on account. what is monster music company's revenue under the accrual basis of accounting?
The monster music company's revenue under the accrual basis of accounting is $10,000
What is the accrual basis of accounting?
Under the accrual basis of accounting, revenue is recognized when the goods have been delivered or services rendered regardless of when payment for goods or services is received.
The fact that Monster music company already provided the music lessons whose revenue is $10,000 means that it should recognize the revenue for the whole music lessons provided rather the portion whose cash payment has been received
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True or false: the worst type of quality costs for a company to incur are internal failure costs.
The greater your discount weight, the more your current decisions are driven by the future consequences of those decisions. do you agree? explain.
Yes, a larger discount rate results in a larger weight on the utils you receive from future events. Thus, you will consider future consequences more when making decisions.
A discount made from every day or listing rate providing clients a ten percentage cut fee buy tickets at a reduction. (2) : a proportionate deduction from a debt account typically made for cash or spark off charge.
Reductions are reductions of the normal rate of a product or service so you can achieve or boom income. These discounts—moreover generally called "profits" or markdowns—are applied in a wide form of industries via each stores and producers.
A discount is an amount that is subtracted from the normal price of an item.
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Under an abc system, overhead costs are allocated to the products using a two-stage process. what happens during the second stage of that process?
Using activity rates and activity measurements, we distribute the costs in the activity pools across the items.
What is meant by ABC system?Using the activity-based costing (ABC) method, overhead and indirect expenses are allocated to linked goods and services. In contrast to conventional costing techniques, this accounting method of costing acknowledges the connection between costs, overhead activities, and manufactured goods, allocating indirect costs to products less randomly. However, some indirect expenditures, such the salary of the management and office personnel, are challenging to relate to a specific product.
Since activity-based costing (ABC) improves the dependability of cost data, it produces virtually true costs and more accurately categorizes the costs spent by the company during its production process. ABC is mostly utilized in the manufacturing industry.
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Assuming Dell sales will grow 50% in 1997, how might the company fund this growth internally?
Dell can fund this growth internally by:
The $469 million increase in current liabilities serves as a source of funds. The estimated increase in net profits to $395 million is approximately $123 million. The short-term investment is assumed to be the same as in 1996, namely $591 million. What is funding?Business financing is a funding option that allows business owners to obtain business loans to cover expenses such as temporary cash flow interruptions, expansion projects, stock and equipment, and seasonal spikes in activity. Retained earnings, debt capital, and equity funding are the three major sources of corporate financing.So, according to the given chart:
As a result, an additional operating asset of $794 million is required to sustain growth. The $469 million increase in current liabilities serves as a source of funds. The estimated increase in net profits to $395 million is approximately $123 million. The short-term investment is assumed to be the same as in 1996, namely $591 million. As a result, we can confidently predict that growth will be funded internally.Therefore, Dell can fund this growth internally by:
The $469 million increase in current liabilities serves as a source of funds. The estimated increase in net profits to $395 million is approximately $123 million. The short-term investment is assumed to be the same as in 1996, namely $591 million.Know more about funding here:
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The probabilistic estimate of the price at which a property will be sold is its?
The market value of a property is the probabilistic estimate of the price at which it will be sold.
Probabilistic Estimate
The probabilistic (risk weighted) method to estimating understands that there are uncertainties associated with each project component in the real world. As a result, there are probabilities of occurrence for each component within a range of conceivable values. Similarly, there are probabilities of occurrence within a range of potential values for the entire project estimate (which is an accumulation of distinct components determined by a mathematical mode). An estimate based on a range of numbers with related probability of occurrence for each component or, at the very least, for each component with substantive certainty.
Calculating the time-varying chance of a price reversal in the real estate market Knowledge of such price reversals may be useful in developing property trading strategies and providing confirmation of property cycle turning points. We estimate state transition rates using an index from the UK property market to derive time variable probability.
Hence, the market value of a property is the probabilistic estimate of the price at which it will be sold.
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In the monopolistically competitive sea bass market, the demand curve facing any individual firm is_____, and there are_____producers in the market.
'In the monopolistically competitive sea bass market, the demand curve facing any individual firm is downward sloping, and there are many producers in the market.
Monopolistic competition is a type of imperfect competition in which many manufacturers are competing with each other but selling different products from each other and therefore not perfect substitutes.
Monopolistic competition occurs when many companies offer similar but not identical products. Monopolistic competitors differentiate their products through pricing and marketing strategies.
A monopoly market is a theoretical condition that describes a market in which only one firm can offer its products or services to the public. A monopoly market is the opposite of a perfectly competitive market in which an infinite number of firms operate.
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To activate or learn a direct pressure sensor, what does the service technician need to do?
Enter learn mode and use a magnet, enter learn mode and reduce inflation pressure, or use a portable tester to activate or learn a direct pressure sensor.
What is the direct pressure sensor?Direct pressure sensor uses hardware sensors to detect tire pressure directly. A battery-powered pressure sensor is installed in each wheel, often on the inside of the valve, and it transmits pressure data to a central control unit, which then relays it to the car's onboard computer.
The sensing mechanism of an optical sensor is predicated on variations in the signature optical signal of an optical framework arising from the interaction with analyte molecules.
Therefore, use a magnet, go into learn mode, lower the inflation pressure, or activate or train a direct pressure sensor using a portable tester.
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Record the consumption of supplies during the month if supplies worth $4,000 were purchased on january 5 and at the end of the month supplies worth $3,000 were in hand.
If supplies worth $4,000 were purchased on january 5 and at the end of the month supplies worth $3,000 were in hand. The appropriate journal entry to record the transaction is: Debit Supplies expense $1,000, Credit Supplies $1,000.
Journal entrySince supplies worth the amount of $4,000 were purchased on January 5 and at the end of the month supplies worth the amount of $3,000 were in hand.
Hence,
Journal entry
January 5
Debit Supplies expense $1,000
Credit Supplies $1,000
($4,000-$3,000)
Therefore the appropriate journal entry to record the transaction is: Debit Supplies expense $1,000, Credit Supplies $1,000.
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