The answer is option a. a economically efficient because the pennies have been fairly distributed.
What is the straightforward definition of economy?An economy is a network of interconnected production and consumption activities that ultimately decide how resources are distributed within a community. The needs of persons who live there and operate there are met through the production and consumption of goods and services as a whole.
What is an illustration of economy?The traditional economy, which uses a country's traditions and history to direct the production and distribution of goods, is a notable illustration of an economy. Agriculture, fishing, and hunting are the main economic sectors of traditional societies.
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jennie is the ceo of an information technology company. based on the data that her researchers have compiled, she feels confident that her strategic plan for the company will be successful in the future, regardless of what happens. based on this information, it seems that jennie blank . multiple choice question.
Based on this information, it seems that Jennie Has an illusion of control
The illusion of control is the propensity for individuals to misjudge their capacity to control occasions, for instance, when somebody feels a feeling of command over results that they certifiably don't impact.
The illusion could emerge on the grounds that an individual needs direct reflective understanding into whether they are in charge of occasions. This has been known as the thoughtfulness deception. All things considered, they might pass judgment on their level of control by an interaction which is frequently untrustworthy. Accordingly, they see themselves as answerable for occasions to which there is practically zero causal connection. For instance, in one review, understudies were in a computer generated simulation setting to treat an apprehension about levels utilizing a lift. The people who were informed that they had control, at this point had none, felt like they had as much control as the individuals who really had command over the lift. The people who were persuaded to think they didn't have control said they felt like they had little control.
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Etsuko was leading her business when she set this year’s goals and developed plans to meet them. True or False?
The statement that " Etsuko was leading her business when she set this year’s goals and developed plans to meet them " is False.
What was Etsuko doing ?Etsuko was not involved in leading her business by setting goals but rather in planning. Planning as a manager involves defining goals, determining the resources required to achieve those goals, and developing a strategy for allocating and utilizing those resources.
It is a process of setting specific, measurable, achievable, relevant, and time-bound (SMART) objectives and determining the steps needed to reach those objectives.
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Leading is solely the responsibility of the manager.truefalse
Answer:
agree
Explanation:
agreed
Europe wanted luxury products and exchanged the finished products for silver from what country?
Europe wanted luxury products and exchanged the finished products for silver from Bolivia and Mexico.
What is Trading?
Trading is the act of buying and selling financial items including stocks, bonds, currencies, and commodities, as opposed to investing, which suggests a buy-and-hold strategy. The ability of a trader to achieve long-term profitability is crucial to success in trading.
Henry has food but needs wool, in contrast to Liam who has wool but needs food. To please both of them, Liam and Henry will trade food for wool in order for Liam to get food and Henry to get wool. The pinnacle of trading is this.
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Economists use some familiar terms in specialized ways
a. to make the subject sound more complex than it is.
b. because every respectable field of study has its own language.
c. to provide a new and useful way of thinking about the world.
d. because it was too difficult to come up with new terms.
Economists use some familiar terms in specialized ways to provide a new and useful way of thinking about the world.
Do economists have a unique way of using common words?The fundamental reason for this is because when unfamiliar, sophisticated words are employed to explain a new concept, people often become confused rather than developing fresh insight. Due of this, economists apply common terminology in unique contexts.
What functions do economists play in efforts to understand or better the world?Economists take on the role of policymakers when attempting to change the world. Positive statements, on the other hand, describe the world as it is, whereas normative statements outline how the world should be. Positive claims can be supported or disproven by facts.
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goods produced abroad and sold domestically are called
Imports are products made abroad and offered for sale domestically. Exports are products made domestically and sold overseas.
What products are offered for purchase abroad?Exports. All products and services that are sold and sent from a nation as exports. When merchandise is consumed in a nation where its manufacture did not take place, it is considered to have been exported.
How do tariffs work?A tariff is a levy imposed on goods produced abroad that is paid by the importing company to the government of its home nation. Ad valorem tariffs, which are imposed as a set proportion of the imports' value, are the most prevalent type.
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north carolina state university recently raised its tuition by 12%. a survey was then conducted to determine how many students would transfer to another university as a result. it was found that only about 1 in 300 responses indicated they would transfer. based on this information, the price elasticity of demand for education at this university is:
Every 300 students, one declared they would transfer. These findings indicate that the demand for education at this university is relatively inelastic in terms of price.
A good's quantity request is determined by how sensitively it reacts to its price. The demand for practically all goods declines when their price rises, however some declines are more pronounced than others. The price elasticity of demand gauges how much a product's consumption changes in response to price changes. The following is how it is mathematically expressed: Price Demand Elasticity is calculated as Price Demand Elasticity = Percentage Change in Quantity Demanded. Demand's responsiveness to changes in demand drivers is referred to as demand's elasticity. Three different types of demand elasticity exist, including. Demand elasticity is defined as the degree to which consumer demand for a good change when its price changes.
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if someone deliberately understates costs and thereby increases profits, this can cause the stock price to rise above its intrinsic value. the stock price will probably fall in the future. also, those who participated in the fraud can be prosecuted, and the firm itself can be penalized. group of answer choices false true
This statement is True. Those who participated in the fraud can be prosecuted, and the firm itself can be penalized.
In finance, the intrinsic price of an asset typically refers to a cost calculated on simplified assumptions. for instance, the intrinsic cost of an alternative is based totally on the present-day market fee of the underlying tool but ignores the possibility of destiny fluctuations and the time cost of money. Intrinsic cost is a measure of what an asset is well worth. This measure is arrived at by means of an objective calculation or complicated economic version. Intrinsic cost isn't the same as the present-day market rate of an asset.
The market rate of a choice is commonly distinct from this intrinsic fee, due to uncertainty. options are valid for a duration of time, so inventors might also purchase or sell alternative contracts on their perception of the chance that the cost of the stock will change before the choice's expiration date. that is called the option time cost. it was not possible that they might ever maintain intrinsic value.
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what are the economic costs of waiting lines? how might these costs be measured? what decision criteria can be used to justify expanding services to reduce waiting times?
The economic costs of waiting lines can have a significant impact on businesses and organizations, and can be classified into several categories:
Direct costs: This includes the cost of staffing and managing the waiting line, such as wages for employees or security personnel, or the cost of providing amenities to customers while they wait.
Opportunity costs: This includes the potential revenue or sales that are lost due to customers leaving the line or choosing to go elsewhere due to long waiting times.
Customer dissatisfaction costs: This includes the negative impact on customer satisfaction and loyalty due to long waiting times, which can result in lost repeat business and negative word-of-mouth.
Productivity costs: This includes the impact on productivity due to employees waiting in line, such as lost work time or decreased productivity due to distractions or frustration.
Measuring the economic costs of waiting lines can involve several methods, including:
Cost-benefit analysis: This involves comparing the cost of expanding services to reduce waiting times with the potential benefits, such as increased customer satisfaction, increased revenue, or reduced costs.
Customer surveys: This involves collecting data from customers about their waiting experiences, and using this information to calculate the potential impact on customer satisfaction and loyalty.
Time and motion studies: This involves measuring the time that employees and customers spend waiting in line, and calculating the potential impact on productivity and revenue.
When making a decision about expanding services to reduce waiting times, decision-makers can use several criteria to justify the investment, including:
Return on investment (ROI): This involves calculating the potential benefits of the investment (such as increased customer satisfaction, increased revenue, or reduced costs) and comparing this with the cost of the investment.
Customer satisfaction: This involves considering the potential impact on customer satisfaction and loyalty, and the impact that this could have on repeat business and word-of-mouth.
Competition: This involves considering the impact that long waiting times could have on the company's competitiveness and the ability to attract new customers.
Legal and regulatory requirements: This involves considering any legal or regulatory requirements related to waiting times, such as accessibility requirements or fair labor standards.
Ultimately, the decision to expand services to reduce waiting times should be based on a careful analysis of the potential costs and benefits, and a consideration of the decision criteria mentioned above.
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we have assumed that the production function simultaneously has constant returns to scale and diminishing marginal products. what do each of these terms mean? is it a contradiction for a production function to feature constant returns to scale and diminishing marginal products? why or why not?
Constant returns to scale and diminishing marginal products are two distinct concepts that describe the behavior of production functions.
What are concepts of production aspects?The "concepts of production aspects" refer to the fundamental ideas and principles that describe how production occurs in an economy. These concepts include:
Production functions: A mathematical representation of the relationship between inputs and outputs in production.
Scale of production: The level of output produced with a given set of inputs, and how the level of output changes as the inputs change.
Returns to scale: The relationship between changes in inputs and changes in output, and whether the output-input ratio remains constant, increases or decreases as inputs increase.
Marginal products: The change in output that results from a one-unit increase in an input, holding all other inputs constant.
Diminishing marginal products: The phenomenon where the marginal product of an input declines as the input increases, holding all other inputs constant.
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which of the following is one of the characteristics of using software as a service model? group of answer choices longer deployment times scalable systems fixed operating expenses heightened financial risk higher maintenance costs
Using the software as a service business model, fixed operating expenses.
The actual costs incurred to maintain a property that do not change over time are known as fixed operational expenses.
The occupancy rate of a property has no bearing on these expenditures. A typical illustration of a fixed operational expense is property insurance.
While variable costs change as output volume changes, most fixed costs remain constant because they aren't used as production inputs directly.
Another couple of examples of fixed expenses are rent and utility costs. These costs are important for the operation of the firm yet remain constant regardless of changes in production.
Businesses can figure out what their fixed cost per unit of production is. This ratio aids the business in comprehending economies of scale.
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accounts payableAmounts to be paid in the future for goods or services already acquired.An accountant who combines accounting and investigating skills to uncover suspected fraudulent business activity, or to prevent such activity.Amounts to be received in the future due to the sale of goods or services.
Using this special mix in litigation support and investigative accounting contexts, forensic accountants, also known as forensic auditors or investigative auditors, combine their accounting expertise with their investigative abilities.
What are Forensic accountants?Since the time of the ancient Egyptians, when Pharaoh had scribes account for his wealth and other possessions, forensic accounting or forensic accountancy has been utilized.
These scribes were tasked with detecting and preventing fraud in Pharaoh's courts.
Up until the start of the 20th century, their function remained mostly unchanged.
The skills required of an accountant include knowledge of the most recent accounting standards and practices, proficiency with a variety of Financial Reporting Systems, and the ability to make recommendations that will improve internal controls.
Due to the various types employed in overseas accounts or corporations, they also require knowledge of the various monetary units used globally.
Hence, Using this special mix in litigation support and investigative accounting contexts, forensic accountants, also known as forensic auditors or investigative auditors, combine their accounting expertise with their investigative abilities.
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What shows the income and expenses of a company over a period of time?
The revenues, expenses, and profitability of a company are shown on an income statement over time. It is also sometimes referred to as a profit-and-loss (P&L) or earnings statement.
What is an income statement?An income statement displays the revenues, costs, and profitability of a business over time.
It is also sometimes referred to as an earnings statement or a profit-and-loss (P&L) statement.
It displays your sales revenue for goods and services.
One of a company's financial statements, an income statement or profit and loss account (also known as a profit and loss statement (P&L), statement of profit or loss, revenue statement, statement of financial performance, earnings statement, statement of earnings, operating statement, or statement of operations) lists the company's income and expenses for a specific time period.
It describes the process through which revenues are converted into net income or net profit (the result after all revenues and expenses have been accounted for).
Therefore, the revenues, expenses, and profitability of a company are shown on an income statement over time. It is also sometimes referred to as a profit-and-loss (P&L) or earnings statement.
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what are hr's role in the (rapidly rising) remote work environment? what do hr departments need to do to enhance employee productivity in the remote work setting
In order to understand how remote work burnout affects employee performance and to help pinpoint its cause, HR can turn to people analytics.
An effective strategy for remote work entails tech-supported flexibility that aids rather than supervise employees.
The HR department supports policies for remote work that provide the advantages required to lessen burnout and foster achievement. As a result of the COVID-19 crisis, HR has been tasked with developing policies for communication and compliance to protect sensitive health and employee data, mastering coronavirus-related tech tools like contact tracing apps and data dashboards, creating new procedures for virtual hiring and remote onboarding, and assisting in training remote workers in the use of new technologies.
Experts claim that technology acumen, once thought of as a subspecialty skill set in HR, has become a front-burner competency for business partners and generalists as a result of the growing technology-support requirements of virtual workers as well as the increase in the number of technology platforms used within HR.
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11. how much manufacturing overhead was applied to job p and how much was applied to job q? (do not round intermediate calculations.)
Job P was applied a Manufacturing Overhead of $5,000 and Job Q was applied a Manufacturing Overhead of $3,500.
What do you mean by Manufacturing Overhead?
Manufacturing overhead include costs such as utilities, rent, and taxes, as well as depreciation and repairs. Manufacturing overhead also includes labor costs, such as wages and benefits, as well as the cost of materials and supplies used to complete the product. Manufacturing overhead differs from production costs, which are costs associated with the direct production of goods and services. Manufacturing overhead is not directly related to the production process, but is necessary for the production process to take place. Manufacturing overhead is typically allocated to the goods produced, and is often included in the cost of goods sold. Manufacturing overhead is a key component of a company's cost structure and should be closely monitored in order to maintain profitability.
So, The required Manufacturing Overheads are $5000 and $3500.
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your company is an engine manufacturer that produces the engines used in harley davidson motorcycles. ch. 1 says demand for your product is derived demand. what does that mean?
Demand for Harley motorcycles influences demand for your product.
What happens when a company sells to a customer directly?Business-to-consumer marketing describes the practice of companies selling goods and services directly to customers without the use of a middleman. B2C mainly refers to online merchants who use the internet to sell goods and services to customers.
Which of the following regulatory agencies is in charge of passing laws?The only branch of the government with the authority to enact new laws or amend existing ones is Congress, which has complete legislative authority. Regulations issued by Executive Branch agencies have complete legal effect, but they can only be enforced because of laws passed by Congress.
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All of the following are types of adjusting entries excepta. depreciation.b. deferrals.c. accruals.d. transactions.
All of the following are types of adjusting entries except:
a. depreciation
b. deferrals
c. accruals
d. transactions
Answer: d. transactions
as an example of a trade-off decision faced by an operations manager, an increased warranty period on a car will lead to a(n)]]
As an example of a trade-off decision faced by an operations manager, an increased warranty period on a car will lead to a(n)]increased cost for the manufacturer.
This is because providing a longer warranty period means that the manufacturer is responsible for any repairs or replacements that may be necessary during that extended period, which can be costly.
On the other hand, offering a longer warranty period can also increase customer satisfaction and loyalty, which can lead to increased sales and positive brand reputation. So, in this situation, the operations manager must weigh the potential costs and benefits of offering a longer warranty period and make a trade-off decision that best aligns with the company's goals and objectives.
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suppose a senator introduces a bill to legislate a minimum hourly wage of $16 per hour. this type of price control is called a
Suppose a senator introduces a bill to legislate a minimum hourly wage of $16 per hour. This type of price control is called a price floor.
What is price floor?
Price floors happen when the amount charged is greater than or less than the market equilibrium price determined by supply and demand. Through observation, it has been shown that lower price floors are ineffective. It has been discovered that the price floor is crucial in the labor-wage market. The best spot for a price floor is above the equilibrium point since this will drive prices to rise from the current equilibrium to the desired price. Price floors work best when they are placed above the point at which supply and demand reach equilibrium.
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which of the following statements is correct? multiple choice the payment of a cash dividend reduces net income. cash received from issuing common stock to stockholders is reported as a financing activity cash flow within the statement of cash flows. providing services to a customer on account does not impact net income. the purchase of manufacturing equipment is reported within the statement of cash flows as a financing activity.
Providing services to customer on account does not impact the net income is the correct statement.
What is net income?In accounting and business, net income is defined as an entity's income less its costs, depreciation and amortisation, interest payments, and taxes for a certain accounting period. It is determined as the remaining revenues, gains, and losses for the time period, less all expenses and losses. It is sometimes referred to as the net increase in shareholders' equity as a result of business operations. For families and individuals, net income is defined as (gross) income less taxes and other deductions. Net profit is simply the amount of money that is still available after all expenses related to an activity have been paid. The accountant or bookkeeper is responsible for accurately estimating and allocating revenues and expenses within a certain operational framework.
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if a country does not have an absolute advantage in the production of at least one commodity, then it cannot gain from free trade. group of answer choices true false
If a country does not have an absolute advantage in the production of at least one commodity, then it can gain from free trade.
What is absolute advantage?
Absolute advantage is the capacity of an individual, business, area, or nation to produce more of an item or service per unit of time using the same amount of inputs as its rivals or to produce the same amount of a commodity or service per unit of time using fewer inputs.
Absolute advantage can be attained by employing fewer inputs or a more effective process to produce the good or service at a lower absolute cost per unit.
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the following is part of the estate tax calculation for one of your clients who died in the current year: asset value black aces inc. $6,200,000 remainder of estate 9,500,000 total gross estate $15,700,000 funeral and administrative expenses ($60,000) debts of decedent (40,000) total deductions for age ($100,000) adjusted gross estate $15,600,000 marital deduction ($-0-) charitable deduction (200,000) taxable estate $15,400,000 your client solely owned and personally operated black aces inc. for the last 25 years of his life. his will leaves the business outright to his son, $200,000 to charity, and the remainder to his daughter. is the estate entitled to apply to pay estate taxes on the farm property in installments under irc section 6166, and why or why not?
In order to determine the estate tax, the net estate is multiplied by 0.06 next. For instance, if the gross estate is PHP 5,000,000 and the deductions are PHP,000,000, the net estate is PHP 400,000. The cost of the estate tax, calculated by multiplying the net estate of PHP 4 million by 0.06, is PHP 240,000.
How do you calculate estate tax due?1,000,000 Peso Standard Deduction (P5, 000, 000.00)
The ratio of the value of such component to the value of his entire gross estate, wherever it is located;
Property that was previously taxed;
General public transfers;
Net communal or marital property owned by the surviving spouse
Remember that under the Tax Reform for Acceleration and Inclusion (TRAIN) Law, an estate tax must be paid on any gross value above PHP 200,000.
This information is important for calculating the estate tax. In the Philippines, an estate's net estate is subject to an estate tax of 6%.
To calculate the net estate, just deduct any legal deductions from the gross estate or the appraised worth of the decedent's personal property.
In order to determine the estate tax, the net estate is multiplied by 0.06 next.
For instance, if the gross estate is PHP 5,000,000 and the deductions are PHP,000,000, the net estate is PHP 400,000.
The cost of the estate tax, calculated by multiplying the net estate of PHP 4 million by 0.06, is PHP 240,000.
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smith sold blackacre estate to willis. before he sold it, blackacre had an appurtenant easement across whiteacre estate, owned by johnson. when willis tried to use the easement, johnson protested. which is true?
In the given case, an appurtenant easement always passes when the property is sold
An appurtenant easement instantly passes to the next owner of the dominant estate and grants the right to utilise the adjacent property for a defined purpose. It relates to a particular piece of property and is transferred along with ownership of that property. The appurtenant easement across Whiteacre Estate also went to Willis as the new owner of Blackacre Estate when Smith sold Blackacre Estate to him.
Johnson objected in this instance when Willis attempted to use the easement, but the appurtenant easement is still in place and remains with the ownership of Blackacre Estate. The appurtenant easement nonetheless passes with the ownership of the property, despite the possibility that Johnson's protest will result in a legal fight over its scope and purposes.
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what is intellectual property? select the correct answer below: the body of law that includes patents, trademarks, copyrights, and trade secret law a government authority conferring a right or title for a set period the exclusive legal right, given to an originator or an assignee to print, publish, perform, film, or record literary, artistic, or musical material a secret device or technique used by a company in manufacturing its products
Intellectual property is the body of law that includes patents, trademarks, copyrights, and trade secret law. option (A) is correct.
Intellectual property (IP) alludes to manifestations of the brain, like creations; scholarly and imaginative works; plans; images, names, and pictures utilized in trade. IP guarantees you are perceived as the maker of such things as innovation; abstract and creative works; plans and programming.
The idea of Intellectual property connects with the way that specific results of human astuteness ought to be managed at the cost of the very defensive privileges that apply to actual property, which are called substantial resources. Most created economies have legitimate measures set up to safeguard the two types of property.
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This question is not complete , Here I am attaching the complete question:
what is intellectual property? select the correct answer below:
(A) the body of law that includes patents, trademarks, copyrights, and trade secret law.
(B) a government authority conferring a right or title for a set period.
(C) the exclusive legal right, given to an originator or an assignee to print, publish, perform, film, or record literary, artistic, or musical material.
(D) a secret device or technique used by a company in manufacturing its products.
as a result of poor delivery performance by a supplier of high quality metal components, jim houser, purchasing agent at milton toy company, plans to consider a possible change in suppliers. this provides an illustration of: a. a modified rebuy. b. a straight rebuy. c. routinized problem solving. d. selective perception. e. the backlash effect.
Jim Houser, a purchasing agent at Milton Toy Company, intends to think about a potential supplier switch as a result of a supplier of high quality metal components' subpar delivery performance. This serves as an example of a modified rebuy.
What approaches are suitable for an out supplier to take in a modified rebuy scenario?Offering performance guarantees is one tactic that might be appropriate for a "out" supplier to use when dealing with a modified rebuy scenario. urging the organization to try the company's product. Identifying and addressing the issue the company has with the current provider.
Who influences the purchasing choice by offering data for the assessment of alternatives or by establishing purchasing requirements?The job of an influencer is played by those who provide information for the evaluation of alternatives or who establish the criteria for a purchase.
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the principle that assets should be recorded at their original cost to the company.True or False?
True. ( The historical cost principle is an accounting practice that states that all assets of a company are recorded at their original cost rather than their current market value. )
What situations are examples of cost principles?
The cost principle states that the cost is recorded at the actual price paid for the item. For example, when a retailer purchases inventory from a supplier, it records the purchase at the cash price actually paid. The cost corresponds to the amount paid in the transaction.
What's the basic cost principle?
MIT follows the four cost principles. Costs must be (1) acceptable, (2) imputable, (3) reasonable, and (4) consistent. These principles may vary from project to project, but should be used to determine if the cost of a funded project is reasonable.
How are cost principles applied?
The cost principle requires asset, liability or participation to be recognized at its original cost. This principle is widely used to record transactions as it is easiest to use the original purchase price as an objective and verifiable proof of value.
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an oligopoly is an industry market structure with part 2 a. a single firm in which the entry of new firms is blocked. b. a small number of firms each large enough to impact the market price of its output. c. many firms each too small to impact the market price. d. many firms each able to differentiate their product.
A market structure known as an oligopoly has a small number of enterprises that are individually sufficiently large to have an impact on the market price of their output.
How does the oligopoly market structure work?In oligopoly markets, a limited number of suppliers control the market. They are present in every nation and a wide variety of industries. While some oligopoly markets are much more competitive than others, others can at least appear to be so.
Describe an oligopoly. Part 2 Is a market arrangement called an oligopoly?A market structure known as an oligopoly is one that has few competitors and high entrance barriers. An oligopoly is a market structure with few competitors and entrance restrictions. As each company decides on prices, quantities, and advertising to maximize profits, there is frequently intense competition between businesses.
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the marketing program part of the planning phase of the strategic marketing process includes which of these?
a. Developing a mission statement
b. Market segmentation
c. Analyzing the competitor
d. Developing the budget
e. Exploiting positive deviation
strategic marketing process The final answers - Developing the budget, Place, Marketing plan.
What are the four main components of a marketing plan?These four Ps are a "marketing" that includes four crucial elements for selling a good or service: product, pricing, place, & promotion.When businesses create strategies & marketing plans for reaching their target audience, they frequently consider the four Ps.
What four steps go into developing and implementing a marketing strategy?The four steps of a marketing process are marketing starting point, marketing mix planning, marketing implementation, and marketing control.
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if you note the following yield curve in the wall street journal, what is the one-year forward rate for the period beginning one year from today, 2f1 according to the unbiased expectations theory? (do not round intermediate calculations. round your percentage answer to 2 decimal places. (e.g., 32.16))
Rate on a 5-year Treasury: The 10-year Treasury rate is 4.0%: Forward rate = (4.50% - 4.00%) + 4.00% Forward rate = 4.50%
What is the one-year forward rate for the period beginning one year from today, according to the unbiased expectations theory?Forward rate = (10-year rate - 5-year rate) + 5-year rate
Detailed explanations are provided below. Collect the Wall Street Journal data.
The 5-year Treasury rate is 4.00%, and the 10-year Treasury rate is 4.50%, according to the data.
Step 2: Apply the unbiased expectations theory to the process of calculating the one-year forward rate.
According to the unbiased expectations theory, the one-year forward rate can be calculated using the following formula: The forward rate is the product of the 10-year rate and the 5-year rate.
The one-year forward rate will be calculated using the provided data:
The forward rate is equal to 4.50% minus 4.0%, plus 4.00%. The forward rate is equal to 0.50% plus 4.00%. Round the answer to the nearest two decimals.
According to the unbiased expectations theory, the one-year forward rate is 4.50 percent.
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amounts withheld from each employee for social security and medicare vary by state. group of answer choices true false
Each state has a different amount that is deducted from each employee for social security and Medicare. false
A person recruited by an employer to perform a certain duty is known as an employee. The salary, number of hours worked, and working conditions of employees are all under the authority of their employers. Employees receive advantages over contractors in return. The dictionary's straightforward definition of "employee" is "a person who works for another in exchange for financial or other compensation." 3 According to that definition, independent contractors would seem to be considered employees. According to common-law principles, anyone who performs services for you is your employee if you have the authority to control what will be done and how it will be done. This still holds true even when you give the employee freedom of action. What matters is that you have the ability.
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