Not enforceable because Umberto was intoxicated enough to lack mental capacity when he agreed to it.
What is enforceable contract?
Every promise or group of promises that serve as payment for one another constitute an agreement. The Contract is enforceable by law when these promises are recognised as lawful by a court of law and the parties to the Contract are liable for keeping their commitments.
What is an enforceable contract's essential three components?
The promise to perform or refrain from performing a specific activity in the future was made by one of the parties, consideration which is promise of anything of value made in exchange for the intended conduct or inaction and acceptance which means the offer was unmistakably accepted.
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governments usually regulate monopolies when the costs associated with the production of an essential good or service are relatively and it may not make sense to have multiple firms duplicating these costs.
Governments usually regulate monopolies when the fixed costs associated with the production of an essential good or service are relatively large and it may not make sense to have multiple firms duplicating these costs.
A government is the gadget or organization of people governing an prepared community, typically a kingdom. inside the case of its huge associative definition, government typically includes legislature, govt, and judiciary.
A central authority is the gadget to govern a kingdom or network. The Columbia Encyclopedia defines authorities as "a device of social control under which the right to make laws, and the right to put in force them, is vested in a particular group in society".
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bob and carlotta are welders working for two different divisions of the same company. both have the same level of experience. however, bob earns more than carlotta. under the fair labor standards act (flsa), which statement justifies the organization's decision to pay bob more than carlotta?
Therefore, Bob's residence in a region with higher living costs serves as the proper justification for the organization's choice.
What do you mean by labor standards?The rules and regulations that control working conditions (such as minimum salaries, workplace health and safety, employment stability, and working hours) are known as labor standards. The Fair Labor Standards Act of 1938, which is codified at 29 U.S.C. 203, established rights such as a minimum wage and "time-and-a-half" overtime pay. Everyone who works more than forty hours each week is entitled to these rights. Additionally, it prohibits "oppressive child labor" on youngsters.
What is the importance of labor standards?It is crucial to comprehend this since failing to obey the law will never be an acceptable defense. The rights and benefits of employees are outlined in labor laws, which also establish specific criteria like the amount of weekly paid time off, donations, and the like. These lay out the terms of employment, including the number of hours that must be worked, how much must be paid, and how many days off must be taken. Employees in businesses that are subject to federal regulation must abide by these standards.
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traditional media outlets such as newspaper, radio, and television occupy the majority of a sport public relations professional's time whereas social media management is generally the responsibility of the sport marketing professionals. a. true b. false
Traditional media outlets such as newspaper, radio, and television occupy the majority of a sport public relations professional's time whereas social media management is generally the responsibility of the sport marketing professionals.
The given statement is False.
Explain in detail.
The primary distinction between the two is that whereas public relations outcomes are obtained through the distribution of news releases and pitches to the media, advertising space is compensated. For instance, you must purchase online banner advertising space, but you can propose a story to a news organization.Give numerous justifications for why ticket sales promotions used by team sport marketers to increase ticket sales must be deliberate and cautious. because sales promotions play a crucial role in positioning a product in consumers' minds. There are two types of sales promotions: price discounts and non-price promotions.To know more about Sports here
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f $500,000 par value bonds with a carrying value of $499,000 are redeemed at 103, the company will record a
$13,970 gain.
$1,497 gain.
$16,000 loss.
$14,970 loss.
F $500,000 par value bonds with a carrying value of $499,000 are redeemed at 103, the company will record a $16,000 loss
($500,000 × 1.03 = $515,000; $515,000 > $499,000)
What is the value of a bond?Bond valuation is a method for figuring out a certain bond's hypothetical fair value. Bond valuation comprises figuring out the face value or par value of the bond as well as the present value of the bond's future interest payments, commonly referred to as its cash flow or future value.
Depending on your situation, savings bonds might make a smart addition to your retirement investment portfolio. However, due of the guarantees provided by the government, interest rates are frequently low. Over time, other investments, including stocks, typically outperform savings bonds.
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what advice would you share with someone who is thinking of enrolling in the project management course
A successful project manager must possess the following three essential qualities: leadership, management, and communication.
What do you consider to be an essential skill for a successful project manager?
The main abilities of a venture chief incorporate initiative, correspondence, using time productively, arranging, group the board, and decisive reasoning.He or she must also be able to use the tools they have to the fullest and keep up with project management trends.
What is the most crucial action that a project manager should take?
The most crucial role of a PM is to foster an environment where the team can innovate if success depends on innovation.Throughout the project, the PM must communicate with the team and stakeholders to accomplish this;focus on problem-solving and allow for failure.
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A job interview is sometimes viewed as a test to guess the right answers, or as an interrogation where you have to defend your background and skills. However, an interview should be thought of as an opportunity to ________.A) say the right thingB) share informationC) sell yourselfD) showcase your skillsE) persuade
A job interview is sometimes viewed as a test to guess the right answers, or as an interrogation where you have to defend your background and skills. However, an interview should be thought of as an opportunity to share information.
information economics or the economics of records is the department of microeconomics that studies how data and statistics structures have an effect on an economy and monetary choices. records economics is officially related to the game concepts as two special styles of video games that may follow, which include games with ideal records, entire statistics, and incomplete facts. Experimental and recreation-theory methods were advanced to model and test theories of facts economics, such as potential public-policy packages which include mechanism layout to elicit information-sharing and in any other case welfare-enhancing behavior.
An instance of game theory in practice would be if potential personnel are going for an identical promotion at work and are speaking with their employees about the job. but, one employee may additionally have greater facts approximately what the position might entail than the alternative.
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credit risk implies that the promised yield to maturity on the bond is higher than the expected yield. t/f
This statement is true.
Credit risk arises from the capability that a borrower or counterparty will fail to carry out on an duty. For most banks, loans are the most important and maximum apparent supply of credit score threat. However, there are other sources of credit risk each on and stale the stability sheet.
Credit risk is described as the capability loss springing up from a bank borrower or counterparty failing to satisfy its duties in accordance with the agreed terms.
Credit risk is maximum honestly described because the capability that a financial institution borrower or counterparty will fail to meet its obligations in accordance with agreed terms. The goal of credit danger control is to maximize a bank's risk-adjusted price of return by keeping.
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_____ is the physical positioning or geographic site of facilities and must be determined by the needs and requirements of an organization.a. Layoutb. Locationc. Margind. Design
Location is the physical positioning or geographic site of facilities and must be determined by the needs and requirements of an organization.
Site geography: what is it?Site can be found on a map and is the precise location of a city. Cities are situated in relation to their natural and man-made surroundings. Cities have geographically specific characteristics on their sites. The city's environment comprises features that aren't specific to the place of settlement.
In geography, what are the two different sorts of location?One of two ways—absolute or relative—can be used by geographers to pinpoint a location. Both are geographical descriptions of a specific place. The distinction between absolute and relative position will now be discussed.
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a manufacturer of specialty jams and jellies has decided to ally itself with an orchard and vineyard growing rare strains of fruit. this is a(n) strategy. a. horizontal complementary b. network c. vertical complementary d. uncertainty reduction
A specialty jam and jelly company has decided to partner with an orchard and vineyard that grows rare fruit strains. This is a vertical complementary strategy.
What do you mean by vertical complementary strategy?
A vertical strategic alliance (also known as a vertical complementary strategic alliance) is a voluntary strategic partnership in which firms share specific types of resources and capabilities from various supply chain segments (not to confuse with the value chain.) Vertical alliances strengthen business relationships by exchanging knowledge, resources, and capabilities. Suppliers can participate in the product design process, and distributors can participate in the distribution arrangements process. To form a successful alliance, the participants must share the same goals and objectives, have a strong desire to achieve them, and understand and carry out the necessary processes.
So, The required answer is vertical complementary strategy.
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who is affected when a pigouvian tax is imposed on a market with a negative production externality?
A Pigovian charge is expected to burden the maker of labor and products that make unfavorable secondary effects for society. Financial analysts contend that the expenses of these negative externalities, like ecological contamination, are borne by society instead of the maker.
What happens when a Pigouvian charge is forced?
At the point when Pigouvian charges are forced, the inventory of the monetary action delivering the negative externality will diminish. In this manner, the amount requested will diminish, while the cost will increment.
What happens when you charge a negative externality?
Government can assume a part in diminishing negative externalities by burdening merchandise when their creation produces overflow costs. This tax collection actually expands the expense of delivering such merchandise.
When a duty is forced on a market with a negative externality the market is?
At the point when a negative externality is available in a market, when a portion is forced, it is: Not proficient, on the grounds that people net advantage from the sum set by the share are unique.
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assume that the t-shirt industry is perfectly competitive. if the industry is in long-run equilibrium when the market price of t-shirts is $10:
Assume that there is fierce competition in the T-shirt market. The bare minimum average cost of producing a T-shirt is $10 if the market price of a T-shirt is $10 and the industry is in long-term equilibrium.
The long run is a theoretical notion in economics when all markets are in equilibrium, all prices have fully adjusted, and all quantities are in equilibrium. The short run, when there are certain restrictions and markets are not completely in equilibrium, contrasts with the long run.
The total cost of manufacturing divided by the number of units produced is known as the average cost of production. Simply said, the average cost is calculated by dividing the total cost of production by the number of units produced.
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assume that the percentage of women in the labor force of a certain country is 34 percent. a company employs ten workers, two of whom are women. if you were to use a simulation to mirror the real situation, how would you proceed with the labeling?
The average number of women is (3+0+1)/3 = 4/3
As there is a 34% chance of selecting a woman, if a digit is 0-3, it is a woman and if it is 4-9 it is a man.
Row 136. 86051 45093 0, 1, 0, 3 are less than 4, so there are 4 women.
20021 98648 2, 0, 0, 2, 1 are less than 4, so there are 5 women.
23900 49375 2, 3, 0, 0, 3 are less than 4, so there are 5 women.
c) On average, there are (5+5+4)/3 = 14/3 women.
d) 71435 51648 1, 3, 1 are less than 4, so there are 3 women
89675 97778 There are no numbers less than 4, so there are 0 women.
99624 89697 2 is below 4 so there is 1 number less than, so there is 1 woman.
The average number of women is (3+0+1)/3 = 4/3
It is not the same. This could be simply a random result.
The mean (average) of the records set is found by means of adding all numbers in the records set and then dividing by using the variety of values within the set. The median is the middle value when a record set is ordered from least to finest. The mode is the number that takes place most usually in a statistics set.
The average is described as the suggested cost that's identical to the ratio of the sum of the quantity of a given set of values to the total wide variety of values gift within the set.
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after buying green bananas or unripe avocadoes, they can be kept in a brown bag to ripen. the hormone released by the fruit and trapped in the bag is probably:
When fruits are kept in a bag to ripen, the hormone released by the fruit and trapped in the bag is most likely ethylene. Therefore, the option 3 holds true.
Ripening of a fruit can be referred to or considered as a process wherein the fruits fall from the trees without being completely edible, then they turn edible due to certain natural or artificial methods being followed. In the process of ripening, the fruits release a hormone during the process, which is most likely the hormone of an ethylene.
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Complete questions.
After buying green bananas or unripe avocadoes, they can be kept in a brown bag to ripen. The hormone released by the fruit and trapped in the bag is probably:
Your Choice
1 abscisic acid
2 cytokinin
3 ethylene
4 gibberellic acid
The ratio of the percentage change in the quantity supplied of a good/service/e-good/e-service to a given percentage change in its price, or cost, is known as the price elasticity of supply. True False
TRUE: The ratio of the percentage change in the quantity supplied of a good/service/e-good/e-service to a given percentage change in its price, or cost, is known as the price elasticity of supply
What is price elasticity of supply?
The percentage change in quantity supplied divided by the percentage change in price represents the price elasticity of supply.
The five major categories into which elasticities can be effectively categorized.
Perfectly elastic, elastic, perfectly inelastic, inelastic, and unitaryA good or service's responsiveness to supply after a change in its market price is measured by its price elasticity of supply. Basic economic theory states that when a good's price grows, so will its supply. A good's supply will fall when its price rises, on the other hand.
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maxim has already spent $30,700 to manufacture a hamster food product called green health. maxim currently has 10,000 bags of green health on hand that can be sold for $94,480. alternatively, maxim can process it further into a different product, premium green, at an additional cost of $6,350. if maxim processes further, the premium green can be sold for $102,900. this would result in revenue of:
If maxim processes further, the premium green can be sold for $102,900. this would result in revenue of: $ 2070
Calculation of Incremental Income if Process Further
Sell As is Process Further Incremental amount
Sales Revenue 94480 102900 8420
Additional Expenses 0 -6350 -6350
Net income 94480 96550 2070
Incremental income = $ 2070
Revenue is the entire quantity of profits generated through the sale of goods and offerings associated with the primary operations of the commercial enterprise. industrial sales will also be known as sales or as turnover. a few organizations get hold of revenue from hobby, royalties, or different costs
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if a manufacturer of fast-moving consumer goods (fmcg) is interested in measuring consumers’ movement through the adoption hierarchy, which ad effectiveness measure should it employ
If a manufacturer of fast-moving consumer goods (fmcg) wants to track consumers' progression through the adoption hierarchy, it should use ad tracking.
Fast-moving consumer goods, also known as consumer packaged goods, are items that are sold quickly and cheaply. Non-durable household goods like packaged foods, beverages, toiletries, candies, cosmetics, over-the-counter drugs, dry goods, and other consumables are examples.
FMCG is an abbreviation for Fast-Moving Consumer Goods, also known as consumer packaged goods. Products that customers frequently use and replace are referred to as consumer packaged goods (CPG) in the industry. Consumer packaged goods include things like food, drinks, cosmetics, and cleaning supplies.
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which general objective for assessing online advertising effectiveness makes use of the metric of the profile of website visitors?
Utilizing the statistic of website visitor profiles allows for the general purpose of user targeting when evaluating the efficacy of online advertising.
What does website traffic metric mean?A number of measurements are conducted on a certain website to better track its performance and statistics, and these measurements are known as website metrics. Monitoring these figures is essential
What is SEO and web traffic metrics?The SEO Traffic KPI measures the number of visits to your website that are the result of organic or paid search traffic. By coupling web visit metrics with goal-completion metrics, you get a complete picture of your SEO performance.
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A ________ includes a buyer, a seller, a product or service and other factors, such as how the physical environment makes one feel.
A) post-purchase process
B) purchase process
C) consumption situation
D) psychological situation
A consumption situation includes a buyer, a seller, a product or service and other factors, such as how the physical environment makes one feel. Option C) consumption situation is the correct option of the given statement.
By consumption situation, what do you mean?According to this argument, people's consumption patterns determine if they have any intention of adopting a new product, and whether they will have any impact on that intention will rely on how they feel about that product category and how much leeway they are given to embrace it.
What does'sacred consumption' mean?Consumption that is considered sacred often refers to unusual or rare occasions. Holidays, rites of passage, and religious occasions may be included in this list. When compared to profane consumption, which is connected to commonplace happenings, this is a contrast.
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insurance that protects the lender in the event that the borrower does not repay the mortgage is called:
Insurance that protects the lender in the event that the borrower does not repay the mortgage is called Mortgage insurance .
Why do mortgage insurance policies exist?You can qualify for a loan that you might not otherwise be able to acquire since mortgage insurance reduces the risk to the lender of making a loan to you. Mortgage insurance will typically be required of borrowers who put down less than 20% of the home's price.
Does purchasing mortgage insurance make sense?If you find yourself unable to make your monthly mortgage payments owing to a variety of reasons, mortgage protection insurance serves as a safety net to pay them for you. Your home may not be repossessed if you are able to avoid going into mortgage default.
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which statement below is true? group of answer choices the outcome of a simultaneous, one-shot game will be in cell d this is an example of a prisoner's dilemma neither company has a dominant strategy only one company has a dominant strategy
If the players choose their actions without knowing what the other players are doing, the game is considered simultaneous-move.Even though it may very well be the case, this does not necessarily indicate that the players are acting simultaneously.
What is an illustration of a prisoner's quandary?
A crime is alleged against two prisoners.If one person makes a confession and the other does not, the one who makes a confession will be freed right away, while the other person will serve 20 years in prison.Each will only be held for a few months if neither of them confesses.Both will be sentenced to 15 years in prison if they confess.
Given the prisoner's predicament, what is the most likely outcome?
In a prisoner's dilemma, the most likely outcome is for both players to defect, or act selfishly, resulting in poor outcomes.This is likewise the Nash Balance, a dynamic hypothesis inside game hypothesis that expresses a player can accomplish the ideal result by not veering off from their underlying methodology.
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item10 item 10 the simple deposit expansion multiplier is really too simple for understanding the link between changes in a central bank's balance sheet and the quantity of money in the economy because it
The link between changes in central bank's balance sheet and quantity of money in economy because it ignores fact that people might change their currency holdings.
What is a balance sheet?Financial accounting summarizes the financial balances of an organization, whether it is a sole proprietorship, business partnership, corporation, private limited company, or another type of institution like the government or a not-for-profit, on a balance sheet. Assets are listed on the left side of a balance sheet for a business, while financing—which is broken down into obligations and ownership equity—is listed on the right. Most frequently, the key kinds of assets are grouped in ascending order of liquidity. The calculation for the balance sheet can also be thought of as total assets equal to liabilities plus owner's equity. Balance sheets typically have two columns: one for assets, the other for obligations and net value, with the two columns "balancing."
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question content area norfolk sporting goods purchases merchandise with a catalog list price of $30,000. the retailer receives a 30% trade discount and credit terms of 2/10, n/30. what amount should norfolk debit to the inventory account? a.$30,000 b.$21,000 c.$29,400 d.$20,580
The retailer gets a 30% trade discount and credit terms of 2/10, n/30. Norfolk should debit the Inventory account for $20,580. Here option D is the correct answer.
The financial plan that is anticipated to be acquired in the accounting period is referred to as a merchandise buy. The management want to acquire this financial budget for the forthcoming season of the year.
The trade discount will be multiplied by $30000 to arrive at $9000, which will be used to calculate the amount that will be debited to the inventory account. The $30000 list price would be deducted in this instance. The result of multiplying $21000 by the credit account will be a final sum of $420. This would be deducted by $21,000, leaving a $20580 negative on the inventory account.
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you need to send an informational report to your supervisor updating him on the status of your consulting project. which report format would be most appropriate in this situation? letter format formal report manuscript format e-mail or memo format
A formal Report would be most appropriate in this situation. An official report that includes the thorough information, analysis, and statistics needed to make business choices is referred to as a formal report.
Typically, the goal of this report is to address an issue. Official reports can be, for instance: Reports on Inspection. Formal reports should be written in a formal corporate tone, without using excessive jargon or slang, and should be precise and succinct. Planning and rhetorical awareness—knowing the aim, audience, stakeholders, and context—are essential when drafting a formal report. The paper is checked for spelling and grammar issues during proofreading.
Research reports, proposals, feasibility studies, business plans, compliance reports, and monthly reports are examples of standard reports. While analytical reports draw findings and make suggestions based on data analysis, informational reports simply convey information.
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what are the three (3) elements that must be met before directors or officers may be found to have usurped a corporate opportunity?
Before directors or officers can be found to have usurped a corporate opportunity, conditions must be met: the opportunity was presented to the director or officer in his or her corporate capacity, and the opportunity is related to or connected with the corporation's current or proposed business.
Usurpation of real property rights or occupation of real property, as defined in Penal Code Article 312.
If an officer or director of a corporation is presented with a business opportunity in the same or a related business to the one in which the corporation is involved, they cannot simply pursue that opportunity for personal gain.
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The government has many obligations to provide services to its tax-paying citizens. If you were in Congress, how
would you balance the need for the government to spend money on necessary things with a prudent approach to controlling the debt and the deficit? Use examples in your answer.
A government is considered to have a budget surplus if it raises more revenue through taxes than it spends. A budget that is balanced means that taxes and spending are equal. The government debt is the total of all prior surpluses and deficits.
What is Budget surplus?A budget surplus occurs when income exceeds expenses. The term is commonly used to describe a government's financial status since citizens have "savings" instead of a "budget surplus." A surplus is evidence of a government's capacity to manage its finances appropriately.
Example,
A resource or good is said to have a surplus if there is more than is presently being utilized. A surplus can refer to a variety of items, such as cash, goods, assets, and earnings. A surplus in the sense of inventory refers to items that remain on store shelves but have not yet been purchased.
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for wholesalers and retailers what approximate percentage of the cost of finished goods comes from purchased inventories?
for retailers and wholesalers About 90% of the price of completed items is derived from bought stocks.
What are the top 3 company cost?Direct materials, production overhead, and overhead are the three main types of expenditures that are accounted for during the manufacturing process. There are a couple exceptions, as certain automated manufacturing firms are not subject to direct labor expenses, while other service sectors don't incur direct material costs.
What does cost in business mean?Cost is the dollar amount spent by a business to produce or provide goods or services. It excludes the profit margin markup. Cost is the sum of money spent on making a thing or product, as seen from the seller's perspective.
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rawlings purchased a typewriter from kroll typewriter co. for $600. at the time of the purchase, he made an initial payment of $75 and agreed to pay the balance in monthly installments. a security agreement that complied with the ucc was prepared, but no financing statement was ever filed for the transaction. rawlings, at a time when he still owed a balance on the typewriter and without the consent of kroll, sold the typewriter to a neighbor. the neighbor, who had no knowledge of the security interest, used the typewriter in her home. could kroll repossess the typewriter from the neighbor
Kroll cannot repossess the typewriter from the neighbor.
A typewriter is a machine designed to type on paper rather than handwriting. There are keys for entering letters, numbers, and symbols simultaneously. The typewriter was made in 1829. Typewriters were originally invented to speed up writing and printing.
The typewriter facilitated the spread of organizational management by reducing the time and cost of writing documents. It enabled the communication systems that shape the business world. The use of typewriters is increasing because the work done by them is accurate, clean, and fast. Your work will look better and work faster. It also creates clean, readable writing and facilitates copy counts.
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matching question match the method of depreciation to the respective definition. declining balance declining balance drop zone empty. straight-line straight-line drop zone empty. units-of-production
The method of depreciation to the respective definition declining balance drop zone empty straight-line.
In accountancy, depreciation is a time period that refers to two aspects of the same concept: first, the real lower of fair fee of an asset, such as the lower in price of manufacturing facility device each yr as its miles used and wear, and second, the allocation in accounting statements of the original value of the property to durations wherein the property are used (depreciation with the matching principle). Depreciation is hence the decrease inside the cost of belongings and the technique used to reallocate, or "write down" the value of a tangible asset (inclusive of system) over its useful existence span.
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Suppose Shen is the only seller in the market for bottled water and Manuel is the only buyer. The following lists show the value Manuel places on a bottle of water and the cost Shen incurs to produce each bottle of water:
Manuel's Value -------------------------- Shen's Costs
Value of first bottle: $7 ------------- Cost of first bottle: $1
Value of second bottle: $5 ------- Cost of second bottle: $3
Value of third bottle: $3 ------------ Cost of third bottle: $5
Value of fourth bottle: $1 ---------- Cost of fourth bottle: $7
The following table shows their respective supply and demand schedules:
Price ------------ Quantity Supplied --------- Quantity Demanded
More than $7 ----------- 4 ----------------------------- 0
$5 to $7 ----------------- 3 ----------------------------- 1
$3 to $5 ----------------- 2 ----------------------------- 2
$1 to $3 ------------------ 1 ----------------------------- 3
$1 or less ---------------- 0 ----------------------------- 4
Use Shen's supply schedule and Manuel's demand schedule to find the quantity supplied and quantity demanded at prices of $2, $4, and $6. Enter these values in the following table.
Price ----------- Quantity Supplied ---------- Quantity Demanded
2 ------------------------- ? ----------------------------- ?
4 ------------------------- ? ----------------------------- ?
6 ------------------------- ? ----------------------------- ?
A price of _____ brings supply and demand into equilibrium.
At the equilibrium price, consumer surplus is $___, producer surplus is $___, and total surplus is $___.
If Shen produced and Manuel consumed one less bottle of water, total surplus would _____.
If instead, Shen produced and Manuel consumed one additional bottle of water, total surplus would _____.
Price ------ Quantity Supplied ----- Quantity Demanded
2 --------------------- 1 ------------------------- 3
4 --------------------- 2 ------------------------ 2
6 --------------------- 3 ------------------------ 1
4 (quantity supplied = quantity demanded = 2)
4 ($7>$4 and $5>$4, $3<$4<$5, area above price line but under curve if price line was at $4, $7-$4=$3, $5-$4=$1, $3+$1=$4); 4 ($1<$4 and $3<$4, $3<$4<$5, area below price line and under curve if price line at $4, $4-$1=$3, $4-$3=$1, $3+$1=$4); 8 ($4 from consumer surplus + $4 from producer surplus)
fall (equilibrium = 2, 2-1=1, Shen: quantity supplied = 1 -> $2, Manuel: quantity demanded = 1 -> $6, total surplus = producer surplus + consumer surplus = ($4-$1)+($7-$4)=$6, $8>$6)
rise (equilibrium = 2, 2+1=3, Manuel: quantity demanded = 3 -> $2, Shen: quantity supplied = 3 -> $6, total surplus = consumer surplus + producer surplus = ($3-$2)+($7-$6)=$2, $8>$2, $6>$2)
Use Shen's supply schedule and Manuel's demand schedule to find the quantity supplied and quantity demanded at prices of $2, $4, and $6 is 1,2,3 & 4,2,1 respectively & equilibrium price is $4.
What is price equilibrium?A market-clearing price, often referred to as an equilibrium price, is the consumer cost associated with a good or service when supply and demand are equal or nearly equal. The manufacturer or vendor is free to transfer as many units as they like, and the consumer is free to access as many units as they like.
To understand well look at schedules given by Shen & Manuel:
Respective Supply and Demand Schedules
Price ------------ Quantity Supplied --------- Quantity Demanded
0-$1 0 4
$1-$3 1 3
$3-$5 2 2
$5-$7 3 1
$7-Above 4 0
Statement for Ascertaining values
Price ----------- Quantity Supplied ---------- Quantity Demanded
$2 ----------------------------1 ---------------------------------4
$4 --------------------------- 2 --------------------------------2
$6 ----------------------------3 ---------------------------------1
Thus the equilibrium price is $ 4 where quantity supplied is equal to quantity demanded.
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During the meeting, kristof asked, "where is the product typically bought by customers in the international market segments?" what element of the marketing mix is he addressing?.
He addresses the distribution strategy of the marketing mix in this segment.
What is International market segmentation?International market segmentation was based only on environmental considerations. suggests that important markets be grouped by international marketers using both sustainability and marketing successful strategies.
Creating a successful distribution channel is figuring out how to get your business's products or services out there. This kind of strategy aims to increase profits while retaining faithful clients.
Kristof questioned where the product was frequently purchased by clients in the global market sectors at the conference. A path that directs the shipment of goods and services through manufacturers to customers made up of intermediates is referred to as a channel of distribution.
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