Answer:
True. A proper voucher system demands that all expenditures, regardless of purpose or quantity, be explicitly approved for payment before they may be paid. The voucher system's objective is to create a control mechanism that guarantees all expenses are properly authorised and recorded before being paid. The voucher system normally entails the creation of a voucher, which is a document that summarises the specifics of the spending and allows for payment approval and monitoring. Before payment can be issued, the voucher must be authorized by the proper persons within the organisation, such as the department manager and the finance or accounting department.
True, a true voucher system requires that all expenditures for whatever purpose and in excess of a certain dollar amount be formally approved for payment before they can be paid.
This process helps to maintain control over expenses and ensures that all payments are properly documented and authorized. A voucher system is a method for authorizing the disbursement of cash. A voucher is filled out that identifies what is to be paid for, the amount to be paid, and the account number to be charged. Once this voucher is approved, the disbursement system is authorized to issue payment. Thus, a voucher system is a control used to ensure that cash is only spent on authorized purchases.
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With respect to the benefits of clean air and water, which of the following would most likely be classified as being relatively easy to value in economic terms?
a. gains in farming, fishing and tourism
b. gains from lower levels of corrosion
c. gains in environment enjoyment
d. all of the above are correct answers
Gains in farming, fishing and tourism is most likely be classified as being relatively easy to value in economic terms.
Farming, fishing, and tourism industries are directly tied to the health of the environment and clean air and water, and their economic value can be easily measured and quantified. While gains from lower levels of corrosion and environment enjoyment also have economic benefits, they may be more difficult to value and quantify.
For example, industries such as healthcare or education provide important benefits to society, but it can be challenging to measure the economic value of these services. By contrast, gains in farming, fishing, and tourism are relatively easy to measure because they typically involve the exchange of goods or services for money. Therefore, these industries play an important role in many economies because of their ability to generate tangible economic benefits and provide a basis for economic growth.
Thus, the answer is a. gains in farming, fishing, and tourism.
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Suppose the local market for pizza is a perfectly competitive market. The total cost function for Peter Pizza, a typical pizzeria, is C = 1200 - 12q2 + 2q". a. b. Find the marginal cost and the average cost functions. Show your steps. (3 marks) Using the results in (a), find the efficient scale of Peter Pizza. Show your steps. (3 marks) If the market price of pizza is $120, find the profit maximizing output level and the corresponding profit of Peter Pizza. Show your steps clearly. (4 marks)
Marginal cost and average cost functions are -24q + 2 and 1200/q - 12q + 2 respectively. Efficient scale of Peter pizza is 5 + 5√2, the profit-maximizing output level is 5 pizzas and there is no profit.
a) Marginal cost (MC) can be found by taking the derivative of the total cost function with respect to quantity (q):
MC = dC/dq = -24q + 2
Average cost (AC) can be found by dividing total cost by quantity:
AC = C/q = (1200 - 12q^2 + 2q) / q = 1200/q - 12q + 2
b) The efficient scale is the level of output at which average cost is minimized, or where MC = AC. Setting MC = AC:
-24q + 2 = 1200/q - 12q + 2
Rearranging and solving for q:
-12q^2 + 120q - 1200 = 0
Dividing by -12:
q^2 - 10q + 100 = 0
Using the quadratic formula:
q = (10 ± √(100 - 4(1)(100))) / 2 = 5 ± 5√2
Since quantity cannot be negative, the efficient scale is q = 5 + 5√2.
c)
To find the profit-maximizing output level, we need to find where marginal revenue (MR) equals MC. In a perfectly competitive market, price equals marginal revenue, so we can use the given price of $120 as MR:
120 = -24q + 2
Solving for q:
q = 5
This is less than the efficient scale, so Peter Pizza should produce 5 pizzas.
To find profit, we need to subtract total cost from total revenue:
TR = P × q = $120 × 5 = $600
TC = 1200 - 12(5^2) + 2(5) = $650
Profit = TR - TC = $600 - $650 = -$50
Since profit is negative, Peter Pizza is not making a profit at this output level in a perfectly competitive market.
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In which phases of the new products process is the first formal type of assessment done on new product concepts with regard to financial, technical, and marketing criteria?
The first formal type of assessment of new product concepts is typically done in the screening phase of the new product development process.
During this phase, potential new product ideas are evaluated against financial, technical, and marketing criteria to determine if they are viable options for further development. This involves analyzing the potential profitability and return on investment of the product, as well as assessing the technical feasibility and any potential obstacles that may arise. Additionally, the marketing potential of the product is evaluated, including target audience, competition, and potential market size. The screening phase is an essential part of the new product development process as it helps companies to weed out unfeasible product ideas and focus on those with the highest potential for success.
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4. A City Administration has provided the following information related to their activity to various government funds. Required: - a. Prepare Statement of Revenues, Expenditure and Changes in Fund Balance and
b. Prepare Statement of Net Assets/Balance Sheet. Transactions
Received State Grant for the improvement of the sewage system of the city OMR 450,000 The City also issued operational bonds to the value of OMR 60,000 to finance its general operating expenditure at a premium of 10%.
Purchased office supplies OMR 28,000 for which payment is made immediately against the vouchers produced Transferred OMR 75,000 to establish a service center to provide support to other departments.
General operating expenditure incurred OMR 29,000 and paid OMR 25,500. Issued OMR 75,000 long term development bond, the fund to be utilized for construction of a Convention Hall and must be used for this specific purpose at a premium of 2.5% The City placed order for machines to be utilized at the service center for OMR 26,000 to be supplied in 3 months. Using the Developmental Bond issue proceeds, the City constructed the Convention Hall by spending OMR 66,000 Using the State Grant, the City renovated the sewage system OMR 300,000 The service department billed the General Fund for providing services OMR 18,000 The City levied OMR 600,000 of general property taxes of which it actually collected OMR 480,000.
The financial statements provide a snapshot of the City Administration's financial position and activity during the period, and they help stakeholders understand the resources and obligations of each fund.
The City Administration provided information related to their activity to various government funds, including the General Fund, the Service Center Fund, and the Long Term Development Fund. Based on the information provided, we prepared two financial statements: a Statement of Revenues, Expenditure and Changes in Fund Balance and a Statement of Net Assets/Balance Sheet.
The Statement of Revenues, Expenditure and Changes in Fund Balance shows the inflows and outflows of each fund and the resulting changes in fund balances. It is a summary of the fund's financial activity during the period. In this case, we see that the City received a State Grant of OMR 450,000 for the improvement of the sewage system and levied OMR 600,000 of general property taxes, of which it collected OMR 480,000. The City also incurred various expenditures, including OMR 29,000 in general operating expenses, OMR 28,000 in office supplies, and OMR 66,000 in the construction of the Convention Hall using the Long Term Development Fund. The City also transferred OMR 75,000 to establish a service center to provide support to other departments and provided services to the General Fund for OMR 18,000. At the end of the period, the Statement of Revenues, Expenditure and Changes in Fund Balance shows the fund balances for each fund, which represent the excess of revenues over expenditures.
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Calculate the number of containers needed in a Kanban System given the following: Demand rate = 13 parts per hour, Safety stock required - 18% Container size = 14 parts, Time to cycle through entire system = 8 hours A. 7 B. 9 C. 6 D. 5
Since we cannot have a fraction of a container, we need to round up to the nearest whole number. The answer is B. 9 containers are needed in the Kanban System.
To calculate the number of containers needed in a Kanban System, we can use the formula:
Number of Containers = (Demand Rate x Time to Cycle through System) + Safety Stock Required) / Container Size
Plugging in the given values, we get:
Number of Containers = (13 parts per hour x 8 hours + 18%) / 14 parts
Number of Containers = (104 parts + 18%) / 14 parts
Number of Containers = 122.32 / 14 parts
Number of Containers ≈ 8.74
Since we cannot have a fraction of a container, we need to round up to the nearest whole number. Therefore, the answer is B. 9 containers are needed in the Kanban System.
We cannot have a fraction of a container, we need to round up to the nearest whole number. Therefore, the answer is B. 9 containers are needed in the Kanban System.
To calculate the number of containers needed in a Kanban System, we can use the formula:
Number of Containers = (Demand Rate x Time to Cycle through System) + Safety Stock Required) / Container Size
Plugging in the given values, we get:
Number of Containers = (13 parts per hour x 8 hours + 18%) / 14 parts
Number of Containers = (104 parts + 18%) / 14 parts
Number of Containers = 122.32 / 14 parts
Number of Containers ≈ 8.74
Since we cannot have a fraction of a container, we need to round up to the nearest whole number. Therefore, the answer is B. 9 containers are needed in the Kanban System.
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Logistics involves planning, implementing, and controlling the flow of final goods to their destination to satisfy customers, and it must do all of this while still ensuring a for companies.
a. True
b. False
The statement provided in your question is false. While logistics does involve planning, implementing, and controlling the flow of final goods to their destination to satisfy customers, it is not solely focused on customer satisfaction.
Logistics also plays a crucial role in ensuring that companies maintain profitability and efficiency in their operations. This involves managing inventory levels, minimizing transportation costs, and optimizing supply chain processes. In short, logistics aims to find the most cost-effective and efficient ways to move goods from point A to point B. Therefore, while customer satisfaction is certainly a crucial component of logistics, it is not the only consideration. Companies must balance the needs of their customers with the practical realities of running a profitable and efficient operation.
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true/false. being separately identifiable in the contract requires that the goods or services are multiple choice question. highly interrelated with other goods or services in the contract a non-essential part of the whole contract provided individually from other goods or services an essential part of the whole contract
False. Being separately identifiable in the contract means that the goods or services can be distinctly identified and measured in the contract.
It does not necessarily mean that they are non-essential or provided individually from other goods or services.
Separately identifiable goods or services may still be highly interrelated with other goods or services in the contract, and may be essential or non-essential parts of the whole contract.
For example, a software license may be separately identifiable in a contract but still be an essential part of a larger project or service.
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explain the theory that crowding out can weaken or nullify the effect of expansionary fiscal policy financed by federal government borrowing.
The theory of crowding out suggests that when the government engages in expansionary fiscal policy financed by borrowing, it increases the demand for loanable funds in the economy, which can cause interest rates to rise. Higher interest rates can then lead to a decrease in private investment, as businesses and individuals find it more expensive to borrow money.
In other words, if the government borrows a significant amount of money to finance its expansionary fiscal policy, it may end up competing with private borrowers for the same funds. This can drive up interest rates and make it more difficult or expensive for private businesses and individuals to obtain loans. As a result, private investment may decrease, reducing the potential impact of the government's expansionary fiscal policy. Thus, while expansionary fiscal policy may be an effective tool for stimulating the economy, its impact may be weakened or nullified if the government relies too heavily on borrowing to finance it.
The crowding-out theory suggests that expansionary fiscal policy financed by federal government borrowing can weaken or nullify its intended effects. Here's a step-by-step explanation of the theory:
1. Expansionary fiscal policy: This refers to government actions such as increasing government spending or cutting taxes to stimulate economic growth.
2. Government borrowing: To finance expansionary fiscal policy, the government may need to borrow money by issuing bonds or taking loans, increasing its debt.
3. Crowding-out effect: As the government increases borrowing, it competes with the private sector for available funds, leading to higher interest rates.
4. Higher interest rates: The rise in interest rates makes borrowing more expensive for businesses and consumers, which can discourage investment and spending.
5. Weakening of expansionary fiscal policy: The higher interest rates caused by government borrowing can offset the intended economic stimulus from increased government spending or tax cuts, leading to a weaker or even nullified effect of the expansionary fiscal policy.
In conclusion, the crowding-out theory posits that government borrowing to finance expansionary fiscal policy can lead to higher interest rates, which can, in turn, discourage private sector spending and investment. This can ultimately weaken or nullify the intended effects of the expansionary fiscal policy.
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Discuss the various categories
of inventory items
There are various categories of inventory items, which are classified based on their nature, usage, and other relevant factors. Here are some of the commonly used categories of inventory items:
1. Finished goods: These are the final products that are ready for sale to customers. Examples include cars, electronics, furniture, and clothing.
2. Safety stock: This is the inventory that is kept on hand to ensure that production can continue even if there are unexpected disruptions in the supply chain.
3. Raw materials: These are the basic materials that are used to create finished goods. Examples include wood, steel, cotton, and chemicals.
4. Maintenance, repair, and operating (MRO) inventory: These are the items that are necessary to keep the production process running smoothly.
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a customer purchases securities on april 30th, 2023. the securities apperciatre and the customer wants to donate securities to get a tax deduction
If a customer purchases securities on April 30th, 2023, and those securities appreciate, they may be able to donate them to a qualified charitable organization to receive a tax deduction.
The donation must be made by December 31st of the same year to qualify for that year's tax deduction. The customer can receive a tax deduction for the fair market value of the donated securities on the date of the donation rather than on a cost basis. This can be a more tax-efficient way to donate appreciated securities than selling them and donating the cash proceeds. It's important to consult with a tax professional to ensure that all requirements are met and to maximize the tax benefits of the donation.Learn more about tax deductions: https://brainly.com/question/29454543
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all of the following will be required for service providers to compete in the future except
In the future, service providers will face stiff competition as customers demand better services and products. To remain relevant, service providers will need to adapt to changing customer needs, embrace technology, and focus on innovation. However, not all things will be required for service providers to compete in the future.
Firstly, service providers will need to focus on providing excellent customer service. This means being responsive to customer needs and concerns, providing timely and accurate information, and going above and beyond to ensure customer satisfaction. Service providers that fail to prioritize customer service will struggle to compete in the future.
Secondly, service providers will need to embrace technology to remain competitive. This means investing in new technologies that enable them to provide better services, streamline operations, and improve customer experiences. For example, service providers could invest in chatbots, AI, and automation to reduce response times, improve accuracy, and save costs.
Lastly, service providers will need to focus on innovation. This means developing new products, services, and solutions that meet customer needs and exceed expectations. Service providers that fail to innovate risk falling behind competitors and losing market share.
In conclusion, all of the above factors are crucial for service providers to compete in the future. However, one thing that will not be required for service providers to compete in the future is a reliance on traditional advertising and marketing strategies. In today's digital age, service providers can use social media, influencer marketing, and other digital marketing strategies to reach new customers and promote their products and services.
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QUESTION 6 1 points Swell Computers has 12 obsolete computers that are carried in its inventory at a cost of $13,200. If these computers are upgraded at a cost of $7,500, they could be sold for $15,300 Alternatively, the computers could be sold "as is" for $9,000 What is the net advantage or disadvantage of upgrading the computers? A $1,200 disadvantage B. $5,400 disadvantage C.$3,000 advantage D.$6 300 advantage
The net disadvantage of upgrading the computers is a $1,200 disadvantage (option A).
The net advantage or disadvantage of upgrading the computers can be calculated by comparing the cost of upgrading and selling the computers to the potential revenue from selling them "as is."
Upgrading the computers would cost $7,500, and selling them after the upgrade would generate revenue of $15,300.
Selling the computers "as is" would generate revenue of $9,000.
To calculate the net advantage or disadvantage, we need to subtract the costs from the revenue:
Revenue from upgraded computers: $15,300
Cost of upgrading computers: -$7,500
Net revenue from upgraded computers: $7,800
Revenue from selling "as is": $9,000
Net advantage or disadvantage:
Net revenue from upgraded computers - Revenue from selling "as is":
$7,800 - $9,000 = -$1,200
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A bank offers auto loans to qualified customers. The amount of the loans are normally distributed and have a known population standard deviation of 4 thousand dollars and an unknown population mean. A random sample of 22 loans is taken and gives a sample mean of 42 thousand dollars.
Find the margin of error for the confidence interval for the population mean with a 90% confidence level.
z0.10 z0.05 z0.025 z0.01 z0.005
1.282 1.645 1.960 2.326 2.576
To find the margin of error for the confidence interval, we need to use the formula:
Margin of error = z* (standard deviation / square root of sample size)
First, we need to find the value of z for a 90% confidence level. From the table given, we can see that the z-value for a 90% confidence level is 1.645.
Now we can plug in the values given:
Margin of error = 1.645 * (4 / sqrt(22))
Margin of error = 1.645 * 0.852
Margin of error = 1.405
Therefore, the margin of error for the confidence interval for the population mean with a 90% confidence level is $1,405.
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5A. Define "The New Deal".
5B. State the President who initiated the public policy of The
New Deal.
5C. State the decade during which the public policy of The New
Deal was enacted.
5D. List eight
The New Deal was a series of public policies, programs, and reforms enacted to address the economic and social issues resulting from the Great Depression
5A. The New Deal was a series of public policies and programs enacted by the US government in the 1930s to address the economic and social effects of the Great Depression.
5B. The President who initiated the public policy of The New Deal was Franklin D. Roosevelt.
5C. The public policy of The New Deal was enacted during the decade of the 1930s.
5D. Here are eight programs/policies enacted under The New Deal:
1. Civilian Conservation Corps (CCC)
2. Federal Emergency Relief Administration (FERA)
3. Civil Works Administration (CWA)
4. National Industrial Recovery Act (NIRA)
5. Agricultural Adjustment Act (AAA)
6. Tennessee Valley Authority (TVA)
7. Works Progress Administration (WPA)
8. Social Security Act
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Question 15 (1 point) In relation to the dividend discount model (DDM) for valuing shares, which one of the following statements is FALSE? 2
A) The DDM is not suitable for valuing firms that do not pay dividends
B) The DDM tends to overestimate share price
C) It is based on a well-accepted valuation method
D) The accuracy of the estimated share price is dependent on the accuracy of the forecasts of the model inputs
The DDM assumes that future dividends will grow at a constant rate indefinitely, which may not always be the case, leading to potential overestimation of the share price.
However, the accuracy of the estimated share price is dependent on the accuracy of the forecasts of the model inputs, and the DDM is a well-accepted valuation method. Additionally, the DDM is not suitable for valuing firms that do not pay dividends.The false statement is C) It is based on a well-accepted valuation method. While the DDM is a commonly used method for valuing stocks, it is not universally accepted and has its limitations.
Some criticisms of the DDM include that it relies heavily on assumptions about future dividend payments and growth rates, and that it does not account for other factors that can affect a stock's value, such as changes in interest rates or market conditions.
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A Niche Differentiator, High Tech focus:A) Performs in all five segmentsb) Relies on product launches and positioningc) Relies on being price consciousd) Finances growth through bank loanse) None of these answers is correct
The correct answer is None of these answers is correct. A Niche Differentiator, High Tech focus is a strategy that focuses on developing and marketing products or services that are unique and distinct from competitors.
This strategy requires companies to find a way to differentiate their products or services from their competitors. The differentiation can come from unique features, pricing, or a unique market segment.
Companies employing this strategy rely on product launches and positioning in order to differentiate their product from their competitors. They also need to be price conscious in order to remain competitive, but not so price conscious that they sacrifice quality or features.
As companies implementing this strategy grow, they may look to finance growth through bank loans or investment, but this is not a requirement of the strategy.
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The Perch Falls Minor Hockey Association was established in Perch Falls in January, Year 5. Its mandate is to promote recreational hockey in the small community of Perch Falls. With the support of the provincial government, local business people, and many individuals, the association raised sufficient funds to build an indoor hockey arena, and it also established an endowment fund for paying travel costs to tournaments on an annual basis.
The following schedule summarizes the cash flows for the year ended December 31, Year 5.
PERCH FALLS MINOR HOCKEY ASSOCIATION
($000s)
Operating fund Capital fund Endowment fund Cash inflows: Government grant for operating costs $ 45 Government grant for hockey arena $ 400 Corporate donations for hockey arena 200 Registration fees 20 Contribution for tournaments $ 35.0 Rental of hockey arena 40 Interest received 2.1 105 600 37.1 Cash outflows: Operating expenses 102 Construction of hockey arena 600 Purchase of corporate bonds 35.0 Travel costs for tournament 2.1 102 600 37.1 Cash, end of year $ 3 $ 0 $ 0 Additional Information
The Perch Falls Minor Hockey Association was established in Year 5 with the goal of promoting recreational hockey in the small community of Perch Falls.
To achieve this mandate, the association raised funds from the provincial government, local businesses, and individuals. With this support, they were able to build an indoor hockey arena and establish an endowment fund for paying travel costs to tournaments on an annual basis.
The cash flows for the year ended December 31, Year 5, are summarized in the following schedule. The association received $45,000 from the government for operating costs and $400,000 for the construction of the hockey arena. Additionally, they received $200,000 in corporate donations for the arena, $20,000 in registration fees, and $35,000 for tournament contributions. They also earned $40,000 from the rental of the arena and $2,100 in interest.
The association spent $102,000 on operating expenses, $600,000 on the construction of the hockey arena, and $35,000 on the purchase of corporate bonds. They also spent $2,100 on travel costs for tournaments.
At the end of the year, the association had $3,000 in the operating fund and no funds in the capital or endowment funds.
Overall, the Perch Falls Minor Hockey Association was able to successfully raise funds to achieve its mandate of promoting recreational hockey in the small community of Perch Falls. The establishment of the endowment fund will also help ensure that the association can continue to pay for travel costs to tournaments on an annual basis.
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a project has a 3-year life and requires equipment costing $34,000. the ocf is estimated at $16,000 annually. nwc of $3,500 is required over the project's life. what cash flows occur at time zero? select all that apply. multiple select question. -$34,000 -$3,500 $0 $16,000
The cash flows that occur at time zero for this project are the initial investment required to get the project started. In this case, the project requires equipment costing $34,000 and an initial investment in net working capital (NWC) of $3,500. The correct answer is option a and b.
The equipment cost of $34,000 is a cash outflow at time zero. This is because the project requires the purchase of equipment to get started.
The NWC of $3,500 is also a cash outflow at time zero. This is because the project requires an initial investment in NWC to finance the project's working capital needs.
There is no cash inflow at time zero, as the project has not yet started generating revenue. Therefore, the correct options are -$34,000 and -$3,500.
Overall, understanding the cash flows that occur at time zero is important for calculating the project's net present value (NPV) and determining whether the project is a good investment.
The correct answer is option a and b.
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Complete Question
a project has a 3-year life and requires equipment costing $34,000. the ocf is estimated at $16,000 annually. nwc of $3,500 is required over the project's life. what cash flows occur at time zero? select all that apply. multiple select question.
a. -$34,000
b. -$3,500
c. $0
d. $16,000
What is the independence of firms in a market?
The independence of firms in a market refers to the degree to which the actions of one firm in the market affect the behavior and profitability of other firms.
In a market where firms are independent, each firm is free to make its own decisions about pricing, production, and other strategic factors without considering the impact of those decisions on its competitors.
In a perfectly competitive market, for example, firms are completely independent because each firm is too small to affect the overall market price. Therefore, firms can set their prices based solely on their own costs and demand conditions.
In contrast, in a market with a small number of large firms, such as an oligopoly or a monopoly, the independence of firms is limited because each firm's actions can have a significant impact on the behavior and profitability of its competitors.
The degree of independence among firms in a market can have important implications for market outcomes, including pricing, production, and innovation.
When firms are independent, they are more likely to compete aggressively on price and to invest in new products and technologies in order to gain an advantage over their competitors. When firms are less independent, they may be more likely to collude or engage in other forms of strategic behavior in order to maintain their market power.
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(figure: the existential monopolist) use figure: the existential monopolist. if this market became perfectly competitive, total market output in the long run would be units, and the market price would be .
If this market became perfectly competitive, total market output in the long run would be the point where the demand curve intersects with the marginal cost curve, which is at the minimum point of the average total cost curve.
Using the figure of the existential monopolist, if this market became perfectly competitive, total market output in the long run would be determined by the intersection of the supply and demand curves. At this equilibrium point, the market price would be established, ensuring that the quantity demanded equals the quantity supplied. In a perfectly competitive market, firms would not have market power and would produce at the lowest point on their average cost curve, leading to allocative and productive efficiency. This is represented by the point where the supply curve intersects with the demand curve in the figure: the existential monopolist. The output at this point would be units, and the market price would be the intersection of the demand curve and the supply curve at that same point. In other words, the market would achieve allocative efficiency and produce the socially optimal level of output at the lowest possible price.
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price discrimination group of answer choices forces monopolies to charge a lower price as a result of government regulation. is an attempt by a monopoly to prevent some customers from purchasing its product by charging a high price. is an attempt by a monopoly to increases its profit by selling the same good to different customers at different prices. increases the consumer surplus associated with a monopolistic market.
The term that best fits the description of a monopoly increasing its profit by selling the same good to different customers at different prices is price discrimination.
This strategy allows a monopoly to charge higher prices to customers who are willing to pay more, while still attracting customers who are not willing to pay the higher price. Price discrimination can increase the consumer surplus associated with a monopolistic market, as it allows more customers to access the product at a lower price.
However, it can also be seen as an attempt by a monopoly to prevent some customers from purchasing its product by charging a high price.
However, government regulation may force monopolies to charge a lower price in order to prevent unfair pricing practices and promote competition.
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1. When the market mechanism is allowed to operate freely, prices will determine… (4 Marks)
a. Only the mix of output to be poduced and the resources to be used in the production process. b. Only the resources to be used in the production process and for whom the output is produced.
c. The mix of output to be produced, the resources to be used in the production process, and for whom the output is produced.
d. Only for whom the output is produced and the mix of output to be produced.
When the market mechanism is allowed to operate freely, prices will determine the mix of output to be produced, the resources to be used in the production process, and for whom the output is produced. This corresponds to option (c).
In a free market, prices act as signals to both producers and consumers. Producers decide which goods and services to produce based on the demand and prices they can fetch. Consumers make choices based on their preferences and the prices they can afford. This interaction leads to the determination of the mix of output produced.
The resources used in the production process are also determined by market prices. Producers seek to minimize their costs and maximize profits. Therefore, they will choose the most cost-effective resources for production, taking into account the prices of labor, raw materials, and other inputs.
Lastly, the allocation of the produced output to different individuals or groups in society is determined by their purchasing power. Those who can afford to buy a particular good or service will consume it, while those who cannot will have to choose other options. This allocation is directly influenced by the price mechanism.
In summary, when the market mechanism operates freely, prices play a crucial role in determining the mix of output, the resources used in production, and the allocation of output among consumers.
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a new vaccine offers protection against otitis media. administering the vaccine to 10,000,000 children under age 5 would reduce otitis media cases from 14,000,000 to 11,000,000. the vaccine costs $100 per patient. what is the cost per case avoided? group of answer choices $91 $333 $401 $615
If administering a new vaccine to 10 million children under 5 can decrease otitis media cases from 14 million to 11 million, at a cost of $100 per patient, then the cost per case avoided is $333.
To calculate the cost per case avoided, we need to determine the cost of vaccinating the children and the reduction in otitis media cases.
The cost of vaccinating 10,000,000 children at $100 per patient would be 10,000,000 * $100 = $1,000,000,000.
By administering the vaccine, the number of otitis media cases would be reduced from 14,000,000 to 11,000,000, resulting in a reduction of 14,000,000 - 11,000,000 = 3,000,000 cases.
To find the cost per case avoided, we divide the total cost of vaccination by the number of cases avoided. Therefore, $1,000,000,000 divided by 3,000,000 equals $333.
Hence, the cost per case avoided is $333.
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how should a business respond to negative comments that customers or employees post about the company on social media? (choose every correct answer.)
When a business receives negative comments on social media, it's essential to respond promptly and effectively to address the concerns and prevent further damage to the company's reputation.
Here are some steps to consider:
Respond Quickly: Responding quickly to negative comments shows customers that the company values their feedback and is committed to addressing their concerns. This also helps to prevent the negative comments from spreading.Apologize Sincerely: Apologize for any inconvenience or negative experience the customer or employee has had, and offer a sincere apology. This demonstrates empathy and shows that the company cares about the customer's experience.Address the Issue: Address the specific issue raised in the comment and provide information about how the company is going to resolve it. This can include offering a solution or explanation.Take it Offline: Offer to take the conversation offline to resolve the issue privately. This can help to prevent a public argument and also provide a more personalized solution to the problem.Learn from Feedback: Negative feedback can be an opportunity for a business to improve its products, services, or communication. Take feedback seriously and use it to improve the company's operations and customer experience.Monitor and Respond Regularly: Regularly monitoring social media channels for comments and responding promptly can help prevent negative comments from spreading and demonstrate a commitment to customer service.Remember that responding effectively to negative comments on social media can help maintain customer trust and loyalty, even in difficult situations.Learn more about social media here:
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open market operations are a. transactions in the foreign exchange market b. transactions in the market for goods and services in an open economy c. sales and purchases of securities by the central bank d. sales and purchases of stocks by brokerages
Open market operations refer to the sales and purchases of securities by the central bank to influence the money supply in the economy. The central bank buys securities, usually government bonds, from commercial banks, which increases the banks' reserves and allows them to lend more, increasing the money supply.
Conversely, the central bank sells securities to reduce the money supply.These operations have a significant impact on the economy, as changes in the money supply affect interest rates, inflation, and economic growth.
Open market operations are not transactions in the foreign exchange market or the market for goods and services in an open economy, nor are they sales and purchases of stocks by brokerages.
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the records a person or organization creates or receives and preserves because of their enduring value is called?
The term for records that are created or received and preserved by a person or organization because of their long-term value is called "archival records."
Here are some additional points about archival records:
Archival records are often created by governments, non-profit organizations, businesses, or individuals who want to preserve their history or document their activities.Archival records are different from records that are kept for daily business operations or legal requirements, which may have a shorter retention period and less historical value.Archival records are often organized and described in a way that makes them accessible to researchers and the general public, such as through finding aids or online databases.Archival records are documents that have permanent or enduring value for legal, historical, or research purposes, and they are preserved for future generations to access and study. Archival records can take many forms, including paper documents, photographs, audio recordings, and digital files, and they may be stored in specialized facilities such as archives or libraries.
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As the interest rate rises, the opportunity cost of holding money as cash rises sey This results in a money demand curve that is falls rises is unaffected As the interest rate rises, the opportunity cost of holding money as cash rises This results in a money demand curve that is vertical upward sloping downward sloping
As the interest rate rises, the opportunity cost of holding money as cash rises. This results in a money demand curve that falls and rises are unaffected.
The value of the best alternative foregone when, due to limited resources, a decision must be made between numerous mutually exclusive alternatives is known as the opportunity cost in microeconomic theory.
The value of the next-highest alternative use of a resource is referred to as its "opportunity cost" by economists. You cannot, for instance, read a book at home during the time you would have spent seeing a movie and spend the money you would have spent on something else.
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According to what we know from moral psychology, is it true that the ways situations are structured can lead ordinary people to do things that are morally wrong?
Yes, according to moral psychology, it is true that the way situations are structured can lead ordinary people to do things that are morally wrong.
Moral disengagement refers to the process by which individuals rationalize their morally wrong actions by justifying them, minimizing their consequences, or displacing responsibility onto others. This allows people to maintain their self-image as moral individuals while still engaging in immoral behavior.
Conformity plays a significant role in leading ordinary people to commit morally wrong actions. The pressure to conform to group norms or obey authority figures can cause individuals to override their moral beliefs and follow the actions of others, even if they are unethical. The famous Milgram experiment demonstrated this, where participants administered electric shocks to others under the orders of an authority figure, despite believing it was wrong.
The bystander effect is another psychological concept that explains how the presence of others can influence an individual's decision to act in a morally wrong manner. When individuals are part of a group, they may feel less personal responsibility for their actions and assume that someone else will intervene. This diffusion of responsibility can lead to inaction or even participation in immoral activities.
In summary, the structure of situations can significantly influence the moral behavior of ordinary people. Factors such as moral disengagement, conformity, and the bystander effect can lead individuals to act in ways that contradict their moral beliefs.
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why were the effects of previous economic downturns in u.s. history less severe than the effects of the great depression?
The effects of previous economic downturns in US history were less severe than the Great Depression because the government and financial institutions did not have the necessary tools and policies to mitigate the economic crisis.
During the Great Depression, the US government and financial institutions lacked the necessary tools and policies to stabilize the economy. The Federal Reserve, for example, did not act quickly enough to inject liquidity into the financial system, which exacerbated the crisis.
Additionally, the government's response was inadequate, and it took several years before significant actions were taken to stimulate the economy.
In contrast, after the Great Depression, policymakers implemented new policies such as deposit insurance and the creation of a social safety net to prevent future economic crises. These measures helped to stabilize the economy during subsequent downturns, making their effects less severe than the Great Depression.
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If you were interested in starting your own business and becoming an entrepreneur, what might your career path look like? Explain.
Answer:
Starting my business and becoming an entrepreneur can be an exciting and rewarding career path, but it also requires careful planning and hard work. Here are some steps I might take to pursue this career path:
Identify my interests and skills: I would think about what I am passionate about and what skills I have that could be applied to a business. I would consider what kind of industry or market I would like to work in.
Develop a business idea: Once I have identified my interests and skills, I would brainstorm business ideas that align with them. I would think about what products or services I could offer, who my target market would be, and how I could differentiate myself from competitors.
Conduct market research: Before investing time and resources into a business idea, it is important to conduct market research to validate the idea and understand the potential demand. This could involve surveys, focus groups, or analyzing existing market data.
Create a business plan: A business plan is a comprehensive document that outlines the goals, strategies, and financial projections for a business. This can help me organize my ideas and make a convincing case to potential investors or lenders.
Secure funding: Starting a business often requires financial investment. This could come from personal savings, loans, or investors.
Launch and grow my business: Once I have secured funding, it's time to launch my business. This could involve creating a website, setting up a physical location, and developing marketing strategies. As my business grows, I may need to hire employees, scale operations, and adapt to changing market conditions.
Continuously learn and adapt: Being an entrepreneur requires the ability to learn from successes and failures, adapt to changes in the market, and continuously improve my business strategies.
Overall, becoming an entrepreneur requires a combination of creativity, business acumen, and hard work. While there is no one "right" path to success, careful planning, market research, and a willingness to learn and adapt can help increase the likelihood of success.
Explanation: