Adam Smith's 10 pin workers were able to raise daily production of pins from 200 to 48,000 when they became more specialised. The growth in pin output can be attributed, in part, to the workers' increasing mastery of their individual tasks.
A worker is a person engaged in productive activities that support the flow of commodities and services through the economy. In other words, a worker is seen as an economic actor who boosts the GDP in a given year by contributing to the creation of products and services. Anyone who works is potentially a worker. The phrase frequently, but not always, refers to a worker in an industrial or manual vocation. In contrast, there are situations when we use the word in the same sense as "employee," as in the sentence "Apple Inc. has more than 123,000 workers." The phrase may also be used to describe someone from the working class.
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under a regressive tax system, a the marginal tax rate for high income taxpayers is higher than the marginal tax rate for low income taxpayers. b the marginal tax rate for high income taxpayers is the same as the marginal tax rate for low income taxpayers. c the marginal tax rate for high income taxpayers is lower than the marginal tax rate for low income taxpayers. d any of the above could be true under a regressive tax system. e none of the above could be true under a regressive tax system.
Under a regressive tax system, the marginal tax rate for high income taxpayers is lower than the marginal tax rate for low income taxpayers
What is regressive tax system?Regressive taxes are those that are applied consistently and which take a greater portion of income from low-income earners than from middle- and high-income earners. It is opposed to a progressive tax, which levies higher rates against high-income taxpayers. A regressive tax is one that becomes less onerous as income increases. A tax that is levied in a way that the tax rate drops as the amount subject to taxation rises is referred to as regressive. The term "regressive" refers to a distribution effect on income or spending that advances from high to low so that the average tax rate is higher than the marginal tax rate.To learn more about regressive tax system refer to;
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company x has variable costs per unit of $12, fixed costs of $292,500, and a break-even point in units of 58,500 units. if the sales price per unit decreases by $2 and the variable cost per unit decreases by $2, what would happen to the break-even point?
The break-even point would decrease as the company needs to sell 36,562.5 units to cover its fixed costs and make a profit.
To calculate the new break-even point:
Start with the original equation for the break-even point: (Fixed costs) / (Contribution margin per unit) = (Break-even point in units)
Substitute in the original values: $292,500 / ($20 - $12) = 58,500 units
Substitute in the new values for the sales price and variable cost per unit: $292,500 / ($18 - $10) = ?
Solve for the new break-even point: $292,500 / $8 = 36,562.5 units
So the new break-even point is 36,562.5 units. This means that the company needs to sell 36,562.5 units to cover its fixed costs and make a profit. This is a decrease from the original break-even point of 58,500 units.
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why does the author argue that enterprise integration is insufficient for future sustainability efforts?
The future of companies lies in sustainable business models. Create long-term value and generate profits while improving social and environmental conditions
Sustainability is a business approach that creates long-term value by considering how a particular organization functions in the environmental, social and economic environment. Sustainability is based on the assumption that developing such strategies promotes the longevity of the company
Sustainable companies cut costs
33% of companies have adopted sustainability strategies to improve operational efficiency and reduce costs. Against this backdrop, McKinsey says that efficiency improvements can increase operating profits by up to 60%.
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true or false? in most organizations, focusing on smaller issues rather than planning for the most wide-reaching disaster results in a more comprehensive disaster recovery plan.
In most organizations, focusing on smaller issues rather than planning for the most wide-reaching disaster results in a more comprehensive disaster recovery plan is false.
It is untrue that a disaster recovery plan outlines how the company intends to resume operations in the original location after a catastrophe. In reality, this kind of planning is known as an operational plan. The overall downtime that is known to occur as a result of a disaster can be reduced by regularly taking backups of important systems and data. Keep in mind that disaster recovery is crucial since it allows for the recovery of lost files. As a result, the following are crucial elements that are frequently seen as being the most crucial when planning for catastrophe and recovery: regular backups and an out-of-the-way backup position.
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Which section of a change order form would include the desired outcomes of a project?
Purpose of change
Scope of change
Backout plan
Risk analysis
The section of a change order form that would include the desired outcomes of a project is "Purpose of change" or "Scope of change".
The "Purpose of change" section would summarize the reason for the change and what benefits are expected to be achieved by implementing it. This section would include the goals and objectives of the change, how it aligns with the project's overall objectives, and how it will improve the project outcome.The "Scope of change" section would detail the specific changes that are being made to the project, including any changes to the project schedule, budget, deliverables, and other relevant details. This section would describe what will be done, when it will be done, and how it will be done.The "Backout plan" section is used to describe what actions will be taken to reverse the changes if they fail or cause unexpected problems.The "Risk analysis" section would be used to describe any risks associated with the change and how they will be mitigated. This section would identify potential risks, evaluate the likelihood and impact of each risk, and describe the actions that will be taken to minimize or eliminate the risk.
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why is it harder to estimate expenses than to estimate income?
A It is more difficult to predict expenses than it is to estimate income because expenses frequently change significantly from month to month.
Why should my expenses be considered?Giving each of your bills a weight makes it simpler to decide what needs to be paid now and what can wait. You may not always be able to afford new shoes or apparel, but you'll always be aware that your main objectives may be met.
What distinguishes revenues from operating costs?To evaluate whether a corporation is generating money or losing money, this method analyzes income and operational costs.
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a certificate of medical necessity should be kept in the business office. question 5 options: true false
A certificate of medical necessity should be kept in the business office is false.
What is business office?
Business office is a place where business activities take place. It is a part of an organization where activities like decision-making, planning, organizing, directing, controlling, and monitoring are done. A business office is typically the hub of the organization, where information is exchanged and communication between staff, customers and other entities takes place.
Medicare defines "medically required" as health care services or supplies that must fulfill recognized medical criteria in order to be used in the diagnosis or treatment of an illness, accident, condition, disease, or one of its symptoms. Each state's rules or regulations may define what constitutes "medical necessity" for Medicaid care.
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mauve inns has total assets of $913,600, total debt of $424,500, net sales of $848,600, and net income of $94,000. the tax rate is 21 percent and the dividend payout ratio is 30 percent. what is the firm's sustainable growth rate?
based on the specified 13%. what is the company's pace of sustainable growth.
How are growth rates determined?To calculate growth rates, divide the change between the starting and ending values for such period under study by the new value. The most frequent time intervals for growth rates are annually, annually, monthly, and weekly.
Where
Dividend payout ratio = 30%, or 0.30
Rate of dividend payout = 1 - retention rate = 0.30, for a total of 0.70.
Total assets minus total debt equal $913,600 minus $424,500, which is $489,100.
Return on equity is calculated as Net Earnings / Shareholder Equity, which is $94,000 / $489,100, or 0.19.
By changing the appropriate variables in equation (1), we obtain:
Sustainable growth rate is equal to 0.70 times 0.19, or 0.13, or 13%.
Therefore, the firm's sustainable growth rate is 13%.
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a chief information officer (cio) receives an email stating a dataspace will be encrypted within 24 hours unless a payment of $20,000 is credited to the account mentioned in the email. this best describes a scenario related to:
A chief information officer (CIO) receives an email stating a dataspace will be encrypted within 24 hours unless a payment of $20,000 is credited to the account mentioned in the email. This best describes a scenario related to whaling.
What tasks does a CIO perform every day?
A chief information officers (CIO) day is filled with juggling different priorities. Their job is to oversee daily operational tasks, strategic planning, many projects, and human resource management, including hiring, performance evaluations, and staff development.The chief information officer (CIO) is responsible for managing the IT organisation of a firm to provide results that support the company's objectives. A company's information and computer technology systems are managed and successfully implemented by a CIO, a senior executive.
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Six executives of Tyson Foods, one of the world's largest poultry, beef, and pork processors, were arrested for the illegal smuggling of undocumented foreign workers into the United States to work at Tyson plants. Based on this information, Tyson's violations may have been the result of ________, one of the major reasons some company employees engage in unethical behavior
Tyson's violations are the result of top management's behaviour, one of the major reasons why some companies fail to establish ethical behavior. The Tyson and other major producer scandals have demonstrated that vulnerable workers, abused animals, and a rigged system are the foundation of an unethical and destructive business model.
What is management's Behaviour ?The actions and conduct of managers are all included in manager behaviour. This includes the way they conduct themselves, treat others, and manage their teams.
Behaviour is an action exhibited towards others. The behavior of the person determines his quality. Good behaviour and manners demonstrate that a person is ethical.
Top management behaviour is exhibited by many of the top companies. They do this kind of actions to increase their companies market and their production.
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an agent of a broker-dealer who effects securities transactions that are not recorded on the books of the broker-dealer is defined as a(n): a agent b broker-dealer c issuer d investment adviser
An agent of a broker-dealer who effects securities transactions that are not recorded on the books of the broker-dealer is defined as an agent. Therefore option A is correct.
Who are Broker-Dealer Agent ?A practitioner who has certified with the Financial Industry Regulatory Authority (FINRA) in order to be given authorization to act on behalf of a wealth manager business in the acquisition and sale of securities is known as a broker-dealer agent. Stockbrokers, registered solicitors, and investment gurus are other names for broker-dealer agents. They are chargeable for giving clients investment management services and carrying out deals on their favor.
Finding potential clients, strengthening ties with them, and giving them details about various equity investments are all parts of a merchant agent's job description. To give their clients the most crucial data, they must also stay current with developments in the economy and financial markets. Broker-dealer personnel are required to uphold a fiduciary duty of care, which requires them to put the interests of their clients prior to their own.
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the federal arbitration act supports the enforcement of most private arbitration agreements. true false
The given statement is 'true'.
The majority of private arbitration agreements are upheld for execution under the federal arbitration statute.
What is the Federal Arbitration Act (FAA) & How does it affect the law in each state?The Federal Arbitration Act is known by this term in official documents. The United States Arbitration Act governs this. It has been around for a while. It was indeed passed on February 12, 1925. Because of this, some groups call the law the "Feb Act." The act is commonly referred to by its acronym, FAA. The act was intended to provide Congress with the authority to support private dispute resolution. In this manner, arbitration might replace a lot of US court proceedings. Both federal and state courts must comply with the Federal Arbitration Act. A ruling by the Supreme Court in Southland Corp. v. Keating Arbitral Tribunal upheld this idea.
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dilbert invests a total of $35,500 in two accounts. the first account earned a rate of return of 14% (after a year). however, the second account suffered a 10% loss in the same time period. at the end of one year, the total amount of money gained was $890.00. how much was invested into each account?
Dilbert, therefore, made an investment of $17,000 in the first account and $18,500 in the second account.
We can use the following equation to deal with this issue:
(1 + rate of account return 1) * Investment in Account 1 + (1 + Account 2's rate of return) * Account 2 investment equals total investment plus entire gain
We are aware that the total investment is $35,500, the first account's rate of return is 14% (represented as 0.14), and the second account's loss is 10% (expressed as -0.10). $890.00 is the total gain.
Inputting the predetermined values:
(1 + 0.14) * Deposit into Account 1 + (1 - 0.10) * Investment for account 2: 35500 plus 890
How to solve for the investment in account 1: (1.14) Investment in Account 1 plus Investment in Account 2 plus (0.90) = 36490.00To put it simply, the investment in account 1 plus 0.14 times the investment in account 1 equals 36490.0 minus 0.90 times the investment in account 2.
By isolating the variable, we can now solve for the investment in account 2.
investment in account 1 is equal to (1.14 / (36490 - 0.90 * investment in account 2)
This is what you need to substitute into the initial investment equation: 35500 = (36490 - 0.90 * investment in account 2) / 1.14 + investment in account 2.
When calculating the investment in account 2, the answer is $18,500.
This value can now be used to determine the investment in account 1:
$17,000 was invested in account 1.
Dilbert, therefore, made an investment of $17,000 in the first account and $18,500 in the second account.
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Becky had net sales (all on account) in 2017 of $820000. At December 31, 2017, before adjusting entries, the balances in selected accounts were: accounts receivable $1000000 debit, and allowance for doubtful accounts $2120 debit. Becky estimates that 2% of its accounts receivable will prove to be uncollectible. What is the net realizable value of the receivables reported on the financial statements at December 31, 2017
Net realizable value of the receivables to be reported on financial statements as at December 31, 2017 is $970,000.
What is financial statements?Financial statements are formal records of a business's, person's, or other entity's financial activities and position. Relevant financial data is presented in a structured and understandable format.
Compute allowance for doubtful accounts value as shown below:
Allowance for doubtful accounts = Accounts receivables × Estimated uncollectible percentage
⇒ $1,000,000 x 3%
= $30,000
Allowance for doubtful accounts is the estimated uncollectible amount; it should be deducted from the total accounts receivable in the balance sheet. Allowance for doubtful accounts is computed using the allowance for doubtful accounts formula. Substitute both the given values in the formula to get allowance for doubtful account value.
Use the net realizable formula to compute net realizable value and find correct option.
Compute net realizable value as shown below:
Net realizable value = Accounts receivables - Amount in Allowance for doubtful accounts
= $1,000,000-$30,000
= $970,000
Thus, Net realizable value of the receivables to be reported on financial statements as at December 31, 2017 is $970,000.
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m and m, incorporated produces a product that has a variable cost of $3.00 per unit. the company's fixed costs are $30,000. the product is sold for $5.00 per unit and the company desires to earn a target profit of $20,000. what is the amount of sales that will be necessary to earn the desired profit?
The amount of sales that will be necessary to earn the desired profit is $125,000.
Profit is the revenue generated by selling an item, which must be more than the item's cost. It is the gain from any type of commercial activity.
Desired profit:
Contribution margin ratio:
Contribution margin ratio=5-3/5
Contribution margin ratio=2/5
Contribution margin ratio=0.4
Desired profit= (Fixed costs + Target profit) / Contribution margin ratio
Desired profit=(30,000 + 20,000) / 0.4
Desired profit=50,000/0.5
Desired profit=$125,000
Therefore, the amount of sales that will be necessary to earn the desired profit is $125,000.
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what would the total project cost be above the $8 per hour they are currently paid to work 40 hours per week? the $8 an hour does not come out of your profit, only the extra money you will pay as an incentive, the additional cost of any overtime hours over 40 per week, and the cost of any other things such as lunches, dinners, snacks, or bonuses.
The total project cost above the $8 per hour that the workers are currently paid to work 40 hours per week is $610.
To calculate the total project cost above the $8 per hour that the workers are currently paid to work 40 hours per week, we will need to consider the following additional costs:
Incentive pay: If the workers are given an incentive pay of $10 per hour, the cost will be an additional $10 x 40 hours = $400 per week.
Overtime pay: If the workers work an additional 5 hours per week, the overtime pay will be $8 x 1.5 = $12 per hour. The cost of overtime pay will be $12 x 5 hours = $60 per week.
Meals and snacks: Let's say the cost of meals and snacks is $50 per week.
Bonuses: Let's say the cost of bonuses is $100 per week.
To calculate the total project cost, we will add up all the above costs:
$400 (Incentive pay) + $60 (Overtime pay) + $50 (Meals and snacks) + $100 (Bonuses) = $610
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Which statement is true based on Figure 4 in the article?
1: Apparel prices increased more than medical care prices.
2:Medical care prices increased at the same rate as computer prices.
3: Medical care prices increased while computer prices decreased.
4: The overall CPI is the same as the CPI for computers.
Medical care prices increased while computer prices decreased.
What is inflation? Inflation is an economic concept that describes an increase in the general price level of goods and services over a given period of time. Inflation is typically measured using the Consumer Price Index (CPI), which tracks changes in the prices of a basket of goods and services (including food, housing, clothing, transportation, and medical care) that are commonly purchased by households. When prices for these items rise, inflation has occurred. Inflation generally occurs when the demand for goods and services outstrips the available supply, leading to an increase in prices. It can also be caused by an increase in the money supply, which can lead to an increase in prices due to an increase in the amount of money being circulated. Inflation can have both positive and negative effects on an economy, depending on the rate at which it is occurring. High inflation can lead to a decrease in purchasing power, decrease in investment, and an increase in unemployment, while low inflation can lead to economic growth and increased purchasing power.To learn more about inflation rate refer to:
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when the insured selects the extended term nonforfeiture option, the cash value will be used to purchase term insurance with what face amount?
When the insured selects the extended term nonforfeiture option, the cash value will be used to purchase term insurance with an amount equal to the original face amount of the policy.
This means that the policyholder will not be subject to any reduction in the death benefit they were originally promised. It is important to note that the extended term nonforfeiture option may result in the policyholder having to pay higher premiums in order to keep the policy in force.
When the insured selects the extended term nonforfeiture option, the cash value will be used to purchase term insurance with a face amount equal to the cash value.
This option helps to ensure that the insured's beneficiaries are provided with the same death benefit that was originally purchased, even if the original policy has been surrendered or lapsed.
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A group of four friends spends a day at a local theme park, which has just opened a new attraction with very popular rides featuring new technology. They board one of the rides after waiting for over an hour in line, but about five minutes into the ride the electricity fails, and they are stuck on the ride for a half hour. When the ride finally resumes and concludes, they go to the theme park’s guest services department to complain.
What are the facts?
How does the guest feel?
How would you acknowledge the guest’s feelings?
What would be your solution?
How would you follow up with the guest?
firstly it was totally the system's fault because they can't take risks with electricity in a local theme park as it is a must factor. even if the incident occurred they must have a good backup.
we have already discussed the facts, it was very unpleasant for the guests as they came for enjoying the moment but wasted their time due to system failure and it was very disheartening for all the people gathered there.
acknowledging guests' feelings seems to be very disheartening as they suffered because of the department's negligence and everything that happened was unexpected.
the department should be aware of every basic facility present at that moment and must have options for immediate action if something happens.
based on the principles of the slii model, how would you describe the runners in group 1? what kind of leadership do they want from david, and what kind of leadership does david seem prepared to give them?
David doesn't seem willing to provide them with that level of leadership because he finds their inquiries and worries to be a little annoying.
What is meant by leadership?Leading a team or organisation is "the action of doing so." The Oxford Dictionary's definition of leadership is the same. Leadership is simply about taking chances and questioning the existing quo, to put it simply. He runs in Group 1. There are some newcomers to running who have never completed a marathon.
A low to moderate level of skill and a low level of dedication could be classified as characteristics of group 1 in the SLII paradigm (D2). They appear to be looking to David for the kind of leadership that demands both strong directives and strong supports in his teaching style. Unfortunately, David doesn't seem willing to provide them with that level of leadership because he finds their inquiries and worries to be a little annoying.
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discuss at least two benefits of incorporating enterprise risk management (erm) with strategy and strategy execution as discussed in the lego case. using information from the case, how does scenario analysis help the company to become better prepared for uncertainties? the case study focuses on four steps. explain each step and provide an example of each. the example can reflect information from the case or outside of the textbook. has the lego strategy worked? use examples inside and outside of the textbook to answer this question.
ERM supports higher structure, reporting, and analysis of risks. Standardized reviews that track business enterprise risks can improve the focal point of directors and executives with the aid of presenting records that permits better hazard mitigation decisions.
What are the blessings of integrating ERM with strategy and strategy execution?The first area of center of attention consists of enhancing its identification of possibilities and not simply the threats represented by using dangers recognized in the ERM process.
Further integration of ERM and strategy will permit dangers to commence to inform new strategic directions and initiatives that add price to the company.
What is the gain of enforcing business enterprise hazard administration ERM?ERM ensures you are placed to comply with reporting and other regulatory requirements. It offers you the data to exhibit compliance and the assurance that all threats are managed effectively, minimizing the chance of regulatory compliance breaches.
What is employer risk administration ERM and why it is important?Enterprise danger management (ERM) is a firm-wide method to perceive and prepare for risks with a company's finances, operations, and objectives. ERM permits managers to shape the firm's universal danger function by mandating sure business segments interact with or disengage from unique activities.
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the faster a company's business environment is changing, the more critical it becomes for its managers to
The faster a company's business environment is changing, the more critical it becomes for its managers to: pay attention to early warnings of future change and be willing to experiment to establish a market position in the future.
Market environment and business environment are phrases used in marketing to describe the dynamics and conditions that have an impact on a company's capacity to create and sustain fruitful client connections. The phrase "totality of physical and social elements that are directly taken into consideration in the decision-making behavior of individuals in the organization" is used to define the business environment.
The following are the three environmental levels:Internal environment: The organizational components used internally to develop, communicate, and deliver market offerings.
Local factors that affect its capacity to service its clients in the external micro environment.
External macroenvironment: the larger societal influences that influence an organization's ability to survive, such as the economic, political, cultural, environmental, and political environments as well as the demographic, cultural, and technological environments
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donalynn purchased a computer on a payment plan. two months after the purchase, the balance was $380. five months after the purchase, the balance was $155. write an equation, in slope-intercept form, that models the balance y after t months.
The fifteenth month is the one in which the balances of the two accounts are equal.
How can unknown values be found?
The problem's unknown values are discovered using algebraic expressions and unknown variables.
The two bank accounts' three-month balances are displayed in the table.
Month Account A Account B
0 $50 $155
1 $85 $365
2 $120 $380
Account A's balance is increasing by $35 per month. The balance in this account as of the nth month is as follows:
50+35n
Account B's balance is only increasing by $15 at this time. The balance in this account as of the nth month is as follows:
50+15n
Assume that Account A's balance is equal to Account B's balance in each case.
Allow Account A's balance to match Account B's balance in any given month. Thus,
50+35n=350+15n
20n=300
n=300/20
n=15
As a result, the 15th month is the one in which the balance of Account A equals the balance of Account B.
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Note: The correct question would be as bellow,
The table shows the balances of two bank accounts for 3 months. In what month will the balance of Account A be equal to the balance ofAccount B?
$350
Month Account A Account B
0
$50
1 $85
$365
2 $120
$380
Month
the massachusetts turnpike is a tolled freeway running through the state of massachusetts. motorists must pay tolls at various points along the turnpike based on the distance they traveled on the freeway. suppose that despite the tolls, many motorists in the urban areas use the turnpike causing traffic to slow during peak times. what type of good would the turnpike be classified as in this case?
For the sake of a safe driving test and a lifetime of walking, bicycling, and driving, please read the traffic regulations.
Which of these initiatives exemplifies how a government can influence the cost of a good by introducing externalities?Taxes. In order to combat externalities, taxes are one option. Governments can levy a tax on the products that cause externalities in order to assist lessen their detrimental consequences, such as pollution.
In marketplaces when there are externalities, when does the government intervene?Protecting the interests of bystanders is the main reason the government gets involved in markets with external costs. Any external benefit or cost that affects bystanders indirectly is referred to as an externality.
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sophia martin wants to travel around the world. sophia has three options she can pursue: she could continue to work full time to earn the money she needs for her trip, she could work part time so that she can still earn some money but have the time necessary to complete her trip, or she could take full retirement so that she has all the time necessary to complete her trip. which step in the financial planning process does this scenario demonstrate? multiple choice developing her financial goals determining her current financial situation implementing her financial plan evaluating her alternatives identifying alternative courses of action
13 popular financial goals
Build an emergency fund.
Set a budget.
Get out of savings card debt.
Improve a credit score.
Pay off a vehicle loan.
Save for a vacation.
Buy a home.
Pay off pupil loan debt.
What is the fundamental purpose of financial planning?Financial planning isn't just about investing; it is about what money can do for your confidence, security, and great of life—such as the safety that life insurance plan offers or the peace of mind that an emergency fund can provide. Research also shows that planning supports sound cash habits as well.
What is a consumable product goal?A consumable product intention is a kind of product that is used quickly. It will be procured continually due to the fact it wears out quickly.
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soapy's suds makes and sells root beer. its beginning work-in-process inventory was $12,000 and the ending work-in-process inventory was $10,000. during the year, soapy used $45,000 of direct materials and incurred $30,000 of direct labor in production. its cost of goods manufactured for the period was $97,000. how much manufacturing overhead did soapy incur during the period?
A manufacturing company's work-in-process inventory account currently has a balance of $3,000 at... Williams Company's direct labor expenditures make up 25% of its total costs.
What motivates your use of a term account?
account is a summary of transactions over the course of a fiscal period that displays the final balance.
a list of debit and credit entries to account for transactions involving a specific item (as cash or notes receivable).
A few instances of personal accounts are clients, vendors, employee wage accounts, employee drawing accounts, owner capital accounts, etc. Debiting the recipient and crediting the provider is the fundamental concept behind personal accounts. In this instance, the corporation is the provider and the recipient is a worker.
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Consider the following model for the production of refined oil: MPC = 10 + 0.2Q;
In the process of producing, firms also pollute the air in the area. Assume MEC = 0.3Q;
The market demand for refined oil is MSB = 30 – 0.3Q; MEB = 0.
Use these relationships to answer the following questions:
1. (1 point) Calculate the competitive (or market) output and equilibrium price in this market.
2. (1 point) Calculate the efficient output and equilibrium price in this market.
3. (4 points) Graphically represent the MPC, MSB and MSC curves (make sure to label the axes). Make sure to indicate the value of efficient production (QE) and price (PE) levels as well as market output (QC) and price (PC) levels.
4. (1 point) Calculate the refineries’ marginal profit at the efficient equilibrium.
5. (1 point) Calculate the public marginal damage (negative benefit) at the competitive equilibrium.
6. (2 points) At Q=30, what is the minimum price (Pm) refineries would have to be compensated in order to decrease production? What would be the maximum price (PM) public users would be willing to pay to have production decreased?
Using the relationships given, Competitive equilibrium = 40, Efficient equilibrium = $22.5, Marginal profit = 15 and public marginal damage = 12.
What is Marginal profit?A firm or individual earns marginal profit when one additional or marginal unit is produced and sold. The marginal cost or profit earned when producing the next unit. The marginal product is the extra revenue earned, whereas the marginal cost is the additional cost of producing one more unit.
MPC = 10 + 0.2Q
MEC = 0.3Q
MSB = 30 – 0.3Q; MEB = 0
1. Competitive equilibrium
MSB = MPC
30 – 0.3Q = 10 + 0.2Q
20 = 0.5q
q = [tex]\boxed{40}[/tex]
2. Efficient equilibrium
MSB = MEC (Marginal social cost)
MSC = MPC + MEC
MSC = 10 + 0.2Q + 0.3Q
MSC = 10 + 0.5Q
That implies
30 – 0.3Q = 10 + 0.5Q
30 = 0.8q
q = 25 and
p = 30 - 0.3(25)
p = [tex]\boxed{\$22.5}[/tex]
3. Attachment given for the graph
4. Marginal profit = Marginal social benefit - Marginal social cost
= [30 - 0.3(25)] - [10 + 0.5(25)]
= (30+7.5) - (22.5)
Marginal profit = [tex]\boxed{15}[/tex]
5. MEC = 0.3q
At Competitive equilibrium, q = 40
MEC = 0.3(40)
MEC = [tex]\boxed{12}[/tex]
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allison is a loader in a warehouse. when one of her fellow employees explains that she will be missing work for a few weeks because her mother is terminally ill, what is the primary type of listening that allison is using?
The primary listening style Allison uses is empathetic.
What kind of hearing is the most common?In interpersonal communication, there are three primary listening styles that are most prevalent: Listening for Information (Listening to Learn) Critical Hearing (Listening to Evaluate and Analyse) Clinical or Empathetic Listening (Listening to Understand Feeling and Emotion). You are first born with the capacity for discriminative listening. All people are born with the ability to listen critically. Even before you can interpret words, you employ this kind of hearing. Listening involves focusing on the speaker's body language, voice, and other verbal and nonverbal cues in addition to the story being given. In other words, it entails paying attention to both verbal and nonverbal cues.
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according to the proponents of the quantity theory of money, can a change in the money supply m cause a change in the level of real gross domestic product y?
According to the proponents of the Quantity Theory of Money, a change in the money supply (M) can cause a change in the level of real gross domestic product (Y) in the short run.
The theory states that an increase in the money supply will lead to an increase in the overall level of prices in an economy, which is referred to as inflation.
This means that if the money supply increases without a corresponding increase in the level of real output, the purchasing power of money decreases, causing inflation.
However, in the long run, the theory states that the money supply does not affect the real output of an economy, which is determined by the availability of resources and technology.
Therefore, it's important to note that the theory only suggests that the relationship between money supply and GDP is only temporary and any long-term effects would be negated by other factors.
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tyler is organizing an extensive scientific research presentation on global warming for his professor. which organizing triad would be the most appropriate? a. fcr b. hte c. 123 d. ppf
A. It is essential to send a reminder because the audience will forget everything you say or write.
In electronic communication, why shouldn't underlined words be used?
Although these characteristics can be utilized to emphasize a point, too much of a good thing quickly becomes bad. It's possible that an email with a lot of bold, italic, and underlined text will come across as rude or even aggressive. It is merely confusing and disorienting.
Ability, appropriateness, and appeal When selecting a topic, keep these three main considerations in mind. Despite the fact that all three aspects are connected to one another, you can assist in addressing the topic's strengths and weaknesses by systematically concentrating on each one. Appeal.
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