Costs that fluctuate in line with variations in the volume of a company's output are known as variable costs. Total marginal costs across all units produced make up variable costs.
What is variable cost and fixed cost?Any costs that fluctuate according to how much a business produces and sells are referred to as variable costs. Accordingly, variable costs grow when production is higher and decline when production is lower. Labor, utility prices, commissions, and raw materials are a few of the most typical categories of variable costs. On the other hand, fixed costs are any expenses that are constant regardless of how much a business produces. These expenses, which include things like rent, property tax, insurance, and depreciation, are typically unrelated to the specific business activity carried out by a corporation.
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A firm charging a price identical to or very close to the competition's price is using a __________ strategy
A firm charging a price identical to or very close to the competitions price is using a status quo pricing strategy.
A status quo pricing strategy involves setting our product price equal to some benchmark over time. In other words, it can be that we match our competitions price. If a firm keeps their price the same over time and guarantee that it won't change, that's a status quo pricing strategy.
For instance, the soft drink industry. The price of a bottle of soda tends to be fairly consistent, be it a Coca-Cola or a Pepsi product. Other competitors in market with less brand loyalty, may try discounted pricing, but Coca-Cola and Pepsi tend to represent a status quo in pricing.
Hence, status quo pricing seeks to keep your product prices in line with similar products offered by your competitions.
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What was the opportunity cost for lebron james when he determined to directly enter the nba?
LeBron James is one of the best basketball players in the country, was selected by the Cleveland Cavaliers as the first pick in the 2003 NBA draft, signing a three-year contract worth almost $13 million, with an option for a fourth year at $5.8 million. Had he decided to attend college instead, James would have incurred an opportunity cost of at least $19 million in forgone income to earn a four-year college degree.
Opportunity cost is the value you would gain or lose if you choose a different path or solution. The opportunity cost in this scenario is deciding to play in the NBA since college was too expensive. LeBron James ultimately saved time and money by taking the detour because he received a contract worth close to $13 million; otherwise, he would have had to pay more and spend more time attending a four-year college.
LeBron's decision to join the NBA right after high school graduation has an opportunity cost because he might have attended a four-year university or college instead. He was chosen by the Cleveland Cavaliers as the first overall choice in the 2003 NBA Draft
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If the supply curve for a product is vertical, then the elasticity of supply is:
If the supply curve for a product is vertical, then the elasticity of supply is equal to zero.
Deliver curve, in economics, photo representation of the relationship between product charge and the amount of product that a dealer is inclined and able to deliver. Product rate is measured on the vertical axis of the graph and the amount of product provided on the horizontal axis.
The supply curve is a graphic representation of the correlation between the fee of terrific service and the amount supplied for a given duration. In a regular illustration, the price will seem on the left vertical axis, even as the amount provided will seem on the horizontal axis.
Deliver curve shift: changes in production fees and associated factors can purpose an entire supply curve to shift proper or left. This reasons a higher or decreased amount to be supplied at a given price. The ceteris paribus assumption: supply curves relate charges and quantities provided assuming no different factors exchange.
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According to classical macroeconomic theory and monetary neutrality, changes in the money supply affect?
According to classical macroeconomic theory and monetary neutrality, changes in the money supply affect the GDP deflator
A measure of inflation in the prices of goods and services produced in the United States, including exports. The GDP deflator, though calculated differently, reflects the GDP price index very well. The GDP deflator is used by some companies to adjust payments for contracts.
GDP deflator = nominal GDP / real GDP * 100
Other price indexes such as CPI and GDP deflators are not formed in fixed baskets of goods and services. The basket changes each year depending on the investment and consumption patterns of the people of the year.
The GDP deflator is an essential indicator of the economy and helps to compare the year-to-year rise in price levels of goods and services. Unlike the Consumer Price Index (CPI), the GDP deflator allows comparisons across multiple time periods without using the base year as a constant or specific commodity basket.
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Because owners are only responsible for losses up to the amount they have invested in a corporation, limited liability is considered:
Because owners are only responsible for losses up to the amount they have invested in a corporation, limited liability is considered a major advantage.
What is a limited liability?Limited liability is when the maximum amount an investor in a business can lose is the amount invested in the business. When the liabilities of investors are unlimited, once the amount invested has been used to pay for liability and their is still business debt, the person resources of investors would be used to pay the debt.
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True or false: Thanks to better construction methods and advanced warnings, the economic and loss of human life caused by hurricanes has been dropping over the last 100 years in the United States. True false question.
False, this statement is not true.
True or false: Thanks to better construction methods and advanced warnings, the economic loss of human life caused by hurricanes has been dropping over the last 100 years in the United States.
This statement is not true because construction methods have improved, but more buildings and more expensive homes are being built along the coast. While deaths are down, the economic costs are up.
What precautions can be implemented to reduce the impact of the tropical cyclone on local residents?
Lock all doors, turn off the gas, water, and electricity, and get your emergency and evac supplies. To escape excessive traffic, flooding, and wind threats when fleeing inland (outside of town), take your pets with you and depart early. Follow the instructions of the police and the State/Territory Emergency Services when evacuating to a public shelter or higher site.
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Luwam is convinced that her product idea has great potential. She has decided to produce the product herself, but will use other companies who specialize in storing and transporting products to help her move the product from where it is manufactured to the final consumer. These specialists Luwam uses will be part of her:
Luwam is convinced that her product idea has great potential. She has decided to produce the product herself, but will use other companies who specialize in storing and transporting products to help her move the product from where it is manufactured to the final consumer. These specialists Luwam uses will be part of her: "channel of distribution".
What is channel of distribution?A product or service could travel down a distribution channel to reach the market. A corporation can sell to customers directly through a direct distribution channel, which is typically a website or physical store.
Some characteristics of channel of distribution are-
A distribution channel is a network of businesses or middlemen where the final consumer buys a product or service.Wholesalers, retailers, distributors, and the Internet are examples of distribution channels.The manufacturer sells directly to the customer through a direct distribution channel. Before the product reaches the customer, indirect routes use a number of middlemen.The product, promotion, and price are other components of a company's marketing plan, which also includes a distribution channel, usually referred to as placement.Therefore, the length of a distribution channel depends on how many middlemen are needed to distribute a good or service.
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If net capital outflow is positive, then: a. exports must be positive. b. exports must be negative. c. the trade balance must be positive. d. the trade balance must be negative.
The correct answer is option c. the trade balance must be positive.
Net capital outflowThe net flow of money a country invests overseas over a specific time period is known as a net capital outflow (NCO) (usually a year). An increased amount of foreign investment relative to domestic investment is indicated by a positive NCO. NCO is one of two main metrics used to describe how a nation interacts with the rest of the world on a financial and economic level (the other being the balance of trade).
The net flow of money a country invests overseas over a specific time period is known as a net capital outflow (NCO) (usually a year). An increased amount of foreign investment relative to domestic investment is indicated by a positive NCO.
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Tell us about a time when you went above and beyond for a customer or a time someone went above and beyond for you.
As a customer service representative, I have always strived to exceed customer expectations. After helping the customer with the problem, we will get back to you the next week. I will double-check if there is anything wrong with the product you purchased and if there is anything else I can help you with. My simple approach helped these customers make a good impression on the company and improved customer satisfaction.
When preparing responses to behavioral interview questions such as the following, you can organize your ideas according to the STAR format.
S: Situation - Brief background to the story.
T: Task - Please describe what was expected of you and the minimum required.
A: Action - tells you what you did and how you did it.
R: Results - Finally, show that your efforts have led to better results.
Five Mistakes to Avoid
Don't talk too much.
Avoid non-work experience.
Avoid vague answers.
Avoid suspicious situations (such as unethical behavior).
It doesn't sound like you were forced to do what you did.
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The management at GameGuys, Inc. designed a strategy that unifies advertising, personal selling, public relations, and sales promotion activities creating a consistent message. This effort to promote a positive brand image represents a(n) ________ program.
The management of GameGuys, Inc. designed a strategy that unifies advertising, personal selling, public relations, and sales promotion activities, creating a consistent message. This effort to promote a positive brand image represents an integrated marketing communication program.
What is integrated marketing communication?They correspond to strategies used in organizations to promote a brand, a product or a relevant message through integrated communications, which are conveyed in different communication channels, to attract a greater number of potential consumers. Some media used are:
Social networksTVRadioNewspapersThe objective then of the integrated marketing communication is to generate a reinforcement of a communication that will increase the value of the brand and the perception of the target public.
Therefore, IMC generates a unified strategy through marketing processes, such as identifying the best public relations strategy and audience analysis to identify the best marketing communication, generating positioning for a company.
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Pro Flowers LLC has been in business for five years. When one of its members dies, the other members of the LLC agree to dissolve the LLC. They proceed to wind up the business, collecting and liquidating all the assets of the LLC. Once that is done, the proceeds will be distributed:
The proceeds would first be paid to creditors, then the capital of the members would be repaid and the balance thereafter would be shared based on an agreed percentage.
It should be borne in mind that LLC means limited liability company, which is a company whose members or owners are only liable for the business debt to the extent of their capital contributions, the implication of that is that would use their personal assets to settle business obligations.
When such companies are wounded up, the claims of creditors take precedence over others' claims, which means creditors would be settled first.
From any assets remaining after creditor settlement, their capital contributions would be repaid and finally, any funds left thereafter as surplus would be distributed to the owners equally or based on a pre-agreed formula.
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Which performance improvement tool should you use when the causes of an event fall into natural categories, such as materials, methods, and equipment?
A Fishbone diagram is a performance improvement tool should you use when the causes of an event fall into natural categories, such as materials, methods, and equipment
What do you understand by Fishbone diagram?
A tool for performance improvement that identifies or categorizes the underlying causes of a problem or condition and visually displays those causes.
Which outcome is the focus of performance improvement initiatives?
Identifying situations where expenses are much higher and outcomes are noticeably worse than average among caregivers is the focus of many organizations' performance improvement initiatives.
What are performance improvement tools?
Process maps, fishbone diagrams, and other performance improvement tools are available to help teams identify the aspects of their team processes that are ineffective and the best ways to fix them.
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Financial organizations that accept no deposits but offer many of the same services as regular banks are called ______.
Financial organizations that accept no deposits but offer many of the same services as regular banks are called non-banks
A non-bank financial institution (NBFI) is a financial institution that does not have a full bank license and cannot accept deposits from the general public. However, NBFI enables alternative financial services such as Investment (collective and individual), risk pooling, financial advice, brokerage, remittance, and check to cash.
Examples of non-bank financial institutions include insurance companies, venture capitalists, currency exchange offices, microcredit organizations, and pawn shops. These non-bank financial institutions are not always suitable for banks, they compete with banks and offer sector- and group-specific services.
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Yang company sold merchandise for $2,000. The event is subject to a state sales tax of 9%. Based on this information, yang would be required to:.
Based on this information, yang would be required to:
Increase assets
Increase revenue
Increase liabilities
What is cash sales?
Cash sales mean selling merchandise whereby cash is collected from the customer instantly as against a promise to pay cash at a future which is applicable to credit sales.
Which accounts are impacted by cash sales?
By receiving cash from merchandise sales, the cash balance of the seller increases, the seller sales revenue would go up by the amount of cash sales and also liabilities would also rise as well.
When sales tax of 9% is deducted from sales revenue, the sum is kept Yang company until a later date when it would be remitted to the relevant tax authority, before then , the withheld sales tax is a liability for Yang company
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After informing his employer that he had cancer, Steve was abruptly fired. The federal legislation that prohibits discrimination against qualified individuals with disabilities is
After informing his employer that he had cancer, Steve was abruptly fired. The federal legislation that prohibits discrimination against qualified individuals with disabilities is American with disabilities act.
What is the American with disability act?This is the labor act that was enacted in the United States. The goal of the act was to stop all forms of discriminations and prejudice on the people of the nation based on the fact that they have health issues.
This law tries to promote fairness in the workplace and also tries to ensure that all the people of the country have a chance when it comes to employment wit out bias.
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In what way(s) does gdp per capita not provide an accurate representation of living standards?
The ways that gdp per capita does not provide an accurate representation of living standards is option A, B,C.
What is gdp per capita ?Gross domestic product per capita is used to measure or determine the growth of a nation economy or income of a nation per individual who live in the nation.
Hence, gdp per capita cannot provide an accurate representation of living standards through the followings ways:
A. GDP per capita does not measure production that occurs outside of the market economy.B. GDP per capita does not account for changes in environmental quality.C. GDP per capita does not account for how people distribute their time between work and leisure.The missing options are:
A. GDP per capita does not measure production that occurs outside of the market economy.
B. GDP per capita does not account for changes in environmental quality.
C. GDP per capita does not account for all final goods and services sold in markets.
D. GDP per capita does not account for how people distribute their time between work and leisure.
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Aarp expects agents offering aarp-branded products to demonstrate five key behaviors when interacting with customers. Aarp wants customers we work with to feel their relationship with aarp is _____________.
Aarp expects agents offering aarp-branded products to demonstrate five key behaviors when interacting with customers. Aarp wants customers we work with to feel their relationship with aarp is effortless and inspiring.
What is the way to interact with customers?Customer interaction involves rendering services to customers by business either through social media or physical contact.
For interactions with customers to be effective, there must be:
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A business that is independently owned and operated, is not dominant in its field of operation, and meets certain standards of size in terms of employees or annual receipts is a(n):
This business is called SMALL BUSINESS.
What is Small business and its role ?The SBA defines a small business as one that is independently owned and operated, not dominant in its field of operation and meets certain standards of size in terms of employees or sales.Small business is defined as a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business.4 types of small business
Sole proprietorship, Partnership, Corporation, andLimited Liability Company, or LLCRAfter agriculture, small businesses are the second largest employment provider in the Indian economy. In comparison to big corporations, small businesses generate the most number of employment opportunities per unit of capital invested. Therefore, they are the second largest generators of employment in human resource.
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To be eligible for this plan type, consumers must meet the following requirements: be entitled to Medicare Part A and enrolled in Part B, and reside in the plan's service area. Which plan is being described
Consumers must see the contracted network providers in order to receive coverage under the plan and to be eligible for this plan type.
What is a Medicare program?This refers to the social insurance program administered by the United States government that provides a health insurance to people who are aged 65 and over, or who meet other special criteria.
Conventionally, the Federal program provides a health insurance coverage to people ages 65 and older and younger people with permanent disabilities.
However, in order for someone to be entitled to Medicare Part A and enrolled in Part B, the consumers must see contracted network providers in order to receive coverage under the plan and to be eligible for this plan type.
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The owner of mcdonald's, ray kroc, turned to his business associates - his suppliers - for funds to keep the business going.
a. True
b. False
"The owner of McDonald's, ray Kroc, turned to his business associates - his suppliers - for funds to keep the business going the given statement is true.
"Kroc shall receive one and nine-tenths per cent (1.9 per cent) of net profits generated by the franchisee(s), with one-half per cent (0.5 per cent) of said net earnings given to Richard McDonald and Maurice McDonald," according to the contract.
A meagre income source and little cash reserves & added that the franchisee chooses the location and then signs a lease.
The contract is an albatross that forces Kroc to go through a glacially long approval process in order to make adjustments.
Kroc was free to manage the business any way he saw fit after the McDonald brothers were out of the way.
He had established more than 700 eateries in 44 states by 1965. The first fast-food corporation to list on the stock market was McDonald's in April of that year. Shares of stock were issued for $22 each. Within a few weeks, it increased to $49 per share, turning Kroc into an overnight millionaire. By the end of the decade, approximately 1,500 McDonald's restaurants were open throughout the world, exceeding even Kroc's original aim.
Hence, the above-given statement is true.
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The unit contribution margin is calculated as the difference between: _________
A. selling price and fixed cost per unit.
B. selling price and variable cost per unit.
C. selling price and product cost per unit.
D. C-fixed cost per unit and variable cost per unit.
E fixed cost per unit and product cost per unit.
Explanation:
Hhhghihjgogsu is one of the most popular and most powerful tools that you can use for 786 and your own business experience with the words below the web site is very important to me and the company is we6 and 322233455788909 is the difference between the 53 21 335 70
Enterprise social networks have changed communication channels within corporations in all of the following dramatic ways except ________.
Enterprise social networks have changed communication channels within corporations in all of the following dramatic ways except" the ability to create encrypted emails."
What is Enterprise social networks?Businesses utilise corporate social networks, which are internal social networks, to help their teams connect with one another across the organisation. Team messaging, project management, task management, and collaboration tools are typically combined into one platform.
The main benefits of using an enterprise social network are-
improved communication. storehouse of knowledge. coordinated centralization.a location for informal social communication.company culture that is inclusive. Distracting online activities. notices and messages received at unexpected times.The most common benefits of enterprise social networks are-
Communication on a business social network is frequently less formal, fixed, and conventional than via email. Information moves more naturally in this way. Barriers in the hierarchy are lowered. Like any other employee, executives are able to publish comments in the workflow and converse with everyone simultaneously.To know more about enterprise social network, here
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Proof-of-Blank______ is a requirement to define an expensive computer calculation, also called mining, that needs to be performed in order to create a new group of trustless transactions on the distributed ledger or blockchain. Multiple choice question. stake work decision
Proof-of-Work is a requirement to define an expensive computer calculation, also called mining, that needs to be performed in order to create a new group of trustless transactions on the distributed ledger or blockchain.
What is Proof-of-Work in Cryptocurrency?A type of cryptographic demonstration known as proof-of-work involves one party (the prover) demonstrating to another (the verifiers) that a certain amount of computational effort has been put forth. Consequently, this spending may be easily verified by verifiers with little work on their behalf.The goal of proof-of-work algorithms is not to demonstrate that a task was completed or that a computational challenge was "solved," but rather to prevent data modification by imposing onerous energy and hardware control constraints. Environmentalists have criticized proof-of-work systems for using too much energy.Later, Bitcoin popularized proof of work as the basis for agreement in a permissionless, decentralized network where miners compete to add blocks and create new money.To learn more about Cryptocurrency refer to:
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Evaluate this SLA: Marketing will send four marketing emails each month, and sales will follow up with 50% of the recipients.
A Service Level Agreement (or SLA) is the part of a contract which defines exactly what services a service provider will provide and the required level or standard for those services.
There are three basic types of SLAs: customer, internal and multilevel service-level agreements. A customer service-level agreement is between a service provider and its external customers.
By Evaluation of this SLA we get,Marketing will send four marketing emails each month, and sales will follow up with 50% of the recipients.
1.This SLA’s requirements focus on the wrong activities.
2.This SLA’s requirements aren’t specific enough.
3.This SLA is missing a requirement.
4.No change needed.
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The winner of the first annual Tom Morris Golf Invitational won $105 in the competition which was held in 1899. In 2015, the winner received $1,460,000. If the winner's purse continues to increase at the same interest rate, how much will the winner receive in 2050
$25968406.94.
a. Computation of Effective Interest Rate
Future Value = Present Value * (1 + r)^n
Future Value = $1460000
Present Value = $105
n = Number of Years = 116 Years
Future Value = Present Value * (1 + r)^n
1460000 = 105 * (1 + r)^116
13904.76 = (1 + r)^116
1.0857 = 1 + r
Effective Interest Rate = 8.57%
b.Future Value in the year 2050
Future Value = Present Value * (1 + r)^n
Present Value = $1460000
n = Number of Years = 35 Years
Future Value = Present Value * (1 + r)^n
Future Value = 1460000 * (1 + 0.0857)^35
Future Value = 1460000 * 17.7866
Future Value in the year 2050= $25968406.94.
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A catalog company that receives the majority of its orders by telephone conducted a study to determine how long customers were willing to wait on hold before ordering a product. the length of time was found to be a random variable best approximated by an exponential distribution with a mean equal to 3 minutes. find the waiting time at which only 10% of the customers will continue to hold.
The waiting time at which 10 percent of the customers would continue to hold in the catalogue company is given as 0.316
How to solve for the waiting timeWe have to solve for X ~ Exponential(λ).
then E(X) = 1/λ = 3,
= 0.3333
Remember that the cumulative distribution function of X is F(x) = 1 - e^(-λx). ; x is equal to the time in over case
For 10 percent of the people we would have a probability of
10/100 = 0.1
we are to find
P(X ≤ t)
= 1 - e^(0.3333)(t) = 0.1
Our concern is the value of t
Then we take the like terms
1-0.1 = e^(0.3333)(t)
1/0.9 = e^(0.3333)(t)
t = 3 * ln(1/0.9)
= 0.3157
~0.316
The waiting time at which 10 percent of the customers would continue to hold in the catalogue company is given as 0.316
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Garrett Jennings is thinking about buying an investment that represents safety and income within the investment pyramid. Which investment is Garrett thinking about purchasing
An investment that Garrett thinking about purchasing is (C) U.S. securities and conservative mutual funds.
What is an investment pyramid?An investment pyramid, also known as a risk pyramid, is a portfolio strategy that allocates assets based on their relative risk levels. In this technique, the risk of an investment is determined by the variance of the investment return or the possibility that the investment may lose a significant amount of value.What are U.S. securities and conservative mutual funds?The United States Securities and Exchange Commission (SEC) is an independent federal government body established in the aftermath of the 1929 Wall Street Crash. The SEC's principal mission is to enforce the law against market manipulation.Balanced funds include conservative mutual funds. When you invest in them, money is put into debt instruments. Around 75% to 90% of the investment is in debt instruments, with the remaining 10% to 25% in equity. A conservative fund is appropriate for someone with a low-risk tolerance.As the definition says, a conservative fund is appropriate for someone with a low-risk tolerance.
Therefore, an investment that Garrett thinking about purchasing is (C) U.S. securities and conservative mutual funds.
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Correct question:
Garrett Jennings is thinking about buying an investment that represents safety and income within the investment pyramid. Which investment is Garrett thinking about purchasing?
(A) Speculative stocks, options, and commodities.
(B) Growth stocks and rental property.
(C) U.S. securities and conservative mutual funds.
(D) CDs and U.S. government bonds.
(E) All of these are appropriate for safety and income.
If the majority of service customers are satisfied, it is likely that all service customers will be satisfied.
If the majority of service customers are satisfied, it is likely that all service customers will be satisfied. False
Customer service is the provision of service to customers before, during, and after purchase. This makes it an important part of the customer's value chain. Different industries require different levels of customer service [1], but ultimately, the idea of a well-delivered service is to increase revenue. Awareness of a successful customer service interaction depends on employees who are “adaptive to the customer's personality”. [2] Customer service is often practiced in a way that reflects the company's strategy and values. Good customer service is usually valued by customer loyalty. Customer service is part of a company's intangible assets for some companies and can differentiate them from others in their industry. A great customer service experience can change a customer's overall perception of your company. [3]
Good customer service means consistently meeting customer expectations. Good customer service is fast, easy, personal, and caring. Companies that provide excellent customer service take the time to understand the needs of their unique customer base. J.
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Petco provides products and services for individuals who own pets. Petco might use _____ to tailor marketing mixes to meet the needs of specific customers such as those who own cats, dogs, fish, birds, or other animals. in-store displays consolidated marketing advertising market segmentation
Petco might use D. market segmentation to tailor marketing mixes to meet the needs of specific customers such as those who own cats, dogs, fish, birds, or other animals.
What is market segmentation?Market segmentation is a marketing effort to identify and target consumer groups so that products and branding can be attractively tailored.
The purpose of market segmentation is to use the identified differences among customers to determine the best marketing strategies for different groups.
Good market segmentations should be:
StableActionableAccessibleIdentifiableSubstantialDifferentiable.The different types of market segmentation are summarized as follows:
Benefit SegmentationVolume SegmentationGeographic SegmentationBehavioristic SegmentationDemographic SegmentationProduct-space SegmentationPsychographic Segmentation.Thus, D. market segmentation can help Petco to tailor marketing mixes to meet the needs of specific customers.
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Some causes of small-business Blank______ include underpricing or overpricing goods or services, starting with too little capital, going into business without first learning something about the industry or market, and underestimating how much time it will take to build a market
Some causes of small-business failure include underpricing or overpricing goods or services, starting with too little capital, going into business without first learning something about the industry or market, and underestimating how much time it will take to build a market.
What are small businesses?A small business refers to a privately owned and operated business, that essentially have few employees to work with.
An advantage if small business is that efforts and commitment put into growth of the business will be duly reaped by the owner.
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