Answer:
Monopolistically competitive firms are assumed to independently set the price of their differentiated product.
Explanation:
Monopolistic competition and oligopoly are two types of market structure.
Definitions:Monopolistic competitionMonopolistic competition is characterized by several competing sellers in an industry with differentiated products. In this market structure, monopolistically competitive firms have lesser barriers to entry or exit. Additionally, the consumers view the monopolistically competitive firms' products as somewhat different from the goods produced by competing firms. However, the consumers view those competing products as close substitutes. Thus, product differentiation is crucial in the success and longevity of monopolistically competitive firms. Product differentiation is the process of attracting customers by creating a feature or image that will make a product stand out or distinguishable from the existing products in the market. Through product differentiation, monopolistically competitive firms can have some control over setting prices on their products, which gives them limited market power. Although, the amount of products that the firms could sell is also contingent on the number and prices of existing substitute products in the market.
OligopolyIn contrast, oligopoly is a type of market structure characterized by a handful of major producers that have the power to influence to set the prices of their goods through price leadership. The actions taken by an oligopolist may significantly affect the sales of other firms in the same industry—when a leading oligopolistic firm increases its price, the other firms will likely follow suit. Hence, the prices of comparable goods are often similar.
Under this market structure, firms have a cost advantage compared to smaller firms due to increasing returns to scale. This means that the oligopolists could produce their products in larger volumes using lesser inputs. It is also difficult for new entrants to enter an oligopolistic industry due to lack of sufficient capital investment.
What is a trend in business
which statement best explains why money was invented?
When Frozen DeLites Ice Cream moved from its longtime storefront to a famous resort area, it took a big risk. However, the owners were confident that its unique ice cream treats would win customer raves. Fortunately, one of the members of the family business was convinced the shop needed to stay in touch with its customers. Frozen DeLites collects names and email addresses of its customers and maintains a presence on a few social media sites in order to send messages about promotions and coupons to valued customers.
Marketing professionals refer to this strategy as: _________
Marketers professionals refer to the strategy of collecting customer names and email addresses and maintaining a presence on social media sites to send messages about promotions and coupons to valued customers like relationship marketing.
This strategy of creating relationships with customers has as its main objective the generation of value and customer loyalty through a closer and more direct relationship.
Relationship marketing is a strategy that has had a greater impact with technological development, social media for example, has strengthened communication between company and customer, making the relationship closer and more dynamic.
Therefore, companies that use relationship marketing create value through content that generates benefits and customer engagement with the company, increasing loyalty and positioning in the market.
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what is the most common goal of a trade agreement?
Answer:
For the United States, the main goal of trade agreements is to reduce barriers to U.S. exports, protect U.S. interests competing abroad, and enhance the rule of law in the FTA partner country or countries.
Casey has a job doing valet parking. Casey makes an hourly rate of $4. 55 per hour plus tips. Last week Casey worked 26 hours and made $898. 55. How much in tips did Casey earn last week? a. $34. 56 b. $118. 30 c. $157. 25 d. $780. 25.
Answer:
$4.55 * 26 hours = $118.3 $898.55 - $118.3 = $780.25 Casey has a job doing valet parking. Casey makes an hourly rate of $4.55 per hour plus tips. Last week Casey worked 26 hours and made $898.55. Casey earned $780.25 in tips last week.
Casey earned tips totaling to a whooping amount of $780.25. She has received these tips by working for twenty-six hours in the last week. So, the correct option is D.
The calculation of tips earned by Casey is done by subtracting the value of his income less the actual salary earned by her during the period.
Calculation of salary and tips The information that has been provided to us is that Casey worked for 26 hours in the week at a salary rate of $4.55 per hour. The total income of Casey is $898.55. The total salary of Casey can be calculated as using the following formula,[tex]\rm Total\ Salary\ = Hourly\ Rate\ x\ Hours\ Worked\\\\\\\rm Total\ Salary= 4.55\ x\ 26\\\\\\\rm Total\ Salary= $118.3[/tex]So after finding the total salary of Casey, we will put the values of the salary in the formula required for computing earnings of Casey by way of tips,[tex]\rm Tips = Total\ Income-\ Salary\\\\\\\ \rm Tips\ Received= 898.55- 118.3\\\\\\\rm Tips\ received= \$780.25 \\[/tex]So we have found that the total income of Casey by way of tips is $780.25 for the last week.Hence, the correct option is D that Casey earned $780.25 by way of tips in the last week out of the $898.55 he earned.
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what would be the best organizational strategy to use for an essay instructing someone how to bake cupcakes
The best organizational strategy to use for an essay instructing someone how to bake cupcakes is chronological order.
Chronological order refers to be arrangements with respect to time from the earliest time to the latest time.This means, the instructor will start giving instructions on how to bake cupcakes from measurements of flour, sugar, butter and other things to mixing the ingredients.Thereafter, the instructor writes on the oven temperature to bake the cake until when the cake is fully baked.
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Based on business management, Chronological order would be the best organizational strategy to use for an essay instructing someone how to bake cupcakes.
This is because a Chronological order as an organization strategy would explain how a baker or business owner would get things done accordingly.
For instance, it should state the things to get ready such as utensils, ingredients, and other tools necessary.
It will then follow with how to prepare the cupcake, starting from the first thing to do till final action to make the cupcake tasty and yummy.
Hence, in this case, it is concluded that the correct answer is "Chronological Order."
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If you are trying to substantially reduce the amount you spend on food, you should try...
Answer:
Cooking your own food at home for as many meals as possible
Explanation:
To reduce the amount spent on food, I will make a spending plan or budget plan. It helps to reduce the amount spent on food without sacrificing nutrition.
What is a Budget plan? A budget plan is simply a plan you create to help you meet expenses and spend money the way you want to spend it. A good spending plan can help you stop “spending leaks” in other words, it can keep you from spending money without thinking.The spending plan for food:Make healthy choices (they are cheaper)Buy produce in seasonUse sales and couponsThink frozen, canned, or driedSave on protein foodsWaste not, want notIn this way, I will reduce the amount spent on food.
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After listing a home with a broker, the seller told the broker NOT to disclose a major structural defect in the house. What should the broker do
Answer:
he should not disclose a major structural defect in the house
How is the annual percentage rate (APR) on a loan different
from the interest rate?
O A. The APR is offered only on credit cards.
B. The APR can be compounded.
C. The APR includes interest and fees.
D. The APR differs between different lenders.
The answer to your question is C. The APR includes interest and fees
human resources is the basic resources for an office,clarify this statement.
An HR department is tasked with maximizing employee productivity and protecting the company from any issues that may arise within the workforce. HR responsibilities include compensation and benefits, recruitment, firing, and keeping up to date with any laws that may affect the company and its employees.
In simplest terms, the HR (Human Resources) department is a group who is responsible for managing the employee life cycle (i.e., recruiting, hiring, onboarding, training, and firing employees) and administering employee benefits.
how is the domain rank different from other ranks?
In relation to ranks, the word "domain rank" is not well-known or standardized. You can be referring to a particular idea or measure regarding Website positioning or search engine optimization (SEO).
One search engine optimization (SEO) idea developed to gauge the effectiveness of a particular campaign is website authority or domain rank. Domain rating is a ranking indicator developed by Ahhrefs and used to show how strong a website's backlink profile is in comparison to other websites in their database.
Developed by Moz, the Domain Authority (DA) score for search engine rankings indicates how likely it is for a website to appear in search engine result pages (SERPs).
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Paid Rs.4,500 to Anita after deducting 10% discount.
Answer:
4050
Explanation:
=10%of 4500
=450
now,
4500-450=4050
Under riparian rights, if flowing water is shallow, a property owner usually owns to A) the center of the water. B) the average high-water mark. C) the next county. D) the edge of the water.
There are different kinds of rights. Under riparian rights, if flowing water is shallow, a property owner usually owns to center of the water.
Riparian rights are regarded as the legal rights of owners of land that is known to be bordering on a river or other waterbodies.
A "riparian owner" is simply known as an individual who possess a land that runs into a river. Riparian rights are simply not known as ownership rights but simply as the rights of access to the water for drinking water, bathing, etc.
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what could you do to avoid a miscommunication with a friend
Prime cost is directly related to production. So, per unit prime cost can be calculated easily. While on the other hand, overhead does not have direct relationship with production. So, to calculate per unit cost, overhead is classified according to functions.” Explain this statement and also summarize all the overheads according to their functional classification.
Basically, a firm's prime cost equals the total direct costs of production which includes the cost of raw materials and labor.
The prime cost equation is {Cost of raw materials + Direct labor}The overhead cost refers to those cost incurred while running a firm but can not be linked to creation of a product or service.
Overhead expenses is the cost remaining after deduction of direct labor, direct materials and direct expenses.
In conclusion, the prime cost and overhead cost are both significant in production of finished goods.
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Liang Company began operations in Year 1. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows.
Year 1:
Sold $1,346,200 of merchandise (that had cost $976,400) on credit, terms n/30.
Wrote off $20,700 of uncollectible accounts receivable.Received $670,500 cash in payment of accounts receivable.
In adjusting the accounts on December 31, the company estimated that 2.00% of accounts receivable would be uncollectible.
Year 2:
Sold $1,599,900 of merchandise (that had cost $1,304,800) on credit, terms n/30.
Wrote off $28,300 of uncollectible accounts receivable.
Received $1,219,300 cash in payment of accounts receivable.
In adjusting the accounts on December 31, the company estimated that 2.00% of accounts receivable would be uncollectible.
Required:
Prepare journal entries to record Liang’s Year 1 and Year 2 summarized transactions and its year-end adjustments to record bad debts expense.
Answer:
General Journal
Debit
Credit
a(1)
Accounts receivable
$1,349,100
Sales
$1,349,100
a(2)
Cost of goods sold
$977,100
Merchandise inventory
$977,100
b
Allowance for doubtful accounts
$18,100
Accounts Receivable
$18,100
c
Cash
$669,200
Accounts Receivable
$669,200
d
Bad Debt
Expense
[Refer working note 1]
$35,307
Allowance for doubtful accounts
$35,307
e(1)
Accounts receivable
$1,514,600
Sales
$1,514,600
e(2)
Cost of goods sold
$1,299,000
Merchandise inventory
$1,299,000
f
Allowance for doubtful accounts
$26,700
Accounts Receivable
$26,700
g
Cash
$1,110,700
Accounts Receivable
$1,110,700
h
Bad Debt
Expense
[Refer working note 2]
$36,507
Allowance for doubtful accounts
$36,507
.
.
Working note 1 - Computation of bad debt expense for the
year 1
Accounts receivables beginning balance
$0
Add: Credit sales
$1,349,100
Less: Collections
($669,200)
Less: Write-off's
($18,100)
Accounts receivables ending
balance
(a)
Describe Globalization in your own words
Answer:
Globalization is the word used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. It can also mean the speedup of movements and exchanges all over the planet. It is important because it changes the way nations, businesses and people interact.
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Explanation:
Why is it important to review all pages of this document carefully? What should Anna do if she finds an error?
Reviewing all pages of a document carefully helps ensure accuracy, completeness, and professionalism. If Anna discovers an error, she should take appropriate steps to rectify it based on its significance and potential impact on the document's content and purpose.
Thoroughly reviewing all document pages ensures accurate, complete information to prevent misunderstandings, legal problems, or financial errors. It maintains coherence, logical flow, and consistency. Scrutinizing all pages detects formatting, layout, or typographical issues, upholding professionalism. In vital contexts like legal agreements or financial reports, neglecting errors can lead to significant consequences.
Upon finding an error, Anna's action depends on its significance. Minor issues like typos can be directly corrected. For substantial errors affecting meaning or legality, she should highlight and annotate the problem, documenting necessary corrections. Anna must inform relevant parties, consult supervisors or legal advisors if needed, and adhere to document review protocols. After corrections, a final review ensures accurate and error-free content.
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Vincent owns an apartment building containing 15 rental units. Vincent pays $22,690 in taxes and building upkeep every year, and charges rent of $833 per month. Assuming that all of the rental units are full, how much does Vincent make from his apartment building every year? a. $127,250 b. $149,940 c. $35,185 d. $102,260.
The total amount Vincent will make each year from the apartments will be $127,250.
Computation:
Given,
Number of rental units =15The total amount paid in the form of taxes and for upkeeping of the building is $22,690.Charges for the rent of each apartment for each month are $833.
First, total rental income from all the 15 apartments for the entire year is computed as follows:
[tex]\begin{aligned}\text{Income from Rental Apartments}&=\text{Rent per month}\times\text{Total Units}\times12\\&=\$833\times15\times12\\&=\$149,940\end{aligned}[/tex]
Now, the net income is computed based upon the total income and total expense:
[tex]\begin{aligned}\text{Net Income}&=\text{Income from Rental Apartments}-\text{Taxes and Building Upkeep}\\&=\$149,940-\$22,690\\&=\$127,250\end{aligned}[/tex]
Therefore, option a. $127,250 is correct for the net income of Vincent from the rental property after paying off the taxes and charges for upkeeping the building every year.
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Answer:A) $127,250
Explanation:edge
The total dollar value of consumption, investment, government spending, exports, and imports is provided in the table above. What is the GDP of this fictional country?
Possible answers are:
$12,000,000
$9,000,000
$8,000,000
$10,000,000
The GDP of this fictional country is $ 8,000,000 (option C)
What is the GDP?Gross domestic product (GDP) is a term to refer to a macroeconomic magnitude that expresses the monetary value of the production of goods and services in final demand of a country or region during a period, usually one year.
There are several ways to know the GDP of a country, the simplest is a mathematical operation that includes the following data:
The consumption of households and non-profit institutions.The investment of companies and families.The final consumption expenditure of the public sector.The value of net exports.The value of imports.The operation states that we must add the first four indicators and subtract the last one. According to the information provided in the fragment, the operation would be:
5 + 2 + 2 + 1 - 2 = 8According to the above, the GDP of this fictitious country is $ 8,000,000 (option C)
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Luis has a biweekly gross pay of $770 and claims 2 federal withholding allowances. Luis has all of the following deductions from his gross pay: federal tax from the following table Social Security tax that is 6. 2% of his gross pay Medicare tax that is 1. 45% of his gross pay state tax that is 19% of his federal tax Determine how Luis’ net pay will be affected if he increases his federal withholding allowances from 2 to 3. A. His net pay will decrease by $19. 0. B. His net pay will increase by $19. 0. C. His net pay will decrease by $22. 61. D. His net pay will increase by $22. 61.
Based on the information given, it should be noted that the correct option will be D. His net pay will increase by $22.61.
What is a net pay?A net pay simply means the take-home pay. It's the earning of an employee after the deductions are subtracted from the gross pay of the employee.
From the complete information, it can be deduced that Luis has a biweekly gross pay of $770 and claims 2 federal withholding allowances. Taking the fact that the security tax, Medicare tax, etc are taken into consideration and the federal withholding allowances increased from 2 to 3, the net pay will be $22.61.
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The net pay of Luis will increase by $22.61 due to the decrease in the federal withholding allowances from 2 to 3.
Computation of net pay based upon the different levels of federal withholdingsGiven,
Gross pay =$770
2 Federal withholding allowances =$50(taken from the reference table)
3 Federal withholding allowances =$31(taken from the reference table)
Federal state tax rate =19%
First, the state tax rate and the total amount of withholding for 2 Federal withholding allowances are computed:
[tex]\begin{aligned}\text{State Tax}&=\text{Claim Amount}\times\text{Federal State Tax Rate}\\&=\$50\times19\%\\&=\$9.50\end{aligned}[/tex]
[tex]\begin{aligned}\text{Total Amount of 2 withholdings}&=\text{Claim Amount}+\text{State Tax}\\&=\$50+\$9.50\\&=\$59.50\end{aligned}[/tex]
Now, the state tax rate and the total amount of withholding for 3 Federal withholding allowances are computed:
[tex]\begin{aligned}\text{State Tax}&=\text{Claim Amount}\times\text{Federal State Tax Rate}\\&=\$31\times19\%\\&=\$5.89\end{aligned}[/tex]
[tex]\begin{aligned}\text{Total Amount of 3 withholdings}&=\text{Claim Amount}+\text{State Tax}\\&=\$31+\$5.89\\&=\$36.89\end{aligned}[/tex]
The difference in the net pay will be the difference between $59.50 and $36.89, which is $22.61.
Therefore, Luis withholding will decrease from $59.50 to $36.89 that is increasing the net pay by $22.61
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The new-product development process is:
a. a formalized protocol for new-product development that begins at the corporate level and ends at the functional level.
b. the informal process of brainstorming to generate new-product concepts at a marketing staff meeting.
c. the process of presenting cross-functional teams with a written new-product concept statement and asking them to respond to it in writing.
d. the two stages an organization goes through from idea generation to commercialization.
e. the seven stages an organization goes through to identify business opportunities and convert them into salable products or services.
According to the demand-pull theory, inflation is caused by:
Answer:
Understanding Demand-Pull Inflation
Demand-pull inflation is a tenet of Keynesian economics that describes the effects of an imbalance in aggregate supply and demand. When the aggregate demand in an economy strongly outweighs the aggregate supply, prices go up. This is the most common cause of inflation.
Explanation:
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Elizabeth and Niko are very organized and do an excellent job organizing their personal financial records. How will this BEST help them when they file their taxes?
A. If they have organized records, they won’t likely have to file taxes.
B. This can help them maximize their deductions.
C. Their tax return will definitely not be audited.
D. They are guaranteed to get a tax refund instead of owing taxes.
Answer:
b
Explanation:
took the test
A real estate professional leased a building for 10 years at an annual rent of $48,000. She will receive a commission of 7.5% for the first five years, 5% for the next three years, and 3.5% for the final two years. What will her gross income be from this commission over the life of the lease
Her gross income from this commission over the life of the lease is $28,560.
Commission for the first five years
Commission=5×(48,000× .075)
Commission=5×3600
Commission=$18,000
Commission for the next three years
Commission=3×(48,000 ×.05)
Commission=3×2,400
Commission=$7,200
Commission for the final two years
Commission=2×(48,000 ×.035)
Commission=2×1,680
Commission=$3,360
Gross income commission:
Gross income commission=$18,000+$7,200+$3,360
Gross income commission=$28,560
Inconclusion her gross income from this commission over the life of the lease is $28,560.
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The Johnsons are buying a house that costs $210,000 and can afford a 20% down payment. If the Johnsons want the lowest monthly payment, which loan option would you recommend? a. 30 year FHA, 3. 5% down at a fixed rate of 6. 25% b. 30 year fixed, 20% down at a fixed rate of 6% c. 30 year fixed, 10% down at a fixed rate of 6% d. 15 year fixed, 20% down at a fixed rate 5. 5%.
If the Johnsons want the lowest monthly payment, the recommended loan option is Option b.
Data and Calculations:Cost of house = $210,000
Down payment = 20% or $42,000 ($210,000 x 20%)
Loan = $168,000 ($210,000 - $42,000)
Monthly Payments:Option a. 30 year FHA, 3. 5% down at a fixed rate of 6. 25%:
Cost of house = $210,000
Down payment = 3.5% or $7,350 ($210,000 x 3.5%)
Loan = $202,650 ($210,000 - $7,350)
Result:
Monthly Payment = $1,247.75
Sum of all periodic payments = $449,190.33
Total Interest = $246,540.33
Option b. 30 year fixed, 20% down at a fixed rate of 6%
Cost of house = $210,000
Down payment = 20% or $42,000 ($210,000 x 20%)
Loan = $168,000 ($210,000 - $42,000)
Result:
Monthly Payment = $1,007.24
Sum of all periodic payments = $362,608.16
Total Interest = $194,608.16
Option c. 30 year fixed, 10% down at a fixed rate of 6%
Cost of house = $210,000
Down payment = 10% or $21,000 ($210,000 x 10%)
Loan = $189,000 ($210,000 - $21,000)
Result:
Monthly Payment = $1,133.15
Sum of all periodic payments = $407,934.18
Total Interest $= 218,934.18
Option d. 15 year fixed, 20% down at a fixed rate 5. 5%
Cost of house = $210,000
Down payment = 20% or $42,000 ($210,000 x 20%)
Loan = $168,000 ($210,000 - $42,000)
Result:
Monthly Payment = $1,372.70
Sum of all periodic payments = $247,086.04
Total Interest = $79,086.04
Thus, if the Johnsons want the lowest monthly payment, the recommended loan option is Option b with a monthly payment of $1,007.24.
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Johnson's should opt for a loan with interest rate of 6.25% ; period of 30 years and a down payment of 20% of the loan amount. So, the correct option that matches the query is B.
The calculation of the interest can be done by using the simple interest. Under Simple interest method, the loan is calculated only on the principal amount and not on the interest.
Housing Loans The calculation when the down payment of 20% is made upfront the calculation will be shown as $42000. So, the interest will be charged only on the remaining balance of $168,000. The calculation can be shown as below,[tex]\rm Amount= \dfrac{Principal\ x\ Rate\ of\ Interesr\ x\ Time}{100}\\ \\\\ \rm Amount= \dfrac{168000\ \rm x\ 6\ \rm x\ 360}{100}\\ \\ [/tex]The interest to be paid each year will be calculated as under for a total number of 30 years.[tex]\rm Interest\ per\ Year= \dfrac{36288}{30}[/tex]So total interest to be paid each year will be $1209.6 which is lower than all the other options available in the hands of Johnson's.Hence, the correct option is B that it would be beneficial for Johnson's to opt for 20% down payment at an interest rate of 6% and for a period of 30 years.
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When building a new hospital, the developer did not remove any trees, based on the belief that doing so could compromise the ability of future generations to meet their own needs. This is an example of managing for
The actions of the developer in not removing any trees is in line with the practice of sustainability.
Sustainability:
Refers to using resources in a way that they can be used by others. Ensures that future generations are catered for.Sustainability ensures that the next generation can take care of themselves because resources will be left that the next generation can survive on. Practicing sustainability like the developer above did, ensures human survival.
In conclusion, this is sustainability.
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What is the name of the tab that becomes available after you add and select an image in your PowerPoint presentation?
Home
Insert
Picture
View
Answer: Picture tab
Explanation:
When you insert a picture, PowerPoint for the web places the picture on your slide and puts a Picture tab on the ribbon. With the picture selected, click the Picture tab.
Traditional direct marketing tools include ________.
A. websites, catalog marketing, telemarketing, e-mail, kiosks, and online videos
B. catalog marketing, telemarketing, websites, e-mail, direct mail marketing, and online advertising
C. catalog marketing, telemarketing, websites, e-mail, online videos, and blogs
D. face-to-face selling, direct-mail marketing, catalog marketing, telemarketing, direct-response televisionmarketing, and kiosk marketing
E. catalog marketing, online advertising, e-mail, telemarketing, direct-response television marketing, and websites
Answer:
Face to face selling, direct-mail marketing, catalog marketing, telemarketing, direct-response television marketing, and kiosk marketing. or in other words your option is D
Explanation:
Price floors usually result in ___________________.