A firm operates in a perfectly competitive market and is producing at the profit-maximizing output. It is incurring economic losses. Based on this information, which of the following must be true?
Average total cost = price; marginal cost > marginal revenue
Average total cost = price; marginal cost = marginal revenue
Average total cost > price; marginal cost = marginal revenue
Average total cost > price; marginal cost > marginal revenue
Average total cost < price; marginal cost > marginal revenue
Answers
A firm operating in a perfectly competitive market and producing at the profit-maximizing output is incurring economic losses; the following statement must be true: Average total cost > price; marginal cost = marginal revenue
In a perfectly competitive market, the price is equal to marginal revenue because the firm is a price taker. Therefore, the firm’s marginal revenue curve is horizontal. To achieve the profit-maximizing output level, the firm will produce where the marginal cost (MC) curve intersects the marginal revenue (MR) curve, which is also equal to the marginal cost curve (MC). Therefore, MC = MR = P (price).In a situation where the firm is incurring economic losses, the price is less than the average total cost (ATC). Thus, the intersection point of the MC and MR curve is below the ATC curve. The firm is producing at a level where P < ATC. To recover from the losses, the firm should produce at a level where P = ATC.
If it is not possible to reach this level, the firm should minimize its losses by producing at the point where MC = MR = P, and the price is greater than the variable cost (VC) of producing the output.
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accounts payable, end of year $ 5,123 $ 9,068 accounts receivable, net, end of year 20,005 16,082 inventory, end of year 7,424 6,615 net sales 210,000 183,000 cost of goods sold 123,000 127,000 (1) use the information above to compute the number of days in the cash conversion cycle for each year. (2) did the company manage cash more effectively in the current year?
Answers
1. It took 45 days in current year and 25 days in prior year..
2. The firm did not manage cash more effectively this year because 42 days is longer than 25 days.
Accounts payable at year's end $5,123 Net accounts receivable at the end of the year were $ 9,068. 16,082 in inventory,
7,424 in sales at year's end, and 615 in costs. Purchase price 123,000 127,000
DIO for the current year compared to the prior year is 22 days.
DSO 35, 32-day period
DPO: 15 days and 26 days
Prior Year DIO =6615*365/127000 Days Days =7424*365/123000 Days Days
DSO = 20005 * 365 * 210000 = 16082 * 365 * 183000 days
DPO = 5123 x 365 / 123000 = 9068 x 365 / 127000 days
Cycle of cash conversion:
1 Current Year Prior Year (22+35-15) (19+32-26) days days
current year = 45
prior year = 25
2 Since 42 days is longer than 25 days, the corporation did not manage funds more effectively this year.
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how can formal business documnets help managers solve problems
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Managers can fix problems by providing clear, precise information about them.
Who is the managers?A manager is someone who is in charge of managing or monitoring the business. He or she is an acting leader who helps set objectives and allocate responsibilities. He or she also exemplifies specific leadership traits that support the efficient running of the business.
The manager will be assisted in evaluating the situation and providing complete information by the formal business document.
They will be better able to handle the problem as a result. In addition, these documents will give them the precise information that the manager would need.
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Henry, a trainer at MyChem Inc., schedules training on handling hazardous chemicals for a group of newly hired employees. The training complies with OSHA regulations and is given to all employees upon hire along with periodic refreshers. The type of training described in this scenario is _____.
Answers
Answer:
Hazard Communication Standard (HCS) training program
Explanation:
The type of training described in this scenario is known as the Hazard Communication Standard (HCS) training program. This is a employee training program designed with the goal of explaining and reinforcing the written information regarding hazard labels and material safety data sheets, as well as how to behave around hazardous material and to apply this information to their workplace.
Explain the relationship between households and firms in economics
Answers
Explanation:
Households supply labor to firms and are paid wages in return. Firms use that labor to produce pizzas and sell those pizzas to households. There is a flow of goods (pizzas) from firms to households and a flow of labor services (worker hours) from households to firms.
Please help
Give four examples of how a business product can affect its operations function
Answers
1. Product design: The design of a product can impact the operations function in terms of production methods, equipment, and staffing requirements. For example, if a product is complex and requires specialized machinery to produce, the operations team will need to invest in the right equipment and ensure that they have skilled staff to operate it.
2. Product complexity: The complexity of a product can also impact the operations function. If a product is highly complex, it may require more time and resources to produce, which can affect production schedules and staffing levels.
3. Product quality: The quality of a product can impact the operations function in terms of quality control measures, inspections, and testing. If a product has strict quality requirements, the operations team may need to invest in additional quality control measures to ensure that the product meets those requirements.
4. Product demand: The demand for a product can impact the operations function in terms of production volumes, inventory management, and staffing levels. If a product is in high demand, the operations team may need to increase production volumes and ensure that they have enough inventory to meet customer demand. They may also need to hire additional staff to keep up with production levels.
Discuss the best way to receive constructive criticism from a superior.
Answers
Answer:
Stop Your First Reaction. ... Remember the Benefit of Getting Feedback. ... Listen for Understanding. ... Say Thank You. ...
Explanation:
A Stove Can be bought on hire purchase by making a deposit of $750
and 15 monthly installments of $185 each. Calculate the hire Purchase
Price of the stove
Answers
Answer:
$3,525.00
Explanation:
The hire purchase price will be the sum of the deposit and the total monthly installments.
The deposit is $750
Monthly installments =monthly fee multiplied by 15 months
=$185 x 15
=$2,775.00
Hire purchase cost will be
=$2,775.00 +$750
=$3,525.00
what are the stages of the decision-making process?
Answers
Answer:
Step 1: Identify the decision. You realize that you need to make a decision.
Step 2: Gather relevant information.
Step 3: Identify the alternatives.
Step 4: Weigh the evidence.
Step 5: Choose among alternatives.
Step 6: Take action.
Step 7: Review your decision & its consequences.
Explanation:
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Given total assets of $13,000,000, ending inventory of $2,000,000, average inventory of $1,900,000, sales of $18,000,000, and cost of goods sold of $11,700,000, average days to sell inventory is ______ da
Answers
The average day-to-sell inventory is 66.36 days.
To calculate the average days to sell inventory, we need to use the formula:
Average Days to Sell Inventory = (Ending Inventory / Cost of Goods Sold) x Number of Days in the Period
First, let's calculate the cost of goods sold by subtracting the ending inventory from the total assets:
Cost of Goods Sold = Total Assets - Ending Inventory
Cost of Goods Sold = $13,000,000 - $2,000,000
Cost of Goods Sold = $11,000,000
Next, we can calculate the number of days in the period.
Since we don't have information on the specific period, we can assume it's for a year, which is 365 days.
Number of Days in the Period = 365
Now, we can plug the values into the formula:
Average Days to Sell Inventory = ($2,000,000 / $11,000,000) x 365
Average Days to Sell Inventory = 0.1818 x 365
Average Days to Sell Inventory = 66.36 days
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Please help, <3
Analyze two pricing strategies for their advantages and disadvantages and give reasons for a business to use each of those pricing strategies.
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hope it helps
What do you mean by a facilitator? What are the major jobs of a facilitator of non formal educational programme
Answers
Explanation:
It is important to note that much of the intermittent formal learning throughout people's....Part of being an effective facilitator of informal learning ( and non-formal education) involves.
Answer:
The definition of facilitate is "to make easy" or "ease a process." What a facilitator does is plan, guide and manage a group event to ensure that the group's objectives are met effectively, with clear thinking, good participation and full buy-in from everyone who is involved.
A command economy that is now allowing for a role for markets is known as a a)traditional system. b)pure capitalism system. c)transitional system. d)mixed system. e)pure command system.
Answers
A command economy that is now allowing for a role for markets is known as a mixed system. The correct answer is option D.
The mixed system is the system where some aspects of command economy and some of market economies are combined. In a mixed system, some private enterprises exist alongside public sector enterprises, and both are regulated by the government.
In a traditional economy, economic decisions are made based on customs and beliefs that have been handed down from generation to generation. In such economies, the majority of the people are engaged in agriculture, hunting, and gathering.
Command economy, also known as a planned economy, is where a central authority or government controls and manages the country's economy. All the goods and services are produced according to the government's directions. A command economy is the opposite of a market economy.
In pure capitalism, all resources and industries are privately owned. The production and distribution of goods and services are based on supply and demand, and the prices are determined in a free market system.
Transitional economy, also known as the transitional mixed economy, is an economy that is in the process of changing from a planned economy to a market economy. It involves changes in economic structure, institutional arrangement, and legal framework, among other things. Therefore, option D is correct answer.
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Juwan eagerly opened an online trading account, believing that his market savvy would allow him to pick stocks that would make him a rich day trader. This belief best illustrates... a scientific attitude a scientific attitude critical thinking critical thinking overconfidence overconfidence hindsight bias
Answers
Answer:
overconfidence
Explanation:
Since in the question it is mentioned that the Juwan who early opened an online trading account and he believed that his market savy would permit him to pick up the stocks so that he could become richer trader
But this represents that he is overconfidence as he believe himself more than his judgments i.e. not appropriate as the overconfidence destroy the things
Therefore the same is to be considered
What is the over time pay rate
Answers
Answer:
overtime pay rate is the amount of money you would make from working overtime. sokets say you made 80,000 dollers a year and you staryed 15 hours your overtime pay rate
Explanation:
Overtime hours are hours worked over 40 in a single work week.
Example: At 45 hours for the week, Sasha worked five overtime hours in a week.
What is the answer I chose the one I thought was the answer
Answers
Answer: I think that ones the answer too
Answer:
c is
Explanation:
janice purchased a living room set for $1,000 and insured this furniture on an actual cash value basis. two years later the living room set was destroyed by a covered peril. at the time of loss, the property had depreciated in value by 25 percent. the replacement cost of the furniture at the time of loss was $1,200. assuming no deductible, how much will janice receive from her insurer?
Answers
Janice will receive from her insurer 1200$. The insurance offers financial protection against any losses the insured might incur in certain situations.
What is an insurance policy contract?Insurance, often known as insurance coverage or insurance policy, is a contract between the insurer and the insured. The insurance offers financial protection against any losses the insured might incur in certain situations.A legally binding contract must include all four of the following components: an offer and acceptance, consideration, a legal purpose, and competent parties.Its purpose is to lessen financial uncertainty and make accidental loss tolerable, and the effective date of a policy is the date the insurer accepts an offer by the applicant "as written". It achieves this by exchanging the assumption of the risk of a significant loss and a promise with the payment of a small, known amount, an insurance premium, to a professional insurer.To learn more about insurance contract, refer to:
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timberly construction makes a lump-sum purchase of several assets on january 1 at a total cash price of $900,000. the estimated market values of the purchased assets are building, $508,800; land, $297,600; land improvements, $28,800; and four vehicles, $124,800. required: 1-a. allocate the lump-sum purchase price to the separate assets purchased. 1-b. prepare the journal entry to record the purchase. 2. compute the first-year depreciation expense on the building using the straight-line method, assuming a 15-year life and a $27,000 salvage value. 3. compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation.
Answers
Depreciation expense on buildings $30,000
Depreciation = Purchase value - salvage value/estimated useful life
Depreciation = $477,000 - $27,000/15
Depreciation = $30,000
Depreciation expense on land improvements $10,800
Depreciation rate = 100%/ 5 year = 20%
Depreciation rate = 2 × 20% = 40%
Depreciation = $27,000 ×40%
Depreciation =$10,800
In accountancy, depreciation is a time period that refers to two components of the same idea: first, the actual decrease of the truthful price of an asset, which includes the lower in value of the manufacturing facility device each year as it is used and wears, and second, the allocation in accounting statements of the unique price of the belongings to intervals wherein the belongings are used (depreciation with the matching precept). Depreciation is, therefore, the lower in the value of assets and the method used to reallocate, or "write down" the price of a tangible asset (which includes a device) over its useful life span. Groups depreciate long-time period assets for both accounting and tax purposes.
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What are the pros and cons of three separate economic incentive strategies? In your response, make sure to cite actual examples of regulatory problems and laws that we have covered either in discussions or readings.
Answers
The three separate economic incentive strategies are price-based, quantity-based, and quality-based.
Price-based incentives involve setting prices to incentivize or disincentivize certain behaviors, such as imposing a tax on carbon emissions. Quantity-based incentives involve setting a limit on the quantity of a particular behavior, such as limiting the number of fishing permits to control overfishing.
Quality-based incentives involve setting standards for the quality of a product or service, such as requiring restaurants to meet certain health and safety standards.
Pros of price-based incentives include their effectiveness in reducing negative externalities, such as pollution. However, they can be regressive and unfairly impact lower-income individuals. An example of a regulatory problem is the carbon tax in Australia, which faced significant opposition and was eventually repealed.
Pros of quantity-based incentives include their ability to directly limit harmful behaviors. However, they can lead to black markets and illegal activity, such as the trade of banned substances. An example of a regulatory problem is the ban on drugs, which has led to the proliferation of illegal drug trade and associated criminal activity.
Pros of quality-based incentives include the promotion of higher quality products and services. However, they can be difficult to enforce and may result in higher prices for consumers. An example of a regulatory problem is the food safety regulations in the United States, which have been criticized for being too complex and costly for small businesses to comply with.
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what are two simple ways to measure the internet audience for your advertising banner?
Answers
Two simple ways to measure the internet audience for your advertising banner are through impressions and click-through rates (CTRs).
Impressions refer to the number of times your banner ad is displayed on a website. This metric can give you a sense of how many people are potentially seeing your ad. For example, if your banner ad is displayed 1,000 times on a website, you can say that it received 1,000 impressions.
Click-through rate (CTR) refers to the number of clicks your banner ad receives divided by the number of impressions. This metric can give you a sense of how effective your ad is at driving traffic to your website or landing page. For example, if your banner ad is displayed 1,000 times and receives 10 clicks, your CTR would be 1%.
By tracking impressions and click-through rates, you can get a sense of how well your banner ad is performing and make adjustments as needed to improve its effectiveness. There are also more advanced metrics that can be used to track the effectiveness of banner ads, such as conversion rates and return on investment (ROI), but impressions and CTRs are a good starting point for measuring audience engagement.
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what economic goals does centrally planned economy address?
Answers
Hey, can I please get some help? Thank you!
Answers
2.When interest rates are rising, both businesses and consumers will cut back on spending. This will cause earnings to fall and stock prices to drop. ... As interest rates move up, the cost of borrowing becomes more expensive. This means that demand for lower-yield bonds will drop, causing their price to drop.
Five steps of production design
Answers
Answer: 1. Hypothesise 2.Build 3.Test 4.Launch 5.Monitor
Explanation: The five steps of Production Design are:
1. Hypothesise: Start by studying the customers to find out their needs.
2.Build: Design and create prototype and analyse them.
3.Test: Test you design and get feedback from team, family, friends and beta testers.
4.Launch: Launch your project when its ready.
5.Monitor: Get product feedbacks, customer support to monitor your design.
In 2014, apple purchased what company, which is best known for headphones?.
Answers
Answer:
Beats electronics
A management strategy of giving separate organization units the responsibility to design and administer their own compensation systems is _____.
Answers
It should be noted that management strategy of giving separate organization units the responsibility to design and administer their own compensation systems is decentralized responsibility.
In a decentralized responsibility, there is a room for every team of the organization to carried out specific task.
In this strategy there is allocation of responsibility which is designed to be carried out by each part.
Therefore, dcentralized responsibility is a management strategy of giving separate organization units different responsibility.
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What accounts are affected. issued check $644 to pay for an advertisement
Answers
Answer:
Bank and Advertisement accounts
Explanation:
Journal entries
Advertisement A/c Dr $644
To Bank A/c $644
(Being advertisement expenses made by cheque)
Bank and Advertisement accounts are affected
Which of the following is currently a negative factor for foreign investment in Russia?
Select one:
a. Few Russians have access to the Internet due to heavy regulation.
b. Russian consumers have little interest in online shopping.
c. Russian consumer markets are saturated, offering few opportunities for goods from U.S. companies to sell well.
d. Russia is known for corruption, creating ethical dilemmas for firms.
e. The Russian population is poorly educated.
Answers
currently a negative factor for foreign investment in Russia is corruption, creating ethical dilemmas for firms.so option is d.
A foreign investment is what?An investment in the form of a controlling ownership in a company, in real estate, or in productive assets like factories made in one nation by a company located in another is known as a foreign direct investment. Owning assets in one country by a resident of another country is known as foreign direct investment (FDI). Foreign direct investments (FDIs) are long-term purchases of physical assets like factories, toll highways, and bridges in other nations. Financial institutions that trade equity holdings in foreign corporations on the stock exchange are examples of FDIs.
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please help meeeeeeeeeee
Answers
a service provided by -e-government that requires access to the Internet is _____.
A. RFID tags
B. E-tax returns
C. Radio programming
D. CCTV (Closed circuit TV)
Answers
Answer:
B. E-tax returns
Explanation:
E-tax returns is the electronic filing of tax returns via the internet. It entails online submission of pre-approved tax return forms available on the tax authority's website.
In recent years, governments have put measures to facilitate e-returns. It has simplified the process making it popular among taxpayers. Electronic tax filing has have contributed to having a high number of citizens registering as taxpayers.
Under a fixed exchange rate system, the government bears the responsibility to ensure that the BOP is near zero. If the sum of the current and financial accounts do not approximate zero, the government is expected to intervene in the foreign exchange market by buying or selling official foreign exchange reserves. If the sum of the first two accounts is GREATER THAN ZERO, a ________ demand for the domestic currency exists in the world. To preserve the fixed exchange rate, the government must then intervene in the foreign exchange market and ________ domestic currency for foreign currencies or gold so as to bring the BOP back near zero.
Answers
Answer:
D. surplus; sell
Explanation:
In the case of fixed exchanged rate, the government bears the responsibility with respect to the zero of the balance of payments
Now if the sum of the current and the financial accounts is more than the zero so it would be surplus and sell in the domestic country
Therefore in the given case, the option D is correct and the same is to be considered
an approved mortgage application usually locks in an interest rate for 60-120 days.
Answers
When a mortgage application is approved, borrowers can usually lock in an interest rate for 60-120 days, ensuring stability and protecting against potential rate increases during the home buying process.
True. When a mortgage application is approved, borrowers often have the option to lock in an interest rate for a specific period, typically ranging from 60 to 120 days.
This rate lock period allows borrowers to secure a specific interest rate, protecting them from potential rate increases during the home buying process. It provides stability and certainty regarding the cost of borrowing.
During the rate lock period, borrowers have time to complete the necessary steps for closing the mortgage, such as property appraisal, underwriting, and documentation.
It is important to note that the specific rate lock period can vary depending on the lender and the terms agreed upon in the mortgage agreement.
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