The current procedures for cruise passenger boarding in Miami involve check-in, security screening, immigration/customs, health screening, and boarding the ship. Disembarkation includes clearance, luggage retrieval, customs declaration, and transportation to the airport.
Boarding Process:
1. Check-in: Upon arrival at the Port of Miami, passengers need to go through the check-in process. This involves presenting necessary travel documents such as passports, boarding passes, and completed health declarations or COVID-19 testing requirements.
2. Security Screening: Passengers are required to pass through security screening, which typically includes metal detectors, X-ray scanning of carry-on luggage, and a security check of personal belongings.
3. Immigration and Customs: International passengers need to go through immigration procedures, including passport control and customs declaration, where they may be required to declare any dutiable items or goods. This step verifies the legality of travel and compliance with customs regulations.
4. Health Screening: Depending on the circumstances and any prevailing health protocols, passengers may undergo health screenings such as temperature checks or COVID-19 testing. Compliance with specific health requirements and protocols may be necessary.
5. Boarding the Ship: Once all necessary checks are completed, passengers can board the cruise ship. They will typically receive their cruise key cards, which serve as identification and access to their cabins and onboard facilities.
Exiting Process:
1. Disembarkation Planning: During the cruise, passengers will receive information about the disembarkation process. This includes instructions on luggage handling, meeting points, and assigned departure times based on their travel arrangements.
2. Clearance by Authorities: Before passengers can leave the ship, the cruise line must obtain clearance from the local authorities, including customs and immigration.
3. Disembarkation and Luggage Retrieval: Passengers are assigned specific time slots to disembark the ship. They will typically gather their luggage, either from the ship's designated area or a customarily arranged process, such as self-assist or checked baggage retrieval.
4. Customs Declaration: Passengers must go through customs declaration upon exiting the port. This involves presenting their identification, completing customs forms, and declaring any dutiable items or goods they are carrying.
5. Transportation and Departure: Once passengers have cleared customs, they can proceed to their arranged transportation, such as shuttles or taxis, to their next destination, which in this case would be the airport for a direct flight back to Toronto, Canada.
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Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 27 percent, 26 percent. 22 percent, 12 percent 7 percent. 4 percent, and 2 percent Instructions: Enter your answers as a whole number a. What is the four-firm concentration ratio of the hamburger Industry in this town?_____percent b. What is the Herfindahl index for the hamburger Industry in this town?_____
c. If the top three sellers combine to form a single firm, what would happen to the four-firm concentration ratio and to the Herfindahl index? Four-firm concentration ratio = ______ percent Herfindahl index = ______
a. The four-firm concentration ratio of the hamburger industry in this town is "67 percent".
To calculate the four-firm concentration ratio, we add up the market shares of the four largest firms in the industry. In this case, the four largest firms have market shares of 27%, 26%, 22%, and 12%, respectively. Adding those together, we get 87%. Since the market share of the fifth-largest firm is 7%, the four-firm concentration ratio is 87% - 7% = 80%.
b. The Herfindahl index for the hamburger industry in this town is **3,445**.
To calculate the Herfindahl index, we square the market shares of each firm, sum those values, and multiply by 10,000. In this case, the calculation is:
(27^2 + 26^2 + 22^2 + 12^2 + 7^2 + 4^2 + 2^2) * 10,000 = 3,445
c. If the top three sellers combine to form a single firm, the four-firm concentration ratio would be **51 percent**, and the Herfindahl index would be **2,590**.
Combining the market shares of the top three firms (27%, 26%, and 22%), we get a market share of 75%. Adding in the market share of the fourth-largest firm (12%), we get a four-firm concentration ratio of 87% - 12% = 75%. To calculate the new Herfindahl index, we square the market share of the new firm (75%), add that to the sum of the squared market shares of the remaining firms (7^2 + 4^2 + 2^2), and multiply by 10,000. The calculation is:
(75^2 + 7^2 + 4^2 + 2^2) * 10,000 = 2,590
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Gertrude takes out a $5,500 subsidized Stafford loan, which must be paid back in ten years. Gertrude will graduate four years after taking out the loan. If the loan has an interest rate of 6. 8%, compounded monthly, and Gertrude makes monthly payments, how much interest will she pay by the time the loan is repaid? Round all dollar values to the nearest cent. A. $4,462. 40 b. $1,213. 28 c. $1,713. 69 d. $2,094. 80.
The interest is the amount of payment that is given by the borrower to the lender of money, it is the excess amount that is paid for the use of money.
The amount of interest that Gertrude would pay is $2,908 to repay the total amount of the loan.
What is interest?Interest is the monetary charge for acquiring money, and it is mostly shown as a percentage, such as an annual percentage rate (APR).
Interest is the excess amount that is paid by the lender to use his money on a certain percentage, and it is repaid with the amount of principal.
Computation of Interest:
Given that,
Principal(P) = $5,550,
Interest Rate(i) = 6.8%,
\(\text{i} = \dfrac{6.8}{12\times100}\\\\\text{i} =0.005667\)
Number of monthly Installments(n)= 10×12 = 120.
Here, we apply the formula of E.M.I (Equated Monthly Installment):
\(\text{E.M.I.}= \dfrac{P\times i\times (1+i)^n}{(1+i)^n-1}\\\\\\\text{E.M.I.}=\dfrac{\$5,500\times 0.005667\times (1+0.005667)^1^2^0}{(1+0.005667)^1^2^0-1}\\\\\\\text{E.M.I.}=\$63.29\)
Here, the total installments of the loan are 120,
then the amount of total payment would be:
\(120\times\$63.29= \$7,594\)
Then, the amount of interest that is paid on the loan would be:
\(\text{Amount -Principal}= \text{Interest}\\\\\$7,594.28-\$5,500= \$2,094.28\\\\\\\text{Interest}= \$2,094.28\)
Therefore, the total amount of interest that Gertrude has to pay is $2,097.28.
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What are the 5 main conflict?
The 5 main conflicts are man vs. Self, man vs. man.
Man vs. Self. This sort of warfare is typically resulting from something external — but the battle itself takes vicinity inside.guy vs. man.guy vs. Nature.guy vs. Society.guy vs. Supernatural.The opposing force created, the conflict in the story usually comes in four basic sorts: war with the self, battle with others, war with the environment and battle with the supernatural.
A relevant struggle and climax refers to a story's inciting incident, its primary 5 main conflicts that advances the plot's factors, and how the tale's climax is resolved. right here, the vital conflict is defined as whilst a primary person's strongest desire is met with the aid of an similarly strong internal or external obstacle.
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Wich of the following accounts is credited after the sale of a fully depreciated asset
Answer:
Relevant asset account is credited
intermittent operations group their resources based on a. shape of the shop floor b. similar operations or functions c. requirements of the product d. the number of machines e. abilities of the labor force
Intermittent operations group their resources based on similar operations or functions. Option (b) is correct.
What are intermittent operations?“Intermittent operation” refers to a method of control whereby normal and standby operations are regularly repeated.
Intermittent and repetitive operations usually focus on producing merchandise in different phases of the merchandise life cycle. Intermittent operations focus on merchandise in the early stage of the life cycle because facilities are all-purpose and can be adapted to the needs of the merchandise.
Therefore, Option (b) is correct.
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Which of the following describes how the U.S. government protects and supports farmers and ranchers?
through establishing and maintaining food standards
through programs that provide direct payments
through allowing agribusiness companies to create oligopolies
through strict measures of qualis for commodities
first one to get it right gets Brainliest
Answer:
through allowing agribusiness companies to create oligopolies
Explanation:
Answer:
through programs that provide direct payments
Explanation:
The United States government gives free money to farmers and ranchers through a government subsidiary.
What is one reason to keep detailed patient records?
• A. To justify a breach of duty when it is called for
•
B. To have proof that the patient consents to treatment
•
C. To share them publicly if the patient becomes problematic
•
D. To help protect against malpractice cases and damages
The one reason to keep detailed patient records is To have proof that the patient consents to treatment. Thus the correct option is B.
In cases of medical negligence, the records of the patient give a precise and understandable description of a patient's medical history, treatments, and progress. This act is evidence that the given treatment is with the consent of the patient.
By serving as a foundation for ongoing assessments, planning, and evaluations of patient's health status, thorough records can guarantee that patients receive the best care available.
Therefore, option B is appropriate
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For the pizza seller whose marginal, average variable, and average total cost curves are shown in the graph below, what is the profit-maximizing level of output and how much profit will this producer earn if the price of pizza is $2. 50 per slice?.
Based on the prize of the pizza and the profit maximizing level, the profit at this point would be $550.
What would be the profit?First find the profit maximizing point which is:
Price = Marginal cost
At a price and marginal cost of $2.50, the quantity sold is 550 slices.
The profit is therefore:
= (price x quantity) - Average cost x Quantity
= (2.50 x 550) - (1.50 x 550)
= $550
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The demand curve faced by a monopolistically competitive firm is.
Answer: highly but not perfectly elastic.
Explanation: It is elastic because the monopolistically Competitive seller has many competitors producing closely substitutable goods, the latter being a determinant of the elasticity of demand.
twenty years ago alley cat enterprises, inc. issued $1,000 bonds which will mature in 10 years. the bonds pay 9% interest semi-annually and are currently priced to provide a yield of 14%. what is the price must a new investor pay to purchase the bonds?
To calculate the price a new investor must pay to purchase the $1,000 bonds issued by Alley Cat Enterprises, Inc. twenty years ago, we need to use the formula for present value of a bond.
Firstly, we need to find out the number of semi-annual periods remaining until maturity, which is 20 years x 2 (since interest is paid semi-annually) = 40 semi-annual periods remaining.
Next, we need to calculate the semi-annual coupon payment, which is $1,000 x 9% / 2 = $45. Then, we need to determine the semi-annual discount rate, which is 14% / 2 = 7%.
Using these figures, we can calculate the present value of the bond as follows: PV = $45 x (1 - (1 + 7%)^-40) / (7%) + $1,000 x (1 + 7%)^-40
Thus, a new investor would need to pay the present value of the bond, which is $451.63, in order to purchase the $1,000 bond.
This is because the bond is currently priced to provide a yield of 14%, which is higher than the coupon rate of 9%, meaning the bond is selling at a discount to its face value.
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instructing the bank to automatically move a fixed amount of money to your savings account every month is a proven strategy to reaching financial freedom and growing your wealth. true false
Specialty Products Company has a high turnover rate among its employees, especially those
who are young parents. Solution to this problem
The company has to first investigate the reason why young parents are leaving the company. This is the first step towards resolving the issues of high turnover.
If it is because of the inability to care for their kids while at work, then the company can solve this problem by:
Turnover in human resources refers to the act of replacing one employee with a new employee. Termination, retirement, death, interagency transfers, and resignations are examples of separations between organizations and personnel.
Turnover in human resources refers to the act of replacing one employee with a new employee. Termination, retirement, death, interagency transfers, and resignations are examples of separations between organizations and personnel.
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The Solow growth rate is the rate of economic growth that occurs when:
a. prices and wages are flexible.
b. prices and wages are sticky.
c. the money supply is growing.
d. inflation is moderate
The correct answer is option (a) which is the Solow growth rate is the rate of economic growth that occurs when the prices and wages are flexible.
What is Solow growth rate?
The Solow growth model is a neoclassical model of economic growth developed by Robert Solow.
It is a capital accumulation model that examines the long-run economic growth and income distribution of an economy.
The Solow growth rate is the steady-state rate of economic growth that occurs when the rate of capital accumulation, the rate of population growth, and the rate of technological progress are balanced.
What is Economic growth?
Economic growth is an increase in an economy's capacity to produce goods and services over time. It is the increase in the quantity and quality of goods and services produced in an economy over time.
Economic growth is measured by the rate of increase in real GDP per capita over time.
The rate of economic growth that takes place when prices and wages are flexible is known as the Solow growth rate.
Hence, option (a) is correct.
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4. Use the Internet to find an online job posting. Try searching a site like careerbuilder.com or monster.com. Then complete the items below. a. List the link to the posting. (1.0 point) b. List at least two requirements of the job. Complete sentences are not necessary. (2.0 points) c. List at least three tasks that are a part of the job. Complete sentences are not necessary. (3.0 points) d. Write 1-2 sentences explaining why or why not this job would be a good fit for you (2.0 points)
Answer and Explanation:
Hello. Brainly does not allow links to be placed in responses, which makes it impossible for me to answer your first question. However, you can find this job vacancy in the careerbuilder when searching for Internet / BDC Director.
Two requirements that this job vacancy requires of possible candidates are: Knowledge of management of social networks and experiences with online sales.
The individual who is interested in this job vacancy, if hired, will have to carry out online and face-to-face sales, perform administrative functions and perform customer service whenever necessary.
This job is not a good option for me, because I have no experience in sales, but this is a very promising job vacancy, with a fair salary and benefits, I believe that if I had the requirements, I would do very well in this type of job.
Answer:
1. https://www.careerbuilder.com/job/J337WK6Y75401Z09WZ9
2. · Ideal to have 1 year experience as a pharmacy technician coordinating activities in an administrative support function.
· Must have valid Pharmacy Technician License
3. Working with patients to explain and educate on medical questions
· Tracking and logging vaccination details into EMR (electronic medical records system)
· Assisting Pharmacist as needed
4. This job would be a good fit for me, because I am compassionate, patient, and pay attention to detail. My mathematical skills are excellent, and like working with a team of health care professionals.
Explanation:
__________ is pushing europe closer to a homogenous market in goods and services, thereby exerting additional pressure on prices.
The answer is "European integration" or "European Union (EU)".
European integration refers to the process of economic and political integration among European countries, primarily facilitated by the European Union. The EU aims to create a single market within its member states, allowing for the free movement of goods, services, capital, and labor. This integration has led to increased competition and harmonization of regulations, pushing Europe closer to a homogenous market in goods and services. As a result, businesses face additional pressure on prices due to increased competition and the removal of trade barriers within the EU.
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What would help a company reduce the risk of developing products for which there is little or no demand?.
Limiting budget allocated to R&D department would help company to reduce risk of developing products for which there is little or no demand.
What is R&D?Research and development (R&D), also referred to as research and technical development (RTD) in Europe, is a set of creative activities carried out by businesses or governments to create new services or products or to enhance those already on the market. The initial stage in the development of a potential new service or production method is research and development. R&D activities vary from institution to institution, with the two main models of an R&D department being either staffed by engineers and charged with directly developing new products, or staffed by industrial scientists and charged with conducting applied research in scientific or technological fields, which may aid in the development of future products. However, R&D is essential for capturing higher market shares through the commercialization of innovative products.
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The alternative combinations of goods and sercvives that can be produced in a given time period iwth avaiable resources and technology is referred to as:______.
The alternative combinations of goods and services that can be produced in a given time period with available resources and technology is referred to as Production Possibilities.
The various product combinations that, using all available resources and technology, could be made in a certain amount of time.What are manufactured goods used to make other goods and services?
Capital goods are manufactured goods that are used to create other products and services.
What are the resources used to make goods and services called?
The resources that people use to create goods and services are referred to as factors of production in economics.They serve as the foundation of the economy. The four categories of factors of production that economists distinguish between are land, labor, capital, and entrepreneurialism.What are 3 types of resources?
A resource can be classified as renewable or nonrenewable based on whether it can replenish itself at the rate it is used up or if it has a finite supply.Timber, wind, and solar power are examples of renewable resources, whereas coal and natural gas are examples of non-renewable resources.Learn more about Production Possibilities
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List production factors of lipgloss: Land, labor, capital, and entrepreneurship
Answer:
There are four major factors that go into the production of a high-quality lipgloss:
1) Land - the land for a lipgloss factory must be free of toxins and must be of a size that allows for turning it into a productive business.
2) Labor - the factory must be staffed with a team capable of producing the desired amount of lipgloss.
3) Capital - the factory must have the money to cover the production and advertising costs.
4) Entrepreneurship - the factory must be run by individuals who are passionate about their work and are able to make quick decisions in order to stay ahead of the competition.
Explanation:
When thinking of what goes into producing a product, it's helpful to break it down into four factors: labor, land, capital, and entrepreneurship.
• Labor refers to the physical and mental work required to produce a product.
• Land refers to the physical space required to produce a product.
• Capital refers to the cost of the fixed assets required to produce a product.
• Entrepreneurship refers to the personal assets required to produce a product.
Land is the natural resources, such as the land, which will determine the amount of resources that can be used to produce lipgloss. Labor is the amount of time and effort that it takes to produce lipgloss, which will also determine the price. Capital is the amount of money that is needed to produce lipgloss, which determines the price. Entrepreneurship is when someone takes an idea and turns it into a business. This is very important because it is the factor that determines how much a product costs.
A famous Caran d'Ache company of Switzerland makes and sells pencils in a perfectly competitive product market and hires workers in a perfectly competitive labor market. Assume that the market wage rate for workers is $120 per day.
The profit-maximization occurs at that point for a perfectly competitive firm where marginal revenue is equal to marginal cost—that is, where MR = MC.
What is perfect competition?Perfect competition is a market structure where many firms offer a homogeneous product. Because there is freedom of entry and exit and perfect information, firms will make normal profits and prices will be kept low by competitive pressures.
In the perfect competitive market, there are many firms in the market; Freedom of entry and exit; this will require low sunk costs and all firms produce an identical or homogeneous product.
The profit-maximization occurs at that point for a perfectly competitive firm where marginal revenue is equal to marginal cost that is, where MR = MC of a firm.
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When attending a networking event, you should
Question 18 options:
meet one person and make sure they understand what your business is.
tell others about your bad experiences with various local businesses.
make sure you are selling and move on when your contact starts talking about her services.
focus on the problems you can solve rather than listing the products or service that you sell.
Answer:
focus on the problems you can solve rather than listing the products or service that you sell.
Explanation:
When networking at ana event, the a is to leave a good impression of you and your business in the minds of people you interact with.
A good way to keep people engaged is to proceed solutions to their problems. Once you show you can solve a nagging problem, you become an asset they seek out to help them.
In contrast when there is more focus on listing products you can offer. It will create impression that you are only trying to satisfy your needs.
Other things equal, which of the following would shift an economy's production possibilities curve to the left?
A) The discovery of a low-cost means of generating and storing solar energy.
B) The entrance of more women into the labor force.
C) A law requiring mandatory retirement from the labor force at age 55.
D) An increase in the proportion of total output that consists of capital or investment goods.
Among the given options, the factor that would shift an economy's production possibilities curve to the left, other things equal, is: A law requiring mandatory retirement from the labor force at age 55. The correct option is C.
This is because such a law would effectively reduce the size of the labor force by forcing individuals to retire earlier than they might have otherwise, leading to a decrease in the overall workforce. A smaller labor force results in lower production capacity, and therefore the production possibilities curve would shift to the left, representing reduced economic output.
The other options mentioned, such as the discovery of a low-cost means of generating and storing solar energy (A) and the entrance of more women into the labor force (B), would actually shift the production possibilities curve to the right as they increase production capacity.
Similarly, an increase in the proportion of total output that consists of capital or investment goods (D) could lead to an increase in productive capacity over time, further expanding the production possibilities curve. The correct option is C.
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Even when maintaining open communication, you should not discuss
Answer:
C....
Explanation:
i took the quiz on edge
Even in the case of the open communication, the person should not discuss about his personal life. Thus option (C) is correct.
What is the meaning of Open Communication?Open communication refers to the way of the communication between the two or more persons who openly expresses and shares the ideas, thoughts, information, beliefs etc.
In every organization, the leaders, managers or subordinates should encourage the open communication in the form of the feedback and suggestions.
However, Even in an open conversation, the subject shouldn't bring up personal matters. Therefore, The correct option is (C).
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Which margin is at the very bottom of the page when printing worksheets?
top margin
bottom margin
header margin
footer margin
Answer:
Footer Margin
Explanation:
Just took this :)
Answer:
Footer Margin
Explanation:
3. ______ are defined as goods or services that are required for health and safety.
Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.
What is the safety of goods?A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.
Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.
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According to Jeffrey Harper, why is market research important?
A Without research data to base decisions on, marketers are just guessing
B By researching, people know marketers care about them
C Data generated by research can be sold to make extra money
D Research is fun, easy and cheap so even if nothing is learned, the experience is good
Answer: The correct answer is A i.e. Without research data to base decisions on , marketers are just guessing .
Explanation: Market research involves gathering data to learn more about target demographics and consumers so a business can market itself more effectively and, ultimately, succeed in the market.
Harper is an assistant professor of practice in the area of marketing & supply chain. According to him research plays a very important role , without doing proper or required research marketers are just assuming which might prove to be very dangerous in future .
Tyrell has a bankruptcy on his credit report and therefore pays higher interest rates on his current loans. He calculates that the extra money he pays in additional interest each year, if invested at the rate of 2.5% for one year, could earn him simple interest totaling $300. How much does Tyrell pay in additional interest each month?
Answer: $1000
Explanation:
From Tyrell's calculation, if he invests his additional credit card payment at the rate 2.5% per annum for one year could earn him simple interest totaling $300
Recall:
Simple interest = principal × rate × time
Principal = additional credit card payment
$300 = principal(P) × (2.5/100) × 1
$300 = P × 0.025 × 1
$300 / 0.025 = P
P = $12,000
Therefore, additional payment per year = $12,000
Monthly payment thus equals :
$12,000 / 12 = $1000
Answer:
c. $1,000
Explanation:
edge 2020
Please help I'm about to fail my class and i will be grounded for life, 100 pts for it! its financial literacy
Part One–Research
Imagine you bought 100 shares of stock three years ago and are selling it today. Select a company and research its stock prices. You can start with websites like Nasdaq and Fidelity. Determine the stock's price three years ago, or the purchase price, and its price today, or the selling price.
Part Two–Determine the Real Return
Calculate the real return of your stock investment using the following information:
Purchase price of 100 shares of stock
Selling price of 100 shares of stock
10% tax rate
3% inflation rate
2% administrative fee on the selling price of the stock
Part Three–Evaluate
Analyze your research and calculations, and answer the following questions:
What company did you select to buy stock in? Why did you select the company?
Consider the real return of the stock investment. Do you consider it a wise investment? Why or why not?
1. I imagine buying 100 shares of Amazon.com Inc. on January 3, 2020, when the stock price was $93.75, investing $9,375.
Today, October 31, 2022, the stock price of Amazon.com Inc. is $102.44.
2. The real return on my investment in Amazon.com Inc was a net loss of 7.12% or $667.60.
3. The company I selected to buy its stock three years ago was Amazon.com Inc.
4. I decided on Amazon.com Inc., hoping to earn spectacular returns since it is a multinational technology company.
5. When I consider the actual return on the stock investment in Amazon.com Inc., I think it was an unwise investment.
6. The investment returned a negative real value because I realized less than I initially invested; I actually lost about $667.60 overall.
What is the stock investment?Stock investment is the purchase of shares for an ownership interest in a publicly-listed company.
The investor makes the investment with the hope that the investee will grow and perform well over some period, enabling the investor to earn some real returns (in the form of dividends and capital appreciation).
Purchase of 100 shares Jan. 3, 2020 = $9,375 (100 x $93.75)
Sales of 100 shares Oct. 31, 2022 = $10,244 (100 x $102.44)
Tax (10%) = $1,024.40 ($10,244 x 10%)
Inflation (3%) = $307.32 ($10,244 x 3%)
Administration fee on sales (2%) = $204.88 ($10,244 x 2%)
Real Returns in dollars = $8,707.40 ($10,244 - $1,024.40 - $307.32 - $204.88)
Loss on returns = $667.60 ($8,707.40 - $9,375)
Loss percentage = 7.12% ($667.60/$9,375 x 100)
Unfortunately, Amazon.com Inc. did not pay any dividends during the period of my investment, and I really lost funds to taxes, inflation, and administration fees when I sold it.
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What are the two factors used to calculate productivity?
A. Goods produced and number of customers
B. Resources invested and goods lost
C. Goods produced and employees hired
D. Goods produced and resources invested
Goods produced and resources invested re the two factors used to calculate productivity.
How productivity is measured?Productivity is measured from different factors in the organization like the profit generate from the sales, number of customer increases, the amount of money invested in the company, the goods that are consumed of sell within span of time and others.
Thus, option D is correct.
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Answer:
Goods produced and resources invested
Explanation:
What would a casualty insurance policy cover?
Answer:
auto insurance policy
Answer: A customer injury caused by employee negligence
Imagine that you oun a vending machine. You are trying to figure out how much to charge for candy ban. After spending a few wecks experimenting. you find that different quantities are sold at different price. You use this information to construct the demand curve helaw Answer the following questions to help you determine the beit price to charge 1. You want to find how total revenue is affected when you drop the price from 51.00 to 80 cents. Find the price elasticity of demand when moviag from point A to point B. Over thit rathe, is the demand elautic, inelastic, or neither (unit elastic)? 2. Find the price elasticity of demand when moving from point B to point C over this range, is the deanand elastic, tinelastic or unit elastic? 3. Find the price elasticity of dernand when moving from point C to point D. Over this range, is the demand elastic, inclastic or anit clastic? 4. If your goal is to maxiraire total revenue, over which range do you thirk you should set your price? teratistatism
Price Elasticity of Demand = (Percentage Change in Quantity Demanded) / (Percentage Change in Price)
Let's answer each question one by one:
1. To find the price elasticity of demand when moving from point A to point B (from $1.00 to $0.80), calculate the percentage change in quantity demanded and the percentage change in price. Then, use the formula mentioned above to find the price elasticity of demand.
2. To find the price elasticity of demand when moving from point B to point C, repeat the same steps as in question 1.
3. To find the price elasticity of demand when moving from point C to point D, repeat the same steps as in questions 1 and 2.
4. To maximize total revenue, you should set your price within the range where demand is relatively inelastic. Inelastic demand means that a change in price has a smaller percentage change in quantity demanded. This range can be identified by looking for the portion of the demand curve with a price elasticity of demand less than 1 (inelastic).
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