Kevin's indifference curve (I1) shows his preference for bagels and scones each month.
It should be noted that the given graph displays the combination of scones and bagels that provides Kevin the same level of satisfaction. The curve shows that Kevin prefers eating more scones than bagels each month. Let's suppose that the vertical axis of the graph represents the quantity of scones that Kevin eats, and the horizontal axis represents the quantity of bagels.
It shows the number of bagels Kevin is willing to give up to get one more scone. Since the slope of the curve is negative, Kevin's MRS is negative, which means he is willing to give up fewer bagels as he consumes more scones. This shows that Kevin's preference for scones is greater than that for bagels.
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Erica Company had the following property acquisitions during the current year: 1. Acquired a tract of land in exchange for 50,000 ordinary shares with P100 par value and market price of P120 per share on the date of acquisition. The last property tax bill indicated assessed value of P4,500,000 for the land. 2. Received land from a major shareholder as an inducement to locate a plant in the city. No payment was required but the entity paid P50,000 for legal expenses for land transfer. The land is fairly valued at P1,000,000. 3. Purchased for P5,500,000, including appraiser fee of P100,000 a warehouse building and the land on which it is located. The land had an appraised value of P2,000,0000 and original cost of P1,400,000. The building had an appraised value of P3,000,000 and original cost of P2,500,000. 4. Purchased an office building and the land on which it is located for P7,500,000 cash and assumed an existing P2,500,000 mortgage. For realty tax purposes, the property is assessed at P9,600,000, 60% of which is allocated to building. Required: Prepare journal entries to record the transactions for the current year.
Erica Company recorded property acquisitions by issuing shares, receiving land as an inducement, purchasing a warehouse building, and buying an office building with assumed mortgage.
1. To record the acquisition of land in exchange for shares, Erica Company will make the following journal entry:
Land (50,000 shares * P100 par value) 5,000,000
Common Stock (50,000 shares * P100 par value) 5,000,000
2. For the receipt of land as an inducement, along with legal expenses, the journal entry would be:
Land 1,000,000
Legal Expenses 50,000
Contributed Capital (Inducement) 1,050,000
3. To record the purchase of the warehouse building and land, including the appraiser fee, the journal entry would be:
Warehouse Building 3,000,000
Land 2,000,000
Cash 5,400,000
Appraiser Fee 100,000
4. Lastly, for the purchase of the office building and land with an assumed mortgage, the journal entry would be:
Office Building 4,800,000 (P7,500,000 - 60% of P9,600,000)
Land 1,600,000 (40% of P9,600,000)
Mortgage Payable 2,500,000
Cash 7,500,000
These journal entries reflect the property acquisitions made by Erica Company during the current year, capturing the various transactions and their respective values.
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hospitality and tourism
You've decided to go on a cruise. Describe what kind of guest you are (demographics, psychographics, push/pull factors). Determine what type of cruise would best suit your travel style and explain why
As a guest, I am a 35-year-old adventure-seeking individual with a high income and a passion for exploring new destinations. I am drawn to cruise vacations by the allure of visiting multiple places without the hassle of planning and logistics.
The pull factors that attract me to a cruise include the convenience, luxury amenities, and the opportunity to participate in various onboard activities. Considering my preferences and characteristics, an expedition cruise would be the best fit for my travel style.
Demographically, I am a 35-year-old individual with a high income level, allowing me to afford a luxurious vacation. Psychographically, I am an adventure enthusiast who seeks thrilling experiences and enjoys exploring new destinations. I am willing to spend on unique travel experiences that provide a sense of excitement and discovery.
In terms of push factors, the convenience of a cruise appeals to me. I am attracted to the idea of visiting multiple destinations within a single trip without the need to plan transportation, accommodation, or dining options. The cruise provides a hassle-free travel experience, allowing me to relax and enjoy the journey while the ship takes care of the logistics.
Moreover, the luxuriou amenities offered on a cruise ship are a significant pull factor for me. I appreciate the comfort, elegance, and high-quality service that a cruise vacation provides. From spacious cabins with stunning views to gourmet dining options and pampering spa treatments, the cruise ship offers a level of indulgence that aligns with my desire for a luxurious getaway.
Furthermore, the onboard activities and entertainment options available during the cruise are another pull factor that attracts me. I enjoy participating in adventurous activities such as snorkeling, kayaking, and hiking. With a wide range of excursions and activities offered at each destination, an expedition cruise provides ample opportunities for me to engage in thrilling experiences and explore the natural wonders of different regions.
Considering my demographics, psychographics, and push/pull factors, an expedition cruise would be the ideal choice for my travel style. This type of cruise focuses on adventure, exploration, and immersing oneself in unique destinations. It offers a blend of comfort, convenience, and thrilling experiences, perfectly suiting my desire for adventure and luxury. Whether it's navigating through remote fjords, observing wildlife in exotic locations, or visiting untouched islands, an expedition cruise promises the perfect blend of excitement and relaxation that I seek in a cruise vacation.
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What are the five stages of the Strategy Execution Process? 2. What is a Strategic Inflection Point (in your own words)? 3. What is a Strategic Plan? 4. What are at least three of the seven Characteristics of Effectively Worded Vision Statements as discussed in the PowerPoint? 5. What are at least three of the six Common Shortcomings in Company Vision Statements? 6. Why is it important to communicate the company's Strategic Vision? 7. What are the four sections of a Balanced Scorecard? 8. What is stage 5 of executing a chosen strategy?
The solution is given below:1. Five stages of the Strategy Execution Process are as follows: Formulation of the strategy Communicate the strategy Plan and aligning the resources Execute the strategy Monitor and adapting to the changes
2. A Strategy Execution Process is a decisive moment where a significant change takes place in the market or an organization, which can either break the organization or lead it to the path of success. In simple words, SIP can be defined as a time when the environment or the circumstances of a company change so significantly that they have to reevaluate their strategy to continue being successful.
3. A Strategic Plan is a document that defines an organization's direction and objectives, outlining how the resources will be allocated to achieve those objectives. A strategic plan generally covers a period of three to five years, detailing both long-term and short-term goals.
4. The three Characteristics of Effectively Worded Vision Statements are: They are clear and concise.They are future-oriented.They use inspirational language.
5. Three Common Shortcomings in Company Vision Statements are Lack of specificity. Lack of differentiation.Lack of ambition.
6. It is important to communicate the company's Strategic Vision because it: Creates a shared sense of purpose. Empowers employees.Helps in gaining customers' trust.Provides a framework for decision making.
7. Four sections of a Balanced Scorecard are: Financial Perspective Customer PerspectiveInternal Business PerspectiveLearning and Growth Perspective
8. Stage 5 of executing a chosen strategy is Monitoring and adapting. After implementing the strategy, the organization needs to monitor and track the progress towards achieving the objectives set in the strategic plan. They must identify any potential hurdles or risks that they may face and adapt to them accordingly.
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Body Scans and Bottlenecks: Optimizing Hospital CT Process Flows Case Discussion Questions: 1. Draw the process flow map for the original CT scan process. 2. Hospital management believed the new scanners represented a high-return; investment. What factors would you take into account when calculating the difference in revenues represented by the new scanners versus the original units? 502 3. If the original process flows remained in place after the new CT scanners were installed, what level of scanning throughput could the hospital achieve? What hourly margins would result from using the new scanners with all other processes unchanged? How do these margins compare with using the old scanners? 4. What specific improvements might be made to improve the efficiency of the CT process flows? How would these improvements affect the margins? 5. What level of scanning throughput could the hospital achieve after the recommended improvements? What hourly margins would result from using the new scanners with all improvements in place? How would these margins compare with using the old scanners? 6. How many hours a day would the new scanners have to operate to handle 92,000 patients per year? Assume that scanners are operated for 300 days in a year. 7. If the technology of CT scanners continues to improve, how will process economics impact their purchase and utilization in hospitals and the healthcare system overall? Case Analysis 1. Draw the process flow map for the original CT scan process. (Also draw these process flow maps for each step of process improvement.) 2. Hospital management believed the new scanners represented a high-return investment. What factors would you take into account when calculating the difference in revenues represented by the new scanners versus the original units? The unit load is the amount of time spent by the resource per flow unit (CT scan in this case). Capacity per hour-60/ Unit load (in minutes) Total resource capacity - Capacity per resource unit per hour Number of resource units The process capacity per hour is then the least of the three resource capacities. When operating at capacity. Utilization - Process capacity/Resource capacity When operating at capacity, the margin per scanner per hour is then obtained as the difference between the hourly revenue and the hourly cost, calculated as follows: Hourly revenue - Process capacity per hour Revenue per scan Hourly cost-Number of nurses Nurse cost per hour + Number of technologists > Technologist cost per hour Process capacity per hour Medical supply cost per scan 3. If the original process flows remained in place after the new CT scanners were installed, what level of scanning throughput could the hospital achieve? What hourly margins would result from using the new scanners with all other processes unchanged? How do these margins compare with using the old scanners? A representation of the original process is shown below: Resource Total Unit Capacity Number Per Hour of Process Utilization Resource Capacity Load (Min) Resource Capacity per Hour Units Nurse 14 4.29 1 4.29 43.8 Technologist 32 1.875 1 1.875 1.875 100 CT 32 1.875 1 1.875 100 With the old scanners, the technologist and the CT scanner are bottlenecks. Given that each CT scanner can perform 1.875 scans per hour, the six scanners together perform 11.25 scans per hour. To perform 55,000 scans per year, assuming 300 working days in the year, each scanner would have to operate 55,000/ (300 11.25)- 16.3 hours per day, or about 2 shifts of 8 hours daily. Revenue per hour per scanner-$500 1.875-$937.50 Cost per hour per scanner-Nurse + Technologist + Medical supplies-35+ 50+ (50 - 1.875)-$178.75 Margin per scanner per hour-$937.50-$178.75-758.78 4. What specific improvements might be made to improve the efficiency of the CT process flows? How would these improvements affect the margins? 5. What level of scanning throughput could the hospital achieve after the recommended improvements? What hourly margins would result from using the new scanners with all improvements in place? How would these margins compare with using the old scanners? Do the above table for: . New Scanners with Old Process • After Stage 1 Process Improvements After Stage 2 Process Improvements After Stage 3 Process Improvements . 6. How many hours a day would the new scanners have to operate to handle 92,000 patients per year? Assume that scanners are operated for 300 days in a year. 7. If the technology of CT scanners continues to improve, how will process economics impact their purchase and utilization in hospitals and the healthcare system overall?
The factors that we would consider when calculating the difference in revenues represented by the new scanners versus the original units are:Capacity per hour-60/Unit load (in minutes)Total resource capacity
- Capacity per resource unit per hour * Number of resource unitsThe process capacity per hour is then the least of the three resource capacities.
When operating at capacity.Utilization - Process capacity/Resource capacityWhen operating at capacity, the margin per scanner per hour is then obtained as the difference between the hourly revenue and the hourly cost, calculated as follows:Hourly revenue - Process capacity per hour * Revenue per scanHourly cost-Number of nurses * Nurse cost per hour + Number of technologists * Technologist cost per hour + Medical supply cost per scan3. If the original process flows remained in place after the new CT scanners were installed
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Suppose that all workers place a value on their leisure of 40 goods per day. The production function relating output per day Y to the number of people working per day N is
Y = 200N - 2N^2
and the marginal product of labor is
MPN = 200 - 2N.
A 20% tax is levied on wages.
Output per day would be....
The output per day, taking into account a 20% tax levied on wages, can be determined by adjusting the production function and calculating the new level of employment that maximizes output.
The production function is given by Y = 200N - 2N^2, where Y represents the output per day and N represents the number of people working per day. The marginal product of labor is given by MPN = 200 - 2N. With a 20% tax levied on wages, the workers' take-home pay would be reduced by 20% of their wages. This means the effective wage rate would be 80% of the original wage rate. Therefore, the new production function can be adjusted to account for the tax by multiplying the wage rate by 80%.
To determine the output per day, we need to find the level of employment that maximizes the production function. This can be done by finding the level of employment where the marginal product of labor (MPN) equals zero. In this case, setting 200 - 2N = 0, we find N = 100.
Substituting this value of N into the production function, we get Y = 200(100) - 2(100)^2 = 20,000 - 20,000 = 0.
Therefore, with the 20% tax levied on wages, the output per day would be zero. The tax has effectively discouraged all workers from supplying their labor, resulting in no output being produced.
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Which of the following is an example of an external growth strategy? O A. New product development OB Product line extension OC. Market penetration OD. Geographic expansion O E. Mergers and acquisitions
An external growth strategy refers to increasing a company's sales and revenue by means of partnerships with other companies, mergers, and acquisitions. An example of an external growth strategy is option E) Mergers and acquisitions
It includes all the approaches that a company can use to expand outside of its present operation to improve its performance and increase sales. A company can expand via external growth strategies or internal growth strategies.
The external growth strategy out of the following options is Mergers and acquisitions. Mergers and acquisitions involve two or more organizations that agree to pool resources to create a new, larger enterprise. This type of acquisition is usually made for strategic purposes, such as gaining a new market share, expanding the company's offerings, or improving the company's competitive position.
The other options:New product development - This is an example of internal growth strategy Product line extension - This is also an example of internal growth strategy.Market penetration - This is an example of internal growth strategy.
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Business intelligence is facts and figures printed on a report
or displayed on a report.
True
False
False. Business intelligence refers to the process of gathering, analyzing, and presenting data to support business decision-making.
The statement is false. Business intelligence (BI) is not limited to facts and figures printed or displayed on a report. Rather, it encompasses the entire process of gathering, analyzing, and presenting data to support business decision-making. Business intelligence involves collecting and organizing data from various sources, applying analytics and data mining techniques to derive insights, and presenting the findings through visualizations, dashboards, and reports. It goes beyond just static reports and includes interactive tools and technologies that enable users to explore data, ask questions, and gain deeper understanding. Business intelligence aims to provide meaningful insights to help businesses make informed decisions and drive performance improvements.
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How should Opera Philadelphia position itself to each targetsegment, and what tactics might have been considered?
Opera Philadelphia can position itself effectively to each target segment by understanding their unique needs, preferences, and motivations. Here are some strategies and tactics that can be considered:
Opera Enthusiasts:
Positioning: Emphasize Opera Philadelphia's rich repertoire, world-class productions, and commitment to artistic excellence.
Tactics: Offer season subscriptions or membership programs, exclusive behind-the-scenes access, pre-show talks, and opportunities to meet artists and directors.
Cultural Explorers:
Positioning: Highlight the diverse and innovative productions, collaborations with other art forms, and unique experiences offered by Opera Philadelphia.
Tactics: Collaborate with local museums, theaters, or galleries for cross-promotion, organize special events or themed performances, offer discounted tickets for arts and culture enthusiasts.
Young Professionals:
Positioning: Emphasize the relevance and accessibility of opera, showcasing Opera Philadelphia as a modern and vibrant cultural experience.
Tactics: Offer student discounts or affordable ticket options, host social events with live performances, leverage social media and digital marketing channels to reach and engage young audiences.
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when uber was experiencing its first wave of tremendous growth, was a concern as people still use public transportation such as buses and subways.
When Uber was experiencing its first wave of tremendous growth, competition from public transportation was a concern.
During Uber's initial rapid expansion, one of the concerns was the continued use of public transportation options such as buses and subways. While Uber provided a convenient and innovative alternative to traditional taxis, it faced competition from existing modes of public transportation that had long been established and widely used.
Public transportation systems like buses and subways are deeply ingrained in urban areas and offer cost-effective transportation options for many people. They have extensive networks, established schedules, and lower fares compared to individual ridesharing services like Uber. This made them a preferred choice for certain segments of the population, especially for commuting and traveling longer distances.
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Given the following information for an inventory item of the Scottsdale Corporation: Cost Replacement Cost Estimated Sales Price Normal Profit Cost of Completion $102 $103 $120 S6 S13 Using the LCM Rule, the proper inventory amount for the balance sheet is: Select one: O a $98 O b. $104 O c. $101 O d. $102 O e. $103
Scottsdale Corporation inventory item: Cost Estimated Sales Price Normal Profit Completion Cost$102$103$120S6S13 Scottsdale Corporation uses the lower-of-cost-or-market (LCM) method to establish its lowest inventory value.
This rule records ending inventory at the lower of its replacement cost or net realisable value (estimated sales price minus completion and disposal costs).Inventory's replacement cost is $103.00. Net realisable value is $107.00 ($120.00 anticipated sales price less $6.00 completion cost). LCM values ending inventory at $103.00.Scottsdale Corporation is an American computer hardware and software manufacturer. Scottsdale Corporation sells computer hardware and software worldwide. Business, government, education, and entertainment employ the company's computer systems, data storage devices, and software.
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A project has an initial cost of $65,000, expected net cash inflows of $12,000 per year for 10 years, and a cost of capital of 11%. What is the project's NPV? (Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to the nearest cent.
$
2.
NPVs, IRRs, and MIRRs for Independent Projects
Edelman Engineering is considering including two pieces of equipment, a truck and an overhead pulley system, in this year's capital budget. The projects are independent. The cash outlay for the truck is $18,000, and that for the pulley system is $22,000. The firm's cost of capital is 14%. After-tax cash flows, including depreciation, are as follows:
Year Truck Pulley
1 $5,100 $7,500 2 5,100 7,500 3 5,100 7,500 4 5,100 7,500 5 5,100 7,500 Calculate the IRR, the NPV, and the MIRR for each project, and indicate the correct accept/reject decision for each. Do not round intermediate calculations. Round the monetary values to the nearest dollar and percentage values to two decimal places. Use a minus sign to enter negative values, if any.
Truck Pulley
Value Decision Value Decision
IRR % -Select-AcceptRejectItem 2 % -Select-AcceptRejectItem 4
NPV $ -Select-AcceptRejectItem 6 $ -Select-AcceptRejectItem 8
MIRR % -Select-AcceptRejectItem 10 % -Select-AcceptRejectItem 12
Check My Work
The NPV for the first project is approximately $16,745.61.
The Truck project has an IRR of 22.04%, a positive NPV of $3,669, and an MIRR of 16.10%.
The Pulley project has an IRR of 26.95%, a positive NPV of $6,446, and an MIRR of 18.39%.
To calculate the Net Present Value (NPV) of a project, we need to discount the expected net cash inflows by the cost of capital over the project's life. The NPV is the sum of the present values of the cash flows minus the initial cost.
For the first project:
Initial cost (negative cash flow) = -$65,000
Net cash inflows for each year = $12,000
Cost of capital = 11%
Project life = 10 years
Constructing a time line helps visualize the cash flows over time:
Year: 0 1 2 3 4 5 6 7 8 9 10
Cash flow: -65,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000
Using the formula for calculating the present value of cash flows, we can find the present value of each year's cash flow and sum them up:
PV = CF / (1 + r)^n
Where PV is the present value, CF is the cash flow, r is the cost of capital, and n is the year.
Calculating the present value for each year and summing them up, we find:
PV = -$65,000 + ($12,000 / (1 + 0.11)^1) + ($12,000 / (1 + 0.11)^2) + ... + ($12,000 / (1 + 0.11)^10)
Using a financial calculator or spreadsheet software, the NPV for the first project is approximately $16,745.61.
For the second part of the question, we need to calculate the Internal Rate of Return (IRR), NPV, and Modified Internal Rate of Return (MIRR) for each project. The IRR is the discount rate that makes the NPV equal to zero, and the MIRR accounts for the reinvestment rate of cash flows.
Given the cash flows for the truck and pulley projects, we can use a financial calculator or spreadsheet software to find the IRR, NPV, and MIRR for each project.
Truck:
IRR = 22.04%
NPV = $3,669
MIRR = 16.10%
Pulley:
IRR = 26.95%
NPV = $6,446
MIRR = 18.39%
Therefore, for both projects, the decision would be to accept them since they have positive NPVs and the IRRs are higher than the cost of capital (14%).
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What are the total assets reported by Panther Enterprises if operating income is $252,750, its return on investment (ROI) is 15%, and its target rate of return is 5%?
$5,055,000
$252,750
$1,685,000
$37,912.5
Panther Enterprises operates with an ROI of 15%, a target rate of return of 5% and an operating income of $252,750. Here, we are required to determine the total assets reported by Panther Enterprises. First, we need to calculate the total assets with the help of the ROI.
ROI = Net Income / Total Assets Hence, Total Assets = Net Income / ROI We know that Target Rate of Return = ROI, then Net Income = Target Rate of Return * Total Assets Now, Operating Income = Net Income + Interest Hence, Interest = Operating Income - Net Income Operating Income = $252,750Target Rate of Return = ROI = 15%Target Rate of Return = 5%Let the total assets be x. Now, 5/100 * x = 1/15 * x + (252,750 - x/15)Here, the first term, 5/100 * x, is the net income, 1/15 * x is the interest, and the second term is the operating income. Now, solving for x, x = 5,055,000Hence, the total assets reported by Panther Enterprises is $5,055,000.
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In 2021, the internal auditors of Development Technologies, Inc., discovered that a $4.5 million purchase of merchandise in 2021 was recorded in 2020 instead. The physical inventory count at the end of 2020 was correct. Assume the company uses a periodic Inventory system. Required: Prepare the journal entry needed in 2021 to correct the error, (ignore income taxes.) (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Since the $4.5 million purchase of merchandise was recorded in 2020 instead of 2021, a journal entry is needed in 2021 to correct the error.
The entry should reflect the correct recording of the purchase in the appropriate year.
The journal entry would be as follows:
Date: 2021
Inventory (Increase) $4.5 million
Accounts Payable (Decrease) $4.5 millionExplanation: The inventory account is increased to reflect the correct purchase of merchandise in 2021. The accounts payable account is decreased by the same amount to adjust for the correction of the timing of the purchase.
This entry ensures that the company's financial records accurately reflect the purchase in the correct accounting period.
Please note that the amounts in the journal entry are rounded to 1 decimal place (i.e., $4,500,000 is entered as $4.5 million).
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Successful negotiation relies heavily on planning in the preparation. As a purchasing manager, you are preparing your negotiations with a large supplier who has a strong market position and charged you outrageous prices for his products.
(a) Express your view of this assertion by explaining how you prepare for the negotiation to get the best out of the dealings with this supplier.
(b) Buyers may adopt Kraljic Purchasing Portfolio Matrix in negotiation. Summarize the characteristics of the four types of products that mentioned in the Matrix.
(a) plan the negotiation in advance, developing a strategy and tactics that will help achieve the desired outcome. The strategy should be based on the findings of the research and the BATNA.
(b) Critical Items: Items that are critical to the firm's operations and are difficult to substitute.
Strategic Items: Products that are critical to the company's success and that can be differentiated from those of competitors.
Leverage Items: Items that are plentiful in the market and can be sourced from various suppliers.
Bottleneck Items: Items that are in short supply and are critical to the company's operations.
(a) A negotiation is the process of reaching a mutually satisfactory agreement between two or more parties. It is a technique that purchasing managers use to obtain the best possible outcomes for their organizations. To prepare for a negotiation with a supplier who has a strong market position and is charging outrageous prices for his products, the following are steps that can be taken:
To begin, conduct research to determine the actual value of the product. This may involve comparing prices with other suppliers or conducting a cost analysis to identify where the supplier's prices are excessive. Gather as much information as possible about the supplier, such as its business practices, competition, and so on. This information can be used to determine the supplier's weaknesses, vulnerabilities, and strengths. Prior to the negotiation, determine the most favorable alternative to a negotiated agreement (BATNA). This is the alternative option if negotiations fail or if the outcome is unsatisfactory. Finally, plan the negotiation in advance, developing a strategy and tactics that will help achieve the desired outcome. The strategy should be based on the findings of the research and the BATNA.
(b) The Kraljic Purchasing Portfolio Matrix, named after Peter Kraljic, a consultant at McKinsey, is a procurement tool used by procurement teams to manage risk and optimize purchasing power. The four types of products that are mentioned in the matrix are as follows:
Critical Items: Items that are critical to the firm's operations and are difficult to substitute.
Strategic Items: Products that are critical to the company's success and that can be differentiated from those of competitors.
Leverage Items: Items that are plentiful in the market and can be sourced from various suppliers.
Bottleneck Items: Items that are in short supply and are critical to the company's operations.
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Using the following project information, calculate the variance for each of the project activities. Optimistic Time Estimate(weeks) Most Likely Time Estimates (weeks) Pessimistic Time Estimates (weeks) Immediate Predecessor(s) Activity A 2 3 Сл 5 none B 2.5 4 5 А с 5 7 00 8 A D 3 5 7 B.C E 3 6 14 B,C ח ד ם F 2 5 8 D G 4 5 6 E I Н. 6 6 8 F 1 5 7 10 G J 2 3 3 HI (Round your answers to 2 decimal places, e.g. 1.75.) Activity Variance A B с D E F G H Н. 1 J
To calculate the variance for each project activity, we can use the PERT (Program Evaluation and Review Technique) formula:
Variance = [(Pessimistic Time Estimate - Optimistic Time Estimate) / 6]^2
Let's calculate the variances for each activity based on the given data:
Activity A:
Variance = [((5 - 2) / 6)]^2 = 0.56
Activity B:
Variance = [((5 - 2.5) / 6)]^2 = 0.07
Activity C:
Variance = [((8 - 5) / 6)]^2 = 0.33
Activity D:
Variance = [((7 - 3) / 6)]^2 = 0.44
Activity E:
Variance = [((14 - 3) / 6)]^2 = 1.64
Activity F:
Variance = [((8 - 2) / 6)]^2 = 0.67
Activity G:
Variance = [((6 - 4) / 6)]^2 = 0.11
Activity H:
Variance = [((8 - 6) / 6)]^2 = 0.11
Activity I:
Variance = [((7 - 6) / 6)]^2 = 0.03
Activity J:
Variance = [((3 - 2) / 6)]^2 = 0.03
Now we have calculated the variances for each activity:
Activity Variance
A 0.56
B 0.07
C 0.33
D 0.44
E 1.64
F 0.67
G 0.11
H 0.11
I 0.03
J 0.03
Note: The variances are rounded to two decimal places as per the instructions.
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Imagine there are two countries that are identical, except for their marginal propensities to consume (MPC). They both experience the same decrease in consumption spending. Country A has a MPC=0.9 and Country B has a MPC=0.6. If both governments implement the same fiscal policy response will the effects be the same? Why/ why not?
Fiscal policy is a tool that governments can use to influence a country's economy. A country's marginal propensity to consume (MPC) refers to the percentage of income that people spend on goods and services. Countries' different MPCs can affect the impact of the same decrease in consumption spending if both governments apply the same fiscal policy response.
If Country A has an MPC of 0.9 and Country B has an MPC of 0.6, and both countries experience a similar decrease in consumption spending, the effects of the same fiscal policy response will not be the same.Explanation: When people in Country A lose 1 dollar of income, they would reduce consumption by 90 cents and increase savings by 10 cents, while people in Country B would only reduce consumption by 60 cents and increase savings by 40 cents. If the government of both countries applied the same fiscal policy response, such as increasing government spending, the effects would differ.
Government spending can help to raise aggregate demand and help to increase economic activity. However, in the case of Country A, with an MPC of 0.9, the government's spending would have a greater multiplier effect than it would in Country B, which has an MPC of 0.6. Thus, it is more likely that a fiscal policy will have a greater effect in Country A.
The reason is that people in Country A have higher spending rates and therefore more sensitive to changes in income, resulting in increased spending and higher multipliers. Hence, countries with different MPCs can impact the effectiveness of fiscal policy in response to a decrease in consumption spending.
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Explain the working of AHP by considering at least one
qualitative and one quantitative criteria while considering a
real-life scenario. Assume hypothetical values for Eigen value
computations.
The Analytic Hierarchy Process (AHP) is a decision-making technique that helps individuals or groups evaluate and prioritize alternatives based on multiple criteria.
It involves both qualitative and quantitative factors to make informed decisions Let's consider a real-life scenario of choosing a car for purchase and explore the working of AHP with one qualitative and one quantitative criterion.
Qualitative Criterion: Safety Rating
In this scenario, safety is an important qualitative criterion to consider when choosing a car. We can assign three car models, A, B, and C, with corresponding safety ratings as follows:
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Company XYZ is expected to pay a dividend of $4 in 2 years and a dividend of $6 in 3 years after which you expect dividends to grow at 5% for the foreseeable future. What would you expect the price of a share of stock to be today if XYZ's cost of equity capital is 18%? 1 (round to the nearest penny)
Answer: The expected price of a share of stock to be today if XYZ's cost of equity capital is 18% is $55.28.
Given information:Company XYZ is expected to pay a dividend of $4 in 2 years and a dividend of $6 in 3 years after which you expect dividends to grow at 5% for the foreseeable future. Cost of equity capital is 18%.The price of a share of stock today is equal to the present value of all future dividends. In order to calculate the present value of the future dividends, we need to use the formula for the present value of a growing perpetuity.Present Value of a Growing Perpetuity formula:
PV = D / (k - g)
Where:PV = Present ValueD = Dividendk = Required Rate of Returng = Dividend Growth RateNow, let’s plug in the given values into the formula
PV = ($4 / (1 + 0.18)²) + ($6 / (1 + 0.18)³) + ($6.3 / (0.18 - 0.05))
(Rounded to the nearest penny)
PV = ($4 / 1.3244) + ($6 / 1.5774) + ($6.3 / 0.13)PV = $3.02 + $3.80 + $48.46PV = $55.28
Therefore, the price of a share of stock today is expected to be $55.28.
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The Grief Store sells keepsake urns, cremation urns, funeral jewellery, and books on how to cope with the grief resulting from the death of a loved one. Which type of segmentation is the Grief Store using?
a.
family lifestyle segmentation
b.
lifestyle segmentation
c.
motive segmentation
d.
benefit segmentation
The type of segmentation that The Grief Store is using is Benefit segmentation.
Segmentation refers to the categorization of market groups that share common features, preferences, or behaviour. Segmentation is the process of identifying and segregating different groups of customers who might prefer different product characteristics, and then designing marketing campaigns and advertising to meet their needs. In the present case, the Grief Store sells keepsake urns, cremation urns, funeral jewellery, and books on how to cope with the grief resulting from the death of a loved one. Therefore, it can be concluded that the store is using benefit segmentation, as it has identified a specific group of people who are looking for a way to cope with the grief of losing a loved one. They sell products that will benefit this particular segment of people.
Therefore, option d is the correct answer.
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A consumer’s utility function, based on two goods x and y, are given by the following function: (x, y) = −x^2 − y^2 − 7x + y + 500. The consumer’s budget constraint is pxx + pyy = m → x + y = 25.
a. What are the prices of goods x and y? What is the consumer’s income?
b. Calculate the marginal utility of consuming good x if x = 6. Show your work.
c. Use the Lagrangian multiplier method to maximize U(x,y) with respect to the consumer’s budget constraint, and report the equilibrium values of x*, y*, and λ*.
d. Evaluate the utility function at the equilibrium values of x* and y* that you found in part a. Round your answer to 2 decimal places if necessary.
e. Suppose the consumer’s budget constraint changes to x + y = 30. Calculate the new utility-maximizing values of x and y using any optimization method you’d like (e.g., Lagrangian or direct/substitution/straightforward methods). By how much do the utility-maximizing values of x and y change? Show all work.
The marginal utility of consuming good x when x = 6 is -19.
a. to find the prices of goods x and y, as well as the consumer's income, we can rewrite the budget constraint equation as:
x + y = 25
since the budget constraint equation does not provide the prices directly, we need additional information. let's assume that px represents the price of good x and py represents the price of good y. to find the prices, we can set up a system of equations using the given budget constraint:
px * x + py * y = m
from the utility function, we know that m (income) is 500. substituting this value into the equation, we have:
px * x + py * y = 500
since the equation x + y = 25 represents the quantity of goods x and y consumed, we can set up the following system of equations:
px * x + py * y = 500
x + y = 25
solving this system of equations will give us the prices of goods x and y and the consumer's income.
b. to calculate the marginal utility of consuming good x when x = 6, we need to take the partial derivative of the utility function with respect to x:
∂u/∂x = -2x - 7
substituting x = 6 into the derivative equation:
∂u/∂x = -2(6) - 7 = -12 - 7 = -19 c. to maximize u(x,y) with respect to the consumer's budget constraint, we can use the lagrangian multiplier method. the lagrangian function is defined as:
l(x, y, λ) = -x² - y² - 7x + y + 500 + λ(x + y - 25)
to find the equilibrium values, we need to take the partial derivatives of l with respect to x, y, and λ and set them equal to zero:
∂l/∂x = -2x - 7 + λ = 0
∂l/∂y = -2y + 1 + λ = 0
∂l/∂λ = x + y - 25 = 0
solving these three equations simultaneously will give us the equilibrium values of x*, y*, and λ*.
d. once we find the equilibrium values of x*, y*, and λ*, we can evaluate the utility function at those values to determine the consumer's utility. substituting the equilibrium values into the utility function:
u(x*, y*) = -(x*)² - (y*)² - 7(x*) + (y*) + 500
evaluate this expression to find the consumer's utility.
e. to find the new utility-maximizing values of x and y when the budget constraint changes to x + y = 30, you can use the same optimization method (lagrangian or direct/substitution/straightforward) as in part c. solve the new system of equations to obtain the new equilibrium values of x* and y*. calculate the difference between the new values and the previous values to determine the change in the utility-maximizing values of x and y.
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During the first year of operations, Delta Corporation entered in to the following transactions relating to shareholders' equity. the articles of corporation authorized the issue of 8 million ordinary shares $1par per share. And 1 million preference shares, $ 50 par per share Required: Prepare the appropriate journal entries to record each transaction. Feb. 12 sold 2 million ordinary shares for $ 9 per share 13 issued 40,000 ordinary shares to attorneys in exchange for legal services 13 sold 80,000 of its ordinary shares and 4,000 preference shares for a total of $ 945,000.
The following are the required journal entries to record the transactions relating to shareholders' equity as described.
Given
common shares = $1 par value
Preference shares = $50 per share
authorized common shares = 8 million
authorized preference shares = 1 million
Feb. 12 sold 2 million ordinary shares for $ 9 per share 13 issued 40,000 ordinary shares to attorneys in exchange for legal services 13 sold 80,000 of its ordinary shares and 4,000 preference shares for a total of $ 945,000Required to pass the journal entries for the mentioned above transaction.
Date Particular Debit Credit
Feb. 12
Cash $18,000,000
Common Stock $2,000,000
Additional Paid-in Capital $16,000,000
Feb. 13
Legal Expense $40,000
Common Stock $40,000
Feb. 13
Cash $945,000
Common Stock $80,000
Additional Paid-in Capital $665,000
Preferred Stock $200,000
These journal entries record the transactions relating to shareholders' equity as described.
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The following passengers had purchased a ticket for an international flight commencing in New York and terminating in Athens, via stopovers in Amsterdam, Madrid and Rome. Mrs. Punchanella Bleecher a famous recording artist while walking to the departure lounge fell in a pool of water caused by a leaking Air Conditioner unit. Due to how severe her fall was she had to be rushed to the New York General Hospital. Punchanella Bleecher fractured her hand, the doctors were able to treat her and discharge her within two hours. As a result of missing her flight she missed the Jamekya stage show she was scheduled to perform at in Rome. Mr. Braffin King while walking to his seat onboard the aircraft trips over a passenger’s foot. He falls to the ground hitting his head on an armrest. He gets a severe cut to the chin and is rushed to hospital where stiches are required. He is kept in hospital for 24 hours for observation then sent home. Mrs. Iclyn Nuff, while the "fasten seat belt" sign was lighted, got up from her seat and proceeded to the rear toward the open door of the aircraft in order to wave a farewell to her daughter. At that moment, the ramp or loading stairs were being pulled away from the plane by employees of the Air Carrier. Ms. Mary in the act of waving goodbye step out on where the ramp should have been and fell breaking her leg. Mr. Al Koholic is a recent widower and is going to Rome to rekindle an old flame. While on flight the Ms. Fara Fassy a passenger notices that Mr. Al Kohloic has had 4 rum mixes in two hours. She notices he fell asleep but when she tries to wake him for her to pass to go to the toilet she realizes he is unresponsive. The stewardess calls for a doctor. He is wrongfully diagnosed and suffers major irreparable damage to his lungs. He is able to be assisted and walks from the aircraft. You are required to Identify (a) the possible issues of each passenger (b) identify each passenger’s potential claimand to whom that claim my be made (c) Using the applicable law/ convention discuss any two passengers rights .
The possible issues faced by the passengers include Slip and fall, Trip and fall over, Wrongfully diagnosed. Potential claims include Personal injury, Medical malpractice. The two passenger rights are Right to safe transportation and Right to medical assistance.
(a) Mrs. Punchanella Bleecher: Slip and fall due to a leaking air conditioner, resulting in a fractured hand.
Mr. Braffin King: Trip and fall over another passenger's foot, resulting in a severe cut to the chin.
Mrs. Iclyn Nuff: Fell while attempting to wave goodbye from the aircraft, breaking her leg.
Mr. Al Koholic: Wrongfully diagnosed and suffers irreparable damage to his lungs after consuming alcohol on the flight.
(b) Potential claims:
Mrs. Punchanella Bleecher: Personal injury claim against the airline or the entity responsible for maintaining the air conditioner unit.
Mr. Braffin King: Personal injury claim against the airline or the passenger whose foot caused the fall.
Mrs. Iclyn Nuff: Personal injury claim against the airline or the employees responsible for removing the ramp or loading stairs.
Mr. Al Koholic: Medical malpractice claim against the doctor or medical staff who wrongfully diagnosed him.
(c) Passenger rights:
Right to safe transportation: Passengers have the right to be protected from unsafe conditions or actions that may cause harm, such as leaking air conditioner units or hazards in the aircraft.
Right to medical assistance: Passengers have the right to receive prompt and appropriate medical attention in case of injuries or health issues during a flight.
These rights are often protected by international conventions, such as the Montreal Convention, which governs the liability of airlines in case of passenger injury or death during international flights. The specific applicability and legal recourse will depend on the jurisdiction and the circumstances of each case.
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Which of the following is considered a reason why Platform-based business is distinctive from pipeline-based business? That is, platform-based business O emphasizes resource ownership, rather than resource orchestration O requires more attention to rivals' competitive attacks o highlights the importance of external interaction over internal optimization O focuses on both of product value and ecosystem value
A Platform-based business is distinctive from pipeline-based business because it highlights the importance of external interaction over internal optimization.
Hence, the correct option is highlighted below.O highlights the importance of external interaction over internal optimizationThe following are the reasons why Platform-based business is distinctive from pipeline-based business:Emphasizes resource ownership:Platform-based business emphasizes resource ownership, not resource orchestration. Unlike pipeline-based business, which focuses on supply chain management and efficient production, platform-based business is more interested in owning its resources.Importance of external interaction:Another reason why Platform-based business is distinctive is that it highlights the importance of external interaction. Unlike pipeline-based business, which prioritizes internal optimization, platform-based business focuses on interactions between itself and its stakeholders, including customers, partners, and suppliers. Platform-based businesses see these external interactions as key to building their ecosystems, which are essential to their success.Product value and ecosystem value:Platform-based business focuses on both product value and ecosystem value, whereas pipeline-based business focuses on product value alone. In order to succeed, a platform-based business must not only create a high-quality product or service but also develop an ecosystem that supports that product or service. This ecosystem must be attractive to other stakeholders who can help the business grow, including partners, customers, and suppliers.
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Assignment Content
Once your faculty marks this activity as complete in the gradebook, the Competency Assessment will open for you to submit.
Reflection
Competency 3: Analyze organizational global supply chain.
This reflection activity is comprised of two sections, collectively totaling a minimum of 500 words. Complete your reflections by responding to all prompts.
Theory of Constraints
Describe an example where Theory of Constraints (TOC) was successfully applied to improve a process, or where you saw the potential for TOC to improve the process, in either a company you worked for or a company you were a customer at.
What is the Lean concept and why is it important to study? How can Lean be applied to manufacturing and service processes?
What is work center scheduling and why is it important for firms to focus on?
Supply Chain Strategies
Choose 2 supply chain strategies aimed to improve organizational performance and enhance competitiveness.
Explain each strategy, and give an example of an organization that has used each type of strategy. Was each strategy successful? Why or why not?
Submit your reflection.
For the Theory of Constraints (TOC) portion of your reflection, you can start by describing an example where TOC was successfully applied to improve a process.
This could be a situation where a company identified a bottleneck or constraint in their production process and used TOC principles to alleviate the constraint and improve overall system performance. Alternatively, you can describe a situation where you saw the potential for TOC to improve a process but it was not fully implemented.
Next, you can explain the concept of Lean and why it is important to study. Lean is a methodology focused on eliminating waste and improving efficiency in processes. It emphasizes continuous improvement, respect for people, and the pursuit of perfection. It is important to study because it provides tools and techniques that can help organizations streamline their operations, reduce costs, and enhance customer value. You can then discuss how Lean can be applied to both manufacturing and service processes, highlighting the key principles and practices involved.
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With imposition of new taxes, the supply curve is expected to a. Decrease, becomes flat b. Stays the same c. Increase, shifts to the right d. Increase, becomes vertical e. Decrease, shifts to the left
With the imposition of new taxes, the supply curve is expected to shift to the left, which means that it will decrease. Therefore, the correct option is e. Decrease, shifts to the left.
In economics, the supply curve is used to represent the quantity of a product or service that a seller is willing to offer to the market at a given price. A change in any variable that influences the quantity supplied can shift the supply curve to the right or left.New taxes are one of the factors that can cause a shift in the supply curve. This is because taxes increase the cost of production for sellers, thus reducing their profit margins. The higher the tax, the higher the cost of production, and the lower the quantity that suppliers are willing to offer at each price level. As a result, the supply curve shifts to the left.
The imposition of new taxes can have significant impacts on the supply curve of goods and services. Taxes can be a major factor in determining the level of production and the quantity of goods and services that are offered in the market.In general, the imposition of new taxes can lead to a decrease in the quantity supplied. This is because taxes increase the costs of production for sellers, reducing their profits. This reduction in profits can lead to lower levels of production, as producers reduce the amount of goods and services that they supply to the market.A decrease in the quantity supplied causes the supply curve to shift to the left. This is because a lower quantity is supplied at each price level. The shift to the left means that the supply curve has moved upward and inward, indicating that sellers are willing to offer fewer goods and services at each price level.In contrast, if taxes are reduced or eliminated, the supply curve will shift to the right. This is because reduce the cost of production, increasing the profits of sellers and encouraging them to supply more goods and services to the lower taxes market. This shift to the right means that the supply curve has moved downward and outward, indicating that sellers are willing to offer more goods and services at each price level.
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The following comparative balance sheet is given for Estern Co.: Assets Dec 31, 2021 Cash $117,000 Notes Receivable 24,000 Supplies & Inventory 27,000 Prepaid expense 10,500 Long-term investments 0 Machines and tools 55,500 (21,000) Accumulated depreciation-equipment Total Assets $213,000 Liabilities & Stockholders' Equity Accounts payable $ 25,500 Bonds payable (long-term) 55,500 Common Stock 60,000 Retained Earnings 72,000 Total Liabilities & Stockholders' $213,000 Equity Dec 31, 2020 $19,500 21,000 40,500 18,000 27,000 48,000 (15,000) $159,000 $ 10,500 70,500 34,500 43,500 $159,000 Income Statement Information (2021): 1. Net income for the year ending December 31, 2021 is $43,500 2. Depreciation expense is $6,000 3. There is a loss of $3,000 resulted from the sale of long-term investment Additional information (2021): 1. All sales and purchases of inventory are on account (or credit). 2. Received cash for the sale of long-term investments that had a cost of $27,000. yielding a $3,000 loss. 3. Cash dividends paid is $15,000. 4. The company purchased new machines and tools for $7,500 cash. Required: Prepare the FIRST (Operating) and the SECOND (Investing) sections of the statement of cash flows for the year ended December 31, 2021.
To prepare the first (Operating) and second (Investing) sections of the statement of cash flows for the year ended December 31, 2021, we need to analyze the changes in the balance sheet accounts and incorporate the provided income statement information and additional information. Here is the breakdown:
First (Operating) Section:
Net Income: $43,500
Adjustments:
Add Depreciation Expense: $6,000
Subtract Loss from the Sale of Long-term Investment: $3,000
Net Cash provided by Operating Activities: $46,500
Second (Investing) Section:
Cash received from the sale of long-term investments: $27,000
(This is already given in the additional information.)
Cash used for the purchase of machines and tools: $7,500
(This is already given in the additional information.)
Net Cash used in Investing Activities: $19,500
Overall, the statement of cash flows for the year ended December 31, 2021, would show:
Cash provided by Operating Activities: $46,500
Cash used in Investing Activities: $19,500
Please note that the statement of cash flows may require additional information from the balance sheet and income statement to prepare the complete statement. The information provided in the question is limited, and other cash flow activities (such as financing activities) might need to be included in a comprehensive statement of cash flows.
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Recognizing pension expense during an employee's service years rather than during retirement represents an application of ____ the costs with the benefits provided.
Recognizing pension expense during an employee's service years rather than during retirement represents an application of matching principle, which aims to match the costs with the benefits provided.
Recognizing pension expense during an employee's service years rather than during retirement is an application of the matching principle in accounting. The matching principle states that expenses should be recognized in the same period as the related revenues or benefits.
By recognizing pension expense during an employee's service years, the company is aligning the recognition of the cost with the period in which the employee is providing services and earning the pension benefit. This approach ensures that the expenses associated with the pension benefit are matched with the corresponding revenue-generating period.
This method of recognizing pension expense reflects a more accurate representation of the financial performance and obligations of the company. It provides a clearer picture of the cost associated with employing the workforce and allows for better decision-making regarding employee compensation and retirement benefits.
Therefore, recognizing pension expense during an employee's service years instead of during retirement demonstrates the application of the matching principle. This approach helps in properly matching the costs with the benefits provided, leading to more accurate financial reporting and informed decision-making.
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2. Consider a model with two countries, France and Germany. France exports wine to Germany. and Germany exports beer to France. In each country, the demand for wine is given by the demand curve Q = 100 - pW, where QP is the quantity demanded and pW is the price of wine. In each country, the demand for beer is given by the same demand curve, i.e., QP = 100 -- pB, where QP is the quantity demanded and p3 is the price of beer. The supply of wine in France is given by QS = The supply of beer in France is given by Q = p3, and the supply of beer in Germany is given by QS = 2p3. Suppose the government of France imposes a $10 per unit import tax on beer. Find the world price of beer, the domestic price in France, and the tariff revenue collected by the French government under this policy.
The import tax revenue collected by the French government under this policy is $500.
France exports wine to Germany and Germany exports beer to France. Demand for wine is given by the demand curve Q = 100 - pW and the demand for beer is given by the same demand curve, QP = 100 - pB.
Supply of wine in France is given by QS and supply of beer in France is given by Q = pB, and the supply of beer in Germany is given by QS = 2pB.The price is determined by equilibrium of demand and supply. The equilibrium quantity demanded in each country is 50 and the equilibrium price is $50 in both countries.
Let's determine the domestic price in France and the world price of beer.Domestic price of beer in France : pB - $10The supply of beer in France is given by Q = pB.
As the supply curve is linear and passes through the point (0, 0), the supply curve equation can be obtained as follows:
Q = pBQS = Q + 10 = pB + 10
At the equilibrium point, QS = QDQS = QD = 50pB = 50pB + 10pB = 60
The domestic price of beer in France is $60.World price of beer: $50
Therefore, in France, the import tax revenue is given by:$10 × 50 = $500
Revenue = Tariff × Quantity Imported.
The import tax revenue collected by the French government under this policy is $500.
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RFID offers participants in the supply chain a powerful tool for tracking inventories and reducing handling. The main reason why it has NOT been more widely adopted is
RFID offers participants in the supply chain a powerful tool for tracking inventories and reducing handling. The main reason why it has NOT been more widely adopted is because of the high implementation costs and concerns about privacy and security.
RFID or Radio-Frequency Identification is a type of wireless technology used to transfer data by the means of radio waves. This technology is used for tracking assets, people, or animals. RFID offers participants in the supply chain a powerful tool for tracking inventories and reducing handling. The supply chain management system helps the manufacturers to manage their inventory more efficiently.
Therefore, the RFID system must be designed with appropriate privacy and security measures to ensure that only authorized users can access the data on the tags. Additionally, the high cost of implementation is another reason why the RFID system is not widely adopted. Installing RFID technology is not just about purchasing the hardware and software. It is also about integrating the system with existing systems, providing employee training, and upgrading the infrastructure to support the new technology.
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ABC Corp. issued $100,000 of bonds at a premium; as a result, the company: A) received more than $100,000. B) received less than $100,000. C) received $100,000. D) will pay the bondholders more money on the maturity date than it received on the issue date.
ABC Corp. issued $100,000 of bonds at a premium; as a result, the company option A) received more than $100,000.
A bond premium is a situation where a bond's selling price is higher than its par value. The bond premium is the amount by which the bond price exceeds its face value. This phenomenon occurs when the interest rate on the bond is lower than the market interest rate, making it an attractive investment. ABC Corp. issued $100,000 of bonds at a premium. Therefore, the company received more than $100,000. The company would receive more money than the face value of the bond if the bonds were issued at a premium. A bond premium would indicate that the bond's interest rate is lower than the market interest rate, making it an attractive investment. Therefore, option A is correct. ABC Corp. received more than $100,000.
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