The three assumptions about the nature of the non-profit organisation which will govern the plans you selected are limited budget , different financial needs several ,users to access the accounting system to manage its finances.
Two cloud-based accounting systems which the non-profit organisation may consider using are QuickBooks Online and Xero.
QuickBooks Online Pricing Plans Simple Start: $25/month ,Essentials: $40/month, Plus: $70/month, Advanced: $150/month, Xero Pricing Plans Early: $9/month, Growing: $30/month, Established: $60/month Xero is a good cloud-based accounting system that caters to small businesses, accountants, and bookkeepers.
It provides unlimited users for all its pricing plans, making it ideal for non-profit organisations that require several users.
QuickBooks Online is another system that provides an online platform for businesses to manage their finances. It comes with the option of self-service or assisted services depending on the needs of the organisation.
3.1 List three assumptions about the nature of the non-profit organisation that will govern the plans you selected.
Assumption 1: The non-profit organisation may have a limited budget that influences its choice of pricing plans.
Assumption 2: The non-profit organisation may have different financial needs, which will require different accounting features and reports
.Assumption 3: The non-profit organisation may require several users to access the accounting system to manage its finances, which will influence its choice of pricing plan.
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Beginning three months from now, you want to be able to withdraw $3,800 each quarter from your bank account to cover college expenses over the next four years. If the account pays .78 percent interest per quarter, how much do you need to have in your bank account today to meet your expense needs over the next four years?
To meet the expense needs over the next four years, you would need approximately $60,098.02 in your bank account today.
To calculate the amount needed, we can use the concept of present value. We want to find the present value of the future cash flows, which in this case is the series of quarterly withdrawals of $3,800 over four years. The interest rate per quarter is 0.78%. Using a financial calculator or a present value formula, we can calculate the present value as follows:
PV = CF * (1 - (1 + r)^(-n)) / r
Where PV is the present value, CF is the cash flow per period, r is the interest rate per period, and n is the total number of periods. Plugging in the values, we have:
PV = $3,800 * (1 - (1 + 0.0078)^(-16)) / 0.0078 ≈ $60,098.02
Therefore, you would need approximately $60,098.02 in your bank account today to meet your expense needs over the next four years.
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Using Case Study: On the Spot Courier Services
1. Using information from chapter 8 and previous information from the running case study paragraphs over the previous chapters, list at least five domain model classes that form the core functionality of the system.
On the Spot Courier Services: Domain model classesThe Domain model classes that form the core functionality of On the Spot Courier Services include: 1. Customer: The customer is a critical domain model class since it is the service provided to the customer, and the customer is the focus of the service.
Therefore, the customer is a domain model class that must be appropriately and accurately represented in the system.2. Order: The domain model class 'Order' is the fundamental domain model class since it is the basis of all the services provided by On the Spot Courier Services. An order must be accurately represented in the system, and its functionality should be as per the requirement.3. Pick-up and Delivery: These two domain model classes are fundamental since they are the actions that take place when an order is placed.
4. Courier/Driver: The courier/driver is an essential domain model class since they perform the pick-up and delivery actions.5. Payment: Payment is a crucial domain model class since it is the primary method by which On the Spot Courier Services is monetized. Therefore, it must be accurately represented and properly implemented in the system. These domain model classes are fundamental to the functionality of On the Spot Courier Services and must be accurately represented in the system.
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Write a 1000 - 1200 words paper, which analyzes the following EMTALA case study. Assess whether EMTALA violations have taken place or whether applicable exceptions exist.
One Saturday night, Mrs. Smith presented to Knoxville County Hospital’s emergency room talking to herself in a high-pitched wail and was alternately crying and laughing hysterically. A psychiatrist was brought in to examine her. The psychiatrist diagnosed bi-polar disorder, for which she had been previously treated, but was not taking her medication. The hospital’s mental health unit had no available beds, so the psychiatrist recommended that the patient be admitted to another part of the hospital. This decision was overridden by the Chief Medical Officer, who agreed with the psychiatrist’s general diagnosis but did not view the patient as presenting a threat of harm to herself or others. The Chief Medical Officer ordered the patient’s immediate discharge from the hospital.
The psychiatrist followed the Chief Medical Officer's directive and set up a follow-up appointment with Mrs. Smith for the following Wednesday and then discharged her. Mrs. Smith was killed Wednesday afternoon when the car she was driving, at excessive speed, collided with another vehicle. Mrs. Smith's husband sued the hospital under EMTALA for discharging the patient when she was still in an emergency medical condition.
Prepare a ruling on the case and give your reasons. Be sure to state, discuss, and apply EMTALA principles in your ruling.
Note: A brief is a document that includes the facts, statement of the issues, and statement of the applicable laws. It also analyzes the facts and presents a ruling or decision and provides reasons to justify the same. Template is provided below and use it to write your brief.
Considering the facts and principles of EMTALA, it is ruled that the hospital did not violate EMTALA when discharging Mrs. Smith. The hospital provided a medical screening examination and determined that she did not pose a threat of harm to herself or others. No applicable exceptions were present to justify further treatment or admission.
Title: EMTALA Case Analysis: Mrs. Smith's Discharge from Knoxville County Hospital
Facts:
- Mrs. Smith presented to Knoxville County Hospital's emergency room displaying symptoms of bi-polar disorder.
- The psychiatrist diagnosed her condition and recommended admission to another part of the hospital due to the unavailability of mental health beds.
- The Chief Medical Officer overrode the psychiatrist's recommendation and discharged Mrs. Smith, as she was deemed not to pose a threat of harm to herself or others.
- Mrs. Smith was involved in a fatal car accident a few days later, and her husband sued the hospital under EMTALA for discharging her while still in an emergency medical condition.
Issues:
1. Did the hospital's discharge of Mrs. Smith violate the Emergency Medical Treatment and Labor Act (EMTALA)?
2. Are there any applicable exceptions under EMTALA that justify the hospital's actions?
Ruling:
In this case, it can be determined that the hospital's discharge of Mrs. Smith did not violate EMTALA. The following reasons support this ruling:
1. EMTALA Violation Assessment:
EMTALA requires hospitals to provide an appropriate medical screening examination to individuals who present to the emergency room with an emergency medical condition. It also prohibits the transfer or discharge of patients in unstable conditions without ensuring necessary stabilizing treatment.
In Mrs. Smith's case, the hospital did provide a medical screening examination through the psychiatrist's assessment. The diagnosis of bi-polar disorder indicated the presence of a medical condition. However, the hospital determined that she did not pose a threat of harm to herself or others, which influenced the Chief Medical Officer's decision to discharge her. As her condition was stable at the time of discharge, there was no violation of EMTALA in this regard.
2. Applicable Exception Assessment:
Under EMTALA, there are certain exceptions that may justify the discharge of a patient even if they have an emergency medical condition. One such exception is when a patient refuses treatment after being informed of the risks and consequences. However, there is no indication in the provided case study that Mrs. Smith refused treatment or was informed of the risks associated with her condition.
Based on the information provided, no applicable exceptions under EMTALA can be identified that would justify the hospital's actions.
Conclusion:
Considering the facts and principles of EMTALA, it is ruled that the hospital did not violate EMTALA when discharging Mrs. Smith. The hospital provided a medical screening examination and determined that she did not pose a threat of harm to herself or others. No applicable exceptions were present to justify further treatment or admission.
It is important to note that EMTALA rulings are highly dependent on specific circumstances and additional legal analysis may be necessary for a comprehensive assessment of the case.
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Consider two economies: NORTH and SOUTH. Both are described by a neoclassical Cobb- Douglas production function: Y = 2(K)⁰,5 (AN)05. Both have the same population growth rates, depreciation rates, and rates of technological progress, but they have different saving rates. In particular: In NORTH the saving rate is s=0,6; the rate of population growth n=0,01; the depreciation rate is d=0,005 and the rate of technological progress is g=0,025. In SOUTH, the saving rate is s=0,5; the rate of population growth n=0,01; the depreciation rate is d=0,005 and the rate of technological progress is g-0,025. a) Calculate the steady-state value of capital and production per effective worker in the SOUTH country. (3p). b) Assume that in NORTH and SOUTH, in time t=1, the current level of capital per effective worker is equal to 100 (₁ = 100). In which country the current growth rate of capital per effective worker will be higher? Explain referring to a Solow model graph.
In the steady state, the capital stock per effective worker (k) remains constant.
The saving rate in the NORTH country is higher (s = 0.6) compared to the SOUTH country (s = 0.5). This is because a higher saving rate leads to more investment, which contributes to a higher growth rate of capital per effective worker in the Solow model
To calculate the steady-state value of capital per effective worker in the SOUTH country, we can use the neoclassical Cobb-Douglas production function. The production function is given as Y = 2(K^0.5)(AN^0.5), where Y represents output, K is the capital stock, A is the level of technology, and N is the effective labor force.
In the steady state, the capital stock per effective worker (k) remains constant. At this point, investment (sY) equals depreciation (dK), so we have sY = dK. Using the given values, we can calculate the steady-state value of k.
In the SOUTH country, the saving rate (s) is 0.5, population growth rate (n) is 0.01, depreciation rate (d) is 0.005, and the rate of technological progress (g) is 0.025. By plugging these values into the relevant equations, we can determine the steady-state value of k.
Similarly, the production per effective worker (y) can be calculated in the steady state by substituting the steady-state value of k into the production function.
Moving on to the comparison of the current growth rate of capital per effective worker in the NORTH and SOUTH countries, we can refer to a Solow model graph. In the Solow model, the growth rate of capital per effective worker depends on the saving rate (s) and the difference between the depreciation rate (d) and the population growth rate (n). The formula for the growth rate of capital per effective worker is (s - (n + d)) × k.
In this case, the saving rate in the NORTH country is higher (s = 0.6) compared to the SOUTH country (s = 0.5). Therefore, the NORTH country will experience a higher current growth rate of capital per effective worker. This is because a higher saving rate leads to more investment, which contributes to a higher growth rate of capital per effective worker in the Solow model.
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Suppose you bought a year ago a $10,000 ten-year treasury note with $400 annual coupon, i.e., interest rate of 4% per annum compounded annually. You have already received the first coupon payment, so you are holding in effect a $10,000 treasury note with nine-year maturity. Suppose further that the market interest rate on nine-year treasury notes has now gone up to 5% (again, per annum with annual compounding) What is your treasury note worth? How much would it be worth if the interest rate had instead gone down to 3% ?
The value of a treasury note is influenced by changes in interest rates. When market interest rates increase, the value of existing fixed-rate bonds decreases, and vice versa. To calculate the value of the treasury note under different interest rate scenarios, we can use the concept of present value.
1. Market interest rate of 5%:
With a market interest rate of 5%, higher than the coupon rate of 4%, the value of the treasury note decreases. We can calculate the present value of the remaining cash flows (coupon payments and the principal) using the market interest rate of 5%.
To calculate the present value of the cash flows, we can use the formula:
PV = C / (1 + r)^n + C / (1 + r)^(n-1) + ... + C / (1 + r) + M / (1 + r)^n
where PV is the present value, C is the coupon payment, r is the market interest rate, n is the remaining years, and M is the maturity value.
In this case, the coupon payment (C) is $400, the market interest rate (r) is 5%, the remaining years (n) is 9, and the maturity value (M) is $10,000.
Calculating the present value:
PV = $400 / (1 + 0.05)^1 + $400 / (1 + 0.05)^2 + ... + $400 / (1 + 0.05)^9 + $10,000 / (1 + 0.05)^9
Using this formula, we find that the present value of the treasury note is approximately $9,425.89.
2. Market interest rate of 3%:
With a market interest rate of 3%, lower than the coupon rate of 4%, the value of the treasury note increases. Using the same present value formula and substituting the market interest rate of 3%, we can calculate the new present value.
PV = $400 / (1 + 0.03)^1 + $400 / (1 + 0.03)^2 + ... + $400 / (1 + 0.03)^9 + $10,000 / (1 + 0.03)^9
Using this formula, we find that the present value of the treasury note is approximately $10,467.34.
Therefore, when the market interest rate is 5%, the treasury note is worth around $9,425.89, and when the market interest rate is 3%, the treasury note is worth approximately $10,467.34.
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Aylmer Inc. has 11,600 no par value $0.80 preferred shares issued for $100,000 and 40,000 no par value common shares issued for $30,000.No dividends were paid or declared during Y2 and Y3. The company wants to distribute $65,800 in dividends on December 31, Y4.
Required:
a) Calculate the amount of dividends to be paid to each group of shareholders (i.e. preferred and common), assuming the preferred shares are non-cumulative and non-participating b) Calculate the amount of dividends to be paid to each group of shareholders (i.e. preferred and common), assuming the preferred shares are cumulative and fully participating.
Assuming the preferred shares are non-cumulative and non-participating, the dividends will be paid to the preferred shareholders first, up to the amount of their preference, and any remaining dividends will be distributed to the common shareholders.
Preferred Shares:
The preferred shares have a total value of $100,000, and there are 11,600 shares.
Preference per share = $100,000 / 11,600 = $8.62 per share
Dividends to be paid to preferred shareholders:
Preferred dividend = Preference per share * Number of preferred shares
Preferred dividend = $8.62 * 11,600 = $100,192
Common Shares:
The remaining dividends will be distributed to the common shareholders after paying the preferred shareholders.
Total dividends available for common shareholders = Total dividends - Preferred dividend
Total dividends available for common shareholders = $65,800 - $100,192 = -$34,392 (negative value)
Since the available dividends are negative, it means there are not enough funds to pay any dividends to the common shareholders in this case.
Preferred Shares:
Since the preferred shares are cumulative, any unpaid dividends from previous years need to be considered.
Dividends in arrears = Preference per share * Number of preferred shares * Number of years of unpaid dividends
Dividends in arrears = $8.62 * 11,600 * 2 (assuming Y2 and Y3) = $200,864
Total preference for preferred shareholders = Preferred dividend + Dividends in arrears
Total preference for preferred shareholders = $100,192 + $200,864 = $301,056
Dividends to be paid to preferred shareholders:
Preferred dividend = Minimum of (Total dividends available, Total preference)
Preferred dividend = Minimum of ($65,800, $301,056) = $65,800
Common Shares:
Total dividends available for common shareholders = Total dividends - Preferred dividend
Total dividends available for common shareholders = $65,800 - $65,800 = $0
Therefore, the amount of dividends to be paid to each group of shareholders, assuming the preferred shares are cumulative and fully participating, is $65,800 to the preferred shareholder.
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The Cornelius Company has an ROE of 15 percent and a payout ratio of 40 percent. What is the company’s sustainable growth rate?
The sustainable growth rate of the Cornelius Company can be calculated using the formula: Sustainable Growth Rate = Return on Equity (ROE) × (1 - Payout Ratio). With an ROE of 15 percent and a payout ratio of 40 percent, the company's sustainable growth rate is 9 percent.
The sustainable growth rate measures the maximum rate at which a company can grow without increasing its debt or issuing additional equity. It takes into account the company's profitability (ROE) and the portion of earnings retained by the company (1 - Payout Ratio).
In this case, the Cornelius Company has an ROE of 15 percent, which means that for every dollar of equity invested, the company generates 15 cents in profit. The payout ratio is 40 percent, indicating that 40 percent of the earnings are distributed as dividends, while the remaining 60 percent is retained by the company.
To calculate the sustainable growth rate, we multiply the ROE by (1 - Payout Ratio). In this case, the calculation is: 0.15 × (1 - 0.4) = 0.15 × 0.6 = 0.09 or 9 percent.
Therefore, the Cornelius Company's sustainable growth rate is 9 percent. This means that the company can grow its earnings and dividends by approximately 9 percent per year without needing to rely on external financing or significantly increasing its debt.
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the main benefits of inward fdi for a host country arise from:
The main benefits of inward FDI for a host country arise from increased capital inflows, technology transfer, job creation, and economic growth.
Foreign Direct Investment (FDI) can bring several advantages to the host country. Firstly, it leads to increased capital inflows, which can contribute to the development of infrastructure, industries, and businesses. This infusion of capital can stimulate economic growth and create new opportunities for domestic companies.
Secondly, inward FDI facilitates technology transfer. Multinational corporations often bring advanced technologies, expertise, and knowledge to the host country, which can enhance local industries' productivity and competitiveness. This transfer of technology can lead to innovation and the development of new industries.
Thirdly, FDI is known to generate employment opportunities in the host country. When foreign companies invest and establish operations, they create jobs for the local workforce.
This can help reduce unemployment rates, improve living standards, and enhance the overall economic well-being of the host country.
Lastly, the presence of foreign investors and businesses can foster a favorable investment climate and attract more foreign investment. This can lead to a virtuous cycle of increased FDI, economic development, and improved international competitiveness.
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Complete Question:
What are the main benefits that a host country can derive from inward Foreign Direct Investment (FDI)?
Camp Provisions Co. has a bond issue outstanding with an annual coupon rate of 8% and 20 years remaining until maturity. The par value of the bond is $1,000. Determine the current value of the bond if present market conditions justify a 12% required rate of return.
The current value of the bond is $2,255.06.
Given data Annual coupon rate = 8%Par value of the bond = $1,000Remaining years = 20 yearsMarket conditions rate = 12%Required to find the current value of the bond.SolutionFirst, we can calculate the semiannual coupon rate. It is as follows:Semiannual coupon rate = Annual coupon rate / 2Semiannual coupon rate = 8% / 2Semiannual coupon rate = 4%Next, we can calculate the number of semiannual periods the bond has.Number of semiannual periods = 20 years × 2Number of semiannual periods = 40 periodsNow, we can calculate the current value of the bond.Current value of the bond = [PMT × (1 - 1 / (1 + i)n) / i] + [FV / (1 + i)n]PMT = Semiannual coupon payment = Par value of the bond × Semiannual coupon ratePMT = $1,000 × 4%PMT = $40i = Semiannual discount rate = Required rate of return / 2i = 12% / 2i = 6%n = Number of semiannual periods = 40 periodsFV = Par value of the bond = $1,000Now, let's substitute the values and calculate.Current value of the bond = [$40 × (1 - 1 / (1 + 6%)40) / 6%] + [$1,000 / (1 + 6%)40]Current value of the bond = [$40 × (1 - 1 / 4.38) / 0.06] + [$1,000 / 4.38]Current value of the bond = [$40 × 3.3769 / 0.06] + [$228.92]Current value of the bond = [$2,026.14] + [$228.92]Current value of the bond = $2,255.06Therefore, the current value of the bond is $2,255.06.
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When discussing the author’s intention of wanting to create emotions of happiness, sadness, or fear in the reader, we are discussing the ______________ of the story.
When discussing the author's intention of wanting to create emotions of happiness, sadness, or fear in the reader, we are discussing the emotional impact of the story.
The emotional impact refers to the effect that the story's content, characters, and events have on the reader's emotions and the overall emotional experience that the author intends to evoke. By employing various literary techniques such as vivid descriptions, compelling storytelling, and relatable characters, authors aim to engage readers emotionally and elicit specific emotional responses that contribute to the overall impact and meaning of the story. The emotional impact can greatly enhance the reader's connection to the narrative and make the story more memorable and impactful.
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Remember to write a substantial answer. Your answer must be at LEAST 150 words and please give examples.
Does changing one behavior make it easier to change other behaviors?
What self-management skills do you need to work on to modify personal behaviors?
Changing one behavior can create a positive ripple effect, making it easier to modify other behaviors; self-management skills such as self-awareness, self-regulation, goal setting, and self-motivation are key in modifying personal behaviors.
Changing one behavior can indeed make it easier to change other behaviors. This phenomenon is often referred to as the "domino effect" or the "ripple effect." When we successfully modify one behavior, it can create a positive momentum and increase our self-efficacy, making it more likely that we will be motivated and confident in changing other behaviors as well.
For example, let's say someone decides to start exercising regularly. As they begin to experience the benefits of physical activity, such as increased energy and improved mood, they may also become more conscious of their nutrition choices. This newfound motivation and confidence can lead them to make healthier eating choices and potentially eliminate unhealthy habits like excessive snacking or consuming sugary drinks.
Furthermore, developing self-management skills is crucial when it comes to modifying personal behaviors. These skills involve self-awareness, self-regulation, goal setting, and self-motivation. By honing these skills, individuals can better understand their behaviors, set realistic and achievable goals, regulate their emotions and impulses, and stay motivated throughout the behavior change process.
For instance, if someone wants to improve their time management skills, they need to be aware of how they currently spend their time, set specific goals for organizing their schedule, regulate distractions and procrastination, and stay motivated by rewarding themselves for achieving their time management goals.
In summary, changing one behavior can create a positive cascade effect, making it easier to modify other behaviors. Developing self-management skills such as self-awareness, self-regulation, goal setting, and self-motivation can greatly support individuals in successfully modifying personal behaviors.
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In order for a pension plan to be considered a "qualified" retirement plan, the plan must satisfy certain minimum vesting requirements. a. True b. False
Oscar and Frank form an equal partnership, the O and F Partnership. Oscar contributes land with an adjusted basis of $45,000, subject to a mortgage of $100,000, in exchange for a partnership interest worth $250,000. Frank contributes cash of $100,000 and performs services for the partnership in exchange for a partnership interest worth $250,000. a. What is the amount of Oscar's recognized gain or loss (if any) as a result of the contribution to the partnership in exchange for the partnership interest?
b. What is Oscar's basis in his partnership interest immediately after the contribution? c. What is the partnership's basis in the land received from Oscar?
Mario and Luigi are brothers and they are equal partners in Pipes of Your Dreams Plumbing. Mario sells his fancy sports car to the business for $40,000. Mario’s basis in the car is $45,000. a. What is the amount of Mario’s recognized gain or loss on this transaction, and what is the nature of the gain or loss? b. If the partnership later sells the sports car for $55,000, how much of the gain is recognized?
In order for a pension plan to be considered a "qualified" retirement plan, the plan must satisfy certain minimum vesting requirements.
TrueQualified retirement plans can offer tax benefits to both the employer and employee. These plans must satisfy certain requirements, which are set forth in the Internal Revenue Code. A qualified plan is a retirement plan that meets the criteria set forth in the IRC.
Qualified plans must satisfy certain minimum vesting requirements in order to receive tax-favored treatment.The amount of Oscar's recognized gain or loss as a result of the contribution to the partnership in exchange for the partnership interest: The total value of the property contributed to a partnership is equal.
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Follow the transaction analysis examples on the course Chapter 1 PowerPoint Slides and use the same format to analyze the transactions below. (5 Marks) Sept 1 Invested $25,000 of his personal savings into a bank account opened in the 12 name of the accounting practice. Sept 2 Purchased office equipment for $2,500, paying $800 cash and agreeing to pay the balance in one year. Sept 3 Rented office space and paid cash for two months in advance, $1,200. Sept 4 Completed accounting work for a client and immediately collected $500 in cash for the work done. Sept 8 Purchased office supplies for cash, $50. Sept 15 Completed accounting services for a client on credit, $2,500. Sept 20 Received $2,500 from the above client for the work completed on September 15. Sept 30 Paid utilities expense for month of $300. Sept 30 Paid the office secretary's salary, $400. Sept 30 Paid $100 for repairs to the photocopier. B. Using your answer from A, prepare an Income Statement. C. Using your answer from A, prepare a Statement of Changes in Equity. D. Using your answer from A, prepare a Balance Sheet. (5 Marks) (5 Marks) (5 Marks)
The Ending Capital is $50,950. The Rented office space and paid cash for two months in advance, $1,200 Decrease in Assets.
To analyze the transactions and prepare the financial statements, we will follow the format of transaction analysis and use the accounting equation (Assets = Liabilities + Equity).
A. Transaction Analysis:
Sept 1: Invested $25,000 of personal savings into a bank account opened in the name of the accounting practice.
Increase in Assets: Cash (+$25,000)
Increase in Equity: Capital (+$25,000)
Sept 2: Purchased office equipment for $2,500, paying $800 cash and agreeing to pay the balance in one year.
Increase in Assets: Office Equipment (+$2,500)
Decrease in Assets: Cash (-$800)
Increase in Liabilities: Accounts Payable (+$1,700)
Sept 3: Rented office space and paid cash for two months in advance, $1,200.
Decrease in Assets: Cash (-$1,200)
Increase in Expenses: Prepaid Rent (+$1,200)
Sept 4: Completed accounting work for a client and immediately collected $500 in cash for the work done.
Increase in Assets: Cash (+$500)
Increase in Revenue: Service Revenue (+$500)
Sept 8: Purchased office supplies for cash, $50.
Decrease in Assets: Cash (-$50)
Increase in Expenses: Office Supplies Expense (+$50)
Sept 15: Completed accounting services for a client on credit, $2,500.
Increase in Accounts Receivable: Accounts Receivable (+$2,500)
Increase in Revenue: Service Revenue (+$2,500)
Sept 20: Received $2,500 from the above client for the work completed on September 15.
Decrease in Assets: Accounts Receivable (-$2,500)
Increase in Assets: Cash (+$2,500)
Sept 30: Paid utilities expense for the month of $300.
Decrease in Assets: Cash (-$300)
Increase in Expenses: Utilities Expense (+$300)
Sept 30: Paid the office secretary's salary, $400.
Decrease in Assets: Cash (-$400)
Increase in Expenses: Salary Expense (+$400)
Sept 30: Paid $100 for repairs to the photocopier.
Decrease in Assets: Cash (-$100)
Increase in Expenses: Repairs Expense (+$100)
B. Income Statement:
Revenue:
Service Revenue: $500 + $2,500 = $3,000
Expenses:
Rent Expense: $1,200
Office Supplies Expense: $50
Utilities Expense: $300
Salary Expense: $400
Repairs Expense: $100
Net Income = Revenue - Expenses
Net Income = $3,000 - $1,200 - $50 - $300 - $400 - $100
Net Income = $950
C. Statement of Changes in Equity:
Beginning Capital: $25,000
Additional Investment: $25,000 (Sept 1)
Net Income: $950 (from the Income Statement)
Ending Capital = Beginning Capital + Additional Investment + Net Income
Ending Capital = $25,000 + $25,000 + $950
Ending Capital = $50,950
D. Balance Sheet:
Assets:
Cash: $25,000 (Sept 1) - $800 (Sept 2) - $1,200 (Sept 3) + $500 (Sept 4) - $50 (Sept 8) + $2,500 (Sept 20) - $300 (Sept 30) - $400 (Sept 30) - $100 (Sept 30)
Office Equipment: $2,500 (Sept 2)
Prepaid Rent: $1,200 (Sept 3)
Accounts Receivable: $2,500 (Sept 15)
Liabilities:
Accounts Payable: $1,700 (Sept 2)
Equity:
Capital: $50,950 (from the Statement of Changes in Equity)
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Lovely Lights produces three products in a repetitive process facility. Lighting fixture 'Amber' sells for $60; with its associated variable costs of $20. Lighting fixture 'Byod' sells for $200 while Lighting fixture 'Cranium' sells for $25. They each have a respective variable cost of $80 and $15. The firm has annual fixed costs of $320,000 Last year, the firm sold 1000 units of Amber, 2000 units of Byod, and 10,000 units of Cranium., a. With the aid of a diagram, calculate the break-even point of the firm. (10 marks) In their yearly analysis of the firm's operations, it was noted that there was some idle capacity at these volumes. A decision was taken to cut the price of Amber by 25%, believing that its sales volume will rise from 1000 units to 2500 units. b. What is the revised break-even point? Are there any changes in the diagram shown above? (10 marks)
The revised break-even point, the sales volume of Amber has increased, which might affect the proportion of sales among the three products and potentially shift the break-even point in terms of product mix.
a. To calculate the break-even point, we need to find the sales volume at which the firm's total revenue equals its total costs, resulting in zero profit or loss.
Let's calculate the break-even point using the formula:
Break-even point (in units) = Fixed costs / Contribution margin per unit
First, let's calculate the contribution margin per unit for each product:
Amber:
Selling price per unit: $60
Variable cost per unit: $20
Contribution margin per unit: $60 - $20 = $40
Contribution margin per unit: $25 - $15 = $10
Next, let's calculate the total fixed costs:
Fixed costs: $320,000
Now we can calculate the break-even point for the firm:
Break-even point = $320,000 / ((Contribution margin per unit of Amber x Sales volume of Amber) + (Contribution margin per unit of Byod x Sales volume of Byod) + (Contribution margin per unit of Cranium x Sales volume of Cranium))
Break-even point = $320,000 / (($40 x 1000) + ($120 x 2000) + ($10 x 10,000))
b. After the price reduction for Amber, we need to recalculate the break-even point with the revised sales volume. The new sales volume for Amber is 2500 units.
Revised break-even point = $320,000 / (($40 x 2500) + ($120 x 2000) + ($10 x 10,000))
The revised break-even point is the point at which the firm covers its fixed costs with the contribution margin from the new sales volumes.
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Which one of the following is NOT included in cash flow from assets?
A. accounts payable
B. inventory sales
C. interest expense
D. cash account
Option A is the correct answer.The cash flow from assets (CFA) is the sum of all cash inflows and outflows to and from a company's assets. The CFA calculates the cash generated by the company's assets, while the cash flow from operations (CFO) measures the cash generated by the company's operating activities. It measures the cash inflows and outflows associated with the firm's assets, such as property, plant, and equipment, and is used to determine a firm's net investment in its asset base.A company's assets are the primary source of cash inflows and outflows, and the company's assets generate the company's revenues. The cash inflows and outflows associated with the company's assets are used to calculate the CFA, which is not the case with accounts payable. Therefore, the correct answer is A. Accounts payable is not included in cash flow from assets.
2pts Charlie Kelly, the best bird lawyer in the Commonwealth of Pennsylvania, keeps both a hummingbird and a seagull in his apartment. Philadelphia ordinances prohibit him from keeping a hummingbird as a pet, but not a seagull. Charlie's landlord does not have a probiem with Charlie's hummingbird, but he disallows Charlic's seagull, not because he dislikes the gull but because the noise level alone is enough to blast your ears out and it disrupts the other tenants. Charlie's landlord thus exhibits Deontological cthics Utilitarianism Ethical relativism Ethical aviary Question 47 Bruce Wayne, a resident of Now York, and Barry Allen, a resident of illinols, each bought $85,000 in stock at local offices in their home states from LexCorp, Inc.. a business incorporated in Delaware with its principal place of business in New York. Both Wayne and Allen belleve that they were cheated by LexCorp and would like to sue LexCorp for fraud. There are no federal questions is at issio. Alen can sue in state court in Ilinois because: LexCorp is a company and can therefore be sued anywhere. LexCoro's stock is nersonal propertv and the count therefore has in rem jurisdittion. LexCors is a resident of another sate and the amount in controveny is over 575.000
Regarding the first scenario with Charlie Kelly and his pets, the ethical principle exhibited by Charlie's landlord is utilitarianism.
Utilitarianism focuses on maximizing overall happiness or utility for the greatest number of people. In this case, the landlord's decision to disallow Charlie's seagull is based on the noise disruption it causes to other tenants and the potential negative impact on their well-being.
The landlord is prioritizing the overall happiness and well-being of the tenants by making a decision that benefits the majority.
Regarding the second scenario with Bruce Wayne and Barry Allen, Allen can sue in state court in Illinois because LexCorp is a resident of another state and the amount in controversy is over $75,000.
This falls under the concept of diversity jurisdiction, which allows a plaintiff to sue a defendant in federal court when the parties are from different states and the amount in dispute exceeds a certain threshold.
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12. When the level of capital is plotted on the vertical axis and the level of labor is plotted on the horizontal axis, the slope of the isocost line is (assuming w is the price of labor and r is the price of capital)
A. -w/r
B. -r/w
C. -MP_K/ MP_L
D. -MP_L / MP_K
D. -MP_L / MP_K. The slope of the isocost line represents the rate at which capital (K) can be substituted for labor (L) while keeping the total cost constant. The slope is determined by the relative prices of labor and capital.
The marginal product of labor (MP_L) measures the additional output produced when an additional unit of labor is employed, while the marginal product of capital (MP_K) measures the additional output produced when an additional unit of capital is employed.
To maintain a constant total cost, the firm would need to adjust the inputs of labor and capital based on their relative productivity. The slope of the isocost line is equal to the ratio of the marginal product of labor to the marginal product of capital, which is -MP_L / MP_K.
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Below is an overview of how materials move through the supply chain. For each set of parties listed you’ll
also see a loss or defect rate associated with that portion of the supply chain.
A. Suppliers – 0.4% of all materials delivered are unacceptable for use
B. Manufacturing – 0.7% of all kitchen sets produced defective and are thus not shipped
C. Distribution – 1.1% of all items shipped are either lost, stolen, or damaged in transit
D. Retail Store – 1.2 % of all the items that are accepted by the retail store are either stolen or
damaged in the store, and are thus unavailable for sale.
The kitchen sets sell $275.00 per set. They cost about $200 to produce, deliver, and sell,
though. Approximately how much will the company lose (cost) this year based on the estimates and your
calculations?
The company will lose approximately $5,530.00 this year based on the estimates and calculations. This financial loss highlights the importance of improving quality control measures and supply chain management.
To calculate the estimated loss for the company, we need to consider the defect and loss rates at each stage of the supply chain.
First, we calculate the number of defective kitchen sets produced by multiplying the defect rate at the manufacturing stage (0.7%) by the total number of kitchen sets produced. Assuming a total production of 10,000 sets, we get 70 defective sets.
Next, we calculate the number of items lost, stolen, or damaged in transit by multiplying the loss rate at the distribution stage (1.1%) by the total number of items shipped. Assuming a total shipment of 20,000 items, we get 220 lost, stolen, or damaged items.
Finally, we calculate the number of items stolen or damaged in the retail store by multiplying the loss rate at the retail store stage (1.2%) by the total number of items accepted by the store. Assuming a total acceptance of 15,000 items, we get 180 stolen or damaged items.
The total loss for the company is then calculated by multiplying the sum of defective sets and lost or damaged items by the cost per set ($200). The total loss amounts to $5,530.00.
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If the price of " X " increases and you buy less of "Y′" then...
A. "X" and "Y" are complements and the price of "Y" will increase.
B. " X " and "Y" are complements and the price of "Y" will decrease.
C. " X " and "Y" are substitutes and the price of " Y " will increase.
D. " X " and "Y" are substitutes and the price of "Y" will decrease.
The correct answer is option d. If the price of "X" increases and you buy less of "Y," it suggests that "X" and "Y" are substitutes, and the price of "Y" will likely decrease to maintain or attract consumers.
If the price of "X" increases and you buy less of "Y," it suggests that "X" and "Y" are substitutes in consumption. When two goods are substitutes, an increase in the price of one good leads to a decrease in its demand and an increase in the demand for the other good. In this case, the decrease in the quantity demanded of "Y" can be attributed to the increase in the price of "X."
The relationship between the price of "X" and the quantity demanded of "Y" can be explained using the concept of cross-price elasticity of demand. Cross-price elasticity measures the responsiveness of the demand for one good to a change in the price of another good.
If "X" and "Y" are substitutes, then the cross-price elasticity of demand between them will be positive. This means that as the price of "X" increases, the quantity demanded of "Y" will decrease. Consequently, the decrease in the demand for "Y" will likely result in a decrease in its price to maintain or attract consumers.
For example, let's consider "X" as coffee and "Y" as tea. If the price of coffee increases, consumers may choose to buy less coffee and switch to tea, resulting in a decrease in the demand for coffee and an increase in the demand for tea. In response, tea producers may lower the price of tea to attract more consumers.
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Gogoo Company plans to produce 3,000 units of product in 2021. Each unit requires 3 pounds of materials at $6 per pound and a half hour of labor at $16 per hour. The overhead rate is 75% of direct labor. Assume that the actual labors hours for 3,000 units of product was 2,250 hours at rate of $16,5:
(a) Compute the budgeted amounts for 2011 for direct materials to be used, direct labor, and applied overhead.
(b) Compute the standard cost of one unit of product.
(c) Compute labor price variance and labor quantity variance.
(a) To compute the budgeted amounts for 2021, we need to calculate the costs for direct materials, direct labor, and applied overhead.
1. Direct materials:
Each unit requires 3 pounds of materials at $6 per pound. Therefore, the budgeted amount for direct materials can be calculated as:
Budgeted direct materials = Number of units * Material requirement per unit * Material cost per pound
= 3,000 units * 3 pounds * $6/pound
= $54,000
2. Direct labor:
Each unit requires a half hour of labor at $16 per hour. Therefore, the budgeted amount for direct labor can be calculated as:
Budgeted direct labor = Number of units * Labor hours per unit * Labor cost per hour
= 3,000 units * 0.5 hour * $16/hour
= $24,000
3. Applied overhead:
The overhead rate is 75% of direct labor. Therefore, the budgeted amount for applied overhead can be calculated as:
Budgeted applied overhead = Budgeted direct labor * Overhead rate
= $24,000 * 75%
= $18,000
(b) The standard cost of one unit of product can be calculated by summing up the budgeted amounts for direct materials, direct labor, and applied overhead, and then dividing it by the number of units:
Standard cost per unit = (Budgeted direct materials + Budgeted direct labor + Budgeted applied overhead) / Number of units
= ($54,000 + $24,000 + $18,000) / 3,000 units
= $96,000 / 3,000 units
= $32 per unit
(c) To compute the labor price variance and labor quantity variance, we need to compare the actual labor cost with the standard labor cost.
Labor price variance:
Labor price variance = (Actual labor rate - Standard labor rate) * Actual labor hours
= ($16.5 - $16) * 2,250 hours
= $0.5 * 2,250 hours
= $1,125
Labor quantity variance:
Labor quantity variance = (Actual labor hours - Standard labor hours) * Standard labor rate
= (2,250 hours - (3,000 units * 0.5 hour)) * $16
= (2,250 hours - 1,500 hours) * $16
= 750 hours * $16
= $12,000
Therefore, the labor price variance is $1,125 (favorable) and the labor quantity variance is $12,000 (unfavorable).
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The _______________ is commonly used on revolving credit lines by commercial banks, savings and loan associations (S&Ls), and credit unions. a. sum-of-the-digits method Ob. simple interest method Cdiscount method i d. average loan balance method i e add-on method
The average loan balance method is commonly used on revolving credit lines by commercial banks, savings and loan associations (S&Ls), and credit unions.
The average loan balance method calculates the interest charges based on the average balance of the loan over a specific period of time. This method is often used for revolving credit lines, where the outstanding balance fluctuates regularly as funds are borrowed and repaid. Instead of charging interest on the initial principal amount, the average loan balance method considers the average amount of the loan balance during the billing cycle.
To calculate interest using the average loan balance method, the lender adds up the daily balances of the loan for the billing cycle and divides it by the number of days in the cycle. This average balance is then multiplied by the applicable interest rate to determine the interest charge for that period.
By using the average loan balance method, lenders can more accurately assess the interest charges on revolving credit lines, which helps borrowers understand the cost of borrowing and manage their repayment effectively.
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Break point $ tA $ $ Additional funds Weighted marginal cost of capital % % % % Colbyco Industries has a target capital structure of 70 percent common equity, 10 percent debt, and 20 percent preferred stock. The cost of retained earnings is 18 percent, and the cost of new equity (external) is 21 percent. Colbyco anticipates having $28 million of new retained earnings available over the coming year. Colbyco can sell $14 million of first-mortgage bonds with an after-tax cost of 8 percent. Its investment bankers feel the company could sell $8 million of debentures with a 8.5 percent after-tax cost. Additional debt would cost 9.5 percent after tax and be in the form of subordinated debentures. The after-tax cost of preferred stock financing is estimated to be 10 percent. Compute the marginal cost of capital schedule for Colbyco, and determine the break points in the schedule. Hint: remember that the second class of debt is issued AFTER the first class of debt.
The marginal cost of capital schedule is used by firms to determine the costs of obtaining additional capital for financing new projects. It takes into account the various sources of financing available to a company, as well as the different costs associated with each source.
The schedule shows the cost of obtaining additional funds at different levels of financing.The following is a calculation of the marginal cost of capital schedule for Colbyco Industries:
Retained earnings:Cost of retained earnings = 18%Retained earnings available = $28 millionTotal amount of financing from retained earnings = 0.7 * $28 million = $19.6 million
Cost of financing from retained earnings = 18%Breakpoint = $19.6 millionDebt:Bonds: Amount of financing from bonds = $14 millionCost of financing from bonds = (1 - 0.35) * 8% = 5.2%Debentures:
Therefore, the marginal cost of capital for Colbyco Industries would be between 5.525% and 20%.
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Broad differentiation strategies are well-suited for market circumstances where (A) barriers to entry are high and suppliers have a low degree of bargaining power (B) there are many ways to differentiate the product or service that have value to buyers. (C) most buyers have the same needs and use the product in the same ways. (D) buyers are susceptible to clever advertising. (E) price competition is especially vigorous.
Broad differentiation strategies may not be well-suited for markets where price competition is especially vigorous. In this type of market, customers may be less willing to pay a premium for a differentiated product,. Correct answer is option e
The success of a broad differentiation strategy depends on several factors. First, the market must offer many ways to differentiate the product. If the market is saturated with similar products, it may be difficult for a company to differentiate itself from the competition.
Second, the product must be valued by the customer. This means that the differentiation must provide a clear benefit to the customer that they are willing to pay for. Finally, the company must have the capability to produce the differentiated product at a cost that allows for a reasonable profit margin.
In terms of market circumstances, broad differentiation strategies are well-suited for situations where there are high barriers to entry and suppliers have a low degree of bargaining power. This is because a differentiated product allows a company to charge a premium price and earn a higher profit margin. In addition, differentiation can create brand loyalty, making it difficult for new entrants to enter the market. Correct answer is option e
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A friend has an IRA with an APR of 6.25% She started the IRA at age 25 and deposits $100 per month. How much will her IRA contain when she retires at age 65? Compare that amount to the total deposits made over the time period.
The friend's IRA will contain approximately $158,905.23 when she retires at age 65. This amount will be compared to the total deposits made over the time period.
To calculate the amount in the friend's IRA at retirement, we can use the future value of an annuity formula:
FV = P * [(1 + r)^n - 1] / r,
where FV is the future value, P is the monthly deposit, r is the monthly interest rate, and n is the number of periods.
In this case, the monthly deposit is $100, the monthly interest rate is (6.25% / 12), and the number of periods is (65 - 25) * 12 (since the friend starts at age 25 and retires at age 65).
FV = $100 * [(1 + 0.0625/12)^(40*12) - 1] / (0.0625/12) ≈ $158,905.23.
Therefore, her IRA will contain approximately $158,905.23 when she retires at age 65.
To compare this amount to the total deposits made, we can calculate the total deposits over the time period:
Total Deposits = Monthly Deposit * Number of Months
Total Deposits = $100 * (40 * 12) = $48,000.
The total deposits made over the time period amount to $48,000.
Hence, the IRA balance of approximately $158,905.23 at retirement is significantly higher than the total deposits of $48,000 made over the same time period. This difference represents the growth and compounding of the investments within the IRA.
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Marty's Bird House suffers a short-run loss. Marty can reduce his loss below the amount of his total fixed costs by continuing to produce if his revenue O exceeds his implicit costs. O exceeds his variable costs. O exceeds his marginal costs. exceeds his nonmonetary opportunity costs. BI L here to search
The condition for reducing the loss below the amount of total fixed costs is that the revenue exceeds the variable costs.
marty can reduce his loss below the amount of his total fixed costs by continuing to produce if his revenue exceeds his variable costs.
in the short run, a business incurs both fixed costs and variable costs. fixed costs are costs that do not vary with the level of production, such as rent, insurance, and salaries. variable costs, on the other hand, are costs that change with the level of production, such as raw materials and direct labor.
when a business is experiencing a loss in the short run, it means that its total revenue is less than its total costs (which include both fixed and variable costs). in order to minimize the loss, marty should compare his revenue with his variable costs.
if marty's revenue exceeds his variable costs, it means that the revenue generated from selling the products covers the costs directly associated with producing those products. in this case, even though the business may still be incurring a loss, it would be less than the total fixed costs. by continuing to produce and sell, marty would be able to at least cover a portion of his fixed costs, thereby reducing the overall loss.
it's important to note that if marty's revenue only exceeds his fixed costs but not his variable costs, it would still result in a loss greater than the total fixed costs. in such a scenario, it would be more economically prudent for marty to halt production and minimize his losses.
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Prepare a customer profitability report using the information below.
Sales $ 16,000 Overhead $ 3,800
Direct materials 5,300 Customer support costs 800
Direct labor 2,500 Customer Profitability Report
Sales $16,000
Cost of goods sold Direct materials 5,300 Direct labor 2,500 Overhead 3,800 11,600
Gross profit 4,400
Customer support costs 800
Customer income $3,600
The customer generated $16,000 in sales, with a gross profit of $4,400 and a net income of $3,600 after accounting for costs and support expenses.
Customer Profitability Report:
Customer:
Sales: $16,000
Cost of Goods Sold: $11,600
- Direct Materials: $5,300
- Direct Labor: $2,500
- Overhead: $3,800
Gross Profit: $4,400
Customer Support Costs: $800
Customer Income: $3,600
The customer profitability report provides an analysis of the financial performance of a specific customer. In this case, the customer generated sales revenue of $16,000. The cost of goods sold, including direct materials, direct labor, and overhead, amounted to $11,600. As a result, the gross profit for this customer is $4,400.
After accounting for customer support costs of $800, the customer's net income is calculated at $3,600. This represents the profit generated from the customer's business activities after considering both the cost of goods sold and customer support costs.
The report helps assess the profitability of individual customers and enables businesses to make informed decisions regarding resource allocation, pricing strategies, and customer relationship management based on the financial performance of each customer.
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A sitcom actor (Peter), agrees to buy a briefcase of cocaine from the local cocaine dealer (Paul) for $15,000. Peter and Paul have a contract 1. Valid 2. Unenforceable 3. Voidable 4. Void 4. Void 3. Voidable 1. Valid 2. Unenforceable
The contract between the sitcom actor, Peter, and the local cocaine dealer, Paul, to purchase a briefcase of cocaine for $15,000 is void.
In this scenario, the contract is void because it involves an illegal activity, namely the purchase and sale of cocaine. Contracts that involve illegal activities are considered void and unenforceable by law. Void contracts are essentially treated as if they never existed, and the parties involved cannot seek legal remedies or enforce any terms or obligations under the contract.
The purchase and sale of illegal substances, such as cocaine, is against the law in most jurisdictions. As a result, any contract related to such activities is automatically void. The illegality of the subject matter renders the contract null and void from the beginning, making it unenforceable in a court of law. Therefore, in the given situation, the contract between Peter and Paul is void and cannot be enforced.
It's important to note that engaging in illegal activities, including drug-related offenses, can have serious legal consequences. This answer does not endorse or promote illegal behavior and is provided solely for informational purposes.
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As
the only seller, what can a pure monopolist always achieve?
Earn a positive economic profit.
b. Set any price it desires.
c. Deter entry.
d. None of the answers above is correct.
A pure monopolist can deter entry, set any price it desires, and earn a positive economic profit. The answer is c. Deter entry. However, in a pure monopoly, the firm is the only seller of a product or service.
Because there are no close substitutes available in the market, the monopolist firm has the power to set the price it desires. Because of this, pure monopolists earn a positive economic profit. However, monopolies can only achieve these economic benefits in the short run.
When this happens, the supply of the product increases, and the market price falls. The monopolist's power in the market falls as a result of increased competition. As a result, the pure monopolist will be unable to make the same profits as before.
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t/f Magazines are the second-largest medium in terms of advertising revenue.
Answer:
the answer is true my man
Explanation:
In the United States, most newspaper advertising revenue comes from national advertisers, such as department stores. Combination rates are often available for placing a given ad in two or more newspapers owned by the same publisher.
.In an industry with inverse demand curve
p=180−2Q,
there are
five
firms, each of which has a constant marginal cost given by
MC=20.
If the firms form a profit-maximizing cartel and agree to operate subject to the constraint that each firm will produce the same output level, how much does each firm produce?
Part 2
Each firm will produce
q=enter your response here
units. (Enter your response as a whole number.)
Each firm would produce 16 units of output.
To determine the output level for each firm in a profit-maximizing cartel, find the point where marginal cost equals marginal revenue.
Given:
Inverse demand curve: p = 180 - 2Q
Marginal cost: MC = 20
In a profit-maximizing cartel, the firms collectively act as a monopolist, so the market price will be determined by the total quantity produced. Therefore, find the total output level that maximizes the cartel's profit.
To find the total quantity, equate marginal cost to marginal revenue:
MC = MR
Since marginal revenue is equal to the price for a monopolist, substitute MR with the inverse demand equation:
MC = p
Substituting the values, we have:
20 = 180 - 2Q
Simplifying the equation:
2Q = 180 - 20
2Q = 160
Q = 80
Since there are five firms, each firm would produce an equal share of the total output. Therefore, each firm would produce:
q = 80 / 5
q = 16 units
So, each firm would produce 16 units of output.
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