Question 7: Just as with competitive firms, the marginal revenue for a monopolist is always equal to the price. False
Explanation: Marginal revenue is the change in revenue as a result of an increase in output by one unit. When a monopoly increases its production, there are two opposing effects: the output effect and the price effect. The output effect occurs because when one more unit is sold, more revenue is obtained. The price effect occurs because when more output is produced, the price of each unit falls.
Since the monopolist is the only seller of the good and controls its production, the price effect always occurs. In contrast to competitive companies, the monopolist is not a price taker, but a price maker. The demand curve is downward sloping, indicating that a rise in output leads to a lower price. The marginal revenue of the monopolist is, therefore, less than the price and is equal to the price multiplied by (1 - 1 / E), where E is the price elasticity of demand. Question 8: Just as with a perfectly competitive firm, a monopolist will select the profit-maximizing level of output where MR = MC. False
Explanation: In a monopolistic competition, a firm can choose its price and the amount of output it produces. In contrast, in a perfect competition, the price is determined by the market, and the company has no control over the price. In a monopoly, the company is the sole supplier, and it can determine the price, but it has a constraint, which is the demand curve. The monopolist can select the price, but the amount of output it produces is determined by the market's demand at that price. The monopolist maximizes profit by producing a quantity where MR = MC. However, the price charged and the quantity produced are determined by the market demand. Thus, a monopolist does not necessarily produce where MC = MR.
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What is the future worth in 8 years of savings of $
81,000 now and $ 31 ,000 per year in years 1 through 3 at an
interest rate of 13% per year ? use the long hand method and excel
function.
Calculating the future worth of savings over 8 years, considering two components: an initial amount of $81,000 and annual savings of $31,000 in the first three years and by applying the interest rate of 13% per year, we found that the total future worth of the savings after 8 years is $273,244.45.
To calculate the future worth of the savings over 8 years, we will use the future value formula:
Future Value = Present Value * (1 + Interest Rate)^n
Where:
Present Value is the initial amount of savings
Interest Rate is the annual interest rate
n is the number of years
Using the long hand method, we calculate the future worth of each component of savings separately and then sum them up.
Savings of $81,000 now:
Future Value = $81,000 * (1 + 0.13)^8
Future Value = $81,000 * 1.928135
Future Value = $156,242.35 (rounded to two decimal places)
Savings of $31,000 per year in years 1 through 3:
Future Value = $31,000 * [(1 + 0.13)^3 + (1 + 0.13)^2 + (1 + 0.13)^1]
Future Value = $31,000 * (1.4641 + 1.1690 + 1.1300)
Future Value = $31,000 * 3.7631
Future Value = $117,002.10 (rounded to two decimal places)
Now, we add the future values of the two components together to find the total future worth of the savings over 8 years:
Total Future Value = $156,242.35 + $117,002.10
Total Future Value = $273,244.45 (rounded to two decimal places
Using Excel, we can use the FV function to calculate the future worth. Assuming the interest rate is in cell A1, the present value is in cell A2, and the number of years is in cell A3, the formula in Excel would be:
=FV(A1, A3, 0, -A2)
Using the given interest rate of 13%, present value of $81,000, and number of years as 8, the Excel function would be:
=FV(0.13, 8, 0, -81000)
The result would be $273,244.45, which matches the result obtained using the long hand method.
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Search is intent-based and can give marketers a sense of how
close a prospect is to converting.
True
False
Businesses often createprovisionsn for doubtful debts. Question 4.1 Of which concept/convention is this an example? Explain! Question 4.2 What is the purposeofr creating the provision for doubtful debts? Question 4.3 What is the difference between bad debts and the provision for doubtful debts?
The creation of provisions for doubtful debts is an example of the matching principle. This principle states that expenses should be recognized in the same period as the revenues they generate.
In the case of doubtful debts, the expense is the cost of goods sold, and the revenue is the sale of the goods. By creating a provision for doubtful debts, businesses are able to match the expense of bad debts to the revenue they generated in the period when the goods were sold.
Question 4.2
The purpose of creating a provision for doubtful debts is to reduce the risk of overstated assets. When a business sells goods on credit, it records the sale as an asset, accounts receivable. However, there is always the risk that some of these accounts receivable will not be collected. By creating a provision for doubtful debts, businesses can reduce the amount of accounts receivable they report on their balance sheet. This is because the provision for doubtful debts is a contra-asset account, which reduces the amount of accounts receivable that is reported on the balance sheet.
Question 4.3
The difference between bad debts and the provision for doubtful debts is that bad debts are actual losses, while the provision for doubtful debts is an estimate of future losses. Bad debts are accounts receivable that have been written off as uncollectible. The provision for doubtful debts is an estimate of the amount of accounts receivable that are likely to become uncollectible in the future.
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Ronald Coase's theorem suggest that climate change is a tricky problem to solve because: O Humans do not care about climate change. Individual nations do not have property rights over the climate. Releasing greenhouse gases causes GDP to rise. Pollutants cross national borders. 0.5 pts
The Ronald Coase's theorem suggests that climate change is a tricky problem to solve because pollutants cross national borders.The Ronald Coase's theorem is an economic concept that was proposed by the Nobel laureate Ronald Coase.
It states that in the presence of transaction costs, an efficient allocation of property rights may not emerge, and hence externalities might persist.Therefore, this theorem suggests that when it comes to climate change, it is hard to create an efficient allocation of property rights. Climate change is a tricky problem to solve since pollutants can cross national borders. This is because no single nation has the ability to control climate change by itself. Hence, to address the issue of climate change, it is crucial for different nations to work together. They need to come up with an agreement to create a solution to mitigate this problem and reduce the effects of climate change. Therefore, this is why the issue of climate change is a complex problem to solve since it requires international cooperation.
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Suppose that two factors have been identified for the Canadian economy: the growth rate of industrial production, IP, and the inflation rate, IR. IP is expected to be 2%, and IR 5.0%. A stock with a beta of 0.8 on IP and 0.4 on IR currently is expected to provide a rate of return of 11%. If industrial production actually grows by 5%, while the inflation rate turns out to be 7.0%, what is your revised estimate of the expected rate of return on the stock? (Do not round intermediate calculations. Round your answer to 1 decimal place.)
Given data:
Growth rate of industrial production, IP = 2%
Inflation rate, IR = 5.0%
A stock with a beta of 0.8 on IP and 0.4 on IR currently is expected to provide a rate of return of 11%
Beta of IP = 0.8
Beta of IR = 0.4
Rate of return on stock, R = 11%
To Find:
Revised estimate of the expected rate of return on the stock
We know that the relation between expected return and beta can be represented by the following formula;
R = Rf + βi (RM – Rf)
Where,
Rf is the risk-free rate of return,
RM is the market rate of return.
βi is the sensitivity of the expected excess asset returns to the expected excess market returns
Now, R = Rf + βi (RM – Rf)11% = Rf + 0.8(RM – Rf) + 0.4(RM – Rf)11% = Rf + 1.2(RM – Rf)
[Multiplying and simplifying by 10]
11% = Rf + 1.2RM – 1.2Rf11% – Rf = 1.2RM – 1.2Rf
[Taking Rf to LHS]
11% – Rf + 1.2Rf = 1.2RMRf(1.2 – 1) = 0.11 * 1.20.2Rf = 0.132Rf = 0.66 or 6.6%
So, RM = (11% – 6.6%) / 1.2RM = 3.5%
Now, revised estimate of the expected rate of return on the stock is given as,
R = Rf + βi (RM – Rf)R = 6.6% + 0.8 (3.5% – 6.6%) + 0.4 (7.0% – 5.0%)R = 6.6% – 0.248 + 0.8%R = 7.152%
Therefore, the revised estimate of the expected rate of return on the stock is 7.2%.
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Assigning Overhead to Products in ABC (L04-2, L04-3] Sultan Company uses an activity-based costing system. At the beginning of the year, the company made the following estimates of cost and activity for its five activity cost pools: Activity Cost Pool Labor-related Purchase orders Parts management Board etching Ceneral factory Activity Measure Direct labor-hours Number of orders Number of part types Number of boards Machine-hours Expected Overhead Cost $390,600 $8,600 $ 94,160 $ 60,550 $ 220,000 Product A 5,800 71 20 310 2,500 Expected Activity 43,400 DL Required: 1. Compute the activity rate for each of the activity cost pools. 2. The expected activity for the year was distributed among the company's four products as follows: Product Activity Cost Pool Product C Product D Labor-related (DLM) 4,800 4,400 Purchase orders (orders) 43 Parts management (part types) 42 Board etching (boards) 770 650 General factory (Mits) 6,400 4,000 Using the ABC data, determine the total amount of overhead cost assigned to each product. 28,400 215 orders 107 part types 1,730 boards Expected Activity 20 20 18,400 M 01 17 0 5,500 eBook Hint Print References Using the ABC data, determine the total amount of overhead cost assigned to each product. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the activity rate for each of the activity cost pools. Activity Cost Pool Activity Rate per DLH per order per part type per board per MH Labor-related Purchase orders Parts management Board etching General factory eBook Hint Print ဝ References OF OV Complete this question by entering your answers in the tabs below. Activity Cost Pool Required 1 Required 2 Using the ABC data, determine the total amount of overhead cost assigned to each product. Overhead Cost Overhead Cost Overhead Cost Overhead Cost Assigned Assigned Product A Assigned Product D Product C Labor-related (DLHS) Purchase orders (orders) Parts management (part types) Board etching (boards) General factory (MH) Total cost assigned to each product. Assigned Product B < Required 1
Using activity-based costing, the total overhead cost assigned to each product is as follows: Product A - $113,272, Product D - $159,906, Product C - $245,206, and Product B - $65,920. These costs are based on activity rates and expected activity for each cost pool.
To find the exact values, let's calculate the activity rates and overhead costs for each product using the given data
Compute the activity rate for each of the activity cost pools:
Labor-related activity rate = $390,600 / 43,400 DLH = $8.99 per DLH
Purchase orders activity rate = $8,600 / 215 orders = $40 per order
Parts management activity rate = $94,160 / 107 part types = $880 per part type
Board etching activity rate = $60,550 / 1,730 boards = $35 per board
General factory activity rate = $220,000 / 18,400 MH = $11.96 per MH
Calculate the overhead cost assigned to each product:
Product A:
Labor-related overhead cost = $8.99 per DLH * 5,800 DLH = $52,082
Purchase orders overhead cost = $40 per order * 71 orders = $2,840
Parts management overhead cost = $880 per part type * 20 part types = $17,600
Board etching overhead cost = $35 per board * 310 boards = $10,850
General factory overhead cost = $11.96 per MH * 2,500 MH = $29,900
Product D:
Labor-related overhead cost = $8.99 per DLH * 4,400 DLH = $39,556
Purchase orders overhead cost = $40 per order * 215 orders = $8,600
Parts management overhead cost = $880 per part type * 42 part types = $36,960
Board etching overhead cost = $35 per board * 770 boards = $26,950
General factory overhead cost = $11.96 per MH * 4,000 MH = $47,840
Product C:
Labor-related overhead cost = $8.99 per DLH * 4,800 DLH = $43,152
Purchase orders overhead cost = $40 per order * 215 orders = $8,600
Parts management overhead cost = $880 per part type * 107 part types = $94,160
Board etching overhead cost = $35 per board * 650 boards = $22,750
General factory overhead cost = $11.96 per MH * 6,400 MH = $76,544
Product B:
Labor-related overhead cost = $8.99 per DLH * 0 DLH = $0
Purchase orders overhead cost = $40 per order * 0 orders = $0
Parts management overhead cost = $880 per part type * 0 part types = $0
Board etching overhead cost = $35 per board * 0 boards = $0
General factory overhead cost = $11.96 per MH * 5,500 MH = $65,920
Summing up the assigned overhead costs for each product:
Product A: $52,082 + $2,840 + $17,600 + $10,850 + $29,900 = $113,272
Product D: $39,556 + $8,600 + $36,960 + $26,950 + $47,840 = $159,906
Product C: $43,152 + $8,600 + $94,160 + $22,750 + $76,544 = $245,206
Product B: $0 + $0 + $0 + $0 + $65,920 = $65,920
Therefore, the total amount of overhead cost assigned to each product is as follows:
Product A: $113,272
Product D: $159,906
Product C: $245,206
Product B: $65,920
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apple inc is a well known global electronic and technology company with a presence in Africa. the company has engaged your service as a consultant to advice on its expansion strategy.
how will a company design an organisational structure bused on a differentiation strategy given the focus on uniqueness broad market?
Why should apple consider adaptive culture over rigid culture
Per apple strategy, would you recommend a small or large organisation? Justify your answer
Apple Inc. is a well-known global electronic and technology company that has a presence in Africa. The company has engaged your service as a consultant to advise on its expansion strategy. In this context, let's discuss the company's organizational structure, cultural strategy, and recommendations of a small or large organization based on Apple's strategy.
Designing an organizational structure based on differentiation strategy given the focus on uniqueness and broad market requires the management team to focus on the production of different products for different customers. Apple Inc. produces different types of products, which provide customers with a variety of choices. In this way, the organizational structure should be designed in such a way that each product has its own department or division, and each department is responsible for its own product line. The following features may be included in the organizational structure:Product-oriented departments, where each department has its own department headResponsible managers for each departmentInnovation and creativity encouragedCollaboration among departments to ensure high-quality products are produced.In conclusion, the organizational structure should focus on the differentiation strategy that Apple Inc. uses, with different product lines focusing on uniqueness and broad market.Adaptive culture is a system where a company has an ability to adjust to changes in the environment and the industry. Apple Inc. should consider adaptive culture over rigid culture because the company is in an industry that is rapidly changing. In this context, the company needs to be able to adjust to new and emerging technologies. An adaptive culture ensures that the organization has the ability to adjust to new conditions, such as changes in the market, competition, and customer needs.In conclusion, Apple Inc. should consider adaptive culture over rigid culture because it allows the company to adjust to changing conditions in the industry, which is essential for its continued success.Per Apple's strategy, a large organization is recommended. Apple is a multinational technology company, and its success depends on its ability to manufacture and distribute its products worldwide. Apple's products are popular worldwide, and a large organization is best suited to manage the production and distribution of these products. A large organization also ensures that Apple can expand into new markets and reach more customers. Therefore, a large organization is the most appropriate for Apple's strategy.
In conclusion, a large organization is recommended for Apple's strategy as it allows the company to manage its production and distribution worldwide and expand into new markets and reach more customers.
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Which of the following are key differences between market economies and command economies?
a) Private ownership of resources vs. central planning
b) Competition and profit as motivators vs. government control
c) Price determined by supply and demand vs. price set by the government
d) All of the above
The key differences between market economies and command economies. Key differences between market economies and command economies
The correct answer is option d.
Key differences between market economies and command economiesThe main differences between market economies and command economies are as follows:Private ownership of resources vs. central planningCompetition and profit as motivators vs. government controlPrice determined by supply and demand vs.
price set by the governmentDistribution and allocation of goods and services are done by the market in market economies, while the government controls everything from production to pricing in a command economy.
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Marin, Inc, values its inventory at the lower-of-LIFO-cost-or-market. The following information is available from the company's inventory records as of December 31, 2017. Estimated Price/Unit $14.28 9.08 32.18 20.20 14.23 Normal Completion & Disposal Cost/Unit Profit Margin/Unit Unit Replacement Selling Item Quantity Cost Cost/Unit X490 x12 5,049 7.14 X682 18,360 19.38 Z195 12,75014.54 2846 $3.06 0.26 3.32 1.43 2.14 $3.47 1.84 9.18 5.87 1.12 10,404 $12.75 $12.19 7.65 18.97 14.28 3.01 8,772 12.24 Calculate the lower-of-cost-or-market using the individual-item approach Lower-of-Cost-or-Market (Per unit basis) X490 X512 X682 X195 X846
To calculate the lower-of-cost-or-market (LCM) using the individual-item approach, we compare the cost and market values for each item and choose the lower value.
Here are the calculations: For item X490:
Cost/Unit: $7.14
Market/Unit: $14.28 (estimated price)
Lower-of-Cost-or-Market: $7.14 (since cost is lower than market)
For item X512: Cost/Unit: $18.36
Market/Unit: $9.08 (estimated price)
Lower-of-Cost-or-Market: $9.08 (since market is lower than cost)
For item X682: Cost/Unit: $12.75
Market/Unit: $32.18 (estimated price)
Lower-of-Cost-or-Market: $12.75 (since cost is lower than market)
For item X195: Cost/Unit: $14.54
Market/Unit: $20.20 (estimated price)
Lower-of-Cost-or-Market: $14.54 (since cost is lower than market)
For item X846: Cost/Unit: $3.06
Market/Unit: $14.23 (estimated price)
Lower-of-Cost-or-Market: $3.06 (since cost is lower than market)
Therefore, the lower-of-cost-or-market values on a per-unit basis are as follows:
X490: $7.14
X512: $9.08
X682: $12.75
X195: $14.54
X846: $3.06
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Time left 1:23:43 On 1 April 2019, Lisa borrowed $30322 at an interest rate of 2.37% from her employer, Solarcity Pty Ltd. This was lower than that offered to the public. Lisa uses the entire amount to replace the loan on her main residence. No part of the expense would have been deductible to Lisa under the Tax Acts. Solarcity Pty Ltd is not entitled to claim input tax credit for GST purposes. Required: Calculate the Fringe Benefits Tax that Solarcity Pty Ltd is liable to pay on this loan fringe benefit for the 2020 FBT year. Only enter numbers & round to the nearest dollar Answer:
The fringe benefit tax that Solarcity Pty Ltd is liable to pay on the loan fringe benefit for the 2020 FBT year can be calculated as shown below .
Loan benefit amount = $30322 Fringe benefit tax rate for the 2020 FBT year = 47%Interest rate = 2.37%Discount rate = 1.88%The taxable value of the loan benefit can be determined using the formula;TV = (1 - R / D) x LWhere;TV = Taxable valueL = Loan benefit amountR = Interest rateD = Discount rate.
Therefore,TV = (1 - 0.0237 / 0.0188) x $30322= 0.189 x $30322= $5737.98 Fringe benefit tax payable = FBT rate x TV= 0.47 x $5737.98= $2695.31Rounding to the nearest dollar, the Fringe Benefits Tax that Solarcity Pty Ltd is liable to pay on this loan fringe benefit for the 2020 FBT year is $2695.
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To calculate the Fringe Benefits Tax (FBT) liability for Solarcity Pty Ltd on the loan fringe benefit provided to Lisa, we need to consider the FBT rate and the taxable value of the benefit. After calculation, the FBT rate for the 2020 FBT year is 47%.
Fringe Benefits Tax (FBT) is a tax imposed on employers for the benefits they provide to their employees or their employees' associates in place of or in addition to their salary or wages. These benefits are provided as part of an employment relationship and are separate from regular salary or wages.
The purpose of FBT is to ensure that the value of fringe benefits provided to employees is included in their overall taxable income and subject to taxation.
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QUESTION 37 If firms choose to maximize revenue regardless of the cost Othey are more likely to become takeover targets of profit-maximizing firms Othey are less likely to be replaced by stockholders they are less likely to be replaced by the board of directors they are more likely to have higher profit than if they had pursued that policy explicitly. QUESTION 38 Cartels lead to market outcomes such as the same as for monopoly the same as if all the firms were competitive inefficiency because the monopolist makes profit O a Nash equilibrium QUESTION 39 "For a competitive firm, the value of the marginal product curve for capital is the firm's production function marginal cost curve supply curve of capital demand curve for capital QUESTION 40 The monopolist that maximizes profit O imposes a cost on society because the selling price is above marginal cost imposes a cost on society because the selling price is equal to marginal cost does not impose a cost on society because the selling price is above marginal cost O does not impose a cost on society because price is equal to marginal cost 20000
Answer to QUESTION 37 If firms choose to maximize revenue regardless of the cost they are more likely to become takeover targets of profit-maximizing firms. If firms only look to maximize their revenue without caring about the costs, they will be an easy target for a takeover by a profit-maximizing firm.
Answer to QUESTION 38 Cartels lead to market outcomes such as inefficiency because the monopolist makes a profit.
Answer to QUESTION 39 The value of the marginal product curve for capital is the firm's supply curve of capital for a competitive firm.
Answer to QUESTION 40 The monopolist that maximizes profit imposes a cost on society because the selling price is above marginal cost.
This is because the monopolist tries to maximize profit by increasing the price of the goods or services above the marginal cost and reducing the output produced. Thus, they impose a cost on society.
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Answer the following questions related to real world applications concisely. (About 150 or fewer words for each question) (1) How did New Zealand government respond to the economic crisis caused by Covid-19? Do you agree with the actions? (2) Why are most economists against price controls? What are some examples of price controls in history, and how did they fare? (3) Some people blame NZ supermarkets for the high inflation. What are some arguments that dispute this opinion? What do you think? (4) What did the economist Kaushik Basu propose for India's law on bribery? What was his rationale? What are some objections to his proposal? (5) What do animal spirits mean in economics? Why do they matter?
(1) The government of New Zealand has implemented a multi-pronged approach to tackle the economic crisis caused by Covid-19.
Some of these measures include wage subsidies, business tax changes, and increasing funding to health care and education.
The government has also announced a significant infrastructure plan to create job opportunities and stimulate the economy.
While the actions of the New Zealand government are debatable, they have been effective in reducing the unemployment rate and containing the pandemic.
The measures were largely successful in keeping the number of Covid-19 cases low.
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Which statement best describes the relationship between those who believe in external control (externals) and those who believe in internal control (internals)?
Individuals who believe in external control, also known as externals, believe that their successes and failures are largely determined by external factors, such as luck or fate, rather than their own actions or efforts.
On the other hand, those who believe in internal control, also known as internals, believe that their successes and failures are primarily due to their own actions and efforts rather than external factors. Externals are less likely to take responsibility for their outcomes, as they believe their outcomes are due to external factors. Internals, on the other hand, are more likely to take responsibility for their outcomes, as they believe their outcomes are due to their own actions and efforts rather than external factors. Internals are also more likely to have a strong sense of self-efficacy, or the belief that they can effectively control their own outcomes, while externals are more likely to feel a sense of helplessness or lack of control over their outcomes.
In general, internals tend to have a more positive outlook and are more likely to be proactive in making changes in their lives, while externals tend to have a more negative outlook and are less likely to be proactive in making changes. To summarize, those who believe in external control (externals) and those who believe in internal control (internals) differ in their beliefs about the causes of their outcomes, as well as in their levels of self-efficacy and proactivity. The relationship between the two groups is one of contrast.
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The Scenario Jasmine Patel, Director of Human Resources At Vertical Horizon, Sits at her desk thinking about what to do next
Jasmine Patel, who is the Director of Human Resources at Vertical Horizon, is in a dilemma as she thinks about what to do next. The scenario could be that there is a problem in the company and she has to find a solution to it. The first thing that Jasmine should do is to analyze the situation by identifying the problem and the root cause of it.
She should also gather relevant information, data, and statistics to support her analysis and make an informed decision.In doing this, she can involve her team of experts in human resources to brainstorm ideas on how to solve the problem. This will not only promote teamwork but also help her get different perspectives on the issue. She can also involve other departments in the company to provide insights that will be helpful in finding a solution. In some cases, outsourcing the issue to a specialist firm may be the best course of action.
In whatever decision she makes, she should consider the company’s objectives and culture, the impact of her decision on employees, and the legal and ethical implications of her decision. She should communicate her decision clearly to the relevant stakeholders and follow up with an evaluation of the effectiveness of the solution implemented.In conclusion, Jasmine should remain calm, analytical, and methodical in approaching the problem. She should seek expert advice where necessary and always prioritize the interests of the company and its employees.
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Blaser Corporation had $1,017,000 in invested assets, sales of $1,229,000, operating income amounting to $207,000 , and a desired minimum return on investment of 12%. The return on investment for Blaser Corporation is
Round the percentage to one decimal place.
a.20.4%
b.16.8%
c.24.4%
d.13.5%
To calculate the return on investment (ROI) for Blaser Corporation, we need to divide the operating income by the invested assets and express it as a percentage. The formula for ROI is:
ROI = (Operating Income / Invested Assets) * 100
Given that Blaser Corporation had an operating income of $207,000 and invested assets of $1,017,000, we can substitute these values into the formula:
ROI = (207,000 / 1,017,000) * 100
Calculating this expression gives us:
ROI ≈ 20.35%
Rounding to one decimal place, the return on investment for Blaser Corporation is approximately 20.4%.
Therefore, the correct answer is option a. 20.4%.
This means that Blaser Corporation earned a return on its invested assets of 20.4%, which is above its desired minimum return of 12%. It indicates that the company's operations were efficient and generated a favorable return compared to the amount invested.
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Which of the following decisions is associated with the concept of decision control with respect to a proposal and plan for a new computer system?
a. the development of an acquisition proposal and creation of a plan for the system
b. the approval of a proposal for the system by the board
c. the choice of the vendor
d. the implementation of the system
d. the implementation of the system. The decision associated with decision control for a new computer system is its implementation, as it involves tracking and monitoring the decision-making process to ensure accuracy and efficiency.
The decision that is associated with the concept of decision control with respect to a proposal and plan for a new computer system is the implementation of the system.What is decision control?Decision control is the process of implementing plans, policies, and procedures to determine whether the decisions made are accurate, efficient, and support organizational objectives. It enables management to track and monitor decisions taken by them. They may easily learn how and why a specific decision has been made, what decision-making process has been followed, and how it affects organizational success.What is a computer system?A computer system is a group of interconnected digital devices that work together to complete a task. It includes all types of computer hardware and software components that work together to accomplish tasks or activities. Computer systems can be built for a variety of purposes, including personal use, business, and research. They can vary in complexity from a single desktop computer to an interconnected network of computers located in various locations.In the given options, a, b, and c are all associated with decision making and approval, while d, the implementation of the system, is associated with decision control.
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Question 1 a) Why is the implementation of projects important to strategic planning and the project manager? b) The technical and sociocultural dimensions of project management are two sides to the same coin. Explain.
(a) The implementation of projects is important to strategic planning and the project manager because it ensures that the strategic objectives and goals of the organization are effectively translated into tangible outcomes.
(b) The technical and sociocultural dimensions of project management are interconnected and complementary aspects that need to be balanced for successful project implementation.
The implementation of projects is a crucial step in strategic planning as it involves turning the strategic vision into reality. Strategic plans outline the long-term goals and objectives of an organization, and projects are the means through which those goals are achieved. The project manager plays a vital role in overseeing the implementation process, ensuring that resources are allocated, timelines are met, and project outcomes align with the strategic objectives.
The technical dimension of project management refers to the application of specialized knowledge, skills, and techniques to deliver the project's technical requirements. This includes aspects such as project scope, scheduling, budgeting, and quality management. On the other hand, the sociocultural dimension recognizes that projects are carried out by people within a social context. It considers the human aspects of project management, including communication, stakeholder engagement, team dynamics, and organizational culture.
Both dimensions are interrelated and must be considered simultaneously for project success. Technical expertise alone is insufficient if the sociocultural factors are not addressed, as human interactions, communication breakdowns, or resistance to change can impede project progress.
Likewise, addressing sociocultural aspects without paying attention to technical requirements can lead to ineffective outcomes. Therefore, project managers must strike a balance between the technical and sociocultural dimensions, recognizing their interdependence and managing them in a coordinated manner to achieve successful project implementation.
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Do you have a regular habit—coffee, workout, meditation—that you do frequently, without a lot of thought?
Reflect on when you first made this part of your routine. Identify, in short points, all of the key factors involved: How did it begin? How has your habit changed since it first began? Have you tried other options since this became your habit? Why do you think this works for you?
I can provide a general perspective on establishing and maintaining habits:
Beginning of the habit:
Initial motivation or interest in the activity.Setting specific goals or intentions.Establishing a routine or schedule.Changes over time:Gradual integration into daily life.Increased consistency and automaticity.Possible adaptations or modifications to suit evolving needs or circumstances.Exploring other options:Some individuals may try alternative activities or approaches to achieve similar benefits.Experimentation with different techniques or methodsFactors contributing to habit formation:
Enjoyment and personal satisfaction from the activity.Perceived benefits, such as improved well-being or productivity.Positive reinforcement through consistent practice.External cues or reminders that prompt engagement.Support from others or accountability mechanisms.It's important to note that individual experiences may vary, and the success of a habit depends on personal preferences, motivations, and circumstances.
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Guido is a manufacturing firm producing several products for the local market. The following data relates to a new product called the ZITE 7 to be launched on 1 March 2022. Selling price £25 per unit Forecast sales volume 60,000 units Variable costs £20 per unit Fixed costs £180,000 Required: Using the information above, calculate the minimum sales revenue (£s) needed to meet a target profit of £60,000 (4 marks)
The minimum sales revenue needed to meet a target profit of £60,000 is £300,000.
To calculate the minimum sales revenue needed to meet a target profit of £60,000 for the ZITE 7 product, we need to consider the fixed costs, variable costs, and the target profit.
First, let's calculate the total fixed costs. Given that the fixed costs are £180,000, we can use this figure as it is.
Next, we need to calculate the contribution margin per unit. The contribution margin is the selling price per unit minus the variable cost per unit. In this case, the selling price is £25 per unit, and the variable cost is £20 per unit. Therefore, the contribution margin per unit is £25 - £20 = £5.
Now, let's calculate the breakeven point in units. The breakeven point is the level of sales at which the company covers all its costs and does not make a profit or loss. To calculate the breakeven point, we divide the total fixed costs by the contribution margin per unit: £180,000 / £5 = 36,000 units.
Since the target profit is £60,000 and the breakeven point is 36,000 units, we need to calculate the additional units needed to achieve the target profit. This can be done by dividing the target profit by the contribution margin per unit: £60,000 / £5 = 12,000 units.
Finally, to calculate the minimum sales revenue needed, we multiply the additional units needed by the selling price per unit: 12,000 units × £25 = £300,000.
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Assume that a country is endowed with 35 units of oil reserve.
(a) the marginal willingness to pay for oil in each period is given by P = 14 – 0.49q
(b) the marginal cost of extraction of oil is constant at $2 per unit
(c) the discount rate is 1%
(d) the marginal cost of renewable energy is $9, where c
How long will it take, for a country to transition to a renewable energy source?
The time taken for a country to transition to a renewable energy source would be 35 years.Explanation:Given, the marginal willingness to pay for oil in each period is given by P = 14 – 0.49qthe marginal cost of extraction of oil is constant at $2 per unitthe discount rate is 1%the marginal cost of renewable energy is $9,
where cWe need to calculate the time taken for a country to transition to a renewable energy source.We know that,Total surplus = WTP - MC = 14 - 0.49q - 2 = 12 - 0.49qThe present value of total surplus is TVC = (MC + 1%)*q = 2.02q
The condition for the transition from the non-renewable to the renewable source is: PV(TS) = PV(TVC)12 - 0.49q = 2.02q/1.01q = 23.76 year.So, the time taken for a country to transition to a renewable energy source is 24 years.
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Depreciation; PV
Yankee Freight provides truck freight services throughout the northeast United States. The firm is considering an investment in improved logistics management requiring a main-frame computer and communications software, which would cost $990,000 and have an expected life of eight years. For tax purposes, the investment will be depreciated using the straight-line method, with no salvage value. The company’s cost of capital and tax rates are 8 and 30 percent, respectively.
a. Compute the present value of the depreciation tax benefit.
Note: Round your final answer to the nearest whole dollar.
$Answer
b. Assume instead that Yankee Freight uses the double-declining-balance method of depreciation for tax purposes with a five-year life. Compute the present value of the depreciation tax benefit.
Note: Round your final answer to the nearest whole dollar.
The present value of the depreciation tax benefit can be calculated as follows Calculate the tax savings due to depreciation each year using the straight-line depreciation method. Tax savings due to depreciation each year = Depreciation expense x Tax rate The depreciation expense can be calculated as follows Depreciation expense = (Initial cost - Salvage value) / Useful life Depreciation expense = ($990,000 - $0) / 8 years
= $123,750 per year.
Therefore, the tax savings due to depreciation each year = $123,750 x 30% = $37,125 Calculate the present value of the tax savings due to depreciation using the following formula
Present value of tax savings due to depreciation = (1 - (1 + r)-n) / r x Tax savings due to depreciation each year where
r = Discount rate
= Cost of capital
= 8%
n = Useful life
= 8 years Substituting the values in the formula, we get Present value of tax savings due to depreciation = (1 - (1 + 0.08)-8) / 0.08 x $37,125= 4.4866 x $37,125= $166,406Therefore, the present value of the depreciation tax benefit is $166,406 (rounded to the nearest whole dollar). Under the double-declining-balance method of depreciation, the depreciation expense is calculated as a percentage of the book value of the asset each year, and the percentage is twice the straight-line rate.
The book value of the asset is reduced each year by the depreciation expense. The useful life is the number of years required to depreciate the asset to zero salvage value. The depreciation expense for each year can be calculated using the double-declining-balance method as follows Year 1: Book value of the asset = Initial cost
= $990,000 Depreciation expense = Book value of the asset x Double-declining-balance rate = $594,000 x 2 / 5
= $237,600 Year 3:
Book value of the asset
= Initial cost - Depreciation expense in Year 1 - Depreciation expense in Year 2
= $990,000 - $396,000 - $237,600 = $356,400
Depreciation expense = Book value of the asset x Double-declining-balance rate = $356,400 x 2 / 5
= $142,560Year 4: Book value of the asset
= Initial cost - Depreciation expense in Year 1 - Depreciation expense in Year 2 - Depreciation expense in Year 3
= $990,000 - $396,000 - $237,600 - $142,560
= $213,840 Depreciation expense
= Book value of the asset x Double-declining-balance
rate = $213,840 x 2 / 5 = $85,536Year 5: Book value of the asset = Initial cost - Depreciation expense in Year 1 - Depreciation expense in Year 2 - Depreciation expense in Year 3 - Depreciation expense in Year 4
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Skinnerís Fish Market buys fresh Boston blueÖsh daily for $4.80 per pound and sells it for $11.20 per pound. At the end of each business day, any remaining blueÖsh is sold to a producer of cat food for $3.20 per pound. Daily demand can be approximated by a normal distribution with a mean of 88 pounds and a standard deviation of 19 pounds.
1. [4 marks] What are the shortage cost and excess cost?
2. [3 marks] What is the critical ratio?
3. [7 marks] How much fresh Boston blueÖsh should Skinnerís Fish Market order so as to maximize the total expected proÖt?
1. Shortage Cost= $6.40 per pound
Excess Cost= -$8.00 per pound
2. Critical Ratio= 1.00.3.
3. The optimal order quantity= 28.62 pounds
Skinner’s Fish Market is engaged in the business of buying fresh Boston bluefish for $4.80 per pound and selling it for $11.20 per pound. At the end of each business day, any remaining bluefish is sold to a producer of cat food for $3.20 per pound. The daily demand can be approximated by a normal distribution with a mean of 88 pounds and a standard deviation of 19 pounds.
The following are the calculations of the required answers:
1. Shortage Cost and Excess Cost:
Shortage Cost = Selling Price – Purchase Price = $11.20 – $4.80 = $6.40 per pound.
Excess Cost = Salvage Price – Selling Price = $3.20 – $11.20 = -$8.00 per pound (negative value means no excess cost).
2. Critical Ratio:Critical Ratio = (Shortage Cost) / (Shortage Cost + Excess Cost) = 6.4 / (6.4 + 0) = 1.00.3.
3. Order Quantity:Q* = (zσ + µ - D) / A
Where Q* is the optimal order quantity
A is the selling price per unit minus the variable cost per unit = 11.2 – 4.8
= $6.40z is the number of standard deviations from the mean µ.
It can be calculated by dividing the difference between the optimal service level and the mean by the standard deviation.z = (Service Level – Mean) / Standard Deviation = (0.9 – 0.55) / 0.19 = 1.842
D is the mean demand = 88σ is the standard deviation of demand = 19
Therefore,Q* = (1.842 x 19 + 88 - 0) / 6.40 = 28.62 pounds
Thus, Skinner's Fish Market should order 28.62 pounds of fresh Boston bluefish so as to maximize the total expected profit.
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A monopolistically competitive firm and a monopoly are similar because:
a. both firms will earn zero profits in the long run.
b. both firms always operate at their point of minimum average total cost.
c. each firm can raise its price without losing all of its sales.
d. both firms must behave strategically toward other firms in the industry.
e. each firm has a large number of small competitors.
A monopolistically competitive firm and a monopoly are similar because c. each firm can raise its price without losing all of its sales.
Both a monopolistically competitive firm and a monopoly have the ability to raise their prices without losing all of their sales. In a monopolistically competitive market, firms differentiate their products in terms of quality, branding, or other attributes, allowing them to have some degree of market power. This means that they can increase their prices to a certain extent without losing all of their customers, as consumers may still value the unique features offered by the product.
Similarly, a monopoly is a market structure where there is only one seller of a particular product or service. As the sole provider, the monopoly has full control over the price and quantity of the product. It can raise prices and still retain a significant portion of its customers because there are no close substitutes available in the market.
However, it is important to note that while both types of firms have the ability to raise prices without losing all sales, monopolistically competitive firms face more competition from other similar firms compared to a monopoly, which is the sole player in the market.
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The overall average on a process you are attempting to monitor is 75 units. The process standard deviation is 1.95, and the sample size is n=10. What would be the upper and lower controllimit for a 3-sigma control chart? Upper Control Limit (UCL) -units (round your response to two decimal places). Lower Control Limit (LCL))= units (round your response to two decimal places).
The lower control limit (LCL) for the 3-sigma control chart is approximately 73.15 units.
To calculate the upper control limit (UCL) and lower control limit (LCL) for a 3-sigma control chart, we need to use the process average, standard deviation, and sample size.
The UCL for a 3-sigma control chart is calculated as follows:
UCL = Process Average + (3 * Process Standard Deviation / √Sample Size)
Substituting the given values:
UCL = 75 + (3 * 1.95 / √10)
Calculating the value:
UCL = 75 + (5.85 / 3.16) ≈ 76.85
Therefore, the upper control limit (UCL) for the 3-sigma control chart is approximately 76.85 units.
Similarly, the LCL for a 3-sigma control chart is calculated as follows:
LCL = Process Average - (3 * Process Standard Deviation / √Sample Size)
Substituting the given values:
LCL = 75 - (3 * 1.95 / √10)
Calculating the value:
LCL = 75 - (5.85 / 3.16) ≈ 73.15
Therefore, the lower control limit (LCL) for the 3-sigma control chart is approximately 73.15 units.
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QUESTION 7 If an investment center has a HK$90,000 controllable margin and HK$1,200,000 of sales, what average operating assets are needed to have a return on investment of 10%? O HK$120,000 HK$210,000 O HK$900,000 HK$1,200.000
The answer is option C: HK$900,000. The average operating assets required to have a return on investment of 10% are HK$900,000.
Controllable margin is the amount of profit that is available for investment. The formula for the return on investment is ROI = Controllable margin ÷ Average operating assets. Therefore, the formula for average operating assets would be Average operating assets = Controllable margin ÷ ROI.To calculate the average operating assets, the controllable margin and ROI should be known. As per the question, the controllable margin of the investment center is HK$90,000, and the ROI is 10%.Therefore, Average operating assets = Controllable margin ÷ ROI = HK$90,000 ÷ 10% = HK$900,000.
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A properly developed organisational structure will help provide transparency within the organisation, ensuring the complete, timely disclosure of information and enhances competitive advantage for the organisation. Using practical examples and relevant theory, evaluate the applicability of ANY FOUR (4) organisational structures in realising the desired strategy in a competitive business environment. Advise managers on strategic mechanisms for promoting effective coordination of functions and divisions.
Organizational structures promote transparency and competitive advantage, while effective coordination can be achieved through communication, cross-functional teams, performance measurement, and leadership alignment.
Functional Structure: This structure groups employees by specific functions such as marketing, finance, and operations. It enhances specialization and efficiency within departments, enabling a focused approach to achieve the desired strategy. For example, a manufacturing company may have separate departments for production, quality control, and logistics, ensuring effective coordination and streamlined operations.
Divisional Structure: In this structure, the organization is divided based on products, services, or geographical locations. Each division operates as a separate entity, allowing for flexibility and adaptability to market demands. For instance, a multinational company may have divisions for different product categories or regions, enabling a tailored approach to cater to diverse customer needs.
Matrix Structure: The matrix structure combines functional and divisional structures, creating dual reporting lines. It facilitates cross-functional collaboration, resource sharing, and flexibility. This structure is suitable for complex projects or organizations operating in multiple markets. For example, a global marketing agency may have a matrix structure with teams organized by expertise (e.g., digital marketing, content creation) and client accounts.
Network Structure: In a network structure, the organization collaborates with external partners, suppliers, and contractors to leverage expertise and resources. It promotes agility and innovation by tapping into external knowledge and capabilities. For instance, a technology company may partner with startups or research institutions to access cutting-edge technologies and drive product development.
To promote effective coordination of functions and divisions, managers can implement strategic mechanisms such as:
Clear communication channels to facilitate information flow and collaboration.Cross-functional teams that bring together employees from different departments to work towards common goals.Performance measurement systems that align individual and departmental objectives with the overall strategy.Leadership alignment, ensuring that senior executives provide guidance and support for coordination efforts.Learn more about Organizational structures here:
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The following information relates to two activity levels out-patient department in a hospital:
Number of consultations in hospitals 4
500 5750
Overheads
R269 750 R289 125
Fixed overheads are not affected by the number of consultations per period. The variable cost per consultation amounts to:
A. R15,50
B. R44,44
C. R59,94
D. R50,20
The variable cost per consultation in the out-patient department is R59,94. This can be calculated by dividing the difference in overheads (R289,125 - R269,750 = R19,375)
by the difference in the number of consultations (5750 - 4500 = 1250). R19,375 divided by 1250 equals R59,94. Therefore, the answer is C. R59,94. to find the variable cost per consultation, we need to calculate the change in overheads and divide it by the change in the number of consultations. The difference in overheads is R19,375 (R289,125 - R269,750), and the difference in consultations is 1250 (5750 - 4500). Dividing R19,375 by 1250 gives us R59,94, which represents the variable cost per consultation. Therefore, option C is the correct answer.
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what is the difference between an associative model and a time-series model?
The main difference between an associative model and a time-series model lies in their approach to analyzing data. An associative model focuses on identifying relationships and patterns among variables, while a time-series model analyzes data based on its chronological order and the patterns that emerge over time.
An associative model, also known as a regression model, aims to understand the relationships between variables. It explores how changes in one variable are associated with changes in other variables. This model helps uncover cause-and-effect relationships and can be used for prediction and forecasting. For example, an associative model can be used to determine how changes in advertising expenditure impact sales revenue.
On the other hand, a time-series model focuses on analyzing data points in chronological order. It considers patterns and trends that emerge over time. This model is particularly useful when dealing with data that has a time component, such as stock prices, temperature records, or sales data. Time-series models can help identify seasonality, trends, and cyclic patterns, enabling forecasts and predictions based on historical data.
In summary, an associative model explores relationships between variables, while a time-series model analyzes data based on its temporal sequence, identifying patterns and trends over time. Both models provide valuable insights for different types of data analysis and forecasting purposes.
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Question 2: Which was the first, and often considered the most important, economic community in the world? a. European Union O b. World Trade Organization O c. North American Free Trade Agreement O d. General Agreement on Tariffs and Trade
The correct answer is d. General Agreement on Tariffs and Trade (GATT).
GATT was established in 1947 and was the first multilateral agreement aimed at reducing trade barriers and promoting international trade. It laid the foundation for the modern global trading system and served as a precursor to the World Trade Organization (WTO), which was established in 1995. While the European Union (EU), North American Free Trade Agreement (NAFTA), and World Trade Organization (WTO) are important economic communities, GATT holds the distinction of being the first and historically significant in shaping global trade relations.
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4. (1.5 points) An economy starts off with a per capita GDP of 6,500 euros. a. How large will the per capita GDP be if it grows at an annual rate of 3% for 10 years? b. How large will the per capita G
. To calculate the per capita GDP after 10 years of growth at an annual rate of 3%, we can use the formula:
Per Capita GDP (after 10 years) = Per Capita GDP (initial) * (1 + Growth Rate)^Number of Years
Given that the initial per capita GDP is 6,500 euros and the growth rate is 3% (0.03), the calculation would be as follows:
Per Capita GDP (after 10 years) = 6,500 * (1 + 0.03)^10
Per Capita GDP (after 10 years) ≈ 6,500 * 1.3439
Per Capita GDP (after 10 years) ≈ 8,727.35 euros
Therefore, the per capita GDP would be approximately 8,727.35 euros after 10 years of growth at a rate of 3%.
b. To calculate the per capita GDP after 20 years, we can use the same formula:
Per Capita GDP (after 20 years) = Per Capita GDP (initial) * (1 + Growth Rate)^Number of Years
Given the initial per capita GDP is 6,500 euros and the growth rate is 3% (0.03), the calculation would be:
Per Capita GDP (after 20 years) = 6,500 * (1 + 0.03)^20
Per Capita GDP (after 20 years) ≈ 6,500 * 1.8061
Per Capita GDP (after 20 years) ≈ 11,729.65 euros
Therefore, the per capita GDP would be approximately 11,729.65 euros after 20 years of growth at a rate of 3%.
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