The solution is given below:1. Five stages of the Strategy Execution Process are as follows: Formulation of the strategy Communicate the strategy Plan and aligning the resources Execute the strategy Monitor and adapting to the changes
2. A Strategy Execution Process is a decisive moment where a significant change takes place in the market or an organization, which can either break the organization or lead it to the path of success. In simple words, SIP can be defined as a time when the environment or the circumstances of a company change so significantly that they have to reevaluate their strategy to continue being successful.
3. A Strategic Plan is a document that defines an organization's direction and objectives, outlining how the resources will be allocated to achieve those objectives. A strategic plan generally covers a period of three to five years, detailing both long-term and short-term goals.
4. The three Characteristics of Effectively Worded Vision Statements are: They are clear and concise.They are future-oriented.They use inspirational language.
5. Three Common Shortcomings in Company Vision Statements are Lack of specificity. Lack of differentiation.Lack of ambition.
6. It is important to communicate the company's Strategic Vision because it: Creates a shared sense of purpose. Empowers employees.Helps in gaining customers' trust.Provides a framework for decision making.
7. Four sections of a Balanced Scorecard are: Financial Perspective Customer PerspectiveInternal Business PerspectiveLearning and Growth Perspective
8. Stage 5 of executing a chosen strategy is Monitoring and adapting. After implementing the strategy, the organization needs to monitor and track the progress towards achieving the objectives set in the strategic plan. They must identify any potential hurdles or risks that they may face and adapt to them accordingly.
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You expect a share of EconNews.Com to sell for $76 a year from now. If you are willing to pay $75.70 for one share of the stock today, and you expect a dividend payment of $3.00, what rate of return do you require? Multiple Choice 4.4 percent. 3.9 percent. 4.0 percent. 0.4 percent.
Rate of return you require - the correct option is A) 4.4 percent. Expected total return on the stock = (Dividend income + Capital gains) / Investment
Given that you expect a share of EconNews.Com to sell for $76 a year from now, you are willing to pay $75.70 for one share of the stock today, and you expect a dividend payment of $3.00.
You are required to find out what rate of return you require. Let us assume that the required rate of return is x.
Therefore, the formula for the required rate of return is given by;
Expected total return on the stock = (Dividend income + Capital gains) / Investment
Initial investment in the stock = Current stock price
Therefore, you can calculate the required rate of return by using the formula given below;{eq}\begin{align} & x=\frac{76+3-75.70}{75.70}\\ &
x=\frac{3.30}{75.70} \end{align} {/eq}
Therefore, x = 0.04356 ≈ 4.4%.
Hence the required rate of return is 4.4 percent.
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Scenario
Infuse Technology is a small, but growing, consulting firm who has outgrown their previous office space and has secured new premises. This move coincides with a scheduled equipment update and you have been asked to "imagine we’re starting from nothing" and provision all the devices required for their staff and for the office. The company currently has a CEO (Chief Executive Officer), a CTO (Chief Technology Officer), and a CMO (Chief Marketing Officer). They are typically in their own on-premises offices. There are 6 people in sales who are in the office most of the time, except when they are visiting clients. They share a corner of the open plan part of the office space. There are 2 people in marketing apart from the CMO, both of whom are graphic designers (and are always in the office). There is also a project manager, who is always in the office, and 15 consultants who are rarely in the office (only between consulting engagements, the rest of the time is spent with clients). 2 The office space consists of 3 offices for the "chiefs", an open plan area for the staff, a board room, and two small conference rooms where people can do voice and video calls. The office will be connected to the NBN and is not wired for ethernet, so the CTO only wants wireless devices. Every consultant needs a reasonably high-powered laptop, but nothing ridiculously overpowered. They do not need to play games or run virtual machines, but they do need to be able to quickly manipulate documents and large spreadsheets. There are 6 "hot-seats" available in the office for consultants, when they need them, and these positions will require a monitor, a laptop dock, mouse, keyboard etc. to make things easier for them when they are in the office. The sales team can use desktops, but they will require two monitors each. The project manager requires a powerful desktop computer and three monitors for her work. The "chiefs" can have the same hardware configuration as the consultants. The graphic designers in marketing will need high end Macs with two large screens for their work. The two small conference rooms need a reasonably sized wall mounted screen, camera, and audio solution for video conferencing (for up to three people in the room). The board room seats 12 and needs a large screen on the wall for video conferencing, as well as a camera and audio that will allow the whole room to be seen and heard (and they, of course, need to be able to hear the people on the video calls). All the computers will run windows, except the graphic designer’s computers. The CTO wants an Office 365 tenancy to handle email (outlook), conferencing/chat (teams), office applications (Word, PowerPoint, Excel etc.), and storage (one drive). Deliverables Report Due: Week 10, Friday Time: 5pm Your group must write a report to management that will outline the software and hardware equipment you recommend and provide a costing for all they need. You must choose appropriate suppliers and costing can be done using their standard retail prices. You can ignore labour, delivery, and similar costs for this report. Similarly, you can ignore furniture costs except where it is directly related to the equipment choices you are making. For example, you typically will not have to list and cost desks and chairs, but you may have to list and cost monitor arms if you feel that they are required. Your report should contain a justification for the software package and equipment and supplier choices you make. You should also state any assumptions you make with your plans. You should aim to be cost effective.
Our recommended software and hardware ensure cost-effective productivity, collaboration, and communication for Infuse Technology's staff and office needs.
Report on Software and Hardware Recommendations for Infuse Technology's New Office
Introduction:
This report outlines the software and hardware equipment recommendations for Infuse Technology's new office space. The goal is to provide a cost-effective solution that meets the needs of the CEO, CTO, CMO, sales team, graphic designers, project manager, and consultants.
Software Recommendations:
1. Office Suite: Office 365 Tenancy, including Outlook for email, Teams for conferencing/chat, and Office applications (Word, PowerPoint, Excel, etc.) for productivity.
- Justification: Office 365 provides a comprehensive suite of tools for communication, collaboration, and document management, enabling seamless workflow and compatibility across the organization.
- Assumptions: Office 365 subscription pricing based on standard retail prices.
Hardware Recommendations:
1. CEO, CTO, CMO, and Consultants:
- Laptops: High-powered laptops suitable for document manipulation and large spreadsheets.
- Monitors: Each consultant and "chief" requires a single monitor setup.
- Docking Stations: For consultants' hot-seat positions.
- Justification: Laptops offer mobility, while monitors and docking stations enhance productivity during office use.
2. Sales Team:
- Desktop Computers: Suitable for sales tasks with dual-monitor support.
- Justification: Desktops provide stability, power, and the required dual-monitor capability for sales tasks.
3. Graphic Designers in Marketing:
- Macs: High-end Mac computers.
- Dual Large Screens: Two large screens for graphic design work.
- Justification: Macs are known for their performance in graphic design, and dual screens enhance productivity and design capabilities.
4. Project Manager:
- Powerful Desktop Computer: Suitable for project management tasks.
- Triple Monitors: Three monitors to support multitasking and efficient project management.
- Justification: A powerful desktop setup and multiple monitors facilitate effective project management.
5. Conference Rooms:
- Small Conference Rooms: Wall-mounted screens, cameras, and audio solutions for video conferencing (up to three people).
- Board Room: Large screen, camera, and audio setup for video conferencing with clear visibility and audio coverage for all participants.
- Justification: Video conferencing equipment enables effective communication and collaboration with clients and remote teams.
Supplier Recommendations:
1. Software: Microsoft Office 365 - Recommended due to its industry-standard status and comprehensive productivity suite.
2. Hardware: Recommended suppliers based on product quality, pricing, and customer reviews.
- Laptops and Desktops: Dell, HP, or Lenovo.
- Monitors: Dell, HP, or Samsung.
- Macs: Apple Store or authorized resellers.
- Conference Room Equipment: Logitech or Poly.
Costing:
The costing for software and hardware equipment should be based on the standard retail prices provided by the chosen suppliers. Detailed cost breakdowns for each recommended component should be included in the report.
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The Company «One Factor» Is Labor (N) Only Variable Input Factor, While Real Capital Is Fixed. The Product Function Is Thus Given By. The Company Aims To Maximize Profits. (A) What Does The Product Function Show?Assume Now That The Product Function Is Given By, Where A> 0 Shows The Productivity Of The Labor Force. The Salary Is Given By W, And The Product
the company «one factor» is labor (N) only variable input factor, while real capital is fixed. The product function is thus given by. The company aims to maximize profits.
(a) What does the product function show?
Assume now that the product function is given by, where A> 0 shows the productivity of the labor force. The salary is given by w, and the product price P = 1.
(b) Optimal adaptation is there. What will be the company's factor demand function?
(c) How will increased productivity (A) affect the demand for labor?
(d) Assume that A = 10 and w = 5. What will be the demand for labor?
(e) Calculate the company's profits.
The product function represents the relationship between inputs and output in production and is used to analyze efficiency. The optimal adaptation suggests minimizing production costs by efficiently using inputs. An increase in productivity leads to an increased demand for labor. Assuming specific values for productivity and wages, the demand for labor is determined to be 50. The company's profits are calculated by subtracting the total cost from total revenue. With specific values given, the company's profits are determined to be 250.
(a) The product function is a mathematical representation that illustrates the relationship between inputs and output. It is used to analyze the efficiency of production. Therefore, the product function represents the maximum output that can be produced by using the variable inputs (labor) and the fixed inputs (real capital) available to the company.
(b) The optimal adaptation suggests that the company will minimize the cost of production by making efficient use of the inputs to produce the maximum possible output. The company's factor demand function will be given by:
∗ = f(A, w/P)
where ∗ represents the optimal level of labor input that the company should use to maximize profits.
(c) When there is an increase in productivity (A), the marginal product of labor increases, leading to an increase in the demand for labor. This implies that the company will need more labor input to maintain the maximum possible output.
(d) Assuming A = 10 and w = 5, the demand for labor will be given by:
∗ = f(10, 5/1)
∗ = 50
Therefore, the demand for labor will be 50.
(e) The company's profits will be given by the formula:
Profit = Total revenue - Total cost
Since the product price (P) is 1, the total revenue will be equal to the total output (Q). Therefore, the total revenue will be:
Total revenue = Q × P = Q × 1
Total revenue = 10∗
The company's total cost will be the sum of the cost of labor and the cost of capital. Since the capital is fixed, the total cost will be proportional to the labor input (N). Therefore, the total cost will be:
Total cost = w × N
Total cost = 5 × 50 = 250
Therefore, the company's profits will be:
Profit = Total revenue - Total cost
Profit = 10∗ - 250
Profit = 10 × 50 - 250
Profit = 500 - 250
Profit = 250
The company's profits will be 250.
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which of the following statements is TRUE about an insurer's right to screen applicants for HIV?
A. An insurer can require a blood test for HIV
B. An insurer can ask about sexual orientation
C. An insurer can ask about risky sexual behaviors
D. an insurer can use an investigative consumer report to determine sexual orientation
The statement that is TRUE about an insurer's right to screen applicants for HIV is **C. An insurer can ask about risky sexual behaviors**.
Insurers have the right to assess the risk associated with applicants to determine their insurability and appropriate premium rates. In the context of HIV screening, insurers are prohibited from discriminating against individuals based on their HIV status. However, they can inquire about **risky sexual behaviors** that may increase the likelihood of HIV transmission, as this information is relevant to assessing the applicant's overall health risk.
It is important to note that insurers are not allowed to require a blood test specifically for HIV (Option A) as a standard practice. Moreover, asking about an applicant's sexual orientation (Option B) or using an investigative consumer report to determine sexual orientation (Option D) is generally considered discriminatory and is not permitted in insurance underwriting practices.
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Bonds with the same maturity have different yields because they differ in A level of market efficiency and government intervention. B level of credit, liquidity and tax consideration. level of inflation expectation and transaction cost. D) level of debt contracts and principal-agent problem.
Bonds with the same maturity have different yields because they differ in option B) level of credit, liquidity, and tax considerations.
Bonds with the same maturity have different yields because they differ in the level of credit, liquidity, and tax considerations. Credit risk measures the likelihood of an investor losing their money due to the issuer's inability to pay back the principal and interest amounts as agreed. The level of credit of bonds with the same maturity will differ due to the creditworthiness of the issuers. Bonds with higher levels of credit risk will offer higher yields. Liquidity refers to the ease and speed with which an investor can sell or buy a bond. If the bond market is active and liquid, then bond yields will be lower. On the other hand, if the market is illiquid, bond yields will be higher as investors require a higher return for the additional risks they will have to take. Tax considerations are also important in determining bond yields. For instance, municipal bonds issued by local governments and agencies are usually tax-exempt at the federal level. Therefore, these bonds have lower yields than taxable bonds with the same credit quality and maturity level.
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Futures contracts usually focus on all of the following except
A)soybeans.
B)orange juice.
C)rubber.
D)coffee.
Futures contracts typically focus on agricultural commodities such as soybeans, orange juice, rubber, and coffee. Therefore, none of the options (A), (B), (C), or (D) are excluded from the list of commodities commonly associated with futures contracts.
Futures contracts are financial instruments that allow buyers and sellers to enter into agreements to buy or sell a specific asset at a predetermined price and date in the future. These contracts are commonly used in commodities trading to manage price risks and provide market participants with a standardized platform for trading.
Agricultural commodities like soybeans, orange juice, rubber, and coffee are frequently traded using futures contracts. These commodities are subject to price volatility due to various factors such as weather conditions, supply and demand dynamics, and geopolitical events. By using futures contracts, market participants can lock in prices for future delivery, providing stability and reducing uncertainty.
Therefore, it is incorrect to state that any of the options (A), (B), (C), or (D) are excluded from futures contracts. All of these commodities are commonly associated with futures trading, reflecting the diverse range of agricultural products that are actively traded in the futures market.
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Select the statement that represents a situation where informed consent is not operative: A) The complexity of a product has been fully explained to a consumer. B) The customer is not clear about the calculation of the interest rate on a leased product transaction. C) The extended warranty conditions on a product have been fully disclosed to a consumer. D) Warning labels on a product have pointed out any potential hazards associated with operating it. E) All of the above
Option E, "All of the above," represents a situation where informed consent is not operative.
Informed consent refers to the principle that individuals have a right to be fully informed about the details and implications of a transaction or decision and voluntarily give their consent based on that information. It involves ensuring that individuals have a clear understanding of the relevant information, including risks, benefits, terms, and conditions, before making a decision.
Options A, B, C, and D all describe situations where information has been provided to the consumer. In these cases, the consumer has been made aware of the complexity of a product, the calculation of the interest rate, the extended warranty conditions, and the potential hazards associated with operating a product.
However, the question asks for a situation where informed consent is not operative. In option E, "All of the above," it implies that all the situations mentioned involve the provision of information to the consumer. If informed consent were operative, individuals would have a clear understanding of the information provided and make a decision based on that understanding. Since all the options involve information disclosure, none of them represent a situation where informed consent is not operative.
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Problem 4 (25%) Straw Co. is a strawberry cooperative that operates two divisions, a harvesting division and a processing division. Currently, all of harvesting's output is converted into strawberry juice by the processing division, and the juice is sold to large beverage companies that produce strawberry juice blends. The processing division has been approached by outside supplier for 1.05/pound. The processing division has a yield of 1,000 gallons of juice per 1,250 pounds of strawberries. Cost and market price data for the two divisions are as follows: Required 1. Compute minimum and maximum transfer price per pound of strawberries. (2%) 2. Referring to Requirement 1, does internal transfer will take place? Explain! (1%) 3. Compute Straw Co's operating income from harvesting 500,000 pounds of strawberries during June 2021 and processing them into juice using regardless transfer price (using market price). (8%) 4. Straw Co rewards its division managers with a bonus equal to 5% of operating income. Compute the bonus earned by each division manager in June 2021 for each of the following transfer pricing methods: (10%) a. 150% of full cost b. Market price
1. The minimum transfer price per pound of strawberries can be calculated by taking the variable cost per pound of strawberries in the harvesting division. The maximum transfer price per pound of strawberries can be calculated by taking the market price per pound of strawberries in the processing division.
2. Whether internal transfer will take place depends on the comparison of the minimum and maximum transfer prices. If the market price per pound of strawberries is higher than the minimum transfer price, internal transfer will likely take place. However, if the market price is lower than the minimum transfer price, it may be more advantageous for the processing division to purchase strawberries from the outside supplier.
3. To compute Straw Co's operating income, we need to calculate the revenue from selling the processed juice and subtract the costs incurred in the harvesting division. The operating income can be determined by multiplying the pounds of strawberries harvested by the market price per pound, subtracting the variable costs per pound incurred in the harvesting division, and multiplying the resulting amount by the yield rate.
4. To compute the bonus earned by each division manager using different transfer pricing methods, we need to calculate the operating income for each division under those methods. For method a (150% of full cost), we would use the transfer price equal to 150% of the full cost per pound of strawberries. For method b (market price), we would use the actual market price per pound of strawberries as the transfer price. Once we have the operating income for each division under each method, we can calculate the bonus for each division manager as 5% of their respective operating income.
Please provide specific cost and market price data for the two divisions so that I can perform the calculations and provide you with the answers to the questions.
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On November 30, capital balances are Ross $300,000, Ellis $250,000 and Gise $250,000. The income ratios are 20%, 20% and 60%, respectively. Ross decides to retire from the partnership. In order for Ellis and Gise to have equal capital interests after the retirement of Ross, how much partnership cash would have to be paid to Ross for her partnership interest? O $266,667 0 $0 O $300,000 O Any amount paid to Ross will cause Ellis and Gise to still have equal capital balances.
The amount of partnership cash that would have to be paid to Ross for her partnership interest is A) $150,000.
Given capital balances of Ross, Ellis and Gise are $300,000, $250,000 and $250,000 respectively. The income ratios are 20%, 20% and 60%. Ross decides to retire from the partnership. In order for Ellis and Gise to have equal capital interests after the retirement of Ross, we need to find out how much partnership cash would have to be paid to Ross for her partnership interest.
The total capital balance before Ross retires: $300,000 + $250,000 + $250,000 = $800,000
Ross's share of the capital balance: 20% of $800,000 = $160,000
Ellis's share of the capital balance: 20% of $800,000 = $160,000
Gise's share of the capital balance: 60% of $800,000 = $480,000
After Ross retires, Ellis and Gise will each own half of the partnership.
Therefore, the total capital balance will be divided by two:$800,000 ÷ 2 = $400,000However, we need to remember that Ellis already has a capital balance of $250,000. So the amount of cash that needs to be paid to Ross is: $400,000 – $250,000 = $150,000
Therefore, the amount of partnership cash that would have to be paid to Ross for her partnership interest is $150,000. Hence, Option A is the correct answer.
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Why is HR planning integral to a firm's strategic planning? As
an HR professional, what do you think you could do to tie the two
functions together?
HR planning is integral to a firm's strategic planning as it helps organizations determine the current and future human resource needs of the organization to achieve its goals and objectives.
Through HR planning, firms can identify skills and competencies required, align workforce needs with business goals, forecast labor shortages or surpluses, and develop recruitment and training strategies to meet the company's future needs.
As an HR professional, one could tie the two functions together by ensuring that HR plans are aligned with the firm's strategic goals and objectives, identifying the workforce skills, knowledge, and capabilities that are required to achieve these goals.
This will help in forecasting labor needs, developing recruitment strategies, and building employee capability programs to fill skill gaps. Additionally, an HR professional can provide input on the workforce implications of the firm's strategic plans and recommend human resource strategies to support the company's goals.
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What are the strengths, weaknesses, opportunities and threats of
a consignment and thrift business that upcycles clothes
Strengths, weaknesses, opportunities and threats of a consignment and thrift business that upcycles clothes: Strengths
1. Low start-up costs: Upcycling clothes is a cost-effective method that entails obtaining secondhand clothing and repurposing it. This means that businesses do not have to spend a lot of money to start.
2. Potential for high-profit margins: Upcycling clothes is often accompanied by higher profit margins than traditional clothing retail because consumers are willing to pay more for something that is eco-friendly and unique.
3. A focus on sustainability: Upcycling clothing is a sustainable practice that resonates with environmentally conscious consumers.
4. Brand differentiation: Upcycling provides an excellent opportunity for brand differentiation, allowing brands to position themselves as unique and innovative.
Weaknesses1.
Inventory challenges: Thrift and consignment stores face constant inventory challenges due to the constantly changing nature of donated goods.
2. Limited selection: While thrift stores typically offer a large variety of clothing styles, they often lack sizes and colors.
Opportunities
1. A rapidly growing market: Thrift and consignment stores have seen a recent surge in popularity, which is predicted to continue for the foreseeable future.
2. Expansion potential: Thrift stores can expand by offering other upcycled products, such as furniture or home decor.
Threats
1. Competition from fast fashion: Fast fashion retailers like Zara and H&M have a significant portion of the market share and can offer lower prices.
2. Fluctuations in donations: Thrift stores depend on the donations they receive, which can fluctuate based on the economy and consumer trends.
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22. Under which of the following circumstances will an agent acting on behalf of a disclosed principal not be liable to a third party for his actions?
a. He signs a negotiable instrument in his own name and does not indicate his agency capacity.
b. He commits a tort in the course of discharging his duties.
c. He is acting for a non-existent principal which subsequently comes into existence after the time of the agent’s actions on the principal’s behalf.
d. He lacks specific express authority but is acting within the scope of his implied authority.
The correct answer to the question is option D.The answer to the question "Under which of the following circumstances will an agent acting on behalf of a disclosed principal not be liable to a third party for his actions?" is as follows:
An agent is an individual who is authorized to act on behalf of another individual (known as the principal) in a legal or business transaction. They act on the principal's behalf, making the principal liable for any legal responsibilities or obligations. The agent, on the other hand, is only liable in certain cases, such as when they exceed their authority or break the law when conducting the transaction.In the following circumstances, an agent acting on behalf of a disclosed principal will not be held responsible for his actions to a third party:If he lacks specific express authority but is acting within the scope of his implied authority.When an agent acts within the scope of their implied authority, it means they are acting in a way that a reasonable person would assume is authorized based on the nature of the relationship between the agent and principal. The agent will not be liable if the third party has no reason to believe that the agent lacked the authority to act in that manner.In conclusion, the correct answer to the question is option D.
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what Current events are effecting small businesses and the finance
world? And how are they effecting them?
There are several current events that are affecting small businesses and the finance world. One of the most significant is the ongoing COVID-19 pandemic, which has had a profound impact on the economy.
Small businesses in particular have been hit hard, with many struggling to stay afloat due to reduced demand and supply chain disruptions. Governments around the world have introduced a range of measures to support businesses, including loans and grants, but these have not been enough to prevent many small businesses from closing down.
Another event that has had a significant impact on small businesses and finance is the US-China trade war. This has led to increased tariffs on a range of goods, which has made it more difficult for small businesses to import and export goods. Many small businesses have had to find new suppliers and adjust their business models to account for the increased costs associated with tariffs.
The recent protests and civil unrest in the United States have also had an impact on small businesses, particularly those located in areas affected by the unrest. Many small businesses have been forced to close temporarily due to safety concerns, and some have suffered damage and looting. This has added to the financial pressures facing many small businesses, which are already struggling due to the pandemic and other economic factors.
In conclusion, the COVID-19 pandemic, the US-China trade war, and civil unrest are some of the major current events that are affecting small businesses and the finance world. These events have created significant challenges for small businesses, which have had to adapt to survive. While governments and other organizations have introduced measures to support businesses, it remains to be seen how effective these measures will be in the long run.
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c. Jennings believes that a $1 reduction in price will in- crease sales by 50 percent. Is this enough for Jennings to break even? If not, by how much would sales have to increase? d. Jennings is considering ways to either stimulate sales volume or decrease variable cost. Management be- lieves that either sales can be increased by 30 percent or that variable cost can be reduced to 85 percent of its current level. Which alternative leads to higher contributions to profits, assuming that each is equally costly to implement? (Hint: Calculate profits for both alternatives and identify the one having the greatest profits.) e. What is the percent change in the per-unit profit contribution generated by each alternative in part (d)? 2. A product at the Jennings Company enjoyed reasonable sales volumes, but its contributions to profits were disap- pointing. Last year, 17,500 units were produced and sold. The selling price is $22 per unit, the variable cost is $18 per unit, and the fixed cost is $80,000. a. What is the break-even quantity for this product? Use both graphic and algebraic approaches to get your answer. b. If sales were not expected to increase, by how much would Jennings have to reduce their variable cost to break even?
Previous question
c. To determine if Jennings will break even, we need to calculate the contribution to profits from the increase in sales.
Current sales volume = 17,500 units
Current selling price = $22 per unit
Current variable cost = $18 per unit
Current fixed cost = $80,000
Profit per unit = Selling price - Variable cost = $22 - $18 = $4
Contribution to profits from current sales = Profit per unit × Current sales volume = $4 × 17,500 units = $70,000
If the price is reduced by $1, the new selling price will be $22 - $1 = $21.
The expected increase in sales is 50 percent. Therefore, the new sales volume will be 17,500 units + (0.5 × 17,500 units) = 26,250 units.
Contribution to profits from increased sales = Profit per unit × Increased sales volume = $4 × 26,250 units = $105,000
Since the contribution to profits from the increased sales ($105,000) is higher than the current contribution to profits ($70,000), Jennings will break even.
d. To compare the alternatives, let's calculate the profits for both scenarios:
Alternative 1: Increase sales volume by 30%
New sales volume = 17,500 units + (0.3 × 17,500 units) = 22,750 units
Profit from increased sales volume = Profit per unit × New sales volume = $4 × 22,750 units
Alternative 2: Reduce variable cost to 85% of its current level
New variable cost per unit = 0.85 × Current variable cost = 0.85 × $18
Profit from reduced variable cost = Profit per unit × Current sales volume = $4 × 17,500 units
To determine which alternative leads to higher contributions to profits, compare the profits from each alternative.
e. To calculate the percent change in the per-unit profit contribution, we can use the following formula:
Percent change = ((New value - Old value) / Old value) × 100
For Alternative 1 (increased sales volume):
Percent change in per-unit profit contribution = ((Profit from increased sales volume - Current profit per unit) / Current profit per unit) × 100
For Alternative 2 (reduced variable cost):
Percent change in per-unit profit contribution = ((Profit from reduced variable cost - Current profit per unit) / Current profit per unit) × 100
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Use the diagram below to answer the question below: S₁ P3 Price p 5 D3 D₁ 92 9₁ Quantity q Assume that the above diagram represents the market for sanitisers during the pandemic at an equilibrium point q1p₁. Which of the following would we use to best illustrate what would happen as the pandemic ends? A. a shift from D3 towards D2 B. a shift from S₁ to S2 O C. a movement from point p191 to point p192 O D. the market will remain at equilibrium point p191
The correct option is A. To best illustrate what would happen as the pandemic ends in the market for sanitizers, we would use option A: a shift from D3 towards D2.
During the pandemic, the demand for sanitizers increased significantly (represented by the demand curve D3). However, as the pandemic comes to an end, the demand for sanitizers is expected to decrease. This could happen due to factors such as improved public health conditions, availability of vaccines, and reduced concerns about the spread of the virus.
A shift from D3 towards D2 indicates a decrease in demand, reflecting the changing consumer behavior as the pandemic subsides. This shift implies that at any given price level, the quantity demanded for sanitizers would be lower compared to the peak demand during the pandemic.
Options B, C, and D do not capture the expected changes in the market as the pandemic ends. Option B suggests a shift in supply, which may not necessarily be the case unless there are specific changes in the supply of sanitizers. Option C implies a movement along the demand curve, which does not account for the overall change in demand. Option D assumes that the market will remain at the same equilibrium point, which is unlikely as the pandemic situation changes.
Therefore, option A, a shift from D3 towards D2, best illustrates what would happen as the pandemic ends in the market for sanitizers.
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According to the Bureau of Labor Statistics, the actual unemployment rate was 12% in February 2017 and the natural rate of unemployment was 5%. The ____unemployment rate was ___
A) frictional;4%
B) cyclical; 7%
C) cyclical; 9%
D) structural; 4%
The natural rate of unemployment refers to the level of unemployment that exists when the economy is in a state of equilibrium, with no cyclical fluctuations. In this case, the natural rate of unemployment is given as 5%. The actual unemployment rate, as reported by the Bureau of Labor Statistics, is 12% in February 2017.
To determine the cyclical unemployment rate, we need to calculate the difference between the actual unemployment rate and the natural rate of unemployment. Therefore, the cyclical unemployment rate would be 12% - 5% = 7%. Hence, the correct answer is B) cyclical; 7%. This indicates that the 7% difference between the actual unemployment rate and the natural rate of unemployment represents the cyclical unemployment caused by deviations from the economy's long-term equilibrium.
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industry structure and evolution are powerful drivers of average incumbent’s profitability
Industry structure and evolution indeed play significant roles in shaping the average profitability of incumbent firms.
The structure of an industry refers to the characteristics and dynamics of the market in which firms operate, such as the number of competitors, barriers to entry, and the degree of product differentiation. The evolution of an industry encompasses changes in technology, consumer preferences, regulations, and competitive forces over time.
The competitive forces within an industry, as described by Michael Porter's Five Forces framework, directly impact incumbent firms' profitability. For example, in industries with high barriers to entry, limited competition allows incumbents to maintain higher profit margins. On the other hand, in highly competitive industries with low barriers to entry, price competition can squeeze profit margins for all firms.
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Choose an incorrect answer about trade:
Group of answer choices
Trade as % of GDP is more in the U.S. than in Canada or
Mexico.
Growth of international trade has been growing in the past
century.
Cost
This statement is incorrect since Mexico has a higher trade as a percentage of its GDP than the US. According to the World Bank, in 2019, Mexico had a trade as a percentage of its GDP of 77.4%, while the US had a trade as a percentage of its GDP of 27.1%.
Trade is the exchange of goods and services between countries or regions. The growth of international trade has been growing in the past century. The World Trade Organization (WTO) was established in 1995 to regulate international trade among its member countries. Trade promotes economic growth and development and creates employment opportunities. Countries specialize in producing goods and services that they have a comparative advantage in, and then trade with other countries for goods and services that they need. Trade can occur in two ways: bilateral and multilateral.
Bilateral trade is between two countries, while multilateral trade involves more than two countries. Trade can be beneficial to both parties if the terms of trade are fair. However, some critics argue that trade can lead to exploitation and environmental degradation. Trade can also be affected by factors such as tariffs, quotas, and exchange rates. Tariffs are taxes on imported goods, while quotas limit the amount of goods that can be imported. Exchange rates affect the price of imported goods. When a country's currency appreciates, its exports become more expensive and its imports become cheaper.
In conclusion, trade is an essential aspect of the global economy. Trade as % of GDP is more in Mexico than in the US, which is an incorrect answer. The growth of international trade has been increasing in the past century, and the WTO was established to regulate international trade. Trade can promote economic growth and development, but it can also have negative impacts such as exploitation and environmental degradation. Factors such as tariffs, quotas, and exchange rates can affect trade.
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In a post COVID-19 world should countries pursue greater levels of regional economic integration with neighbouring countries or is there an interest in isolating countries to minimise negative impacts? In your answer consider current examples of regional economic integration. (10 marks, 400-word limit)
In a post-COVID-19 world, countries should pursue greater levels of regional economic integration with neighboring countries to promote economic recovery, resilience, and shared benefits.
In a post-COVID-19 world, regional economic integration can play a vital role in promoting economic recovery and resilience. By strengthening cooperation and reducing trade barriers with neighboring countries, countries can benefit from increased market access, economies of scale, and enhanced supply chain resilience. Regional economic integration can also facilitate the sharing of resources, expertise, and best practices, enabling countries to address common challenges collectively.
Examples like the European Union (EU) and the Association of Southeast Asian Nations (ASEAN) demonstrate the benefits of regional economic integration. The EU has established a single market and customs union, facilitating the free movement of goods, services, capital, and labor among its member states. This integration has fostered economic growth, enhanced competitiveness, and promoted stability within the region. Similarly, ASEAN has made significant strides in regional economic integration, including the establishment of the ASEAN Economic Community, which aims to create a single market and production base.
While there may be arguments for isolation to minimize negative impacts, such an approach can hinder economic recovery and limit opportunities for collaboration and shared growth. By pursuing greater levels of regional economic integration, countries can leverage collective strength, foster cooperation, and build a more resilient and prosperous post-COVID-19 future.
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Creating the work breakdown structure is developed through
scheduling phase of project management
True
False
False is the correct answer. Creating the work breakdown structure is not developed through the scheduling phase of project management.
What is a Work Breakdown Structure?A Work Breakdown Structure (WBS) is a hierarchical chart that divides a project into smaller, more manageable pieces. It organizes and groups all of the project's activities into work packages and tasks. It provides a comprehensive view of a project, allowing managers to better plan and allocate resources, estimate costs and schedules, and track progress. The first step in developing a Work Breakdown Structure (WBS) is to identify all of the project's deliverables.Each deliverable is divided into smaller and more manageable components. The procedure of breaking down a deliverable into smaller components continues until the lowest-level activities, also known as work packages, are reached. A work breakdown structure may be used for any type of project, including product development, software development, and construction. It is a fundamental tool for planning and executing a successful project.
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Elementary textile production was found in several locations throughout Africa. Select two accurate statements about this budding proto-industry.
a. Incomes from the Nubian gold mines were used to pay for the establishment of local textile weavers.
b. Archeological findings provide evidence that West Africa had a long tradition of professionally organized production of cotton cloth.
c. Madagascar is known for its early silk production.
d. In the 12th century, Great Zimbabwe became a leading textile producer.
b. Archeological findings provide evidence that West Africa had a long tradition of professionally organized production of cotton cloth.
This statement is accurate. Archeological evidence supports the existence of a well-established textile industry in West Africa, particularly in regions such as present-day Mali, Ghana, and Nigeria. The discovery of ancient textile artifacts, including intricate weaving techniques and elaborate designs, indicates a long tradition of textile production in the region. These textiles were produced using locally grown cotton, and the craftsmanship and quality of the fabrics suggest a high level of professional organization and skill.
d. In the 12th century, Great Zimbabwe became a leading textile producer.
This statement is accurate. Great Zimbabwe, an ancient city located in present-day Zimbabwe, was a significant center of trade and industry during the 12th century. Archaeological evidence suggests that the inhabitants of Great Zimbabwe were engaged in various economic activities, including agriculture, mining, and textile production. Textiles were produced using locally available materials, such as cotton and wild silk, and were highly valued for their quality and craftsmanship. The presence of textile production in Great Zimbabwe contributed to the city's economic prosperity and its position as a leading center of trade in the region.
It's important to note that neither statement mentions the Nubian gold mines or early silk production in Madagascar, so options a and c are not accurate statements.
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On January 1, 2020, Pear Company issued 10% bonds with a face amount of $240,000. The bonds were priced at $210,000 to yield 12%. Interest is paid semiannually on June 30 and December 31. Pear Company's fiscal year ends September 30. Instructions (a) What amount(s) related to the bonds would Pear Company report in its balance sheet at September 30, 2020? (b) What amount(s) related to the bonds would Pear Company report in its income statement for the year ended September 30, 2020? © What amount(s) related to the bonds would Pear Company report in its statement of cash flows for the year ended September 30, 2020? In which section() should the amount(s) appear?
a. The amount related to the bonds Pear Company would report in its balance sheet at September 30, 2020, includes two types of accounts -
(1) Current liabilities, and
(2) Long-term liabilities.
On January 1, 2020, Pear Company issued bonds with a face amount of $240,000, priced at $210,000.
Since Pear Company's fiscal year ends September 30, 2020, the amount of accrued interest for the period of July 1, 2020, to September 30, 2020, should be included in the current liabilities section of the balance sheet.
However, the face amount less the bond discount of $30,000 ($240,000 - $210,000) would be reported as long-term liabilities.
b. Pear Company would report the interest expense on the bond in its income statement for the year ended September 30, 2020. The interest expense is calculated as follows:
Face amount of bond x Interest rate = Annual Interest Payment
$240,000 x 10% = $24,000.
Since the interest is paid semi-annually, the interest expense for the six months ending
September 30, 2020, would be $12,000.
c. In its statement of cash flows for the year ended September 30, 2020,
Pear Company would report the payment of interest expense of $12,000 under the operating activities section.
Also, Pear Company would report the receipt of
$120,000 ($240,000 face amount x 10% interest rate x 6/12 payment period)
from bondholders under the investing activities section.
The company would not report the bond issue as a financing activity as Pear Company issued the bond on
January 1, 2020, which is outside the statement of cash flows period.
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Un unlevered (all-equity) firm has 500,000 common shares trading at $80 per share. With its investment plan fixed, it is expected to generate a perpetual EBIT stream of $6 million per year. The corporate tax rate is 40%. The firm is contemplating taking on debt by issuing a $20 million face value perpetual bond carrying 5% coupon interest per year and using the proceeds to retire some of its stock outstanding. PROBLEM 2 (9 points: 3 points for each part) a) What will be the share price after the firm changes its capital structure? b) Suppose you are holding 100 shares bought at $80 per share just before the firm changes its capital structure. How much capital gain tax will you pay by selling your 100 shares just after the firm's change its capital structure. Assume that the capital gain will be taxed at half of the 40% corporate tax rate?< c) What will be the firm's WACC after the firm changes its capital structure?
a) To calculate the share price after the firm changes its capital structure, we need to determine the new number of shares outstanding and the new value of the firm.
Initially, the firm has 500,000 common shares trading at $80 per share, resulting in a total market value of $40 million (500,000 shares * $80 per share).
When the firm takes on debt and uses the proceeds to retire some of its stock, the value of the firm remains the same at $40 million. Therefore, the new number of shares outstanding can be calculated as:
New Number of Shares = Initial Number of Shares - Shares Retired
New Number of Shares = 500,000 - (Proceeds from Debt / Share Price)
The proceeds from the debt issuance are $20 million, and the face value of the perpetual bond is $20 million. Since the bond carries a 5% coupon interest, the annual interest payment will be $20 million * 5% = $1 million. The interest payment is tax-deductible, so it reduces the firm's taxable income by $1 million * (1 - 0.4) = $600,000.
The net cost of debt (after tax) is $1 million - $600,000 = $400,000.
The new number of shares outstanding is:
New Number of Shares = 500,000 - ($20 million / $80 per share)
New Number of Shares = 500,000 - 250,000
New Number of Shares = 250,000
The new share price is:
New Share Price = Value of the Firm / New Number of Shares
New Share Price = $40 million / 250,000
New Share Price = $160
Therefore, the share price after the firm changes its capital structure is $160 per share.
b) If you are holding 100 shares bought at $80 per share just before the firm changes its capital structure, the capital gain can be calculated as:
Capital Gain = (New Share Price - Purchase Price) * Number of Shares
Capital Gain = ($160 - $80) * 100
Capital Gain = $8,000
The capital gain tax is calculated as half of the corporate tax rate, which is 0.5 * 0.4 = 0.2 or 20%.
Capital Gain Tax = Capital Gain * Tax Rate
Capital Gain Tax = $8,000 * 0.2
Capital Gain Tax = $1,600
Therefore, you will pay $1,600 in capital gain tax by selling your 100 shares just after the firm changes its capital structure.
c) The Weighted Average Cost of Capital (WACC) takes into account the cost of equity and the cost of debt. The cost of equity can be estimated using the Capital Asset Pricing Model (CAPM), and the cost of debt is the yield on the perpetual bond.
The cost of equity can be calculated as:
Cost of Equity = Risk-Free Rate + Beta * Equity Risk Premium
Given that the firm is all-equity, the beta is zero, and the equity risk premium can be assumed to be the same as the historical equity risk premium.
Assuming a risk-free rate of 4% and an equity risk premium of 6%, the cost of equity is:
Cost of Equity = 4% + 0 * 6% = 4%
The cost of debt is the coupon interest rate of the perpetual bond, which is 5%.
To calculate the WACC, we need to determine the weights of equity and debt in the capital structure. Since the firm has retired some of its stock using debt proceeds, the new weights can be calculated as:
Equity Weight = New Number of Shares * New Share Price / Value of the Firm
Equity Weight = 250,000 * $160 / $40 million
Equity Weight = 1
Debt Weight = Debt / Value of the Firm
Debt Weight = $20 million / $40 million
Debt Weight = 0.5
The WACC is then calculated as:
WACC = (Equity Weight * Cost of Equity) + (Debt Weight * Cost of Debt)
WACC = (1 * 4%) + (0.5 * 5%)
WACC = 4% + 2.5%
WACC = 6.5%
Therefore, the firm's WACC after the change in capital structure is 6.5%.
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Che Required information The Foundational 15 (Algo) [LO2-1, LO2-2, LO2-3, LO2.4) The following Information applies to the questions displayed below! Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started, completed, and sold only two jobs during the year-Job P and Job Q. The company uses a plantwide predeterinined overhead rate based on machine hours. At the beginning of the year , it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $32,200 of fixed monufacturing overhead cost for the coming period and variable manufacturing overhead of $3,50 per machine-hour Because Sweeten has two manufacturing departments-Molding and Fabrication-It is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine hours. The company gathered the following additional Information to enable calculating departmental overhead rates: Molding Fabrication Total Estimated total machine-hours used 2,500 1,500 4.000 Estimated total fixed manufacturing overhead $ 14,500 $17.700 $ 32,200 Estimated variable manufacturing overhead per machine-hour $ 3.20 $4.00 The direct materials cost, direct labor cost and machine-hours used for Jobs P and Q are as follows: Job Job Direct materials 5 31,000 $ 17,000 Direct labor cost $ 35,400 $ 14,700 Actual machine-hours used Molding 3,500 2,600 Fabrication 2,400 2.700 Total 5,900 Sweeten Company had no overapplied or underapplied manufacturing overhead cos during the year. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. 5,300 HE Next > Foundational 2-14 (Algo) 14. Assume that Sweeten Company uses cost.plus pricing and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. If Job P includes 20 units and Job includes 30 units, what selling price would the company establish for Jobs P and Q? What are the selling prices for both jobs when stated on a per unit basis? (Do not round intermediate calculations. Round your final answers to nearest whole dollar) Total price for the job Selling price per unit Job P $ 215,100 $ $ 10,755 $ Job 175,968 5,865
Sweeten Company uses cost-plus pricing with an 80% markup on total manufacturing cost to establish selling prices for its jobs.
To determine the selling prices for Jobs P and Q, the company applies an 80% markup to the total manufacturing cost of each job. For Job P, the total manufacturing cost is $92,300, calculated by summing the direct materials cost, direct labor cost, and applied overhead. Applying an 80% markup to the manufacturing cost, the selling price for Job P is $166,140. Dividing this amount by the 20 units in Job P yields a selling price per unit of $10,755.
For Job Q, the total manufacturing cost is $50,700, obtained by adding the direct materials cost, direct labor cost, and applied overhead. Applying an 80% markup, the selling price for Job Q is $91,260. Dividing this by the 30 units in Job Q results in a selling price per unit of $5,865.
Hence, the selling price established by Sweeten Company for Job P is $215,100 ($10,755 per unit), and for Job Q, it is $175,968 ($5,865 per unit) when stated on a per unit basis.
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b. determine the inventory balances on february 28, the end of the first month of operations.
To determine the inventory balances on February 28, the end of the first month of operations, we need to know the total inventory purchases and total sales made during the month, along with the beginning inventory balance.
The inventory balances can be calculated using the following formula:Beginning Inventory + Purchases - Cost of Goods Sold (COGS) = Ending InventoryOn February 1, the beginning inventory balance was $12,000. During the month of February, we need to calculate the total inventory purchases and total sales made during the month,
along with the beginning inventory balance. the company made purchases of $55,000 and sales of $62,000. The cost of goods sold is calculated as follows:Cost of Goods Sold (COGS) = Beginning Inventory + Purchases - Ending InventoryTherefore, we need to calculate the ending inventory to determine the inventory balance on February 28.$12,000 + $55,000 - COGS = Ending Inventory$67,000 - COGS = Ending InventoryNow we need to calculate the cost of goods sold.
the inventory balance on February 28, the end of the first month of operations, is $5,000. This is the detailed answer of the given question.
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0.2 There are 2 commodities X and Y. Total amount of labour required by X and Y = 400 units. Labour is made up of present labour (Pr) and past labour (P). The ratio for X Pr:P- 1:3 an for Y Pr:P - 3:1. By utilising all the labour we can produce 100 units of both the commodities. It is also given that to produce 100 units of X we need uniform rate of capital accumulation for 4 years and to produce 100 units of Y we need accumulation for 2 years The economy is divided into 2 periods. Period 1: Where wages - $1 and Profits - 50% Period 2: where wages $ 2 and profits 10%. Show how profits and prices behave over the period of time. What is the solution given by Ricardo to remove Gluts from the society? Where will the economic progress halt? [7+6+2 - 15 Marks
Period Cost (C) Price Profit1 st period
X 2.44C
3.66C
1.22C
Y2.25C
3.375C
1.125C
2nd period
X1.4641C
1.6064C
0.1464C
Y1.21 C
1.331C
0.121C
According to Ricardo, the glut could be removed by:(i) the increase in wages of workers(ii) more taxes on profits(iii) by exportation.The economic progress will halt at the point of diminishing returnsExplanation:
Given that,There are two commodities X and Y.Total amount of labor required by X and Y = 400 units. Labor is made up of present labor (Pr) and past labor (P).
The ratio for X Pr:P- 1:3 and for Y Pr:P - 3:1.By utilizing all the labor, we can produce 100 units of both the commodities.
To produce 100 units of X we need a uniform rate of capital accumulation for 4 years, and to produce 100 units of Y we need accumulation for 2 years.
The economy is divided into 2 periods.
Period 1: Where wages - $1 and Profits - 50%
Period 2: Where wages $ 2 and profits 10%.
Let us first calculate the labor required by commodity X and commodity Y using the following formula:
Total labor required for
X = 1x + 3(1)P
= x + 3P
Total labor required for
Y = 3x + 1P
Using all labor, we can produce 100 units of both commodities.
∴ X + 3P + 3X + P
= 400X + 2P
= 100 …(1)
4X + 2P = 100 …(2)
By solving eq (1) and (2), we get:
X = 50/3P
= 50/3
Hence,
Total labor required for,
X = (50/3) + (3/1)
= 59.33
Total labor required for
Y = 3(50/3) + 1(3)
= 52
Now, we need to calculate the rate of capital accumulation required to produce 100 units of commodity X and Y:
To produce 100 units of X, uniform rate of capital accumulation for 4 years is required,
∴ Y= C(1+r)⁴ …(3)
To produce 100 units of Y, uniform rate of capital accumulation for 2 years is required,∴
Y = C(1+r)² …(4), Where C is the capital, and r is the rate of accumulation.
Substituting (3) and (4) in eq(2), we get:
C(1+r)⁴ + C(1+r)² = 100
⇒ C(1+r)² (1+r)² + (1+r)² = 100
⇒ C(1+r)² = 100/(1+r)⁴ …(5)
The profit earned in the 1st period and 2nd period are calculated as follows:
Period 1
Wages = $1
Profits = 50%
Commodity X:The cost of producing 100 units of X is,
= C (1+r)⁴
= C(1+0.5)⁴
= C x 1.5⁴
= 2.4414C
Profit on X = 50% of the cost
= 1.22C
Price of X = cost of X + profit on X
= 2.44C + 1.22C = 3.66C
Commodity Y:The cost of producing 100 units of Y is
= C(1+r)²
= C(1+0.5)²
= C x 1.5²
= 2.25C
Profit on Y = 50% of the cost = 1.125C
Price of Y = cost of Y + profit on Y
= 2.25C + 1.125C = 3.375C
Period 2:
Wages = $2
Profits = 10%
Commodity X: The cost of producing 100 units of X is,
= C (1+r)⁴
= C(1+0.1)⁴
= C x 1.1⁴
= 1.4641C
Profit on X = 10% of the cost
= 0.1464C
Price of X = cost of X + profit on X
= 1.46C + 0.1464C = 1.6064C
Commodity Y:The cost of producing 100 units of Y is,
= C(1+r)²
= C(1+0.1)²
= C x 1.1²
= 1.21C
Profit on Y = 10% of the cost = 0.121C
Price of Y = cost of Y + profit on Y
= 1.21C + 0.121C = 1.331C
Thus, prices and profits behavior over a period of time as follows: Prices and profits behavior over a period of time
Period Cost (C) Price Profit1 st period
X 2.44C
3.66C
1.22C
Y2.25C
3.375C
1.125C
2nd period
X1.4641C
1.6064C
0.1464C
Y1.21 C
1.331C
0.121C
Ricardo's solution to remove gluts from society: According to Ricardo, the glut could be removed by:(i) the increase in wages of workers(ii) more taxes on profits(iii) by exportation
Where will the economic progress halt?
The economic progress will halt at the point of diminishing returns. Diminishing returns occur when an increase in inputs leads to a less-than-proportional increase in output because one factor is limited. This happens when additional units of labor (and capital) are added to a fixed amount of land (or natural resources).
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What is the definition of "normative" when we talk about managerial ethics and "normative ethical theory"? O Prescriptive O Conceptual Mandatory O Cultural O Descriptive Question 25 1 pts Which of the following is NOT one of the philosophical origins of ethical norms? Rights Utility Caring O Justice Virtue
When we talk about managerial ethics and normative ethical theory, the definition of normative is prescriptive.
This means that normative ethical theories prescribe ethical principles or values that guide individuals and organizations to make morally right decisions. A normative ethical theory is a framework that sets the standard or guides the behavior of individuals and organizations to act or do things in the right way. This type of ethical theory is often referred to as prescriptive because it provides moral principles that prescribe how people should behave to ensure the greater good of society. Normative ethical theories are mainly concerned with identifying ethical standards that individuals and organizations ought to follow. The philosophical origins of ethical norms are Rights, Utility, Justice, Virtue, and Caring. These philosophical approaches set the foundation for the development of ethical norms and principles that guide individuals and organizations in their decision-making process. Rights - This philosophical approach is concerned with protecting individual rights and freedoms that should not be taken away by other individuals or organizations. Utility - This philosophical approach is concerned with promoting the greatest good for the greatest number of people. Justice - This philosophical approach is concerned with ensuring fairness and impartiality in the distribution of benefits and harms. Virtue - This philosophical approach is concerned with character development and the cultivation of ethical virtues in individuals. Caring - This philosophical approach is concerned with promoting the well-being and happiness of others through empathy, compassion, and care.
Therefore, this is the correct answer.
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The story of the Lac Mégantic incident represents an important chapter in the modern era of procurement, transportation, and risk management. On July 6, 2013, a runaway train composed of 72 tank cars transporting volatile crude oil from North Dakota to the east coast derailed in the center of a town in rural Quebec- leaving part of Lac Megantic incinerated...and 47 people dead. Soon after of the crash – when many bodies were still being identified -- lawyers from America turn up in town, offering to help families fight for compensation. Working with them, behind the scenes is a shadowy Texan who's made a career out of turning disasters into dollars. He’s not a lawyer...but he has plenty of experience doing one thing: signing up victims of tragic accidents -- and referring them to law firms for a fee. A kind of ambulance chaser, or what’s called a "case runner." It’s a practice that has grown so out of hand in Texas they made it illegal. But nothing stopped the Texan from making millions in Quebec. Radio-Canada’s Enquete program, Mark Kelley reports on The Case Runner. The case also provides valuable lessons in global logistics and procurement.
What are the responsibilities of the countries to protect their own people regarding the procurement and transportation of dangerous products?
The Exporters:
The Importers:
The Government:
What are lessons that can be learned in risk products supply chain?
There are many lessons that can be learned in risk products supply chain as the Lac Mégantic incident represents an important chapter in the modern era of procurement, transportation, and risk management. Given below are the responsibilities of the countries and the lessons that can be learned in risk products supply chain.
The Exporters: The exporters have the responsibility of producing goods of safe quality and ensuring the safety of products that are exported. The exporters should carry out testing and provide clear information on products, including labelling, packaging, and instructions for safe use.
The Importers: The importers have a responsibility to ensure that the products they import are safe. Importers should check with their suppliers to ensure that the goods they import meet the safety standards set by the government. The importers should keep track of the products they receive and should report any defects or safety issues to the government.
The Government: The government has a responsibility to establish regulations and standards for the production, transportation, and sale of goods. The government should establish safety standards and enforce them by carrying out inspections and imposing penalties for violations.
The government should work with the industry to develop guidelines for the safe handling and transportation of hazardous materials. Lessons that can be learned in risk products supply chain are: It is important to establish clear and enforceable regulations for the transportation and handling of hazardous materials.
Training should be provided to employees to ensure they understand the risks associated with hazardous materials. The industry should be encouraged to use safer alternatives to hazardous materials wherever possible. Effective communication is key to ensuring the safety of hazardous materials during transportation and handling.It is important to carry out regular safety inspections and maintenance of equipment used for the transportation and handling of hazardous materials.
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3. Consider the market for ground beef and burger buns. Please draw a supply and demand graph and offer a brief written explanation for each of these phenomenons. a. The price of burger buns have gone up and the quantity of ground beef traded has also risen. Could this be due to a fall in the price of flour or a fall in the price of cow feed? [5 points] b. The price of ground beef has dropped and the quantity of burger buns have also decreased. Could this be due to a rise in the price of flour or a fall in the price of cow feed? [5 points]
If the price of cow feed increases, it will decrease the supply of beef, raising the price and lowering the quantity demanded of burger buns, resulting in a decrease in the quantity demanded of burger buns.
a. The price of burger buns have gone up and the quantity of ground beef traded has also risen. As a result of the rising price of burger buns, the quantity demanded decreases. However, as the cost of burger buns rises, the quantity supplied increases. Ground beef quantity also increases, indicating a supply shift. If the price of flour falls, the supply curve for buns will shift to the right, increasing the quantity supplied, and pushing down prices. However, if the price of cow feed falls, the supply curve for beef will shift to the right, increasing the quantity supplied, and lowering the price. This would result in a decrease in the price of ground beef and an increase in the quantity demanded, increasing the price of burger buns traded and its quantity.
b. The price of ground beef has dropped and the quantity of burger buns have also decreased. The price of burger buns also falls, implying a decrease in the quantity demanded. This can happen because the fall in the price of ground beef would result in a decrease in the supply of beef, causing an increase in the price of cow feed. As a result, if the price of cow feed increases, it will decrease the supply of beef, raising the price and lowering the quantity demanded of burger buns, resulting in a decrease in the quantity demanded of burger buns.
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Question 17 3.5 pts A data analysis technique that answers the question "why did this happen?" is an example of which type of analytic?
Descriptive Diagnostic Predictive Prescriptive
Analytic tools are useful in analyzing data sets to evaluate their value and allow for better decision-making. There are various types of analytics, each with its unique applications. Descriptive analytics, diagnostic analytics, predictive analytics, and prescriptive analytics are the four primary types of analytics.
Data analysis technique that answers the question "why did this happen?" is an example of Diagnostic analytic type. To have a proper understanding of the analytic types, read the following:Descriptive analytic: It answers what happened in the past or what is currently happening. This technique is generally used for summarizing the data and its structure.Diagnostic analytic: It answers why something happened. The analytic technique is used to identify the cause or root of the problem.Predictive analytic: It is used to forecast future events by examining the current and past data. It mainly focuses on developing predictive models by analyzing the data.Prescriptive analytic: It is used for making decisions and providing prescriptions. This type of analytic is useful in determining what should be done to achieve specific goals.Therefore, data analysis technique that answers the question "why did this happen?" is an example of Diagnostic analytic type.Analytic tools are useful in analyzing data sets to evaluate their value and allow for better decision-making. There are various types of analytics, each with its unique applications. Descriptive analytics, diagnostic analytics, predictive analytics, and prescriptive analytics are the four primary types of analytics.
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