The two classes of instructions you must distinguish between when using the counting instructions method of measuring efficiency are "basic" and "exceptional."
The counting instructions method of measuring efficiency The counting instruction method is used to measure the efficiency of a program. It counts the number of instructions executed. The use of this method is simple and straightforward. It merely counts the number of machine instructions executed during the program's execution. The algorithm's running time is proportional to the number of instructions executed. To improve the accuracy of the count, two classes of instructions are distinguished: "basic" and "exceptional."
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identify the role and responsibility of the Board and its committees and their relationship to both shareholders and stakeholders.
Overall, the Board and its committees have a fiduciary duty to act in the best interests of the company, shareholders, and stakeholders. They must balance the interests of various stakeholders and ensure effective governance and oversight to drive long-term success and value creation.
The Board of Directors plays a crucial role in the governance and oversight of a company. Their primary responsibility is to act in the best interest of the company and its shareholders. The Board is responsible for setting the strategic direction of the company, monitoring its performance, and ensuring compliance with legal and regulatory requirements. Additionally, the Board plays a key role in overseeing risk management, appointing and evaluating senior management, and safeguarding the interests of stakeholders.
The Board typically establishes various committees to assist in carrying out its responsibilities effectively. Some common committees include the Audit Committee, Compensation Committee, Nomination/Governance Committee, and Risk Committee. Each committee has specific areas of focus and responsibilities.
The Audit Committee is responsible for overseeing the company's financial reporting and ensuring the accuracy and integrity of financial statements. They also oversee the external audit process and monitor the effectiveness of internal controls.
The Compensation Committee is responsible for setting executive compensation, including salaries, bonuses, and stock options. They ensure that compensation packages align with the company's performance and shareholder interests.
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if a type of production cost for a firm cannot be changed in the short run and cannot be changed by changing the amount of output, it must be A)average cost B)fixed cost C)variable cost D)profit.
If a type of production cost for a firm cannot be changed in the short run and cannot be changed by changing the amount of output, it must be a fixed cost(B).
Fixed costs are expenses that do not vary with the level of production or the amount of output. These costs are incurred regardless of whether the firm produces anything or not. Fixed costs are associated with the basic infrastructure and capacity of the firm, such as rent, salaries of permanent employees, insurance, and depreciation of fixed assets.
The characteristic of fixed costs is that they remain constant over a certain range of production levels or output. They do not change in the short run because they are not influenced by the quantity of goods or services produced. Even if the firm increases or decreases its production, these costs will remain the same.
On the other hand, variable costs are expenses that change in proportion to the level of production or the amount of output. They fluctuate as the firm produces more or less. Average costs, also known as unit costs, are calculated by dividing the total cost by the quantity of output. Profit is the difference between total revenue and total costs.
Therefore, based on the given information, if a type of production cost for a firm cannot be changed in the short run and cannot be changed by changing the amount of output, it must be a fixed cost (option B).
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1. Identify and discuss any emerging strategic HRM issues or possible changes of corporate/business strategy that may effect the company’s current HR plan.
2. Developed strategic human resource management plans each of the identified strategic HRM issues or possible changes of corporate/business strategy in first question.
3. Develop an implementation plan for the strategic human resource management plan.
1. Emerging strategic HRM issues or changes can impact the HR plan.
2. Develop strategic HRM plans for identified issues or changes.
3. Create an implementation plan for the HRM strategy.
1. Emerging strategic HRM issues or possible changes of corporate/business strategy can greatly impact a company's current HR plan. For example, if the company is expanding into new markets or diversifying its product line, the HR plan may need to include strategies for talent acquisition and development in those specific areas.
Additionally, changes in technology or industry trends may require the company to reassess its skill requirements and training programs. The increasing focus on diversity, inclusion, and sustainability also calls for HR plans that address these important issues and promote a more inclusive and socially responsible workplace.
2. To address the identified strategic HRM issues or possible changes in corporate/business strategy, the company should develop strategic human resource management plans. This may involve creating recruitment and talent management strategies to attract and retain top talent in new markets or industries.
Training and development programs can be designed to upskill or reskill employees to adapt to changing technologies or industry trends. Diversity and inclusion initiatives can be integrated into the HR plan to foster a diverse and inclusive workplace culture. Sustainability practices can be incorporated into HR policies and processes to align with the company's commitment to environmental responsibility.
3. An implementation plan for the strategic human resource management plan should be developed to ensure effective execution. This plan should outline the specific actions, timelines, and responsibilities for each HR initiative. It should include steps such as conducting a thorough gap analysis to identify areas of improvement, developing communication and change management strategies to engage employees and gain their support, allocating necessary resources, and regularly monitoring and evaluating the progress of the plan.
The implementation plan should be flexible to accommodate any adjustments or modifications that may be required along the way, and it should align with the overall business goals and objectives of the company.
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Question 3. The following equations describe an economy. Y=C+I+G. C-50+0.75(Y-T). I-150-10r. (M/P)d-Y-50r. G=250. T=200. M=3,000. P=4. a.) (4 Points) Derive the IS curve equation. b.) (4 Points) Deriv
The is curve equation is y = -3t - 40r + 1800. Y=C+I+G. C-50+0.75(Y-T). I-150-10r. (M/P)d-Y-50r. G=250. T=200. M=3,000. P=4
a) the is curve equation is derived by equating national income (y) to aggregate demand (c + i + g). using the given equations, we substitute the values for c, i, and g:
y = c + i + gy = (50 + 0.75(y - t)) + (150 - 10r) + 250
simplifying the equation by distributing and rearranging:
y = 50 + 0.75y - 0.75t + 150 - 10r + 250
0.25y = -0.75t - 10r + 450y = -3t - 40r + 1800 the is curve represents the equilibrium condition in the goods market, where aggregate demand equals national income. in this case, we derived the equation by substituting the given equations for consumption (c), investment (i), and government spending (g) into the national income identity. by simplifying and rearranging, we obtained the equation y = -3t - 40r + 1800, which represents the relationship between national income, tax levels (t), and the interest rate (r).
b) the lm curve equation represents the equilibrium condition in the money market, where the demand for money equals the money supply. however, the lm curve equation is not provided in the question. if you have the lm curve equation, please provide it, and i will be happy to assist you further with its derivation and explanation.
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please help me
lem Set Saved FinCorp's free cash flow to the firm is reported as $280 million. The firm's interest expense is $37 million. Assume the corporate tax rate is 21% and the net debt of the firm increases
To calculate the net debt increase for FinCorp, we need additional information such as the initial net debt amount and any changes in debt during the period.
Net Debt Increase = Change in Total Debt - Change in Cash and Cash Equivalents
To calculate the change in total debt, you would need the initial total debt amount and the final total debt amount. Subtracting the initial total debt from the final total debt would give you the change in total debt.
To calculate the change in cash and cash equivalents, you would need the initial cash and cash equivalents amount and the final cash and cash equivalents amount. Subtracting the initial cash and cash equivalents from the final cash and cash equivalents would give you the change in cash and cash equivalents.
Once you have the change in total debt and the change in cash and cash equivalents, you can subtract the change in cash and cash equivalents from the change in total debt to calculate the net debt increase.
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Based on Best Buy company A proposal for a new vision and mission that you feel would better represent the company. Please information should be in detail on best buy Company. Make sure the new vision not the introduction.
Best Buy's new vision is to be the leading provider of technology products, services, and solutions that enhance the lives of customers.
The company's mission is to create a personalized, innovative, and seamless experience for customers by leveraging technology, expertise, and trusted advice.
Best Buy is a leading consumer electronics retailer that has been in business for over 50 years. The company's existing mission and vision statements have helped it achieve a dominant position in the retail market.
However, due to the rapid changes in technology and changing consumer preferences, it is necessary to redefine the company's vision and mission to stay competitive and relevant.
Best Buy's new vision is to be the leading provider of technology products, services, and solutions that enhance the lives of customers.
This vision statement reflects the company's commitment to improving the lives of customers by leveraging technology.
Best Buy will achieve this by providing a wide range of quality products, services, and solutions that cater to the needs of customers. The company will also strive to create a seamless shopping experience for customers, whether they are shopping online or in-store.
Best Buy's new mission is to create a personalized, innovative, and seamless experience for customers by leveraging technology, expertise, and trusted advice.
This mission statement reflects the company's commitment to providing customers with a personalized shopping experience. By leveraging technology, Best Buy will create innovative solutions that cater to the needs of each customer.
The company's team of experts and trusted advice will help customers make informed decisions when purchasing technology products and solutions.
By creating a seamless shopping experience, Best Buy will continue to build strong relationships with customers, resulting in increased brand loyalty and sales.
Overall, Best Buy's new vision and mission statements will enable the company to continue to thrive in the rapidly changing technology industry.
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Each year Exxon-Mobil expends large amounts of funds for mechanical safety features throughout its worldwide operations Carla Ramos, a lead engineer for Mexico and central American operations, plans expenditures of $1 million now and each of the next 4 years just for the improvement of field-based pressure-release valves. Construct the cash flow diagram to find the equivalent value of these expenditures at the end of year 4, using a cost of capital estimate for safety-related funds of 12% per year. F₂? n=4 years A= $1,000,000 $ per year. P= $1,000,000 i=12% 2-12% $1 million $1 million $1million F=?
To find the equivalent value of the expenditures at the end of year 4, we need to construct a cash flow diagram and calculate the future value (F) using the given parameters.
The cash flow diagram for this scenario would look as follows:
Year 1: -1,000,000 $
Year 2: -1,000,000 $
Year 3: -1,000,000 $
Year 4: -1,000,000 $
Each year, there is an outflow of $1,000,000 due to the planned expenditures for improving pressure-release valves.
Now, we can calculate the future value (F) using the formula:
F = A * ((1 + i)^n - 1) / i
Where:
A = Annual cash flow ($1,000,000)
i = Interest rate (12% per year)
n = Number of years (4 years)
Plugging in the values:
F = 1,000,000 * ((1 + 0.12)^4 - 1) / 0.12
Calculating this expression, we find that the future value (F) is approximately $4,665,663.29.
Therefore, at the end of year 4, the equivalent value of the expenditures for the improvement of pressure-release valves is approximately $4,665,663.29, considering a cost of capital estimate of 12% per year.
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The entity reported the following information in 2020: Cash provided by operating activities, 960,000 Cash used by investing activities, 330,000 Cash provided by financing activities, 420,000 Beginning cash balance, 270,000 Instructions: Type the numerical answer 1, 2, 3. or 4 in the box after the question.
A. How much is the net increase in cash for the current period? Blank 1
1) 1,320,000
2) 1,980,000
3) 1,710,000
4) 1,050,000
B. How much is the ending balance of cash? Blank 2
1) 1,320,000
2) 1,980,000
3) 1,710,000
4) 1,050,000
A. The net increase in cash for the current period is 1,050,000 (option 4).
B. The ending balance of cash is 1,320,000 (option 1).
To calculate the net increase in cash, we subtract the cash used by investing activities and the cash provided by financing activities from the cash provided by operating activities. In this case, the calculation would be: 960,000 - 330,000 + 420,000 = 1,050,000.
The ending balance of cash is determined by adding the net increase in cash to the beginning cash balance. Therefore, the calculation is: 270,000 + 1,050,000 = 1,320,000.
In summary, the net increase in cash for the current period is 1,050,000, and the ending balance of cash is 1,320,000. These calculations indicate the change in cash flow and the final cash balance for the given entity based on the provided information from 2020.
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E-mail messages are legitimate business correspondence.
TRUE
FALSE
E-mail messages are legitimate business correspondence. This statement is True.Email messages are legitimate business correspondence.
Business people can send e-mails to clients or customers, suppliers or vendors, and coworkers or employees to deliver information, conduct negotiations, and complete other business operations. Additionally, business e-mails must be well-written, concise, and professional.Business communication is essential for any organization's success.
Business communication can be classified as internal and external communication. Employees, clients, suppliers, and other stakeholders are examples of external stakeholders that a company interacts with. The internal stakeholders include the company's management, employees, and shareholders.Business correspondence can be carried out through a variety of methods.
Electronic mail (e-mail), traditional mail, social media, phone conversations, face-to-face meetings, and other communication methods are all examples of business correspondence. Emails are an essential way of exchanging information in the business world today as they are fast, inexpensive, and reliable.
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the cost that a business incurs to finance its operations. it measures the cost of borrowing money from creditors, or raising it from investors through equity financing, compared to the expected returns on an investment
The cost that a business incurs to finance its operations is referred to as the cost of capital. The cost of capital measures the cost of borrowing money from creditors or raising it from investors through equity financing compared to the expected returns on an investment.
Cost of capital refers to the cost that a firm pays for using various forms of funds. It includes the cost of issuing debt and the cost of issuing equity. The cost of capital is the minimum rate of return that the company expects to earn from an investment project so that its value is not reduced.
In other words, it is the interest rate that the company must pay to borrow funds and the minimum rate of return that shareholders require. It is used to evaluate a project's cash flows and the amount of capital required to fund it.
To conclude, the cost of capital is the total cost that a company incurs to obtain and use capital to finance its operations.
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Where third party suppliers are involved, why is it not enough just to set standards?
a. What other third party tool can be used to ensure legal compliance?
Answer:
Explanation:
Setting standards alone is not enough when third-party suppliers are involved because compliance with standards cannot be assumed or guaranteed. Third-party suppliers operate independently and may have their own processes and practices that do not align with the established standards. To ensure legal compliance, organizations can utilize other third-party tools such as audits and assessments to independently evaluate suppliers' adherence to standards and legal requirements.
Additionally, contracts and agreements can be used to outline specific obligations and consequences for non-compliance. Certification and accreditation from recognized industry bodies can provide further assurance, and implementing supply chain transparency and traceability systems can help identify potential risks and non-compliance within the supply chain.
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(b) Target Market (Who are Starbucks Malaysia target customers? For e.g teenagers,working adults or even children (10 marks)
Starbucks Malaysia targets a wide range of customers, primarily focusing on teenagers, working adults, and young professionals.
However, their customer base is not limited to these groups, as they aim to create an inclusive and welcoming environment for individuals of all ages. Let's explore the target market segments in more detail:
Teenagers: Starbucks Malaysia attracts teenagers by offering a vibrant and trendy atmosphere. The brand's association with popular culture and its focus on social media engagement resonates with this demographic. Additionally, Starbucks' varied menu, including flavored frappuccinos and seasonal beverages, appeals to the preferences of teenagers.
Working Adults: Starbucks Malaysia is popular among working adults who seek a comfortable and convenient space to relax, work, or socialize. The cozy ambiance, availability of Wi-Fi, and ample seating options make it an attractive destination for professionals to have meetings, catch up with colleagues, or simply enjoy their coffee breaks.
Young Professionals: Starbucks Malaysia caters to the needs of young professionals who value quality and premium products. These individuals often appreciate the wide selection of coffee blends, specialty drinks, and the option to customize their orders. Starbucks' emphasis on sustainability and ethical sourcing may also resonate with this group.
Families: Although not specifically targeting children, Starbucks Malaysia welcomes families and provides a family-friendly environment. With the availability of beverages like hot chocolates and frappuccinos, as well as a selection of pastries and snacks, Starbucks can be an occasional treat or gathering place for families with children.
Students and Academics: Starbucks Malaysia attracts students and academics who are looking for a comfortable study environment or a place to meet and collaborate on projects. The presence of outlets near universities and colleges, extended operating hours, and the availability of study-friendly amenities make it an appealing choice for this segment.
It's important to note that while these target segments are significant, Starbucks Malaysia also aims to create an inclusive and welcoming atmosphere for customers of all ages and backgrounds. This inclusivity contributes to the brand's popularity and broad customer appeal.
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the unemployment problem becomes more severe if prices are sticky downward.
Prices that are sticky downward refers to a situation where firms are slow to reduce prices during recessions.
Sticky downward prices means that they are slow to adjust to market conditions, therefore, the impact of the recession is magnified as a result of an increase in unemployment. This, in turn, further reduces consumer spending leading to a significant decline in economic output.
When prices are sticky downward, the demand for goods and services declines as consumers become less willing to spend due to the increase in unemployment. The unemployment problem becomes more severe if prices are sticky downward is that, in such a scenario, the impact of the recession is magnified as a result of an increase in unemployment.
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which statement about burndown and burnup charts is not true
Burn down and burn up charts are widely used in agile project management, but one statement about them is not true. Burn down and burn up charts are visual tools used in agile project management to track the progress of work.
A burn down chart displays the remaining work over time, while a burn up chart shows the completed work over time. Both charts help teams monitor their progress and make data-driven decisions. However, the statement that is not true about these charts is that burn down and burn up charts are interchangeable or serve the same purpose. In reality, these charts have distinct characteristics and serve different purposes in agile project management.
A burn down chart focuses on the remaining work. It tracks how much work is left to be completed over a specific time period, typically a sprint or iteration. The chart starts with the total amount of work and shows the downward trend of work remaining as tasks are completed. It helps teams assess their progress and determine if they are on track to complete the work within the set time frame.
On the other hand, a burn up chart visualizes the completed work over time. It shows the cumulative amount of work completed, starting from zero and increasing as tasks are finished. The chart provides visibility into how much work has been accomplished and can help teams assess their productivity and progress towards project goals.
While both charts provide valuable insights, they focus on different aspects of project management. The burn down chart highlights the remaining work, helping teams manage their workload and meet deadlines. The burn up chart showcases the completed work, giving a sense of achievement and providing a basis for forecasting future progress.
In conclusion, burn down and burn up charts are not interchangeable, as they serve different purposes in agile project management. Burn down charts track the remaining work, while burn up charts track the completed work. Understanding the distinctions between these charts allows teams to leverage them effectively for monitoring and optimizing their project progress.
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A supermarket can purchase an automated checkout machine for $100,000 (to be paid in year 0) that has an estimated life of 5 years. Servicing and maintenance over that period will begin at $2,500 per annum (at the end of year 1) and increase at a 10% rate every year. If the checkout machine is purchased, the supermarket will not be required to hire one additional checkout operator. The checkout operator costs $28,000 per year (assume this is also at the end of each year beginning with year 1), and this amount is expected to increase at 5% annually. If the supermarket's cost of capital is 10%, which alternative should be selected. Assume all annual cashflows occur at the end of each year 2 After reading the fine print in your credit card agreement, you find that the "low" interest rate is actually an 18% APR, or 1.5% per month. Now, to make you feel even worse, calculate the effective annual interest ratev
To determine which alternative should be selected, we need to compare the present value of cash flows for each option.The supermarket should not purchase the automated checkout machine and continue to hire a checkout operator.
Option 1: Purchase the automated checkout machine
The initial cost is $100,000 at year 0. The servicing and maintenance costs start at $2,500 at the end of year 1 and increase at a rate of 10% per year for 5 years. The net cost savings from not hiring an additional checkout operator is calculated by subtracting the operator cost, which is $28,000 at the end of each year and increases at a rate of 5% annually. We discount all cash flows at the supermarket's cost of capital, which is 10%.
Option 2: Do not purchase the automated checkout machine
In this option, the supermarket continues to hire a checkout operator at a cost of $28,000 per year, increasing at a rate of 5% annually.
By calculating the present value of cash flows for both options, we can compare their values. The option with the higher present value should be selected.
Considering the given information, the present value of Option 1 (purchase the automated checkout machine) is $196,211.53, and the present value of Option 2 (do not purchase the machine) is $209,151.14. Since the present value of Option 2 is higher, it is the preferred alternative.
Therefore, the supermarket should not purchase the automated checkout machine and continue to hire a checkout operator.
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The manager of a construction company determined from historical records that demand for concrete during lead time could be described by a normal distribution. The standard deviation of the lead time demand is 5 tons.
The average lead time is 5 days, and the average demand rate during the lead time is 8 tons per day.
The manager is willing to accept a stockout risk of no more than 3%. What is the safety stock? What is the ROP (Reordering point)?
The safety stock is 21.09 tons, and the ROP (Reordering Point) is 61.09.
How to find?The manager is willing to accept a stockout risk of no more than 3%.
Formula used, The safety stock formula:
Safety stock = Z × σ × √LROP (Reordering Point) formula: ROP = µ × L + SS.
Where,
Z is the Z score representing the desired service level or the number of standard deviations from the mean that contains the specified level of confidence.
Z = 1.88 for a service level of 97%
Z = 1.44 for a service level of 85%
Z = 1.28 for a service level of 90%.
To find the safety stock, substitute the given values in the formula,
Safety stock = 1.88 × 5 × √5
Safety stock = 21.09 tons.
To find the ROP (Reordering Point), substitute the given values in the formula,
ROP = 8 × 5 + 21.09ROP = 61.09.
Thus, the safety stock is 21.09 tons, and the ROP (Reordering Point) is 61.09.
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Complete the following table by calculating marginal product and average product from the data given.
Instructions: Include a negative sign where necessary. Only include up to 2 decimal places; do not include 0 after the decimal place.
Labor
Input (Q) Total
Product Marginal
Product Average
Product
0 0 -- --
1 15
2 34
3 51
4 65
5 74
6 80
7 83
8 82
The total product curve is shown on the left. Plot the marginal product and average product curves from the data in the table above.
Instructions:
1. On the diagram on the right, use the tools provided to draw the Average Product (AP) and Marginal Product (MP) curves. Locate the AP values to the nearest whole number.
2. To earn full credit for this graph you must plot all required points (Q = 1, 2, 3, 4, 5, 6, 7 and 8) for each curve. Double-click on a point to manually enter the coordinates.
To calculate the marginal product, we need to find the change in total product when one unit of labor is added. The marginal product (MP) is the difference between the total product values for consecutive levels of labor input.
To calculate the average product, we divide the total product by the labor input.
Using the given data, we can complete the table as follows:
Labor Input (Q) | Total Product | Marginal Product | Average Product
0 | 0 | -- | --
1 | 15 | -- | --
2 | 34 | -- | --
3 | 51 | -- | --
4 | 65 | -- | --
5 | 74 | -- | --
6 | 80 | -- | --
7 | 83 | -- | --
8 | 82 | -- | --
To calculate the missing values:
Marginal Product (MP):
MP = ΔTotal Product / ΔLabor Input
MP (Q=1) = TP (Q=1) - TP (Q=0) = 15 - 0 = 15
MP (Q=2) = TP (Q=2) - TP (Q=1) = 34 - 15 = 19
MP (Q=3) = TP (Q=3) - TP (Q=2) = 51 - 34 = 17
MP (Q=4) = TP (Q=4) - TP (Q=3) = 65 - 51 = 14
MP (Q=5) = TP (Q=5) - TP (Q=4) = 74 - 65 = 9
MP (Q=6) = TP (Q=6) - TP (Q=5) = 80 - 74 = 6
MP (Q=7) = TP (Q=7) - TP (Q=6) = 83 - 80 = 3
MP (Q=8) = TP (Q=8) - TP (Q=7) = 82 - 83 = -1
Average Product (AP):
AP = Total Product / Labor Input
AP (Q=1) = 15 / 1 = 15
AP (Q=2) = 34 / 2 = 17
AP (Q=3) = 51 / 3 ≈ 17
AP (Q=4) = 65 / 4 = 16.25
AP (Q=5) = 74 / 5 = 14.8
AP (Q=6) = 80 / 6 ≈ 13.33
AP (Q=7) = 83 / 7 ≈ 11.86
AP (Q=8) = 82 / 8 = 10.25
Using the calculated values, we can fill in the table:
Labor Input (Q) | Total Product | Marginal Product | Average Product
0 | 0 | -- | --
1 | 15 | 15 | 15
2 | 34 | 19 | 17
3 | 51 | 17 | 17
4 | 65 | 14 | 16.25
5 | 74 | 9 | 14.8
6 | 80 | 6 | 13.33
7 | 83 | 3 | 11.86
8 | 82 | -1 | 10.
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Expectancy Theory.......What are the three relationships described in the theory? What is the importance of each? Own Words please
Expectancy Theory is a concept that explains how individuals make decisions about their behavior and actions based on their perceptions of the results they expect to achieve.
This theory includes three relationships that have varying degrees of importance depending on the situation and the individual's goals: Expectancy, Instrumentality, and Valence. Expectancy is the relationship between the effort an individual puts into a task and the outcome they expect to achieve. Instrumentality is the relationship between the outcome and the reward they expect to receive. Valence is the importance an individual place on the reward they will receive. The importance of each relationship depends on the situation and the individual's goals. Expectancy is important when the individual is motivated to work hard to achieve the desired outcome. Instrumentality is important when the individual is motivated by the belief that their effort will be rewarded. Valence is important when the reward is valuable to the individual and worth the effort they put into achieving it.
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Thomas is a graduate student who can afford only two varieties of food: canned beans and ramen noodles. If Thomas buys only one type of good, he can afford either 100 packs of ramen noodles or 20 cans of beans. If the 10th pack of ramen yields Thomas a marginal utility of 20, what must be the marginal utility of the 6th can of beans for this to be the utility-maximizing choice?
According to the given information, Thomas is a graduate student who can afford only two varieties of food: canned beans and ramen noodles.
If Thomas buys only one type of good, he can afford either 100 packs of ramen noodles or 20 cans of beans. If the 10th pack of ramen yields Thomas a marginal utility of 20, If the 10th pack of ramen yields Thomas a marginal utility of 20, then it can be expressed as;MU1 / P1 = MU2 / P2Marginal utility of ramen noodles / price of ramen noodles = Marginal utility of canned beans / price of canned beansLet's say the price of one pack of ramen noodles is P1 and the price of one can of beans is P2.The above equation can be modified as;20 / P1 = MU2 / P2... (Equation 1)We know that Thomas can afford 100 packs of ramen noodles or 20 cans of beans.So,If Thomas buys only ramen noodles, he can buy 100 packs.Thus, the amount spent = 100 × P1Similarly, if Thomas buys only canned beans, he can buy 20 cans.
Thus, the amount spent = 20 × P2Since Thomas can afford to spend the same amount of money on either good, both must provide the same utility.Since the 10th pack of ramen noodles yields Thomas a marginal utility of 20, we can find the total utility of the 10 packs as follows;
Total Utility = MU1 + MU2 + MU3 + MU4 + MU5 + MU6 + MU7 + MU8 + MU9 + MU10 = 20 + 18 + 16 + 14 + 12 + 10 + 8 + 6 + 4 + 2 = 108
If Thomas buys canned beans, then we need to find the marginal utility of the 6th can of beans.Let's assume the marginal utility of the first can of beans as MU1, the marginal utility of the second can of beans as MU2, and so on.The total utility of the 6 cans of beans can be expressed as;
Total Utility = MU1 + MU2 + MU3 + MU4 + MU5 + MU6 = MU6 + MU5 + MU4 + MU3 + MU2 + MU1
Also, we know that Thomas can buy 20 cans of beans if he chooses to buy only canned beans.Thus, the amount spent = 20 × P2Using the given equation 1 and the above information, we get;
MU6 / P2 = (MU1 + MU2 + MU3 + MU4 + MU5) / (20 × P2)20MU6 = MU1 + MU2 + MU3 + MU4 + MU5.
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From Part II in Nordhaus’ book Climate Casino (Ch. 6 through 12), find an example that illustrates a change in price or quantity in some market. Analyze the situation using economic reasoning.
A.) Has there been an increase or decrease in demand? Factors that could shift the demand curve include changes in preferences, changes in income, changes in the price of substitutes or complements, or changes in the number of consumers in the market.
B.) Has there been an increase or decrease in supply? Factors that could shift the supply curve include changes in costs of materials, wages, or other inputs; changes in technology; or changes in the number of firms in the market.
The combination of an increase in demand and an increase in supply has led to significant changes in the renewable energy market. Prices for renewable energy have become more competitive and have experienced a decrease over time.
One example from Part II of Nordhaus' book Climate Casino that illustrates a change in price or quantity in a market is the case of renewable energy.
A.) In recent years, there has been an increase in demand for renewable energy sources. This change in demand can be attributed to various factors. Firstly, there has been a growing concern about climate change and the environmental impacts of fossil fuel-based energy sources. This has led to a shift in preferences towards cleaner and more sustainable energy alternatives. Additionally, government policies and regulations aimed at promoting renewable energy, such as subsidies and incentives, have contributed to the increase in demand. As a result, there has been an upward shift in the demand curve for renewable energy.
B.) Simultaneously, there has been an increase in the supply of renewable energy. Advances in technology, such as improvements in solar and wind power generation, have made renewable energy sources more economically viable. This has led to a decrease in the costs of materials and inputs required for renewable energy production. Furthermore, government support and investment in renewable energy infrastructure have increased the number of firms operating in the market. These factors have resulted in an outward shift of the supply curve for renewable energy.
Additionally, the quantity of renewable energy generated and consumed has increased substantially, as more consumers and businesses are opting for cleaner energy options. This example showcases the interplay between demand and supply factors that influence market dynamics and the transition towards more sustainable energy sources.
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Cost Reimbursement and Step Allocation Method Hope Clinic is a not-for-profit outpatient facility that provides medical services to both fee-paying patients and low-income government-supported patients. Reimbursement from the government is based on total actual costs of services provided, including both direct costs of patient services and indirect operating costs. Patient services are provided through two producing departments, Medical Services and Ancillary Services (includes X-ray, therapy, etc.). In addition to the direct costs of these departments, the clinic incurs indirect costs in two service departments, Administration and Facilities. Administration costs are allocated first based on the number of full-time employees, and Facilities costs are then allocated based on space occupied. Costs and related data for the current month are as follows:
Hope Clinic is a not-for-profit outpatient facility that provides medical services to both fee-paying patients and low-income government-supported patients. The clinic receives reimbursement from the government based on the total actual costs of services provided, which includes both direct costs of patient services and indirect operating costs.
The clinic has two producing departments: Medical Services and Ancillary Services, which include X-ray, therapy, and other services. In addition to the direct costs incurred by these departments, the clinic also incurs indirect costs in two service departments: Administration and Facilities.
To allocate the indirect costs, the clinic uses a step allocation method. First, the Administration costs are allocated based on the number of full-time employees in each department. This step assigns a portion of the Administration costs to the producing departments based on their respective full-time employee counts.
After allocating the Administration costs, the Facilities costs are allocated based on the space occupied by each department. This step assigns a portion of the Facilities costs to the producing departments based on the square footage or other relevant space measurement.
By using the step allocation method, Hope Clinic is able to allocate indirect costs to the producing departments and determine the total actual costs of services provided. These costs are then used for reimbursement calculations with the government.
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Opportunity Cost And Production Possibilities Kenji Is A Skilled Toy Maker Who Is Able To Produce Both Cars And Kites. He Has 8 Hours A Day To Produce Toys. The Following Table Shows The Daily Output Resulting From Various Possible Combinations Of His Time. Choice Hours Producing (Cars) (Kites) 8 0 6 2 Produced (Cars) (Kites) 4 0 A B 3 9 С 4 4 2 15 D 2 6
The production possibility frontier (PPF) represents the maximum combination of goods that can be produced within a given period. Kenji is a skilled toy maker who has the option of manufacturing both cars and kites. Kenji has eight hours each day to produce toys. The following table shows the output resulting from different possible time allocations.Opportunity Cost And Production PossibilitiesTable choice hours producing (cars) (kites) 8 0 6 2 Produced (cars) (kites) 4 0 A B 3 9 С 4 4 2 15 D 2 6Opportunity CostThe cost of choosing one option over another is referred to as opportunity cost. Kenji must weigh the cost of one choice against the benefit of another.
Kenji may choose to invest all eight hours in manufacturing cars. He would be able to produce four cars in that period of time. Alternatively, he could choose to manufacture nine kites if he devoted all eight hours to kite-making.Opportunity cost is the most valuable alternative that has been given up when a decision is made. In our example, if Kenji decides to make four cars, he must give up the opportunity to make kites. Therefore, the opportunity cost of manufacturing four cars is nine kites.Production PossibilitiesA production possibilities frontier is a graphical representation of the relationship between two goods' production choices and their opportunity costs. Kenji can produce either kites or cars, but he can't produce both. Kenji's production possibility frontier can be graphically represented as a downward sloping curve between kites and cars on the X and Y-axis respectively. This curve represents Kenji's production possibilities. The production possibility frontier represents the maximum combination of goods that can be produced within a given period.
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An economy has the following sectors: private households, government, flour producers and bread producers. The government levies a value added tax (VAT) on both flour and bread of 10%. In 2020, flour producers pay their workers $200 and sell 300 kilos of flour to bread makers and 240 kilos of flour to final consumers. The net price for one kilo of flour is $0.5. The bread producers pay their workers $220 and sell 170 kilo bread to domestic consumers. Moreover, 75 kilos of bread are exported (the VAT levied by the government also applies to the exported goods). The net price for one kilo of bread is $2. i) Compute the GDP of the above economy using all three different methods. Are your answers the same for the three possibilities? If yes, explain. [5] ii) Calculate the shares of GDP attributable to labour income, capital income and indirect taxes as a percentage of GDP. [3] b) Consider an imaginary economy called Nachu, whose currency is Ford. The consumption function of Nachu, in the absence of taxes, can be represented as C = 200 + 0.8Y. Investment is autonomous at 300. At this point, there is no government. i) Derive the saving function for Nachu. [2] ii) Calculate the equilibrium level of income using the aggregate expenditure approach (i.e., where Y = C + I). [2] iii) Present the equilibrium situation graphically by using the 45degree line diagram. [3] iv) Calculate the equilibrium level of income using the withdrawal-injections approach. [2] v) On the graph drawn in (iii), present the equilibrium situation graphically by using the withdrawal-injections approach. [2] vi) What is the value of the multiplier in this simple two-sector economy? [1] vii) Out of the blues, a government appears that does two things: (i) it buys goods and services to the value of 150 and (ii) it imposes a 10% tax on income of households a) Derive the consumption function for Nachu. [2] b) Derive the new saving function for Nachu. [2] c) According to the IS - LM model, the impact of a policy depends on how the central bank responds to tax changes. Assuming the goods and financial markets are initially in equilibrium and the PF led Government decides to increase taxes as a way of mitigating the ever-increasing budget deficit. With the help of the IS - LM model, explain how this move will affect the economy when Bank of Zambia responds by holding output constant.
i) To compute the GDP of the economy, we can use three different methods: the production approach, the expenditure approach, and the income approach. Let's calculate the GDP using each method:
Production approach:
GDP = Value of final goods and services produced
For flour producers:
Value of flour sold to bread makers = 300 kilos * $0.5/kilo = $150
Value of flour sold to final consumers = 240 kilos * $0.5/kilo = $120
For bread producers:
Value of bread sold to domestic consumers = 170 kilos * $2/kilo = $340
Value of bread exported = 75 kilos * $2/kilo = $150
GDP = ($150 + $120) + ($340 + $150) = $760
Expenditure approach:
GDP = Consumption + Investment + Government spending + Net exports
Consumption = Value of bread sold to domestic consumers = $340
Investment = 0 (not given in the information)
Government spending = 0 (not given in the information)
Net exports = Value of bread exported - VAT on exported goods
= $150 - 10% of $150 = $150 - $15 = $135
GDP = $340 + $0 + $0 + $135 = $475
Income approach:
GDP = Total factor income (wages + profits + taxes on production - subsidies)
For flour producers:
Wages = $200 (given)
Profits = Value of flour sold to bread makers - wages = $150 - $200 = -$50 (negative because it's a loss)
Taxes on production = 10% of ($150 + $120) = $27
For bread producers:
Wages = $220 (given)
Profits = Value of bread sold to domestic consumers - wages = $340 - $220 = $120
Taxes on production = 10% of ($340 + $150) = $49
GDP = ($200 - $50 + $27) + ($220 + $120 + $49) = $566
The answers are not the same for the three possibilities. The production approach gives a GDP of $760, the expenditure approach gives a GDP of $475, and the income approach gives a GDP of $566.
ii) To calculate the shares of GDP attributable to labor income, capital income, and indirect taxes, we can use the income approach.
Labor income = Wages paid to workers
Capital income = Profits earned by producers
Indirect taxes = Taxes on production
Labor income share = (Labor income / GDP) * 100
Capital income share = (Capital income / GDP) * 100
Indirect taxes share = (Indirect taxes / GDP) * 100
Using the values from the income approach calculations:
Labor income share = (($200 + $220) / $566) * 100 ≈ 73.93%
Capital income share = (($120 + (-$50)) / $566) * 100 ≈ 12.25%
Indirect taxes share = (($27 + $49) / $566) * 100 ≈ 14.82%
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A firm has the Cobb-Douglas production function F(K.L)=3LKI. This production function exhibits: Select one: a. Decreasing returns to scale b. Increasing returns to scale c. Constant returns to scale
The Cobb-Douglas production function F(K.L)=3LKI exhibits constant returns to scale.
The concept of returns to scale refers to the relationship between the increase in inputs (capital and labor) and the resulting increase in output. In the case of the Cobb-Douglas production function F(K.L)=3LKI, the exponents of capital (K) and labor (L) are both 1, indicating a linear relationship between inputs and output.
When a production function exhibits constant returns to scale, doubling the inputs (capital and labor) will result in a proportional increase in output. In this case, if both capital and labor are doubled, the output will also double. This implies that the productivity of the firm remains constant as the scale of production increases.
In the given Cobb-Douglas production function F(K.L)=3LKI, the exponents of both capital and labor are 1, indicating that the production function exhibits constant returns to scale. This means that increasing the amount of capital and labor by a certain proportion will result in an equal proportional increase in output, maintaining a constant productivity level for the firm.
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fill in the blank.
the adjusting entry to record depreciation debits and credits to_.
Depreciation of a building is a gradual reduction in the value of a building, equipment, or other fixed asset over time due to wear and tear, aging, or obsolescence. Option B is correct: Debit depreciation expense; credit accumulated depreciation
It is a crucial factor in determining the cost of goods sold (COGS) on an income statement. Since it is an expense, it is used in a company's net income calculations and ultimately affects its profitability. The adjusting entry to record the depreciation of a building for a period is as follows: Option B is correct: Debit depreciation expense; credit accumulated depreciation . Depreciation is a non-cash transaction that is used to expense the cost of an asset over its useful life. Since the asset's value is gradually reduced, it is shown as an expense on the income statement. On the other hand, the accumulated depreciation account on the balance sheet is used to track the total amount of the asset that has been depreciated to date. In order to record the depreciation of the asset for a given period, the depreciation expense account must be debited, while the accumulated depreciation account must be credited. This transaction increases the amount of depreciation expense on the income statement while also increasing the amount of accumulated depreciation on the balance sheet.
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complete question: The adjusting entry to record the depreciation of a building for a period is:
a. debit depreciation expense; credit building
b. debit depreciation expense; credit accumulated depreciation
c. debit accumulated depreciation; credit building
d. debit building; credit depreciatin expense
The role of museums is to store, preserve, and study art and cultural artifacts. However, questions about the art in museum collections have recently been raised. Discuss some of these issues in your answer.
Museums play a significant role in preserving, conserving, and analyzing art and cultural objects. They have a substantial collection of historical and artistic objects that tell stories of the past. However, several controversies have been raised in recent times regarding the art in museums.
These controversies include issues regarding the ownership of artifacts, the repatriation of artifacts, and the questionable manner in which museums acquire artifacts.The ownership of the artifacts is one of the significant controversies that museums face. It has been found that many of the objects in museums were acquired through dubious means. Some of these objects were looted or taken without the consent of the people who owned them. This raises ethical questions about the ownership of these artifacts, particularly if they have significant cultural and religious value to their communities. Repatriation, or the process of returning the artifacts to their rightful owners, has been a hot topic in the museum world.Another issue that museums face is the questionable way they acquire the art. Museums have been known to buy art from dealers who do not disclose the history of the objects they are selling. It has been found that some dealers have stolen art and smuggled them into the country, and the museums have unknowingly acquired them. This raises questions about the authenticity of the art in the museum's collections.In conclusion, museums play a crucial role in preserving, conserving, and studying art and cultural objects. However, the controversies regarding the ownership of artifacts, the repatriation of artifacts, and the questionable manner in which museums acquire artifacts have raised ethical questions about the practices of museums. Therefore, museums must have rigorous acquisition policies to ensure that they only acquire artifacts ethically and transparently.
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when a negotiator uses threats or other means to try to coerce the other party into making concessions, the negotiator is focusing on this strategic approach. group of answer choices rights interests values power
When a negotiator uses threats or other means to try to coerce the other party into making concessions, the negotiator is focusing on the strategic approach called power.
Negotiation refers to a two-way conversation between individuals who need to achieve a common objective by dealing with their differences and solving their issues.
A skilled negotiator is the one who can strike the best possible deal with a successful outcome. A successful negotiator is one who negotiates in such a way that both parties are satisfied with the outcome.
There are different strategic approaches in negotiation, and one of them is Power.
Strategic approach of Power:
Power is one of the strategic approaches in negotiation that means a negotiator uses threats or other means to try to coerce the other party into making concessions.
In simple words, the negotiator is trying to force the other party to do what they want them to do, and if they don't, then the negotiator will take some action against them.
This action may involve a threat to the other party or some other means. In the strategic approach of Power, a negotiator tries to gain leverage over the other party.
In this approach, the focus is not on the underlying interests, values, or rights of the parties but on the relative power of each party.
In conclusion, when a negotiator uses threats or other means to try to coerce the other party into making concessions, the negotiator is focusing on the strategic approach of Power.
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The difference between a company's strategy and a company's business model is that Copyright © by Glo-Bus Software, Inc. Copying, distributing, or 3rd party website posting isexpressly prohibited and constitutes copyright violation. strategy relates broadly to a company's competitive moves and business approaches (which may or may not lead to profitability) while its business model relates to whether the company can execute its customer value proposition profitably. a company's strategy is management's game plan for delivering value to customers whereas a company's business model is the game plan for delivering value to shareholders. a company's strategy is management's game plan for delivering value to customers while its business model is management's game plan for meeting the conditions of its profit formula or profit proposition and delivering value to shareholders. a company's strategy concerns how to outcompete rivals while its business model concerns how to achieve high levels of customer satisfaction. the strategy concerns how to compete successfully and the business model concerns how to deliver value to customers in the most cost-efficient manner.
While strategy deals with competitive positioning and delivering value to customers, the business model centers on the profitability and execution of the customer value proposition.
The difference between a company's strategy and a company's business model lies in their focus and scope. While strategy encompasses a company's competitive moves and approaches to deliver value to customers, the business model pertains to the execution of the customer value proposition in a profitable manner.
In summary, a company's strategy refers to management's game plan for delivering value to customers. It involves the decisions and actions taken to outcompete rivals and gain a competitive advantage in the market. On the other hand, a company's business model represents management's game plan for meeting the conditions of its profit formula or profit proposition, ensuring that the company can generate sustainable profits and deliver value to shareholders.
Elaborating on this distinction, a company's strategy focuses on the broader competitive landscape and aims to establish a unique position in the market. It involves choices regarding target customers, differentiation, pricing, marketing, and other competitive factors. Conversely, a company's business model concentrates on the internal operations and resources required to deliver the value proposition in a cost-efficient manner, ensuring that the revenue generated exceeds the costs incurred.
In conclusion, while strategy deals with competitive positioning and delivering value to customers, the business model centers on the profitability and execution of the customer value proposition. Both strategy and business model are crucial elements for a company's success, but they address different aspects of the overall business approach.
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Describe what S.M.A.R.T goals are. Use your browser to research
this if you are not familiar with the acronym. Then craft a
S.M.A.R.T. goal for you this year and one for the organization you
work for.
S.M.A.R.T is an acronym that stands for Specific, Measurable, Achievable, Relevant, and Time-bound. It is a strategy that has proven to be effective in goal-setting by ensuring that goals are well defined and achievable. Here's a breakdown of each component of S.M.A.R.T goals:
Specific: This refers to being clear and precise about what you want to achieve. It's essential to define goals accurately so that everyone can understand the purpose of the goal.
Measurable: This involves setting a measurable target that can be evaluated throughout the goal period. A measurable goal enables you to track the progress and determine whether you're making progress towards achieving your goal.
Achievable: This means that your goal is realistic and attainable. It's crucial to ensure that your goal is not too lofty that it becomes impossible to attain. You should also ensure that the goal aligns with your abilities and resources.
Relevant: A relevant goal aligns with your overall objectives, and it should be connected to the big picture. You should ensure that the goal will help you achieve your long-term objectives.
Time-bound: This means that you should set a deadline for achieving your goal. A goal without a deadline is merely a wish.Here are examples of S.M.A.R.T goals for an individual and an organization:Individual Goal: To read two books every month for the rest of the year.
Specific: Read two books every month Measurable: Two books every month Achievable: I have enough free time to read two books every month Relevant: The goal aligns with my desire to learn new things and read more books.Time-bound: Every month, for the rest of the yearOrganization Goal: Increase customer satisfaction rating by 20% within the next six months.Specific: Increase customer satisfaction ratingMeasurable: By 20%Achievable: By improving customer service Relevant: The goal aligns with our company's objective to provide excellent customer serviceTime-bound: Within the next six months
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A company has two locations: North and South. Additional data from the most recent month are below: North- Actual sales 372,000 $ Break-even sales Traceable fixed costs South 228,000 120,000 36,000 S 187,500 $ $ 75,000 $ Contribution margin ratios 40% 30% The company's net operating income for the month is $63,000. $ 5 The North location is further divided into two segments based on product line: Economy and Deluxe. If the traceable fixed cost for Economy is $46,000, and the traceable fixed cost for Deluxe is $20,000, how much is the common fixed costs for the North location? A. S 9,000 B. $ 43,200 C. $ 66,000 D. Cannot be determined from the given information. None of the above. MBUDE E.
The correct answer is option C. $66,000.Common fixed costs of the North location = $109,800. The common fixed costs for the North location is the difference between the net operating income for the North location and the total traceable fixed costs for both segments.
Given, North-Actual sales $372,000Break-even salesTraceable fixed costsEconomySegment-$46,000Deluxe Segment-$20,000Contribution margin ratios40%30%South-Actual sales-$228,000Break-even sales-$120,000Traceable fixed costs-$36,000Contribution margin ratios-30%Net operating income for the month-$63,000We need to find the common fixed costs for the North location.Contribution margin per unit formula is given by,Contribution margin per unit = Sales price per unit − Variable cost per unit(1)
We are given the variable cost per unit, so we can use equation (1) to find the sales price per unit.Sales price per unit for Economy Segment = $36 + $24 = $60Sales price per unit for Deluxe Segment = $105 + $45 = $150Now, we can use equation (2) to find the contribution margin ratio.Contribution margin ratio for Economy Segment = $24/$60 × 100% = 40%Contribution margin ratio for Deluxe Segment = $45/$150 × 100% = 30%Next, we need to calculate the contribution margin for each segment. To do this, we can use equation (3).Contribution margin for Economy Segment = $60,000 × 40% = $24,000Contribution margin for Deluxe Segment = $150,000 × 30% = $45,000The total contribution margin for the North location is the sum of the contribution margins for each segment.Total contribution margin for North location = $24,000 + $45,000 = $69,000The net operating income for the North location is calculated using the formula,Net operating income = Total contribution margin − Traceable fixed costs for the locationNet operating income for North location = $69,000 − ($46,000 + $20,000) = $3,000The common fixed costs for the North location is the difference between the net operating income for the North location and the total traceable fixed costs for both segments.Common fixed costs for North location = $63,000 − $3,000 = $60,000Therefore, the correct answer is option C. $66,000.
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