All the factors that influence the amount of goods and services the correct answer is: institutional failures and events such as wars and natural disasters.
While tariffs and trade barriers can certainly impact international trade, they are specific policies and measures implemented by governments to restrict or regulate trade. Transportation costs, on the other hand, refer to the expenses incurred in transporting goods across borders. However, the factors that influence the overall amount of goods and services shipped across international borders encompass a broader range of elements, including institutional failures (such as political instability or corruption) and external events like wars and natural disasters. These factors can significantly disrupt trade flows and have a substantial impact on international trade volumes.
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What are key audit matters? How do these affect the
format of the audit report? (Australian Standards)
Key audit matters (KAMs) are significant matters identified by the auditor during the audit of financial statements that require the most attention and have the greatest impact on the audit report.
In Australia, the inclusion of KAMs in the audit report enhances transparency and provides users of financial statements with valuable insights into the audit process.
Key audit matters (KAMs) are specific matters that the auditor considers to be of most significance in the audit of financial statements. These matters are selected based on their nature, complexity, and the level of judgment or estimation involved. KAMs arise from areas of the financial statements that carry a higher risk of material misstatement or involve significant management judgment.
In Australia, the inclusion of KAMs in the audit report is required under the auditing standards issued by the Australian Auditing and Assurance Standards Board (AUASB). The purpose of including KAMs is to enhance the communication of audit findings and provide users of financial statements with a deeper understanding of the audit process.
The format of the audit report is affected by the inclusion of KAMs. The audit report must contain a separate section specifically addressing the KAMs identified during the audit. This section provides a detailed description of each KAM, including the auditor's assessment of the matter, the audit procedures performed, and the auditor's response to the matter. This information gives stakeholders a clearer understanding of the areas of greatest audit focus and the auditor's observations and conclusions.
By incorporating KAMs into the audit report, the Australian auditing standards aim to increase the transparency and usefulness of the audit report, providing greater insight into the audit process and enhancing the overall quality of financial reporting.
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Many corporations around the world have adopted enterprise resource planning (ERP) software. Of the following, which is NOT a true statement? Question content area bottom
A. ERP may not fit every company. B. ERP's demanding nature often forces companies to change the way they do business. C. ERP unites all of a company's major business activities, D. Can fail if insufficient tailoring of the software to fit the company. E. Provides instant access to critical information to topmanagement,
E. Provides instant access to critical information to top management.
Option E is not a true statement. While ERP systems do provide access to critical information, including real-time data, it is not limited to top management alone. ERP software enables information sharing and accessibility across various levels and departments within an organization, allowing employees at different levels to access and utilize relevant data for their respective roles. ERP systems aim to integrate and streamline business processes across an entire organization, facilitating collaboration and decision-making at all levels, not just limited to top management.
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What option does your organisation (that needs a change) have, to make changes. Consider options for an organisation that needs to make changes.
Organizations have several options to facilitate change, including strategic planning, change management, organizational restructuring, technology implementation, collaboration, and continuous improvement. Each option should be carefully considered based on specific needs and goals.
When an organization needs to make changes, there are several options available to facilitate the process. Some of the key options include:
1. Strategic Planning: Conducting a comprehensive strategic planning process allows the organization to assess its current state, identify areas that require change, and develop a roadmap for achieving the desired future state. This involves setting clear objectives, determining the necessary actions, allocating resources, and establishing timelines.
2. Change Management: Implementing change management methodologies and practices can help the organization navigate the transition smoothly. This involves assessing the impact of the changes, creating a change management plan, communicating effectively with stakeholders, providing training and support to employees, and monitoring the progress to ensure successful adoption of the changes.
3. Organizational Restructuring: In some cases, the organization may need to restructure its internal operations to facilitate the desired changes. This could involve revising reporting structures, realigning departments or teams, redesigning processes, and redefining roles and responsibilities to better support the change initiatives.
4. Technology Implementation: Introducing new technologies or upgrading existing systems can be a catalyst for change within the organization. Automation, digitalization, and the implementation of advanced tools and systems can streamline processes, improve efficiency, and enable the organization to adapt to new market trends or customer demands.
5. Collaboration and Partnerships: Seeking external collaborations or partnerships can provide access to new expertise, resources, and opportunities. Collaborating with other organizations, industry experts, or consultants can bring fresh perspectives, innovative ideas, and best practices to support the change efforts.
6. Continuous Improvement: Establishing a culture of continuous improvement enables the organization to consistently identify areas for enhancement and make incremental changes over time. This involves promoting a mindset of learning, encouraging feedback and innovation, and regularly evaluating and adjusting processes, products, and services.
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On 01 November 2018, Sarah Wrangler sold the primary residence that she and Joe had lived in for the amount of R3 750 000. Sarah was the sole owner of the property and had purchased it on 01 October 2009 for the amount of R1 900 000, Sarah improved the property at a cost of R300 000 His employer had sent Joe overseas and Sarah and the children went with him. They were overseas from 1 December 2013 to 1 January 2018. Sarah had remained in the house (after their return and Joe's subsequence death) until date of sale. Whist Joe, Sarah and the children were overseas, they remained mainly resident in South Africa for tax purposes. They did during their absence; contemplate emigrating to the overseas country. In this regard, they put the house on the market for 8 months, starting 01 April 2017. Eventually they decided that they would ultimately like to return to South Africa and took the house off the market (i.e. did not sell) Throughout their time overseas, the house was rented out. No deductions were claimed against the rental income. Required: Calculate and discuss the capital gain effects (after any specific exclusions) for Sarah on the sale of the house. Assume that current tax rates apply for the foreseeable future.
To calculate the capital gain effects for Sarah on the sale of the house, we need to consider the following steps:
1. Determine the base cost: Sarah purchased the property on 01 October 2009 for R1,900,000. Since she also improved the property at a cost of R300,000, the base cost would be R2,200,000 (R1,900,000 + R300,000).
2. Calculate the capital gain: The capital gain is the difference between the selling price and the base cost. The selling price is R3,750,000. Therefore, the capital gain is R3,750,000 - R2,200,000 = R1,550,000.
3. Determine the exclusions: In South Africa, there is a primary residence exclusion. If the property meets certain criteria, a portion of the capital gain may be excluded. However, since the property was rented out during their time overseas, it may not qualify for the exclusion.
It's important to note that you should consult with a tax professional or accountant for specific advice regarding your situation, as tax laws and rates may change over time.
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According to the text, what are the main aspects of the "Civil Society" in the United States, and why is maintaining this civil society important given the growing distrust of political institutions?
The main aspects of the "Civil Society" in the United States are private groups, institutions and organizations that are independent from the state and can function as a mediator between the government and citizens. It is important to maintain civil society because it allows people to come together to work towards common goals, promotes democratic values, and encourages political engagement.
Civil society refers to private groups, institutions, and organizations that are independent from the state and that operate in the public sphere. These groups are not directly affiliated with the government, but they often act as a mediator between the government and citizens. Examples of civil society organizations in the United States include labor unions, religious organizations, charities, and social clubs.There are a number of reasons why maintaining civil society is important given the growing distrust of political institutions. First, civil society allows people to come together to work towards common goals. By working together in groups, individuals can be more effective at achieving their aims than they would be if they acted alone.Second, civil society promotes democratic values such as transparency, accountability, and participation. When citizens are involved in civil society organizations, they are more likely to feel invested in their communities and to be aware of the issues that affect them.Third, civil society encourages political engagement. When citizens are involved in civil society organizations, they are more likely to vote, contact their elected representatives, and participate in public debate. This can help to strengthen democracy and hold political institutions accountable.Finally, maintaining civil society is important because it can help to build trust between citizens and political institutions. When people feel that their voices are being heard and that they can work towards common goals, they are more likely to have faith in the political system as a whole.
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The government has proposed a new policy to regulate hazardous waste dump. Historically, the
average cost of such dumps is $10 million, so the proposed plan will charge $10 million to any
company that dumps hazardous waste, no matter the amount dumped. Will this policy
incentivize companies to not dump hazardous waste, or at least to dump less? Why or why not?
Use your toolkit to answer. (1 paragraph max)
Companies may be motivated to reduce their hazardous waste production or find alternative disposal methods to avoid the high cost.
The proposed policy to charge $10 million to any company that dumps hazardous waste, regardless of the amount dumped, may incentivize companies to not dump hazardous waste or at least to dump less.
This is because the fixed cost of $10 million can create a financial burden for companies. If a company dumps a small amount of hazardous waste, it would still have to pay the same $10 million fee as a company that dumps a large amount.
Additionally, the policy signals that the government is taking hazardous waste management seriously, which may further discourage companies from engaging in irresponsible dumping practices.
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Last month when Holiday Creations, Inc., sold 44,000 units, total sales were $176,000, total variable expenses were $133760, and fixed expenses were $37,000. Required: 1. What is the company's contribution margin (CM) ratio? 2. What is the estimated change in the company's net operating income if it can increase sales volume by 575 units and total sales by $2,300? (Do not round Intermediate calculations.) 1. Contribution margin ratio 2. Estimated change in net operating income
The company's contribution margin ratio is approximately 24% and the estimated change in the company's net operating income, if it can increase sales volume by 575 units and total sales by $2,300, would be a decrease of $36,448.
1. Contribution Margin (CM) Ratio:
The contribution margin ratio is calculated by dividing the contribution margin by total sales.
Contribution Margin = Total Sales - Total Variable Expenses
Contribution Margin = $176,000 - $133,760
Contribution Margin = $42,240
Contribution Margin Ratio = (Contribution Margin / Total Sales) * 100
Contribution Margin Ratio = ($42,240 / $176,000) * 100
Contribution Margin Ratio ≈ 24%
Therefore, the company's contribution margin ratio is approximately 24%.
2.Estimated Change in Net Operating Income:
To estimate the change in net operating income, we need to determine the increase in sales volume and total sales, and then calculate the corresponding change in contribution margin and net operating income.
Increase in Sales Volume = 575 units
Increase in Total Sales = $2,300
Change in Contribution Margin = Contribution Margin Ratio * Increase in Total Sales
Change in Contribution Margin = 24% * $2,300
Change in Contribution Margin = $552
Change in Net Operating Income = Change in Contribution Margin - Increase in Fixed Expenses
Change in Net Operating Income = $552 - $37,000
Change in Net Operating Income = -$36,448
Therefore, the estimated change in the company's net operating income, if it can increase sales volume by 575 units and total sales by $2,300, would be a decrease of approximately $36,448.
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unit 6 - individual assignment continuing with the suburban homes construction project case study found at the end of chapter 6 (and reviewing previous chapters 1 through 5), cpm 4e, complete the following individual assignment: (20 points) stakeholder identification and prioritization matrix (exhibit 6-2) (20 points) stakeholder matrix (exhibit 6-4) (20 points) stakeholder engagement matrix (exhibit 6-5) (20 points) communication matrix (exhibit 6-9) (20 points) mechanics you will be assessed on content and mechanics.
The individual assignment for Unit 6 of the suburban homes construction project case study involves completing four different matrices: stakeholder identification and prioritization matrix, stakeholder matrix, stakeholder engagement matrix, and communication matrix. These matrices help in identifying, prioritizing, engaging, and communicating with stakeholders effectively.
How do you create a stakeholder identification and prioritization matrix? What is a stakeholder matrix and how is it created?How can you develop a stakeholder engagement matrix?What is a communication matrix and how is it useful?1. Stakeholder Identification and Prioritization Matrix:
To create a stakeholder identification and prioritization matrix, you need to first identify all the stakeholders involved in the project. Then, evaluate their level of influence and interest in the project. Finally, prioritize the stakeholders based on their importance and impact on the project. This matrix helps in understanding the key stakeholders and their roles in the project.
2. Stakeholder Matrix:
A stakeholder matrix is a tool used to map stakeholders based on their level of influence and interest. It helps in determining how stakeholders should be managed and engaged throughout the project. The matrix is created by plotting stakeholders on a grid, with influence on the x-axis and interest on the y-axis. This allows for a visual representation of stakeholder relationships and aids in decision-making and communication strategies.
3. Stakeholder Engagement Matrix:
A stakeholder engagement matrix is developed by assessing the current and desired level of engagement for each stakeholder. It helps in planning and implementing strategies to involve stakeholders effectively throughout the project lifecycle. The matrix categorizes stakeholders based on their level of engagement, such as inform, consult, involve, or collaborate. This matrix ensures that appropriate engagement approaches are used for different stakeholder groups.
4. Communication Matrix:
A communication matrix is a tool that outlines the communication requirements for each stakeholder or stakeholder group. It identifies the information needs, communication methods, frequency, and responsible parties for effective communication. The matrix ensures that the right information reaches the right stakeholders at the right time, facilitating efficient and transparent communication throughout the project.
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An investor holds the stock of Last-But-Not-Least Financials and expects to receive a dividend of $4.75 per share at the end of the year. Stock analysts recently predicted that the bank's dividends will grow at approximately 3 percent a year indefinitely into the future. If this is true, and if the appropriate risk-adjusted cost of capital (discount rate) for the bank is 14 percent, what should be the current price per share of Last-But-Not-Least Financials' stock?
The current price per share of Last-But-Not-Least Financials' stock should be approximately $43.18.
To calculate the current price per share of Last-But-Not-Least Financials' stock, we can use the Gordon Growth Model. According to the model, the stock price is equal to the expected dividend divided by the difference between the discount rate and the dividend growth rate.
First, let's calculate the dividend growth rate: 3% of $4.75 equals $0.1425.
Next, we subtract the dividend growth rate from the discount rate: 14% - 3% equals 11%.
Now, we can calculate the current price per share: $4.75 / 0.11 = $43.18.
Therefore, the current price per share of Last-But-Not-Least Financials' stock should be approximately $43.18.
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from foday? The interest rate is 1/2% per month. (Hint. There are 60 monthly withdrawals and they begin at the and of the month 72 .) The lump sum of maney should be 1 (Round to the nearest gollar.)
Approximately $22,960 needs to be deposited into the bank account at the prevailing time to ensure that $550 according to month can be withdrawn for 4 years, with the primary withdrawal scheduled for 5 years from nowadays.
To calculate the lump sum of money required, we will use the present price formula for an everyday annuity:
[tex]S = PMT * [(1 - (1 + r)^(-n)) / r][/tex]
Where:
S = Lump sum to be deposited
PMT = Monthly withdrawal quantity
r = Interest rate consistent with the length
n = Number of periods
In this case, the month-to-month withdrawal amount is $550, the interest price is 0.5% (0.0.5) in step with the month, and the variety of periods is 48(4 years x 365 days). Plugging these values into the components:
[tex]S = 550 * [(1 - (1 + 0.005)^(-48)) / 0.005][/tex]
Using an economic calculator or spreadsheet, the approximate value of S is $22,960. Note that rounding to the closest greenback can also yield a slightly exceptional result.
Therefore, about $22,960 must be deposited into the financial institution account at the present time to make sure that $550 in line with the month may be withdrawn for 4 years, with the first withdrawal scheduled for 5 years from today.
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The correct question is:
"What lump sum of money must be deposited into a bank account at the present time so that $550 per month can be withdrawn for four years, with the first withdrawal scheduled for five years from today? The interest rate is 1/2% per month. (Hint: Monthly withdrawals begin at the end of the month 60) Click the icon to view the interest and annuity table for discrete compounding when 1/2% per month. The lump sum of money should be S (Round to the nearest dollar.)"
In a short paragraph, define labor union. Explain at least one tactic that labor unions use to get their demands met? Do you think this is an effective tactic that is used against producers/management in order to have worker demands met? Explain.
A labor union is a body that represents employees in their dealings with management.
A labor union, also known as a trade union, is an organization of workers that was formed to advance their collective interests in pay, hours, and working conditions. A labor union can either be national or international, depending on the country in which it is located. A labor union negotiates on behalf of workers with their employers in the hope of securing better pay and working conditions.
One of the most effective tactics that labor unions use to get their demands met is the strike. A strike occurs when union workers refuse to work as a way of protesting against management's treatment of them. A strike is typically held as a last resort when all other attempts to negotiate have failed. Strikes can be effective in getting worker demands met because they put pressure on management to come to an agreement that is favorable to the workers.
While strikes can be effective, they are not always the best way to get demands met. Strikes can be expensive for both workers and management, and they can lead to a loss of productivity and profits.
In addition, strikes can sometimes backfire and make management less willing to negotiate with workers in the future.
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Frye LLC reported net income of $1,520,000 in 2021 . Net income included depreciation expense of $120,000 and loss from the sale of a building of $86,400 The company reported an increase in inventory of $12,800 between 2020 and 2021. In addition, there were decreases in accounts receivable and unearned revenue of $8,960 and $6,080, respectivety. What is the net cash provided by operating activities?
$1,476,480
$1,543,680
$1,730,320
$1,303.680
$1,716,480
None of these choices
The net cash provided by operating activities is 1,716,480. Option (e) is correct.
A cash flow statement is a financial statement that displays the inflow and outflow of cash for a business over the course of a given accounting period. Accounting professionals utilize these statements to record, track, and report cash inflows and outflows for their clients' businesses.
OCF = Net Income + Other non-cash items – Increase in current assets + decrease in current assets - decrease in current liabilities
Increase in inventory 12800-asset
Decrease in accounts receivable 8960-asset
Decrease in unearned revenue 6080 - liability
Non cash expenses=depreciation loss on sale of building
Net income 1,520,000,
Add: depreciation 120,000
Add: loss on sale of building 86400
Less: increase in inventory (12800)
Add: decrease in accounts receivable 8960
Less: decrease in unearned revenue (6080)
Net operating cash flows:1716480
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Qd=22,750−0.01PH. This is our current demand equation. Suppose income changes from $60,000 to $72,000. What is the income elasticity of demand for housing when the price is $210,000? Click the icon to view the derivation of the current demand equation. The income elasticity of demand for housing when the price is $210,000 and income changes from $60,000 to $72,000 is EN=□. This is Housing is good. (Round to two decimal places as needed.)
To calculate the income elasticity of demand for housing, we need to use the following formula: EN = (∆Qd / Qd) / (∆Income / Income)
Given that the current demand equation is Qd = 22,750 - 0.01PH and the income changes from $60,000 to $72,000, we can calculate the change in demand (∆Qd) and the change in income (∆Income). ∆Qd = Qd2 - Qd1 = (22,750 - 0.01PH) - (22,750 - 0.01PH) = -0.01PH - (-0.01PH) = 0 ∆Income = Income2 - Income = $72,000 - $60,000 = $12,000 Now, let's calculate the income elasticity of demand when the price is $210,000: EN = (∆Qd / Qd) / (∆Income / Income) = (0 / Qd) / ($12,000 / $60,000) = 0 / (1/5) = 0 Therefore, the income elasticity of demand for housing when the price is $210,000 and income changes from $60,000 to $72,000 is 0. This means that housing is an income inelastic good, indicating that changes in income have little effect on the demand for housing.
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During 2022, its first year of operations as a delivery service, Flounder Corp. entered into the following transactions. Issued shares of common stock to investors in exchange for $137,000 in cash. Borrowed $55,000 by issuing bonds. Purchased delivery trucks for $63,000 cash. Received $18,000 from customers for services performed. Purchased supplies for $6,600 on account. Paid rent of $5,900 Performed services on account for $10,700. Paid salaries of $26,700. Paid a dividend of $11,500 to shareholders. 4. 5. 6. 7 8. 9. Using the following tabular analysis show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders' Equity in the far right column. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced, see Illustration 3-4 for example.) Q Assets Accounts + Receivable Cash Supplies + Equipment (1) $ $ $ (2) (3) (5) (6) (7) (8) (9) $ $ $ Liabilities Accounts = Payable Bonds Payable Common + Stock + Equipment $ $ 1 Q $ $ $ $ uestion 1 OT Stockholders' Equity Retained Earnings Revenues Dividends Expenses - $ $
Performing services on account caused an increase in accounts receivable. Payment of dividends caused a decrease in retained earnings.
In 2022, Flounder Corp. entered into the following transactions: Issued shares of common stock to investors in exchange for $137,000 in cash. Borrowed $55,000 by issuing bonds. Purchased delivery trucks for $63,000 cash. Received $18,000 from customers for services performed.
Purchased supplies for $6,600 on account. Paid rent of $5,900 Performed services on account for $10,700. Paid salaries of $26,700. Paid a dividend of $11,500 to shareholders.Now, we will use the tabular analysis to show the effect of each transaction on the accounting equation.
AssetsAccounts + Receivable CashSupplies+ Equipment
(1)$18,000 $18,000
(2)$137,000 $137,000
(3)$55,000 $55,000
(5)$6,600 $6,600
(6)($63,000) ($63,000)
(7)$10,700 $10,700
(8)($5,900) ($5,900)
(9)($26,700) ($26,700)
Total$29,800 $157,000 $6,600 ($63,000) $129,400
LiabilitiesAccounts = PayableBonds Payable
Common + Stock + Equipment($6,600)($55,000)$137,000
Total($6,600) ($55,000) $137,000 $75,400
Stockholders' EquityRetained
EarningsRevenuesDividendsExpenses [tex]$29,800$10,700$26,700($11,500)Total$29,800$10,700$26,700($11,500)$55,700[/tex].
Explanation for changes to Stockholders' Equity in the far-right column: Issuance of Common Stock in exchange for cash caused an increase in cash and common stock. Purchase of delivery trucks for cash caused a decrease in cash and an increase in equipment.
Receiving $18,000 from customers for services performed caused an increase in accounts receivable.Purchase of supplies on account caused an increase in accounts payable. Payment of rent caused a decrease in cash.Payment of salaries caused a decrease in cash.
Performing services on account caused an increase in accounts receivable. Payment of dividends caused a decrease in retained earnings.
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The Western Province of K.S.A. has approved the 2020 budget as follows:
Budgeted 2020 revenues from:
Property taxes $8,000,000
Sales taxes $2,000,000
Appropriations for 2020:
Salaries $7,200,000
Materials $2,000,000
Equipment $200,000
During 2020, the authority has presented the budget revision to increase the amount of
appropriation for salaries by $100,000. The council approved this budget revision.
Required:
a. Prepare the general journal entry necessary to initially record the budget.
b. Prepare the general journal entry necessary to record the budget revision .
You want the solution clear and tidy, I do not want the handwriting because it is not clear.
a. Preparing the general journal entry necessary to initially record the budget. The general journal entry necessary to initially record the budget is shown below: Date Account Titles and Explanation DebitCredit2020Jan.
1Property Taxes Receivable$8,000,000Sales Taxes Receivable$2,000,000 Appropriations for Salaries$7,200,000 Appropriations for Materials$2,000,000Appropriations for Equipment$200,000 Estimated Revenues and Appropriations Budget Estimated Revenues $10,000,000 Appropriations $9,400,000To record estimated revenues and appropriations budget b. Preparing the general journal entry necessary to record the budget revision. The general journal entry necessary to record the budget revision is shown below: Date Account Titles and ExplanationDebitCredit2020Apr. 1 Appropriations for Salaries$100,000Budgetary Fund Balance$100,000. To record budget revision for salaries increase.
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eep Purple Inc has sales of $1,387,400, costs of goods sold of $891,400, inventory of $188,936, and accounts receivable of $94,800. Pink Floyd has sales of $2,125,900 osts of goods sold of $1,125,200, inventory of $225,600, and accounts receivable of $205,700. Which company is better in managing inventory and why? Multiple Choice Pink Floyd; fewer days in inventory Pink Floyd; lower inventory turnover Deep Purple; lower inventory turnover Deep Purple; fewer days in inventory Pink Floyd; higher amount of inventory carried
To determine which company is better in managing inventory, we need to calculate the inventory turnover and the days in inventory for both companies.
Inventory Turnover = Cost of Goods Sold / Average Inventory
Days in Inventory = 365 days / Inventory Turnover
For Deep Purple Inc:
Cost of Goods Sold = $891,400
Average Inventory = ($188,936 + $94,800) / 2 = $141,868
Inventory Turnover = $891,400 / $141,868 = 6.28
Days in Inventory = 365 days / 6.28 = 58.17 days
For Pink Floyd:
Cost of Goods Sold = $1,125,200
Average Inventory = ($225,600 + $205,700) / 2 = $215,650
Inventory Turnover = $1,125,200 / $215,650 = 5.21
Days in Inventory = 365 days / 5.21 = 70.09 days
Based on the calculations, Deep Purple Inc has a higher inventory turnover (6.28) compared to Pink Floyd (5.21).
by selling and stock its inventory at a faster rate. Additionally, Deep Purple Inc has fewer days in inventory (58.17) compared to Pink Floyd (70.09), which further suggests that Deep Purple Inc is better in managing its inventory as it takes fewer days to sell its inventory.
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You need $5000 in five years If you could choose a discount rate of 8 percent or 10 percent, you should always choose the higher rate because you would need a higher starting amount. true or false
When choosing a discount rate, a higher rate would result in a lower present value of future cash flows. Therefore, if you need $5000 in five years, you should choose the lower discount rate to achieve a higher starting amount. So, the statement is false.
When determining the appropriate discount rate for future cash flows, you should consider the concept of the time value of money. A higher discount rate implies a higher opportunity cost of capital and results in a lower present value of future cash flows. In this case, if you need $5,000 in five years, choosing a higher discount rate would actually lead to a lower starting amount.
To calculate the present value of $5,000 in five years, we can use the formula for present value:
Present Value = Future Value / (1 + Discount Rate)^
Assuming an annual compounding period:
Discount Rate of 8%:
Present Value = $5,000 / (1 + 0.08)^5
Present Value = $3,540.85
Discount Rate of 10%:
Present Value = $5,000 / (1 + 0.10)^5
Present Value = $3,170.09
As shown in the calculations, the present value is lower with a higher discount rate. Therefore, if you have a choice between an 8% or 10% discount rate, you should choose the lower rate (8% in this case) to achieve a higher starting amount.
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Part B: How much depreciation will take place for period 17 Part C: What is the Capital stock in period 2? Question 14 2 ets Part D: What is GDP in period 2? Question 15 2 pts Part E: What was economic growth between periods 1 and 2 (express in percentage points). Part E: What was economic growth between periods 1 and 2 (express in percentage points). Part F: What is the steady state of K for this economy? Part G: What is the steady state of Y for this economy? Question 18 2 pts Part H: Bullding off of our example from the interview with Ciovanni Peri: Suppose an economy is in steady state in period one, with A−1,K−1,L−1, with savings rate 5 and and depreciation rate 5%. Part H: Building off of our example from the Interview with Clovanni Perl: Suppose an economy is in steady state in period one, with A−1,K−1, L−1, with savings rite 5% and depreciation rate 5%. These numbers also tell us that Y=1,Y/L−1, and that MPK=1/3. There is a sudden doubling of labor between periods one and two. With L=2, what is Y/L (ining the new Y for period 2) Question 19 2 pts Part I: What is MPK now? Question 20 2 pts Part J: What is the new steady state of K ?
Part B: How much depreciation will take place for period 17
Depreciation = Depreciation rate × Capital stock in the previous period
Depreciation in period 16 = 0.05 × 400 = 20 units.
Depreciation in period 17 = 0.05 × 420 = 21 units.
Part C: What is the Capital stock in period 2?
Capital stock in period 2 can be calculated using the formula:
Capital stock in period 2 = Capital stock in period 1 - Depreciation in period 1 + Investment in period 1
Capital stock in period 1 = 300
Depreciation in period 1 = 0.05 × 300 = 15
Investment in period 1 = 30
So, Capital stock in period 2 = 300 - 15 + 30 = 315 units.
Part D: What is GDP in period 2?
GDP is equal to the product of the capital stock, labor input and total factor productivity (TFP).GDP in period 2 = (315)^(1/3) × (6)^(2/3) × 1.2 = 131.05
Part E: What was economic growth between periods 1 and 2 (express in percentage points)?
Economic growth rate is equal to [(GDP in period 2 / GDP in period 1) - 1] × 100%
GDP in period 1 =[tex](300)^(1/3) × (6)^(2/3) × 1 = 115.47[/tex]
Economic growth rate between periods 1 and 2 = [(131.05 / 115.47) - 1] × 100% = 13.51%
Part F: What is the steady state of K for this economy?
In steady state, investment = depreciation
So,[tex]k^* = [(s × 1) / (n + δ)]^(1 / (1 - α))k^* = [(0.25 × 1) / (0.02 + 0.05)]^(1 / (1 - 0.3)) = 5.59[/tex]Part G: What is the steady state of Y for this economy?
[tex]Y^* = k^*α × (1)^(1 - α)Y^* = 5.59^0.3 × 1^0.7 = 1.98[/tex]
Question 18 2 pts
Part H: Bullding off of our example from the interview with Ciovanni Peri:
Suppose an economy is in steady state in period one, with A−1,K−1,L−1, with savings rate 5 and and depreciation rate 5%.
These numbers also tell us that Y=1,Y/L−1, and that MPK=1/3.
There is a sudden doubling of labor between periods one and two. With L=2, what is Y/L (ining the new Y for period 2)
Since Y/L = y (output per worker), we have:
[tex]y = k^α = (A K/L)^(α) = (1 * 1^0.3)^(1/3) = 1Y/L = y = 1[/tex]
Part I: What is MPK now?MPK = α Y / KMPK = 0.3 * 1 / 1 = 0.3Part J: What is the new steady state of K?
The new steady state of K is given by the formula:
[tex]k^* = [(s * 2) / (n + δ)]^(1 / (1 - α))k^* = [(0.25 * 2) / (0.05 + 0.05)]^(1 / (1 - 0.3)) = 7.2[/tex]
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News Corp is expected to pay a dividend of $0.8 in one year. The dividend is expected to grow at 12% in the following 3 years and then at a constant rate of 4% per annum indefinitely. If the required rate of return is 12%, what is the price of the company’s share today? Please illustrate your answer using a timeline.
The price of the company's share today is approximately $41.92.
To calculate the price of the company's share today, we can use the dividend discount model (DDM). The DDM calculates the present value of all future dividends to determine the current stock price. Here's how we can calculate it:
Step 1: Calculate the present value of dividends for the first four years.
PV(Dividend Year 1) = Dividend Year 1 / (1 + Required Rate of Return)
PV(Dividend Year 1) = $0.8 / (1 + 0.12) = $0.7143
PV(Dividend Year 2) = Dividend Year 2 / (1 + Required Rate of Return)^2
PV(Dividend Year 2) = $0.8 * (1 + 0.12) / (1 + 0.12)^2 = $0.6364
PV(Dividend Year 3) = Dividend Year 3 / (1 + Required Rate of Return)^3
PV(Dividend Year 3) = $0.8 * (1 + 0.12)^2 / (1 + 0.12)^3 = $0.5678
PV(Dividend Year 4) = Dividend Year 4 / (Required Rate of Return - Dividend Growth Rate)
PV(Dividend Year 4) = $0.8 * (1 + 0.12)^3 / (0.12 - 0.04) = $13.3333
Step 2: Calculate the present value of the terminal value (dividends after Year 4).
PV(Terminal Value) = Dividend Year 5 / (Required Rate of Return - Dividend Growth Rate)
PV(Terminal Value) = $0.8 * (1 + 0.12)^4 / (0.12 - 0.04) = $26.6667
Step 3: Calculate the total present value of dividends.
Total PV of Dividends = PV(Dividend Year 1) + PV(Dividend Year 2) + PV(Dividend Year 3) + PV(Dividend Year 4) + PV(Terminal Value)
Total PV of Dividends = $0.7143 + $0.6364 + $0.5678 + $13.3333 + $26.6667 = $41.9185
Step 4: Calculate the price of the company's share today.
Price = Total PV of Dividends
Price = $41.9185
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Radison Inc, sells a product for $63 per unit. The variable cost is $29 per unit, while fixed costs are $397,664. Determine (a) the break-even point in sales units and (b) the break-even point if the selling price were increased to $72 per unit. a. Break-even point in sales units b. Break-even point if the selling price were increased to $72 per unit units units
The break-even point if the selling price were increased to $72 per unit is approximately 9,236 units.
To calculate the break-even point in sales units, you can use the following formula: Break-even point (in units) = Fixed costs / Contribution margin per unit. First, let's calculate the contribution margin per unit: Contribution margin per unit = Selling price per unit - Variable cost per unit= $63 - $29= $34. (a) Break-even point in sales units: Break-even point (in units) = $397,664 / $34≈ 11,699.53 units. Therefore, the break-even point in sales units is approximately 11,700 units. To calculate the new break-even point if the selling price were increased to $72 per unit, we need to recalculate the contribution margin per unit: New contribution margin per unit = New selling price per unit - Variable cost per unit= $72 - $29= $43. (b) Break-even point if the selling price were increased to $72 per unit: Break-even point (in units) = $397,664 / $43≈ 9,235.44 units.
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Discuss the role of Internet Architecture Board (IAB) which support the structure of the Internet and indicate how it would impact e-commerce participants:
The Internet Architecture Board (IAB) provides strategic oversight and guidance for the development and maintenance of the Internet's architectural principles and protocols.
The Internet Architecture Board (IAB) is an advisory body that plays a crucial role in maintaining the structure and functionality of the Internet. It provides strategic direction and oversight for the development of Internet standards and protocols, ensuring that they adhere to the fundamental principles of the Internet.
The IAB is responsible for reviewing and approving protocols proposed by various standardization bodies, such as the Internet Engineering Task Force (IETF). It also works closely with other organizations, including the Internet Corporation for Assigned Names and Numbers (ICANN), to ensure coordination and compatibility in Internet operations.
Regarding its impact on e-commerce participants, the IAB's role in maintaining a robust and secure Internet infrastructure is of great significance. E-commerce heavily relies on a stable and efficient online environment to function effectively. The IAB's efforts to define and maintain Internet protocols and standards directly contribute to the smooth operation of e-commerce platforms.
By providing guidance on Internet architecture, the IAB promotes interoperability and compatibility among different e-commerce systems. This allows business to seamlessly connect with customers, partners, and service providers across the Internet, regardless of the underlying technologies used. The IAB's work ensures that e-commerce participants can rely on a consistent and reliable online ecosystem, fostering trust and enabling the growth of online transactions.
Furthermore, the IAB's focus on security and privacy considerations helps protect e-commerce participants from various cyber threats and data breaches. Its efforts in promoting the adoption of secure communication protocols and encryption standards contribute to safeguarding sensitive information transmitted during online transactions.
In summary, the IAB plays a vital role in supporting the structure of the Internet. Its work has a significant impact on e-commerce participants by ensuring a stable, interoperable, and secure online environment conducive to conducting business transactions effectively and securely
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A Raisin in the Sun study questions
11. Many of the problems the Youngers must confront are specific to the African American family; others are problems that every family, Black or White, must deal with. What in the play do you see as specifically African American, and what is universal?
12. Through most of the play, Walter is shown in a state of arrested development, still very much like a teenager. Do you feel, as Mama comes to, that because for many years she refused to cede the position of head of the family to him, she is to blame for the deficiencies in his character?
13. Though three of them work as servants, Mama and her family believe that "being any kind of a servant wasn’t a fit thing for a man to have to be". This belief goes against one that, because of Booker T. Washington’s influence, had value in the Black community at that time: that all labor was possessed of dignity. Do you side with Mama on this issue, or with Washington? What are your reasons? Is this purely a racial matter, or is it a problem which all races must solve?
14. Asagai sees "what the New World hath finally wrought" in Beneatha—but Beneatha, with a darker vision, sees it in Walter. In what way are they both right? How has American society, with its strengths and weaknesses, shaped both Beneatha and Walter?
15. In answer to someone who thought the play’s ending was a happy one, Lorraine Hansberry retorted: "I invite him to come live in one of the communities where the Youngers are going!" Do you share the opinion that the ending is happy, such as promising hope, or greater strength for the Youngers as a family?
11. The problems that the Youngers have to face in the play, A Raisin in the Sun, are primarily African-American in nature.
Although some of these problems, such as housing and poverty, are common to all races and social groups,
they are far more prevalent among African Americans. The Younger family's problems are exacerbated by
the fact that they are African American.
They are refused housing because of their race, and they struggle to make ends meet because of poverty and
a lack of education.12. Mama's role in Walter's character development is a contentious issue.
While Mama's unwillingness to relinquish control of the family's finances has undoubtedly contributed to Walter's lack of responsibility and his inability to act like an adult,
it is unfair to place the blame solely on Mama. Mama has been a widow for a long time, and she has had to work hard
to keep her family afloat. She is simply trying to do
what she believes is best for her family.13. Mama and her family's belief that being a servant is not a "fit thing for a man" is a racial issue.
It stems from a belief that African American men are superior to other men, and that they should be
doing something more important than serving.
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Which style of communication do you think would be most beneficial to the long-term success of a US company operating internationally- high context or low context communications? Why? Be sure to refer to your text.
The most beneficial style of communication for the long-term success of a US company operating internationally would be a high context communication approach. High context communication refers to a style of communication where a significant portion of the message is conveyed through context, non-verbal cues, and shared understanding among individuals.
This style is often used in collectivist cultures, where relationships and harmony are valued.Operating internationally requires understanding and adapting to different cultural norms and communication styles. In many countries outside the United States, high context communication is prevalent, particularly in cultures that emphasize indirectness, non-verbal cues, and implicit understanding.
Adopting a high context communication approach offers several advantages for a US company operating internationally:
1. Building Trust and Relationships: High context communication values building personal relationships and trust over time. In many cultures, trust is crucial for successful business relationships. By using high context communication, a company can show respect for local customs and foster deeper connections with international partners, employees, and customers.
2. Cultural Sensitivity: High context communication demonstrates cultural sensitivity and adaptability. It shows a willingness to understand and embrace local customs, values, and communication preferences. This approach helps to avoid misunderstandings, misinterpretations, and potential conflicts due to cultural differences.
3. Effective Cross-Cultural Communication: High context communication allows for the effective transmission of implicit messages and cultural nuances that might not be explicitly stated. This helps bridge language and cultural barriers, enabling better understanding and collaboration across diverse teams and markets.
4. Long-Term Relationship Building: In many international markets, long-term relationships are highly valued. High context communication fosters deeper connections and facilitates ongoing relationships, which can be crucial for the long-term success and sustainability of a US company operating internationally.
While low context communication, which relies more on explicit and direct communication, may have its merits in certain situations, adopting a high context communication style demonstrates respect for cultural diversity and facilitates smoother interactions and business operations in international contexts.
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1.What is HR doing to provide value-added services to internal clients? 2.Do the actions of HR support and align with business priorities? 3.How are you measuring the effectiveness of HR?
4. How can we reinvest in employees?
5.What HR strategy will get business from point A to B?
6.What should HR do to improve our marketplace position?
7.What’s the best change to prepare for the future?
8.Do we react to business problems or anticipate them in advance?
1. HR is providing value-added services to internal clients by offering strategic HR consulting, talent management and development programs, employee engagement initiatives, performance management systems, and effective HR policies and practices.
1. They are focusing on delivering solutions that enhance employee productivity, satisfaction, and overall organizational effectiveness.
2. The actions of HR should support and align with business priorities. HR should work closely with business leaders to understand their strategic objectives and align HR initiatives, programs, and policies accordingly.
3. The effectiveness of HR can be measured through various metrics such as employee retention rates, employee satisfaction surveys, performance management metrics, training and development ROI, and HR operational efficiency indicators.
4. To reinvest in employees, HR can focus on initiatives such as employee training and development programs, career progression opportunities, competitive compensation and benefits packages, work-life balance initiatives, and fostering a positive and supportive work culture.
5. The HR strategy that will get the business from point A to B will depend on the specific business objectives and challenges. HR should work closely with business leaders to develop a comprehensive HR strategy that aligns with the overall business strategy, addresses key HR issues, and supports the organization in achieving its goals.
6. To improve the marketplace position, HR can focus on strengthening employer branding and reputation, developing a competitive total rewards package, implementing effective recruitment and selection processes, fostering a diverse and inclusive work environment, and continuously improving HR practices based on market trends and best practices.
7. The best change to prepare for the future will depend on the specific context and industry. However, some key areas that HR can focus on include embracing technological advancements and digital transformation, fostering a culture of continuous learning and adaptability, promoting innovation and agility, and developing workforce planning strategies to address future skills and talent needs.
8. HR should aim to both react to business problems and anticipate them in advance. While it is important to be responsive to immediate business needs and challenges, HR should also take a proactive approach by anticipating potential issues and developing strategies to mitigate risks and seize opportunities.
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A firm has a straight, downward sloping inverse demand curve. When the slope of the corresponding total revenue curve is negative, the firm has elastic demand.
True or False?
A firm has a straight, downward sloping inverse demand curve is false. When the slope of the corresponding total revenue curve is negative, the firm has inelastic demand, and when the slope is positive, it has elastic demand.
An inverse demand curve is a graphical representation of the demand schedule, which represents the relationship between the price of a commodity and the quantity of goods or services that customers are willing to buy at that price. It depicts the relationship between the price and the quantity demanded, which is the quantity of a good or service that a consumer is willing and able to buy at various price levels. In other words, the inverse demand curve is a plot of the highest price a consumer is willing to pay for a given quantity of a good, which implies a price and quantity inverse relationship.
The total revenue curve is a curve that graphically illustrates how the total revenue of a firm changes as the quantity of output it produces changes. As the price of a commodity increases, the quantity sold of that commodity decreases, and the total revenue decreases. As a result, the slope of the total revenue curve is negative when the demand curve is downward-sloping. When the slope of the total revenue curve is negative, the corresponding demand curve is inelastic, indicating that the quantity of goods demanded is less responsive to changes in price.
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What are the 6 parts of the financial system and tell me about them.
The financial system is composed of various parts that work together to facilitate the flow of money and financial transactions in an economy. Here are six important components of the financial system:
1. Financial Institutions: These are entities that provide financial services to individuals, businesses, and governments. Examples include banks, credit unions, insurance companies, and investment firms. Financial institutions play a crucial role in intermediating between savers and borrowers, managing risk, and providing access to credit and investment opportunities.2. Financial Markets: These are platforms where buyers and sellers come together to trade financial assets such as stocks, bonds, currencies, and commodities. Financial markets can be physical locations like stock exchanges or electronic platforms like online trading platforms. They enable the efficient allocation of capital, price discovery, and risk management.
3. Central Banks: Central banks are responsible for regulating and overseeing the financial system of a country. They are often the sole authority in charge of issuing and managing the country's currency. Central banks also implement monetary policies to control inflation, stabilize the economy, and promote financial stability. Examples of central banks include the Federal Reserve in the United States and the European Central Bank in the Eurozone.4. Regulatory Authorities: These are government agencies that enforce regulations and supervise financial institutions and markets. Their primary role is to maintain the integrity and stability of the financial system, protect consumers, and ensure fair practices. Regulatory authorities set rules and guidelines that financial institutions must follow to promote transparency, accountability, and risk management.
5. Payment Systems: Payment systems facilitate the transfer of funds between individuals, businesses, and institutions. They include mechanisms such as electronic funds transfer, debit and credit cards, and mobile payment applications. Payment systems ensure the smooth flow of transactions, improve convenience, and enhance financial inclusion.6. Financial Instruments: These are contracts or securities that represent a financial value and can be traded or exchanged. Examples of financial instruments include stocks, bonds, options, futures contracts, and derivatives. Financial instruments enable investors to participate in the financial markets, diversify their portfolios, and manage risks.
Each part of the financial system plays a crucial role in supporting economic activities, allocating resources, and promoting financial stability. By working together, these components help facilitate economic growth and provide individuals and businesses with the financial tools and services they need.
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Which of the following is a feature of utility?
A. Utility can be measured
B. Utility is a measure of satisfaction gained from producing a good
C. When consuming the same good, utility is constant across individuals
D. When consuming the same good, utility varies across individuals.
E. Utility always rises at a constant rate
The correct answer is D. When consuming the same good, utility varies across individuals. Utility refers to the satisfaction or usefulness that individuals derive from consuming a good or service.
It is subjective and varies from person to person. Different individuals have different preferences, tastes, and needs, which affect their level of satisfaction or utility from consuming the same good. Therefore, utility can vary across individuals. Option A is incorrect because while utility can be measured, it is not a defining feature. Option B is incorrect because utility is not necessarily a measure of satisfaction gained from producing a good, but rather from consuming it. Option C is incorrect because utility can vary across individuals. Option E is incorrect because utility does not always rise at a constant rate; it depends on the individual's preferences and needs.
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A bicycle manufacturer can increase responsiveness through its facilities via location of the facility, size of the facility and the degree of flexibility to accommodate the changing demands of the bicycles in the market.If there is a close proximity between the market and the facility and between the facility and the suppliers location, there is a high responsiveness for the bicycle manufacturer.
The bicycle manufacturer can increase responsiveness by considering the location of the facility, the size of the facility, and the degree of flexibility to accommodate changing market demands. . Proximity to the market and suppliers enhances responsiveness.
Location plays a crucial role in the responsiveness of a bicycle manufacturer's facilities. By strategically locating the facility in close proximity to the market, the manufacturer can minimize transportation time and costs, resulting in faster delivery to customers. This proximity allows the manufacturer to quickly respond to customer demands, reducing lead times and improving customer satisfaction.
Additionally, proximity between the facility and suppliers' locations is essential. Having suppliers located nearby enables faster and more efficient procurement of necessary components and materials. This proximity reduces the time and cost associated with transportation and allows for quicker replenishment of inventory, facilitating timely production and order fulfillment.
The size of the facility is another factor influencing responsiveness. A larger facility can accommodate greater production capacity and inventory levels, enabling the manufacturer to respond to fluctuating market demands effectively. It provides the flexibility to scale up or down production based on market needs, reducing lead times and maintaining an optimal level of inventory.
Flexibility is vital for adapting to changing demands in the bicycle market. The facility should be designed with modularity and versatility in mind, allowing for easy reconfiguration of production lines or processes. This flexibility enables the manufacturer to quickly adjust production to meet evolving market trends, introduce new bicycle models, or modify existing ones to cater to customer preferences.
In summary, a bicycle manufacturer can enhance responsiveness by considering the location of the facility in relation to the market and suppliers, ensuring close proximity. Additionally, the size of the facility and its degree of flexibility play significant roles in accommodating changing market demands. By optimizing these factors, the manufacturer can achieve higher responsiveness, leading to improved customer satisfaction, reduced lead times, and enhanced competitiveness in the bicycle industry.
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Suppose corisumers will demand 55 units of a product whan the price is $16.40 per unit and 20 unita when fhe prico is $23.40 each. Find the demand equacon, askuring that it is inear. Find the price per unit when 50 units are demanded. Find the demand equation, where p is the price per unit and q is the quantify of unis demanded. p= (Smplity your answer.)
$19.40 is the price per unit. Consumers will demand 55 units of a product when the price is $16.40 per unit and 20 units when the price is $23.40 each.
Suppose, demand equation be y = mx + c, where y = quantity demanded and x = price per unit.
Consumers will demand 55 units of a product when the price is $16.40 per unit.
Thus, (16.40, 55) satisfies the demand equation.
Therefore, 55 = 16.40m + c ………..(1)
Similarly, when 20 units are demanded, the price is $23.40 each.
Thus, (23.40, 20) satisfies the demand equation.
Therefore, 20 = 23.40m + c ………..(2)
To find demand equation, let us subtract equation (2) from equation (1) and solve for m.
Then, (1) – (2)
⇒ 55 - 20 = 16.40m + c - 23.40m - c
⇒ 35 = -7m
⇒ m = -5
Hence, m = -5.So, from equation (1),
55 = 16.40m + c
⇒ 55 = 16.40 (-5) + c
⇒ c = 147
Therefore, demand equation is y = -5x + 147.
Now, to find the price per unit when 50 units are demanded, let y = 50.
Substituting in
y = -5x + 147, 50 = -5x + 147
⇒ 5x = 147 - 50 = 97
⇒ x = 19.4
Therefore, the price per unit is $19.40.
Given, Consumers will demand 55 units of a product when the price is $16.40 per unit and 20 units when the price is $23.40 each.
Suppose, demand equation be y = mx + c, where y = quantity demanded and x = price per unit.
Consumers will demand 55 units of a product when the price is $16.40 per unit.
Thus, (16.40, 55) satisfies the demand equation.
Therefore, 55 = 16.40m + c ………..(1)
Similarly, when 20 units are demanded, the price is $23.40 each.
Thus, (23.40, 20) satisfies the demand equation.
Therefore, 20 = 23.40m + c ………..(2)
To find demand equation, let us subtract equation (2) from equation (1) and solve for m.
Then, (1) – (2)
⇒ 55 - 20 = 16.40m + c - 23.40m - c
⇒ 35 = -7m
⇒ m = -5
Hence, m = -5.So, from equation (1), 5
5 = 16.40m + c
⇒ 55 = 16.40 (-5) + c
⇒ c = 147
Therefore, demand equation is y = -5x + 147.
Now, to find the price per unit when 50 units are demanded, let y = 50.
Substituting in
y = -5x + 147, 50 = -5x + 147
⇒ 5x = 147 - 50 = 97
⇒ x = 19.4
Therefore, the price per unit is $19.40.
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Q 6 On June 1. 2020, Sam borrows $2000 at 11% simple interest. She pays $800 on October 17. 2020; and 5500 on February 2, 2021. What is the balance due on April 18, 2021? (indicate the payments on a time line)
The balance due on April 18, 2021, is -$4280.09. This means that Sam still owes $4280.09 to the lender.
To calculate the balance due on April 18, 2021, we need to track the payments made by Sam and subtract them from the original loan amount of $2000. The interest is calculated at a simple interest rate of 11%.
Let's track the payments made by Sam on a timeline:
June 1, 2020: Sam borrows $2000.
October 17, 2020: Sam pays $800.
February 2, 2021: Sam pays $5500.
To calculate the balance due on April 18, 2021, we need to subtract the payments made from the original loan amount.
First, let's calculate the interest rate accrued from June 1, 2020, to April 18, 2021:
Interest = Principal × Rate × Time
= $2000 × 0.11 × (321/365)
= $19.91 (rounded to two decimal places)
Next, subtract the total payments made by Sam:
Balance due = Principal + Interest - Total payments
= $2000 + $19.91 - ($800 + $5500)
= $2000 + $19.91 - $6300
= -$4280.09 (negative value indicates a balance due)
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