A result of welfare economics is that the equilibrium price of a product is considered to be the best price because it maximizes the combined welfare of buyers and sellers.
The foundation of welfare economics is the belief that human welfare can be measured, compared among individuals, and valued together with other ethical and philosophical notions of well-being.
Utility theory is first used in microeconomics before being applied to welfare economics. Utility is the term used to describe the perceived worth attached to a specific commodity or service.
According to conventional microeconomic theory, people try to maximize their utility through their activities and consumption decisions, and consumer and producer surplus results from the interactions of buyers and sellers through the laws of supply and demand in competitive markets. The study of welfare economics is subjective.
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in 2013, a big mac cost $4.37 in the u.s. in spain, a big mac cost 6.73 euros the same year. if the actual exchange rate of euros to dollars is 1.24, does ppp hold based on the big mac? multiple choice question. yes. the exchange rate predicted by ppp is 1.24 yes. the exchange rate predicted by ppp is 1.54 no. the exchange rate predicted by ppp is 0.65 no. the exchange rate predicted by ppp is 1.54
Purchasing power parity (PPP) states that a good's price in one country is the same as its price in another country after taking into account the difference in exchange rates.
Since 1986, The Economist has tracked the price of McDonald's Big Mac burgers in numerous nations as a lighthearted annual PPP test. Let's look at this one-of-a-kind indicator, which is called the Big Mac PPP, and see what we can learn about a country's wealth from the price of the ubiquitous Big Mac.
How Purchasing Power Parity (PPP) Works
To show how PPP works, let's say the exchange rate between the US dollar and the Mexican peso is 1/15 pesos. Assuming that the two nations have purchasing power parity, the cost of a Big Mac in Mexico would be approximately 55 pesos if it cost $3 in the United States.
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mobile marketing: select one: a. utilizes mail and catalogs. b. utilizes high reach efforts. c. utilizes cell phones and forms of transportation. d. utilizes exposure methods. e. seeks high impact.
Mobile marketing utilizes cell phones and forms of transportation.
What is mobile marketing?Any form of advertising that uses mobile devices, such as tablets and smartphones, to advertise goods and services is known as mobile marketing. It uses characteristics of contemporary mobile technology, such as location services, to customize marketing campaigns according to a person's location.
Technology can be applied to mobile marketing to offer personalized promotions of products or services to a user who is always connected to a network.
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which production system combines a number of raw materials or parts into a finished product, or changes raw materials into completely different finished products?
A production system that combines a number of raw materials or parts into a finished product, or changes raw materials into completely different finished products is a synthetic production system.
In the field of business, such a firm or business that forms new, finished products by using raw materials is referred to as the synthetic production system.
A synthetic production system looks for the raw materials and is specialized to produce goods from these raw materials.
In the synthetic production system, different parts of products may also be combined to get a completely new finished product.
Although a part of your question is missing, you might be referring to this question:
A production system that combines a number of raw materials or parts into a finished product or changes raw materials into completely different finished products is known as
synthetic
unified
extractive
intermittent
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tracy is covered by a group dental insurance plan at work. at her latest check-up, the dentist notes that she needed crowns on two teeth. under her plan, if the cost of dental work will exceed $500, the dentist submits the treatment plan to the insurer to calculate what the plan will cover and what the employee will pay. this provision is known as a
Tracy is covered by a group dental insurance plan at work. Under her plan, if the cost of dental work will exceed $500, the dentist submits the treatment plan. This provision is known as a predetermination of benefits.
A predetermination of benefits is an estimate in writing from your dental insurer of the sum your dental plan will pay for a particular treatment based on data supplied by your dentist.
The predetermination technique used by SDC is beneficial to the patient as well as the treating dentist. Predeterminations help you, the patient, understand your financial obligations and guarantee that the planned service is covered by the dental plan.
Predeterminations can speed up claim payment because documentation criteria are met before treatment starts. A dentist must submit a predetermination if the planned treatment plan costs more than $400 or includes periodontal therapy.
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suburbanization within more developed countries is due to a. expanding urban territory. b. increasing employment opportunities. c. desire to change lifestyle. d. regional development. e. global investment.
Suburbanization within more developed countries is due to the desire to change lifestyle.
Suburbanization:
Suburbanization is the terms refers the growth and spatial reorganization of contemporary city. And the growth out of the compact city is the result of the flow of population, dwelling places, and commercial and industrial activities to new low-density settlements.
Given,
Here we need to find the reason for the suburbanization within more developed countries.
According to the definition of the suburbanization, the reason for the the suburbanization in the developed countries is the desire to change the lifestyle of the person.
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salespeople from acme corp. are searching for potential customers from company sales records, trade shows, commercial databases, newspaper announcements, public records, telephone directories, trade association directories, and many other sources. this is best described as
Salespeople from acme corp. are searching for potential customers from company sales records, trade shows, commercial databases, newspaper announcements, public records, telephone directories, trade association directories, and many other sources. this is best described as prospecting.
An illustration of a salesman is someone who sells buses. A salesperson or salesman. A person who's employed to vend products or services. A person employed to vend goods or services. All salesmen can be grouped into one of three orders The Commodity salesman. The Price salesman. The Solution Value Salesperson.
A salesman is someone who sells a product or service, and his or her main idea is making deals. The salesman may or may not actually be passionate about the product or service. He or she's utmost interested in earning a plutocrat.
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research indicates that high-performance teams are much more likely to develop when the manager hand-selects team members. True False
The given statement is true, that high-performance teams are much more likely to develop when the manager hand-selects team members.
What holds true for high-achieving teams?Teams that work well together have similar goals, objectives, and priorities. To ensure that their efforts result in success, they establish team and personal goals that complement this common vision.
In order for everyone to know exactly what they need to do and how to get there, goals must not only be aligned, but also clearly defined. The hand-picking of team members by the manager increases the likelihood of high-performance teams developing.
Therefore, it is true.
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cory is working on the budget for his landscaping business. he decides he needs help with identifying, measuring, and recording financial transactions. who would be the best person to help him with these tasks?
A bookkeeper would be the best person to help Cory with identifying, measuring, and recording financial transactions.
Identification entails figuring out what financial transactions, or other items, need to be recorded. Items bought with cash or on credit, for instance, will be noted. The books of accounts do not include items of a non-financial nature, such as modifications to managerial procedures, etc.Measurement is the process of putting business transactions into numerical terms using a monetary unit. It is not deemed appropriate to record an event in the company's books if it cannot be valued financially. Due to this, significant events such as appointments and the signing of contracts, etc., are not recorded in the books of accounts.Recording After being recognised and quantified in monetary terms, economic events are recorded in books of accounts in monetary terms, date-wise. Business transactions are recorded in such a way that the essential financial data is condensed in accordance with accepted accounting principles.Learn more about Financial data, here
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what are the roles of the states as economic globalization continues to grow? what makes these economies vulnerable?
Globalization additionally creates a sense of interdependence among nations, which should create an imbalance of power amongst countries of specific economic strengths.
The role of the nation-state in a world world is mostly a regulatory one as the chief factor in global interdependence.
What is the role of globalization in monetary development?In general, globalization decreases the fee of manufacturing. This means that organizations can provide goods at a decrease rate to consumers. The common fee of goods is a key component that contributes to increases in the standard of living. Consumers additionally have access to a wider variety of goods
Elements of monetary globalizationThe growth in cross-border economic things to do takes five fundamental forms: (1) global trade; (2) overseas direct investment; (3) capital market flows; (4) migration (movement of labor); and (5) diffusion of technological know-how (Stiglitz, 2003).
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https://brainly.com/question/25499191#SPJ4what is appealing about the perfectly competitive equilibrium solution is selected answer: incorrect. all of the above answers: correcta. it identifies the point that is both socially efficient and socially fair b. it identifies the price at which the producer pays the entire production cost c. it identifies the point at the buyer pays the entire production cost
All of the above is appealing about the perfectly competitive equilibrium solution.
What is an equilibrium with perfect competition?
When there is perfect competition, the market will be in an equilibrium when supply and demand are equal. At this moment, a firm's pricing will be established. Demand will have an impact on equilibrium in the short term.
Price equivalent to AVC results in a loss for the company. Because it needs to cover at least its AVC in the short run in order to manufacture, the company will close if the price drops even little below AVC. A firm is therefore in equilibrium in all of the aforementioned circumstances in the short run under perfect competition.
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my son is saving his allowance and chore money to buy a new bicycle. which function of money is he utilizing? group of answer choices medium of exchange. unit of account. store of value. standard of deferred payment.
Medium of exchange of money is he utilizing.
Money is any item that is typically usual as a fee for goods and offerings and reimbursement of debts in a given socio-monetary context. the principle features of cash are distinguished as a medium of change; a unit of account; a store of cost; and, every so often, a preferred deferred fee.
The 4 unique types of money as classified by using economists are commercial money, fiduciary cash, fiat cash, and commodity money. cash whose fee comes from a commodity of which it's far made is referred to as commodity cash.
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which factors are important to consider when deciding if a job opportunity fits in with your long-term career goals?
Type of work, Alignment with core values, and Opportunities for growth are crucial variables to examine when considering if a job opportunity fits in with your long-term career aspirations.
A person's values can be personal or political, depending on whether they are evaluated in respect to the individual or to society. Apart from moral virtue, examples of personal values include friendship, knowledge, beauty, and so on, while examples of political values include justice, equality, and liberty. This article will discuss some contemporary thoughts concerning the first group - personal values. It will begin by looking at the types of things that have worth and will end by looking at some of the theories that seek to describe what value is. Although many, if not all, of the principles mentioned are universal, references will be made mainly to Western sources.
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what is an interactive process of addressable communication that uses one or more advertising medium to affect, at any location, a measurable sale, lead, retail purchase or charitable donation, with this activity analyzed on a database for the development of ongoing mutually beneficial relationships between marketers and customers, prospects, or donors?
direct marketing DMA is an interactive process of addressable communication that uses one or more advertising mediums to affect, at any location, a measurable sale, lead, retail purchase, or charitable donation, with this activity, analyzed on a database for the development of ongoing mutually beneficial relationships between marketers and customers, prospects, or donors.
Direct advertising and marketing is the shape of speaking a suggestion, where companies speak at once to a pre-decided consumer and supply a way for a direct response. among practitioners, it's also known as direct response advertising. In contrast, advertising is of a mass-message nature.
response channels include toll-loose cellphone numbers, reply playing cards, reply bureaucracy to be despatched in an envelope, websites, and electronic mail addresses.
the superiority of direct marketing and the unwelcome nature of some communications has led to policies and laws inclusive of the CAN-spam Act, requiring that purchasers inside America be allowed to decide out. Direct advertising, the usage of catalogs, became practiced in 15th-century Europe. The writer Aldus Manutius of Venice revealed a listing of the books he offered for sale. In 1667, the English gardener, William Lucas, posted a seed catalog, which he mailed to his clients to tell them of his fees. Catalogs spread to colonial the USA, wherein Benjamin Franklin is believed to have been the first cataloguer in British the united states. In 1744, he produced a list of medical and educational books.
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the tendency of existing firms to be slow to respond to changes in the industry environment due to their large size, established routines, or prior strategic commitments to existing suppliers and customers is known as
Incumbent inertia is the tendency of existing firms to be slow to respond to changes in the industry environment due to their large size and established routines with existing suppliers and customers.
Incumbent inertia, defined as the failure to implement internal change in the face of significant external change, causes incumbents to fail in markets where they once held a competitive advantage. It is possible for an incumbent to become inert if they wait until the market is fully developed or if they are undecided about the best course of action. The literature does not mention this second explanation as a reason for incumbent inertia.
By allocating resources effectively and acquiring capabilities that enable them to outperform rivals, businesses can gain a competitive edge (Day, 1994), but as the competitive environment changes, firms may lose their ability to compete.
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what proportion of disputes that begin the eeoc mediation process are eventually resolved through mediation?
More than half disputes that begin the Eeco mediation process are eventually resolved through mediation.
What is Mediation?
An unbiased third person helps opposing parties resolve dispute via the use of specialised communication and negotiation strategies in mediation, which is a structured, interactive process. We urge active participation from each and every mediator participant. In a mediation, the parties meet with a third party who is neutral and objective and who helps them negotiate their disagreements. Evaluative, facilitative, and transformative mediation are the three basic mediation techniques. The arbitrator is unbiased. This implies that they are neutral. They are there to assist all parties in finding a resolution they can all support. The focus is on finding ways to reach an understanding on how to collaborate in the future rather than deciding who was right or wrong in the past.
Hence, More than half disputes that begin the Eeco mediation process are eventually resolved through mediation.
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one of the reasons why renting offers fewer financial benefits than home ownership is that rent is not tax deductible while the interest on mortgage payments is.
Rent is not tax deductible, which is one of the reasons renting provides fewer financial advantages than home ownership.
Is it better to rent or own for taxes?You can write off a portion of your rent if you utilize your rental property for commercial purposes. A few states also allow tenants to deduct a small amount from their state taxes. Therefore, buying is the better option when comparing the tax benefits of doing so vs renting.Renting offers more predictable costs than home ownership. You can more accurately forecast your monthly housing costs if you don't have to worry about upkeep, repairs, and upgrades. Although the price is set for the term of your lease, your rent may rise over time.Certain rental costs are allowable deductions on your tax return if you receive rental income from the rental of a home.To learn more about rent or own for taxes refer to:
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gavelco insurance sells an insurance policy over the phone to barry, who lives in the state of colorado. gavelco violates a colorado state statute when doing so, because it is not licensed to sell in the state. later barry gets into a dispute with gavelco over coverage of the insurance policy and wants to enforce the insurance contract. the insurance contract will be:
GavelCo Insurance sells an insurance policy to Barry in the state of Colorado. It violates a Colorado state statute. Later Barry gets into a dispute with GavelCo over coverage and wants to enforce the insurance contract. The insurance contract will be enforceable by Barry, the purchaser, and he can recover from the insurer if applicable.
An insurance policy is a contract between an insurer and an insured, in which the insurer agrees to pay the insured a sum of money in the event of certain specified events occurring.
The policyholder pays a premium to the insurer, which the insurer uses to cover claims made by the policyholder.
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peter taylor, a cfa charterholder and a food industry analyst for a large investment firm, has been invited by sweet pineapple co. to visit the firm's processing plants in hawaii. the standard concerning independence and objectivity recommends that taylor:
The standard concerning independence and objectivity recommends that taylor use and pay for commerical transportation if available.
In order to comply with Standard I(B) Independence and Objectivity, it is advised that analysts visiting companies cover their own travel costs and, if possible, take commercial transportation.
Chartered financial analyst is referred to as CFA. The CFA Institute awards the charter, a professional credential, to financial and investment professionals who have finished its programme of study, aced all three levels of examinations, and adhered to other standards set by the organization.
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a scrap metal facility has been neglecting employee health and safety. if employees contact osha to request an inspection, what can the facility's management expect?
The facility should expect from criminal charges against the employer staff members.
What can I anticipate from an OSHA inspection?Inspection denotes a thorough analysis. Meeting consumer needs while preventing the distribution of substandard items are inspections' main goals. Undoubtedly, some product flaws cannot be detected or corrected at the final stages of manufacture. Pay attention to the worries of the employees and their representatives. Data on reported incidents and workplace hazards are reviewed and analyzed. Determine the root source of any dangers, both current and potential.
According to the Occupational Safety and Health Act, an agency can bring criminal charges against an employer if: Intentional violation of law resulting in the death of an employee. Prior notice of an OSHA inspection; or providing false information in documents required by law.
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an investor put 50% of her money in stock a and 50% in stock b. stock a has a beta of 0.9 and stock b has a beta of 1.3. if the risk-free rate is 1% and the market risk premium is 5%, what is the expected portfolio return?
Expected portfolio return is 6% if the risk-free rate is 1% and the market risk premium is 5%.
given,
money in stock a = 50%
money in stock b = 50%
expected portfolio return=?
Risk free rate=1%
Market risk premium = 5%
Using the given formula,
Market risk premium =expected portfolio return - Risk free rate
expected portfolio return = Market risk premium + Risk free rate
expected portfolio return = 5% + 1%
expected portfolio return = 6%
expected portfolio return is 6%.
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in order for a adroc development corp. to receive approval to build a new subdivision, it is required to create a community park bordering the development. the developer agreed to do so, but what may the city require to ensure the park actually gets completed?
So that adroc development corp. A community park must be built along the boundary of a new subdivision in order to receive approval. The developer agreed to do so, but the city may require a completion bond to guarantee the park's completion.
What exactly is a completion bond?
A contract known as a completion bond promises financial compensation in the event that a project is not completed. It safeguards the project in the event that the contractor runs out of money or encounters other budgetary issues. Films, video games, and construction projects are among the many industries that make use of completion bonds.
What exactly is a bond growth?
A development impact bond is a type of security that attracts private investors to finance development programs in low-resource nations. A subset of social impact bonds are development impact bonds.
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1. What is public relations? Give an example of a public relations activity. (1 point)
therefore, the net effect of an increase in the price level in the united states is that the amount of u.s. goods and services that are purchased will change in an unknown way. increase. decrease. not change.
Thus, the net effect of an increase in the price level in the United States is a decrease in the amount of goods and services purchased by Americans.
The price level is the average of prevailing prices across all goods and services produced in an economy. More generally, the price level refers to the price or cost of goods, services or security in the economy.
The price level has a significant impact on the purchase of goods and services, but also on the purchasing power of money. For example, if P is the amount needed to buy a specific quantity of goods and services, then one dollar can buy 1/P.
A network economy is a business economy that benefits from network effects. It is when the value of a good or service increases when others buy the same good or service.
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What will happen to the price and quantity of footballs as a result of an increase in the price of leather used to make footballs?.
Price will increase and the quantity will decrease if there is an increase in the price of leather used to make football. The correct option to this question is B.
When overall prices rise (inflation) as a result of rising costs for wages and raw materials, this phenomenon is referred to as cost-push inflation, also referred to as wage-push inflation. The total amount of production in the economy may decline as a result of higher production costs. Cost-push inflation results from the product price increases being passed on to consumers because the demand for goods hasn't changed.
Cost-push inflation is an increase in overall prices (inflation) brought on by rising labor and raw material costs. It can happen when increased production costs cause the economy's overall supply, or aggregate supply, to decline. It results from the manufacturing price increases being passed on to consumers because the demand for goods hasn't altered.
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Complete question is
What will happen to the price and quantity of footballs as a result of an increase in the price of leather used to make footballs?.
A) price will increase and quantity will increase.
B) price will increase and quantity will decrases.
C) price will decrease and quantity will increase.
D) price will not change and quantity will not change.
in order to reduce the risk that the aggregate of undetected misstatements in the group financial statements of a nonissuer exceeds the materiality for the group financial statements as a whole, an auditor should establish a
The this situation the auditor should establish a component materiality that is lower than the materiality for the group financial statements.
Financial statements:
Financial statement refers are the written records that convey the business activities and the financial performance of a company
Given,
in order to reduce the risk that the aggregate of undetected misstatements in the group financial statements of a non issuer exceeds the materiality for the group financial statements as a whole
Here we need to find an auditor should establish what type of financials statements.
While we consider the given situation, we have identified that the undetected misstatements in the group financial statements of a non issuer exceeds the materiality for the group financial statements.
So, the auditor should establish a component materiality that is lower than the materiality for the group financial statements.
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the hendersons were hoping to list their home for $400,000; however, four other comparable homes in the neighborhood just went up for sale, and they now must list their property at $380,000 to sell quickly. which economic principle is at work here?
In this case the economic principle of Competition is into action.
Here, as every other houses has low rates therefore Henderson reduced their prices to be in competition of selling their house as people would prefer low priced homes.
What is competition in business?
Competition in business is the contest between several firms selling similar goods or services. In this people, companies attempt to meet the same consumer needs and earn more revenue as people choose to buy their offering. Benefits in competition include
Helps business find its competitive advantageMakes businesses serve customers betterMakes employees more efficient:Boosts constant business developmentTypes Of Competition
Direct competitionIndirect CompetitionPotential or Replacement CompetitionHence, in this case the economic principle of Competition is into action.
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Pricing approaches that consider the production and marketing costs and then add enough to cover direct expenses, overhead, and profit are known as ______ approaches.
Answer:
The answer is Cost- oriented
southwestern foods corporation operates a packaging plant near the border between the united states and mexico. due to the location, it would be easier for southwestern to employ noncitizens. it is legal for a u.s. employer to
Southwestern foods corporation operates a packaging plant near the border between the united states and Mexico due to the location, it would be easier for southwestern to employ noncitizens.
A corporation, sometimes known as a C corporation, is a legal entity distinct from its owners. Corporations can profit, be taxed, and be held legally responsible. Corporations provide the best protection against personal liability for its employ, but they are more expensive to incorporate than alternative structures. The enterprise exists as a legal entity separate from its owners as a corporation. Most crucially, this means that the owners cannot be held liable for the corporation's debts.
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beginning in january, a person plans to deposit $100 at the end of each month into an account earning 9% compounded monthly. each year taxes must be paid on the interest earned during that year. find the interest earned during each year for the first 3 years.
The first year's interest was $33.56, the second year's interest was $109.64, and the third year's interest was 190.41$
What does it mean to earn interest?
The amount of interest earned from investments that pay the owner a regular series of required payments is known as interest earned. Investments in an interest-bearing bank account or certificate of deposit, for instance, can yield interest.
How is the annual interest earned multiplied?
Divide earnings before taxes and interest by the total interest due on debt to arrive at the TIE formula.
How is earned time interest explained?
The ability of a company to meet its debt obligations on a regular basis is measured by the Times Interest Earned (TIE) ratio. Divide a company's EBIT by its annual interest expense to arrive at this ratio.
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anita currently has 25 years of service and an average annual salary of $47,000 over her last 5 years of employment. she was looking forward to retirement but has been offered a promotion. if she continues to work for 5 more years and increases her average annual salary to $57,000, how much will her monthly pension benefit increase according to the typical pension benefit formula as described in your text?
25 years of service typical pension =23500 Promoted typical pension=32400, So the pension is increased by $10700
How does a typical pension plan work?When you have a pension plan, your employer must make regular contributions to your account. When you reach retirement age, you begin receiving monthly checks for the accrued pension. The majority of the time, a formula is used to calculate your payment. Your age, salary, and number of years working for the company are a few of the formula's inputs.
25*2%*47000=23500
30*2%*57000=34200
Anita is currently 25 years of experience so she will get the typical pension of $23500
While she was promoting for 5 years the pension should be 34200 Because she has 30 years of experience and the salary is increased
If you begin contributing to your pension at age 30, divide by two, which equals 15, to get 15. The recommended amount to contribute to your pension fund up until retirement is this portion of your pre-tax income. As an illustration, if you are 30 years old, 15% of your income should go toward pension contributions.
Therefore the typical pension increased 34200-23500= $10700
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