The assumption in perfect competition that there is an easy entry and exit from the market implies that firms will make a zero economic profit in the long run.
Why do firms make a zero economic profit?In a pure competition, companies are allowed to freely enter and leave.
They take advantage of this to enter a market when prices are high and economic profit is being made.
As more firms enter, the economic profit keeps decreasing as prices decrease until this profit gets to zero and then turns to economic losses.
At this point, some firms will leave the market to stop making losses. When they do, the supply will decrease which leads to prices rising once more.
The cycle will then repeat itself and keep the companies at a zero economic profit in the long run.
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One disadvantage of discretionary fiscal policy is that it can return the economy to its potential level of output but at the cost of increasing the price level.
"One disadvantage of discretionary fiscal policy is that it can return the economy to its potential level of output but at the cost of increasing the price level." This statement is TRUE.
The main limitations of discretionary fiscal policy are: (1) Information lag: Governments must have the relevant and reliable data they need to change taxes and government spending. Collecting, classifying, aggregating, and analyzing data takes a long time.
Trade-offs – Trade-offs can occur when a government adopts a combination of expansionary and contractionary fiscal policies. When a country wants to increase spending and raise more money to fuel economic growth, it can issue bonds to its citizens.
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To maximize profit, the perfectly competitive firm charges a price equal to __________ while the monopolist charges a price __________.
To maximize profit, the perfectly competitive firm charges a price equal to the marginal cost while the monopolist charges a price greater than the marginal cost.
The monopolist will select the profit-maximizing level of output where MR = MC, and then charge the price for that quantity of output as determined by the market demand curve. If that price is above average cost, the monopolist earns positive profits.
In a monopolistically competitive market, the rule for maximizing profit is to set MR = MC and the price is higher than marginal revenue, not equal to it because the demand curve is downward sloping.
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Summarize these two up-and-coming leadership positions in digital media: digital media supervisor and chief digital officer (CDO). What does each job entail
The big difference between the CIO and the Chief Digital Officer is the responsibility for turning IT into a value creator, which is something that the CIO typically doesn’t have in most organizations.
How to compare the difference?The chief digital officer is the leading digital business from the front in a way that most CIOs aren’t. It should be that most CIOs are not trying to think of new markets, new channels, or new business models that the organization should be getting and making that a top priority. .
The CIO is used to operate much larger operations. The Chief Digital Officers are very multidisciplinary, so they have a lot of different experiences, and they're very comfortable talking with marketing and sales in their language.
They’re very good at talking to the product teams in their language and operations in their language, and executives, and so on. And not to the same degree that we see the CIOs that don’t really talk the language of business .
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Answer: The big differences in the CIO and the Chief Digital Officer is this responsibility for turning IT into a value creator, being a business to the extent of actually having a P&L, which is something that the CIO typically doesn’t have in most organizations.
When a manufacturing company has a highly automated manufacturing plant producing many different products, what is probably the most appropriate basis of applying overhead costs to work-in-process
Answer: Machine Hours
Explanation:
Medical care inflation is likely to be easily overstated (if you look simply at the increase in the cost of a hospital stay) because that calculation ignores
Medical care inflation is likely to be easily overstated because that calculation ignores quality increases .
In economics, inflation is a common rise in the prices of goods and services in the economy. As general price levels rise, each currency unit buys fewer goods and services. As a result, inflation responds to a decline in the purchasing power of money. The opposite of inflation is deflation, which is a sustained decline in the general price level of goods and services. The usual measure of inflation is the inflation rate.
This is the annual rate of change of a typical price index. The Consumer Price Index (CPI) is often used for this purpose because prices do not all rise at the same rate. The Employment Cost Index (EPI) is also used for US wages.
Very high inflation and hyperinflation-which have a serious devastating impact on the real economy can be caused by the sustained overgrowth of the money supply.
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Miranda, a salesperson, plans to communicate sales messages and stories with her customers using a word picture. In order to conduct the session using a word picture, she should _____.
In order to conduct the session using a word picture, she should paint as precise and reliable a picture as possible.
Click the Format tab after selecting the image you want to crop. Pick Crop from the drop-down menu. Select the desired shape from the drop-down menu by hovering over Crop to Shape. To fit the chosen shape, the image will be cropped.Use the mouse or touchpad to choose the items you want to align while holding down Shift. Pick either the Shape Format or the Picture Format. Choose Align. If Align isn't listed on the Shape Format tab, choose Arrange first, then Align.What is Microsoft Word picture?You can add images to your document using Word, including company logos, photographs, and other images, to add interest or a more polished appearance. This article demonstrates how to insert a photo from a website.
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The cost object in a job order system is the ______ and the cost object in a process costing system is the ______. Multiple choice question. process; specific job process; department job; process or department department; process
The cost object in a job order system is the Specific Job and the cost object in a process costing system is the Process.
What Is Process Costing?
With process costing, companies determine item cost by tracking the cost of each stage in the production process, instead of tracking costs for each individual item. After adding up the cost of all the steps in the process, they divide the total cost by the number of items. This is called the cost per unit.
For example, a paper company might track the cost of each stage in the process of turning wood pulp into reams of paper, then divide the total cost by the number of reams to get the cost per ream.
What is Job Order Costing?Job order costing accumulates all costs associated with one specific job, order, or project. It is most often used for customized jobs with easily traceable costs. The job, order, or project is the cost object in job order costing. Direct materials and direct labor are traced to the individual job and manufacturing overhead is allocated to the job based on a given cost driver activity used for the job multiplied by an overhead rate. The overhead rate is found at the beginning of the period using estimated overhead costs and estimated total cost driver activity.
For example, a company manufactures custom prefabricated stairs for builders. Since each house is slightly different, each house gets measured, and each staircase has slightly different widths, rises, and runs to fit the unique home.
Hence, Job order costing is a costing system in which each product or job has traceable costs. Process costing is a costing system in which a product is mass produced, so costs are determined by equivalent units produced.
Therefore , we can conclude that the correct option is specific job, process.
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How monthly bank cash reconciliation, an internal control practice, could be useful in identifying cash embezzlement?
Bank cash reconciliation, an internal control practice, could be useful in identifying cash embezzlement as because in order to prevent and detect fraud, bank reconciliations are a crucial internal control tool.
What is Bank cash reconciliation?A bank reconciliation statement compares an entity's bank account to its financial records and describes banking and commercial activity. Statements of bank reconciliation attest to the processing of payments and the depositing of cash earnings into a bank account.
Some characteristics of bank cash reconciliation are-
By explaining the discrepancies between the cash balances in the accounting record and the bank balance position according to the bank statement, they also assist in identifying accounting and banking problems.The likelihood of errors in the data used to produce accounts is decreased by the bank reconciliation process, which makes sure that all transactions that have been recorded on the bank statements have been examined and verified.By confirming that all payments and transactions that have passed through the bank account have likewise been noted in the accounting records, bank statements also serve to assure completeness. Any variations are noted and explained.All reconciling discrepancies must be noted, and any journal entries required to correct them must be recorded no later than 90 days after the reconciliation has been completed.
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A manufacturing company incurs depreciation costs of $6,000 per month on manufacturing machinery. The depreciation cost per unit is $ when the company manufactures 2,000 units.
The depreciation cost per unit is $3.
What is the depreciation cost per unit?Depreciation is the process used to expense the cost of an asset. Depreciation is the reduction of the carrying value of an asset. Depreciation occurs as a result of the wear and tear of an asset.
The depreciation cost per unit can be determined by dividing the total deprecation by the units manufactured by the company.
The depreciation cost per unit = depreciation cost / units manufactured
$6000 / 2000 = $3
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You received a signed broker-to-broker transfer initiation form (TIF) from an established customer desiring to transfer a specifically designated part of his account to your firm, which is eligible to use the Automated Customer Account Transfer Service (ACATS). Your firm is obligated to submit the transfer instruction to the carrying member by establishing the instruction in the ACATS
Your firm must submit the transfer instruction to the carrying member through the ACATS A) Immediately.
What is the Automated Customer Account Transfer Service (ACATS)?The Automated Customer Account Transfer Service (ACATS) is a standardized and automatic system sanctioned by the Financial Industry Regulatory Authority (FINRA) that transfers financial securities in customers' accounts from one brokerage firm or bank to another.
Under the FINRA's Uniform Practice Code, a customer may transfer some or all of their securities.
Thus, the FINRA's Uniform Practice Code requires that your firm immediately forwards the TIF to the next broker.
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Question Completion with Answer Options:What does FINRA's Uniform Practice Code require?
A) Immediately.
B) within 1 business day.
C) within 3 business days.
D) within 2 business days.
Which statement supports the idea that good marketing is not an easy task? Multiple choice question. The promotion of new products is being handled by the developers of the product and not the marketing team. The number of new products that enter the marketplace each year is relatively small. Thousands of new products fail in the marketplace each year.
The idea that good marketing is not an easy task : Thousands of new products fail in the marketplace each year.
What is Marketing Objectives?The marketing objective for the introduction stage of the product life cycle is to create consumer awareness and encourage the first purchase of the new product.
Marketing Objectives includes:
These are the goals that a business is trying to achieve through its marketing.Marketing objectives are often more effective if they have a target and a time limit. For example, a marketing objective might be to increase market share by 10% in the next three years.Marketing objectives are actionable targets designed to provide not just overall direction, but clear and specific actions. They are specific, measurable, attainable, relevant, and time-based (These are often called SMART goals )
Therefore, we can conclude that the correct option is : The idea that good marketing is not an easy task Thousands of new products fail in the marketplace each year.
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Curtis williams is 69 years old. His wife, mary williams, is 67 years old. Curtis and mary plan to file a joint return. Mary is legally blind. What is curtis and mary’s standard deduction?
Curtis Williams is 69 years old. His wife, Mary Williams, is 67 years old. Curtis and Mary plan to file a joint return. Mary is legally blind. IRS provides high standard deduction to married couples who have age of 65 or above and blind or one of the partner is legally blind.
IRS states that if filling for joint return is done by married taxpayers in the year 2022 then normal standard deduction is $25,900. In this case Curtis and Mary both are over the age of 65 and Mary is blind too then as per IRS guidelines they will get $1,400 deduction per person for being above 65 plus Mary will get additional $1,400 deduction for being legally blind.
$25,900 + $1,400 + $1,400 + $1,400 = $30,100
Hence, Curtis and Mary's standard deduction is $30,100.
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it is your job to take customer orders and ensure items are in stock. it is alex's job to package and deliver those istemrs to the custmoer.
it's his job to take customer orders and make sure the items are in stock, his role is a stockist, and it's alex's job to pack and deliver these istemrs to the customer, he's a packer.
What are the functions of a stockist?A stockist is responsible for managing the stock, receiving goods and knowing where each type of product is. This professional should organize the products and separate them by categories to make it easier to find them.
What is a packer?The Packer packs, bags and boxes the goods. He also provides support by transporting products to the various areas of an establishment. In addition to checking the weight, prices and codes of the merchandise, this professional is responsible for forwarding documents, objects and serving customers.
With this information, we can conclude that his role is a stock clerk, and it is the job of packer Alex.
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Verifying a backup is also called _______________
Verifying a backup is also known as backup testing.
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Though the deferred action for childhood arrivals program, or daca, enjoys generally broad public support, the state of texas and other states filed suit against the federal government to end its protections by making which claim?.
The Federal Government to end its protections by making The creation of the program by President Obama was a constitutional overreach.
What is DACA Program?DACA is Stand For Deferred Action for Childhood Arrivals. DACA is an administrative relief that protects eligible immigrants who came to the United States when they were children from deportation.
DACA gives undocumented immigrants:
Protection from Deportation.A Work Permit.The program requires that the DACA status and work permit be renewed every two years.
The policy, an executive branch memorandum, was announced by President Barack Obama on June 15, 2012. U.S. Citizenship and Immigration Services (USCIS) began accepting applications for the program on August 15, 2012.
In November 2014, President Obama announced his intention to expand DACA to cover additional undocumented immigrants. Multiple states immediately sued to prevent the expansion, which was blocked June 23, 2016 by an evenly divided U.S. Supreme Court in United States v. Texas.
Eligibility:
To qualify for DACA, applicants must meet the following major requirements, although meeting them does not guarantee approval:
Have unlawful presence in United States after entering the country before their 16th birthday.Have lived continuously in the United States since June 15, 2007Were under age 31 on as of June 15, 2012 (born on June 16, 1981, or after).Were physically present in the United States on June 15, 2012, and at the time of making their request for consideration of deferred action with USCIS.Had no lawful status on June 15, 2012.Have completed high school or a GED, have been honorably. discharged from the armed forces, or are enrolled in school.Learn more about DACA on:
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Which of the following is LEAST likely to be considered in establishing the value of a property by the sales comparison approach
The item that is LEAST likely to be considered in establishing the value of a property by the sales comparison approach is capitalization rate.
What is capitalization rate?This is usually associated with real estate, which is the returns on investment or properties hence helps in evaluating a real estate investment. it is the percentage rate of return that a property will produce on the owner's investment.
In other words, capitalized interest refers to interest that is added to some kind of debt and that is included in current balance accounts, as opposed to waiting to figure in the cost of interest.
The capitalization rate are measures, used to estimate and compare the rates of return on multiple commercial real estates, which is calculated as the ratio between the annual rental income produced by a real estate asset to its current market value.
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The typical supply curve illustrates that: A) other things equal, the quantity supplied for a good is inversely related to the price of a good. B) other things equal, the supply of the good creates its own demand for the good. C) other things equal, the quantity supplied for a good is positively related to the price of a good. D) price and quantity supplied are unrelated.
A supply curve would most typically show that C) other things equal, the quantity supplied for a good is positively related to the price of a good.
What does a supply curve show?It shows the quantity of goods that are supplied to the market per price of the good.
Suppliers will supply more goods if prices are high in order to make more profit. The supply is therefore directly related to price.
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Martin puts his weekly paycheck into his checking account. in which column should he write the value of his paycheck?
The value of his paycheck is : Deposits.
What is Checking Account ?A checking account is a deposit account held at a financial institution that allows withdrawals and deposits.
A checking account is a bank account where members can withdraw and deposit money with ease of access. It is mostly used for bill payments and for making personal financial transactions .A checking account allows for check deposits and debit card transactions.
Money can be deposited at banks and via automated teller machines (ATMs), through direct deposit or other electronic transfer. Account holders can withdraw funds via banks and ATMs, by writing checks, or by using electronic debit or credit cards paired with their accounts.
It’s important to keep track of checking account fees, which are assessed for overdrafts. Some banks also require you to keep the account balance above a required amount.
Therefore, we can conclude that the correct option is A.
Your question is incomplete, but most probably your full question was:
Martin puts his weekly paycheck into his checking account. In which column should he write the value of his paycheck?
a. Deposits
b. Balance
c. Debit
d. Check number
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Answer:
A. Deposits
Explanation:
Did the test
E-d-gE
Sally is responsible for allocating the resources given to the team by the organization, including pay raises. What is she?
Answer:
Sally is the Human resource manager .
Explanation:
A human resource manager is responsible for the entire operations relating to human resource.
Human resource is the team that does the operations in an organization , in other words the employees .
The manager is responsible for all operations including hiring , on boarding and allocation of resources to the employees including delegation of duties .So for this case sally is responsible for all this responsibilities in her institution .
She can also be the assistant to the human resource .So many terminologies are used this days to refer to the person in charge of these , which include ; senior HR , JUNIOR HR , HR specialist and many more .
Willing to give a lot of points
Please help
Question 4 of 10
What is one of the reasons marketing is essential to the free market system?
A. It ensures that companies make a healthy profit.
B. It helps educate consumers about competitive products.
OC. It employs more people that any other career group.
D. The sales of advertising makes television programming possible.
SUBMIT
One of the reasons marketing is essential to the free market system is that It ensures that companies make a healthy profit.
What is free market?A free market is a market structure where there is no interference from government but forces of demand and supply controls it.
With regards to the above, marketing ensures that products gets to the target audience to attract sales, thereby increase profits.
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You have an opportunity to buy either shares of common stock or shares of convertible preferred stock, for the same company. The Preferred stock is convertible to a set number of shares of common stock. All other things equal, would you consider buying the convertible preferred stock
YES, I would consider buying the convertible preferred stock.
The possible advantages to buying convertible preferred stock, and points to support the above decision are summarised below:
Double Benefit: Convertible Preferred Shareholders receive the benefit of General Preferred Stock until the point of conversion. Upon conversion, holders will receive all profits of the common stock.
Preference Over Common Shareholders: Preferred shareholders have priority over common shareholders with respect to the payment of dividends. In other words, common stockholders do not receive dividends unless preferred stockholders are paid dividends first.
>Fixed Dividend Income: Typically, the dividend rate is predefined and fixed to the preferred shareholders, with no uncertainty about the income received. For example, preferred stock is issued at a dividend rate of "2%..." or "$2 per share".
> Ordinary Income: Preferred shareholders receive regular dividend income even if no profits are distributed. Delinquency in dividends is cumulative (for cumulative preferred stock) if there is a shortfall in earnings. But common stocks don't pay dividends unless they make a profit.
> Low Risk: The amount of dividend income and payouts are fixed, so the risk is significantly lower than common stock.
> Benefits of conversion into common stock: Once these shares are converted, holders are entitled to voting rights, increased earnings, and investment growth as the common stock enjoys these benefits.
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How do human weaknesses complicate decision-making, according to hamilton?
The outcome of a careful assessment of various possibilities in terms of the likelihood and worth of outcomes connected with these options, human decision making is frequently examined. The normative theory based on these premises that is arguably the most popular is the subjective expected utility theory.
In order to better understand the cognitive processes that underpin human judgement and decision making, a significant amount of research focuses on systematic violations of these rationality rules. Heuristics are cognitive shortcuts that people employ while making decisions, according to research on them.
Following a quick description of the most crucial heuristics, information on more descriptive decision-making techniques is provided Prospect theory, image theory, rule following, and reason-based choice are a few examples.
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If people have a high degree of _______ one is more likely to want to stay with their current company.
If people have a high degree of organizational commitment one is more likely to want to stay with their current company.
Organizational commitment means the connection or the bond that the employees have with their organization or the employer. It all depends upon their psychology that more attachment they have with their employer or the organization more will they want to stay in it.
It defines different variables such as the job performance of the employees, turnover of the company or the employee employer relationship.
A model of commitment was given by Meyer and Allen in which they defined three types of commitment:
Affective commitment
Continuance commitment
Normative commitment.
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Adding or deleting features and functions from an existing product platform is: Group of answer choices A high-end strategy. The optional-pricing strategy. A low-end strategy. A promotional strategy. All of these answers are correct.
b. The optional pricing strategy (O.P.)
More about optional pricing:
When a company uses optional product pricing, it sets a base product at a lower cost and additional, optional products at a higher price to make up for any losses. Optional products are not required for the base product to function, but they typically improve the customer experience.
The two key components of optional product pricing:
A base product is the main draw for the customer or the reason they are purchasing. It meets the needs of the customer and does not require the optional product to function.A complimentary product(s): A product that a customer who purchased the base product is likely to purchase in order to improve their experience with the base product.Learn more about pricing here:
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Fixed costs (such as property taxes, insurance, depreciation, etc.) are costs that _____________________ .
Fixed costs (such as property taxes, insurance, depreciation, etc.) are costs that remain the same regardless of the output.
The term fixed cost refers to that cost which does not change with any increase or decrease in the number of goods or services produced or sold in the organization.
Fixed costs are those expenses which are paid by any company, whether it is independent or not of any specific business activities. This means that fixed costs are generally indirect in nature , it means that they don't apply to the production of company's goods or services.
Companies can usually have two types of costs—fixed or variable costs—which together result in their total costs.
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On october 4, 2020, concord company had credit sales transactions of $3300 from merchandise having cost $2600. the entries to record the day’s credit transactions include a:______.
On October 4, 2020, concord company had credit sales transactions of $3300 from merchandise having cost $2600. the entries to record the day’s credit transactions include a credit of $3,300 to Sales.
The term "credit sale" refers to the transfer of ownership of goods and services to a customer where the amount due is paid at a later date. In other words, a credit sale is a purchase resulting from the customer not paying in full at the time of purchase.
For example, if a parts company sells its widgets to a customer on credit and the customer agrees to pay for one month, the parts company will essentially provide offer the customer an interest-free loan equal to the purchase amount. Your credit sales journal entry will debit your accounts receivable with the amount credited by the customer.
Additionally, you will credit the sales tax payable and the revenue account. Selling credits are payments that are not made until days or weeks after product delivery. Short-term credit agreements appear on a company's balance sheet as accounts receivable and are different from immediate cash payments.
There are three main types of sales transactions: cash sales, credit sales, and prepaid sales. The difference between these purchases is simply when the money is received.
1. Cash sales: Cash is collected when a sale is made and the goods or services are delivered to the customer.
2. Sales on credit: The customer has a period after the sale is made to pay the seller.
3. Prepaid Sales: The customer pays the merchant in advance before the sale is made.
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Company managers should give serious consideration to changing from a low-cost /low price strategy for branded footwear to a different strategy when
Company managers should give serious consideration to changing from a low-cost /low price strategy for branded footwear to a different strategy when competition is high among competitors.
Who are competitors?Competitors are individual or people that sell similar products and commodities.
They can be wholesaler or retailers and are usually present in all business.
When there are competitors new strategy should be developed to help get enough sales such that the individual or company do not fall out of sales or market
Therefore,
Company managers should give serious consideration to changing from a low-cost /low price strategy for branded footwear to a different strategy when there is competition.
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Which of these items is detrimental to the seller's bargaining position in the purchase contract during contract negotiations
The items that are detrimental to the seller's bargaining position in the purchase contract during contract negotiations are:
Credit terms and delivery terms and conditionsHow complaints will be resolvedDelivery schedulesHow the furniture will be designedThis is further explained below.
What are negotiations?Generally, When there is a breakdown in communication, the term "negotiation of meaning" is used to describe the effort that must be done by interlocutors in order to come to an agreement with one another.
In conclusion, During the negotiating process for the purchase contract, the following are some of the factors that work against the seller's ability to strike a favorable deal:
Conditions pertaining to both credit and delivery may be found here.How concerns will be addressed and resolvedThe delivery timetablesThe manner in which the furniture will be fashioned.Read more about negotiations
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Andrew Industries purchased $160,000 of raw materials on account during the month of March. The beginning Raw Materials Inventory balance was $21,000, and the materials used to complete jobs during the month were $136,500 of direct materials and $12,500 of indirect materials. What is the ending Raw Materials Inventory balance for March
The Ending Raw Materials Inventory for Andrew Industries will be:
32,000
HOW TO CALCULATE ENDING RAW MATERIALS?
We will use the Inventory identifier formula to solve for ending inventory
Beginning Inventory + Purchase = Ending Inventory + Used.
⇒21,000 + 160,000 = Ending Inventory + Used.
Used materials
Direct Used Materials = 136,500
Indirect Used Materials = 12,500
Total Used Materials = 149,000
Now we know,
21,000 + 160,000 = Ending Inventory + 149,000
⇒ 181,000 - 149,000 = 32,000
Therefore, Ending Inventory = $32,000.
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The following graph represents the demand and supply for pinckneys (an imaginary product). The black point (plus symbol) indicates the pre-tax equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (star symbol) indicate the after-tax scenario.
The Deadweight loss and Producer surplus after the tax is imposed mathematically are given as
D= C + EPS=FWhat is Deadweight Loss?Generally, the equation for "Before the tax is levied, there is a consumer surplus." is mathematically given as
X = A + B + C
and Before the tax was implemented, the total well-being
Y= A + B + C + D + E + F
Total well-being after the imposition of the tax
Z = A + B + D + F
In conclusion, Deadweight loss
D = Y-Z
D= (A + B + C + D + E + F ) - ( A + B + D +F)
D= C + E
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