Express conditions are those that are specifically expressed in the contract's text and are frequently followed by phrases like "conditioned on," "if," "given that," or "when."
What is an express condition?An express condition exists when all parties concur that a specific event, or set of related events, must take place before the obligation to carry out the contract becomes due. As an illustration, suppose you were hired to draught some grant submissions for a charity organisation. Before you begin to work on creating a proposal, the organisation must first supply you with specific information, such as budgets and descriptions of its programmes. This would be an express condition that both you and the organisation agree to. Written or spoken language can be used to express situations. The first party must uphold their half of the bargain in order for the second party to fulfil theirs; otherwise, the contract may be deemed void and in breach of its specific terms.
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Supply chains for services are easier to define than supply chains for manufactured goods.
a. True
b. Flase
Supply chains for services are easier to define than supply chains for manufactured goods.
a. True
b. False
The demand curve suggests that an auto manufacturer will sell 20,000 mercedes-benz m-class vehicles when they are priced at $50,800, but when the price is reduced to $45,000, that quantity will increase to 27,000 units. What is the resulting elasticity?.
The resulting price elasticity of demand will be -3.07.
The percentage change in quantity will be:
= (27000 - 20000) / 20000 × 100
= 7000/20000 × 100
= 35%
The percentage change in price will be:
= (45000 - 50800) / 50800 × 100
= -5800/50800 × 100
= -11 417%
Therefore, the elasticity will be:
= 35% / -11.417%
= -3.07.
In conclusion, the price elasticity of demand is -3.07.
elasticity, the potential of a deformed material body to go back to its authentic form and length when the forces causing the deformation are removed. A frame with this ability is said to behave (or respond) elastically. Hooke's regulation. Elasticity refers to a degree of the sensitivity of a variable in accordance with some other variable's exchange. This way, one could measure the change in aggregate product demand with the recognition of rate adjustments. In other words, it's far referred to as elasticity of call for.
the pliancy of a cloth or substance is its capability to return to its original shape, size, and circumstance after it's been stretched. day by day facial physical games helps her to preserve the skin's elasticity.
In metals, the atomic lattice modifications length and form whilst forces are applied (energy is brought to the system). when forces are eliminated, the lattice goes back to the unique lower energy kingdom. For rubbers and other polymers, elasticity is caused by the stretching of polymer chains when forces are carried out.
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when buyers are worried that sellers know more about a product than they do, buyers tend to make purchases, which in turn creates . please choose the correct answer from the following choices, and then select the submit answer button. answer choices fewer; deadweight loss fewer; economic surplus more; economic surplus more; deadweight loss
Consumer surplus can additionally be thinking of as the wealth that alternate creates for consumers in a market.
Consumer surplus is measured in dollars.
Graphically, consumer surplus is the vicinity below the demand curve and above the equilibrium price, from zero to the volume traded.
What position do consumers play in the market and how can they affect it?Consumer spending represents the simple supply of demand for products offered in the marketplace, which is half of of what determines the market prices for items and services. The different 1/2 is primarily based on decisions businesses make about what to produce and how to produce it.
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https://brainly.com/question/13573671#SPJ4As liv golf expands to 14 events in 2023, how much money will be available to competitors in the upcoming season?.
The 2023 programme for LIV Golf will include 14 tournaments with 48 players competing on 12 well-established team franchises for an unprecedented $405 million in prize money, the circuit announced on Wednesday.
What is LIV Golf?The Public Investment Fund, Saudi Arabia's sovereign wealth fund, provides funding for the professional golf tour known as LIV Golf. The term "LIV" relates to the Roman numerals for 54, the result on a par-72 course if every hole were birdied, and the total number of holes required to complete a round at a LIV event. On June 9, 2022, at the Centurion Club outside of London, England, the first LIV Golf Invitational Series competition began. The LIV Golf League will replace the Invitational Series in 2023. The tour has been generally characterised as an effort by the Saudi monarchy, which has come under fire for its graft and violations of human rights, to boost its public image through sports washing.
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what is the effect of using fifo during a period of rising prices under a perpetual inventory system?
The FIFO technique of inventory valuation will provide the lowest cost of products sold during periods of rising prices since you are "selling" the older, lower-priced goods first.
The process of estimating an asset's or business's value is called valuation. Valuation is crucial because it tells potential buyers how much to offer for a firm or asset and tells potential sellers how much to ask for their wares. Analysts use valuation to establish the current or anticipated value of a stock, business, or asset. In order to identify promising investment candidates, valuation involves valuing a security and comparing the result to the current market price. The appraiser's identification of the appraisal issue marks the start of the valuation procedure, which concludes with their reporting of a result to you. Estimating market value is the most frequent job for an evaluation. Values that are frequently used include market value, book value, enterprise value, and stock value.
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Which of the following is least likely to contribute to going concern value? a. High liquidation value b. Extra earning powerc. Future investment opportunitiesd. Intangible assets
High liquidation value is least likely to contribute to going concern value. Thus, the right option is (a.) High liquidation value.
What is a liquidation value?The liquidation value of a firm's physical assets is the net worth of the assets if the company goes out of business and the assets are sold. The liquidation value is the amount paid for the company's real estate, fixtures, equipment, and inventory. Intangible assets are not included in a corporation's liquidation value.
Intangible assets such as a company's intellectual property, goodwill, and brand recognition are not included in the liquidation valuation. However, if a firm is sold rather than liquidated, the going-concern value is determined by both the liquidation value and the intangible assets. To decide if a company's stock is now a smart buy, value investors look at the gap between its market capitalization and its going-concern value.
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working through the channel of distribution with promotional efforts is referred to as what promotional strategy?
Push marketing refers to the process of distributing promotional materials through distribution channels.
Explain about the promotional strategy?The plan and strategies you use in your marketing plan to raise demand for your product or service are what constitute a promotion strategy. The target audience is at the center of promotional techniques, which are an essential component of the marketing mix (product, price, placement, and promotion)
The most crucial function of a promotion is to distinguish a company from its rivals. If there was no competition, no business would ever need to conduct any promotions. In order for clients to continue doing business with you, you must stay one step ahead of your rivals.
An effective sales promotion appeals to the needs, values, and emotions of your target audience using imagery, persuasive copy, and logic before presenting them with an incentive to buy your goods or services.
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Which of the following are principles of internal control?
a. Increase revenues.
b. Reduce vendor payables.
c. Perform regular and independent reviews.
d. Divide responsibility for related transactions.
e. Establish responsibilities.
f. Maintain adequate records.
Maintaining adequate records is the following principle of internal control.
Internal control is a procedure for ensuring that an organization's objectives in operational effectiveness and efficiency, accurate financial reporting, and compliance with laws, rules, and policies are met, according to the definitions of accounting and auditing.
It is a method for managing, tracking, and evaluating an organization's resources. It is crucial to the organization's efforts to identify and stop fraud as well as to safeguard its material (such as equipment and property) and intangible (such as human capital) resources (e.g., reputation or intellectual property such as trademarks).
Internal control objectives at the organizational level have to do with the accuracy of financial reporting, timely feedback on the accomplishment of operational or strategic goals, and adherence to legal requirements.
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if a perfectly competitive firm determines that mr > mc, then to increase its profit the firm will its production
if a perfectly competitive firm determines that mr >mc, then to increase its profit the firm will its production marginal revenue exceeds marginal cost.
In economics, the marginal cost is the trade inside the total cost that arises while the quantity produced is incremented, the cost of producing additional quantity. In a few contexts, it refers to an increment of 1 unit of output, and in others, it refers back to the fee of trade of general cost as output is multiplied by way of an infinitesimal amount.
As parent 1 indicates, the marginal price is measured in greenbacks according to the unit, while the general price is in dollars, and the marginal cost is the slope of the whole price, the price at which it increases with output. Marginal price is different from common cost, that's the entire value divided through the variety of units produced.
At each degree of manufacturing and time period being considered, marginal value consists of all costs that modify with the level of production, while fees that don't range with manufacturing are constant. for instance, the marginal value of producing a car will include the charges of exertions and components wanted for the additional car but now not the constant value of the manufacturing unit construction that does not trade with output.
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kumi, your coworker, has been working on his taxes for the last two months. if kumi gets a larger-than-average tax return this year, he is likely to believe that it happened because of an
Kumi, your coworker, has been working on his taxes for the last two months. if Kumi gets a larger-than-average tax return this year, he is likely to believe that it happened because of an tax program he used to prepare his taxes.
What is tax return?A tax return is a form submitted to a tax authority that reports income, expenses, and other relevant tax information. Taxpayers can use tax returns to calculate their tax liability, schedule tax payments, and request a refund of overpaid taxes.Tax returns and tax refunds are not the same thing, but they are closely related. For example, the deductions and deductions you claim on your tax return may result in more tax refunds. And if you're in a rush to get your scheduled refund, applying online well in advance of the deadline will speed up the process. A tax refund can arise from a variety of circumstances. However, the most common is when you end up paying more taxes throughout the year than you actually owe. Since the majority of taxpayers are employed, this is what happens when too much is deducted from your paycheck each week.To learn more about tax return from the given link :
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what is the best way to establish desirable team norms? seek input from non-team members. let them develop naturally. define them during the adjourning stage of development. clearly state them when the team is created. select team members with opposing values.
Discussions on norms should involve all members to assist ensure that everyone understands, accepts, and can commit to upholding them. Additionally, it aids in preventing inadvertent negative effects on team members.
What are the team norms?Team norms are standards established by the team for how its members should conduct, interact, and communicate, such as during meetings. They facilitate more effective decision-making, set clear guidelines on how each team member should behave and contribute to the group, and help new team members integrate more smoothly.
Team norms are crucial because they keep everyone on the team aware of the anticipated behavior, avoiding conflicts and misunderstandings in the process. Ask your bosses to have their staff try out this exercise:
Ask each team member to list the reasons why that team was so terrible. Request that each team member share their personal experiences with the others.They can each share their experiences in turn.Learn more about team norms with the help of the given link:
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21) warren company plans to depreciate a new building using the double declining-balance depreciation method. the building cost is $800,000. the estimated residual value of the building is $50,000 and it has an expected useful life of 25 years.
The book value of the building at the end of 1st year is $6,90,000.
The net difference between a firm's entire assets and liabilities is the book value of that company. Book value represents the total worth of a company's assets that shareholders would receive if the company were to be liquidated.
Warren Company plans to depreciate a new building using the double declining-balance depreciation method its cost is $800,000 and the estimated residual value of the building is $50,000 and it has an expected useful life of 25 years.
We need to find the annual depreciation
annual depreciation= 2*[(original cost - residual value)/estimated life (years)]
=[(800,000-50,000)/25]*2
=$60,000
Book value=$750,000-$60,000=$6,90,000.
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kayla has made her sales quota every month during the past year except for last month. when her boss conducts her performance appraisal, he focuses on this factor, rather than looking at her sales performance during the previous 11 months. this is an example of .
Kayla's boss is an example of The Recency Effect.
It is the tendency to remember the most recently present information best. For example, if you are trying to memorize a list of items, the recency effect means you are more likely to recall the items from the list that you studied last.
Why Kayla's boss is an example of The Recency Effect?
It is because her boss when conducts performance appraisal of Kayla, he only focuses on this factor (the last month sales quota). For the past year, Kayla did outperform the quota but her boss only remembered the one failure that she did last month. It means, he forgot about Kayla's performance for the 11 months and only remembered the last month's performance.
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Assume that there is an annual coupon paying bond on the market priced at $850 and that the bond comes with a face value of $1,000. The coupon rate for the bond is 15% and the bond will reach maturity in 7 years. Calculate bond's YTM?
Annual coupon = Coupon rate × face value
Annual coupon = (15 / 100) × 1000 = $150
YTM = 19.05%
Keys to use in a financial calculator:
FV 1000
PV -850
PMT 150
N 7
CPT I/Y
19.05%
Finance is crucial in strengthening business finance as it enables organizations to take risks and develop. groups should do what they desired with no monetary aid in the past. however now, with the increased use of technology and globalization, agencies are becoming more reliant on money to perform their dreams.
The term "finance" refers to financial sports that assist the lives of individuals, groups, and governments. a number of those activities encompass banking, borrowing, saving, and making an investment. Finance also refers back to the look at money and monetary equipment which can be part of a country's monetary machine.
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per-unit variable cost would be $3. if her available land has design and effective capacities of 3,000 and 2,000 rosebushes per year, respectively, and she expects to be 80 percent efficient in her use of this land, how many rosebushes does rose plan to grow each year on this land? multiple choice
Per-unit variable cost would be $3. if her available land has design and effective capacities of 3,000 and 2,000 rosebushes per year, respectively, and she expects to be 80 percent efficient in her use of this land, 2,000 rosebushes does rose plan to grow each year on this land.
What is variable cost ?Variable costs are costs incurred when the quantity of goods or services produced by a business changes. Variable cost is the sum of the marginal costs of all units produced. It can also be considered a normal expense. Fixed and variable costs form he two components of total cost. Direct costs are costs that can be easily assigned to specific cost objects. For example, variable manufacturing overhead is a variable cost that is an over rather than a direct cost. Marketing needs to know how costs are divided into variable and fixed costs. This distinction is important for predicting the revenue from various changes in sales, and therefore for predicting the financial impact of planned marketing campaigns. In a survey of nearly 200 senior marketing managers, 60% said variable and fixed cost metrics were very helpful.To learn more about variable cost from the given link :
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most stores offer rotating promotions that provide discounts on various products. however, at many of them, you must become a rewards member to take advantage of the deals. the price of the membership is free. you are probably familiar with this process at grocery stores, pharmacies, and even pet supply chains. a. identify each hurdle that shoppers must typically clear to obtain these promotional deals. taking time to fill out a form divulging personal information, such as one's age and e-mail address remembering to bring the discount card to the store or providing the clerk with your phone number b. rewards membership offerings benefit stores by enabling them to gain a unque competitive advantage, so that they can dominate the market. make sales they would not otherwise make. track data, such as buying habits, on their customers.
A. All three options are valid.
In order to avail of the discounts, a consumer needs to bring membership cards. also, a consumer needs to fill out a form that involves divulging personal information.
B. Options 1 and 1 are valid.
The membership details help a firm track various information about the consumer. It also helps the firms make additional sales. However, this advantage is not unique to the firm as other firms can easily copy this strategy.
The membership type method is the type of membership for which a man or woman applies each being a sub-class of voting Member or Non-vote casting Member. The membership type defines the advantages received by using contributors in any given club for 12 months as determined by way of the Board from time to time; sample 1Sample 2Sample three.
The club procedure was applied to invoke membership policies that examine whether a provided records set for a consumer document and the associated facts satisfy the necessities to permit the magnificence club.
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computer repair shop had received a number of complaints on the length of time it took to make repairs. the manager responded by increasing the repair staff by 10 percent. complaints on repair time quickly decreased, but then complaints on the cost of repairs suddenly increased. oddly enough, when repair costs were analyzed, the manger found that the average cost of repair had actually decreased relative to what it was before the increase in staff. what are some possible explanations for the complaints, and what actions might the manager contemplate?
The salary component of the cost would have grown as the manager added more workers. The higher repair expenses may have been a result of this. The price of repairs has risen in tandem with the daily increase in repair processes.
What is the manager contemplates?The salary component of the cost would have grown as the manager added more workers. The higher repair expenses may have been a result of this. The price of repairs has risen in tandem with the daily increase in repair processes.If the business could previously repair ten computers per day, but is now able to fix fifteen. The cost of repairing the five cars is consequently added to the overall cost of repairing the computers. It was found that the average cost of the repair had decreased when the cost of the repair was assessed. This shows that the workers' output has increased.ensuring that all products and services are comprehensive solutions to the customer's issue compatible.The client's time should not be wasted; • Providing the consumer with exactly what they wanted.Offer exactly what is required, when and when it is required.Offer exactly what is required, when and when it is required.As a result, the workshop's effectiveness has increased.Following these recommendations will have a positive impact on the company's financial statement and reduce customer concerns.To learn more about Cost of the repair refer to:
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a monopoly firm is a ______________ and faces a __________ sloping demand curve.
A monopoly firm faces a downward sloping demand curve and is a price seeker.
According to Irving Fisher, a monopoly is a market where there is "no competition," which results in a situation where a specific individual or business is the only supplier of a specific good or service. This contrasts with monopsony, which refers to a single entity's dominance of a market to buy a good or service, and oligopoly and duopoly, which consist of a small number of vendors controlling a market. Thus, the absence of viable substitutes for the good or service, the absence of economic competition for production, and the potential for a high monopoly price that is substantially beyond the seller's marginal cost and generates a high monopoly profit are the characteristics of monopolies.
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a monopolist's profit-maximizing level of production will occur:
The level of output that maximizes a monopoly's profit is when the marginal cost equals the marginal revenue.
How Is Profit Maximized in a Monopolistic Market?In a monopolistic market, a single company produces a single well. A monopolist firm's propensity to maximize profits is one of its defining characteristics. Because there is no competition in a monopolistic market, the monopolist has complete control over the price and quantity requested. The level of output where a monopoly's profit is maximized occurs when the marginal cost and marginal income are equal. On the other hand, in a market where there is competition, rivals tend to push down the marginal cost and reduce profitability.To learn more about Monopolistic Market refer to:
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which question should you prepare to answer near the end of an interview? a. do you have any questions of your own? b. what do you require for a salary? c. tell me about a time when you dealt with an ethical dilemma. d. where do you see yourself in five years?
C) You should practice your response to the question "tell me about a moment when you coped with an ethical dilemma" for use near the end of an interview.
What is an ethical conundrum?A problem in choosing between two options where neither is wholly acceptable from an ethical standpoint is known as an ethical dilemma (also known as a moral dilemma, ethical paradox, or moral conundrum). Although we encounter numerous ethical and moral issues throughout our lives, the majority of them have relatively simple fixes.
However, moral quandaries are extremely difficult problems that are impossible to resolve. Finding the best solution in these circumstances is therefore crucial for everyone. Almost every area of a person's life, including social, professional, and personal, has the potential to present an ethical dilemma.
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companies that are interested in using celebrity endorsers for their products but are worried about image problems sometimes consider blank athletes that are more low risk. multiple choice question. up and coming professional high school retired
Such companies consider Retired athletes that are at more low risk.
How do celebrity endorsement work ?
In an advertising campaign known as celebrity branding or celebrity endorsement, a well-known person is utilised to raise awareness of a good or service by their social standing in exchange for cash or other considerations. A professional athlete in any sport, such as football or athletics, might suggest a particular line of athletic shoes. The concerned athlete would then show up in commercials for shoe companies. All of their games, including practises and competitions, would be played in the same shoes. Endorsements are a type of advertising that tries to earn the public's trust, respect, or awareness and uses celebrities and prominent figures as spokespersons. Brand ambassadors are people who use their names or images to advertise a good or service.
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if addison uses the weighted average cost method, what is the inventory balance at the end of september?
Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September.
Sep. 1 Inventory . 20 units at $20
4 Sold 10 units
10 Purchased 30 units at $25
17 Sold 20 units
30 Purchased 10 units at $30
If Addison uses the weighted average cost method, The inventory balance at the end of September = $775
What is Inventory ?
Inventory refers to goods and materials that a company holds for resale, production or use.
Warehouse management is a discipline mainly concerned with determining the shape and placement of goods in a warehouse. It must precede regular and planned production and storage of materials in different parts of the factory or in several parts of the service network.
The concept of stocks, inventories or work in progress has been extended from production systems to service companies and projects, generalizing the definition to "every work included in the production process - every work that is or happened before the production process. is completed".
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the adoption of section 402a has changed the area of product liability from no liability to an almost per se standard of liability for defective products. True or False
the adoption of section 402a has changed the area of product liability from no liability to an almost per se standard of liability for defective, the above statement is true.
What is section 402A?A person who sells a product in a defective state that is unreasonably dangerous to the user or consumer or their property shall be liable for any bodily harm caused to the end-user or consumer or their property as a result.This principle states that if the goods sold are unreasonably dangerous or defective, the seller shall be liable for property damage and personal injury caused thereby.There is no obligation to warn against abuse that is so rare and unusual that it is unpredictable. The obligation to warn consumers of potential hazards poses unique challenges for manufacturers who must not only warn, but communicate it in a way that a reasonable person can find and understand.learn more about section 402A refer
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great outdoors company operates a store in downtown denver that has five departments including a fishing department. if the fishing department is closed, the store manager's position will not be affected, but if the entire store is closed, the manager will be terminated. which of the following lessons should be learned from this example?
The lessons learned from this example is that relevance of costs is context sensitive .
What is relevance?The idea of relevance is that two topics should be related in such a way that it is beneficial to take the second topic into account when taking the first. Numerous disciplines, including cognitive sciences, logic, library and information science, and others, have examined the idea of relevance. However, epistemology is where it is examined most fundamentally (the theory of knowledge). The implications of various theories of knowing for what is deemed pertinent vary, and these fundamental beliefs have repercussions for all other domains as well. The relevance of family interaction studies increases if you think that poor mother-child communication is the root of schizophrenia. The study of genes becomes important if, on the other hand, you accept the genetic explanation of relevance.
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you go to the bank and deposit $5,150. you are told that you will receive 1.75% interest. the bank loans out your money to borrowers at a rate of 6.75%. a year later, how much money has the bank made on your money?
It is stated that you will get 1.75% interest. Your funds are loaned by the bank to customers at a rate of 6.75%. A year later, the bank has made 257.50 dollars from your funds.
An interest rate is the percentage of the amount lent, deposited, or borrowed that is due in interest each period. The principal amount, interest rate, frequency of compounding, and length of time the money is lent, deposited, or borrowed determine the total amount of interest on the amount lent or borrowed. Interest is the cost of borrowing money or the fee you charge to lend it. Most frequently, interest is shown as an annual percentage of the loan amount. The interest rate for the loan is denoted by this proportion. The bank or credit union pays you interest when you have deposited in accounts. The financial institution will put those funds to work by lending them to someone else and charging them interest in exchange for those interest payments.
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professor tabarrok says that ideas are nonrivalrous, which means?
According to Professor Tabarrok, ideas are Non rivalrous, meaning that the more gains there are, the better. People may be less likely to pay for new ideas if they are used more frequently, which will lessen the incentive to develop them.
What is a good for the public, for instance?
National defense is an example of a public good. Most likely, an economist would argue that tax revenues should be used to pay for U.S. national defense because: The benefits of national defense cannot be denied to those who refuse to contribute to a fund for the purpose.
The theory that developing economies will eventually catch up to more developed economies in terms of per capita income is known as the catch-up effect. It is based on the national investment law of diminishing marginal returns and the empirical observation that growth rates tend to slow as an economy gets older.
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the idea behind comparative advantage reflects the possibility that one party quizlet
The idea behind comparative advantage reflects the possibility that one party may be able to produce something at a lower opportunity cost than another party. A lower opportunity cost results in a comparative production advantage.
What does it mean to have a lower opportunity cost?When opportunity costs are minimal, a person can take advantage of an opportunity with little sacrifice or loss of resources. When one good has a comparative advantage, another must have a comparative disadvantage. A comparative disadvantage cannot exist in every good. To have an absolute edge, one must be able to generate more of every good.
The opportunity cost of continuing to accept just cash as payment can impede the expansion of your company and reduce revenues. How rapidly a company can convert its assets into cash is known as its liquidity. Being liquid in a market enables organizations to quickly respond to new business possibilities without reducing the value of their assets.
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a perfectly competitive firm earns an economic profit when: a. price is above average variable cost. b. price is above average total cost. c. total cost exceeds total revenue. d. total variable cost exceeds total revenue.
The correct option b. price is above average total cost, best describes the perfectly competitive firm.
Define the term perfectly competitive firm?A perfectly competitive business must accept whatever equilibrium price within which it sells its products because it is a price taker.
A completely competitive business will not be able to generate any sales if it seeks to pay even a small amount above the going rate.According to economic theory, perfectly competitive exists when all businesses sell the same goods, market share has no bearing on prices, businesses can enter or quit the market without any obstacles, consumers have perfect or complete information, and businesses are unable to set prices.The closest example of ideal competition in real life may be a typical farmers' market. Small producers charge relatively similar pricing for products that are almost equivalent.Thus, in price above average total cost results in an economic profit for a perfectly competitive firm.
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the following is a partially completed lower section of a departmental expense allocation spreadsheet for brickland. it reports the total amounts of direct and indirect expenses for the four departments. purchasing department expenses are allocated to the operating departments on the basis of purchase orders. maintenance department expenses are allocated based on square footage. compute the amount of maintenance department expense to be allocated to assembly.
Service costs are expenses incurred by service departments to support the company's production departments.As a result, production departments bear the cost of the service department.
The response is "d." $20,825.
The process of determining all costs associated with developing, supporting, and delivering your service is known as service costing.Equipment, staff labor, professional fees, software, license fees, and data center charges are just a few examples of service cost components.
What is rent for service costs?
Many tenants have to pay additional expenses in addition to the basic rent that are not covered by the basic rent.Furniture, utilities like gas, water, and electricity, as well as other services, are examples of these costs, which are frequently listed as "service costs."
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the gomez family just moved into their dream home. they purchased the home for $264,985, and it appraised at $272,402. the assessment ratio for their area is 25%, and the tax rate for their area is 2.8%. what is their annual tax bill?
The gomez family just moved into their dream home. Their annual tax bill is $ 68,100 and $ 1907.
Calculating the problem:1. Ratio for their area is 25%
($272,402 x 0.25)
= $68,100
2. Times that number by 0.028
($68,100 x 0.028)
= $1907
What is tax rate?
A tax rate is a chance at which an individual or pot is tested. The civil government and numerous of the countries, uses a progressive tax rate system, in which the chance of tax charged increases as the quantum of the person's or reality's taxable income increases.
How is tax rate calculated?The most straightforward way to calculate effective tax rate is to divide the income tax expenditure by the earnings( or income earned) before levies. Tax expenditure is generally the last line item before the nethermost line — net income — on an income statement.
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