Non-value-added activities in a process design can be eliminated by using value stream mapping.
In chemical engineering, process design is the selection and ordering of units for the desired physical and/or chemical transformation of a material.
Process design is at the heart of chemical engineering and can be considered the pinnacle of the field, bringing together all the components of the field. Process design is at the heart of operations management (OM). It is the process of creating and improving systems that convert the input to output. Process design involves understanding how work is done in an organization, and then designing and implementing ways to improve it.Learn more about process design here: https://brainly.com/question/16952977
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a company has an unfavorable direct materials quantity variance. a possible reason for this variance is that:
A company had an unfavorable direct materials quantity variance, a possible reason for this variance is that as compared to expectations, the production department worked fewer hours.
The management is focused on areas where corrective action can help control operations by using flexible budget performance reports. A favorable variance, where actual costs are lower than standard costs, is the opposite of an unfavorable variance. An unfavorable variance in manufacturing could be caused by rising direct material costs or ineffective operations within the production facility.
An unfavorable material price variance happens when the actual cost of the materials is higher than the average cost. On the other hand, a favorable material price variance occurs when the actual price paid for the materials is lower than the standard price. When actual revenues fall short of what was anticipated, this is referred to as a negative budget variance.
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oxford corporation has four categories of overhead. the expected overhead costs for each category for next year are as follows: maintenance $210,000 materials handling 90,000 setups 75,000 inspection 150,000 the company has been asked to submit a bid for a proposed job. the plant manager believes that obtaining this job would result in new business in future years. bids are usually based upon full manufacturing cost plus 30 percent. estimates for the proposed job are as follows: direct materials $5,000 direct labor (375 hours) $7,500 number of material moves 4 number of inspections 3 number of setups 2 number of machine-hours 150 expected activity for the four activity-based cost drivers that would be used is: machine-hours 10,000 material moves 2,000 setups 100 quality inspections 4,000 required: a. determine the amount of overhead that would be allocated to the proposed job if 20,000 direct labor-hours are used as the volume-based cost driver. determine the total costs of the proposed job. determine the company's bid, if the bid is based upon full manufacturing cost plus 30 percent. (round amounts to 2 decimal places.) b. determine the amount of overhead that would be applied to the proposed project if activity-based costing is used. determine the total costs of the proposed job if activity-based costing is used. determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent. (round amounts to 2 decimal places.) c. which product costing method produces the more competitive bid?
If 20,000 direct labor hours are utilized as the volume-based cost driver, the amount of overhead that would be assigned to the proposed job is $43,493.75
What does the overhead rate mean?The overhead rate is the cost involved in producing a good or service. The cost of the corporate headquarters is an example of an overhead expense that isn't directly tied to output.
An overhead rate is applied to the direct production-related costs in order to disperse or allocate the overhead costs based on specific indicators.
Calculation:
A) manufacturing overhead rate that is fixed = total estimated overhead costs for the period/ total amount of allocation base
manufacturing overhead rate that is fixed = 2,325,000 / 20,000
manufacturing overhead rate that is fixed = $116.25 per direct labor hour
Now,
Total cost= 5,000 + 7,500 + 43,493.75
Total cost= $55,993.75
Therefore, the suggested job will cost $55,993.75 in total.
Also,
Selling price= 55,993.75 * 1.3
Selling price= $72,791.88
Therefore, the company's bid, which is based on full manufacturing cost plus 30% and activity-based costing, is $72,791.88.
B) We must first determine the activities rate:
Maintenance is equal to 210,000/10000, or $21 per machine hour.
Material handling: 90 000 / 2,000 = $45 per each transport of material
Setups= 75,000 / 100= $750 per setup
Inspection= 150,000 / 4,000= $37.5 per inspection
We can now assign overhead:
Maintenance= 21*150= 3,150
Materials handling= 45*4= 180
Setups= 750*2= 1,500
Inspection= 37.5*3= 112.5
Total allocated costs= $4,942.5
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consumers union, in an attempt to get information about u.s. adults, asked all subscribers whether they had used alternative medical treatments and, if so, whether they had benefited from them. for almost all of the treatments, approximately 20% of those responding reported cures or substantial improvement in their condition. they received replies from 12% of their subscribers. identify the sampling method, including whether or not randomization was used. choose all that apply. responses bias bias systematic systematic cluster cluster undercoverage undercoverage census census variability variability convenience convenience randomization was used randomization was used multistage multistage randomization was not used randomization was not used stratified stratified
Population: All U.S. adults
Population parameter: proportion who have used and benefited from alternative medicine
Sampling Frame: all Consumers Union subscribers
Sample: those who responded
What is sampling frame ?A sampling frame is a list from which sampling units are extracted.. A "list" may be an actual list of entities, such as a phone book, from which phone numbers are extracted, or some other description of a population such as: B. The map from which the area was retrieved. Non-probabilistic sampling involves non-random selection based on convenience or other criteria for
easy data collection....probabilistic sampling A simple random sample. ...Systematic sampling. ...Stratified sample. ... Village extraction.learn more about sampling frame here :
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stacy is unmarried and has three children, ages 5, 8 and 12, that qualify for the child tax credit. her agi for the current year is $97,000. the amount of her child tax credit is $
Stacy is unmarried and has three children, ages 5, 8 and 12, that qualify for the child tax credit. Her AGI for the current year 2021 is $97,000. The amount of her child tax credit in 2021 is $ 9,600
Taxes are obligatory contributions levied on people or agencies through a central authority entity—whether neighborhood, regional, or national. Tax sales finance authorities activities, along with public works and offerings inclusive of roads and colleges, or applications along with Social security and Medicare.
Examples include widespread and selective income taxes, value-added taxes (VAT), taxes on any element of manufacturing or manufacturing, taxes on prison transactions, and customs or import responsibilities. fashionable income taxes are levies which might be applied to a full-size part of patron costs.
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the entry a company uses to journalize pension rights that have not been funded for its salaried employees at the end of the year is
The entry a company uses to journalize pension rights for its salaried employees at the end of the year is debit pension expenses; credit cash.
A pension is a fund into that a total of services is added all the while a member's hiring age and from what or in which place fees are tense to support the character's retreat from introducing the form of routine fees. A pension plan is a bonus plan settled or claimed by an employer or by an agent arranging (in the way that a merger), or two together, that specifies social welfare program or defers revenue as far as the end of enclosed contracting or further.
A Cash credit (CC) is a temporary beginning of payment for an association. In other words, a cash credit is a temporary loan lengthened to a guest by a bank. It authorizes a guest to retract services from a checking account outside consistency a credit balance. A cash credit reduces the funding cost of the purchaser, as the interest loaded is only on the employed amount or minimum assurance charge.
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the marketing director for a manufacturer of half-size home appliances wants information about the number of single-family households in a certain city. the budget is very small. it makes sense for the marketing director to gather this information by:
The marketing director for a manufacturer of half-size home appliances wants information . It makes sense for her to gather this information by: reviewing census information available on the Internet.
What is meant by marketing director?A Marketing Director is a professional who's in charge of managing all aspects related to the product and perpetration of any given campaign. They are responsible for strategizing and assaying and leading their team while making sure everything runs easily from launch to finish with guests or associates likewise.
Why is marketing so important?The significance of marketing for your business is that it makes the guests apprehensive of your products or services, engages them, and helps them make the buying decision. likewise, a marketing plan, a part of your business plan helps in creating and maintaining demand, applicability, character, competition, etc
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a(n) lists the major project tasks and the name of the person, organization, or subcontractor responsible for the achievement of each task.
Responsibility matrix the major project tasks and the name of the person, organization, or subcontractor responsible for the achievement of each task.
To put it simply, a project is a collection of tasks that must be finished in order to achieve a particular goal. A set of inputs and outputs needed to accomplish a specific objective can also be referred to as a project.
Achieving something with a lot of skill or effort is a great accomplishment. Achieve and achievement frequently imply the accomplishment of a significant or challenging task—a lofty goal or a great so feat. High school graduation is an accomplishment. It is an achievement to learn a new language. One person or one hundred people can manage a project, which can be simple or complex.
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interval: monthly on day 1st of every 1 month(s). start date: 01/01/2026. end: after 12 occurrences. answer: a. an unscheduled journal entry b. recording uncollectable receivables c. logging the usage of a prepaid service d. setup of a recurring transfer
The correct option is to set up a recurring transfer.
Explanation: It is clear from the first column, "interval," and the duration column [start date and End] that this arrangement is for periodic or recurring transfer.
Why are the other alternatives incorrect?
A. It is not an unscheduled entry because the interval time, beginning date, and period are fixed.
B. There are no fixed periodic intervals for uncollectible receivables.
C. The use of a prepaid service that does not necessarily have fixed period intervals.
Recurring transfer-A recurring transfer is a transfer or Basic Payment that is scheduled at regular intervals for a fixed amount. 1. A recurring transfer is one that is made for the same amount on the same date on a weekly, bi-monthly, or monthly basis, for example.
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skysong realty corporation purchased a tract of unimproved land for $55,000. this land was improved and subdivided into building lots at an additional cost of $34,460. these building lots were all of the same size but owing to differences in location were offered for sale at different prices as follows. group 1 2 3 no. of lots 9 15 17 price per lot $3,000 4,000 2,400 a operating expenses for the year allocated to this project total $18.200. lots unsold at the year-end were as follows. group 1 group 2 group 3 4 lots 6 lots 1 lots at the end of the fiscal year skysong realty corporation instructs you to arrive at the net income realized on this operation to date.
Answer:
Whats the question?
Explanation:
Question 7 a restaurant wants to gather data about a new dish by giving out free samples and asking for feedback. Who should the restaurant give samples to?.
As the restaurant wants to gather data about a new dish by giving out free samples and asking for feedback, the people that the restaurant should give the samples to are the customers.
What are samples?In research. a sample means the group of people, objects, or items that are taken from a larger population for measurement. The sample are expected to be the representative of the population to ensure that we can generalize the findings from the research sample to the population as a whole.
The samples collected from the customers, will allow the restaurant to gather data about the new dish.
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A company needs construction equipment to complete a project over the next 20 months. The equipment costs $10,000. Instead of purchasing the equipment with a 12% note, the company leases the equipment with payments of $300 due at the end of each month. For what amount would the company record the lease liability at the beginning of the lease?.
The amount that the company would record the lease liability at the beginning of the lease is $5, 414
How to find the lease liability?When a payment is a constant amount and is made after constant periods, it is called an annuity. The lease payments on the equipment are a constant amount of $300 and happen every month. This is therefore an annuity.
The amount that would be recorded as lease liability would then be the present value of this annuity payment.
First, find the periodic rate on the note because the payments are monthly:
= 12% / 12 months in a year
= 1%
The present value of the payments and the lease liability is:
= Lease payments x Present value interest factor of annuity, 1%, 20 periods
= 300 x 18.04555
= $5, 414
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connor runs a small business and is interested in exporting his product to ireland, but he needs some advice on the legal issues this would entail. which organization would provide him with a free initial consultation for his legal questions?
ELAN organization would provide him with a free initial consultation for his legal questions.
What is ELAN?A network of more than 60 organizations known as ELAN works to ensure that residents of London can seek information about and defend their employment rights and obligations.
ELAN supports ad hoc training while working together to support the provision of advice services through pro bono networks.
ELAN welcomes members and other organizations to exchange knowledge and solutions to help with the provision of employment advice.
Through a mentoring program, ELAN encourages the linking of volunteers with ELAN members.
ELAN participates in government consultations and coordinates initiatives with other organizations to inform the formulation of policies pertaining to workers' rights.
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Which of the following are reasons a small business might choose the SIMPLE over a Section 401(k) plan?
A) The employer expects that it could not satisfy the Section 401(k) nondiscrimination test.
B) Because a SIMPLE is less costly to operate, it is generally the better choice if the employer is not concerned about the design constraints of the plan.
C) A Section 401(k) plan would be top heavy (benefits for key employees will exceed 60% of total benefits), and the employer wants to minimize employer contributions.
D) All of these are reasons.
The correct answer is (d), all the mention point are important for considering SIMPLE over section 401 (k).
The correct answers are:
Because a SIMPLE is less costly to operate, it is generally the better choice if the employer is not concerned about the design constraints of the plan.The employer expects that it could not satisfy the Section 401(k) nondiscrimination test.If a Section 401(k) plan would be top heavy (benefits for key employees will exceed 60% of total benefits), and the employer wants to minimize employer contributions.Retirement savings accounts known as section 401(k)s are provided by small company employers having 100 or less employees. Employees can choose to contribute a portion of their pay to the plan, and employers are required to match or non-electively contribute a significant proportion of each employee's pay.
The Internal Revenue Service (IRS) has established contribution limit caps and certain qualification restrictions for employers who want to create these plans.
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when sam increases smoothie production from 4 gallons to 5 gallons, his total cost of production increases from $32.50 to $36.85. calculate sam's marginal cost of producing smoothies.
Sam's marginal cost of producing smoothies is $4.35.
What is marginal cost?
The difference in total production costs caused by creating or producing one extra unit is known as the marginal cost in economics. To calculate marginal cost, divide this same variation in production costs even by variation in quantity. Finding the point at which an organisation can achieve scale economies to improve production as well as overall operations is the goal of marginal cost analysis. The producer may make money if the cost of producing one extra unit is less than the price per unit. The total costs involved in producing an additional good are what is referred to as the marginal cost. Therefore, it can be evaluated by changes in the costs associated with each additional unit.
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what are two ways trade barriers hamper a firm's productive activities? multiple select question. they increase the ability to operate at full capacity. they limit imports a firm may need. quotas limit the ability to serve a country from outside locales. they raise the cost of exporting products.
The two ways trade barriers that hamper a firm's productive activities are:
They raise the cost of exporting products.
The quotas limit the ability to serve a country from outside locales.
What are trade barriers?Any law or policy, including tariffs, quotas, licenses, and other restrictions on international trade, is referred to as a trade barrier. A tariff, sometimes known as an import tax, is the most prevalent trade barrier. Due to tariffs, imported items are more expensive than domestic ones (goods produced at home). Subsidies make it less expensive to produce certain items than it would be to export them. The government places restrictions on international trade.
According to the comparative advantage theory, trade barriers hurt the world economy and lower overall economic efficiency. Tariffs and other trade restrictions raise the price of goods and services for American businesses and consumers while reducing their supply, which has resulted in lower income, fewer jobs, and decreased economic production.
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a. january 1loaned $50,000 to cashiers of the company and received back one-year,8 percent notes.b. june 30accrued interest on the notes.c. december 31received interest on the notes. (no interest has been recorded since june 30.)d. december 31received principal on the notes. required:
The journal entries for the followings are shown below:
The journal entry will be:
a. On Jan 1 .
Loan A/c. ..Dr $50,000
Cash A/c....Cr.$50,000
Being the loan is cashed of the company
b. On June 30
Interest receivable A/c.. Dr. $2,500
Interest Revenue A/c.. .Cr. $2,500
Being interest accrued on the note
c. On Dec 31
Cash A/c.....Dr $5,000
Interest receivable Alc..Cr $2,500
Interest revenue A/c. .Cr $2,500
Being interest received on the note
d. Cash A/c...Dr $50,000
Loan A/C....Cr $50,000
Being received principal on the note, Working Note:
Interest Amount x 10% x 6/ 12
Interest $50,000 x 10% x 6/12
Interest=$2,500
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paul's employer has established an informally funded deferred-compensation plan and has purchased a 20-payment whole life policy on paul's life. to assure the annual premium is excludible from paul's taxable income, paul's status should be that of:
Paul's status should be that of a irrevocably designated beneficiary of the policy of deferred-compensation plan
What is a deferred-compensation plan?A situation in which a portion of an employee's salary is paid out at a later time than the money was earned is known as deferred compensation. Pensions, retirement programmes, and employee stock options are a few examples of deferred compensation. An employee can use deferred compensation to save money aside for pay at a later time. You should also be aware that any monies in a non-qualified deferred compensation plan are not shielded from creditors if your company declares bankruptcy. In most cases, taxes on the profit are deferred until after it is distributed. The several types of deferred compensation include stock option programmes, contingency plans, and insurance schemes.
Hence, Paul's status should be that of a irrevocably designated beneficiary of the policy of deferred-compensation plan
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how do smart factories differ from other manufacturing technologies? how might the transformation to a smart factory change how a manufacturing organization hires and trains employees?
Many businesses are quickly adopting lean manufacturing and smart factories. The organisational design is where this differs fundamentally from conventional manufacturing technologies.
What is manufacturing technologies?
The industrial world of today features a number of manufacturing technology advancements that were science fiction even 15 or 20 years ago. The most potent technology ever seen in the manufacturing industry is being created by improvements in communication speeds, data analysis, and automation.
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What is the difference between having a co-signer and becoming an authorized user?.
At the same time as an authorized user has the capability to make purchases, a co-signer does not. “A co-signer is a person who pays the stability or debt if the primary cardholder fails to pay it off,” says Ross.
A co-signer is a person who is of the same opinion to be legally responsible to pay a debt if the borrower does not pay again a loan as agreed. A co-signer can be an choice if you are attempting to make a large purchase, including an automobile, and in case you are not able to qualify for the loan in your personal.
A co-signer takes full duty for paying returned a mortgage, at the side of the primary borrower. frequently a co-signer could be a member of the family. The co-signer is obligated to pay any neglected payments or even the whole amount of the loan if the borrower would not pay.
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the idea that nominal variables are heavily influenced by the quantity of money and that money is largely irrelevant for understanding the determinants of real variables is explained by the a. classical dichotomy. b. mankiw effect. c. velocity concept. d. fisher effect.
The concept that nominal variables are considerably influenced by the amount of money and that money is largely irrelevant for understanding the determinants of real variables is explained by the 'classical dichotomy'. Thus, option A 'classical dichotomy' is the correct answer.
The classical dichotomy is referred to an assumption that states, in the long run, the nominal economy is entirely separate from the real economy. This reflects that in the long run, money and nominal prices have no impacts on the real variables such as real GDP. The classical dichotomy describes that changes in the money supply have no effect on the velocity of money or the level of output.
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unlike perfectly competitive markets, health insurance and health care markets are characterized by asymmetric information in many forms. to see the consequences, consider the following scenario: the population is evenly divided between 2 types of people: healthy people and unhealthy people. healthy people have expected health care costs of $1000 per year. unhealthy people have expected health care costs of $5000 per year. unhealthy people can become healthy by working out, eating healthier, and taking preventive care. assume that the cost of becoming healthy in terms of time and effort is $2000 per year. these people live in a city with one employer who will hire anyone who is willing to work. this employer provides complete health care to all its employees; all health care costs are covered by the insurance. do the unhealthy employees have an incentive to become healthy? no there is not enough information to tell. yes what is the actuarial fair cost of insurance for all the workers? actuarially fair cost: $ suppose a new employer that pays $1500 more in wages per worker but does not offer any insurance (and there is no market for health insurance) enters the market. which people will go and work for the new employer? none the unhealthy both groups the healthy what would the new actuarially fair cost of insurance be at the original firm? new actuarially fair cost: $
No, unwell workers lack the motivation to get better. This is so because the city's sole employer hires everyone regardless of health. Additionally, the insurance handles and manages their medical expenses.
What would the original company's new actuarially fair insurance cost be?
It is possible to calculate the new actuarially fair cost of insurance by combining the likelihood of healthy and unhealthy employees with the associated medical expenses.
However, assuming that the new employer employed only healthy individuals, it implies that the old employer only employed unhealthy individuals, and the new actuarially fair cost of insurance can be calculated as follows:
∴ Insurance Actuarial Fair Cost = Probability ( Healthy employee × cost of health) + Probability (unhealthy employee × cost of health)
Insurance Actuarial Fair Cost = (0 × $1000) + (1 × $5000)
Insurance Actuarial Fair Cost = $5000
Therefore, for the original company, the new actuarially reasonable cost of insurance would be $5000.
What is the actuarial fair insurance cost for each employee?
The entire amount of required payouts for both the healthy and unwell employees are referred to as the "actuarial fair cost of insurance for all the workers."
Insurance Actuarial Fair Cost = Probability ( Healthy employee × cost of health) + Probability (unhealthy employee × cost of health)
Insurance Actuarial Fair Cost = [tex](\frac{1}{2} + 1000) + (\frac{1}{2} + 5000)[/tex]
Insurance Actuarial Fair Cost = $500 + $2500
Insurance Actuarial Fair Cost = $3000
Consequently, $3000 would be the actuarial fair cost of insurance for each employee.
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true or false: positive short-run profit can occur as a result of advertising in a monopolistically competitive market. true false
Positive short-run profit can occur as a result of advertising in a monopolistically competitive market is true
What is short-run profit ?A monopolistically competitive company optimizes profits or minimizes losses in the short run by producing the amount where marginal revenue equals marginal cost. The company will make an economic profit if the average total cost is lower than the market price.Short-term economic gains will draw rival businesses, and prices will inevitably decrease. Similar to how financial setbacks may force businesses to leave the market and drive up costs Until a long-term balance is found, these events will persist.When a company chooses to produce at the level where its marginal revenue matches its marginal cost, it maximizes its short-term earnings. When marginal revenue exceeds marginal cost, the business can increase output and make more money.To learn more about short-run profit refer to:
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companies that purchase ________ software can use it in their operations but cannot change the source code themselves.
Companies that purchase Proprietary software can use it in their operations but cannot change the source code themselves.
Software is a set of instructions, information, or programs accustomed operate computers and executing specific tasks. it's the alternative to hardware, that describes the physical aspects of a computer. computer code may be a generic term used to talk about applications, scripts, and programs that run on a device.
Software not only makes your element perform important tasks but, can even facilitate your business work additional efficiently. the correct software can even cause new ways in which of working. it's so a vital business plus and you ought to opt for your software rigorously in order that it matches your business needs. Your system has 3 basic sorts of software: application programs, device drivers, and in-operation systems.
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If accounting profits equal $10 million for a firm and the owners could likely earn $7 million in a similar business, the firm’s economic profit is ________.
If accounting profits equal $10 million for firm and the owners could likely earn $7 million in similar business, the firm’s economic profit is increasing.
What is profit?The revenue from an economic entity's outputs less the opportunity costs of its inputs is what is known as a profit. Total revenue less total expenses, which includes both direct and indirect expenses, is what this term refers to. Unlike accounting profit, it solely pertains to the costs that are explicitly stated in a company's financial statements. The total revenue of the company less solely its explicit costs is how an accountant calculates the accounting profit of the company. When examining a corporation, an economist considers all opportunity costs, both explicit and implicit. Economic profit therefore falls short of accounting profit. The overall revenue must exceed the opportunity cost for a business to be profitable from an economics perspective. The two terms "normal profit" and "economic profit" are frequently used interchangeably.
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Do you shop online? What kinds of things do you buy online?
In the era of ever-improving technology, almost all consumers shop online. Also, almost every stuff is bought in an online shop. According to the research, clothing is the most popular item to buy online. Books, electronics, cosmetics, and food came after that.
Online shopping is the process through which customers purchase goods and items from sellers over the internet. The fundamental idea is that it is e-commerce that uses the internet in part. People like shop online since it's convenient and easy to bargain, which has helped it gain popularity over time. It helped consumer to buy things without go to the store, it doesn't waste time, it's easy to do, and lots of discounts are given.
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bill buyer does inspections on property he is buying and finds all to be in order. the inspection objection deadline passes. two days later bill gets cold feet and sends sam seller a notice that bill wants to terminate the contract. what is the result?
Prior to closing, Bill is free to withdraw, but doing so will result in the loss of his earnest money deposit.
When is the advance payment deposit typically applied on a settlements statement at closing?Earnest money is often delivered at the time when the sales contract or purchase agreement is signed, although it can also be included with the offer. After being received, the money is normally kept in an escrow account until closing, when it is used to cover the buyer's down payment and closing expenses.
How can a buyer determine how much cash to bring to the closing?The main technique for determining your cash to close is quite straightforward. The majority of what you need to close on a mortgage is your down payment plus your closing expenses, less any seller credits or earnest money you've already paid.
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you need to have $30,750 in 5 years. you can earn an annual interest rate of 6 percent for the first 3 years, and 6.6 percent for the next 2 years. how much do you have to deposit today?
You must deposit $14887.26 today. An APR is a figure that, when presented as a percentage of the principal loan amount, sums up the annual cost of borrowing all in one go.
Find the annual rate of interest?
An APR is a figure that, when presented as a percentage of the principal loan amount, sums up the annual cost of borrowing all in one go. The APR on a loan or credit card seeks to provide a thorough picture of how much borrowing money will cost.
APR is equal to ((Fees + Interest Principal n) 3 6 5) 1 0 0), where: Principal = Loan Amount n = Number of Days in Loan Term beginaligned &textAPR = left (left (left (frac frac textFees+textInterest text Principal n right) times 365 right...
A=P(1+r/100)n is explained as follows: A=future value, P=present value, r=rate of interest, and n=time period.
30750=P*(1.06)^3*(1.066)^2*(1.073)^6 \s 30750=P*2.065524435 \s P=30750/2.065524435 \s =$14887.26 .
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The first sushi restaurant opens in town. Initially people are very cautious about eating tiny portions of raw fish, as this is a town where large portions of grilled meat have always been popular. Soon, however, an influential health report warns consumers against grilled meat and suggests that they increase their consumption of fish, especially raw fish. The sushi restaurant becomes very popular and its profit increases.
a. What will happen to the short-run profit of the sushi restaurant? What will happen to the number of sushi restaurants in town in the long run? Will the first sushi restaurant be able to sustain its short-run profit over the long run? Explain your answers. b. Local steakhouses suffer from the popularity of sushi and start incurring losses. What will happen to the number of steakhouses in town in the long run? Explain your answer. c. Does the market for sushi restaurants fit the characteristics of perfect competition? Explain.
The number of sushi restaurants will increase in the town causing the equilibrium price to increase.
a)Warning against grilled meat will shift the consumers of meat to eat fish which will result in an increase in the demand for sushi and fish. This increase in demand will increase short-run profit and the price of fish.
In the long run, high prices of sushi restaurants can lead consumers to shift back to meat because some people will ignore the warning about meat. This will increase the price and demand for meat. As fish is now a substitute high prices of meat will shift the consumers back to sushi restaurants so their profits and demand will increase in the long run as well.
And the number of sushi restaurants will increase in the long run. This is called general equilibrium analysis.
b)The local steakhouse will be affected by the popularity of sushi restaurants and the number of steakhouses will decrease in the town due to less demand or their sales profit will decrease due to which they might shut down.
c)Sushi markets is an example of perfect competition because there are many buyer and sellers of single types of product.
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suppose the asian financial crisis decreased u.s. exports. in the aggregate demand/aggregate supply model, this would be represented as
A rise in the value of the dollar has the immediate consequence of reducing net exports to other nations since importers will find that purchasing goods from the United States is more expensive than purchasing them from certain other nations.
The overall demand for American goods likewise declines as a result of the loss in exports.As a result, there will be an oversupply of US goods in producer warehouses, which will lower GDP and national productivity . difference between a country's total exports and total imports is known as net export.To determine the level of national demand for items generated by the economy, the net export figure is used.Foreign investors' declining faith in US financial institutions will result in less investments being made in the nation, which will cause commodity prices to decline.A lower price level also encourages exports and discourages imports, all other things being equal.
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what is the difference between a balloon loan and an amortized loan?
The balloon payment, which comes at the end of a balloon loan, is made up of a series of regular payments. A fully amortized loan, on the other hand, consists of equal payments made over the course of the loan's life.
The maximum term of a balloon loan is 20 years. An interest-only loan is one that is amortized. A debt that is amortized is repaid at the conclusion of the term. The use of balloon loans has various benefits. Borrowers can frequently access low interest rates with these loans. But since there is no assurance that the borrower will be able to refinance the loan at that same lower rate—or at all—the drawbacks frequently outweigh the benefits.
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