A market economy, sometimes known as capitalism, is an economic system where fundamental choices are determined by individuals and businesses acting in their own best interests.
Market economies, also referred to as capitalism, are those in which basic economic decisions are determined by individuals and businesses acting in their own best interests. With prices serving as signals for producers and consumers to make decisions, resources are distributed in this system according to the dynamics of supply and demand. Prices for goods and services are set by the market, and businesses produce and offer these items to increase profits. People independently decide how to spend their money depending on their own needs and preferences. While this system might promote innovation and efficiency, it can also produce disparities and market failures that might necessitate government intervention.
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Monopolistically competitive firms frequently prefer nonprice competition to price competition because :
a. nonprice competition shifts both the demand and MC curves upward to the right b. the decrease In demand allows the firm to ralse Its price with less fear of losing customers. c. price competitlon can lead to lower economic profits or even loss d. this results In a smaller output, a higher price, and more economic profits.
Monopolistically competitive firms frequently prefer nonprice competition to price competition because the decrease In demand allows the firm to raise Its price with less fear of losing customers.
Why do corporations engaged in monopolistic competition typically favor nonprice competition over price competition?Price competition between many monopolistic enterprises could result in a price war where all the firms suffer losses, hence monopolistic competition prefers non-price competition to price rivalry.
What happens when markets are monopolistically competitive and there is nonprice competition?The demand and MC curves are both shifted upward and to the right by non-price competition. This causes a decrease in output, an increase in price, and an increase in economic profits.
A monopolistically competitive company resembles a monopoly in what ways?Suppliers in monopolistic competitive markets set prices and act similarly over time, just like monopolies do. A monopolistic competitive corporation, like a monopoly, will maximize its profits by manufacturing items until its marginal revenues and costs are equal.
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Suppose Bob is the only seller in the market for bottled water and Sean is the only buyer. The following lists show the value Sean places on a bottle of water and the cost Bob incurs to produce each bottle of water:
Sean's Value
Value of first bottle: $9
Value of second bottle: $7
Value of third bottle: $4
Value of fourth bottle: $1
Bob's Costs
Cost of first bottle: $1
Cost of second bottle: $4
Cost of third bottle: $7
Cost of fourth bottle: $9
The following table shows their respective supply and demand schedules:
Price Quantity Demanded Quantity Supplied
$1 or less 4 0
$1 to $4 3 1
$4 to $7 2 2
$7 to $9 1 3
More than $9 0 4
Use Bob's supply schedule and Sean's demand schedule to find the quantity supplied and quantity demanded at prices of $2, $5, and $8. Enter these values in the following table.
Price Quantity Demanded Quantity Supplied
2 _____ ______
5 _____ ______
8 _____ _____
A price of _____ brings supply and demand into equilibrium.
At the equilibrium price, consumer surplus is ______ , producer surplus is______ , and total surplus is ______
If Bob produced and Sean consumed one less bottle of water, total surplus would ______.
If instead, Bob produced and Sean consumed one additional bottle of water, total surplus would _________
When the price is $1 to $4, quantity demanded is 3 units and quantity demanded is 1 unit. Thus, the quantity demanded is 3 units and quantity supplied is 1 unit at price $2.
What will be the further calculation?When the price is $4 to $7, quantity demanded is 2 units and quantity demanded is 2 units. Thus, the quantity demanded is 2 units and quantity supplied is 2 units at price $5. When the price is $7 to $9, quantity demanded is 1 unit and quantity demanded is 3 units. Thus, the quantity demanded is 1 unit and quantity supplied is 3 units at price $8.
Putting these values in the table:
Price Quantity demanded Quantity supplied
2 3 1
5 2 2
8 1 3
The quantity demanded is equal to quantity supplied when the price is $2 per unit.
Hence, a price of $2 brings supply and demand into equilibrium.
Consumer surplus is the difference between value and price, while producer surplus is the difference between marginal value and price at each level of quantity.
At the equilibrium price:
Consumer surplus for first bottle = $9 - $5 = $4
Consumer surplus for second bottle = $7 - $5 = $2
Hence, consumer surplus is $(4 + 2) = $6.
Producer surplus for first bottle = $4 - $1 = $3
Producer surplus for second bottle = $4 - $4 = $0
Hence, producer surplus is $(3 + 0) = $3.
Total surplus is the sum of consumer surplus and producer surplus.
Hence, total surplus is $(6 + 3) = $9.
If they produce and consume one less bottle,
Consumer surplus for first bottle = $9 - $5 = $4. Thus, consumer surplus is $4.
Producer surplus for first bottle = $4 - $1 = $3. Thus, producer surplus is $3.
Therefore, total surplus is $(4 + 3) = $7. The total surplus falls from $9 to $7.
Hence, if Bob produced and Sean consumed one less bottle, total surplus would fall.
If they produce and consume one more bottle:
Consumer surplus for first bottle = $9 - $5 = $4
Consumer surplus for second bottle = $7 - $5 = $2
Consumer surplus for third bottle = $4 - $5 = -$1
Hence, consumer surplus is $(4 + 2 - 1) = $5.
Producer surplus for first bottle = $4 - $1 = $3
Producer surplus for second bottle = $4 - $4 = $0
Producer surplus for third bottle = $4 - $7 = -$3
Hence, producer surplus is $(3 + 0 - 3) = $0.
Therefore,
Total surplus = Consumer surplus + Producer surplus
Total surplus = $5 + $0 = $5
Therefore, total surplus falls from $9 to $5.
Hence, if Bob produced and Sean consumed one more bottle, total surplus would fall.
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Data Analysis ch 25
1. In the Makeupsort.xlsx file, sort the sales data alphabetically by location, then by product type, then by name, then by date of sale, and finally by units sold.
In the Makeupsort.xlsx file, we must sort the sales data alphabetically by location, then by product type, then by name, then by date of sale, and finally by unit sold.
What is the extension use in Microsoft Excel worksheets file?The XLS file extension is used for files saved as Microsoft Excel worksheets. Excel is a popular spreadsheet program used with data like numbers and formulas, text, and drawing shapes. Excel is part of the Microsoft Office Suite of software. XLS files use a Binary Interchange File Format to store spreadsheet data and are proprietary to Microsoft.
The .xlsx files are used in Microsoft Excel (2007/2010) for Workbooks, spreadsheet, and document files.
The Makeupsort.xlsx file is shown below with an image attached:
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the condition for allocative efficiency is violated when responses A. firms are price makers( price searchers) B. short-run profits exist in a competitive industry C. price equals average total cost D. the market demand curve is inelastic in a competitive industry E. the market demand curve is elastic in a competitive industry
The condition for allocative efficiency is violated when responses is option (A) firms are price makers (price researchers).
A firm is a profitable commercial business that offers quality services, such as a franchise, limited liability company (LLC), or alliance. Most businesses only have one location. On the other hand, a business firm is made up of one or more physical locations which are all owned by the exact person and share the same EIN (EIN). The term "firm," as used in a title, is usually connected to businesses that provide expert legal and financial services, but it also refer to a wide variety of businesses, like advisory, marketing, and logo design firms, amongst many others. To ensure operational success, a company may leverage physical, financial, of natural resources.
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one factor that can lead to an increase in real GDP per person is _________ in the fraction of the population that is working.
An rise in the percentage of the population that is employed is one element that can result in an increase in real GDP per person.
What effects does a rise in the population's potential GDP have?As the population grows, more labor is available. Without a change in the labor demand, the equilibrium real pay rate falls and the total number of hours increases. As the number of hours increases, so does potential GDP.
What happens if the population and GDP both increase at the same rate?If population growth and economic growth are both rising at the same rate, real GDP per capita stays the same. If the real GDP of Country A is $500 billion one year and $540 billion the next, then there was an 8% increase between the two years.
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Environmentalists assert that the marketing system's goal should be to maximize ________.A) consumer protectionB) consumer satisfactionC) life qualityD) consumer choiceE) consumption
Environmentalists would undoubtedly contend that the marketing system should prioritise environmental sustainability while maximising customer delight. This implies that customers should be able to choose
Environmentalists are people or organisations that support the preservation and conservation of the natural environment in order to guarantee a sustainable and healthy planet for both the present and the future generations. Environmentalists strive for legislative reforms that prioritise conservation, sustainability, and the lessening of harmful effects on the world. They also work to raise awareness of environmental concerns. They utilise a variety of tactics to further their objectives, including education campaigns, lobbying, protests, and legal action. They frequently concentrate on topics including climate change, pollution, deforestation, loss of biodiversity, and resource depletion. Promoting ethical and sustainable connections between people and the environment is a major task for environmentalists.
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Which of the following sequence of statements would ensure that testuser has the privileges of the roles of technology and marketing? a.) CREATE ROLE marketing NOINHERIT; CREATE ROLE technology INHERIT; GRANT technology to testuser; GRANT marketing to technology; b.) CREATE ROLE marketing INHERIT; CREATE ROLE technology INHERIT; GRANT technology to testuser; GRANT marketing to technology; c.) CREATE ROLE marketing NOINHERIT; CREATE ROLE technology NOINHERIT; GRANT technology to testuser; GRANT marketing to technology; O d.) CREATE ROLE marketing NOINHERIT; CREATE ROLE technology NOINHERIT; GRANT marketing to testuser; GRANT marketing to technology;
The correct sequence of statements to ensure that testuser has the privileges of the roles of technology and marketing would be: b.) CREATE ROLE marketing INHERIT; CREATE ROLE technology INHERIT; GRANT technology to testuser; GRANT marketing to technology;
Option a.) does not ensure that testuser has the privileges of both marketing and technology roles. It creates marketing role without inheritance, and technology role with inheritance, then grants technology to testuser and marketing to technology, but this does not grant the privileges of marketing to testuser.
Option b.) creates both marketing and technology roles with inheritance, which means that any role that is granted marketing or technology will inherit the privileges of both roles. Then, it grants technology to testuser and marketing to technology, ensuring that testuser has the privileges of both roles.
Option c.) creates both marketing and technology roles without inheritance, and then grants technology to testuser and marketing to technology, but this does not ensure that testuser has the privileges of both roles.
Option d.) creates both marketing and technology roles without inheritance, then grants marketing to testuser and marketing to technology, but this does not ensure that testuser has the privileges of technology role.
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Using the information below, determine what percentage of total GDP for this country consists of services. Round your answer to the nearest tenth. Components of GDP on the Supply Side (in trillions of dollars) Durable goods 3.21 Nondurable goods 2.58 Services 12.03 Structures 1.77 Change in inventories 0.43 Total ?
The answer is 60.1% is the GDP,
Working-
GDP=Durable goods + Nondurable goods + Services + Structures + Change in inventories
For this economy,
GDP=3.21+2.58+12.03+1.77+0.43=$20.02 trillion
To find the percentage of services,
12.03/20.02×100=60.1%.
What is a straightforward explanation of GDP?GDP calculates the monetary value of the final goods and services—those purchased by the consumer—produced in a nation over a specified time period (say a quarter or a year). It totals all the output produced inside a nation's boundaries.
What is GDP and why is it significant?Gross domestic product, also referred to as GDP, is one of the most significant. This economic indicator shows the monetary value of goods (ranging from food items to machinery, automobiles, and textiles) and services (such as health care, education, etc.) produced in the nation over a specific time period.
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Which of the following statements is true for both monopolistically competitive and oligopolistic industries?(a) It is impossible for new firms to enter the industries(b) Collusion and creation of cartels is common(c) Producers cannot benefit from knowing other firms’ plans(d) Firms have some degree of control over price
The correct option is D. Both monopolistically competitive and oligopolistic industries have some degree of control over price.
In macroeconomics, an enterprise is a branch of a monetary machine that produces a carefully-related set of uncooked substances, goods, or services. for instance, one would likely take a look at the wood organization or the coverage company.
The industry class is valuable for financial evaluation as it results in largely tremendous training with easy relationships. but, more complicated instances, together with in any other case super procedures yielding similar merchandise, require detail of standardization and save each person's schema from turning into all viable uses. An employer is a set of manufacturers or organizations that produce a selected form of gadgets or services. people in the material industry format, fabricate, and sell cloth. The traveler enterprise consists of all the enterprise elements of tourism.
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A self-employed taxpayer may be eligible to deduct amounts paid for medical insurance for themselves and for their families. To claim this deduction, qualifying taxpayer should:
You can claim the self-employed health insurance deduction as an adjustment to your gross income on Schedule 1 of Form 1040. You can claim this deduction regardless if you choose to claim the standard deduction or itemize your deductions.
the december 31, 2021, adjusted trial balance for the blueboy cheese corporation is presented below. account title debits credits cash 65,800 accounts receivable 255,000 prepaid rent 5,500 inventory 36,000 office equipment 460,000 accumulated depreciation 194,000 accounts payable 42,000 notes payable (due in six months) 18,000 salaries payable 6,100 interest payable 600 common stock 400,000 retained earnings 75,000 sales revenue 610,000 cost of goods sold 366,000 salaries expense 91,500 rent expense 16,500 depreciation expense 46,000 interest expense 1,200 advertising expense 2,200 totals 1,345,700 1,345,700 required: 1. prepare an income statement for the year ended december 31, 2021. 2. prepare a classified balance sheet as of december 31, 2021. 3. prepare the necessary closing entries at december 31, 2021.
In the Blueboy cheese corporation, an income statement for the year ended December 31, 2021 is $ 86,600.
What do you mean by an income statement?The net income is one of the three essential financial statements used to show an industry's measure of profitability income statement. The balance sheet and the cash flow statement are the other two important statements.
The revenue, costs, gains, and losses incurred by a company over a specific time period are the main topics of the income statement.
Therefore, in the Blueboy cheese corporation following are as follow:
An income statement for the year ended December 31, 2021 is $ 86,600. A classified balance sheet as of December 31, 2021 is total assets and total liabilities & stockholder's Equity is $ 628,300.To know more about the income statement, visit:
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The image is attached with solved description:
Many marketing managers attempt to influence and shape environmental forces. This is known as the __________ approach.
Many marketing executives try to modify and sway environmental factors. The proactive method is what we refer to as that.
A excellent career for a marketing manager?Marketing management might be a fantastic choice if you're seeking for a profession where you can use your creativity and people-management abilities to make a difference in an organization. The world is connected to a brand or product through marketing managers. Their marketing expertise draws clients through a variety of platforms.
Is managing a marketing department difficult?As a marketing manager, you have a direct responsibility for achieving difficult KPIs, which can be stressful. And the balance between work and life might frequently lean toward work. But don't let it discourage you.
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Suppose that Michelle bought a cappuccino from Paul's Cafe and Bakery for $5.25. Michelle was willing to pay up to $8.75 for the cappuccino and Paul's Cafe and Bakery was willing to accept $1.25 for the cappuccino.
What is Michelle's consumer surplus is equal to? What is Paul's Bakery's producer surplus is equal to?
Michelle's consumer surplus equals to $ 3.50 and Paul's bakery's consumer surplus equals to $4.00.
Consumer rewards from competitive environment are expressed economically as excess profit. When customers will pay lesser for a good or service than they are happy to, this is termed as a consumer surplus. It measures the extra benefit that consumers get from paying less for something than they would have been able to. It typically rises as a commodity's price drops & falls as a value's cost increases. Analysts visualize it as the triangle-shaped region beneath the equilibrium price that is between the market price and the price that customers are willing to pay. The overall business surplus is indeed the sum of the product surplus and consumer surplus.
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in marginal economic analysis, the cost per item of overestimating demand is also called the select cost, and the cost per item of underestimating demand is also called ______
In marginal economic analysis, the cost per item of overestimating demand is also called the salvage cost, and the cost per item of underestimating demand is also called the shortage cost.
What is marginal analysis?Marginal analysis is an examination of the associated costs and potential benefits of specific business activities or financial decisions. The goal is to determine if the costs associated with the change in activity will result in a benefit that is sufficient enough to offset them. Instead of focusing on business output as a whole, the impact on the cost of producing an individual unit is most often observed as a point of comparison.
Marginal analysis can also help in the decision-making process when two potential investments exist, but there are only enough available funds for one.
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1
GM
QUES
e spee
eek is
s the population of G
ast decade:
The following tables shows the GDPL in GHd million)
of Ghana over the last decade.
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
[1402 17.2 2014 24.8 28.5 26 32.2 39.2 41.7 47.8
Compute the average grow rate over the p
period.
29.156 the average growth rate over the period. The growth in the number of individuals in a population or dispersed group is known as population growth.
What is meant by population growth?The annual increase in population size is defined as the sum of two differences: the difference between births and deaths, and the difference between immigrants and emigrants in a given country, territory, or geographic area in a given year. Measuring technique.
average growth rate = 14.02 + 17.2 + 20.14+ 24.8+ 28.5+ 26 + 32.2+ 39.2+ 41.7+ 47.8 /10 =29.156
The percentage of revenue indicates how much the company's revenues have increased or decreased over a given time period. Calculating the growth rate equation on a monthly, quarterly, or annual basis allows you to understand the negative and positive changes that impact the company and its financial health.
Thus, 29.156 is the average growth rate over the period.
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under certain circumstances, a cooperative insurer can obtain additional capital by borrowing funds using surplus notes. these notes can usually be repaid only from
A combined ratio (CR), which is determined by dividing the total of incurred losses and expenses by earned premiums, is a gauge of insurance underwriting profitability.
Because of levels of investment income, insurers expenses can have an underwriting loss (a CR of more than 100%) and still turn a profitability. We're here to outline the five main distinctions between these types of insurance. Principal objectives:
A mutual insurer's major goal is to consistently retain sufficient capital to meet the demands expenses of policyholders. On the other hand, a stock insurer's primary objective is to increase profitability for its shareholders. The consideration clause specifies the amount and timing of the premium payments.
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M
TAP, Inc., has fewer than 100 shareholders. The shareholders wish to enter into an agreement pertaining to the exercise of the corporate powers or the management of the affairs of the corporation. Which of the following, if adopted by the shareholders, would be contrary to public policy and, therefore, unenforceable in Florida?
Answers:
A. An agreement that exculpates directors from all personal liability.
B. An agreement that authorizes a particular shareholder to manage the affairs of the corporation.
C. An agreement that requires dissolution of the corporation at the request of one of the shareholders.
D. An agreement that eliminates the board of directors.
Option B would be contrary to public policy and therefore unenforceable in Florida.
Under Florida law, the management of a corporation is typically vested in its board of directors, who owe a fiduciary duty to the corporation and its shareholders. All shareholders, regardless of the size of their ownership interest, are entitled to vote in the election of directors and have a say in the management of the corporation. An agreement that authorizes a particular shareholder to manage the affairs of the corporation would effectively undermine this principle of democratic governance and unfairly concentrate power in the hands of a single shareholder. Such an agreement would be contrary to public policy, as it would violate the fundamental principles of corporate law and could potentially harm the interests of minority shareholders.
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Kohler Corporation reports the following components of stockholders’ equity at December 31 of the prior year.
Common stock—$20 par value, 100,000 shares authorized, 55,000 shares issued and outstanding $ 1,100,000
Paid-in capital in excess of par value, common stock 70,000
Retained earnings 400,000
Total stockholders' equity $ 1,570,000
During the current year, the following transactions affected its stockholders’ equity accounts.
January 2 Purchased 5,000 shares of its own stock at $25 cash per share.
January 5 Directors declared a $6 per share cash dividend payable on February 28 to the February 5 stockholders of record.
February 28 Paid the dividend declared on January 5.
July 6 Sold 2,500 of its treasury shares at $29 cash per share.
August 22 Sold 2,500 of its treasury shares at $21 cash per share.
September 5 Directors declared a $6 per share cash dividend payable on October 28 to the September 25 stockholders of record.
October 28 Paid the dividend declared on September 5.
December 31 Closed the $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings.
Required:
1. Prepare journal entries to record each of these transactions.
2. Prepare a statement of retained earnings for the current year ended December 31.
3. Prepare the stockholders’ equity section of the balance sheet as of December 31 of the current year.
Journal entry worksheet
Record the declaration of a cash dividend of $6 per share.
Record the payment of the cash dividend.
Record the entry to close the $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings.
Prepare a statement of retained earnings for the current year ended December 31. (Amounts to be deducted should be indicated by a minus sign.)
Prepare the stockholders’ equity section of the balance sheet as of December 31 of the current year.
Kohler Corporation reports the following components of stockholders’ equity at December 31 of the prior year the Total stockholders' equity is 1,426,125.
Stockholders are individuals or entities that own shares or stocks in a company. They are also known as shareholders or equity owners. When someone purchases a stock in a company, they become a partial owner of that company. This ownership entitles them to vote on certain company matters, such as board member elections and significant business decisions. It also entitles them to a portion of the company's profits, called dividends.
Stockholders are important to a company because they provide the necessary capital for growth and expansion. The more stocks a company sells, the more money it can raise for operations or investment. Additionally, having a diverse range of stockholders provides a company with a broad base of support, reducing the risks associated with relying on a single or small group of investors. Overall, stockholders play a crucial role in the success of a company and are an essential component of the capitalist economic system.
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Albert works for a charity fund. This year the charity has a limited amount of money, and Albert has to choose which project will receive funding. Of the projects he has to chose from, one will help 200 children go to summer camp, a second will build a well that will give clean water to 900 people, a third will give college scholarships to 150 students, a fourth will provide houses to 15 families, and a fifth will provide free daycare to 100 low-income families. If Albert follows the utilitarian philosophy, which project will he choose? Multiple Choice The project that will provide free daycare to 100 low-income families. The project that will provide houses to 15 families. The project that will give college scholarships to 150 students. The project that will help 200 children go to summer camp. The project that will build a well that will give clean water to 900 people.
Option e: The project that will build a well that will give clean water to 900 people if he follows utilitarian philosophy.
In ethical philosophy, utilitarianism is a family of normative ethical theories that prescribe behavior that maximizes the well-being and happiness of all individuals involved.
Different flavors of utilitarianism allow for different characterizations, but the basic idea behind it all is utility maximization in some sense, often in terms of happiness or related concepts.
For example, the founder of utilitarianism, Jeremy Bentham, describes utility as follows:
The property of an object that tends to produce utility, advantage, pleasure, goodness, or happiness.
Utilitarianism is a version of consequentialism that claims that the consequences of all actions are the only measure of good or bad. Unlike other forms of consequentialism such as egoism and altruism, utilitarianism considers the interests of all sentient beings equally.
Proponents of utilitarianism disagree on many issues.. Should actions be chosen based on the likely outcome (action utilitarianism), or should the agent follow rules that maximize utility (rule utilitarianism)? T
here is also disagreement about whether to maximize overall utility (Total Utilitarianism), average utility (Average Utilitarianism), or worst-case utility.
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Complete question:
Albert works for a charity fund. This year the charity has a limited amount of money, and Albert has to choose which project will receive funding. Of the projects he has to chose from, one will help 200 children go to summer camp, a second will build a well that will give clean water to 900 people, a third will give college scholarships to 150 students, a fourth will provide houses to 15 families, and a fifth will provide free daycare to 100 low-income families. If Albert follows the utilitarian philosophy, which project will he choose?
a) The project that will provide free daycare to 100 low-income families. b) The project that will provide houses to 15 families.
c) The project that will give college scholarships to 150 students.
d) The project that will help 200 children go to summer camp.
e) The project that will build a well that will give clean water to 900 people.
compute the current-year income tax liability for each of the following unrelated calendar year c corporations. a. darter corporation has taxable income of $68,000. $_______b. owl corporation has taxable income of $10,800,000. $_______ c. toucan corporation, a personal service corporation, has taxable income of $170,000. $______
A. Darter Corporation's current-year income tax liability is $14,280.
B. Owl Corporation's current-year income tax liability is $2,268,000.
C. Toucan Corporation's current-year income tax liability is $59,500.
How did we get these values?a. Darter Corporation:
Assuming that Darter Corporation is not a personal service corporation, its current-year income tax liability can be calculated as follows:
Taxable Income: $68,000
Tax Rate: 21% (for C Corporations with taxable income between $50,000 and $75,000)
Current-Year Income Tax Liability: $14,280
Therefore, Darter Corporation's current-year income tax liability is $14,280.
b. Owl Corporation:
Assuming that Owl Corporation is not a personal service corporation, its current-year income tax liability can be calculated as follows:
Taxable Income: $10,800,000
Tax Rate: 21% (for C Corporations with taxable income over $10,000,000)
Current-Year Income Tax Liability: $2,268,000
Therefore, Owl Corporation's current-year income tax liability is $2,268,000.
c. Toucan Corporation:
Assuming that Toucan Corporation is a personal service corporation, its current-year income tax liability can be calculated as follows:
Taxable Income: $170,000
Tax Rate: 35% (for personal service corporations with taxable income up to $50,000)
Current-Year Income Tax Liability: $59,500
Therefore, Toucan Corporation's current-year income tax liability is $59,500.
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given the following information, determine the final appraisal value of the subject property. adjustments market conditions -0.20% (per month, without compounding) lot size $70,000 (per acre) effective age (years) -$3,000 (per year) living area (sq. ft) $300.00 (per sq. ft.) bath $10,000 (per bath) bedrooms $30,000 (per bedroom) subject property comparable property time sold today 3 months ago lot size (acres) 0.85 0.80 effective age (years) 8 12 living area (sq. ft) 2,296 2,380 bath 2.5 3 bedrooms 3 3 sale price - $687,000
Adjusted sale price of comparable property: $687,000 + $21,700 = $708,700. Final appraisal value of the subject property: $708,700.
How do you determine the final appraisal value of the subject property?To determine the final appraisal value of the subject property, we need to make adjustments based on the comparable properties. The adjustments are calculated as follows:
Lot size adjustment:
0.85 - 0.80 = 0.05 (acres)
0.05 x $70,000 = $3,500
Effective age adjustment:
12 - 8 = 4 (years)
4 x -$3,000 = -$12,000
Living area adjustment:
2,380 - 2,296 = 84 (sq. ft.)
84 x $300 = $25,200
Bath adjustment:
3 - 2.5 = 0.5 (bath)
0.5 x $10,000 = $5,000
Bedroom adjustment:
3 - 3 = 0 (no adjustment)
Total adjustments:
$3,500 - $12,000 + $25,200 + $5,000 = $21,700
Adjusted sale price of comparable property:
$687,000 + $21,700 = $708,700
Final appraisal value of the subject property:
$708,700
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the retained earnings statement shows all of the following except question 12 options: the amounts of changes in retained earnings during the period. the causes of changes in retained earnings during the period. the time period following the one shown for the income statement. beginning retained earnings on the first line of the statement.
The retained earnings statement does not show the beginning retained earnings on the first line of the statement.
The retained earnings statement is a financial report that shows the cumulative effect on retained earnings of all profits and losses since the company's inception, as well as any dividend payments made to shareholders.
It is essentially the net balance of the company's earnings that have not been distributed to shareholders and other owners. The retained earnings statement shows the amounts of changes in retained earnings during the period, the causes of changes in retained earnings during the period, and the time period following the one shown for the income statement.
However, it does not show the beginning retained earnings on the first line of the statement. This is because the retained earnings statement is a cumulative report that shows the total retained earnings of the company, not the beginning balance.
The beginning balance of retained earnings is instead found on the balance sheet, which is a statement of the company's assets, liabilities, and shareholders' equity at a given point in time.
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When organizations go global, they often start by simply exporting products to one or more foreign countries.a. Trueb. False
The statement when organizations go global, they often start by simply exporting products to one or more foreign countries is false. It suffices for an organisation to be deemed "global" if it engages in trade with other nations.
Multinational firms run sizable activities concurrently in two or more nations. Companies construct a separate organizations to generate a product through a strategic collaboration. When businesses expand internationally, they frequently begin by trade exporting their goods to one or more foreign nations. A corporation with many domestic markets is Sony. While headquartered in their native country or countries, multinational firms retain sizable activities in one or more other nations.
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Exercise 6-5 Changes in Variable Costs, Fixed Costs, Selling Price, and Volume (LO6-4] [The following information applies to the questions displayed below.] Data for Hermann Corporation are shown below: Selling price Variable expenses Contribution margin Per Unit $ 105 63 $ 42 Percent of Sales 100% 60 40% Fixed expenses are $81,000 per month and the company is selling 3,800 units per month.
2-a. Refer to the original data. How much will net operating income increase (decrease) per month if the company uses higher-quality components that increase the variable expense by $4 per unit and increase unit sales by 20%.
2-b. Should the higher-quality components be used?
The net operating income will decrease by $38,520 per month and the company should not use a higher-quality component
What is the change in the net operating income2-a. If the company uses higher-quality components that increase the variable expense by $4 per unit and increase unit sales by 20%, the new variable expense per unit will be $63 + $4 = $67, and the new unit sales will be 3,800 x 1.2 = 4,560 units. The new contribution margin per unit will be $105 - $67 = $38, and the new net operating income will be:
$38 x 4,560 - $81,000 = $42,480 - $81,000 = -$38,520
Therefore, net operating income will decrease by $38,520 per month.
2-b. Based on the above calculation, the company should not use the higher-quality components as it will result in a significant decrease in net operating income.
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Which of the following are examples of marketing strengths that might be enjoyed by the Coca Cola Company? (Check all that apply.)Efficient manufacturing facilitiesRecognizable branding
Good relationships with retailers
Experienced sales force
Recognizable branding, Experienced sales force and Good relationships with retailers are examples of marketing strengths that might be enjoyed by the Coca Cola Company .
Option b , c , d is correct .
The marketing mix, also known as the four Ps of marketing, refers to the four basic elements of a marketing strategy: product, price, place, and promotion. Incorrectly, marketing managers find competitive advantage when competitors do not have similar strengths.
Cost advantage - manufacturing a product or providing a service at a lower price than competitors. Provide an advantage - Differentiate the product by adding features that customers value. Niche advantage - serving a specific market segment better than anyone else.
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For a multi-state model of a special 3-year term insurance on (x):
(i) Insureds may be in one of three states at the beginning of each year: active (State 0),
disabled (State 1), or dead (State 2). The annual transition probabilities are as follows
for k = 0, 1, 2:
Active (0) 0.8 0.1 0.1
Disabled (1) 0.1 0.7 0.2
Dead (2) 0.0 0.0 1.0
(ii) A 100,000 benefit is payable at the end of the year of death whether the insured was
active or disabled.
(iii) Premiums are paid at the beginning of each year when active. Insureds do not pay
any annual premiums when they are disabled at the start of the year.
(iv) d = 0.10
Calculate the level annual benefit premium for this insurance.
(A) 9,000
(B) 10,700
(C) 11,800
(D) 13,200
(E) 20,800
The level annual benefit premium for the given multi-state 3-year term insurance is approximately $11,800, calculated using the equivalence principle and weighted sums of expected present values of premiums and benefits. So, the correct option is (C).
To calculate the level annual benefit premium, we can use the equivalence principle, which states that the expected present value of premiums equals the expected present value of benefits. We can set up an equation to solve for the premium as follows:
PV(Premiums) = PV(Benefits)
where PV denotes present value. We can break down the expected present value of premiums and benefits for each state:
State 0 (Active):
PV(Premiums|State 0) = 100,000 * (1 - 0.1) = 90,000 (since premiums are paid only if the insured is active)
PV(Benefits|State 0) = 0.8 * 0 + 0.1 * 100,000 + 0.1 * 100,000 = 20,000 (since the insured has a 10% chance of becoming disabled and a 10% chance of dying)
State 1 (Disabled):
PV(Premiums|State 1) = 0 (since no premiums are paid when the insured is disabled)
PV(Benefits|State 1) = 100,000 * (0.7 * 0 + 0.2 * 1) = 20,000 (since the insured has a 70% chance of remaining disabled and a 20% chance of dying)
State 2 (Dead):
PV(Premiums|State 2) = 0 (since the insured cannot pay premiums when dead)
PV(Benefits|State 2) = 100,000 * 1 = 100,000 (since the benefit is payable at the end of the year of death)
Now, we can calculate the expected present value of premiums and benefits by taking a weighted sum of the values for each state, using the transition probabilities:
PV(Premiums) = 0.8 * PV(Premiums|State 0) + 0.1 * PV(Premiums|State 1) + 0 * PV(Premiums|State 2) = 0.8 * 90,000 + 0.1 * 0 + 0 * 0 = 72,000
PV(Benefits) = 0.8 * PV(Benefits|State 0) + 0.1 * PV(Benefits|State 1) + 1 * PV(Benefits|State 2) = 0.8 * 20,000 + 0.1 * 20,000 + 1 * 100,000 = 118,000
Finally, we can solve for the level annual benefit premium by equating the two values:
72,000 = 118,000 / (1 + d)^3
where d is the discount rate. Solving for the premium, we get:
Premium = 118,000 / (1 + d)^3 / 3 = 11,792.07
Rounding to the nearest dollar, the correct answer is (C) 11,800.
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What is the first step of the price setting process?
Identifying the goals the business wishes to accomplish with pricing, such as maximising profits or gaining market share, is the first stage in the price setting process.
Identifying the pricing objectives is the first stage in the price setting process. This entails establishing precise objectives for the pricing strategy that are consistent with the overarching corporate goals. The pricing goals may include things like maximising earnings, expanding market share, keeping a price advantage, fending off competitors, or just existing in the market. Following the establishment of price objectives, the business can proceed to gather data on expenses, clients, competitors, and other elements that will aid in determining the best pricing approach. The pricing objectives and the data obtained in the following stages of the price setting process will eventually determine the pricing approach.
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An automated car wash called Jet Express outside a large Texas city on the beltway is deciding whether to build and install one dedicated vehicle wash line or have two parallel wash lines. There are no other car washes at this intersection and there will be none because all the land is developed. The second line allows for some economies of scale in total cost. The monthly fixed cost of one wash line is $16,000 per month or $192,000 per year. This includes the mortgage payment, taxes on the building, and wash equipment. The variable cost for this single line is $17 per vehicle. The fixed cost for two wash lines is $27,000 per month or $324,000 per year, and the variable cost to operate two lines is $15 per vehicle because some wash crews can work both lines. The price of the average interior and exterior car wash is $27. Use the Excel template Break-Even in MindTap to answer the following questions: a. What is the break-even quantity for one and two automated wash line? Round your answers to the nearest whole number. For one wash line: 19200 vehicles per year For two wash lines: 27000 vehicles per year b. Annual forecasts of demand for this site ranges from 19,200 to 38,400 per year. Calculate the net profit/loss of the site in each of the following situations. Round your answers to the nearest dollar. If your answer is zero, enter "0". Use a minus sign to enter loss, if any. One Two wash line wash lines 19,200 vehicles $ $ 28,800 vehicles $ 38,400 vehicles $ $
Let the break-even for one wash line and two wash line be x and y respectively. Now at break-even, Sales = Fixed cost + Variable cost
What is break-even point?By comparing an asset's market price to its initial cost, the breakeven point for a transaction or investment can be identified. The breakeven point is reached when the two prices are equal.
The breakeven point formula in corporate accounting is calculated by dividing the total fixed costs of production by the revenue per unit less the variable expenses per unit.
In this context, fixed costs are those expenses that are constant regardless of the quantity of units sold. The production level at which total sales for a product equal total expenses is known as the breakeven point.
The production level at which a product's expenses and revenues are equal is known as the breakeven point.
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Select the term associated with making housing decisions that corresponds to each of the given descriptions. (Note: These are not necessarily complete definitions, but there is only one possible answer for each description.) Description Term Closing costs Condominium This refers to the situation in which a homeowner is unable to make the principal and interest payments on his or her mortgage, so the lender can seize and sell the property as stipulated in the terms of the mortgage contract Contingency clause Earnest money deposit This insurance policy protects the mortgage lender from a default by its mortgage borrower, and it is typically required when the borrower uses a down payment that is less than 20% Foreclosure Loan-to-value ratio This term is used to describe the situation in which the market value of a parcel of real estate is lower than the amount owed on the loan used to purchase the parcel. 15 Mortgage points Negative equity This is the name given to a situation in which a home and the property on which it sits secures a 5185,000 mortgage loan, and the property is sold for only $155.000 Private mortgage insurance Short sale This refers to the cause in a real estate sales contract that makes the agreement conditional on one or more factors or events, such as the availability of financing of the results of a property inspection
The process of the lender selling the collateral property in order to recover the principal and interest that the borrower owes after they stopped making payments is known as foreclosure.
Which one is Private Mortgage Insurance?If you have a conventional loan, you may be required to pay for private mortgage insurance, also known as PMI. Private mortgage insurance is a type of mortgage insurance. PMI, like other forms of mortgage insurance, protects the lender, not you, in the event that you fail to make your loan payments.
Private Mortgage Insurance is Statement 2. When the borrower's down payment is less than 20%, they are required to purchase private mortgage insurance.
Statement 3 refers to negative equity in which the market price of a real estate property is less than the mortgage balance on that property.
Statement 4 is a negative equity situation. Negative equity occurs when the market price of a real estate property is less than the mortgage balance on that property.
Statement 5 is a contingency clause. A real estate contract's contingency clause includes conditions and actions that are legally enforceable.
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Complete Question:
Select the term associated with making housing decisions that corresponds to each of the given descriptions. (Note: These are not necessarily complete definitions, but there is only one possible answer for each description.) Description Term Closing costs Condominium
1.This refers to the situation in which a homeowner is unable to make the principal and interest payments on his or her mortgage, so the lender can seize and sell the property as stipulated in the terms of the mortgage contractor
Contingency clause Earnest money deposit
2.This insurance policy protects the mortgage lender from a default by its mortgage borrower, and it is typically required when the borrower uses a down payment that is less than 20% Foreclosure Loan-to-value ratio
3.This term is used to describe the situation in which the market value of a parcel of real estate is lower than the amount owed on the loan used to purchase the parcel. 15 Mortgage points Negative equity
4.This is the name given to a situation in which a home and the property on which it sits secures a 5185,000 mortgage loan, and the property is sold for only $155.000 Private mortgage insurance Short sale
5.This refers to the cause in a real estate sales contract that makes the agreement conditional on one or more factors or events, such as the availability of financing of the results of a property inspection
An all-equity firm reports a net profit margin of 10% on sales of $3 million. If the tax rate is 21%, what is the pretax profit Multiple Choice $379,746 $323,421 $726,568 $103,082
The correct option is A. The pre-tax profit is $379.746.
Net profit = 3000000*10/100= 300000.
pre-tax profit= [tex]\frac{300000}{0.79} = $379.746.[/tex]
Marginal refers to the point of interest on the cost or profit of the next unit or person, such as the cost of producing an additional widget or the profits from hiring an additional employee. Marginal analysis is a decision-making tool used by businesses to help them optimize their prospective profitability.
The marginal value, or cost of producing extra quantity, is the adjustment to the overall cost that results from an increase in the amount produced in economics. It can refer to an increase in the output of one unit in some situations, and it can also refer to the rate of change of total value as production is increased by an infinitesimal amount.
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