T/F. A systems approach emphasizes interrelationships among subsystems, but its main theme is that the whole is greater than the sum of its individual parts.

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Answer 1

A systems approach emphasizes interrelationships among subsystems, but its main theme is that the whole is greater than the sum of its individual parts. The given statement is true.

A subsystem is a part of a larger system that performs a specific function and is dependent on the other parts of the system for its operation. In a system, different subsystems are interdependent and work together to achieve the overall goal of the system. For example, in an automobile, different subsystems such as the engine, transmission, suspension, and electrical system work together to make the vehicle move. Each subsystem performs a specific function, but it also relies on the other subsystems to function properly. If one subsystem fails, it can affect the entire system and its performance. In a business organization, different departments can be considered subsystems, with each department responsible for a specific function such as sales, marketing, finance, or human resources. These departments work together to achieve the overall goals of the organization.

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Related Questions

suppose that the total revenue received by a company selling basketballs is $960 when the price is set at $30 per basketball and $960 when the price is set at $20 per basketball. without using the midpoint formula, identify whether demand is elastic, inelastic, or unit-elastic over this price range. demand is?

Answers

The demand for the company's basketballs appears to be unit-elastic over this price range. Unit-elastic demand means that a change in price leads to an equal proportional change in the quantity demanded.

the revenue received by the company remains the same whether the price is set at $30 or $20 per basketball, which suggests that the change in price did not lead to a significant change in the quantity demanded.

Price elasticity of demand measures how responsive the quantity demanded is to changes in the price of a good or service. In other words, it tells us how much the quantity demanded changes when the price changes.

If the price elasticity of demand is elastic, a change in price leads to a larger change in the quantity demanded in the same direction. This means that if the price of a product increases, the demand for it will decrease, and vice versa.

If the price elasticity of demand is inelastic, a change in price leads to a smaller change in the quantity demanded in the same direction. This means that even if the price of a product increases, the demand for it will only decrease slightly, and vice versa.

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is it True or False? romina, the director of marketing for a global company, is planning the contributions she and her department will make to the organization over the next 24 months. this type of planning is called operational planning.

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The given statement  "Romina, the director of marketing for a global firm, is planning the contributions she and her department will make to the company over the next 24 months. This kind of planning is called operational planning" is false because the type of planning that Romina is engaged in is strategic planning, not operational planning.

Strategic planning involves setting long-term goals and determining how to achieve them, whereas operational planning focuses on the day-to-day activities and short-term goals necessary to support the strategic plan. In this case, Romina is working on a long-term plan for the marketing department and determining how it will contribute to the overall success of the organization.

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lewis is annoyed that marcus used a sms text to send important corporate information, which is both unprofessional and against organizational policy. this is an example of which of the following?

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Lewis is annoyed that Marcus used a sms text to send important corporate information, which is both unprofessional and against organizational policy. This is an example of encoding.

What is encoding?

Encoding is the process through which the communication's originator constructs the message they desire to convey. Encoding is the process of turning a vague concept into a clear message. Words, symbols, photos, symbols, and noises are used to accomplish this.

Encoding is the process of converting an organization's ideas about a product into different forms or styles of promotion, such as advertisements, news releases, sales promotions, or a personal sales pitch.

The firm that plans to market its new product will be the source of communications regarding promotion and marketing. Encoding is the process through which the communication's originator constructs the message they desire to convey.

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Q) Lewis is annoyed that marcus used a sms text to send important corporate information, which is both unprofessional and against organizational policy. this is an example of which of the following?

informationencodingnoisefeedback

ABC manufacturing firms wants to meet the excess demand to its products. The firm’s management is concerning three alternative courses of action.
A. Arrange for subcontracting B. Begin overtime production
C. Construct new facilities
The correct choice depends largely on future demand, which may be low, medium or high. Management ranks the respective probabilities as 10%, 50% and 40% to low, medium and high product demand in the future respectively. A cost analysis reveals the effect on profit of each alternative under a given state. This is given in the payoff table below. Based on the given information and Table, which alternative is the viable choice? (5% Shw necessary steps)

Alternatives Profit if Demand is (Birr)
Low (0.1) Medium (0.5) High (0.4)
Arrange for sub contract (A1) 10,000 50,000 50,000
Over time (A2) -20,000 60,000 100,000
New facilities (A3) -150,000 20,000 20,000

Answers

The best alternative is to choose overtime production (A2) since it has the highest expected profit.

How to find the expected profit

To determine the expected profit for each alternative, we need to multiply the profit for each demand level by its respective probability and then add them up.

Expected Profit for Alternative A1 = 10,000 * 0.1 + 50,000 * 0.5 + 50,000 * 0.4 = 10,000 + 25,000 + 20,000 = 55,000

Expected Profit for Alternative A2 = -20,000 * 0.1 + 60,000 * 0.5 + 100,000 * 0.4 = -2,000 + 30,000 + 40,000 = 68,000

Expected Profit for Alternative A3 = -150,000 * 0.1 + 20,000 * 0.5 + 20,000 * 0.4 = -15,000 + 10,000 + 8,000 = -7,000

Since Alternative A2 has the highest expected profit of 68,000, it is the viable choice for the ABC manufacturing firm.

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The apple market is in equilibrium. Suppose we observe that apple growers are using more pesticides to increase apple production. At the same time, we hear that the price of pears, a substitute for apples, is rising.
Which of the following is a reasonable prediction for the new price and quantity of apples?
A. Price rises, but quantity is ambiguous.
B. Price falls, but quantity is ambiguous.
C. Price is ambiguous, but quantity rises.
D. Price is ambiguous, but quantity falls.
E. Both price and quantity are ambiguous.

Answers

Price is ambiguous, but quantity rises is a reasonable prediction for the new price and quantity of apples

When a security's price swings over time within a comparatively stable range without obviously demonstrating any trends, it is said to be in a sideways market, often referred to as a sideways drift. Instead, price movement moves in a lateral range or channel without the market being taken over by bulls or bears. Sideways markets often result from price movement between strong levels of support and resistance. It is common for a diagonal trend to predominate the price movement of a particular asset for a while before a new trend higher or lower starts. Since such substantial price changes are nearly never sustained over the longer term, these periods of consolidation are typically necessary throughout long-lasting trends.

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In the short-run, the ___________ of many goods and services are sticky or inflexible and unable to rapidly change

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The prices of many goods and services are fixed or sticky, and they rarely change in the short term.

What do we mean by pricing?

The process of figuring out a product's quantitative value based on both internal and external elements is called product pricing.

Product pricing directly affects your company's entire success, including cash flow, profit margins, and client demand.

Many goods and services have sticky or rigid prices that can't alter quickly in the short term.

Price of goods refers to the cost of the item as stated on the label at the time of manufacturing, the maximum retail price (MRP), the price stated in the import declaration form, or the price set by the producer at the point of origin.

Depending on the sector and type of business, value-based, competition-based, cost-plus, and dynamic pricing are all regularly employed approaches.

Therefore, the prices of many goods and services are fixed or sticky, and they rarely change in the short term.

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Suppose an initial investment of $80 will return $40/year for three years (assume the $40 is received each year at the end of the year). At a discount rate of 30%, this investment _____ profitable.

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Suppose an initial investment of $80 will return $40/year for three years (assume the $40 is received each year at the end of the year). At a discount rate of 30%, this investment Not is profitable.

The computation of investment profitability is shown below:-

The present value of the return is

= 30 ÷ 1.25 + 30 ÷ 1.25^2 + 30 ÷ 1.25^3

= 24 + 19.2 + 15.36

= 58.56 < 80

In finance, the motive of investing is to generate a return from the invested asset. The return may additionally include an advantage (income) or a loss found out from the sale of an asset or an investment, unrealized capital appreciation (or depreciation), funding earnings that include dividends, hobby, or apartment income, or a mixture of capital advantage and income. The go-back can also include forex gains or losses due to modifications inside the foreign currency exchange fees.

funding is the determination of cash to purchase an asset to attain an increase in cost over a time period. investment requires a sacrifice of a few gift assets, consisting of time, money, or attempt. buyers commonly anticipate higher returns from riskier investments. while low-danger funding is made, the go-back is likewise normally low. in addition, the excessive hazard comes with a hazard of excessive losses.

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, which makes different lines of action appear to be occurring simultaneously, creates patterns that influence viewer expectations.

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Parallel editing is used for numerous action processes that might look like they are running concurrently.

However, it can also be ABABABABABABAB, as in silence of the lambs. Traditionally, it follows the pattern ABCABCABCABC.

Parallel editing:

When a video editor transitions between two various scenes, this is called parallel editing. In the film's main reality, the scenes happen simultaneously in two different places.

The Cross-cutting procedure referred to as simultaneous editing is that that best accentuates contrast.

Example:

Inception, a 2010 show hosted by Christopher Nolan, is arguably the most widely recognized instance of parallel editing in cinematography. I'm referring to the movie where the characters enter a dream within a dream.

Parallel editing and Crosscutting:

They may be equivalent, but they are not comparable things. Crosscutting is a broad phrase for every time two scenes are merged together, whereas Parallel editing addresses situations where two or more shots represent parallel and actively demonstrate place at the same time.

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a factor that causes overhead costs is called a blank . multiple choice question. predetermined overhead rate manufacturing cost cost object cost driver

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As a fact one of the factors that causes overhead costs is cost driver .By identifying the cost drivers for overhead costs, a company can better understand how to control and reduce its overhead expenses.

Overhead costs refer to indirect costs that are not directly tied to the production of a product or the delivery of a service. Examples of overhead costs include rent, utilities, insurance, and property taxes.

A cost driver is a factor that causes overhead costs to increase or decrease. It is an activity or event that triggers an increase or decrease in overhead costs. For example, the number of machine hours used in a factory might be a cost driver for indirect labor costs, while the number of customer orders might be a cost driver for indirect materials costs.

By identifying the cost drivers for overhead costs, a company can better understand how to control and reduce its overhead expenses. This information can be used to make informed decisions about resource allocation, process improvement, and cost containment.

In summary, a cost driver is a factor that drives the amount of overhead costs incurred by a company, and understanding the cost drivers is essential for effective management of overhead costs.

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Suppose that the nearby campers impose a cost of $300 on you and your roommate. If they had to move to a campsite where they could make as much noise as they wished, they would incur a cost of $100. Think of this as the cost of having to physically pack up their stuff and hike to another site. If they stayed and had to be quiet and not disturb you, they would incur a cost of $200. The park rules specify that whoever arrived first has a right to an undisturbed camping spot. Which of the following outcomes would be consistent with the Coase theorem?

Answers

The following outcomes would be consistent with the Coase theorem: they would move, as the cost to keep quiet would be more than the cost to move.

What is Coase theorem?

The Coase theorem is an ideology that states that under some conditions, property rights can reduce adverse effects.

If an economic distribution or outcome is subject to downsides, one can use Coase's theorem to assess its economic performance. The trading leads to Pareto efficient outcomes regardless of how property is first allocated or who owns the property rights.

The following outcomes would be consistent with the Coase theorem: they would move, as the cost to keep quiet would be more than the cost to move.

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FILL IN THE BLANK Generally speaking, in terms of ethics, the next generation entering business will find a world that's _____ than the one encountered by the previous generation.

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The next generation entering business will face a more difficult environment in terms of ethics than the one that the preceding generation did.

The required details for ethics in given paragraph

Business ethics is a kind of applied ethics or professional ethics that addresses moral or ethical dilemmas that could occur in the workplace. It is applicable to both the behavior of specific persons and large organizations, and it covers all facets of business conduct. These moral principles come form people, official pronouncements made by organizations, or the legal system. The guiding principles for a business are these customs, beliefs, ethical standards, and unethical behaviors.

Modern organizational standards, values, and norms that guide a person's actions and behavior within a corporate organization are referred to as business ethics.

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Take Viv Vitamins each day to increase your energy levels and lose weight. Is this an example of desire-based or fear-based advertising?
Choose the answer.

Question 16 options:

fear-based


desire-based

Answers

Explanation:

Vitamins minerals helps us to be healthy

which of the following activities do not characterize an epidemiologic approach managerial epidemiology

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The study of cancer incidence in populations distinguishes the observational studies technique in contrast toward the clinical approach.

The estimated global prevalence of the disease (percentage) caused by environmental factors is 25%-33%.

At the moment, the amount of time considered necessary to double population of the planet is approximately 43.

The most rapid effect is obtained through intravenous routes of exposure.

The population at risk refers to individuals in the community who are likely to develop a condition or illness.

The portal of entry through into body, the obtained dosages of the chemical, the exposure period and independent responsiveness all influence the accumulation and toxic effects of a chemical present in the body.

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                               "Complete question"

Which of the following activities characterizes the epidemiologic approach (as opposed to the clinical approach)?

A. Description of a single individual's symptoms

B. Study of cancer occurrence in populations

C. Treatment of a patient with lung cancer

D. Diagnosis of a disease in a single individual

E. A, C, D

three years ago, joseph invested $12,200.00. today, he has $17,000.00. if joseph earns the same annual rate implied from the past and current values of his invsetment, then in how many years from today does he expect to have exactly $36,500.00

Answers

So Joseph expects to have $36,500.00 in approximately 9 years and 5 months from today. To solve this problem, we can use the formula for compound interest:

A = P * (1 + r/n)^(nt)

Where:

A = final amount

P = principal amount (initial investment)

r = annual interest rate

n = number of times the interest is compounded per year

t = number of years

We can rearrange this formula to solve for t:

t = (log(A/P)) / (log(1 + r/n))

We know the following values:

P = $12,200.00

A = $36,500.00

n = 1 (assuming the interest is compounded once a year)

We can use the final amount and initial amount to find the annual interest rate:

r = (A/P)^(1/t) - 1

We can use the formula for the time t, substituting the values for P, A, and r:

t = (log(36,500.00 / 12,200.00)) / (log(1 + r))

Plugging in the values, we find that t = approximately 9.05 years.

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(b) Express Investments has evaluated six investments and has the following information about them: PROJECT INITIAL PROFITABILITY IRR OUTLAY (Tsh.) (i) (ii) (iii) A ​

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An investment is an asset or item acquired to generate income or appreciation.

What is the meaning of Investment?

A purchase made with the hope of earning income or experiencing capital growth is referred to as an investment. The phrase "appreciation" refers to a rise in an asset's worth over time. When someone invests in a product, they do not intend to use it for immediate consumption but rather as a means of generating money in the future.

Equity and debt are the two basic categories into which investments can be divided. Typically, equity investments are made in a variety of stock options. When you invest in debt, your money is placed in money market instruments.

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which of the following characteristics would make an individual more likely to improve personal characteristics associated with an entrepreneurial mindset?

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Here are some possible characteristics that may make an individual more likely to improve personal characteristics associated with an entrepreneurial mindset open-mindedness, self-motivation, and adaptability. Here option D is the correct answer.

Open-mindedness: Open-minded individuals are more likely to be receptive to new ideas and be willing to take risks and try new things. Self-motivation: Individuals who are self-motivated and driven are more likely to be proactive and take the initiative to pursue their goals.

Adaptability: Individuals who are adaptable and able to adjust to change are more likely to be successful in navigating the challenges and uncertainties of starting a new business.

Resilience: Individuals who are resilient and able to bounce back from setbacks are more likely to persist in the face of adversity and overcome obstacles in their entrepreneurial journey.

Complete question:

Which of the following characteristics would make an individual more likely to improve personal characteristics associated with an entrepreneurial mindset?

A - open-mindedness

B - self-motivation

C - adaptability

D - all of these

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the is defined as the payments to the owner plus the change in a security's value expressed as a fraction of the security's purchase price.

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The rate of return is defined as payments to owner plus the change in security's value expressed as fraction of the security's purchase price.

What is rate of return?

The gain or loss of an investment over a specific time period is known as the Rate of Return (ROR). In other terms, the rate of return is the increase (or decrease) in value over the cost of an initial investment, usually given as a percentage. When the ROR is positive, the investment is said to have made money, and when the ROR is negative, it has lost money. Be aware that the regular rate of return refers to the gain or loss of an investment over a chosen period of time, given as a percentage. The return on investment over a year is measured by the annualized ROR, commonly referred to as the compound annual growth rate (CAGR).

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A company's human resource team wants to identify the factors that affect the productivity of the company's employees. In this scenario, which of the following is an example of a hypothesis that suggests a negative relationship between the variables?
A) Employees who drink coffee have the same productivity as those who do not drink coffee.
B) Employees who work longer hours tend to have low productivity.
C) Employees who are closely supervised tend to have high productivity.
D) Employees who listen to music are likely to have high productivity.

Answers

A hypothesis that shows a negative link between the variables in this situation is (B) "workers who work long hours are likely to have low productivity."

What is a human resource team?

The HR (Human Resources) department, in its most basic form, is a team in charge of managing the employee life cycle (i.e., recruiting, hiring, onboarding, training, and terminating employees) and handling benefits administration.

A human resources (HR) department handles tasks related to human resource management, including recruiting, hiring, onboarding, and providing ongoing assistance for new hires.

Its duties include looking over resumes. maintaining a record of personnel data.

Payroll processing, job description authoring, workplace policy creation, and benefit procurement are all common tasks in HR administration.

So, (B) "Workers who work longer hours tend to have low productivity" is a hypothesis that demonstrates a negative relationship between the variables in this scenario.

Therefore, a hypothesis that shows a negative link between the variables in this situation is (B) "workers who work longer hours are likely to have low productivity."

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Myca Corp. has a project with the following cash flows. What is the value of the cash flows today assuming an annual interest rate of 9.7 percent? Yearcash Flow 2 3 4 $1,760 2,210 2,535 2,545

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The value of the cash flow today assuming an annual interest rate of 9.7 percent $7,118.44. The term cash flow describes the outflow and inflow of money in a business.

A cash flow is a physical or digital transfer of funds. The word cash flow is typically used to represent payments that are anticipated to take place in the future, are therefore unknown, and need to be predicted with cash flows. A cash flow in its restricted sense is a payment, particularly from one banking system account to another. However, it is common to use cash flow in a broader meaning to describe payments made to or received from a firm, enterprise, or financial product. Value, interest rate, and liquidity are only loosely correlated with cash flows. The increased operating cash flow that a company obtains as a result of taking on a new project is known as incremental cash flow. If the project is approved, the company will experience an increase in cash flow, which is known as a positive cash flow. A project should receive funding from an organization if the additional cash flow is positive.

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select those items considered fringe benefits that people working for a company are likely to receive, but a sole proprietor has to develop on his own.

Answers

Items that employees of a company are likely to receive as fringe benefits but that a solo proprietor must procure on his own are:

a pension schemehealth insurance premiumscompensated time off for illness or vacation

What other advantages does the firm provide its staff?

Any non-wage payment or benefit given by businesses to their employees is referred to as a fringe benefit (such as retirement programs, profit-sharing plans, paid time off, and insurance policies for unemployment, life, and health). Laws may require it, firms may give it unilaterally, or it may be obtained through collective bargaining.

What sorts of extra benefits are offered to employees?

Some of these benefits include worker's compensation, medical leave, unemployment insurance, and health insurance. Access to these ancillary benefits must be provided to all employees, according to the law. The employees feel more secure about their financial situation and jobs because to this.

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when a cap rate used with income capitalization is high, the following relationship with sales price exists:

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The answer is when a cap rate used with income capitalization is high, the following relationship with sales price exists "risk and cap rate are higher, the sales price is usually lower".

This is generally true. If the cap is high, this usually indicates a higher level of risk in the investment and therefore the selling price is usually lower to reflect this additional risk.

A higher cap rate is a tool for measuring the return on an investment, and when this rate is higher, it often indicates a riskier investment. So when the risk of an investment is high, the selling price is usually lower to limit the additional risk.

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this substance in manufactured drawing or painting media allows particles of pigment to be shaped (for dry media) or suspended in fluid (for liquid media):

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This product, made for drawing or painting media, enables the shaping of pigment particles (for dry media) or their suspension in a liquid (for liquid media) Binder.

Some of them, such as tapioca flour, sucrose, lactose, microcrystalline cellulose, polyvinylpyrrolidone, and other starches, are also utilized in the manufacture of tablets for pharmacology. Lactose powder, tapioca starch (cassava flour), sucrose powder, and microcrystalline cellulose are all tablet binders.

In order to provide structural stability, materials are formed into a cohesive whole using a binding agent, also known as a binder. In the process of chemically or mechanically hardening, binding agents bind fibers, filler powder, and other materials together.

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______ resources are organizational assets that are difficult to identify and account for and are typically embedded in unique routines and practices.

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Tacit resources are organizational assets that are difficult to identify and account for and are typically embedded in unique routines and practices.

Tacit resources are intangible assets that are inherent to an organization and are based on the knowledge, skills, and experience of its employees. These resources are not easily transferable to other organizations, as they are often embedded in the day-to-day operations and culture of the organization. Examples of tacit resources include organizational routines, processes, and relationships, as well as the knowledge and expertise of individual employees. Tacit resources can provide organizations with a significant competitive advantage, as they are unique to each organization and can be difficult to imitate. They play a critical role in innovation, problem-solving, and the development of new products and services. However, despite their importance, tacit resources can be difficult to measure and manage.

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according to the efficient-market hypothesis, information about which of the following is embedded in a stock price?

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The following is embedded in a stock price C) fully reflects all available relevant information.

What is efficient market hypothesis?

The efficient market hypothesis (EMH), also referred to as the efficient market theory, is a theory that claims that share prices accurately reflect all available information and that it is difficult to consistently generate alpha.

Equities always trade at their fair value on exchanges, according to the EMH, making it impossible for investors to buy undervalued stocks or sell them for exorbitant prices.

The only way an investor can earn larger returns is by making riskier bets, as it should be impossible to outperform the market as a whole through excellent stock selection or market timing.

The proper question is "According to the efficient market hypothesis, the current price of a financial security A) is the discounted net present value of future interest payments. B) is determined by the highest successful bidder. C) fully reflects all available relevant information. D) is a result of none of the above."

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In each of the following cases, determine how supply or demand shifts and how the equilibrium changes.
a. Smartphones: Microchips used in smartphones become less costly to produce. As a result, the
supply of
supply of and demand for
demand for
smartphones increase(s), causing the equilibrium price to rise, fall, or remain unchanged
fall
rise, fall, or remain unchanged
rise
and the equilibrium quantity to rise
rise
fall
rise, fall, or remain unchanged

Answers

The decrease in the cost of producing microchips leads to an increase in both the supply and demand of smartphones. This causes the equilibrium price to fall and the equilibrium quantity to rise.

Supply and demand are two of the most important concepts in economics. They refer to the quantity of a good or service that consumers are willing and able to buy (demand) and the quantity of a good or service that producers are willing and able to sell (supply).

In the case of smartphones, if the cost of producing microchips used in these devices decreases, the supply of smartphones will increase. This shift in the supply curve to the right leads to a decrease in the price and an increase in the quantity of smartphones sold.

This can be represented mathematically by a decrease in the price, P, and an increase in the quantity, Q. The new equilibrium will be at a lower price and a higher quantity compared to the original equilibrium.

However, as the price of smartphones decreases, the demand for them will also increase. This is due to the fact that consumers are more willing to purchase the smartphones when the price is lower.

The demand curve will shift to the right, causing a further decrease in the price and an increase in the quantity. The new equilibrium will be at an even lower price and a higher quantity than before.

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Complete Question:

In each of the following cases, determine how supply or demand shifts and how the equilibrium changes.

a. Smartphones: Microchips used in smartphones become less costly to produce. As a result, the supply of and demand for smartphones increase(s), causing the equilibrium price to rise, fall, or remain unchanged and the equilibrium quantity to rise, fall, or remain unchanged

which of the following are recommended steps in proofreading? -correct problems with the writing style, spelling, and grammar. -read sentences from the viewpoint of the audience -read each sentence more than once

Answers

All of the following steps are recommended in proofreading:

A: Correct problems with the writing style, spelling, and grammar.

B: Read sentences from the viewpoint of the audience.

C: Read each sentence more than once.

Proofreading is an important step in the writing process that involves checking and correcting errors in the text. It's essential to read each sentence more than once, as this helps to catch any mistakes or inconsistencies that may have been missed the first time. Reading from the viewpoint of the audience also helps to ensure that the text is clear and concise and that the message being communicated is effective. Correcting writing style, spelling, and grammar errors helps to improve the overall quality of the text and makes it more professional and polished.

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A ____ map is a visual representation of the four perspectives of the balanced scorecard that enables managers to communicate their goals so that everyone in the company can understand how their jobs are linked to the overall objectives of the organization. The person who made it was Kaplan and Norton. Shows cause and affect links by which specific improvements creates specific outcomes.

Answers

A strategy map is visual representation of four perspectives of balanced scorecard that enables managers to communicate their goals so that everyone in company can understand how their job are linked to objective.

What is a manager?

A manager is a person responsible for overseeing and leading a group of individuals in an organization towards achieving a common goal. They are responsible for setting objectives, developing and implementing strategies, delegating tasks, and making decisions that impact the work of their team. Managers also provide support, guidance, and feedback to their team members, and serve as a link between their team and upper management. Additionally, managers are often responsible for ensuring that their team operates within the guidelines and policies set by the organization, and that they are adhering to all applicable laws and regulations. Effective management requires strong communication skills, leadership abilities, problem-solving skills, and the ability to motivate and inspire others.

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jacqueline has been selling 8,000 t-shirts per month for $9.00. when she increased the price to $11.00, she sold only 5,000 t-shirts. which of the following best approximates the price elasticity of demand?

Answers

The price elasticity of demand measures the responsiveness of the quantity demanded of a good or service to a change in its price.

It can be calculated as follows:

Price Elasticity of Demand = (Percent Change in Quantity Demanded) / (Percent Change in Price)

First, we need to calculate the percent change in quantity demanded:

Percent Change in Quantity Demanded = (New Quantity - Original Quantity) / Original Quantity * 100%

Percent Change in Quantity Demanded = (5,000 - 8,000) / 8,000 * 100%

Percent Change in Quantity Demanded = -37.5%

Next, we need to calculate the percent change in price:

Percent Change in Price = (New Price - Original Price) / Original Price * 100%

Percent Change in Price = (11.00 - 9.00) / 9.00 * 100%

Percent Change in Price = 22.22%

Finally, we can calculate the price elasticity of demand:

Price Elasticity of Demand = (-37.5%) / (22.22%) = -1.68

So, the price elasticity of demand is approximately -1.68, which indicates that the quantity demanded of the t-shirts is relatively price inelastic.

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Your dormitory roommate plays loud music most of the time. However, you would prefer more peace and quiet. You suggest that she buy some headphones. She responds that although she would be happy to use headphones, she has many other things that she would prefer to spend her money on right now. You discuss this situation with a friend who is an economics major. The following exchange takes place.Him: How much would it cost to buy headphones?You: $15.Him: How much do you value having some peace and quiet for the rest of the semester?You: $30.Him: It is efficient for you to buy the headphones and give them to your roommate. You gain more than you lose. The benefit exceeds the cost. You should do that.You: It just is not fair that I have to pay for the headphones when I am not the one making the noise.a. Which parts of this conversation contain positive statements and which parts contain normative statements?1. Positive:2. Normative:

Answers

Positive: The statement "It would cost $15 to buy headphones" is a positive statement because it describes a factual observation about the cost of headphones.

Normative: The statement "It is efficient for you to buy the headphones and give them to your roommate. You gain more than you lose. The benefit exceeds the cost. You should do that." is a normative statement because it expresses a value judgment about what should be done. The statement "It just is not fair that I have to pay for the headphones when I am not the one making the noise" is also a normative statement because it expresses an opinion about fairness.

Positive statements describe what is, while normative statements express what ought to be. In this conversation, the positive statements are the statements about the cost of headphones, while the normative statements are the statements about what is efficient and what is fair.

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1. Suppose a nation is currently producing at a point inside its production possibilities frontier. What do we know? a. The nation is producing beyond its capacity b. The nation is producing an efficient combination of goods. *c. The nation is not using all available resources and is inefficient. d. The nation is experiencing an influx of immigrants

Answers

The correct answer to the question above is option C. "The nation is not using all available resources and it is inefficient."

If a nation is producing at a point inside the production possibilities frontier, it means they not using all available resources, or is using inferior technology, or both. So there's a potential for the nation to increase its production. When a nation produces at a point inside the production possibilities it means that there's a production inefficiency. Production inefficiency means when the resources of an economy are underutilized and there can be an improvement.

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