Horrible Gadget Company (a perfect competitor) presents the following data. The current market price is $10 per gadget. Horrible's average variable cost (at the profit maximizing quantity) is 12. What advice do you give Horrible Gadget Company?a. To continue production of gadgets.b. To lower the price of its gadgets.c. To shut down.d. To raise the price of its gadgets.
Answers
The best advice for Horrible Gadget Company is to (c) shut down
Based on the given information, it appears that Horrible Gadget Company is currently experiencing a loss as their average variable cost ($12) is higher than the market price ($10) per gadget. In this scenario, the company is not covering its variable costs, let alone its fixed costs, and therefore should not continue production of gadgets in the short run.
The best course of action for Horrible Gadget Company would be to shut down production temporarily in the short run and minimize their losses. By shutting down, they can avoid incurring any further variable costs. However, it is important to note that in the long run, the company may need to consider adjusting their production process or finding ways to reduce their variable costs to remain profitable.
Lowering the price of its gadgets or raising the price of its gadgets is not a feasible option for Horrible Gadget Company in this scenario. Lowering the price would further decrease their revenue and increase their losses, while raising the price would result in even fewer sales and further decrease their revenue.
Therefore, the best advice for Horrible Gadget Company is to shut down production temporarily and re-evaluate their production process to reduce their variable costs in the long run.
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Related Questions
I WILL GIVE BRAINLIEST!!!
A wholesaler-especially one that promotes as well as physically distributes
products or that has an exclusive agreement is often called a
O A distributor
B. manufacturer's sales branch
O C. broker
D. drop shipper
Answers
Answer:
A . Distributor
Explanation:
I just had this question lol >.<
- mark me brainliest :0
A distributor acts as a link in the supply chain or distribution channel between a manufacturer, who produces a product, and an entity further down the line. The downstream company can either be a wholesaler or retailer, known as a value-added reseller (VAR).
Thus, option A is Correct.
What is the distributor's procedure?A distributor purchases products from a producer and sells them to customers, occasionally via stores in the distribution channel. Distributors can sell goods directly to consumers or to other firms, depending on the good or service.
A distributor is a company that buys non-competing products or product lines and resells them to customers directly. The majority of distributors also provide a range of services, including service, technical support, and warranty protection. Distributors are essential in assisting manufacturers in reaching markets that they would not otherwise be able to approach.
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While Joe doesn't consider himself _____, he does think it is important to shed light on the unethical practices occurring within the industry.
Answers
Answer:
maybe heroic
Explanation:
While Joe doesn't consider himself HEROIC, he does think it is important to shed light on the unethical practices occurring within the industry.
While Joe doesn't consider himself heroic, he does think it is important to shed light on the unethical practices occurring within the industry.
What are unethical practices?Conduct that deviates from social norms or is perceived adversely by the public is referred to as "unethical behavior." Ethical behavior is the exact opposite of unethical behavior.
A wide range of acts that people may take in their personal or professional life that are seen adversely by their society or some elements of it are referred to as "unethical behaviors" by people.
The following are some general obstacles to problem-solving: failing to preserve high moral standards Morally objectionable actions include illegal and unethical business practices and immoral and unethical behavior.
Thus, While Joe doesn't consider himself heroic,
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chegg what would starbucks roe have been if it has accrued a 3700 million litigation liability and expense
Answers
In finance, Return on Equity (ROE) is a measure of a company's profitability and efficiency. It indicates how well a company is using its shareholders' equity to generate profits. To calculate ROE, we need two values: net income and shareholders' equity.
In your question, you mentioned "Starbucks ROE" and a "3700 million litigation liability and expense." However, the given information is not sufficient to calculate the ROE for Starbucks accurately.
To calculate ROE, we would need the net income and shareholders' equity values for Starbucks. Additionally, the litigation liability and expense you mentioned are not directly related to calculating ROE. These factors may affect a company's financial performance, but more information is needed to determine the impact on ROE accurately.
If you have any additional information or specific numbers related to Starbucks' net income and shareholders' equity, please provide them so that I can assist you further.
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which one of these is an example of a necessary debt
Answers
Answer:
An example of unnecessary debt is when you change your clothes and don't really need on a high-interest score. Thus option C is correct.
What is unnecessary debt?
An unnecessary debt can be caused by a variety of issues such as expensive life events, having children, or moving to a new house. It may also be due to poor money management. The debt is due to those things that are not needed and hence are unnecessary.
Explanation:
Which city-states had democracy?
Answers
Answer:
the city states are, Athens, Sparta, Thebes, Corinth, and Delphi.
Explanation:
method of evaluating capital investment proposals that ignore present value
Answers
The method of evaluating capital investment proposals that ignore present value is called the Payback Period.
The payback period is a simple capital budgeting method that assesses the amount of time required for the business to recoup its initial investment from the cash inflows produced by the project. This method does not consider the time value of money, which is a flaw. This approach examines how long it would take to recoup the original investment rather than the cash flows from the investment, making it a non-scientific approach.
Example
Suppose a company invests $100,000 in a new computer system, and the system saves the company $20,000 per year. The payback period is calculated as follows:
Payback period = Investment cost / Annual cash inflow
Payback period = $100,000 / $20,000
Payback period = 5 years
Therefore, the investment's payback period is 5 years.
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Cash dividends of $85,000 were declared during the year. Cash dividends payable were $10,000 and $15,000 at the beginning and end of the year, respectively. The amount of cash for the payment of dividends during the year is
Answers
The amount of cash for the payment of dividends during the year is $80,000
What is the cash amount paid as dividends in the year?
The task at hand is to determine the amount of actual cash paid to shareholders as dividends in the year under review, which takes into consideration the amount of cash dividends declared in the year, the amount of dividends outstanding at the beginning of the year as well as the amount as at the end of the year.
$10,000 was unpaid at the beginning of the year, when declared during the year, which is $85,000 is added to it, we have $95,000 which the shareholders are expecting from the company.
The fact that at the end of the year, only $15,000 is unpaid means that out of the $95,000, $80,000 has been paid leaving us with an unpaid balance of just $15,000
cash dividends paid=beginning unpaid+ declared amount-amount unpaid at the end of the year
cash dividends paid=$10,000+$85,000-$15,000
cash dividends paid=$80,000
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Free trade areas that have a common external trade policy, but don't allow for the free movement of people and capital are called
Answers
Answer:
common markets
Explanation:
What are wholesalers
Answers
Answer:
Wholesaler is a company that earns money by buying large quantities of goods then selling in bulk to smaller businesses.
Hope this help :)
Answer:
Wholesalers are companies or businesses that buy large quantities of products from other companies, then resell the products in bulk or individually.
Explanation:
Examples; Costco Wholesale & Sam's Club
Why would My future job be a flight attendant
Answers
Answer:
if you like to travel and be on planes and get that bag then be a flight attendant :) do what you want to!
Explanation:
Preparing and posting journal entries; preparing a trial balance LO Elizabeth Wong has strong problem-solving skills and loves to work with people. After becoming a Certifi Professional (CHRP) and working for several companies, she opened her own business, HR Solutions. She transactions during May 2020: May 1 Invested $70,000 in cash and office equipment that had a fair value of $43,000 in the business. 1 Prepaid $12,900 cash for three months' rent for an office. 2 Made credit purchases of office equipment for $21,500 and office supplies for $4,300. Completed a report on hiring solutions for a client and collected $7,500 cash. 6 9 Completed a $15,500 project implementing a training program for a client, who will pay within 30 days. 10 Paid half of the account payable created on May 2. 19 Paid $7,000 cash for the annual premium on an insurance policy. 22 Received $12,300 as partial payment for the work completed on May 9. 25 Developed a performance review process for another client for $4,780 on credit. 25 Paid wages for May totalling $31,500. 31 Withdrew $4,500 cash from the business to take a trip to Paris in June. 31 Purchased $1,350 of additional office supplies on credit. 31 Paid $1,350 for the month's utility bill. Required:
Answers
The trial balance prepared from the ledger is given below : H R Solutions Trial Balance May 31, 2020Account Titles Debit Credit Cash $57,800Accounts Receivable $27,780Office Supplies $5,950Prepaid Rent $12,900Prepaid Insurance $7,000Office Equipment $64,500 Accumulated Depreciation—Office Equipment $0Accounts Payable $17,100Salaries Expense $31,500Utilities Expense $1,350Service Revenue $35,780Total $143,680 $143,680
Journal Entries: Date Accounts Debit Credit May 1 Cash $70,000Office Equipment $43,000Capital $27,000May 1Prepaid Rent $12,900Cash $12,900May 2Office Equipment $21,500Accounts Payable $21,500May 2Office Supplies $4,300Accounts Payable $4,300May 6Cash $15,500Service Revenue $15,500 May 9 Accounts Receivable $15,500Service Revenue $15,500May 10Accounts Payable $10,750Cash $10,750May 19Prepaid Insurance $7,000Cash $7,000May 22Cash $12,300Accounts Receivable $12,300May 25Accounts Receivable $4,780Service Revenue $4,780May 25Salaries Expense $31,500Cash $31,500May 31Withdrawals $4,500Cash $4,500May 31Office Supplies $1,350Accounts Payable $1,350May 31Utilities Expense $1,350Cash $1,350The journal entry is the first step in the accounting cycle, where all financial transactions are recorded systematically in chronological order. The transactions were recorded in chronological order in the journal. Posting is the second step in the accounting cycle, where journal entries are transferred to accounts in the ledger, thus creating a record of all transactions that occurred during the period. In the third stage of the accounting cycle, a trial balance is prepared, which is a list of all accounts with their balances at a specific date. The trial balance, which is a listing of the ending balances in all accounts at a specific date, serves as a tool to determine whether the total debits and credits are equal, ensuring that the accounting records are correct and in balance.
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Managerial accounting information is generally produced for internal information purposes and would be considered to be ____________.
Answers
Managerial accounting information is generally produced for internal information purposes and would be considered to be confidential or internal-use information.
Managerial accounting information is focused on providing financial data and analysis to internal stakeholders within an organization, such as managers, executives, and decision-makers. Its purpose is to support planning, controlling, and decision-making processes within the company.
This internal-use information includes detailed financial reports, budgeting data, cost analysis, performance metrics, and forecasts. Unlike financial accounting, which is primarily concerned with providing external stakeholders with information for financial reporting and compliance purposes, managerial accounting is tailored to the specific needs of internal users.
It helps managers make informed decisions, evaluate performance, allocate resources effectively, and monitor the financial health and operational efficiency of the organization.
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how can formal business documnets help managers solve problems
Answers
Managers can fix problems by providing clear, precise information about them.
Who is the managers?A manager is someone who is in charge of managing or monitoring the business. He or she is an acting leader who helps set objectives and allocate responsibilities. He or she also exemplifies specific leadership traits that support the efficient running of the business.
The manager will be assisted in evaluating the situation and providing complete information by the formal business document.
They will be better able to handle the problem as a result. In addition, these documents will give them the precise information that the manager would need.
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Ricky is working for Matt, a buyer client, who is interested in a property at which the listing agent offers compensation to cooperating agents. The listing agent has offered Ricky or any cooperating agent additional compensation if the transaction closes within 40 days. Is this ethical
Answers
Onsider a static game with the following payoff matrix:lrt10, 615, 4b5,030, 5. Find all nash equilibria in pure strategies for this game.
Answers
The Nash equilibrium in pure strategies for this game is when Player 1 chooses strategy L and Player 2 chooses strategy R, resulting in the outcome (10, 6).
To find the Nash equilibrium in pure strategies, we need to identify the strategies that are best responses for each player given the strategies chosen by the other player.
In this case, when Player 1 chooses strategy L, Player 2's best response is to choose strategy R since the payoff of 6 is higher than the payoff of 4. Similarly, when Player 2 chooses strategy R, Player 1's best response is to choose strategy L since the payoff of 10 is higher than the payoff of 5. Therefore, the Nash equilibrium is (L, R) with payoffs of (10, 6).
In order to find the Nash equilibrium in pure strategies, we need to identify the combination of strategies where no player can unilaterally deviate and improve their own payoff. In the given payoff matrix, we can examine each cell and compare the payoffs for each player.
If Player 1 chooses strategy L, Player 2's best response is to choose strategy R because 6 is greater than 4. Similarly, if Player 2 chooses strategy R, Player 1's best response is to choose strategy L because 10 is greater than 5. These are the best responses for each player given the strategies chosen by the other player.
Therefore, the Nash equilibrium occurs when both players choose their best responses simultaneously. In this case, the Nash equilibrium is (L, R) with payoffs of (10, 6). This means that if both players choose these strategies, neither player has the incentive to deviate from their strategy unilaterally since they are already maximizing their payoffs.
To summarize, the Nash equilibrium in pure strategies for this game is when Player 1 chooses strategy L and Player 2 chooses strategy R, resulting in the outcome (10, 6). This is the stable outcome where neither player can improve their payoff by changing their strategy alone.
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This is a case study adopted from the book of Crispina R. Corpuz. "Reyes Department Store" Based on the review of the store, Nicole, the general manager concluded that one of the first things she has to attend involves developing the job description of her store supervisor. During her first few weeks on the job, Nicole found herself asking one of her supervisors, Jet, why was he violating what she knew to be part of the company policies and procedures. Jet’s only response was that he was not aware of that policy and was not aware it was part of his job. Nicole knew that a job description, along with a set of standards and procedures that specify what was to be done and how to do it, will go a long way toward alleviating the problem. Discuss the process that Nicole should follow to solve this problem.
Answers
In order to Nicole to solve this problem, she must reevaluate the job description and company policies and procedures, and then include certain specifications that will make employees more aware of their roles within the company.
Nicole is the general manager of the Reyes Department Store, so she acted correctly when she noticed inconsistent conduct by one of her supervisors and identified the problem.
She then realized that she should carry out a job description along with standards and procedures that specify what should be done and how to do it.
A job description is a document that specifies the responsibilities and activities of each organizational role.
Its objective is to adapt professionals to their work position according to their profile and optimize people management, creating greater standardization of processes and agility in decisions.
Therefore, job descriptions must always be monitored and revised so that new needs are included and so that employees can carry out their role effectively.
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The following data was given for Cathy's Cakes: Sales $4,000 Operating Expenses $600. Sales Returns & Allowances $200. Sales Discounts $400 Compute Gross Profit: Beginning Inventory $1,500 Purchase $1,000 Ending Inventory $500
Answers
The gross profit for Cathy's Cakes is $1,400.
Given data for Cathy's Cakes are as follows:
Sales = $4,000Operating Expenses = $600Sales Returns & Allowances = $200Sales Discounts = $400
Beginning Inventory = $1,500Purchase = $1,000
Ending Inventory = $500Gross profit can be calculated using the formula:
Gross Profit = Sales - (COGS + Operating Expenses)
where COGS = Cost of Goods Sold COGS can be calculated using the formula:
COGS = Beginning Inventory + Purchases - Ending Inventory
Thus, substituting the given values, we getCOGS = $1,500 + $1,000 - $500 = $2,000
Now, substituting the values of sales, operating expenses, and COGS, we get
Gross Profit = $4,000 - ($2,000 + $600) = $1,400
Therefore, the gross profit for Cathy's Cakes is $1,400.
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Isa bought goods on credit from Ammar. The goods had a list price of $1000 but Ammar allowed Isa trade discount of 10% and cash discount of 4%.
How much did Isa have to pay Ammar?
Answers
Answer:
$600 correct me if im wrong
Any one duty of Human Resource Manager
Answers
Recruitment: Search for new qualified people
explanation: it means like to get new people to join company if there are vacancies
Any recommendations of how to convince my parents to get me a dog?
Answers
Answer:
ok so u have to get a pet rock first u name it u take it out to go to the bathroom and everything u would do with a dog and it shows your parents you're ready for one u have to show them that u know how to take care of one first
Explanation:plz mark me branlyiest this worked for me so yea hope it helped
When riding his bicycle, Jeremy always consumes bottles of water and granola bars in fixed proportions. His utility function is
Answers
=min{,12}u=min{W,12G}, where W is the number of bottles of water and G is the number of granola bars
Economics mimics worth or value using the concept of utility. Its application has drastically changed over time. Moral philosophers like Jeremy Bentham and John Stuart Mill were among the first to use the phrase to describe pleasure or happiness as a part of the utilitarianism hypothesis. The phrase has been modified and used to refer to a utility function that represents a single consumer's preference ordering over an option set but is not comparable across individuals within neoclassical economics, which governs contemporary economic theory. Although this definition of utility is more stringent than the original, moral judgments find it less useful (and disputed) because it is subjective and depends more on choice than on pleasure. Think about a few different options.
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PLS HELP BRAINLYYYYY:Timon is typing an email to several family members to share information about an event he's planning. What part of the email would he use to let people know why he's contacting them
Answers
The part of the email that Timon would use to let people know why he is contacting them is the Subject line.
What are parts of an email ?There are several parts of an email and one of them is the subject line. This line summarizes the point of the email and therefore tells the recipient the reason for the email being sent to them.
Timon can therefore use the subject line to tell his family members about the event that he is planning so that they can have an idea of the direction of the email before they read further.
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1) A small firm employs nine workers. The wages it pays to these workers are $200, $220, $280, $300, $310, 320, $330, $350 and $390 a week. What is the average wage paid?
Answers
solution :
sum of dollar =200+220+280+300+310+320+330+
350+390
Now,
average =total sum of all dollar
total sum of worker
=2370
9
=263.333#
The GUI is an index used by the OS to manage computer files,
O False
O True
Answers
Answer: I think it's true
Drag the tiles to the correct boxes to complete the pairs.
Match the different resources to the scenarios where they are used.
natural resources
human resources
man-made resources
entrepreneurship
A power plant uses an Industrialdesign power generator to generate large-scale
electricity for the neighborhood.
A power plant uses coal to heat water and then converts it into steam, which
then turns the turbines.
>
A power plant is set up by a group of industrialists as they come together to
solve the power crisis in their nelghborhood.
A power plant employs local workers who work in shifts to keep the plant
running for most of the day.
Answers
Answer:
1. Man-made
2. natural resources
3. entrepreneurship
4. Human resources
Explanation:
Natural resources are those which are present in the environment and are limited in number.
The man-made resources are those where a power generator is used to initiate the electricity on large scale.The natural resources are those where the water is heated from coal and then converting it to steam for running the turbines.The entrepreneurship is represented when the industrialists come together to solve the power crisis of their own neighborhood.The human resources are those where the workers are working in shifts to keep their plants in running condition.Therefore, the given resources are matched with the scenarios in which they are used.
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according to a survey of managers, how long do most business professionals spend reading and responding to emails each week? (see figure.) multiple choice question. fewer than 2 hours between 2 and 5 hours between 6 and 10 hours more than 15 hours
Answers
According to a survey of managers, most business professionals spend between 6 and 10 hours each week reading and responding to emails.
Communication tool in business:
Email has become a primary mode of communication in the business world, allowing professionals to exchange information, collaborate, and stay connected with colleagues, clients, and stakeholders.
It offers a convenient and efficient way to transmit messages, documents, and other essential information within and across organizations.
Volume of emails:
The survey's results indicate that professionals are dealing with a considerable volume of emails, requiring a substantial portion of their workweek.
The exact number of emails received and processed can vary based on factors such as job role, industry, organizational size, and personal work habits.
However, the time commitment indicated in the survey suggests that managing email communication is a significant aspect of many professionals' work responsibilities.
Reading and responding to emails:
Reading and responding to emails involve various activities, including reviewing incoming messages, composing replies, forwarding information, and managing attachments.
These tasks require time and attention to ensure effective communication and timely responses. Additionally, professionals may also need to prioritize and organize their email inbox, flagging important messages, and categorizing them for efficient workflow management.
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What does a management accountant need to do before he or she can take the exam to become a certified management accountant?
A. complete 60 hours of graduate coursework
B. Have two hours of professional experience
C. Complete 30 hours of graduate coursework
D. Have five years of professional experience
Answers
Answer:
Have Two Years of professional experience
Explanation:
looked it up
2. If changes happen during September or October, which expenses will you be able to change most easily? Give an example of how you could make a change. (5 points)
Answers
The correct answer to this open question is the following.
Although the question does not provide any context, references, or give options, we can say that if changes happen during September or October, the expenses you will be able to change most easily are according with the provisions projected in the annual plan, the budget, compared with the monthly expenses.
That is why a company has to elaborate on a good financial plan and overseeing the projections and true sales of the marketing and sales plan. This is important to take the proper control of expenses and revenues. Depending on the volume of sales during September and October, you can decide what kind of changes or adjustments to make in the following months.
Answer:
I would be able to change the variable expenses most easily. Such as food, clothing, and discretionary spending.
I could make the change by
Budgeting in October:
food from spending -$70 back to -$60
cut clothes off since I bought some already from -$40 to $0
budget my discretionary spending from -$60 back to -$40
This would increase my savings to $230
Nations with few natural resources demonstrate greater economic growth rates than OPEC countries". At the same time nations with many natural resources do not show such economic growth. Discuss this in terms of Japan, South Korea, Taiwan, Nigeria, Saudi Arabia and Venezuela. Provide data related to these countries natural resources and economic growth rates and also provide reasons behind their greater/lower rate of economic growth. You may utilize the attached spreadsheet in the analysis.
Comparison Factor High Economic Growth/Low Natural Resource Abundance Avg Low Economic Growth/Low Natural Resource Abundance Avg
Japan Indonesia S. Korea Saudi Arabia Nigeria Venezuela
Gross domestic product $ (1980)
Gross domestic product $ (1995)
Average annual GDP growth (1980-90)
Average annual GDP growth (1990-95)
Population (1980)
Population (1995)
Average annual population growth % (1985-95)
GNP per capita $ (1995)
GNP per capita PPP $ (1995)
GNP per capita growth annual % (1985-95) 0.00% 0.00%
Human development index (1995) 0.00 0.00
Adult illiteracy % of people 15 and above (1995)
Answers
It is generally believed that countries with few natural resources perform better economically than countries with many natural resources, such as those in the Organization of Petroleum Exporting Countries (OPEC).
A look at the statistics of Japan, South Korea, Taiwan and Nigeria, Saudi Arabia, and Venezuela provides evidence that this is the case. Nations with few natural resources demonstrate greater economic growth rates than OPEC countries." At the same time, nations with many natural resources do not show such economic growth. This can be proved by the following factors: Japan, South Korea, and Taiwan have very few natural resources. Yet, in the last 40 years, all three have had GDP growth rates of 6% or higher, while Nigeria, Saudi Arabia, and Venezuela, which have abundant natural resources, have had GDP growth rates below 5%. Oil is Saudi Arabia's most abundant natural resource, accounting for nearly 75% of its GDP. Nigeria is a country that is rich in oil and other natural resources. Both nations have a long-standing history of political and economic instability that has prevented them from growing at the same pace as other developing nations. In addition to political instability, these countries' over-reliance on oil has made their economies particularly vulnerable to fluctuations in oil prices. The events of 1973 and 1986, when oil prices fell significantly, demonstrated how vulnerable OPEC countries are to sudden fluctuations in oil prices. Saudi Arabia and Venezuela, for example, had to undertake significant economic reforms in order to stabilize their economies in the wake of these changes. As a result, the national economies are very volatile, with rapid growth spurts being followed by recessions. Japan, South Korea, and Taiwan have, on the other hand, developed diversified economies that are not solely dependent on a single natural resource. Japan, South Korea, and Taiwan have used their lack of natural resources as a motivation to become more innovative. They have, as a result, prioritized education and technological advancements in order to keep their economies growing at a rapid pace.
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True or false: if the sales comparison approach cannot be developed because of a lack of sales data, the cost approach cannot be developed either. true false
Answers
This is very true, no explanation