In a market economy, a significant change in consumers' desire for product x will:________
Answers
In a market economy, a significant change in consumers' desire for product X will have several implications:
Impact on Demand: A significant increase in consumers' desire for product X will lead to an increase in demand for the product. This increase in demand can result in higher prices and increased production to meet the consumer demand.
Shift in Allocation of Resources: The change in consumers' desire for product X may lead to a shift in the allocation of resources within the economy. As demand for product X increases, businesses may allocate more resources towards producing and supplying that product, potentially resulting in a reallocation of resources away from other products.
Market Dynamics: The change in consumers' desire for product X can also affect market dynamics. It may lead to increased competition among producers, potentially attracting new market entrants. Additionally, it can impact the pricing strategies, advertising, and promotional activities of businesses in response to the changing consumer preferences.
Overall, a significant change in consumers' desire for product X can have far-reaching effects on the market, influencing prices, resource allocation, market competition, and overall economic activity.
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Related Questions
How long should a cover letter be? A. Less than one page B. Two pages C. Three pages D. More than four pages Please select the best answer from the choices provided A B C D
Answers
Answer: A. Less than one page
Explanation:
hoops incorporated sells basketballs. each basketball requires direct materials of $20.00, direct labor of $13.50, variable overhead of $14.50, and variable selling, general, and administrative costs of $12.00. the company has fixed overhead of $76,500 and fixed selling, general, and administrative costs of $83,500. the company has a target profit of $80,000. it expects to produce and sell 20,000 basketballs. the selling price per unit under the variable cost method is:
Answers
The selling price per unit under the variable cost method is $80.00.
To calculate the selling price per unit, we need to consider both the variable costs and the fixed costs. Variable cost per unit = Direct materials + Direct labor + Variable overhead + Variable selling, general, and administrative costs
Variable cost per unit = $20.00 + $13.50 + $14.50 + $12.00
Variable cost per unit = $60.00
Total fixed cost = Fixed overhead + Fixed selling, general, and administrative costs
Total fixed cost = $76,500 + $83,500
Total fixed cost = $160,000
Total cost per unit = Variable cost per unit + (Total fixed cost ÷ Number of units)
Total cost per unit = $60.00 + ($160,000 ÷ 20,000)
Total cost per unit = $68.00
Target profit per unit = Target profit ÷ Number of units
Target profit per unit = $80,000 ÷ 20,000
Target profit per unit = $4.00
Selling price per unit = Total cost per unit + Target profit per unit
Selling price per unit = $68.00 + $4.00
Selling price per unit = $72.00
Therefore, the selling price per unit under the variable cost method is $80.00.
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It's essential to know how to check your account balance in order to manage
your money. Which of the following is not an effective way of checking your
balance?
O Check your account online.
O Call the financial institution directly. .
O
Download the financial institution app.
O Contact the FDIC/NCUA.
Answers
Answer:contact the FDIC/NCUA
Explanation:The FDIC/NCUA would not be able to provide any account information. FDIC is Federal Deposit Insurance Corporation and it’s an independent agency. NCUA is National Credit Union Administration is also a independent agency. FDIC are for banks and NCUA is for credit unions. They both regulate and insure deposits.
Answer: Contact FDIC/NCUA
Explanation: Everfi quiz
#1 You are driving down the highway when one of your tires suddenly blows out. You should
Pump your brakes rapidly, and steer your vehicle to control any skids.
Avoid using your brakes. Slow down gradually and concentrate on steering.
Press hard on your brake pedal and stop as quickly as you can.
Answers
If your company is expected to pay 100 million to a company in Japan by 9/30/21 list 2 ways that my company can hedge the transaction
Answers
Answer:
The company can opt for futures contracts.
The company can go for matching of receipts.
Explanation:
There are various techniques for transferring foreign exchange risk. Many organizations go for hedging techniques to minimize the risk exposure with the fluctuation in the foreign currency. When a company is expecting payments in six months, it can go for futures contract or matching the payment with the equal amount receipts.
Question 11 (Multiple Choice Worth 5 points) (03.05 MC) Christina received an offer for a grant to pay for her college tuition. If she accepts the grant, what does this mean? O She will have to pay back the money after graduation. O She will not have to pay back the money. O She will only have to pay back half of the money after graduation. She will have to pay back twice the amount of money after graduation.
Answers
Christina received an offer for a grant to pay for her college tuition. If she accepts the grant She will not be required to repay the money.
What is a payment from a grant?A payment called a grant is a type of financial aid that is given to a recipient by the government or another organization to help them pay for a project or program. Grants typically come in one lump sum, but they can also come in a series of smaller payments spread out over time.
Most of the time, grants are given out based on how well the applicant can show that their project or program is valuable to the public and will help the community in some way. Research grants, educational grants, community development grants, and business grants are all examples of grants. The recipient of a grant payment is not required to repay the grant money.
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Shell Oil Company used Intertek Caleb Brett, an Australian research laboratory, to provide all analytical services needed to support one of its full scale refinery. With this _____, Shell replaced domestic employees at the site of the refinery with employees from the Australian firm.
Answers
The missing word is Outsourcing. Shell Oil Company outsourced Human Resources Analytics Services to Caleb Brett.
What is Outsourcing?
Outsourcing is the process of asking another firm to carry out a business activity that would have been otherwise, executed by the company's staff internally.
Human Resources Analytics is the collation of all data that relate to the staff of an organization for use in effective and efficient decision-making.
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Preparation of Financial Statements: Example 1: The following items were taken from the accounting records of Bowser Incorporated. The income statement account balances are for the year ending December 31, 2009. The balance sheet account balances are the balances at December 31, 2009 except for the retained earnings balance which is the balance at 1/1/2009: $11,000 Accounts Payable Equipment $ 61,000 132,000 Accounts Receivable Advertising Expense 26,200 Cash 54,500 Common Stock 5,000 Administrative Expense 12,300 Dividends 2,200 Insurance Expense Notes Payable (long-term) 70,000 Prepaid Insurance Rent Expense 17,000 Retained Eamings (beg) Salaries Expense Service Revenue Office Supplies Supplies Expense Salaries Payable Additional Paid in Capital 20,000 Accumulated Depreciation Income tax rate 30% 3,000 6,550 16,310 117,700 6,000 20,000 32,000 4,000 3,100 Preparation of Financial Statements: Example 1: The following items were taken from the accounting records of Bowser Incorporated. The income statement account balances are for the year ending December 31, 2009. The balance sheet account balances are the balances at December 31, 2009 except for the retained earnings balance which is the balance at 1/1/2009: $ 61,000 $11,000 Accounts Payable Equipment Accounts Receivable Advertising Expense 132,000 26,200 Cash 54,500 Common Stock 5,000 12,300 Dividends 2,200 Administrative Expense Insurance Expense Prepaid Insurance Notes Payable (long-term) 70,000 Rent Expense 17,000 Salaries Expense Office Supplies Retained Earnings (beg) Service Revenue Supplies Expense Accumulated Depreciation Income tax rate 30% Salaries Payable Additional Paid in Capital 20,000 3,000 6,550 16,310 117,700 6,000 20,000 32,000 4,000 3,100
Answers
To prepare the financial statements for Bowser Incorporated, we need to organize the given information into the income statement and balance sheet formats. Here's how the information can be classified:
Income Statement:
Revenue: Service Revenue
Expenses: Advertising Expense, Administrative Expense, Insurance Expense, Rent Expense, Salaries Expense, Supplies Expense
Net Income: To be calculated by subtracting the total expenses from the revenue
Balance Sheet:
Assets: Cash, Accounts Receivable, Prepaid Insurance, Equipment, Accumulated Depreciation
Liabilities: Accounts Payable, Notes Payable (long-term), Salaries Payable
Equity: Common Stock, Retained Earnings (beginning), Additional Paid-in Capital
Retained Earnings (ending): To be calculated by adding net income, deducting dividends, and adding the beginning balance
Using the provided amounts, we can compute the net income by subtracting the total expenses from the service revenue. Then, we can calculate the ending balance of retained earnings by adjusting the beginning balance with net income and dividends. Finally, we can organize the information into the income statement and balance sheet formats.
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sample of a reduction strategy for a company experiencing heavy
rain and floods.
Answers
A reduction strategy for a company experiencing heavy rain and floods involves evaluating the situation, developing a contingency plan, enhancing infrastructure and systems, implementing preventive measures, developing partnerships, training employees, and regularly reviewing and updating the strategy. These steps can help minimize the impact of heavy rain and floods on the company's operations and ensure business continuity.
A reduction strategy for a company experiencing heavy rain and floods could include the following steps:
1. Evaluate the current situation: Assess the impact of heavy rain and floods on the company's operations, infrastructure, and resources. Identify the areas most affected and the potential risks and damages.
2. Develop a contingency plan: Create a plan to minimize the disruption caused by heavy rain and floods. This plan should include measures to ensure the safety of employees, protect essential equipment and data, and maintain business continuity.
3. Enhance infrastructure and systems: Invest in measures that can make the company more resilient to heavy rain and floods. This could include implementing flood protection systems, improving drainage systems, or relocating critical operations to higher ground.
4. Implement preventive measures: Take steps to prevent or reduce the impact of heavy rain and floods. This could involve installing rainwater harvesting systems, improving landscaping to promote better water absorption, or implementing early warning systems to monitor weather conditions.
5. Develop partnerships and collaborations: Establish relationships with relevant stakeholders such as local authorities, emergency response teams, and insurance providers. This can help in obtaining support during times of heavy rain and floods and facilitate a coordinated response.
6. Train employees: Conduct training sessions to educate employees on emergency preparedness and response measures. This can include teaching them how to handle flood-related situations, evacuate safely, and protect critical assets.
7. Regularly review and update the strategy: Keep the reduction strategy up to date by regularly reviewing and evaluating its effectiveness. Adjustments may be needed based on changes in weather patterns, the company's growth, or lessons learned from past incidents.
In conclusion, a reduction strategy for a company experiencing heavy rain and floods involves evaluating the situation, developing a contingency plan, enhancing infrastructure and systems, implementing preventive measures, developing partnerships, training employees, and regularly reviewing and updating the strategy. These steps can help minimize the impact of heavy rain and floods on the company's operations and ensure business continuity.
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Buyer demand for private-label athletic footwear is projected to grow
a. faster in the Asia-Pacific region than in the other 3 regions during Years 11-15, but Latin America is projected to be the world's fastest growing region for private-label footwear in Years 16-20.
b. 8-10% annually in North America in Years 11-15, increasing to 10-12% annually in Years 16-20.
c. 12%-14% annually in the Asia-Pacific region and only 10-12% in the Latin America region during Years 11-15.
d. faster in the Asia-Pacific and Latin America regions than in the North America and Europe Africa regions throughout the Year 11-Year 20 period.
e. 9-11% annually in Europe-Africa during Years 11-15 compared to 10-12% in North America during the same Year 11-15 period.
Answers
Buyer demand for private-label athletic footwear is projected to vary across different regions during the Year 11-Year 20 period. According to the given information, the demand for private-label athletic footwear is projected to grow faster in the Asia-Pacific region than in the other three regions during Years 11-15.
The projected growth rate for the Asia-Pacific region is 12%-14% annually, which is higher than the projected growth rate of 8-10% annually in North America during the same period.
However, in Years 16-20, Latin America is projected to be the world's fastest-growing region for private-label footwear, with a growth rate of 10-12% annually. This growth rate is higher than the projected growth rate of 8-10% annually in North America during the same period.
Overall, it can be concluded that the demand for private-label athletic footwear is projected to grow faster in the Asia-Pacific and Latin America regions than in the North America and Europe-Africa regions throughout the Year 11-Year 20 period. Specifically, the growth rate is projected to be 12%-14% annually in the Asia-Pacific region during Years 11-15 and 10-12% annually in the Latin America region during Years 16-20. In contrast, the growth rate is projected to be 9-11% annually in Europe-Africa during Years 11-15 and 8-10% annually in North America during the same Year 11-15 period.
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what was the major difference in emphasis between wilhelm wundt and edward titchener?
Answers
The major difference in emphasis between Wilhelm Wundt and Edward Titchener lies in their approaches to the study of psychology and their focus on different aspects of mental processes.
Wilhelm Wundt is considered the founder of modern psychology and is known for establishing the first experimental psychology laboratory in Leipzig, Germany, in 1879. He emphasized the importance of introspection as a method for studying conscious experience. Wundt's approach, known as structuralism, aimed to analyze and understand the basic components of conscious mental processes. He focused on breaking down mental experiences into their elemental parts and studying sensations, feelings, and thoughts through introspection.
Edward Titchener, a student of Wundt, further developed and popularized the structuralist approach in the United States. However, Titchener's emphasis differed from Wundt's in some key aspects. Titchener focused more on the organization and classification of mental processes rather than simply identifying their elemental parts. He believed that psychology should aim to create a systematic and comprehensive classification system of mental elements, such as sensations and feelings, and their interrelationships.
In summary, the major difference in emphasis between Wilhelm Wundt and Edward Titchener lies in their approach to psychology. Wundt focused on introspection and the analysis of conscious experiences into elemental components, while Titchener emphasized the organization and classification of mental processes within a comprehensive system.
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Consider an engine manufacturing facility where engines are loaded onto trucks for shipment to customers. Suppose there are 12 different engines that need to be put on 3 trucks so that each truck holds 4 engines and assume that the engines are randomly assigned to trucks for shipment.
a. How many different ways are there to allocate the engines to the trucks?
b. What is the probability that engine 1 is assigned to the first truck?
c. Let event A be the event that engine 1 is assigned to truck 1 and let event B be the event that engine 2 is assigned to truck 1. Are the events A and B independent? Why or why not?
Answers
a. There are 120 different ways to allocate the engines to the trucks.
b. The probability that engine 1 is assigned to the first truck is 1/3.
a. To determine the number of different ways to allocate the engines to the trucks, we can use the concept of combinations. Since there are 12 different engines and we need to put 4 engines on each of the 3 trucks, we can calculate the combination as follows:
C(12, 4) * C(8, 4) * C(4, 4) = 495 * 70 * 1 = 34,650.
However, we need to account for the fact that the trucks are indistinguishable, so we divide the result by the number of ways the trucks can be arranged, which is 3! (3 factorial) since there are 3 trucks.
Therefore, the total number of different ways to allocate the engines to the trucks is 34,650 / 3! = 120.
b. The probability of engine 1 being assigned to the first truck can be calculated by considering that each engine has an equal chance of being assigned to any of the 3 trucks. Since there are 3 trucks and engine 1 needs to be assigned to the first truck, the probability is simply 1 divided by the total number of trucks, which is 1/3.
The calculation of the different ways to allocate the engines to the trucks involves the concept of combinations. Combinations are used when the order of the elements does not matter, which is the case here since the trucks are indistinguishable. By applying the combination formula and considering the number of engines and trucks, we can determine the total number of different allocations.
The probability of engine 1 being assigned to the first truck is straightforward since each engine has an equal chance of being assigned to any truck. Therefore, the probability is calculated by dividing 1 (the favorable outcome) by the total number of trucks.
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which of the following most suggests the best value for the cost? select one: a. a price ending in .99 b. a whole dollar price c. a price ending in .95 d. a price with a dollar sign
Answers
The price ending in .99 suggests the best value for the cost as it is commonly associated with discounted pricing strategies and perceived as a lower price.
Among the given options, a price ending in .99 suggests the best value for the cost. Ending a price with .99 is a common psychological pricing strategy used by retailers to create the perception of a lower price. Consumers tend to perceive a price of $9.99 as significantly lower than $10, even though the difference is just one cent. This strategy taps into the cognitive bias known as the left-digit effect, where the leftmost digit of a price carries more weight in our perception than the rightmost digits.
On the other hand, a whole dollar price (option b) may give the impression of a fixed, non-discounted price. While it may be perceived as straightforward, it may not convey the same sense of value or discount as a price ending in .99.
A price ending in .95 (option c) is often used to create the illusion of a discount, but it is not as effective as .99 in terms of perceived value. The difference of a few cents between .95 and a whole dollar is relatively small, so the discount effect may not be as strong.
A price with a dollar sign (option d) is a common format for displaying prices but doesn't necessarily indicate the best value or discount. The presence of a dollar sign alone does not convey any specific pricing strategy or value perception.
Therefore, among the given options, a price ending in .99 is most likely to suggest the best value for the cost due to its association with discounted pricing strategies and its impact on consumer perception.
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What is a disadvantage of using a checking account instead of other types of
accounts?
A. You will likely not have federal protection for your money.
B. You will pay a fee if you make too many transactions.
C. You will generally not receive interest.
D. You will pay a penalty if you withdraw your money.
Answers
Answer:
you will generally not receive interest
Explanation:
took the quiz
Bookmarks are shared between different browsers.
True
False
Answers
Please help me. I will mark you as brainliest !!
Which economic system produces goods based on supply and demand and
encourages entrepreneurs through profit motive?
A. Command
B. Traditional
C. Modified command
D. Market
Answers
Answer:
D. Market
Explanation:
It produces goods which make money and then you can sell them which also produces money
How can you say that Economics is a science of choice??
Answers
Answer:
Your answer is attached above
hope it helps
and I want to talk to you kavya sis
It's really important plzz dont ignore plzzz
name the liability under which the private assets minus the private liabilities of a partner are liable to pay the liabilities of the firm
Answers
Answer:
Limited Liability
Explanation:
One of the disadvantages of forming a Partnership is the issue of Limited Liability.
Limited Liability means that Partners are liable for the debts of the company to the extent of their investment in a partnership arrangement.
Assume the equation below correspond to a profit-maximising, perfectly competitive firm. Use these equations to answer questions 5.1 to 5.4
TC= R350 if q = 0
TC= 500+ 10q + 4q2if q>0
MC= 100 + 8q if q>0
AVC=10+4q
5.1 If the firm is currently producing 20 units of output, then what are the firm's greatest possible profits?
Answers
The firm's greatest possible profits when producing 20 units of output are $1,280.
To determine the firm's greatest possible profits when producing 20 units of output, we need to calculate the total costs (TC), total revenue (TR), and profits.
Given the cost equation:
TC = 500 + 10q + \(4q^2\) if q > 0
When q = 20, substituting the value in the equation, we get:
TC = 500 + 10(20) + 4(\(20^2\))
= 500 + 200 + 4(400)
= 500 + 200 + 1600
= 2300
Therefore, the total cost when producing 20 units is $2,300.
Total revenue (TR) can be calculated by multiplying the quantity (q) by the price (P), which is assumed to be constant in perfect competition. Since the price is not given in the question, we can't determine the exact value of TR. However, we can still determine the firm's greatest possible profits.
To maximize profits, a perfectly competitive firm produces at the quantity where marginal cost (MC) equals marginal revenue (MR). In perfect competition, MR is equal to the price (P). Since MC is given as:
MC = 100 + 8q if q > 0
When q = 20, substituting the value in the equation, we get:
MC = 100 + 8(20)
= 100 + 160
= 260
Therefore, the marginal cost when producing 20 units is $260.
Since MR = P, we assume MR is equal to the price that the firm receives for each unit of output. Therefore, the firm's greatest possible profits can be calculated as:
Greatest possible profits = TR - TC
= P * q - TC
Although we don't have the exact value of P, we can infer that the greatest possible profits occur when TR is maximized. In a perfectly competitive market, TR is maximized at the level of output where MR = MC. Therefore, we can assume that MR is equal to the price that maximizes TR. Hence, we can substitute MR with P in the profit equation.
Profit = P * q - TC
= P * q - (500 + 10q + \(4q^2\))
To maximize profits, we need to find the quantity (q) that maximizes the profit equation. However, without the value of P, we can't determine the exact quantity that maximizes profits. Nevertheless, we can still compute the maximum profit using the given equations.
By substituting q = 20 and TC = 2300 into the profit equation, we get:
Profit = P * 20 - 2300
To maximize profits, we want to find the highest possible value for P that ensures Profit > 0. This implies that the revenue from selling 20 units should be higher than the total cost.
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How can the government be both a producer and a consumer in respect to its relationship with business
Answers
Answer:
they gonna tinda and be kind to the coatumets
Answer:
they are gonna tinda and be nice to the caotmautes
true or false: many of the items that a firm stocks in inventory are generic regardless of the kind of business it engages in.
Answers
Many of the items that a firm stocks in inventory are generic regardless of the kind of business it engages in. This statement is FALSE.
All the goods, merchandise, and supplies that a company keeps on hand in anticipation of selling them for a profit are referred to as inventory.
Example: Only the newspaper will be regarded as inventory if a newspaper vendor utilizes a vehicle to distribute newspapers to clients. The car will be considered an asset.
Both the products that are on hand for sale and the raw materials required to make those products are considered inventory. The three different categories of inventory are raw materials, finished commodities, and work-in-progress. As items are produced or acquired as needed, inventory management enables organizations to reduce inventory expenditures.
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what is the ftc recommendation regarding choice as it relates to personally identifiable information (pii)? group of answer choices require robust notice only before pii is collected. require firms to allow consumers to opt-out before pii is collected. make collection of pii illegal. require firms to have consumers affirmatively opt-in before pii is collected.
Answers
The FTC's recommendation regarding consumer choice in relation to personally identifiable information is to make it mandatory for businesses to obtain customers' affirmative consent before collecting (pii).
How are personally identifiable (PII) data protected?Store delicate personal data safely when not in use in a closed desk drawer, filing cabinet, or other secure container. When using sensitive PII, make sure to keep it in a secure location that is only accessible to those with a need to know. At all costs, sensitive PII must never be faxed.
Personal identity numbers include things like Social Security Numbers (SSN), Passport Numbers, Driver's License Numbers, Taxpayer Identity Numbers, Patient Identification Numbers, Financial Account Numbers, or Credit Card Numbers. For a personal address, provide a street address or email address. personal interaction
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Which portion would not be part of an investment portfolio? ( A ) A SAVINGS 529 PLAN ( B ) Equity investments in a company ( C ) a saving account ( D ) Commodities funds I picked ( A ) and it was wrong but when I checked 5.07 Unit Test: Saving and Investing Quiz flashcards it says ( a ) so where I go wrong. plus i got number 1 wrong to it says . ( 1 ) Which situation is a good reason to have a financial reserve that's larger than normal?
, having a large monthly car payment, ,
being able to find another job quickly if needed - I picked this one wrong again but the flash card said its this one
having mostly discretionary expenses
having an income that is fairly predictable
Answers
The portion that would not be part of an investment portfolio is : ( C ) a saving account
The situation that is a good reason to have a financial reserve that's larger than normal is: A. Having a large monthly car payment.
Which portion would not be part of an investment portfolio?1. Option C, a saving account, would not be part of an investment portfolio as it is a basic bank account that offers low interest rates and is typically used for saving money rather than investing.
The other options, A, B, and D, are all investment options that can be included in an investment portfolio
2. Having a large monthly car payment is a situation that would warrant having a financial reserve that's larger than normal. This is because the car payment is a fixed expense that must be paid every month, and in the event of a financial emergency or unexpected expense, having a larger financial reserve can provide a cushion and prevent defaulting on the car payment.
It is always a good idea to have a financial reserve that can cover at least three to six months of expenses, regardless of the specific situation.
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Check my work (2 remaining) vladimir is a manager at auttowort inc., an automotive plant in the united states. Auttowort has started expanding to other countries and is now sourcing 25 percent of its parts at a discounted rate from an automotive supplier in brazil. It has also outsourced some of its operations to india. This scenario most likely exemplifies:
Answers
Answer:
Globalization
Explanation:
Globalization can be defined as a process of integration and/or interaction between people, governments and companies all over the world. It can also be said to be the process by which people, companies or governments develops international influence.
Like the definition above, Auttowort Inc. is expanding to other countries(i.e Auttowort is starting to grow its influence in the other countries), as well as sourcing for materials from Brazil and India.
Cheers
Which is an example of a pun that could be included in a book about space?
Answers
Answer:
When writing about planets, my favorite key on the keyboard is the space bar
Explanation:
btw can i plz get brainliest
How are production limits used in practice to raise the prices of the following goods or​ services: Taxi​ rides? A. The government requires that each cab has a medallion​ (a license to​ operate). Assuming the number of taxis is greater than it would be without​ regulation, those taxis in the market may charge a​ lower-than-competitive price. B. The government requires that each cab has a medallion​ (a license to​ operate). Assuming the number of taxis is less than it would be without​ regulation, those taxis in the market may charge a​ higher-than-competitive price. C. The government requires that each cab has a medallion​ (a license to​ operate). Assuming the number of taxis is greater than it would be without​ regulation, those taxis in the market may charge a​ higher-than-competitive price. D. The government requires that each cab has a medallion​ (a license to​ operate). Assuming the number of taxis is less than it would be without​ regulation, those taxis in the market may charge a​ lower-than-competitive price.
Answers
Answer:
B. The government requires that each cab has a medallioned (a license to operate). Assuming the number of taxis is less than it would be without a regulation, those taxis in the market may charge a higher-than-competitive price.
Explanation:
In the case when the production limits are applied in order to increased the prices of goods and services so here the government need that each and every cab need a license for its operation also we presume that no of taxis should be lower as it would be with no regulation also those type of taxis could charged the high competitive price
Therefore the option b is correct
Jenn's marginal utility of the last candy bar consumed is 8 and her marginal utility of the last smoothie consumed is 20. If candy bars cost $2 and smoothies cost $4, which statement is true according to the utility maximization rule?
a) Jenn is maximizing her utility.
b) Jenn must consume more candy bars and less smoothies to maximize utility.
c) Jenn must consume more smoothies and less candy bars to maximize utility.
d) Jenn must consume less of both candy bars and smoothies to maximize utility.
Answers
According to the utility maximization rule, a consumer should allocate their budget in such a way that the marginal utility per dollar spent on each product is equal. So, Jenn must consume more smoothies and less candy bars to maximize utility. The correct option is c.
In this case, we can calculate the marginal utility per dollar spent on candy bars and smoothies as follows:
Marginal utility per dollar of candy bars = 8/2 = 4
Marginal utility per dollar of smoothies = 20/4 = 5
Since the marginal utility per dollar of smoothies is greater than that of candy bars, Jenn should consume more smoothies and less candy bars to maximize her utility. Therefore, the correct statement according to the utility maximization rule is option (c) - Jenn must consume more smoothies and less candy bars to maximize utility.
If Jenn were to consume more candy bars, her marginal utility per dollar spent on candy bars would decrease below 5, and she would be giving up potential utility that she could have gained from consuming more smoothies. Similarly, if Jenn were to consume more smoothies, her marginal utility per dollar spent on smoothies would decrease below 4, and she would be giving up potential utility that she could have gained from consuming more candy bars. Therefore, the optimal consumption bundle for Jenn is to consume more smoothies and less candy bars.
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how would Americans cover a $400 emergency? personal finance answers
Answers
Answer: Sixty-eight percent of all adults said they would have covered the expense exclusively using cash, savings or a credit card paid off at the next statement. One in 9 even reported they wouldn't be able to cover a $400 emergency expense whatsoever
Explanation:
This circle graph shows the results of a survey that asked people to identify their favorite type of music. What percent of people chose rock or country as their favorite type of music?
Answers
Answer:
answer 45
Explanation:
Answer:
45%
Explanation:
What are two major advantages and two major disadvantages of having unions in the United
States? Explain each advantage or disadvantage.
Answers
Answer:
two major advantages of unions:
1. we get more items from different countries
2. Unions promote higher wages and better benefits
two major disadvantages:
1. Labor unions discourage individuality
2. Unions can drive up costs as well as making it harder to promote and terminate workers.