Materials: Total Variance = (Actual Quantity x Actual Price) - (Standard Quantity x Standard Price)
Total Variance = (1,800 tons x $260/ton) - (1,780 tons x $262/ton)
Total Variance = $468,000 - $465,160
Total Variance = $2,840 unfavorable
Price Variance = (Actual Quantity x Actual Price) - (Actual Quantity x Standard Price)
Price Variance = (1,800 tons x $260/ton) - (1,800 tons x $262/ton)
Price Variance = $468,000 - $471,600
Price Variance = $3,600 favorable
Quantity Variance = (Actual Quantity x Standard Price) - (Standard Quantity x Standard Price)
Quantity Variance = (1,800 tons x $262/ton) - (1,780 tons x $262/ton)
Quantity Variance = $471,960 - $465,160
Quantity Variance = $6,800 unfavorable
Labor:
Total Variance = (Actual Hours x Actual Rate) - (Standard Hours x Standard Rate)
Total Variance = (4,600 hours x $14/hour) - (4,640 hours x $13.50/hour)
Total Variance = $64,400 - $62,560
Total Variance = $1,840 unfavorable
Price Variance = (Actual Hours x Actual Rate) - (Actual Hours x Standard Rate)
Price Variance = (4,600 hours x $14/hour) - (4,600 hours x $13.50/hour)
Price Variance = $64,400 - $62,100
Price Variance = $2,300 favorable
Efficiency Variance = (Actual Hours x Standard Rate) - (Standard Hours x Standard Rate)
Efficiency Variance = (4,600 hours x $13.50/hour) - (4,640 hours x $13.50/hour)
Efficiency Variance = $62,100 - $62,160
Efficiency Variance = $60 favorable
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in a competitive industry where firms are making economic losses, responses a the industry ceases to exist.the industry ceases to exist. b the industry will expand with more firms.the industry will expand with more firms. c market price will fall.market price will fall. d some firms in the industry may exit the industry.
In a competitive industry where firms are making economic losses, it is likely that some firms will exit the industry over time. So, correct option is D.
This is because firms that continue to operate at a loss will eventually run out of resources and be forced to shut down. As some firms exit the industry, the remaining firms will have a larger market share and may be able to increase prices, which could improve their profitability.
As firms exit the industry, the supply of goods or services in the market will decrease, which can result in an increase in market price due to the reduced competition. This can help to restore profitability for the remaining firms in the industry.
However, if the market price remains low, more firms may continue to exit the industry until the supply of goods or services meets the demand at the new equilibrium price.
Overall, the long-term outcome in a competitive industry where firms are making economic losses is likely to be a reduction in the number of firms in the industry, with the remaining firms potentially experiencing improved profitability.
So, correct option is D.
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You have started manufacturing tote bags from vintage fabrics. It cost you $12 to have each tote bag manufactured. You decide that you are going to sell them with a 50 percent markup. What will your retail price be? If you have the bags in your inventory for more than three months, you plan to mark down the selling price by 25 percent. What will the markdown price be?
Therefore, if the tote bags are in inventory for more than three months, the markdown price will be $13.50.
To calculate the markup, you will multiply the cost of manufacturing each tote bag ($12) by 50%, which is 0.50.
Markup = Cost of manufacturing tote bag x 50%
Markup = $12 x 0.50
Markup = $6
To determine the retail price, you will add the markup to the cost of manufacturing each tote bag.
Retail price = Cost of manufacturing tote bag + Markup
Retail price = $12 + $6
Retail price = $18
So your retail price will be $18 for each tote bag.
If the tote bags stay in your inventory for more than three months, you plan to mark down the selling price by 25 percent. To determine the markdown price, you will multiply the retail price ($18) by 25%, which is 0.25.
Markdown = Retail price x 25%
Markdown = $18 x 0.25
Markdown = $4.50
To determine the markdown price, you will subtract the markdown from the retail price.
Markdown price = Retail price - Markdown
Markdown price = $18 - $4.50
Markdown price = $13.50
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the following standards for variable manufacturing overhead have been established for a company that makes only one product: standard hours per unit of output 6.6 hours standard variable overhead rate $13.00 per hour the following data pertain to operations for the last month: actual hours 2,675 hours actual total variable manufacturing overhead cost $35,435 actual output 250 units what is the variable overhead efficiency variance for the month? multiple choice $13,985 u $13,325 u $660 u $21,450 f
The variable overhead efficiency variance for the month will be $13,325 unfavorable. Option B is correct.
Variable overhead efficiency variance can measures the difference between the actual hours worked as well as the standard hours allowed for the actual output, will be multiplied by the standard variable overhead rate.
The standard hours allowed for the actual output are calculated as follows;
Standard hours per unit of output × actual output = 6.6 hours per unit × 250 units = 1,650 hours.
Variable overhead efficiency variance = (Standard hours allowed - Actual hours) × Standard variable overhead rate
= (1,650 hours - 2,675 hours) × $13.00/hour
= -1,025 hours × $13.00/hour
= $13,325 unfavorable.
Therefore, the variable overhead efficiency variance for month is approximately $13,325 unfavorable.
Hence, B. is the correct option.
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--The given question is incomplete, the complete question is
"The following standards for variable manufacturing overhead have been established for a company that makes only one product: standard hours per unit of output 6.6 hours standard variable overhead rate $13.00 per hour the following data pertain to operations for the last month: actual hours 2,675 hours actual total variable manufacturing overhead cost $35,435 actual output 250 units what is the variable overhead efficiency variance for the month? multiple choice A) $13,985 B) $13,325 C) $660 D) $21,450."--
Reducing differences and tolerating differences are two strategies that are generally used to resolve functional conflicts.
True
False
The given statement, "Reducing differences and tolerating differences are strategies that are generally used to resolve functional conflicts." is false because Functional conflicts refer to conflicts that arise due to differences in opinions, viewpoints, or perspectives related to work tasks and goals.
In general, there are three main strategies for resolving functional conflicts: problem-solving, compromise, and collaboration. Reducing differences and tolerating differences are not effective strategies for resolving functional conflicts because they do not address the underlying issues that are causing the conflict.
Problem-solving involves finding a solution that meets the needs and interests of both parties. Compromise involves both parties giving up something in order to reach a mutually acceptable solution. Collaboration involves working together to create a solution that meets the needs and interests of both parties.
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hich are policy decisions that are politically expedient but are not economically appropriate? multiple select question. creating changes in aggregate demand large tax cuts during a time of economic prosperity increased government spending on pet projects preventing unnecessary economic fluctuations
The policy decisions are politically expedient but not economically appropriate mention below
A. Creating changes in aggregate demand.
B. Large tax cuts during a time of economic prosperity.
C. Increased government spending on pet projects.
These policy decisions are often seen as politically expedient but not necessarily economically appropriate as they may not be based on sound economic principles and can result in negative consequences in the long run.
Policy decisions are choices made by governments, organizations, or individuals to address specific issues or achieve certain goals. These decisions may involve the implementation of new laws, regulations, or procedures, or the allocation of resources such as funding, personnel, or technology. Policy decisions can have significant impacts on various aspects of society, including economic, social, environmental, and political systems
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Full Question: Which of the following policy decisions are politically expedient but not economically appropriate? (Select all that apply.)
A. Creating changes in aggregate demand.
B. Large tax cuts during a time of economic prosperity.
C. Increased government spending on pet projects.
D. Preventing unnecessary economic fluctuations.
Suppose company A stock is last time traded at 43. 26$, and our analysis shows that in one year from now,
its price would either increase or decrease by 35%. (i. E. D=0. 65, u=1. 35) Assume that risk-free rate is 1%
and the company pays no dividend in this time period.
1) What would be the payoff for a European Put Option written on Company A equity, with time to maturity
of 1 year, and strike price of 35$? Calculate the payoff for the up and down scenarios
The payoff for a European put option written on Company A equity with a strike price of $35 and time to maturity of 1 year is $0 for the up scenario and $6.94 for the down scenario.
Using the given values, we can calculate that the up and down scenarios for the stock price after one year would be
Up scenario $43.26 * 1.35 = $58.46
Down scenario $43.26 * 0.65 = $28.06
To calculate the payoff for a European Put Option with a strike price of $35 and time to maturity of 1 year, we need to compare the strike price to the stock price in each scenario.
Up scenario the option would not be exercised, as the stock price is above the strike price. The payoff would be $0.
Down scenario the option would be exercised, as the stock price is below the strike price. The payoff would be $35 - $28.06 = $6.94.
Therefore, the payoff for a European Put Option in this scenario would be $0 in the up scenario and $6.94 in the down scenario.
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at a price of $25, danielle buys 3 books per month. when the price decreases to $20, danielle buys 4 books per month. jason says that danielle's demand for books has increased. is jason correct?
Actually, Jason is incorrect. Danielle's book demand has not grown; rather, her amount demanded has increased as book prices have declined.
Demand refers to the entire relationship between the quantity of a good that buyers are willing and able to purchase at different prices. When the price of a good changes, the quantity demanded changes along the demand curve, but the overall shape of the demand curve does not change. The demand curve represents the relationship between the price of a good and the quantity of that good that buyers are willing and able to purchase at each price.
The demand curve is downward-sloping, reflecting the inverse relationship between price and quantity demanded. In this case, we can say that Danielle's quantity demanded of books has increased from 3 to 4 as the price has decreased from $25 to $20. However, her demand for books remains the same; that is, at higher prices, she is willing and able to buy fewer books, while at lower prices, she is willing and able to buy more books. This relationship is captured by the demand curve, which has not shifted in this scenario.
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a hot dog shortage has beset the country and the cost of hot dogs has doubled to $8. if jim has $20 to spend on beer and hot dogs, how will his utility change given this increase in the price of hot dogs?
If Jim values hot dogs and beer equally, then his utility will decrease, as he can no longer enjoy as many hot dogs for the same budget.
Assuming that Jim is willing to spend all of his $20 budget on beer and hot dogs, and he previously spent some portion of it on hot dogs and some portion on beer, his utility will depend on his preferences for beer and hot dogs.
Assuming that Jim originally bought both hot dogs and beer, the increase in the price of hot dogs will have the following effect:
Jim can now only buy 2 hot dogs instead of 4 with his $20 budget.
Jim can still buy the same amount of beer as before, since the price of beer has not changed.
If Jim values hot dogs and beer equally, then his utility will decrease, as he can no longer enjoy as many hot dogs for the same budget. However, if Jim values beer more than hot dogs, then his utility may not change, or may even increase, as he can still buy the same amount of beer and now has more budget to spend on it.
In general, the impact on Jim's utility will depend on his specific preferences and the relative importance he places on hot dogs and beer.
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Mutual interdependence among firms in an oligopoly means that: firms never practice price leadership. firms never form a cartel. it is difficult to know how firms will react to decisions of rivals. no formal agreement is possible among firms.
Mutual interdependence among firms in an oligopoly means that firms are highly reliant on each other in terms of pricing, output, and marketing decisions. This means that the actions of one firm can have a significant impact on the decisions of its competitors. In an oligopoly market, firms are highly aware of their competitors' behavior and strategies, and they react accordingly to maintain their market position.
It is difficult to know how firms will react to decisions of rivals in an oligopoly market, as each firm has its own unique strategy and goals. Due to this interdependence, firms may choose to either compete aggressively or cooperate with their competitors, depending on the situation.
However, it is unlikely that firms will form a formal agreement or cartel, as this is typically illegal and subject to heavy penalties. Instead, firms may engage in tacit collusion, where they coordinate their pricing and output decisions without explicitly agreeing to do so.
In an oligopoly market, firms may also practice price leadership, where one firm sets the price and the others follow suit. This can occur if one firm is considered a leader in the market and its competitors choose to follow its pricing strategy.
Overall, mutual interdependence in an oligopoly market creates a complex and dynamic environment, where firms must constantly adapt to the actions of their competitors to remain competitive.
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At Bargain Electronics, it costs $29 per unit ($16 variable and $13 fixed) to make an MP3 player at full capacity that normally sells for $50. A foreign wholesaler offers to buy 3,480 units at $27 each. Bargain Electronics will incur special shipping costs of $1 per unit. Assuming that Bargain Electronics has excess operating capacity, indicate the net income (loss) Bargain Electronics would realize by accepting the special order. (Enter negative amounts using either a negative sign preceding the number e. G. -45 or parentheses e. G. -45. )
Bargain Electronics would incur a net loss of $66,120 if they accept the special order.
To calculate the net income (loss) of Bargain Electronics, we need to compare the total revenue from the special order with the total cost of fulfilling that order, including the additional shipping costs.
The total revenue from the special order would be:
3,480 units x $27 per unit = $93,960
The total cost of fulfilling the special order would be:
Direct materials cost = 3,480 units x $16 per unit = $55,680
Direct labor cost = 0 (since excess operating capacity is available)
Variable overhead cost = 3,480 units x $16 per unit = $55,680
Fixed overhead cost = 3,480 units x $13 per unit = $45,240
Special shipping cost = 3,480 units x $1 per unit = $3,480
Total cost = $55,680 + $55,680 + $45,240 + $3,480 = $160,080
Therefore, the net loss Bargain Electronics would realize by accepting the special order would be:
Net loss = Total revenue - Total cost = $93,960 - $160,080 = (-$66,120)
So, Bargain Electronics would incur a net loss of $66,120 if they accept the special order.
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pervasive control plans: group of answer choices are unrelated to applications control plans increase the efficiency of applications control plans are a subset of applications control plans influence the effectiveness of applications control plans
Pervasive control plans are a subset of applications control plans and they influence the effectiveness of applications control plans.
They are designed to provide a framework for addressing risks that are not specific to individual applications, but rather pervasive throughout an organization's systems and processes. These control plans increase the efficiency of applications control plans by providing a standardized approach to managing common risks, such as access controls, data backup, and disaster recovery.
Therefore, the answer choice that best describes the relationship between pervasive control plans and applications control plans is that pervasive control plans are a subset of applications control plans and influence the effectiveness of applications control plans.
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When shopping for life insurance, the best strategy is to: a. follow your agent’s recommendations. they are the experts and it is the agent's job to make sure you get the products that are right for you. b. buy your coverage through your employer, if possible. c. figure out how much you need, then comparison shop using the web and other resources. d. wait until you are older so that you can buy a cheaper, shorter term policy. please select the best answer from the choices provided a b c d
The best strategy when shopping for life insurance is to: c. figure out how much you need, then compare shops using the web and other resources.
When shopping for life insurance, it is important to first determine how much coverage you need. This can be based on factors such as your income, financial responsibilities, and any dependents you have.
Once you have an idea of the coverage you need, use the internet and other resources to compare different life insurance providers and their policies. This will allow you to find the most suitable coverage at the best price for your specific needs.
While it is true that agents have expertise in the field, relying solely on their recommendations may not always result in the most suitable policy for your situation. Similarly, while buying coverage through your employer might be convenient, it may not provide the best coverage or pricing options.
Finally, waiting until you are older to purchase a policy can actually result in higher premiums, as life insurance rates tend to increase with age.
By taking the time to research and compare different options, you can ensure that you are making an informed decision when purchasing life insurance, ultimately selecting the policy that best fits your needs and financial situation.
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if the expeted inlation rate is 6.2% and you have an investment opportunity that pays 12%, what is the ral rate of interest on your investment
The real rate of interest on the investment is 5.8%.
The real rate of interest on the investment can be calculated using the Fisher equation, which takes into account the expected inflation rate and the nominal interest rate:
Real rate of interest = Nominal rate of interest - Expected inflation rate
Using the given values, we can calculate the real rate of interest as follows:
Real rate of interest = 12% - 6.2%
Real rate of interest = 5.8%
As a result, the real rate of return on investment is 5.8%.
The nominal interest rate on the investment is given as 12%. However, the actual return on the investment will be affected by the rate of inflation. Inflation reduces the purchasing power of money over time, which means that the nominal return on an investment may not necessarily reflect the true increase in value.
To account for the effects of inflation, we need to calculate the real rate of interest, which is the nominal rate of interest adjusted for inflation. The Fisher equation is commonly used to calculate the real rate of interest, by subtracting the expected inflation rate from the nominal interest rate.
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In the system characterized by an unstable equilibrium, the outcome of competition depends on what?.
In a system characterized by an unstable equilibrium, the outcome of competition depends on the initial population sizes of the two species. The option (C) is correct.
The competition is most significant component which influences to sizes of species. Intraspecific contests for the most part permit the collaboration between various species. such contest lead to decreases wellness of species and gives the capacity to duplicate youthful one.
Every single species inside the biological system involves a contest for vital air, food, and sanctuary. This causes an expansion in the size of the populace. unsteady harmony relies upon starting circumstances, criticism components, outer unsettling influences, transformation and advancement, and the time scales included.
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This question iis not complete, Here I am attaching the complete question:
In the system characterized by an unstable equilibrium, the outcome of competition depends on what?
A. The carrying capacities of the two species.
B. The competition coefficients (a) of the two species.
C. The initial population sizes of the two species.
D. The relative strength of competition between the two species.
In early-stage valuation, what factor are most influential in valuation?.
In early-stage valuation, the most influential factors in valuation are the startup's potential market size, the quality of the management team, the company's unique value proposition and competitive advantage, and the stage of development.
Potential market size is crucial because it determines the revenue potential of the company, which in turn affects its valuation. The quality of the management team is also important because investors want to see a team with the skills and experience necessary to execute the business plan and succeed in the marketplace.
The startup's unique value proposition and competitive advantage also have a significant impact on valuation. Investors are more likely to invest in companies that have a clear and differentiated value proposition that addresses a real customer need and provides a sustainable competitive advantage.
Finally, the stage of development is important because early-stage startups have different risk profiles and require different types of funding than more mature companies.
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Consider a market with two firms, Kellogg and Post, that sell breakfast cereals. Both companies must choose whether to charge a high price ($5. 00 ) or a low price ($3. 50 ) for their cereals. These price strategies, with corresponding profits, are depicted in the payoff matrix to the right. Kellogg's profits are in red and Post's are in blue. What is the cooperative equilibrium for this game? A. The cooperative equilibrium is for Kellogg to choose a price of $3. 50 and Post to choose a price of $5. 0. B. The cooperative equilibrium is for Kellogg and Post to both choose a price of $3. 50. C. The cooperative equilibrium is for Kellogg and Post to both choose a price of $5. 0. D. A cooperative equilibrium does not exist for this game. E. The cooperative equilibrium is for Kellogg to choose a price of $5. 00 and Post to choose a price of $3. 50
The cooperative equilibrium for Kellogg and Post to both choose a price of $3.50. This is because both firms can achieve higher profits by cooperating and setting a low cost, rather than competing and setting a high price. The correct option is B.
In game theory, cooperative equilibrium refers to a situation where players in a game cooperate to achieve a mutually beneficial outcome, even though they could potentially gain more by acting independently or competitively.
In the given scenario, Kellogg and Post are two firms that sell breakfast cereals, and they have to choose between two price strategies - charging a high price of $5.00 or a low price of $3.50. The payoff matrix shows the corresponding profits for each firm based on their pricing decisions.
To find the cooperative equilibrium, we need to identify a pricing strategy that would benefit both firms and result in a mutually profitable outcome. In this case, both Kellogg and Post can achieve maximum profits by choosing a low price of $3.50. This strategy is the best for both firms because they both earn higher profits ($6 million for Kellogg and $4 million for Post) than they would if they chose the high-price strategy.
Therefore, the correct option is B.
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You are the Chief Operating Officer of Littleco. Over lunch, the President of Bigco offers to sell Littleco a piece of fully depreciated manufacturing equipment you
need for your production line for $1,000. You tell the President of Bigco that you will buy it,
and you shake on it. The Bigco President later changes his mind and decides to keep the
equipment. Littleco sues Bigco
for breach of contract. Assume that the Uniform Commercial Code does not apply.
1. What remedies can Littleco seek against
Bigco?
2. What defenses can Bigco assert?
Please help.
The Uniform Commercial Code (UCC) does not apply, we will have to consider common law principles of contract law to determine the remedies available to Littleco and defenses available to Bigco.
1.Specific performance
2.Damages
3.Rescission
Defenses available to Bigco:
1.Lack of consideration
2.Mutual mistake
3.Unforeseeable event
4.Duress or undue influence
The Uniform Commercial Code (UCC) does not apply, we will have to consider common law principles of contract law to determine the remedies available to Littleco and defenses available to Bigco.
Damages: Littleco can claim damages for the loss suffered due to the breach of contract. The damages could be compensatory (to cover the direct costs incurred by Littleco due to Bigco's breach) or consequential (to cover any indirect or consequential damages suffered by Littleco due to Bigco's breach).
Rescission: Littleco could also ask the court to rescind the contract, which would cancel the agreement and require both parties to return any benefits received.
Defenses available to Bigco:
Lack of consideration: Bigco may argue that there was no valid contract because Littleco did not provide any consideration (payment or promise of payment) in exchange for Bigco's promise to sell the equipment.
Mutual mistake: Bigco may argue that both parties were mistaken about the subject matter of the agreement (i.e. the equipment) and that the mistake was material enough to make the contract void.
Unforeseeable event: Bigco may argue that an unforeseeable event occurred that made it impossible for them to perform their obligations under the contract (e.g. the equipment was destroyed or lost before the sale).
Duress or undue influence: Bigco may argue that they were forced or influenced to enter into the contract under duress or undue influence.
It's worth noting that the facts provided do not specify whether the agreement was made in writing or orally. If the agreement was made orally, there could be additional complications regarding the enforceability of the contract under the statute of frauds.
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jack is trying to plan his financial future using an online tool. the tool starts off by asking him to input details about his current finances and career. it then lets him choose different future scenarios, such as having children. for each scenario chosen, the tool does some calculations and outputs his projected savings at the ages of 35, 45, and 55.would that be considered a simulation and why?
Yes, the aforementioned online tool qualifies as a simulation because it uses input data to provide projections and outputs depending on many scenarios, enabling users to explore and prepare for several potential.
What are three distinct simulation examples?The majority of us are familiar with some applications of computer simulation modeling, such as weather forecasting, pilot training simulators, and vehicle crash modelling.
What programme is used to compare simulation results visually between several runs and models?Throughout the modelling process, you can use a variety of additional visualisation tools provided by Simulink®. The ability to preserve simulation data is another feature of several visualisation tools.
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The office manager of a large New York City-based accounting firm needs to replace the aging and out-of-style office furniture in their New York offices. The firm has decided to purchase desk/chair/credenza furniture sets for all 2,000 offices in New York. The company has received bids from four different furniture companies who are willing to supply the furniture sets, as follows:
Carolina Woodworks has bid to deliver up to 1,000 furniture sets at a cost of $2,500 per set and with a one-time charge of $10,000.
Nashawtuc Millworks has bid to deliver up to 1,200 furniture sets at a cost of $2,450 per set and with a one-time charge of $20,000
Adirondack Furnishing Designs has bid to deliver up to 800 furniture sets at a cost of $2,510 per set with no additional charges.
Lancaster Artisan Company has bid to deliver up to 1,100 furniture sets at a cost of S2,470 per set and with a one-time charge of S13,000.
Formulate a mixed integer optimization model that could be used to determine how many furniture sets to purchase from each of the four potential suppliers in order to minimize cost
The model above ensures that the total number of furniture sets purchased is 2,000 or less, and that each supplier is only selected if the number of furniture sets requested is within their capacity. The binary variables ensure that only one supplier is selected for each order.
Let:
X1 = Number of furniture sets to purchase from Carolina Woodworks
X2 = Number of furniture sets to purchase from Nashawtuc Millworks
X3 = Number of furniture sets to purchase from Adirondack Furnishing Designs
X4 = Number of furniture sets to purchase from Lancaster Artisan Company
The objective is to minimize the total cost, which is a function of the number of furniture sets purchased from each supplier.
Minimize:
2,500X1 + 2,450X2 + 2,510X3 + 2,470X4 + 10,000(I1) + 20,000(I2) + 13,000(I4)
Subject to:
X1 + X2 + X3 + X4 = 2,000 (total number of furniture sets needed)
X1 <= 1,000(I1) (Carolina Woodworks can only deliver up to 1,000 furniture sets)
X2 <= 1,200(I2) (Nashawtuc Millworks can only deliver up to 1,200 furniture sets)
X3 <= 800 (Adirondack Furnishing Designs can deliver up to 800 furniture sets)
X4 <= 1,100(I4) (Lancaster Artisan Company can only deliver up to 1,100 furniture sets)
Where I1, I2, and I4 are binary variables that take on a value of 1 if the corresponding supplier is selected and 0 otherwise.
All variables are non-negative integers.
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How does the law of demand really work in market? Take example of any product and explain in detail, with the change in price how demand fluctuate in the market.
Draw demand schedule and demand curve to justify your answer
The law of demand is an economic principle that states that as the price of a good or service increases, the quantity demanded that good or service decreases, and vice versa, assuming all other factors remain constant.
To demonstrate the law of demand, let's use the example of a popular product - smartphones:
1. Price Change: Suppose the price of a smartphone decreases from $800 to $600.
2. Demand Fluctuation: As the price decreases, more people will be interested in purchasing a smartphone because it has become more affordable. Consequently, the quantity demanded of smartphones will increase.
Now, let's create a demanding schedule and a demand curve to illustrate this relationship.
Demand Schedule:
This is a table that shows the quantity demanded of smartphones at various price levels.
Price (in $) | Quantity Demanded (in units)
----------------|-----------------------------
1000 | 100
800 | 200
600 | 350
400 | 550
The demand schedule shows that as the price decreases, the quantity demanded increases.
Demand Curve:
A demand curve is a graphical representation of the relationship between the price of a good and the quantity demanded. To plot the demand curve, use the price and quantity data from the demand schedule.
1. Draw two axes: a horizontal axis (x-axis) representing quantity demanded and a vertical axis (y-axis) representing price.
2. Plot the price and quantity data points from the demand schedule on the graph (e.g., for $1000 price, plot 100 units on the x-axis).
3. Connect the data points with a downward-sloping line, which represents the demand curve.
The demand curve will show a negative relationship between the price and quantity demanded, in accordance with the law of demand.
In conclusion, the law of demand describes the inverse relationship between price and quantity demanded in a market. When the price of a product, such as a smartphone, decreases, the quantity demanded increases and vice versa. The demand schedule and demand curve help to illustrate and justify this relationship.
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on monday, wagner sends his agent, franz, a check for $20,000 with instructions to purchase a delivery truck for wagner's business. on tuesday, in order to cover a pending personal bill, franz deposits the $20,000 in his own account with the intent to replace the funds with a loan from his credit union. on friday, franz replaces the money and purchases the truck. franz violated what fiduciary duty?
Franz violated his fiduciary duty of loyalty to Wagner by depositing the $20,000 into his own account and using it for personal purposes. As Wagner's agent, Franz had a duty to act solely in Wagner's best interests and to avoid any conflicts of interest.
By depositing the money into his own account and using it for personal reasons, Franz breached this duty and put his own interests above Wagner's. While he did ultimately replace the money and purchase the delivery truck, this does not excuse his initial violation of his fiduciary duty.
In addition to breaching his duty of loyalty, Franz also failed to properly manage Wagner's funds by temporarily diverting them for personal use. This could have exposed Wagner's business to financial risk if the funds were not replaced in a timely manner.
Overall, Franz's actions represent a serious breach of his fiduciary duty to Wagner and could potentially lead to legal consequences. As an agent, it is essential that he prioritize his client's interests and avoid any conflicts of interest that could undermine his ability to act in their best interests.
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Question 9 1 pts Discuss the following: • Does putting the customer first imply completely giving in to his/her whims and desires? • What bearing does training have on caring for one's customers?
Putting the customer first does not necessarily mean completely giving in to their whims and desires. Properly trained employees are more capable of understanding customer needs, providing efficient solutions, and delivering exceptional customer service.
Putting the customer first means prioritizing their needs and wants while also considering the limitations and boundaries of the business. Balancing customer satisfaction with your company's policies and goals is essential for sustainable business success.
For example, if a customer wants a product or service that the business does not offer, it is not reasonable to completely give in to that desire. However, the business can offer alternatives or find a compromise that satisfies both the customer and the business.
Training plays a significant role in caring for one's customers. When employees are trained on how to handle customer complaints, inquiries, and needs, they are better equipped to provide exceptional customer service. Training can also help employees understand the importance of putting the customer first and how to balance the customer's needs with the business's goals.
When employees are knowledgeable and empathetic towards the customer, they can build trust and loyalty, which is essential for any successful business. Hence, training equips employees with the necessary skills and knowledge to better serve customers while maintaining professionalism and adhering to company standards.
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hich of the following describes subscription pricing?multiple choiceall of the earrings in the accessory shop cost either $15, $20, $25, or $30.a customer can get a cheeseburger, french fries, and a soda for $1.50 cheaper than buying each of them individually.for $10.99 a month, customers can stream any movie in netflix's catalog.the price of the luxury car is purposely set high so as to suggest high quality and high status.the grocery store advertises special low prices on cereal to get customers into the store.
Subscription pricing refers to a pricing model where customers pay a regular fee, usually on a monthly or yearly basis, to access a particular service or product.
This pricing model is becoming increasingly popular among businesses that offer services such as streaming media, online software, and subscription boxes.Out of the options given, the one that describes subscription pricing is "for $10.99 a month, customers can stream any movie in Netflix's catalog."
This is a classic example of a subscription pricing model. Netflix offers its customers access to its entire catalog of movies and TV shows for a monthly fee. Customers pay the fee, and in return, they get unlimited access to the content as long as they continue to pay the monthly fee.
The advantage of subscription pricing is that it creates a steady stream of revenue for the business, which can help with financial planning and forecasting. It also provides customers with a convenient and cost-effective way to access the products or services they need, without having to make a large upfront investment.
Overall, subscription pricing is an effective pricing strategy that offers benefits to both businesses and customers. It is a great way for businesses to generate revenue and provide customers with an affordable and convenient way to access their products or services.
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why do developing countries specialize in certain business services? a. back-office jobs are ideal for non-english speakers. b. workers in developed countries are unwilling to do these jobs. c. their lower costs and decreased regulation appeal to businesses. d. companies do not need to pay taxes on money earned overseas. e. local business customers have dramatically increased in these countries.
Developing countries will specialize in certain business services because of their lower costs and decreased regulation appeal to businesses. Option C is correct.
Developing countries often have lower labor costs and less stringent regulations as compared to developed countries, making them an attractive location for businesses to outsource certain business services such as call centers, software development, as well as data entry.
This allows companies to lower their costs and to increase efficiency. Additionally, the availability of a large pool of skilled labor in developing countries, combined with the increasing globalization of business, has also contributed to the growth of the business services in these countries.
Hence, C. is the correct option.
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A. what is the marginal cost of the tenth unit of output?b. what is the total cost of producing ten units of output?c. what is the average variable cost of producing ten units of output?d. what is the average fixed cost of producing ten units of output?e. what is the average total cost of producing ten units of output?
Divide the variation in production costs by the variation in quantity to determine marginal cost. Finding the point at which an organization can realize economies of scale to improve production and overall operations is the goal of marginal cost analysis.
By dividing the increase in production expenses by the rise in unit output, marginal cost is obtained. For instance, a business initially spends $100 to produce 100 product units. Then, it spends an additional $50 to produce 100 more units of the product.
Each unit initially costs $1 to produce. The total cost of all the production elements is what it costs to produce a certain level of output. When analyzing economic data, economists frequently employ models with two inputs: physical capital with quantity K and labor with
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what do counterfeiting an enemy's currency during war and adopting another currency during peacetime have in common? multiple choice question. they illustrate the power of fixed-rate foreign exchange. they illustrate the power of stable prices. they illustrate the fact that all wars are economic. they illustrate the importance of floating currencies.
Counterfeiting an enemy's currency during war and adopting another currency during peacetime have in common that they illustrate the importance of floating currencies. So, correct option is D.
Counterfeiting an enemy's currency during war is a tactic to undermine the value of the enemy's currency and make it less useful for conducting transactions. This can only be effective if the enemy's currency is a floating currency, where its value can fluctuate based on market forces.
Similarly, adopting another currency during peacetime can only be effective if the adopted currency is a floating currency. Fixed-rate foreign exchange regimes, where the exchange rate between two currencies is fixed by government policy, would prevent the adoption of another currency.
Therefore, both of these situations highlight the importance of floating currencies and the flexibility they provide in international transactions.
So, correct option is D.
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In a survey of 100 students the following observations were made:41 students read punch magazine,29 students read time magazines,26 students read ovation magazine,15 students read punch and time magazines,8 students read time and ovation magazines,19 students read punch and ovation magazines and 5 students read all the three magazines. find the number of students among the 100 that did not read any of the three magazines. how many read one of the three magazines
Among 100 students, 41 of them did nit read either of the three magazines and 22 are the ones who read one out of the three magazines.
In order to find the number of students who did not read any of the three magazines (Punch, Time, and Ovation) and those who read only one of them, we will use the Principle of Inclusion-Exclusion.
Step 1: Add the number of students who read each magazine individually.
P(Punch) = 41, P(Time) = 29, P(Ovation) = 26
Step 2: Subtract the number of students who read two magazines.
P(Punch and Time) = 15, P(Time and Ovation) = 8, P(Punch and Ovation) = 19
Step 3: Add back the number of students who read all three magazines.
P(Punch, Time, and Ovation) = 5
Step 4: Apply the Principle of Inclusion-Exclusion.
P(At least one magazine) = P(Punch) + P(Time) + P(Ovation) - P(Punch and Time) - P(Time and Ovation) - P(Punch and Ovation) + P(Punch, Time, and Ovation)
= 41 + 29 + 26 - 15 - 8 - 19 + 5
= 59
Step 5: Calculate the number of students who did not read any magazine.
Total students = 100
Students who did not read any magazine = Total students - Students who read at least one magazine
= 100 - 59
= 41
Step 6: Calculate the number of students who read only one of the magazines.
Students who read only one magazine = Students who read at least one magazine - Students who read two magazines + Students who read all three magazines
= 59 - (15 + 8 + 19) + 5
= 59 - 42 + 5
= 22
So, among the 100 students, 41 did not read any of the three magazines, and 22 students read only one of the three magazines.
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consumer finance companies that specialize in giving loans to people with poor credit scores is called....
a.banks
b.savings and loans associations
c.small loan companies
d.check cashing stores
Answer:
C
Explanation:
Small loan companies usually do not even require credit score checking.
the graph depicts the market for cable where there is one natural monopoly; ac represents average (total) cost, d represents market demand, and mr represents marginal revenue. assume that the marginal cost is equal to 0. suppose that before the cable company lays any cable, the government decides to regulate the monopoly by setting the price. what is the lowest price that the government can impose while ensuring that the cable company enters the market?
According to the demand, the lowest price that the government can impose while ensuring that the cable company enters the market is where the price equals the minimum point on the AC curve that is 10.
In this situation, it's important to consider the market demand for cable services. Demand represents the quantity of cable services that consumers are willing and able to purchase at different prices. Typically, as the price of cable services decreases, the demand for these services increases.
The cable company's pricing strategy must take into account the demand for cable services. If the government sets the price too high, it may discourage consumers from purchasing cable services, leading to lower profits for the cable company.
Assuming that the marginal cost of laying cable is zero, the cable company's profits will depend on the price set by the government. The lowest price that the government can impose while ensuring that the cable company enters the market is where the price equals the minimum point on the average total cost (AC) curve. At this price, the cable company will earn zero economic profit, but it will be able to cover its costs and enter the market.
Then the minimum point is 10.
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consider the following information. your portfolio is invested 30 percent each in a and c, and 40 percent in b. what is the expected return of the portfolio? what is the variance of this portfolio? the standard deviation?
The expected return of the portfolio is 10.2%, the variance of the portfolio is 0.00108, and the standard deviation of the portfolio is 3.29%.
To calculate the expected return of the portfolio, we need to multiply the weight of each investment by its expected return and then sum the results. Assuming that the expected returns of investments A, B, and C are 10%, 12%, and 8%, respectively, we have:
Expected return = (0.3 x 10%) + (0.4 x 12%) + (0.3 x 8%) = 3% + 4.8% + 2.4% = 10.2%
To calculate the variance of the portfolio, we need to calculate the covariance of each pair of investments, multiply each covariance by the product of the weights of the two investments in the pair, and then sum the results.
Assuming that the covariances between investments A and B, A and C, and B and C are 0.002, -0.001, and 0.003, respectively, we have:
Variance = (0.3^2 x 0.002) + (0.3 x 0.4 x (-0.001)) + (0.4^2 x 0.003) + (0.3 x 0.4 x (-0.001)) + (0.3^2 x 0.002) + (0.3 x 0.4 x 0.003) + (0.4 x 0.3 x (-0.001)) + (0.4 x 0.3 x 0.003) + (0.4^2 x 0.003) = 0.00108
To calculate the standard deviation of the portfolio, we take the square root of the variance:
Standard deviation = √(0.00108) = 0.0329 or 3.29%
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Complete question is:
Consider the following information. your portfolio is invested 30 percent each in a and c, and 40 percent in b. the expected returns of investments A, B, and C are 10%, 12%, and 8%, respectively. what is the expected return of the portfolio? what is the variance of this portfolio? the standard deviation?
