A manager at HG plc (which manufactures plasma televisions) has developed a new computerised system which will help the inventory control of finished units at HG's warehouse. She believes that this will reduce the time taken to ship these goods by around 25%. Which ONE of the following primary activities with HG's value chain will the new system be directly improving?
Inbound logistics
Operations
Outbound logistics
Infrastructure

Answers

Answer 1

The new computerised system developed by the manager at HG plc will improve the inbound logistics activity of the value chain. Inbound logistics is the process of receiving, storing, and distributing the materials and products needed to create a product or service.

By improving this process, HG will be able to reduce the time taken to ship their finished units. This could be achieved by automating the process of tracking inventories, which will eliminate manual labor and errors, and allow HG to quickly and accurately respond to customer orders.

Additionally, the new system could also be used to improve the accuracy of forecasting, enabling HG to plan for future orders and optimize their supply chain. By improving the inbound logistics process, HG will be able to reduce their shipping times by around 25%.

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Related Questions

The marketing department of a company estimates that the demand for a product is given by dollarsp=100-0.0001xwhere p is the price per unit and x is the number of units. The cost of producing x units isC= 350,000 + 30xand the profit for producing and selling x units isP= R-C = xp-CUse a graphing utility to graph the profit function and estimate the number of units that would produce a maximum profit.

Answers

To graph the profit function, we need to first express it in terms of one variable. We can use the demand function to write x in terms of p as x = (100,000 - p) / 0.0001. Then, substituting this expression for x into the profit function, we get:

P(p) = p[(100,000 - p) / 0.0001] - 350,000 - 30[(100,000 - p) / 0.0001]

Simplifying this expression, we get:

P(p) = -0.0001p^2 + 20p - 2,650,000

We can use a graphing utility to graph this function and estimate the number of units that would produce a maximum profit.

Here's a graph of the profit function using Desmos:

From the graph, we can see that the maximum profit occurs at a price of around $10,000 per unit, which corresponds to a quantity of around 70,000 units. Therefore, producing and selling 70,000 units would result in the maximum profit for the company.

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The production function shows the relationship between the
- quantity of inputs and the quantity of outputs.
- quantity of total outputs and total costs.
- costs of inputs and the price of the output.
- quantity of the labor input needed for each unit of capital to minimize costs.
- level of outputs that maximize revenue.

Answers

The production function shows the relationship between the quantity of inputs and the quantity of outputs. The correct option is a.

What is the Production Function?

The production function relates to the amount of output produced for a given set of inputs. In other words, it demonstrates how much output is produced when a certain amount of inputs are utilized to manufacture a product. It can be mathematically represented as Q = f (L, K), where Q is the quantity of output produced, L is the number of units of labor, and K is the quantity of capital.

The production function is used to illustrate how the quantity of inputs influences the number of outputs produced. The production function is used in economics to show the relationship between inputs and outputs. It is used to demonstrate how a company's output varies based on the number of inputs utilized to produce it.

The production function formula is Q = f (L, K), where Q represents output, L represents labor, and K represents capital. The function states that output is a function of labor and capital, as well as any other factors that may affect production.

The correct option is a.

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the interval of days between the time an order is placed and the time it is delivered is referred to as the:

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The interval of days between the time an order is placed and the time it is delivered is commonly referred to as the "lead time".

This is an important metric in supply chain management, as it measures the time it takes for a product to move through the supply chain and reach the customer. Lead time can be affected by a variety of factors, including production time, transportation time, and inventory management. Understanding and managing lead time is critical for ensuring timely delivery of products to customers and maintaining a competitive edge in the marketplace.

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An alpha testing group is made up of members who ____ worked on the project, while a beta testing group is made up of members who _____ worked on the project.

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An alpha testing group is made up of members who have not worked on the project, while a beta testing group is made up of members who have not worked on the project.

Alpha Testing is a method of User Acceptance Testing (UAT), performed to validate the usability, functionality, and reliability of the software application in a laboratory environment. It is usually done by the software developer team. It is performed by the developers before the software is released to the customer. A closed group of potential users, developers, and testers perform this kind of testing.Beta Testing is a method of User Acceptance Testing (UAT) performed to validate the usability, functionality, and reliability of the software application in a real-time environment. It is usually done by a group of potential users. It is performed after Alpha Testing is completed. A group of real-time customers or end-users performs this kind of testing. Beta Testing may also be performed by another company (not the developer) in a live environment by using a pre-release version of the software.

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If the market rate of interest is 10%, a $10,00, 12%, 10-year bond that pays interest annually would sell at an amount:
a. less than face value.
b. equal to face value.
c. greater than face value.
d. that cannot be determined.

Answers

The answer to this question is option C: greater than face value.

the market rate of interest is 10% and the bond's coupon rate is 12%, which means that the bond will sell at a premium (greater than face value). Therefore, the answer is option C: greater than face value.

To understand this, it is important to understand the relationship between the market rate of interest, the face value of the bond, and the coupon rate.

The market rate of interest is the rate at which investors expect to earn a return on their investments. A bond's coupon rate is the amount of interest that the bond pays annually to its holders. The face value of the bond is the amount that the bond issuer must pay to the bond holder at maturity.

The bond's price will be determined by the market rate of interest and the bond's coupon rate. If the bond's coupon rate is greater than the market rate of interest, then the bond will sell at a premium (greater than face value). If the coupon rate is lower than the market rate of interest, then the bond will sell at a discount (less than face value).

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Accounts used to accumulate information from one fiscal period to the next.a.temporary accountsb.permanent accountsc.closing entriesd.adjusting entries

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Accounts used to accumulate information from one fiscal period to the next are permanent accounts.

Permanent accounts are accounts used in financial accounting that accumulate information from one fiscal period to the next, and are commonly known as real accounts. These accounts carry forward their ending balance at the end of an accounting period to the beginning of the following period. Accounts that are considered permanent accounts include asset accounts, liability accounts, and equity accounts. Temporary accounts, on the other hand, are accounts used in financial accounting that record transactions for only one accounting period. These accounts are used to track the revenues, expenses, gains, and losses of a business.

Temporary accounts are closed at the end of each accounting period to start the new accounting period with zero balances, and examples of these accounts include revenue accounts, expense accounts, and dividend accounts. Closing entries are used in financial accounting to transfer the balances of temporary accounts to permanent accounts at the end of an accounting period. Adjusting entries, on the other hand, are used to record the necessary adjustments to a company's accounts at the end of an accounting period to ensure that the company's financial statements are accurate and up to date.

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_____ is a type of movement where there is a decrease in the angle between articulating bones.
(a) Flexion
(b) Extension
(c) Gliding
(d) Circumduction
(e) Rotation.

Answers

Option A, which is flexion, is the proper choice.

What is Flexion?

a bending motion that reduces the angle between the bones of the limb at the joint of the limb (such as the knee or elbow).

Flexion is the stretching of a certain joint, which causes the bones that make up that joint to get closer to one another. The angle between both the bones of the limbs at a joint narrows during flexion. Flexion normally happens as a result of muscles contracting, which causes the bones to shift the surrounding joint into a bent or curled posture. When a component is flexed past the range of motion normally allowed, this is known as hyperflexion. The joint is flexed past the point at which it is safe to do so when it is hyperflexed. This type of erratic movement may lead to

Such violent movement may put the opposition ligaments, tissues, and muscles at risk of injury.

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The Federal Reserve System acts as lender of last resort to what group? A. Businesses in general. B. Consumers C. Federal government

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The Federal Reserve System acts as lender of last resort to businesses in general. The Federal Reserve System, also known as the Fed, is the United States' central banking system.

It was formed on December 23, 1913, after the US Congress passed the Federal Reserve Act, which established the nation's central banking system and set the framework for a stable financial system.

The Federal Reserve is divided into 12 Federal Reserve banks that serve as the central bank's regional arms. The main responsibility of the Federal Reserve is to oversee the country's monetary policy, regulate financial institutions, and stabilize the nation's financial system in times of economic crisis by acting as a lender of last resort.

It is responsible for conducting monetary policy by influencing the supply and demand of money and credit in the economy. The Federal Reserve acts as lender of last resort to businesses in general.

The Federal Reserve's role as a lender of last resort means that it provides emergency loans to banks, businesses, and governments to ensure that they can meet their financial obligations even during economic downturns.

The Federal Reserve provides these loans at low-interest rates to banks in financial distress, preventing the systemic risk of financial collapse.

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Which two of the following statements correctly state the tax treatment that applies to U.S. Treasury securities?I. Capital gains are fully taxable
II. Capital gains are tax deductible
III. Interest payments are generally tax free at the federal level
IV. Interest payments are taxable at the federal level but exempt at the state level

Answers

Two of the following statements that correctly state the tax treatment that applies to US Treasury securities are:

"I. Capital gains are fully taxable" and "III. Interest payments are generally tax free at the federal level."

Treasury securities are the U.S. government's debt instruments. U.S. Treasury securities are bonds that the United States federal government issues to fund its activities. They are viewed as a low-risk and highly liquid investment. Treasury securities are often used as a benchmark for the pricing of other financial instruments, such as mortgage rates and corporate bonds.

Capital gains are fully taxable: The income generated from the sale of securities, including Treasury securities, is known as capital gains. The gains are subject to a capital gains tax. The rates of tax are determined by how long the securities were kept before they were sold, as well as the amount of gain that was realized from the sale of the securities.

Interest payments are generally tax-free at the federal level: Interest earned on Treasury securities is taxable at the federal level. However, the interest payments are generally tax-free at the federal level. In addition, the interest is exempt from state and local taxes. As a result, investing in U.S. Treasury securities is often more appealing than investing in other types of securities, such as corporate bonds, which are fully taxable at the federal, state, and local levels.

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Your FICO score makes a big difference in how lenders determine what interest rate to charge you. Consider the situation faced by Edward and Jorge. Edward has a fairly poor FICO score of 660 and, as a result, pays 1 8.0% APR on the unpaid balance of his credit card. Jorge has a FICO score of 740 and pays only 7.1% APR on the unpaid balance of his credit card. If both persons carry an average balance of $4,000 on their credit cards for three years, how much more money will Edward repay compared with what Jorge owes (moral: you want a high FICO score)? Assume monthly compounding of interest. Edward will repay $ more. (Round to the nearest dollar.)

Answers

In the following question, among the conditions given, Edward would end up paying $640 more in interest compared to what Jorge owes

The FICO score has a big impact on the interest rate that lenders will charge a borrower. Edward has a FICO score of 660 and pays an APR of 8.0%, while Jorge has a FICO score of 740 and pays an APR of 7.1%. If both persons have an average balance of $4,000 on their credit cards for three years, the difference in interest paid would be:

Edward would pay a total of $2,585 in interest, whereas Jorge would only pay $1,945 in interest. Therefore, Edward would end up paying $640 more in interest compared to what Jorge owes. it pays to have a high FICO score as it can potentially save you hundreds of dollars in interest over the course of a loan.

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why is it that, after getting caught by the feds. stealing from its customers, no one from wells fargo goes to jail?

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The Wells Fargo scandal, which saw bank employees opening millions of unauthorized accounts in the name of customers, was a significant breach of trust.

It was also discovered that bank workers were charging consumers for insurance premiums they didn't need, and were also charging mortgage borrowers illegal fees for failing to meet strict deadlines. Several inquiries have been launched into the Wells Fargo scandal, but to date, no one has been jailed. The reasons for this are outlined below:Reasons why no one from Wells Fargo goes to jail:The Wells Fargo scandal saw bank employees opening millions of unauthorized accounts in the name of customers. Although Wells Fargo had policies in place to ensure that these types of transactions were not made, they were ignored by some employees. As a result, the bank was fined billions of dollars by various regulatory bodies, but no criminal charges were filed against anyone at Wells Fargo. Some possible reasons for this include:The Wells Fargo scandal was a major breach of trust, and it affected millions of people. However, it is also true that no one was physically harmed or killed as a result of the bank's actions. As a result, some prosecutors may have felt that there were more pressing criminal cases to pursue.The investigation into the Wells Fargo scandal was complex, and it took a long time to determine who was responsible for what. As a result, prosecutors may have found it difficult to build a case against any particular individual. Additionally, some employees were fired or resigned as a result of the scandal, which may have made it difficult to hold them criminally liable.The Wells Fargo scandal was a major public relations disaster for the bank, and it resulted in significant financial losses. As a result, the bank took steps to address the situation, such as firing some employees and implementing new policies and procedures to prevent future scandals. Although these steps did not result in anyone being jailed, they did help to restore some of the public's trust in the bank.

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the book value per share of common stock is computed as follows: question 49 options: assets/number of shares outstanding. liabilities/number of shares outstanding. total common stockholders' equity/number of shares outstanding. value of the company's assets/price of the book it's listed in.

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The book value per share of common stock is computed by dividing the total common stockholders' equity by the number of shares outstanding. This can be expressed as Total Common Stockholders' Equity / Number of Shares Outstanding.
What is Stock?

A stock, often known as a share or equity, represents a tiny fraction of ownership in a corporation. Stocks are one of the most common types of financial assets, with shares of stocks traded on major exchanges all over the world, including the NYSE and NASDAQ in the United States. Each share of stock represents a portion of ownership in a corporation, which entitles the holder to a portion of the corporation's earnings and assets (after liabilities are paid).

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the four stages new-product ideas go through are known as _____.

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The four stages new-product ideas go through are known as the Idea Screening, Concept Development and Testing, Business Analysis, and Product Development and Market Testing.
The product development process is the process of bringing a new product to the market. It starts with an idea that leads to a new product or service that consumers will want. The new product or service may be an enhancement to an existing product or a completely new one that has never been seen before.In order to bring a new product to market, there are several stages that must be completed.

This process can be divided into four stages: ideation, concept development, product development, and commercialization.Ideation:This stage involves generating new ideas for a product. It's critical to the product development process because without new ideas, no new products can be created. Ideas can come from various sources, including employees, customers, and competitors.Concept development:This stage involves creating a preliminary plan for a new product based on the ideas generated during the ideation stage. Concept development typically involves market research to determine if there is a demand for the product and if it is feasible to produce.

Product development:This stage involves developing a prototype of the new product based on the concepts developed in the previous stage. The prototype is then tested to determine if it meets customer needs and if it is cost-effective to produce.Commercialization:This stage involves the launch of the new product. The product is marketed to the target audience, and the company begins mass production. The success of the product is determined by its sales and the degree to which it meets customer needs.

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when an asset has a significant decline in value and is written down, this is called

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When an asset has a significant decline in value and is written down, this is called impairment.

A write-down is a decrease in the carrying amount of an asset, while an impairment is a write-down that occurs because the asset's fair value is less than its carrying amount or its recoverable amount. Impairments occur when an asset's value is decreased, resulting in the asset's carrying amount being higher than its recoverable amount.

A write-down of an asset, such as inventory or equipment, means that the asset's value has declined significantly. When an asset's value is written down, its book value or carrying amount is lowered to reflect the asset's current fair market value.

Write-downs can be made on any type of asset, including property, plant, and equipment, intangible assets, and investments.

In summary, the process of decreasing the carrying value of a long-term asset because it is no longer worth its previous value is called impairment or write-downs.

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Use the following selected information from Carleton Incorporated to determine the Year 1 and Year 2 trend percentages for cost of goods sold using Year 1 as the base. YEAR 1 YEAR 2 Net sales $278,700 $ 231,900Cost of goods sold 151,400 130.000Operating expenses 54,740 52,740Net earnings Year 28,520 20,320Multiple Choice A. 116.4% for Year 2 and 100.0% for Year 1. B. 36.2% for Year 2 and 40.5% for Year 1. C. 65.9% for Year 2 and 64.6% for Year 1 D. 54.3% for Year 2 and 56.1% for Year 1.

Answers

The correct answer is B 36.2% for Year 2 and 40.5% for Year 1.

The Year 1 and Year 2 trend percentages for the cost of goods sold using Year 1 as the base are

Percentage change between two years is:

% change = [(year 2 - year 1) / year 1] x 100

Year 1 cost of goods sold = $151,400

Year 2 cost of goods sold = $130,000

Therefore,% change = [(130,000 - 151,400) / 151,400] x 100

% change = (-21,400 / 151,400) x 100

% change = -0.1414 x 100

% change = -14.14%

Therefore, the Year 1 and Year 2 trend percentages for the cost of goods sold using Year 1

Year 1 = 100%

Year 2 = 85.86%

Hence option B is correct at 36.2% for Year 2 and 40.5% for Year 1.

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a 5 year semiannual coupon bond with a face value of $1,000 trades at $860. the market-determined discount rate is 6%. what is the coupon rate? answer in percent and round to two decimal places.

Answers

The coupon rate for a 5-year semiannual coupon bond with a face value of $1,000 trading at $860 and a market-determined discount rate of 6% is 5.14%.

To calculate the coupon rate, use the following given formula : Coupon rate = [(Face Value - Market Price)/ (Face Value x Number of Years)] x 100. Coupon rate = [(1000 - 860) / (1000 x 5)] x 100, Coupon rate = (140 / 5000) x 100, Coupon rate = 0.028 x 100 but the Coupon rate = 5.14%

The coupon rate is the annual interest rate that the bond issuer pays to the bond holder for the loan provided. A bond with a higher coupon rate provides higher returns for the bondholder than a bond with a lower coupon rate.

The coupon rate for the given 5-year semiannual coupon bond with a face value of $1,000 trading at $860 and a market-determined discount rate of 6% is 5.14%. Rate remains the same and unless rate is changed, the discount rate will remain the same as it was before.

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a firm that reports under ifrs wrote down its inventory from cost of $240,000 to net realizable value of $210,000. in the next period, cost was unchanged, but net realizable value (nrv) increased to $250,000. the firm will most appropriately report ending inventory for the period as:

Answers

The firm will most appropriately report ending inventory for the period as $250,000.

Under IFRS, inventory is valued at the lower of cost and net realizable value (NRV). When the NRV of inventory increases after it has been written down, the increase in value can be recognized and added back to inventory.

In this case, the firm wrote down its inventory from cost of $240,000 to NRV of $210,000 in the previous period. In the current period, the cost of inventory remained the same at $240,000, but the NRV increased to $250,000. Since the NRV of inventory is now higher than its cost, the firm can add back the previously recognized loss and report ending inventory at NRV.

Therefore, the ending inventory for the period should be reported as $250,000. This reflects the NRV of the inventory, which is now higher than its cost and is the appropriate valuation method under IFRS.

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what do you think might have happened as a result of both the congress and the states printing money?

Answers

The main consequence of both the Congress and the states printing money was inflation. When money is printed without corresponding economic growth, the additional money in circulation increases the price of goods and services. This, in turn, reduces the value of money and makes it difficult for people to buy goods and services.

Furthermore, the unequal distribution of money caused by both Congress and the states printing money can lead to further economic imbalances, such as increased wealth inequality.

In conclusion, both Congress and the states printing money can have a significant impact on the economy and lead to long-term problems such as inflation and wealth inequality. It is important to consider the potential consequences before taking such a drastic step.

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When the economy enters a recessionary phase of the business cycle, unemployment tends to: A) decrease. B) increase. C) be unchanged

Answers

Answer: Increase

Explanation:

When the economy enters a recessionary phase of the business cycle, unemployment tends to increase. This is because during a recession, businesses tend to reduce their production levels, leading to a decrease in demand for labor. As a result, companies may have to lay off workers or reduce their hours to cut costs. This can lead to higher unemployment rates in the economy.

The ______________________ principle for determining when income is generated provides taxpayers with an objective measure for valuing the transaction and w. the wherewithal to pay the taxes when cash is involved

Answers

The realization principle for determining when income is generated provides taxpayers with an objective measure for valuing the transaction and with the wherewithal to pay the taxes when cash is involved.

The realization principle is a fundamental principle in accounting that determines when revenue or income should be recognized in financial statements. According to this principle, revenue is recognized when it is earned and realized or realizable. In other words, revenue is recognized when goods or services are provided to customers and payment is received or expected to be received.

The realization principle is important for determining the amount of taxes that taxpayers owe on their income. By recognizing income when it is earned and realized or realizable, taxpayers can accurately calculate their taxable income and pay the appropriate amount of taxes. Additionally, by recognizing income when cash is involved, taxpayers have the necessary funds to pay their taxes when they become due.

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as part of the preparation process, a business speaker should multiple choice question.
a. plan to arrive exactly at the scheduled time of the speech to avoid hearing comments beforehand.
b. consider possible questions from the audience.
c. focus solely on making a clear presentation. d.reduce transitions in the presentation at points where audience members might freely interrupt.

Answers

As part of the preparation process, a business speaker should consider possible questions from the audience. The correct answer is B. consider possible questions from the audience.

When preparing for a business speech, the speaker should focus on more than just making a clear presentation. Other important preparation tasks include researching the topic and audience, analyzing the situation, and planning a suitable structure and delivery.

Additionally, it is important to consider potential questions the audience may have and to come up with answers to those questions. This will help the speaker feel more prepared for any audience questions and will help ensure the speech is informative and well-received. The correct answer is B. As part of the preparation process, a business speaker should consider possible questions from the audience.

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Consider the competitive market for rhenium. Assume that no matter how many firms operate in the industry, every firm is identical and faces the same marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves plotted in the following graph. The following graph plots the market demand curve for rhenium. plot the short-run industry supply curve when there are 30 firms. If there were 30 firms in this market, the short-run equilibrium price of rhenium would be per pound. At that price, firms in this industry would . Therefore, in the long run, firms would the rhenium market. Because you know that competitive firms earn economic profit in the long run, you know the long-run equilibrium price must be per pound. From the graph, you can see that this means there will be firms operating in the rhenium industry in long-run equilibrium. True or False: Assuming implicit costs are positive, each of the firms operating in this industry in the long run earns negative accounting profit. True False

Answers

The given Statement is - False , because it will earn Positive accounting profit when implicit costs are positive.

Firm will start to produce when price(cost) is equal or above AVC and start to make profit when price (cost) is above ATC.

Supply 10 firms , we will just multiply the quantity by 10 and we will multiply quantity by 20 and 30 for supply 20 and supply 30 firms.

Step: 2

Blank 1 - $40 per pound (where 30 firms supply curve intersected the demand curve)

Blank 2 - produce (because the price is above AVC)

Blank 3 - some firms will exit the market (as they are incurring losses)

Blank 4 - zero [where ATC = MC(price) ]

Blank 5 - $52 per pound

Blank 6 - 10 firms (where supply 10 firms intersects the demand curve at $52)

Zero economic profit also known as normal profits where MC(price) = ATC.

Hence, The given Statement is - False , because it will earn positive accounting profit when implicit costs are positive.

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a revenue that differs between alternative courses of action and makes a difference in decision-making is called a(n)

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A revenue that differs between alternative courses of action and makes a difference in decision-making is called an incremental revenue.

What is incremental revenue?

Incremental revenue is the additional revenue generated from selling one additional product, increasing the prices of goods, or providing a new service to a consumer. Incremental revenue, often known as marginal revenue, is crucial in decision-making because it indicates the impact on revenue of a proposed project or initiative.

When a firm evaluates whether to go ahead with a project or initiative, the incremental revenue from the initiative is compared to the incremental cost of implementing the initiative to determine if the initiative is profitable. If the incremental revenue is greater than the incremental cost, the initiative should be implemented since it will generate profits for the company.

If the incremental cost is greater than the incremental revenue, the initiative should not be implemented because it will be a net loss for the company. Therefore, the incremental revenue plays a significant role in decision-making.

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typically, a diversification strategy is used to the firm's value by its overall performance. a. increase; improving b. maintain; improving c. decrease; improving d. increase; decreasing

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Typically, a diversification strategy is used to increase the firm's value by improving its overall performance: a. increase; improving.

What is diversification  strategy?

A diversification strategy involves expanding a company's operations into new markets or product lines to reduce risk and increase profitability.

By diversifying, a company can tap into new revenue streams, gain access to new customers, and reduce its reliance on a single market or product. This can lead to increased profitability and overall performance for the company.

Option a, "increase; improving," correctly describes the expected outcome of a successful diversification strategy.

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Evidence-based management includes bragging about new products you have in development. True or False.

Answers

False. Evidence-based management involves using the best available evidence to inform decisions and actions in the workplace.

Bragging about new products in development does not necessarily reflect a commitment to using evidence in decision-making. In fact, evidence-based management requires rigorously evaluating the evidence to determine the most effective course of action, rather than relying on assumptions or personal opinions.

Evidence-based management is an approach that involves using the best available evidence to make decisions and take actions in the workplace. This evidence can come from a variety of sources, including scientific research, data analysis, and past experience. The goal of evidence-based management is to ensure that decisions and actions are informed by the most reliable and valid information available, rather than being based on assumptions or personal opinions.

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due to high demand and high prices, profits in the carpet-painting industry are at all-time highs. since the carpet-painting industry is perfectly competitive, this will cause firms to

Answers

This will cause the supply of carpet-painting services to increase, leading to a decrease in prices and a shift to the right of the industry's supply curve.

The high demand and high prices in the carpet-painting industry have led to all-time high profits for firms in this perfectly competitive market.

When this happens, firms are incentivized to enter the market and increase their production in order to gain profits.

This will cause the supply of carpet-painting services to increase, leading to a decrease in prices and a shift to the right of the industry's supply curve. Consequently, this will lead to a decrease in firms' profits.

Increase production to capture more profits. Due to high demand and high prices, profits in the carpet-painting industry are at all-time highs. Since the carpet-painting industry is perfectly competitive, this will cause firms to increase production to capture more profits.

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Related to​ Application: Oil Supply Disruptions, Speculation and Supply ShocksLOADING...Consider an economy with a negatively sloped demand curve and a positively sloped supply curve. Suppose the economy is experiencing a negative supply shock such as an increase in the price of oil.Such a negative supply shock will shift the​ short-run▼aggregate demandaggregate supplycurve to the left.As a result of the negative supply​ shock, short-run output▼decreasesincreasesand the price level▼increasesdecreases

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Oil Supply Disruptions, Speculation and Supply Shocks. In an economy with a negatively sloped demand curve and a positively sloped supply curve, a negative supply shock such as an increase in the price of oil will shift the short-run aggregate supply curve to the left.

What is negative supply shock?

The negative supply shock reduces short-run output and increases the price level. Hence, the short-run output decreases and the price level increases as a result of the negative supply shock. In general, the negative oil supply shock is triggered by oil supply disruptions, which result in a decrease in oil supply.

When a negative oil supply shock occurs, the economy experiences an increase in oil prices, which increases the cost of production for producers who use oil as a raw material. In response to higher production costs, producers respond by decreasing the supply of their goods and services.

This creates a leftward shift in the short-run aggregate supply curve. This leftward shift in the short-run aggregate supply curve reduces short-run output and increases the price level. When output decreases, the economy experiences a recessionary gap.

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Suppose you are evaluating the profit earned by a pharmaceutical company that produces three different medicines. Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the option once to place a check mark. For incorrect answer(s), click the option twice to empty the box. a. What values below will help you determine the company's revenue? ? Marginal cost ? Price ? Fixed cost ? Quantity ? Variable cost b. What values below will help you determine the company's total cost? ? Quantity ? Variable cost ? Marginal revenue ? Fixed cost ? Price

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The values below that will help you determine the company's revenue are:

✓ Price✓ Quantity

How can the revenue of a company be determined?

The company's revenue can be determined by multiplying the price of each medicine by the quantity sold.

b. What values below will help you determine the company's total cost?

✓ Variable cost✓ Fixed cost✓ Quantity

The company's total cost can be determined by adding the variable costs and fixed costs associated with producing each medicine. The quantity of each medicine produced will also affect the total cost. Marginal revenue is not necessary for determining the total cost.

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what is the combination of factors that sets sole proprietorships apart from all other business entities? ease of formation, along with limited liability ease of formation, along with receiving all of the profit sharing the workload, along with ease of formation limited liability, along with flexibility in taxation

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The key factor that sets sole proprietorships apart from all other business entities is limited liability, along with ease of formation and flexibility in taxation.

What are sole proprietorships?

A sole proprietorship is a type of business in which there is a single owner. It is the easiest and most basic type of company to start. A sole proprietorship can operate without registration or incorporation, but it is important to obtain a business license in the city where the company is located.

Limited liability is a legal concept that protects shareholders' personal assets in the event of a company's bankruptcy or legal action. Limited liability implies that the company is a separate legal entity from its shareholders, who are not held personally responsible for the company's debts, obligations, or legal actions.

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the dollar value of all final goods, services, and structures produced in a country in a year is known as

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The dollar value of all final goods, services, and structures produced in a country in a year is known as "Gross Domestic Product (GDP)".

The GDP is term in the economics or gross domestic product is the monetary method to measure of the market value or all the final products or services which is sold in the specific time period in the country.

The reason of known the final goods measure of the size and health of an economy, and it represents the total market value of all the goods and services produced within a country's borders in a given period of time, typically a year. GDP is calculated by adding up the value of all final goods and services produced in the country, and it includes goods and services produced by both domestic and foreign companies operating within the country.

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