The significant economic development is buying and selling networks that promoted the increase of new cities from 600 CE through 1450 CE.
The number one language spoken by means of people sailing and buying and selling in the Indian Ocean around 1400 ad and Arabic became the common language of business at some point in the Indian Ocean. Muslim traders could journey through an ocean and meet different Muslim merchants who spoke the identical languages and had comparable cultural values. long-distance alternate depended on belief. You needed to accept as true the humans transporting your items to the marketplace.
The quality describes the impact of the unfold of Islam on the Indian Ocean alternate primarily based on the maps and your know-how of global records, which of the subsequent satisfactory describes the effect of the unfold of Islam on the Indian Ocean exchange It brought about the enlargement and intensification of commerce along already current trade routes.
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A transaction is ethically legitimate as long as someone wants to buy something and someone else is willing to sell it. When consumers are injured by a product and no one is at fault, the legal doctrine of strict product liability holds manufacturers accountable.
An option is the ideal decision (a). To prove strict liability, a defective product that has already left the producer must be demonstrated.
What does the term "defective item" mean?A product that doesn't function as it should is considered to be faulty. The goal of a patent infringement lawsuit is to make a manufacturer or distributor accountable for any losses brought on by an unsafe or faulty product.
Does broken equate to defective?Broken or faulty goods are deemed defective. A law that is flawed doesn't help the people it's supposed to protect, just like a malfunctioning blender won't make your morning smoothie just way you want it to.
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to minimize extra costs associated with future litigation, many businesses will include in their contracts . question 8 options: forum selection clauses no deal if sued clauses attorney's fees at twice the rate if the other side sues clauses removal jurisdiction clauses no contest clauses
Many companies will add a clause about forum selection in their contracts to reduce extra expenses related to potential litigation.
What does the term "litigation" mean?Making something the focus of a lawsuit will lead to a case, a problem, etc. being resolved in a legal court. The defense or resolution of legal issues between businesses and other organizations falls under the category of corporate litigation. It frequently refers to defending businesses that have been accused of misbehavior.
Why would a business choose to litigation?The main reason you decide to proceed to court may be to create a precedent that you're not a pushover or that you won't be forced into conceding in a baseless issue. The most valuable asset of a corporation may be its intellectual property, which should be safeguarded.
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for most large businesses, the cash basis of accounting will provide accurate financial statements for user needs.
Most humans and small provider groups may use the money basis of accounting. For most giant businesses, however, the cash basis will no longer provide correct economic statements for consumer needs.
Who makes use of cash basis accounting?The cash groundwork of accounting is the exercise of recording revenue when cash has been received, and recording expenses when cash has been paid out. The cash groundwork is commonly used by means of men and women and small businesses (especially those with no inventory), given that it includes the easiest accounting.
"For example, when shopping for workplace supplies, the enterprise commonly will pay cash for them. Under cash basis accounting, the business enterprise then has a enterprise rate and a discount in their money balance.”
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https://brainly.com/question/20397933#SPJ4suppose that a pure monopolist can sell 5 units of output at 4 per unit and 6 units at 3.9 the monopolist will produce and sell the sixth unit of its marginal cost is ____. A $4 or less
B. $3.90 or less
C. $3.50 or less
D. S3.40 or less
A pure monopolist can sell 5 units of output at 4 per unit and 6 units at 3.9 the monopolist will produce and sell the sixth unit of its marginal cost are $3.40 or less. A $4 or less
If a monopolist sells 5 units of output at $4 per unit,
Total revenue = 5*4 = $20.
If a monopolist sells 6 units of output at $3.90 per unit,
Total revenue = 6*3.90 = $23.4.
Marginal revenue of 6th unit = 23.4 - 20 = $3.4
MR = $3.4
If the marginal cost of the 6th unit is $3.4
Then, MR = MC,
This is the profit-maximizing condition,
Therefore, if the marginal cost of the 6th unit is $3.4 then the monopolist will be producing the 6th unit of output because profit is maximized at this output level.
If the marginal cost of the 6th unit of output is less than $3.4
Then, MR > MC
Here since marginal revenue is greater than marginal cost. Therefore, Marginal profit will be positive, so monopolists can produce a greater quantity of output.
Therefore, the monopolist will produce and sell the 6th unit if its marginal cost is $3.40 or less.
As Irving Fisher explained, a monopoly is a market without competition that creates a situation in which a particular person or firm is the sole supplier of a particular thing.
A monopolist is a person, group, or company that controls an entire market for a particular good or service. Monopolies are also more likely to believe in policies that favor monopolies because they give them greater power.
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which of the following reforms were part of the third wave of regulatory reforms that came in the 1960s and 1970s?
the groups hooked up have a broader mandate - the organizations established are much less likely to be influenced by a single industry reforms were part of the third wave of regulatory reforms that came in the 1960s and 1970s.
What is institution of agencies?A authorities employer may additionally be hooked up by using either a countrywide authorities or a nation authorities inside a federal system. Agencies can be hooked up by means of law or by govt powers. The autonomy, independence, and accountability of authorities businesses additionally fluctuate widely.
Why was once the organisation established?The first administrative organization was once created with the aid of Congress in 1789 to furnish pensions for wounded Revolutionary War soldiers. Also in the late 1700s, corporations had been created to decide the amount of duties charged on imported goods, however it used to be not until 1887 that the first everlasting administrative organisation was created.
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https://brainly.com/question/25701422#SPJ4umberto gets 20 utils from consuming guacamole and 15 utils from consuming salsa; fabian gets 30 utils from the same guacamole and 15 utils from salsa. given this information, a researcher can conclude that
a. Fabian gets more satisfaction from both guacamole and salsa.
b. Umberto will get more satisfaction from consuming one more unit of guacamole than Fabian will.
c. Umberto and Fabian prefer to consume a combination of guacamole and salsa.
d. Umberto and Fabian both prefer guacamole to salsa.
e. Umberto will get more satisfaction from consuming one more unit of salsa than Fabian will.
This information, a researcher can conclude that Fabian gets more satisfaction from both guacamole and salsa. Placing the study into the context of earlier research on the subject you've examined will help you quickly respond to the "so what?" inquiry.
Highlighting the significance of your ideas. Do not be timid. Researcher have the opportunity to go into further detail on the significance of your findings in the satisfaction conclusion. A summary is a succinct explanation or description of the most important ideas in a text, piece of study, or essay. The piece of the text, essay, or book that provides the final response to the research question is known as the conclusion.
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Enright Industrial Leasing has effective control processes, allowing its managers to discover ________ in bookkeeping right away, before a would-be embezzler could seriously affect its business.
irregularities and errors
Enright Industrial Leasing has effective control process, allowing its managers to discover irregularities and errors in bookkeeping right away, before a would-be embezzler could seriously affect its business.
The control process is the process in which the establishing standards and methods for measuring performance and measuring the performance.
In the control process, the business analysis is to determine whether performance matches the standard and taking the corrective action, in case there are discrepancies between actual performances and targeted goals.
The Enright Industrial Leasing has an effective control processes, allowing its managers to discover irregularities and errors.
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Rafia owns stocks of 15 different companies. Together, the stocks have a value of $78,640. Twelve percent of that total value is from one company, Gambrell & Valdez. The twelve percent figure is called a(n): Multiple Choice portfolio weight degree of risk. price-earnings ratio. index value. portfolio return.
Rafia owns stocks of 15 different companies. Together, the stocks have a value of $78,640. 12% of that total value is from one company, Gambrell & Valdez. The 12% figure is called portfolio weight. The correct option is a.
What is portfolio weight?Portfolio weight can be understood as the percentage of an investment portfolio that a particular holding or type of holding comprises. The most basic way to determine the weight of an asset is by dividing the dollar value of a security by the total dollar value of the portfolio.
A portfolio is created with weights in mind.
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True or False: In a marketing context, salespeople with high emotional intelligence are more effective in closing sales with consumers than are salespeople with low emotional intelligence.
emotional intelligence are more effective in closing sales with consumers than are salespeople with low emotional intelligence is true.
What exactly is emotional intelligence?Emotional Intelligence (EI) is the ability to manage your own emotions as well as understand the emotions of others. EI is comprised of five components: self-awareness, self-regulation, motivation, empathy, and social skills.
What are the 4 types of emotional intelligence?The four domains of Emotional Intelligence — self awareness, self management, social awareness, and relationship management — each can help a leader face any crisis with lower levels of stress, less emotional reactivity and fewer unintended consequences
Is emotional intelligence synonymous with empathy?Empathy is a critical component of Emotional Intelligence (EI). Simply put, it means "putting yourself in the shoes of another." As a result, you become more sensitive to the feelings and emotions of others.
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consider the following information on the expected return for companies x and y. calculate the expected value and the standard deviation of returns for companies x and y.
The expected value and the standard deviation of returns for companies x and y is 23.44 and 9.2260
E(X) = Summation (X × p(x)) =27×0.24 +17×0.44 + (-29×0.32)
=6.48+7.48-9.28 =4.68
E(Y) = summation (Y × p(y) =11×0.24 +29×0.44+10×0.32
= 2.64+12.76+3.2 = 18.6
Standard deviation of X =summation (Xi - E (x)) ^2 ×p (X))
= Sqrt ((27-4.68) ^2 ×0.24 +(17-4.68) ^2 ×0.44 +(-29-4.68) ^2 ×.32)
=Sqrt (498.18×0.24 +151.7824×0.44 + 1134.34×0.32)
Sqrt (119.56+66.78+362.98)
=Sqrt (549.33)
=23.44
Standard deviation of y=
Sqrt ((11-18.6) ^2 ×0.24 +(29-18.6) ^2×0.44 +(10-18.6) ^2 ×0.32
=Sqrt (13.8624+47.5904+23.6672)
Sqrt (85.12) = 9.2260
Solution (b)
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If the government or its representative agency were to take money out of the economy, which of the following might occur? Prices would decrease on goods and services.
If the government or its representative agency were to take money out of the economy, Prices would increase on the goods that remained for purchase. The correct option is A.
What is the monetary policy?By controlling the money supply, inflation and deflation, interest rates can be adjusted to control the economy, the cost of money, and band reserve requirements.
They cause a lack of supply because businesses will be less motivated to produce goods and services when prices are reduced. Price caps cause market shortages because they lower the cost of goods and services, which raises demand for those things.
Thus, the ideal selection is option A.
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Your Questions seem incomplete most probably your complete Question was:
What would happen if the government or its representative agency were to take money out of the economy?
Multiple Choice
Prices would increase on the goods that remained for purchase.
The unemployment rate in the economy would stabilize.
Prices would decrease on goods and services.
Another Great Depression might develop, and this is why governments do not take this action.
Use Table: Population Data for Roanoke County. If marginally attached workers are included the labor force in Roanoke County is: Table: Population for Roanoke County Demographic Group Number of Residents Employed 125,000 Unemployed and looking for work 3,000 Not working due to disability 1,000 Not working due to retirement 3.000 Unemployed and not looking for work due to 2.000 discouragement over job prospects Under the age of 16 40.000 Total Population 174,000 O 1.128.000 O 2. 130.000 O 3.131.000 O 4.134.000
The labor force is 130000. Optoin B.
Calculation:
Labor Force = Employed + Unemployed but actively looking for a job
Discouraged workers are called marginally attached workers.
So, in the country of Roanoke, when marginally attached workers are added to the labor force, then,
Labor Force including marginally attached worker = 125000 + 3000 + 2000 = 130000.
So, if marginally attached workers are included in the labor force, the labor force is 130000.
The labor force or workforce is a concept that refers to the pool of people who are either employed or unemployed. Usually used to describe a person who works in a single company or industry but can also apply to geographic regions such as cities states or countries. The labor force participation rate is an estimate of the active labor force in the economy.
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kayla, a salesperson, suggests to her team that a straight-line routing plan would be most appropriate for their accounts. however, sandra disagrees and says the cloverleaf model would work best for their accounts. which of the following, if true, would strengthen kayla's argument?
If the statements made in the arguments that we have here, the truth would be that: Accounts are located in clusters that are some distance from one another.
Who is a salesperson?A salesperson is someone whose primary responsibility is to sell goods or services. A different name for a salesperson is a sales rep (or sales representative). The terms salesperson and sales rep are sometimes substituted for the more traditional terms salesman and saleswoman. Both salespeople and salespersons are acceptable forms of the word's plural.
The salesman is in charge of welcoming customers, assisting them in finding what they're looking for in the business, and ringing up purchases. You need to communicate effectively if you want to succeed as a salesperson. Good salespeople achieve their goals while being courteous and helpful to their clients.
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If an online retailer has focused almost exclusively on demand harvesting efforts for the last few years, it shoulda. Shift its focus to demand generationb. Continue focusing on demand harvestingc. Shift its focus to loyalty buildingd. None of the above
If an online retailer has focused almost exclusively on demand harvesting efforts for the last few years, it should a shift its focus to loyalty building.
The online retailer or online shopping refers to the type of electronic commerce where customers directly buy products or services from a seller through the Internet (Apps or website) rather than physically store.
The online retailers sell their products online and why online retail business or company is simply a form of electronic commerce that enables consumers to buy products or services or shop directly from their phones, laptops, or other internet-connected devices from anywhere in the world.
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the total or market labor demand curve for a particular labor service is found by ____ the labor demand curves of all individual firms in the industry
summing
The total or market labor demand curve for particular labor service is found by summing labor demand curves of all individual firms in industry.
What is demand curve?A demand curve in economics is a graph that shows relationship between cost of a certain good (the y-axis) and the amount of that good that is desired at that cost (the x-axis). The link between price and quantity for a single consumer or for all consumers in a market can be examined using demand curves. The graph that follows demonstrates how demand curves are typically thought to slope downward. The law of demand, which states that as prices rise for most goods, demand declines, is the reason behind this. In a number of particular instances, this rule is broken. In order to determine the equilibrium price and equilibrium volume of a market with competition, demand and supply curves are often coupled.
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from a marketing perspective, pricing should be ; i.e., it should correspond to what customers perceive as the fair price of the product. from a marketing perspective, pricing should be ; i.e., it should correspond to what customers perceive as the fair price of the product. cost based competitor based value based profit based
There are different types of pricing : Cost Based , Competitor Based , Value Based and Profit Based Pricing.
Cost Based Pricing: Cost based pricing involves setting pric ,es based on the cost of producing the product. This approach can be used to ensure that the company is making a profit on the product. For example, if it costs the company $10 to produce a product, the company could set the price at $15 to ensure that a profit is made.
Competitor Based Pricing: Competitor based pricing involves setting prices based on what competitors are charging for similar products. This approach can be used to stay competitive in the market and ensure that customers are not being charged too much. For example, if a competitor is charging $15 for a similar product, the company could set its price at $14 to remain competitive.
Value Based Pricing: Value based pricing involves setting prices based on the perceived value of the product. This approach can be used to ensure that customers are paying a fair price for the product. For example, if the company believes that its product is worth $20, it could set the price at $20, even if the cost of production is lower.
Profit Based Pricing: Profit based pricing involves setting prices based on how much profit the company wants to make. This approach can be used to ensure that the company.
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With a floating exchange rate, an increase in the U.S. demand for Japanese exports will cause the supply curve for yen to: become less elastic decrease. Increase remain unchanged.
Investors will be less likely to supply yen for speculative purposes as the yen appreciates, resulting in a decline in the supply of yen. The Yen will ultimately appreciate as a result.
What causes the supply curve to change?
change in the supply curve An complete supply curve may move to the right or left due to changes in manufacturing costs and associated variables. As a result, a bigger or lower amount is provided at a specific price. The premise of ceteris paribus Assuming no other things change, supply curves show how prices and quantity delivered are related.
What kinds of supply curves are there?
Individual supply curves and market supply curves are the two categories of supply curves, respectively. Market supply curves depict the market supply timetable, whereas individual supply curves show the individual supply schedule.
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Natural resources are:
Multiple Choice
Tangible assets used in the operations of the business.
Consumable assets such standing timber, mineral deposits, and oil and gas fields.
Not subject to allocation to expense over their useful lives.
Current assets because they are depleted.
Depleted using a straight-line method.
Natural resources are consumable assets such standing timber, mineral deposits, and oil and gas fields.
Natural resources are assets that can be used up. Over the course of their useful lives, natural resources are subject to expenditure. Natural resources cannot be recycled and are not renewable. The income statement is debited for depletion costs related to the utilization of natural resources.
Natural resources are substances obtained from the earth that are used to sustain life and provide for human needs. Natural resources consists things like stone, sand, metals, oil, coal, and natural gas. Air, sunlight, soil, and water are examples of other natural resources.
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according to the figure, because of the imposition of a per-unit tax, the price buyers now pay for a disposable camera and the price sellers get to keep equals:
The price buyers now pay for a disposable camera and the price sellers get to keep equals $48 and $28 respectively.
Who are price buyers?
A price buyer is a shopper who makes decisions based solely on price. They are more concerned with price when shopping. They are sensitive to pricing. Fortunately, research indicates that these buyers are not prevalent in society. Buyer pleasure is the primary goal of all market actions, which are carried out with this in mind. It is a crucial component of the market. Buyers are either individuals or organizations who make purchases of products or services. First, it's important to recognize that there are three primary categories of consumers: average spenders, spendthrifts, and tightwads. This job needs a lot of research, as well as the ability to manage an inventory, negotiate contracts with suppliers, assess the quality of products, and stay within a budget.
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For most people, banking services consists of depositing their salaries into _____ and then writing drafts (or using debit cards) on those accounts to buy things.
For the majority of consumers, using banking services entails depositing their paychecks in CHECKING ACCOUNTS then utilizing those draughts to make purchases.
What is meant by banking?The business of banking involves safeguarding other people's money. When make loans this money, interest is generated that benefits both the bank or its clients. A financial entity with permission to receive deposits and issue loans is known as a bank. However, they might also offer additional financial services.
What are the two main types of banking?Commercial banks, which are consumer-facing like Bank of America, and central banks, which are government organisations that oversee monetary policy and regulate the sector, are included in the category of banking and finance.
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in markets with imperfect information: question 10 options: buyers and sellers will use resources to acquire information before making decisions buyers will use resources to acquire information before making a decision, but sellers do not need to acquire additional information before making a decision sellers will use resources to acquire information before making a decision, but buyers do not need to acquire additional information before making a decision neither buyers nor sellers will be able to acquire information in order to make decisions
Markets can handle imperfect information in a variety of ways.In markets for goods, customers who have limited knowledge of the products might rely on money-back guarantees.
How do markets respond to imperfect data? Markets can handle incomplete information in a variety of ways.Buyers in markets for goods may rely on money-back guarantees, warranties, service contracts, and reputation when they have incomplete knowledge about the products they are purchasing.Uncertainty or ignorance can also contribute to inaccurate information.Information becomes another need or demand if the market participant is aware that better information is available.Information may be purchased through a business deal and turn into a commodity that costs the buyer or seller money.If the buyer or seller lacks sufficient knowledge, they will make decisions based on insufficient data and produce inefficient results, which will result in market failure.To learn more about imperfect information refer
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Satisfying consumers' immediate needs and desires does not always serve the futurebest interests of either customers or the business.(T/F)
The answer is true. Strategic planning idea takes future business demands into account, whereas societal marketing concept examines the welfare of consumers in the future.
Sustainable marketing entails taking ethically sound steps to satisfy the needs of businesses and customers today while protecting or improving the ability of future generations to Strategic their own needs. The simplest strategy to boost sales and enhance profits in marketing is to fulfil client demands and wants. Finding what the customer wants and needs is the concept of desire in marketing. In order to persuade the consumer to purchase the goods, marketing tactics aim to satisfy various needs.
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Which of the following statements regarding global segmentation is true? Companies must continually adjust products and marketing strategies to meet the changing needs of global markets. Global segmentation activities are far less complicated than the same activities in the domestic market. When developing a global segmentation strategy, it is best to define segments by geography alone. The "golden rule" for global segmentation is to never alter a firm's marketing mix to serve the needs of global markets.
Companies must continually adjust products and marketing strategies to meet the changing needs of global markets
What do you mean by global market segmentation?
Global market segmentation is the process of identifying separate groups of prospective customers with homogenous features who are anticipated to exhibit comparable purchasing behavior, such as nation groups or individual consumer groups across nations. Segmentation is a critical strategic tool in international marketing since it determines whether a company is considered international or global, depending on the depth and scope of segmentation. While a global company views the entire world as a market and then divides it into manageable divisions, an international company has different marketing tactics for various country segments. The three primary segmentation techniques used in international marketing are macro-segmentation, micro-segmentation, and the hybrid approach.
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Which of the following is an example of a market failure?
A. The price of medical care has risen dramatically as a result of the introduction of sophisticated equipment and procedures.
B. There are not enough tickets available for everyone to attend concerts of extremely popular performers and artists.
C. A promising new Silicon Valley startup finds that they are operating at an economic loss and they decide to shut down.
D. A farmer uses chemical fertilizer on their fields that then leaches into the community’s groundwater.
Market failure, according to neoclassical economics, occurs when a free market fails to allocate products and services in a Pareto-efficient manner, frequently resulting in a net loss of economic value.
[1] Market failure can be seen as situations when people's pursuit of their own self-interest results in inefficient outcomes that can be rectified from a societal perspective. [2] [3] Although the word was first used by economists in 1958[4], Henry Sidgwick, a Victorian philosopher, is credited with the idea. [5] Public goods,[6] time-inconsistent preferences,[7] information asymmetries,[8] non-competitive markets, principal-agent issues, or externalities are frequently linked to market failure. [9] Self-regulatory organizations, governments, or supranational agencies frequently interfere when there is a market failure.
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corporate executives are already well aware of the impact supply chain management can have on their businesses.
False. Corporate executives are already well aware of the impact supply chain management can have on their businesses.
What is meant by supply chain management?The handling of a good or service's full manufacturing flow, from the raw materials to the delivery of the finished product to the customer, is known as supply chain management.
At its most basic level, supply chain management (SCM) is the control of the movement of materials, information, and money associated with a good or service from the acquisition of raw materials to the delivery of the good at the final location.
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corporate executives are already well aware of the impact supply chain management can have on their businesses. T oR f
in the coming decade, the number of photographers entering the field is expected to , and the demand for professional photographers is likely to .
In the coming decade, the number of photographers entering the field is expected to grow by 17% , and the demand for professional photographers is likely to grow 9% faster than average.
For a wide variety of artistic, technological, and documentary goals, photographers produce images that are permanently preserved. They are used in many different industries to produce photos of a very high professional caliber that are either neutral and factual or stylized and expressive.
A creative imagination is necessary to become a photographer.technical expertise in photography.the capacity to utilize a variety of cameras and lenses.to remain current with developing technology.being able to meet deadlines.a keen sense of color, form, and detail.a strong ability to communicate.To learn more about technology click here
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: From an initial equilibrium in the basic model that includes only the AD and LRAS curves, aggregate demand shocks caused by changes in the growth of money supply: O are neutral in neither the short run nor the long run. O are neutral in the short run only. O are neutral in both the short run and the long run. O are neutral in the long run only.
From an initial equilibrium in the basic model that includes only the AD and LRAS curves, aggregate demand shocks caused by changes in the growth of money supply are neutral in both the short run and the long run.
What is aggregate demand?
The overall demand for final products and services in an economy at a certain time is known in macroeconomics as aggregate demand, sometimes known as domestic final demand. Effective demand is a common name for it, however other times this term is used to make a distinction. This is a country's demand for its gross domestic output.
However, aggregate demand identifies the complete market for all goods and services that an economy generates and expresses it as an overall dollar value. The sum of consumption, investment, government spending, and net exports is aggregate demand.
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Concord Corporation agrees on January 1, 2020, to lease equipment from Packers, Inc. for 3 years. The lease calls for annual lease payments of $17,000 at the beginning of each year. The lease does not transfer ownership, contain a bargain purchase option, and is not a specialized asset. In addition, the economic life of the equipment is 10 years, and the present value of the lease payments is less than 90% of the fair value of the equipment. Assume that for Packers, Inc., the lessor, the collectibility of the lease payments is probable, and the fair value and cost of the equipment is $144,000. Prepare Packers’ 2020 journal entries, assuming the company uses straight-line depreciation and no salvage value.
Date
Account Titles and Explanation
Debit
Credit
1/1/2012/31/20
1/1/2012/31/20
(To record the recognition of the revenue each period) 1/1/2012/31/20
(To record depreciation expense on the leased equipment)
Lease Receivable (asset) $17,000 debit
To Lease Revenue (revenue) $17,000 credit
Write the journal entries and explain?Date: January 1, 2020 (beginning of the lease term)
Account Titles and Explanation:
Lease Receivable (asset) $17,000
Lease Revenue (revenue) $17,000
On the first day of the lease term, Packers, Inc. would recognize a lease receivable for the first annual lease payment of $17,000 and would also recognize lease revenue for the same amount. This is because Packers, Inc. has a right to receive payment for the lease of the equipment, and the revenue is earned over the term of the lease.
Date: December 31, 2020 (end of the year)
Account Titles and Explanation:
Depreciation Expense (expense) $12,000
Accumulated Depreciation (contra-asset) $12,000
(cost of the equipment - estimated residual value) / estimated useful life of the equipment = ($144,000 - $0) / 10 years = $14,400 per year. Since the lease term is 3 years, the depreciation expense for 2020 would be $14,400 / 3 = $4,800. In this case, the fraction of the year that has passed at the end of 2020 is 11/12 (since the lease began on January 1 and ended on December 31), so the adjusted depreciation expense for 2020 would be $4,800 * (11/12) = $4,266.67. This amount would be rounded to $4,267 for simplicity.
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For the past ten years, Bill and Margaret have saved money to go to the Super Bowl should their team, the Chicago Bears, reach the finals of the NFC championship. This is the year, and several tour companies offer attractive, but very similar, packages to the game. Since all packages are pretty much the same, they have chosen one that fits their budget. Bill and Margaret are most likely exhibiting ________.
They have selected a bundle that meets their budget because all of the packages are essentially the same. Most likely, Bill and Margaret are engaging in dissonance-reducing purchasing behavior.
Exhibition Buying to Reduce Dissonance?Dissonance-Reducing When a consumer makes a purchase, they are actively involved in the choice-making process and are unable to differentiate between the various options and brands available on the market that can satisfy their demands. According to the dictionary, dissonance is "a conflict of people's beliefs, deeds, or characters." In a similar manner, worry after purchases can be interpreted as buying that lessens dissonance. This usually happens when there aren't many differences between brands and the purchase requires a lot of work. This distinguishes it from complex purchasing situations when there are a variety of possibilities. Because of this, the consumer is unable to make an informed decision.
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if firms are losing money in a purely competitive industry, then the long run adjustments in this situation will cause the market price to: group of answer choices decrease, and the representative firm's profits will decrease increase, and the representative firm's profits will decrease increase, and the representative firm's profits will increase decrease, and the representative firm's profits will increase
Based on business strategy, and the available options, it is concluded that if firms are losing money in a purely competitive industry, then the long-run adjustments in this situation will cause the market price to increase, and the representative firm's profits will increase.
What are Competitive MarketsCompetitive Market is a term that is used to describe the market situation in which no single consumer or producer has the power to influence the market.
Generally, the competitive market's response to supply and demand fluctuates with the supply curve, a representation of a product's quantity.
Also, in the long-run equilibrium of a purely competitive market, the profit is zero. So, if firms are making money in the short run, they would not leave the market in the long run, increasing the supply that exists in the market.
Alternatively, if firms are losing money in a purely competitive industry, then the long-run adjustments in this situation will cause the market price to increase, and the representative firm's profits will increase.
This is because when companies start losing money, they leave the market in the long term. Thus, the remaining firms will benefit from increased prices because their profits also increase. This is a result of an increase in demand when there are fewer firms in the market.
Hence, in this case, it is concluded that the correct answer is option C. "increase, and the representative firm's profits will increase."
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