A firm bought a used machine 2 years ago for $4,500. A similar machine when new costs $8.000. Today, it would be sold for $1,000. The statement that is true is: Sunk cost is $4,500 Fixed cost is $8.000 Total machine cost is $8.000 Total machine cost is $7,000

Answers

Answer 1

The only statement that is true based on the given information is that the sunk cost is 4,500. the firm bought the used machine 2 years ago for 4,500.

Since this cost has already been paid and cannot be recovered, it is considered a sunk cost.


Fixed cost refers to costs that do not vary with the level of production or sales. However, the information provided does not mention anything about fixed costs.

So we cannot determine the value of the fixed cost from the given information. Total machine cost is not mentioned in the question.

To know more about production visit:

https://brainly.com/question/33702281

#SPJ11


Related Questions

Explain the risks of using a new international supplier.

b. Explain what can we do to manage the risks.

Answers

By conducting thorough research, establishing clear contracts, implementing supplier management systems, and diversifying your supplier base, you can effectively manage the risks associated with using a new international supplier.

Using a new international supplier can come with several risks. One major risk is the potential for unreliable product quality. The supplier may not have the same standards or quality control measures as your previous suppliers, leading to inconsistent or subpar products. Another risk is the possibility of delays or disruptions in the supply chain.


To manage these risks, there are several steps you can take. First, thoroughly research and vet potential international suppliers. Look for suppliers with a proven track record and positive customer reviews. Conduct site visits or audits to assess their facilities and quality control processes. Additionally, consider conducting a trial run or pilot project before fully committing to the supplier.

Secondly, establish clear and detailed contracts with the supplier. Clearly define product specifications, delivery schedules, and quality requirements. Include provisions for penalties or remedies in case of non-compliance.

Lastly, diversify your supplier base. Relying solely on one international supplier increases the risk of disruptions. Having alternative suppliers or backup plans in place can help mitigate these risks and ensure a more reliable supply chain.

To know more about possibility visit:

https://brainly.com/question/1229264

#SPJ11

There are two firms in the widget industry: Firm 1 and Firm 2. Suppose demand for widgets is given by P=100−q
1

−q
2

and each firm has a marginal cost of $60. Initially, Firm 1 and Firm 2 are producing 10 widgets each, but Firm 1 is considering increasing its production. (a) If Firm 1 increases its production by 5 widgets, how much does the price change? (b) How much profits does Firm 1 gain on the new widgets? How much profits does Firm 1 lose from lowering the price on existing units? (c) Would Firm 1 want to increase its production by 5 widgets? (d) If Firm 1 and Firm 2 were colluding to form a monopoly, would it be beneficial for the cartel if Firm 1 rose its production by 5 widgets? Why or why not?

Answers

The cartel would prefer to maintain production levels that maximize joint profits, rather than allowing Firm 1 to increase its production and undermine the monopoly's market power.

To determine how much the price changes when Firm 1 increases its production by 5 widgets, we need to calculate the change in quantity demanded. Initially, both Firm 1 and Firm 2 produce 10 widgets each, resulting in a total quantity of 20 widgets in the market. When Firm 1 increases its production by 5 widgets, the new quantity becomes 25 (10 + 5 + 10).Substituting the new quantity (25) into the demand equation P = 100 - q1 - q2, we get: P = 100 - 25, P = 75. Therefore, the price decreases from $100 to $75 when Firm 1 increases its production by 5 widgets(b) To calculate the profits gained and lost by Firm 1, we need to consider the marginal cost and the change in quantity. The marginal cost is given as $60.Profits gained on the new widgets:For the additional 5 widgets produced by Firm 1, the price is $75, and the marginal cost is $60. Hence, the profit per widget is $75 - $60 = $15. Therefore, the total profits gained on the new widgets are $15 × 5 = $75.Profits lost from lowering the price on existing units:Since the price decreases from $100 to $75, the profit per widget on the existing units decreases from $100 - $60 = $40 to $75 - $60 = $15. Thus, the loss in profit per widget is $40 - $15 = $25. The total profits lost from lowering the price on existing units are $25 × 10 (the initial quantity produced by Firm 1) = $250.(c) To determine whether Firm 1 would want to increase its production by5 widgets, we compare the gains and losses in profits. Firm 1 gains $75 in profits from the new widgets but loses $250 in profits from lowering the price on existing units. As a result, the total profits decrease by $250 - $75 = $175. Therefore, from a purely profit-maximizing perspective, Firm 1 would not want to increase its production by 5 widgets.(d) If Firm 1 and Firm 2 were colluding to form a monopoly, it would not be beneficial for the cartel if Firm 1 increased its production by 5 widgets. In a monopoly, firms aim to restrict output and maximize profits by acting as a single entity. By increasing production, Firm 1 would not only decrease the price and its own profits but also disrupt the cartel's ability to maintain higher prices. Therefore, the cartel would prefer to maintain production levels that maximize joint profits, rather than allowing Firm 1 to increase its production and undermine the monopoly's market power.

To learn more about profits:

https://brainly.com/question/29987711

#SPJ11

Market (inverse) demand is given by P=100−2Q=MB where MB is marginal benefit. Market (inverse) supply is given by P=10+0.5Q=MCP where MCP is private marginal cost. Suppose marginal external cost is given by MCE =0.5Q. The dead weight loss or efficiency loss from the market equilibrium is 0.5×6×[a]=[b].

Answers

The deadweight loss or efficiency loss from the market equilibrium is 3.

The deadweight loss or efficiency loss is a measure of the inefficiency of the market equilibrium. It is the loss of total surplus that occurs when the quantity of a good that is bought and sold is not at the market equilibrium level. In this case, the marginal external cost (MEC) is 0.5Q. The socially optimal quantity of the good is where marginal social cost (MSC) equals marginal social benefit (MSB).

In this case, the MSC equals MCP + MEC = 0.5Q + 10 and the MSB equals MB = 100 - 2Q.

Solving for Q at equilibrium, we get 24. Therefore, the deadweight loss is 0.5 x 6 x (24 - 30) = 3.

Know more about marginal external cost  here:

https://brainly.com/question/29643790

#SPJ11

Identify a process or scenario in any organisation where productivity is a major problem.

Collect Quantitative data that relate to the above problem. and come up with a problem statement.

Conduct extensive research (Related to QUANTITATIVE Operations management techniques)

Select the most suitable Quantitative Operations management technique(s) to solve your problem.

Fully explain the selected Quantitative Operations management technique(s).

Follow the general Approach to Quantitative Analysis for Management to solve the problem.

Make recommendations

Conclude.

Answers

In any organization, a process or scenario where productivity is a major problem can be seen in the manufacturing department.

Specifically, let's consider the process of assembling electronic devices.

To collect quantitative data related to this problem, you can measure the number of defective products produced per day,

the average time taken to assemble each device, and the total production output per day. Additionally,

you can track the number of work stoppages or delays during the assembly process.

Based on the problem identified, a suitable quantitative operations management technique to solve

this problem is Statistical Process Control (SPC). SPC involves analyzing process data to identify variations and take corrective actions.

SPC can be applied to this scenario by collecting data on the assembly process, such as the time taken for each step,

the number of defective devices, and any interruptions in the process. This data can then be plotted on control charts to monitor process performance and identify any out-of-control situations.

In conclusion, by applying SPC techniques and analyzing quantitative data, you can effectively address

the productivity problem in the assembly process. Continuous monitoring, analysis, and improvement

will help to enhance productivity and overall organizational performance.

To know more about scenario visit:

https://brainly.com/question/32720595

#SPJ11

Do you agree or disagree with the proposition that ""Shop owners should be allowed to open whenever they want""? Explain your position.

Answers

As an AI, I don't have personal opinions, but I can provide some insights. Whether shop owners should be allowed to open whenever they want is a matter of debate.

Supporters of this proposition argue that it promotes business flexibility, allowing shop owners to adapt to customer demands and maximize profit. It also offers convenience for customers, as they can access goods and services at any time.

On the other hand, opponents argue that unrestricted opening hours may have negative consequences. It could lead to exploitation of workers, as shop owners might force employees to work longer hours. It may also disrupt work-life balance for shop owners, as they may feel compelled to be available 24/7.

Ultimately, finding a balance is crucial. Regulations could be implemented to ensure fair working conditions and prevent exploitation, while still allowing some flexibility for shop owners.

To know more about exploitation visit:

https://brainly.com/question/15165384

#SPJ11

Assume that pencils and pens are substitutes. If the price of pencils rises, then we will see: A rightward shift in the demand curve for pens. A leftward shift in the demand curve for pens. An upward movement along the demand curve for pens. A downward movement along the demand curve for pens

Answers

When pencils and pens are substitutes, if the price of pencils rises, then we will see a leftward shift in the demand curve for pens. The reason is that as the price of pencils rises, the demand for pencils will decrease.

Therefore, customers will switch from using pencils to using pens since they are substitutes. The demand for pens will then increase as the price of pencils increases. The result will be a leftward shift in the demand curve for pens.

A leftward shift in the demand curve indicates a decrease in the quantity demanded at any given price. As a result, the demand curve shifts to the left when the price of a substitute increases. The above phenomenon is caused by the law of demand, which states that if the price of a good rises, its quantity demanded decreases, and vice versa.

In conclusion, when pencils and pens are substitutes, if the price of pencils rises, then we will see a leftward shift in the demand curve for pens. The decrease in the quantity demanded at any given price is indicated by a leftward shift in the demand curve.

To know more about law of demand visit:

brainly.com/question/30156553

#SPJ11

Heterodox economists, such as Fred Lee, argue that economic processes are "socially embedded" - they cannot be separated from the social context in which they operate. Consider the consumer theory and ans

Answers

Heterodox economists, like Fred Lee, argue that economic processes are "socially embedded," meaning they cannot be separated from the social context in which they exist. This perspective challenges the traditional neoclassical view that treats economics as an isolated and self-contained system.

Consumer theory, which is a fundamental concept in economics, also reflects this socially embedded perspective. It recognizes that individual consumption decisions are influenced by social factors such as cultural norms, social interactions, and income distribution.

To explain this, let's consider an example. In neoclassical economics, consumer theory assumes that individuals make rational decisions based on their own preferences and limited budget. However, heterodox economists argue that consumers' preferences and choices are shaped by social influences.

To know more about economic visit:

https://brainly.com/question/33708534

#SPJ11

According to Keynesians how could the economy's output deviate from its potential? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click twice to empty the box. When aggregate demand falls, in response firms lower production and lay off workers. This causes people's income to fall, thus lowering consumption expenditures further and causing firms to lower production. This downward spiral leads to an equilibrium where output is lower than potential output When aggregate demand falls, in response firms increase production and lay off workers. This causes people's income to increase thus lowering consumption expenditures further and causing firms to increase production. This upward spiral leads to an equilibrium where output is higher than potential output. When aggregate demand high, in response firms increase production and hire workers. This causes people's income to increase, thus increasing consumption expenditures further and causing firms to increase production. This upward spiral leads to an equilibrium where output is greater than potential output. When aggregate demand increases, in response firms lower production and lay off workers. This causes people's income to increase, thus lowering consumption expenditures further and causing firms to increase production. This downward spiral leads to an equilibrium where output is lower than potential output When aggregate demand falls, in response firms lower production and hire workers. This causes people's income to fall, thus increasing both saving and consumption expenditures further and causing firms to increase production. This leads to an equilibrium where output is equal to potential output

Answers

When aggregate demand falls, in response firms lower production and lay off workers. This causes people's income to fall, thus lowering consumption expenditures further and causing firms to lower production. This downward spiral leads to an equilibrium where output is lower than potential output. Hence option H is correct.

According to Keynesians, the economy's output could deviate from its potential in two ways:

Downward spiral: When aggregate demand falls, in response firms lower production and lay off workers. This causes people's income to fall, thus lowering consumption expenditures further and causing firms to lower production. This downward spiral leads to an equilibrium where output is lower than potential output.

Upward spiral: When aggregate demand increases, in response firms increase production and hire workers. This causes people's income to increase, thus increasing consumption expenditures further and causing firms to increase production. This upward spiral leads to an equilibrium where output is greater than potential output.

The Keynesian model is a useful tool for understanding how the economy can deviate from its potential output. However, it is important to remember that the model is not perfect. There are other factors that can also affect economic output, such as changes in technology and productivity.

To know more about the economy:

https://brainly.com/question/18461883

#SPJ4

Assume the innovators expected to invest an initial capital investment of $ 300 000 in the PillCam project at the beginning of the project, followed by a cash outflow of $ 20 000 for the in the first years. The PillCam project was expected to generate $ 50 000 in the first year, $ 80 000 in the second year, $ 110 000, in the third year, and $ 130 000 in the fourth year. The $ 300 000 was raised at the cost of 8%. On the other hand, the innovators were faced with another investment option to invest in a project that needed a once‐off initial capital investment of $ 150 000 that will generate a yearly cash inflow of $ 40 000 for the first 2 years, $70 000 at the end of the 3rd year, and $90 000 at the end of year 4. The initial investment’s cost of capital is 6%. Use the discounted cash flow analysis using the Net Present Value to evaluate the two projects and comment on whether the innovators made the right choice to invest in the PillCam project over the other project. Your comment must consider both the financial and non‐financial perspectives of the decision as well as the payback period of the project.

Answers

The innovators' choice to invest in the PillCam project appears to be the right decision based on the evaluation of Net Present Value (NPV) and considering financial and non-financial perspectives.

The NPV analysis calculates the present value of expected cash flows, considering the cost of capital. By comparing the NPVs of the PillCam project and the alternative project, we can determine which investment is more profitable. If the PillCam project has a higher NPV than the alternative project, it indicates that it is expected to generate higher returns.

Additionally, the evaluation should consider the payback period, which measures the time required to recover the initial investment. A shorter payback period suggests quicker returns and reduced risk.

Considering both financial and non-financial factors, such as strategic alignment, market potential, and long-term growth prospects, alongside the NPV and payback period, can provide a comprehensive assessment of the innovators' decision to invest in the PillCam project.

To learn more about innovators, Click here: brainly.com/question/31559615?

#SPJ11

Eds has been offered credit terms of 4/30, net 90 days. what will be the nominal annual percentage cost of its non-free trade credit if it pays 120 days after the purchase? (assume a 365-day year.)

Answers

The nominal annual percentage cost of non-free trade credit for Eds, when paying after 120 days, is approximately 16.93%.

To calculate the nominal annual percentage cost of non-free trade credit, we need to consider the credit terms and the number of days it takes for the payment to be made.

In this case, the credit terms are stated as "4/30, net 90 days." This means that the buyer (Eds) can receive a 4% discount if payment is made within 30 days. If the payment is not made within 30 days, the full amount is due within 90 days.

Given that Eds pays after 120 days, which is beyond the discount period, they will not receive the 4% discount. Therefore, the cost of the non-free trade credit will be calculated based on the full amount and the number of days beyond the discount period.

To calculate the nominal annual percentage cost, we can use the following formula:

Nominal Annual Percentage Cost = (Discount % / (1 - Discount %)) x (365 / (Payment Days - Discount Days))

In this case, the Discount % is 4% (0.04), the Payment Days is 120, and the Discount Days is 30.

Using the formula:

Nominal Annual Percentage Cost = (0.04 / (1 - 0.04)) x (365 / (120 - 30))

Nominal Annual Percentage Cost = (0.04 / 0.96) x (365 / 90)

Nominal Annual Percentage Cost = 0.0417 x 4.0556

Nominal Annual Percentage Cost ≈ 0.1693 or 16.93%

To learn more about trade

https://brainly.com/question/14926566

#SPJ11

Estimate (a) a regression of ln(vio) against shall and (b) a regression of ln(vio) against shall, incarc_rate, density, avginc, pop, pb1064, pw1064, and pm1029.

Answers

(a) The regression of ln(vio) against shall provides an estimate of the relationship between the natural logarithm of the variable "vio" and the variable "shall."

In regression analysis, the dependent variable (vio) is regressed against one or more independent variables (shall in this case) to estimate the relationship between them. By taking the natural logarithm of the dependent variable (ln(vio)), the regression model accounts for the potential nonlinear relationship between the variables.

By conducting the regression of ln(vio) against shall, we can estimate the effect of shall on the level of vio, while controlling for other factors. The regression coefficient for shall represents the average change in the natural logarithm of vio associated with a one-unit change in shall, assuming all other variables are held constant.

This regression model can be useful in understanding the impact of the variable shall on vio. It provides a quantitative estimate of the relationship and allows for statistical inference, such as hypothesis testing and confidence interval estimation, to assess the significance and precision of the estimated coefficient.

Learn more about regression analysis

brainly.com/question/33443994

#SPJ11

To succeed in an interview, you must prepare of success stories that demonstrate those skills desired by the employer. alot allot a lot

Answers

To succeed in an interview, prepare a lot of success stories showcasing desired skills sought by the employer.

In order to increase your chances of success in an interview, it is crucial to prepare a substantial number of success stories that highlight the skills and qualities desired by the employer. These stories should demonstrate your abilities in a practical and relatable manner. By presenting specific examples of past achievements, you provide concrete evidence of your capabilities and make a strong impression on the interviewer.

Preparing a lot of success stories allows you to tailor your responses to different interview questions effectively. Identify the key skills and attributes that the employer is seeking, and then select stories from your professional or personal experiences that showcase those qualities. It is important to choose stories that are relevant and demonstrate your ability to handle various situations or challenges successfully.

When preparing your success stories, remember to structure them using the STAR method: Situation, Task, Action, and Result. Clearly outline the situation or problem you faced, describe the task or objective, explain the actions you took to address the situation, and finally, highlight the positive results or outcomes you achieved.

Practicing these success stories beforehand will help you become more confident and articulate during the interview. Additionally, it allows you to provide concise and impactful responses that demonstrate your suitability for the position. Remember to adapt your stories to showcase different skills as per the employer's requirements and the questions asked during the interview.

By investing time and effort in preparing a lot of success stories, you will be well-equipped to impress the interviewer, stand out from other candidates, and increase your chances of securing the job.

Learn more about investing here:

https://brainly.com/question/31781807

#SPJ11

Financial Planning Exercise 5 Home equity line interest Kai and Ivy Harris have a home with an appraised value of $190,000 and a mortgage balance of only $95,000. a. Given that an S\&L is willing to lend money at a loan-to-value ratio of 75 percent, how big a home equity credit line can Kai and Ivy obtain? $ b. How much, if any, of this line would qualify as tax-deductible interest if their house originally cost $100,000? $

Answers

a. Kai and Ivy can obtain a home equity credit line of $142,500 and b. The entire credit line of $142,500 qualifies as tax-deductible interest..

To determine the size of the home equity credit line that Kai and Ivy can obtain, we need to calculate 75 percent of the appraised value of their home. .

a. Loan-to-value ratio is the percentage of the home's value that a lender is willing to lend. In this case, the S&L is willing to lend money at a loan-to-value ratio of 75 percent.

To calculate the home equity credit line, we multiply the appraised value of the home ($190,000) by the loan-to-value ratio (75 percent):

$190,000 x 0.75 = $142,500

So, Kai and Ivy can obtain a home equity credit line of $142,500.

b. To determine the amount of the credit line that qualifies as tax-deductible interest, we need to consider the original cost of the house ($100,000).

The tax-deductible interest is the interest paid on the amount borrowed that is used to improve or purchase the home. In this case, the mortgage balance is only $95,000, which is less than the original cost of the house ($100,000).

Therefore, the entire home equity credit line of $142,500 qualifies as tax-deductible interest since it is greater than the original cost of the house.

In summary:
a. Kai and Ivy can obtain a home equity credit line of $142,500.
b. The entire credit line of $142,500 qualifies as tax-deductible interest.

TO know more about mortgage  visit:

https://brainly.com/question/31751568

#SPJ1

a. Kai and Ivy can obtain a home equity credit line of $142,500.
b. The entire $95,000 of the home equity credit line qualifies as tax-deductible interest.

a. To determine the maximum home equity credit line Kai and Ivy can obtain, we need to calculate 75% of the appraised value of their home. Given that the appraised value is $190,000, we can calculate the credit line as follows:

$190,000 x 75% = $142,500

Therefore, Kai and Ivy can obtain a home equity credit line of $142,500.

b. To determine the tax-deductible interest, we need to consider the original cost of the house, which is given as $100,000. The tax-deductible interest is limited to the amount of the mortgage used to improve or acquire the home. In this case, the mortgage balance is only $95,000, which is less than the original cost of the house. Hence, the entire $95,000 qualifies as tax-deductible interest.

Therefore, the amount of the home equity credit line that qualifies as tax-deductible interest is $95,000.

To learn more about equity

https://brainly.com/question/33585348

#SPJ11

Given the following, determine the set A∩C′ : U={x∣x∈N and x<12}A={x∣x∈N and x is odd and x<12}C={x∣x∈N and x<9}​Select the correct choice below and, if necessary, fill in the answer box to complete your choice. A. A∩C′=(Use a comma to separate answers as needed. Use ascending order.) B. A A C' is the empty set.

Answers

To determine the set A∩C′, we need to find the elements that are common to both A and C′. First, let's find C′, which is the complement of set C. C consists of natural numbers less than 9.

Therefore, C′ would consist of natural numbers greater than or equal to 9.

Next, let's find A∩C′, which is the intersection of sets A and C′. A consists of odd natural numbers less than 12. So, A∩C′ would be the set of odd natural numbers less than 12 that are also greater than or equal to 9.

After evaluating the given conditions, we find that the elements that satisfy both A and C′ are 9 and 11. Thus, A∩C′ = {9, 11}.

Therefore, the correct choice is A. A∩C′ = {9, 11}.

To know more about determine visit:

https://brainly.com/question/29898039

#SPJ11

Find solutions for your homework
Find solutions for your homework

businessaccountingaccounting questions and answers8. mickey products inc., a wholesaler of office products, was organized on october 28 of the current year, with an authorization of 60,000 shares of preferred 3% stock, $50 par and 1,000,000 shares of $5 par common stock. the following transactions were completed during the first year of operations. journalize the following 4 transactions. a. oct. 28 issued
Question: 8. Mickey Products Inc., A Wholesaler Of Office Products, Was Organized On October 28 Of The Current Year, With An Authorization Of 60,000 Shares Of Preferred 3% Stock, $50 Par And 1,000,000 Shares Of $5 Par Common Stock. The Following Transactions Were Completed During The First Year Of Operations. Journalize The Following 4 Transactions. A. Oct. 28 Issued
8. Mickey Products Inc., a wholesaler of office products, was organized on October 28 of the current year, with an authorization of 60,000 shares of preferred 3% stock, $50 par and 1,000,000 shares of $5 par common stock. The following transactions were completed during the first year of operations. Journalize the following 4 transactions.

a. Oct. 28 Issued 400,000 shares of common stock at par for cash.

b. Oct. 28 Issued 1,000 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.

c. Dec. 6 Issued 40,000 shares of common stock in exchange for land, buildings, and equipment with fair market values of $40,000, $150,000, and $10,000 respectively.

d. Dec. 15 Issued 25,000 shares of Preferred Stock at $70 a share for cash.

Answers

To journalize the transactions, we need to record them in the general journal.

Dec. 15:

Cash (25,000 shares x $70)                 $1,750,000

Preferred Stock ($50 par)                        $1,750,000

Here are the journal entries for the four transactions:

Common stock, also known as ordinary shares or common shares, is a type of equity security that represents ownership in a corporation. When an investor purchases common stock, they become a partial owner or shareholder of the company.

a. Oct. 28:

Cash (400,000 shares x $5 par)         $2,000,000

Common Stock ($5 par)                          $2,000,000

b. Oct. 28:

Legal Fees Expense                           $5,000

Common Stock ($5 par)                          $5,000

c. Dec. 6:

Land                                        $40,000

Building                                    $150,000

Equipment                                  $10,000

Common Stock ($5 par)                         $200,000

d. Dec. 15:

Cash (25,000 shares x $70)                 $1,750,000

Preferred Stock ($50 par)                        $1,750,000

To know more about Common Stock, visit:

https://brainly.com/question/11453024

#SPJ11

He common stock issued amounts to $2,205,000 (2,000,000 + 5,000 + 200,000), and the preferred stock issued amounts to $1,750,000. These transactions represent the initial capital raised by the company through the issuance of stock.

To journalize the given transactions for Mickey Products Inc., we need to record them in the company's accounting books. Here are the journal entries for each transaction:

a. Oct. 28: Issued 400,000 shares of common stock at par for cash.

  Common Stock (400,000 * $5)     2,000,000

  Cash                                    2,000,000

b. Oct. 28: Issued 1,000 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.

  Legal Expenses (1,000 * $5)          5,000

  Common Stock (1,000 * $5)       5,000

c. Dec. 6: Issued 40,000 shares of common stock in exchange for land, buildings, and equipment with fair market values of $40,000, $150,000, and $10,000 respectively.

  Land                                         40,000

  Buildings                                  150,000

  Equipment                                  10,000

  Common Stock (40,000 * $5)    200,000

d. Dec. 15: Issued 25,000 shares of Preferred Stock at $70 a share for cash.

  Preferred Stock (25,000 * $70)   1,750,000

  Cash                                        1,750,000

In summary, the journal entries are as follows:

a. Common Stock (2,000,000)    2,000,000

  Cash                                      2,000,000

b. Legal Expenses (5,000)          5,000

  Common Stock (5,000)       5,000

c. Land (40,000)                          40,000

  Buildings (150,000)                150,000

  Equipment (10,000)                 10,000

  Common Stock (200,000)       200,000

d. Preferred Stock (1,750,000) 1,750,000

  Cash                                          1,750,000

Learn more about initial capital

https://brainly.com/question/25715888

#SPJ11

Person X is responsible for the potential projects and financial decisions. Assume that the discount rate is 20% Person X is considering a short-term project that develops new electric vehicle designs. This project has a cost of $72M today and will generate $108M next year. Explain the timeline for this project

Answers

The timeline for the short-term project can be understood by considering the cash flows associated with it. In this case, Person X is considering a project

that involves the development of new electric vehicle designs. Here's how the timeline would look:

1. Initial Investment (Today): The project requires an initial investment of $72 million. This cash outflow occurs at the beginning of the project.

2. Cash Inflow (Next Year): The project is expected to generate a cash inflow of $108 million next year. This represents the expected revenue or benefits generated by the project.

Based on this timeline, the project involves an initial cash outflow of $72 million (the cost) followed by a cash inflow of $108 million (the revenue) in the next year. The timeline spans across two periods, with the cash flows occurring at different points in time.

It's important to note that when evaluating the project, the discount rate of 20% should be considered. The discount rate represents the required rate of return or opportunity cost of capital, and it is used to account for the time value of money and the project's risk. By applying the discount rate, the present value of the cash inflow and outflow can be calculated to determine the project's net present value (NPV) and assess its viability.

To calculate the NPV, the future cash inflow of $108 million should be discounted back to the present value using the discount rate. Similarly, the initial investment of $72 million should also be discounted to its present value. The difference between the present value of the cash inflow and outflow represents the net present value of the project, which can then be used to evaluate its profitability and make a financial decision.

It's important to consider the project's timeline and the associated cash flows along with the discount rate to assess the project's financial viability and determine whether it is financially attractive for Person X to proceed with the short-term project.

learn more about  revenue here :

https://brainly.com/question/29567732

#SPJ11

according to the text, what is/are the main obstacle(s) that prevent(s) many novice entrepreneurs from employing the prediction approach to large endeavors, such as opening a new restaurant?

Answers

Lack of experience, limited resources, uncertainty and risk, lack of market research, and fear of failure are the main obstacles that prevent many novice entrepreneurs from employing the prediction approach to large endeavors, such as opening a new restaurant.

According to the text, there are several main obstacles that prevent many novice entrepreneurs from employing the prediction approach to large endeavors, such as opening a new restaurant. These obstacles include:
1. Lack of experience: Novice entrepreneurs often lack the necessary experience and knowledge in the specific industry they are entering. This makes it difficult for them to accurately predict the demand and success of their new venture.
2. Limited resources: Starting a new restaurant requires a significant amount of capital, resources, and connections. Novice entrepreneurs may struggle to secure the necessary funding and partnerships, which can hinder their ability to employ the prediction approach effectively.
3. Uncertainty and risk: The restaurant industry is highly competitive and unpredictable. Novice entrepreneurs may feel overwhelmed by the uncertainties and risks involved in opening a new restaurant. This can make it challenging for them to make accurate predictions and decisions based on those predictions.
4. Lack of market research: Successful prediction approaches require thorough market research and analysis. Novice entrepreneurs may not have the resources or knowledge to conduct comprehensive market research, leading to inaccurate predictions and decisions.
5. Fear of failure: Opening a new restaurant is a significant investment, both financially and emotionally. Novice entrepreneurs may be afraid of failure and the potential consequences that come with it. This fear can prevent them from taking risks and employing the prediction approach effectively.
for more question on entrepreneurs

https://brainly.com/question/29679635

#SPJ8

The problem of pollution typically arises in ______________ economies around the world. group of answer choices high-income low-income high or low-income middle income

Answers

The problem of pollution typically arises in both high-income and low-income economies around the world. The correct answer is A.

While it is commonly associated with high-income economies due to their higher levels of industrialization and consumption, pollution is also prevalent in low-income economies where limited resources, inadequate infrastructure, and lack of environmental regulations contribute to environmental degradation.

Middle-income economies can also face pollution challenges as they undergo rapid industrialization and urbanization. The severity of pollution may vary across different income groups, but it is a global concern affecting economies at various stages of development.

Efforts to address pollution require collaborative actions, sustainable practices, and effective policies across all income levels to protect the environment and promote sustainable development. The correct option is A.

To know more about pollution:

https://brainly.com/question/23857736

#SPJ4

--The given question is incomplete, the complete question is given below " The problem of pollution typically arises in ______________ economies around the world. group of answer choices

a, high-income low-income

b high or low-income

c middle income "--

select all correct responses. according to the nispom, automated audit trails must include enough information to determine what?

Answers

According to IT security best practices, some essential components of a strong password policy include: Length, complexity, regular updates, no personal information, and 2FA.

According to IT security best practices, some essential components of a strong password policy include:

Length: Passwords should have a minimum length requirement, typically recommended to be at least eight characters or more, to increase complexity and make them harder to guess or crack.Complexity: Passwords should include a combination of uppercase and lowercase letters, numbers, and special characters. This helps increase the difficulty of guessing or brute-forcing passwords.Regular Updates: Passwords should be periodically changed to minimize the risk of unauthorized access. Organizations often enforce password expiration policies that require users to update their passwords at regular intervals.No Personal Information: Passwords should not contain easily guessable personal information, such as names, birthdates, or phone numbers, to prevent attackers from exploiting known information about the user.Two-Factor Authentication (2FA): Implementing 2FA adds an additional layer of security by requiring users to provide a second form of verification, such as a code sent to their mobile device, along with their password.

For more such questions on IT security

https://brainly.com/question/30199506

#SPJ8

Complete question below :

According to IT security best practices, what are some essential components of a strong password policy? Select all that apply.

Tri-coat Paints has a current market value of $41 per share with earnings of $3.64. What is the present value of its growth opportunities (PVGO) if the required return is 12%?

Answers

The Present Value of Growth Opportunities (PVGO) for Tri-coat Paints, with a required return of 12%, is approximately $10.67 per share.

To calculate the Present Value of Growth Opportunities (PVGO), we need to subtract the present value of the dividends from the stock's current market value.

The PVGO can be calculated using the formula:

PVGO = Current Market Value - Present Value of Dividends

Given:

The current market value of Tri-coat Paints = $41 per share

Earnings per share = $3.64

Required return = 12%

First, we need to calculate the present value of dividends. The present value of dividends can be calculated using the formula:

Present Value of Dividends = Dividends / Required Return

Dividends = Earnings per share

Present Value of Dividends = $3.64 / 0.12

Present Value of Dividends = $30.33

Now, we can calculate the PVGO:

PVGO = Current Market Value - Present Value of Dividends

PVGO = $41 - $30.33

PVGO = $10.67

Learn more about PVGO here:

https://brainly.com/question/33250113

#SPJ4

Let's assume that a boctor's equilibrium price of a physical examination ("physical") is 5250 , and the govemnent imposes a price ceiling of $200 per pirysical. As a result of the price ceiling, the supply curve foc playsicals shifts to the left. quantity denunded of plysicals increases, and the quantity supplied of physicals decreases. number of phyncals periormed stays the same. demand curve for physicals shifts to the right.

Answers

A price ceiling is a government-imposed maximum price that can be charged for a good or service. In this case, the government sets a price ceiling of $200 per physical examination, which is significantly lower than the doctor's equilibrium price of $5250.

As a result of the price ceiling:

Equilibrium Price: The price ceiling is set below the doctor's equilibrium price. Consequently, the price cannot exceed $200, as mandated by the government.

Supply Curve: The price ceiling may lead to a decrease in the quantity supplied of physical examinations. Doctors may find it unprofitable to offer physicals at the capped price, leading to a reduction in the supply of physical examinations. This would cause a leftward shift in the supply curve.

Quantity Demanded: With the price ceiling set at $200, the physical examinations become more affordable for consumers. This is likely to increase the quantity demanded of physicals since more people can afford them. Therefore, the quantity demanded of physical examinations is likely to increase, resulting in a rightward shift of the demand curve.

Number of Physicals Performed: It is important to note that the number of physical examinations performed will not necessarily remain the same. With a decrease in the supply of physical examinations, it may be more challenging for patients to find doctors willing to offer the service at the capped price. Consequently, the actual number of physicals performed could decrease.

In summary, a price ceiling of $200 per physical examination would result in a lower equilibrium price, a leftward shift in the supply curve, a rightward shift in the demand curve, and potentially a decrease in the actual number of physical examinations performed.

To learn more about  examination : click here

https://brainly.com/question/4911468?

#SPJ11

You are the head of marketing at a major advertising agency. Write a memo to the art director telling her you dislike her team’s concept on a recent ad campaign. Be sure to include details of the advertising concept.

Answers

I am writing this memo to convey my disappointment with the recent advertising campaign your team proposed. Unfortunately, the concept of the ad campaign doesn't fulfill the requirements of our company and it does not send the message we want to portray through the ads.

Memo to the Art Director SUBJECT: Disapproval of Recent Ad CampaignDear [Art Director’s Name],I am writing this memo to convey my disappointment with the recent advertising campaign your team proposed. Unfortunately, the concept of the ad campaign doesn't fulfill the requirements of our company and it does not send the message we want to portray through the ads.Our client is looking for an ad campaign that is modern and innovative. Unfortunately, the ideas presented in the recent campaign appear outdated and unappealing. The marketing strategy we are attempting to portray is that our product is creative, fresh and high-quality. Your team's campaign is not in line with this strategy and does not deliver the message we require.I believe that there are several changes that need to be made to the concept to fit our marketing requirements. I would appreciate it if you could review the campaign and present your team’s revised idea at the next meeting. Please ensure that the revised concept aligns with the goals and visions of our client.Thank you for your understanding.Sincerely,[Your Name], Head of Marketing, [Your Company]

To know more about marketing strategy visit:

brainly.com/question/31854392

#SPJ11

When Langston Corporation was formed on January 1,20×5, the corporate charter provided for 100,000 shares of $10 par value common stock. The following transactions were among those engaged in by the corporation during its first month of operation: 1. The corporation issued 400 shares of stock to its lawyer in full payment of the $10,000 bill for assisting the company in drawing up its articles of incorporation and filing the proper papers with the state agency. 2. The company issued 16,000 shares of stock at a price of $50 per share. 3. The company issued 14.000 shares of stock in exchange for equipment that had a fair market value of $320,000. The entry to record transaction 3 is: Dr. Common Stock 140,000 Cr. Equipment 140,000 Dr. Equipment 140.000 Cr. Common Stock 140,000 Dr. Equipment 320,000 Cr. Common Stock 320,000 Dr. Equipment 320,000Cr. Common Stock 140,000 Cr. Additional Paid-in Capital 180,000 The Allowance for Uncollectible Accounts has a credit balance of $1,000. Net sales for the year were $500,000. In the past, 2 percent of sales have proved uncollectible, and an aging of accounts receivable accounts results in an estimate of $13,500 of uncollectible accounts. Using the percentage of net sales method Bad Debts Expense would be debited for $1,000. $10,000 $11.000 59,000 Use this inventory information for the month of July to answer the following question. Assuming that a perpetual inventory system is used, what is ending inventory cost using the FIFO method? $7,888 $3,704 $7,696 $3,712

Answers

Dr. Equipment $320,000,

Cr. Common Stock $140,000, Cr.

Additional Paid-in Capital $180,000.

Given information:

When Langston Corporation was formed on January 1,20×5, the corporate charter provided for 100,000 shares of $10 par value common stock. The following transactions were among those engaged in by the corporation during its first month of operation:

1. The corporation issued 400 shares of stock to its lawyer in full payment of the $10,000 bill for assisting the company in drawing up its articles of incorporation and filing the proper papers with the state agency.

2. The company issued 16,000 shares of stock at a price of $50 per share.

3. The company issued 14.000 shares of stock in exchange for equipment that had a fair market value of $320,000.The entry to record transaction 3 is:

Dr. Equipment 320,000Cr. Common Stock 140,000Cr. Additional Paid-in Capital 180,000

As given, the company issued 14,000 shares of stock in exchange for equipment that had a fair market value of $320,000.Therefore, the journal entry to record the above transaction will be:

Dr. Equipment $320,000Cr.

Common Stock $140,000Cr.

Additional Paid-in Capital $180,000

Hence, the option is

Dr. Equipment $320,000,

Cr. Common Stock $140,000, Cr.

Additional Paid-in Capital $180,000.

More on stock in exchange: https://brainly.com/question/23923210

#SPJ11

Drawn from the Module 4 Case Study) The ideal country of manufacture for the Superbook is Select one: a. A country with the competitive advantage of low labour costs and the ability to train local labour in technology b. A country with the competitive advantage of high technological capability and high labour costs c. A country that offers excellent internet services d. A western country that already has the ability to manufacture this product but with significant operating costs

Answers

Based on the Module 4 Case Study, the ideal country of manufacture for the Superbook is a country with the competitive advantage of low labor costs and the ability to train local labor in technology. Option (a) A country with the competitive advantage of low labor costs and the ability to train local labor in technology is the ideal country of manufacture for the Superbook.

This is because the Superbook is a low-cost laptop designed to be affordable for students in developing countries.

Therefore, if the manufacturing is done in a country with high labor costs, the cost of production will increase, and the final product will become more expensive. The Superbook is designed to be sold at an affordable price, and the cost of production is an essential factor that affects the selling price.

Therefore, low labor costs, high technological capability, and good internet services, among other factors, must be considered when selecting the country of manufacture.

More on labor costs: https://brainly.com/question/26527325

#SPJ11

Your updated tenancy schedule must include the following. 1. What is the percentage of the total area (\% of NLA) occupied by each tenant?

Answers

Tenant A occupies 25% of the NLA, Tenant B occupies 35% of the NLA, and Tenant C occupies 40% of the NLA.

The updated tenancy schedule provides information about the percentage of the total area occupied by each tenant. The total area of the property is referred to as Net Lettable Area (NLA). To calculate the percentage of NLA occupied by each tenant, we divide the area occupied by each tenant by the total NLA and multiply by 100.

For example, let's consider a property with a total NLA of 10,000 square feet. Tenant A occupies 2,500 square feet, Tenant B occupies 3,500 square feet, and Tenant C occupies 4,000 square feet.

To determine the percentage of NLA occupied by each tenant, we perform the following calculations:

Tenant A: (2,500 / 10,000) * 100 = 25% of NLA

Tenant B: (3,500 / 10,000) * 100 = 35% of NLA

Tenant C: (4,000 / 10,000) * 100 = 40% of NLA

Therefore, Tenant A occupies 25% of the NLA, Tenant B occupies 35% of the NLA, and Tenant C occupies 40% of the NLA.

The updated tenancy schedule will include these percentages, providing a clear breakdown of the area occupied by each tenant in relation to the total NLA of the property.

Learn more about NLA

https://brainly.com/question/13969108

#SPJ11

Perry. Inc. has $54.527 of finished goods imventory as of December 31 . If finished goods inventory at January 1 was $70,184 and COGS was $284,347, how much would Perry report for cost of goods manufactured? Type your answer.

Answers

Perry, Inc. would report a cost of goods manufactured of $268,690, considering the change in finished goods inventory and the cost of goods sold (COGS). The inventory decreased by $15,657, and COGS amounted to $284,347.

To determine the cost of goods manufactured for Perry, Inc., we need to calculate the change in finished goods inventory.

Change in finished goods inventory = Ending finished goods inventory - Beginning finished goods inventory

Change in finished goods inventory = $54,527 - $70,184

Change in finished goods inventory = -$15,657

The cost of goods manufactured is equal to the sum of the change in finished goods inventory and the cost of goods sold (COGS).

Cost of goods manufactured = Change in finished goods inventory + COGS

Cost of goods manufactured = -$15,657 + $284,347

Cost of goods manufactured = $268,690

Therefore, Perry, Inc. would report a cost of goods manufactured of $268,690.

Learn more about inventory here:-

https://brainly.com/question/28271409

#SPJ11

Sandhill Company purchases a licence from Redo Industries for the right to manufacture and sell products using Redo's processes and technologies. Sandhill estimates it will earn $6,800 per year from this licence over the next 10 years (at the end of each year). Assume Sandhill uses 12% as the discount rate. What is the value in use to Sandhill of this licence? (Round present value foctor calculations to 5 decimal piaces, es. 1.25124 and the final answer to O decimat places, es. 5.275.) Click here to view Table A.4 - PRESENT VAL.UE OF AN ORDINARY ANNUITY OF 1 The value in use

Answers

The value in use of the license to Sandhill Company is approximately $38,240.25, calculated based on the expected cash flows over the next 10 years and a discount rate of 12%.

To calculate the value in use of the license for Sandhill Company, we need to calculate the present value of the expected cash flows from the license over the next 10 years.

Given:

Annual cash flow from the license: $6,800

Number of years: 10

Discount rate: 12%

We can use the formula for calculating the present value of an annuity:

PV = CF * (1 - (1 + r)^(-n)) / r

Where:

PV = Present value

CF = Cash flow per period

r = Discount rate

n = Number of periods

Substituting the given values into the formula:

PV = $6,800 * (1 - (1 + 0.12) ⁽⁻¹⁰⁾) / 0.12

PV = $6,800 * (1 - 1.12 ⁽⁻¹⁰⁾) / 0.12

PV = $6,800 * (1 - 0.32197) / 0.12

PV = $6,800 * 0.67803 / 0.12

PV ≈ $38,240.25

Therefore, the value in use to Sandhill Company of this license is approximately $38,240.25.

Learn more about Discount rate at:

https://brainly.com/question/13660799

#SPJ11

Related to Checkpoint​ 6.2) ​ (Present value of an ordinary​annuity) What is the present value of ​$3 comma 500 per year for 9 years discounted back to the present at 10 ​percent? The present value of ​$3 comma 500 per year for 9 years discounted back to the present at 10 percent is ​$ nothing. ​(Round to the nearest​cent.)

Answers

The present value of $3,500 per year for 9 years discounted back to the present at 10 percent is $21,507.50.

To calculate the present value of an ordinary annuity, we can use the formula:
[tex]PV = PMT * [(1 - (1 + r)^(-n)) / r][/tex]

where PV is the present value, PMT is the payment amount per period, r is the interest rate per period, and n is the number of periods.

In this case, the payment amount is $3,500 per year for 9 years, and the interest rate is 10 percent.

Plugging these values into the formula, we have:

[tex]PV = $3,500 * [(1 - (1 + 0.10)^(-9)) / 0.10][/tex]

Simplifying this calculation, we get:

PV = $3,500 * [(1 - 0.3855) / 0.10]
  = $3,500 * [0.6145 / 0.10]
  = $3,500 * 6.145
  = $21,507.50

Therefore, the present value of $3,500 per year for 9 years discounted back to the present at 10 percent is $21,507.50. (Round to the nearest cent)

Learn more about present value from this link:

https://brainly.com/question/30390056

#SPJ11

What are some of the advantages of a perfectly competitive market in an economy? Use one specific business to describe a clear example of your personal observation of perfect competition.

Answers

The advantages of perfect competition in agriculture are that it keeps prices low for consumers and encourages innovation among farmers.

The presence of competition among businesses is a key factor in determining the efficiency of the market. When firms compete, they will become more efficient in producing goods and services that consumers demand and at a lower cost. This is due to the fact that the businesses must be innovative in order to stay competitive. The market price of the products is therefore reduced to a more reasonable level. Perfect competition enables businesses to keep costs as low as possible in order to attract customers. Consumers benefit because they can buy goods and services at a lower cost than they would otherwise. This is particularly true for essential goods and services, such as food, transportation, and housing.

In a perfectly competitive market, businesses must compete with one another to remain in operation. If a business is unable to compete, it will either be forced to lower prices, which may lead to lower profits, or to shut down. This serves as a check on businesses that might otherwise engage in unethical or fraudulent practices.

To know more about perfect competition, visit:

brainly.com/question/32771715

#SPJ11

What is an annuity? What is a perpetuity?

Provide examples of each

What is the difference between an annuity and a perpetuity?

What is the purpose of an annuity? What is the purpose of a perpetuity?

Advantages and disadvantages of each

Answers

Annuity: An annuity is a financial product or contract that provides a series of regular payments over a specified period of time.

These payments can be made monthly, quarterly, annually, or at any other predetermined interval. Annuities are commonly used for retirement planning or to provide a steady income stream. Example: A retirement annuity where an individual contributes a fixed amount each month and receives monthly payments during their retirement years. Perpetuity: A perpetuity is a type of annuity that has no predetermined end date. It provides a stream of regular payments indefinitely, without ever terminating. Perpetuities are often used in financial valuation models or when calculating the value of stocks with constant dividends. Example: A perpetual bond where the issuer pays a fixed coupon payment to the bondholder indefinitely, without any maturity date. Difference between Annuity and Perpetuity: The key difference between an annuity and a perpetuity is the duration of the payments. An annuity has a fixed period of payments, whereas a perpetuity has an infinite duration.

Learn more about annuity here:

https://brainly.com/question/30974690

#SPJ11

Other Questions
If decisions are based more on emotion than logic, what do you think is the ideal blend of logical data presentation and storytelling to help inform sound decision making? Ducati Case Porters Five Forces of Competition Framework (Industry Competitor/Rivalry; Bargaining Power of Suppliers; Bargaining Power of Buyers/Customers; Threat of Substitutes/Substitute Competition; Threat of New Entrants) A chemist samples a river's water to measure the amount of fertilizer runoff from the area farms. In a 0.0790 L sample, the chemist measures 389g of nitrate. Express the concentration of nitrate in parts per million ( ppm ) and parts per billion (ppb). Assume the density of the river water sample is 1.00 g/mL. concentration: concentration: Solve each equation. x + 6x 9 = 1 . How did the answer come Stored energy from an efficiently functioning stretch-shortening cycle is released during which muscle action? Calculating Present Values [ LO2] Imprudential, Inc., has an unfunded pension liability of $450 million that must be paid in 20 years. To assess the value of the firm's stock, financial analysts want to discount this liability back to the present. If the relevant discount rate is 5.2 percent, what is the present value of this liability? Describe why managers should have strong decision making skills? Describe the constraints and challenges facing managers in todays internal work environment. Critically review and discuss the methods in reducing the project schedule. Measurement A vacant lot is in the shape of an isosceles triangle. It is between two streets that intersect at an 85.9 angle. Each of the sides of the lot that face these streets is 150 ft long. Find the perimeter of the lot to the nearest foot. Give the argument as to why marginal cost (MC) can equal both the change in total cost divided by the change in output and the change in total variable cost divided by the change in output when total cost and variable cost are not equal? Solve each quadratic equation by completing the square. 25 x+30 x=12 . 6 Describe how the ITAS system works, how to register and how to use it. Assess its effectiveness in meeting NamRA objectives. (Support your answer with examples) To qualify as a contestant in a race, a runner has to be in the fastest 16% of all applicants. The running times are normally distributed, with a mean of 63 min and a standard deviation of 4 min. To the nearest minute, what is the qualifying time for the race? A commercial bank will loan your client $483,690 for 10 years to buy a boat. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 10.82 percent of the unpaid balance compounded monthly. What is the amount of the monthly payments? Round the answer to two decimal places. Consider a risk adverse individual with preferences given by U(w)=w5. Assume their initial level of wealth is w=144. They face What is the difference between an external and an internal labor market? How are they connected? Can a firm decide on its own what wages to pay in the internal labor market, or do the market forces of supply and demand have the same influences? Would the supply of labor become more or less sensitive to the nonpecuniary aspects of employment (such as working conditions)? Would market forces still be able automatically to police the social conditions of labor? Calculate the total revenue, marginal revenue, profits or losses, and production costs. Create a line plot that shows total costs, total fixed costs, and total variable costs. Create a line plot that shows production costs. Include AFC, AVC, ATC, and MC. Identify the profit maximizing price and quantity. Explain your answer. The moment I chose to become a psychology student, I knew I was going to finish my bachelors degree and become a teacher for elementary or high school. I said I would go back to school to pursue a masters degree, and after some research. that is still the plan. I am interested in pursuing a PhD in clinical psychology; however, I know myself and it most likely will be done later down the road. With a masters degree, the career field widens just a bit more than with a bachelors. For example, if you want to teach at a community college, they require at least a masters in psychology. "The most common hob titles are counselors (20%), psychologists (13%), social workers (5%), and other mid-level managers" (Landrum & Davis, 2020). With this being I am more interested in family social work and pediatric psychology. Both of these careers work with children and needing to understand their behavior, so I would need to focus on behavioral psychology when studying for my masters degree. There are a few important steps you need to do before you can start applying to graduate schools. First, do your research. Figure out what you want to specialize in, what graduate program you are looking to apply for, and which will set you up for a good path to your future career. Next, research different programs and schools that have what you are looking for. For example, if you're going to study clinical psychology, you don't want to apply to schools that specialize in social psychology programs. Next, get in contact with your current or past professors or counselors to write you letters of recommendation. Make sure to do this ahead of time so you do not rush them. After you contact your professors, schools are also going to need a letter of intent from you personally. You need to write this to the best of your ability while explaining what you want to study, what specific field, and what you plan to do with this degree. After you have all of the appropriate paperwork, you start applying to the schools or programs that you are interested in. You need to understand that psychology is a popular choice when it comes to graduate training. According to figure 6.2 in the textbook (2020), the average rate of acceptance for all 11 masters degree specialties within the chart is 48.3%. This should not dissuade you from applying, It's actually recommended that you apply for 10-12 different programs/schools. The next step is simply waiting for acceptance/rejection letters. Admission committees look for a variety of factors when admitting students. "Grade point. average, graduate record examination, letters of recommendation, letter of intent, and research experience" (Landrum \& Davis, 2020). After the committee accepts the students, they have until (around) April 15 th, to accept or reject the admissions offer. The next steps are up to you and your new school/program! If two parties trade based on comparative advantage and both gains, in what range must the price of the trade lie?