Fat-E should carefully evaluate the trade-offs of modal change, order quantity requirements, transit time, inventory management, operational efficiency, costs, and supplier relationships.
Title: Analysis of Supplier Change for Fat-E: Chinese Supplier vs. Edmonton Supplier
Introduction:
Fat-E is considering changing suppliers from their Chinese supplier to a new supplier in Edmonton, Alberta. This report analyzes the potential impacts of this supplier change on Fat-E's operations, focusing on the modal change from less-than-container load (LCL) to truckload (TL) and the implications for people and processes.
1. Modal Change from LCL to TL:
- Operational Elements: LCL involves longer transit times and consolidated cargo, while TL offers faster delivery with a full truckload of goods. The Chinese supplier includes freight costs, while the Edmonton supplier requires the buyer to arrange and pay for transportation.
2. Impacts of Supplier Change on Fat-E:
- Inventory Management: Shifting to TL shipments may require adjustments in inventory management and storage capacity due to larger order quantities.
- Operational Efficiency: The Edmonton supplier reduces transit time, enhancing operational efficiency and responsiveness. However, managing TL shipments and coordinating pickup appointments may require process modifications.
- Costs: Additional transportation costs, such as hiring carriers and fuel surcharges, need to be considered.
- Supplier Relationship: Building a new relationship with the Edmonton supplier requires effective communication and ongoing supplier management.
Conclusion:
Fat-E should carefully evaluate the trade-offs of modal change, order quantity requirements, transit time, inventory management, operational efficiency, costs, and supplier relationships. If reduced transit time and operational efficiency outweigh the challenges of full truckload orders and self-arranged transportation, transitioning to the Edmonton supplier could be beneficial. However, a comprehensive analysis of the potential impacts and alignment with Fat-E's specific requirements is crucial for making an informed decision.
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Provide responses to the following questions
1. What is the purpose of a staffing management plan? What does it address?
2. Whom should the project manager consult when performing resource leveling?
3. Describe the two primary techniques for compressing a schedule?
4. When crashing a project schedule, describe the two criteria that are considered when considering which activities will be sped up.
The purpose of a staffing management plan is to outline the approach and strategies for acquiring, developing, and managing the project team. It addresses various aspects related to staffing, such as roles and responsibilities, organizational structure, resource requirements, recruitment and selection methods, training and development plans, and performance management.
The plan ensures that the project has the right people with the necessary skills and competencies to successfully execute the project and achieve its objectives.When performing resource leveling, the project manager should consult with stakeholders who have knowledge of the project's requirements, constraints, and available resources.
This may include functional managers, team leads, department heads, or subject matter experts who can provide insights on resource availability, skill sets, and allocation priorities. It is important to involve those who have a clear understanding of the project's objectives and can help in making informed decisions about resource allocation and leveling.
The two primary techniques for compressing a schedule are fast-tracking and crashing. Fast-tracking involves overlapping or parallelizing activities that would normally be done sequentially, thereby reducing the overall project duration. This approach involves taking calculated risks as it may increase the likelihood of rework or errors.
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Bonnie Ltd sells car batteries, with branches Rundu and Okahandja. The branch in Okahandja has incurred losses for the past two years. The board of Bonnie Ltd approved a formal plan for the discontinuance of the Rundu branch on the 31 July 2020. The board had approved a formal document for the piecemeal sale of the assets of the branch and redemption of liabilities on the same day. The branch closure has been published in the Namibian news papers on the 01 September 2021 and all assets placed for sale on marked prices. The board does expect the discontinuance of the Rundu branch to be completed by the 31March2021. The following information relates to the financial period ended 31 December 2020 before the discontinued operations : Page 16 of 28 FACULTY OF COMMERCE, MANAGEMENT AND LAW Ignore income tax No comparatives required a) Discuss whether the closure of the Rundu branch qualifies to be classified as non-current assets held for sale, as per requirements of IFRS 15 (10) b) Prepare the statement of profit and loss and other comprehensive income for Bonnie Ltd for the period ended 31 December 2020 (10) c) Prepare the notes to the financial statements for Bonnie Ltd for the period ended 31 December 2021. Notes should include the below: -Accounting policies (5) - Discontinued operations (10) -Non-current assets held for sale (5)
Whether the closure of the Rundu branch qualifies to be classified as non-current assets held for sale, as per requirements of IFRS 5 (10)
The closure of the Rundu branch qualifies to be classified as non-current assets held for sale, as per the requirements of IFRS 5. To qualify, the assets must be available for immediate sale in their existing condition. Furthermore, the sale must be highly likely to occur, and the asset should be disposed of within a year of its classification as held for sale. The plan to close Rundu branch was approved on July 31, 2020, and the sale of assets of the branch was approved on the same day. Furthermore, the assets were placed for sale on marked prices and the branch closure was announced in the Namibian newspapers on September 1, 2021. It is evident that the assets are available for immediate sale, and the sale is highly likely to occur. Therefore, the closure of Rundu branch qualifies to be classified as non-current assets held for sale, as per the requirements of IFRS 5.
Accounting policies used by Bonnie Ltd are in compliance with the International Financial Reporting Standards (IFRS). A decision to discontinue the operations of Rundu Branch was made by the board of Bonnie Ltd on July 31, 2020. The branch closure was announced in the Namibian newspapers on September 1, 2021. Furthermore, a formal document for the piecemeal sale of the assets of the branch and redemption of liabilities was approved on the same day. The expected completion date of the discontinuance of the Rundu branch is March 31, 2021. The result of the Rundu branch for the period ended December 31, 2020, has been classified as discontinued operations in the financial statements. The assets of Rundu Branch have been classified as non-current assets held for sale in compliance with IFRS 5. To qualify, the assets must be available for immediate sale in their existing condition. Furthermore, the sale must be highly likely to occur, and the asset should be disposed of within a year of its classification as held for sale.
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[Blow Up] Devin has several full gas cans in the bed of her pick-up truck, because she runs a landscaping company and needs the gas for her mowers. On the way home from the gas station, Devin stops at her bank and exits her truck. Teresa pulls behind her and negligently rear-ends Devin's pick-up. The truck explodes and results in the bank building burning to the ground. The bank sues Teresa for negligence claiming that Teresa should have to pay for the entire bank building. The bank claims that it should be able to recover under the res ipsa loquitur doctrine.
Is Teresa the proximate cause of the bank burning?
Group of answer choices
A. Teresa is not the proximate case of the accident because her actions were not the cause in fact of the accident.
B. Teresa's actions were the proximate cause of the bank's burning because actual cause is present.
C. Teresa's actions were not the proximate cause of the accident because actual causation cannot be established since it was foreseeable that gas can result in a fire.
D. Teresa's actions were the proximate cause of the bank's burning because cause in fact can be established.
E. Teresa is not the proximate cause of the bank burning because it was not foreseeable that Devin would have gas in the back of her pick-up truck that would result in such a fire.
In the given situation, the bank sued Teresa for negligence and claimed that Teresa should have to pay for the entire bank building. It further claimed that it should be able to recover under the res ipsa loquitur doctrine. It is required to determine whether Teresa is the proximate cause of the bank burning.
Proximate cause is defined as an event that is nearest in time and space to the cause of an injury, and is necessary to set in motion the chain of events leading to the injury. In the given situation,
the proximate cause of the bank burning is Teresa because actual cause can be established.
The actual cause means the direct cause of the accident that resulted in injury or damage. Here, the accident occurred because Teresa negligently rear-ended Devin's pick-up. Due to the collision,
Devin's truck exploded, and the bank building caught fire.
It can be concluded that Teresa's actions were the proximate cause of the bank's burning because actual cause is present. Hence, the correct option is B.
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Transactions must be entered correctly into the organisational
journal system, following organisational policies and procedures
and accounting requirements. Which journal should you use for the
follow
When you make transactions, you have to be careful to enter them correctly into your organizational journal system in accordance with the company's policies and accounting requirements. Journal entries are a process of recording financial transactions in chronological order, that is, as they occur.
Journal entries are one of the most important tasks for bookkeeping, and they serve as a basis for generating financial statements. Accounting software can help in recording transactions and generating journal entries. Accounting journals can be classified as: General Journal, Sales Journal, Purchases Journal, Cash Receipts Journal, and Cash Disbursements Journal.
Below are examples of each of the journals and the types of transactions that should be recorded in them:
General Journal is the most widely used journal, and it can be used to record any transaction not included in other journals. General journal entries include correcting journal entries, adjusting entries, opening entries, and closing entries.
Sales Journal is used to record credit sales and invoice transactions. Cash receipts are not included in this journal.
Purchases Journal is used to record credit purchases and invoice transactions. Cash payments are not included in this journal.
Cash Receipts Journal is used to record all cash receipts from sales and other sources, such as interest income.
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Please calculate the following ratios
• Asset Turnover (Net Sales / average total assets)
• Current Ratio
• ROA
To calculate the given ratios Asset Turnover, Current Ratio and ROA is
0.056 or 5.6%.
To calculate the given ratios, we use the following formulas;
Asset Turnover = Net Sales / Average total assets
Current Ratio = Current Assets / Current Liabilities
ROA = Net Income / Average total assets
We can now calculate the given ratios as follows;
1. Asset Turnover (Net Sales / average total assets)Asset Turnover
= Net Sales / Average total assets
= $80,000 / ($600,000 + $400,000) / 2
= $80,000 / $500,000= 0.16 or 16%2.
Current Ratio = Current Assets / Current Liabilities
= $140,000 / $90,000
= 1.56 or 1.56:13. ROA
ROA = Net Income / Average total assets
= $28,000 / ($600,000 + $400,000) / 2
= $28,000 / $500,000
= 0.056 or 5.6%
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4)
A)Compare and contrast the role of tribalism in Sub-Saharan Africa with that of nationalism in Europe. How might competing forms of social loyalties explain some of the development challenges and opportunities for this region?
B) Consider the development model put forward by the United States and Europe, with an emphasis on foreign assistance, and China’s emphasis on foreign investment. Will Chinese influence in the region alter the course of development for Sub-Saharan Africa?
There are concerns about the sustainability of this model and the potential for debt distress and environmental degradation.
A) The role of tribalism in Sub-Saharan Africa is different from that of nationalism in Europe. Tribalism is based on common ancestry and cultural traditions that create a sense of belonging among people of the same tribe, while nationalism emphasizes political unity and shared citizenship in a nation-state. Both forms of social loyalty have contributed to development challenges and opportunities in the region. Tribalism has sometimes led to conflicts between tribes, while nationalism has led to the formation of nation-states that have struggled to balance ethnic and linguistic diversity with political unity.
B) China's influence in the region is likely to alter the course of development for Sub-Saharan Africa, as it has emphasized foreign investment over foreign assistance. This has led to the development of infrastructure projects and the expansion of trade and investment between China and African countries.
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Problem 01-02 (algo)
What is the maximum amount you would pay for an asset that
generates an income of $350,000 at the end of each of five years,
if the opportunity cost of using funds is 10 percent?
What is the maximum amount you would pay for an asset that generates an income of $350,000 at the end of each of five years if the opportunity cost of using funds is 10 percent.
The maximum amount to be paid for an asset generating an income of $350,000 at the end of each of five years, given the opportunity cost of using funds is 10 percent can be found using the formula:
PV = Pmt (1 - 1 / (1 + r)n) / r
where PV is the present value of future cash flows
PMT is the payment received at the end of each period
n is the number of periods
sr is the discount rate
Using the above formula, we can calculate the present value of the cash flows as follows:
PV = $350,000 (1 - 1 / (1 + 0.10)5) / 0.10PV
= $1,328,236.86
Therefore, the maximum amount that can be paid for an asset that generates an income of $350,000 at the end of each of five years is $1,328,236.86.
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Ralph is offered a free ticket to a Yankees game - a ticket he cannot resell. His opportunity cost of going to the baseball game is: whatever Ralph would have done had he not gone to the game. the pri
The opportunity cost of going to the baseball game for Ralph is whatever he would have done had he not gone to the game.
Opportunity cost refers to the value of the next best alternative that must be foregone when making a choice. In this case, if Ralph decides to attend the Yankees game, he cannot engage in any other activity during that time. Therefore, the opportunity cost is the value or enjoyment he would have derived from the alternative activity he could have engaged in instead.
For example, if Ralph would have spent his time going to a movie with friends or working on a personal project, the opportunity cost of going to the baseball game would be the enjoyment or progress he would have experienced from those activities. It is important to consider the benefits or opportunities that are sacrificed when making a decision to fully understand the concept of opportunity
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Both Archer's and Burger Bar hove price-earnings ratios of 16.2. However, Archer's has a higher PEG retio then Burger Bar. It must be true that than Burger Bar Archer's 13:30 Multiple Choice ences has more net income has a higher market value per share is increasing its earnings at a lower rate has a higher market to book ratio has a higher earnings growth rate
Previous question
If Archer's has a higher PEG ratio than Burger Bar, and both companies have price-earnings ratios of 16.2, then it must be true that Burger Bar is increasing its earnings at a lower rate.
The PEG ratio is used to determine the stock's value by taking into account its price-to-earnings (P/E) ratio and its projected earnings growth rate. A higher PEG ratio typically indicates that a stock is overvalued in relation to its earnings growth rate, while a lower PEG ratio indicates that a stock is undervalued in relation to its earnings growth rate. Therefore, if Archer's has a higher PEG ratio than Burger Bar, it means that the market believes Archer's is overvalued in relation to its earnings growth rate, while Burger Bar is undervalued in relation to its earnings growth rate. Since both companies have the same P/E ratio, the only way for Archer's to have a higher PEG ratio than Burger Bar is if Archer's has a lower earnings growth rate than Burger Bar. Therefore, the correct answer is that Burger Bar is increasing its earnings at a lower rate.
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Suppose that starting from an initial condition where a consumer is facing a budget constraint, the price of good y decreases by 30% and the price of good x stays the same while income decreases by 20%. On a graph where the budget line is drawn with the quantity of good x on the horizontal axis and the quantity of good y on the vertical axis, the new budget line
a.
is steeper than the old one and lies below it.
b.
is steeper than the old one and lies above it.
c.
is flatter than the old one and lies above it.
d.
crosses the old budget line.
e.
is flatter than the old one and lies below it.
The new budget line is flatter than the old one and lies below it, representing the consumer's reduced purchasing power after the decrease in income.
The new budget line, after the price of good y decreases by 30% and the price of good x stays the same while income decreases by 20%, will be flatter than the old one and lies below it.
When the price of good y decreases, it means that the consumer can now afford more units of good y with the same amount of money.
This causes the budget line to rotate outward, as the consumer has more purchasing power for good y.
On the other hand, when income decreases, it means that the consumer has less money to spend on both goods x and y. This causes the budget line to shift inward, as the consumer's overall purchasing power decreases.
Since the price of good x stays the same, the slope of the budget line remains unchanged.
However, the new budget line will be flatter because the decrease in income limits the consumer's ability to purchase both goods.
In conclusion, the new budget line is flatter than the old one and lies below it, representing the consumer's reduced purchasing power after the decrease in income.
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Brands are useful to identify a product or service and distinguish it from competitor offerings. However, brands cannot create awareness, reputation, or preference for a product or service.
True or False?
False: Brands are indeed useful in identifying a product or service and differentiating it from its competitors. However, brands play a crucial role in creating awareness, reputation, and preference for a product or service.
Let's break it down step by step.
1. Brands create awareness: A well-established brand name and logo can help to generate awareness among consumers.
For example, think about popular brands like Nike or Coca-Cola.
These brands have created strong awareness through consistent marketing efforts and a recognizable brand identity.
2. Brands build reputation: A brand's reputation is based on the perception of consumers.
When a brand consistently delivers high-quality products or services, it builds a positive reputation.
Conversely, if a brand fails to meet expectations, its reputation can suffer.
Reputation is crucial for building trust and attracting loyal customers.
3. Brands influence preference: A strong brand can influence consumer preferences. Consumers often choose products or services associated with reputable and trusted brands.
For example, someone might prefer to buy a smartphone from Apple because they trust the brand's quality and innovation.
In summary, brands not only help identify a product or service but also create awareness, reputation, and preference. So, the statement "brands cannot create awareness, reputation, or preference for a product or service" is false.
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Mary Magnolla has variable costs equal to y2/F, where y is the number of bouquets she sells per month and where Fls the number of square feet of space in her shop. Marginal cost of a bouquet is 2y/F. If Mary has signed a lease for a shop with 600 square feet, If she is not able to get out of the lease or to expand her store in the short run, and if the price of a bouquet is $8 per unit, how many bouquets per month should she sell in the short run?
800
400
2640
1200
2400
To determine how many bouquets Mary should sell per month in the short run, we need to find the quantity that maximizes her profit.
Mary's profit is given by the formula: Profit = Total Revenue - Total Cost.
Total Revenue = Price per unit * Quantity = $8 * y.
Total Cost = Fixed Cost + Variable Cost = 0 (since Mary cannot change the lease or expand her store) + Variable Cost.
Variable Cost = y^2 / F.
To find the quantity that maximizes profit, we need to find the quantity where marginal cost equals marginal revenue.
Marginal Cost = 2y / F.
Marginal Revenue = Price per unit = $8.
Setting Marginal Cost equal to Marginal Revenue:
2y / F = 8.
Solving for y:
2y = 8F.
y = 4F.
Since Mary's shop has 600 square feet (F = 600), we can calculate the quantity:
y = 4 * 600 = 2400.
Therefore, Mary should sell 2400 bouquets per month in the short run.
The correct answer is 2400.
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The president of the Micro Brewing Corporation asks you, as the company economist,to forecast changes in consumer beer purchases associated with a proposed price change.You conduct a survey and find that if the price of a six-pack increases from $5.50 to $7.50, the quantity demanded will decrease from 2200 units to 1800 units a month. Should the Micro Brewing Corporation raise its price? (Explain the economic basis for this recommendation to the president.) considered, the price clasticity of demand coefficient isS,using the midpoints formula (Fill all blanks below and provide the price elasticity of demand.) Q,-Q (+012 =pa (2200+ /2 soelasticinelastic,unit-elastic P-P, P+P/2 (5.50+ /2 An increase in price when demand is(elasticnelasti unit-elastic will increase total revenue. This increase in total revenue also can be shown by multiplication. With a price of $5.50 times a quantity of 2200 per month, the total revenue was $QWith the higher price of$7.50 times a lower revenue from raising the price.
Based on the information provided, the price elasticity of demand can be calculated using the midpoint formula. The price elasticity of demand measures the responsiveness of quantity demanded to a change in price.
Using the midpoint formula, the price elasticity of demand can be calculated as follows:
Elasticity = ((Q2 - Q1) / ((Q2 + Q1) / 2)) / ((P2 - P1) / ((P2 + P1) / 2))
Given the initial quantity demanded (Q1) of 2200 units and the final quantity demanded (Q2) of 1800 units, and the initial price (P1) of $5.50 and the final price (P2) of $7.50, we can calculate the price elasticity of demand.
Elasticity = ((1800 - 2200) / ((1800 + 2200) / 2)) / (($7.50 - $5.50) / (($7.50 + $5.50) / 2))
Simplifying the equation, we have:
Elasticity = ((-400) / 2000) / (2 / 6.5)
Elasticity = (-0.2) / (0.3077)
Elasticity ≈ -0.649
The price elasticity of demand is -0.649. Since the absolute value of the price elasticity of demand is less than 1, the demand for beer is inelastic.
Inelastic demand means that the percentage change in quantity demanded is less than the percentage change in price. In this case, a price increase of $2.00 (from $5.50 to $7.50) leads to a decrease in quantity demanded of 400 units (from 2200 to 1800 units).
Based on this information, the Micro Brewing Corporation should consider raising its price. When demand is inelastic, an increase in price leads to an increase in total revenue. This increase in total revenue can be shown by multiplying the price and quantity.
With a price of $5.50 and a quantity of 2200 units, the total revenue was $12,100 (5.50 * 2200). With the higher price of $7.50 and a quantity of 1800 units, the total revenue is $13,500 (7.50 * 1800).
In conclusion, raising the price from $5.50 to $7.50 would likely increase total revenue for the Micro Brewing Corporation, as the demand for beer is inelastic.
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- Paragraph Format
- In-depth Answers
ETHICAL DILEMMA The Astro Mill Company has several loans outstanding with a local bank. The debt agreements all contain a covenant stipulating that Astro must maintain a current ratio of at least 0.9.
The ethical dilemma faced by Astro Mill Company is that they must maintain a current ratio of at least 0.9, and they have several loans outstanding with a local bank.
The current ratio is calculated by dividing the current assets by the current liabilities of a company. It is an important measure of a company's liquidity and its ability to pay off its short-term obligations. The management of Astro Mill Company is facing a situation where they have to decide whether to manipulate the company's financial statements.
If they manipulate the financial statements, they are violating the covenant with the bank, which is unethical and illegal. If they default on their loans, it can lead to bankruptcy and the closure of the company, which would result in job losses for the employees.
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About fifty years ago, the EPA, Environmental Protection Agency, embraced command and control laws. Later on, the EPA made adjustments and updates. These laws and their adjustments,
A/draws distinctions between the needs of firms and costly equipment upgrades.
B/are given considerable credit for cleaner air and water in recent decades.
C/ were an inexpensive incentive for industrial polluters to improve performance.
D/ were necessary as US industries had zero incentive to control pollution.
The laws and adjustments made by the EPA, which-b. are given considerable credit for cleaner air and water in recent decades is the correct option from the given options.
What is it?Environmental Protection Agency (EPA) is an American independent executive agency, established in 1970 by President Richard Nixon with the aim of protecting human health and the environment from pollution and other hazards.
They developed laws and regulations that protect the environment and public health and had made significant adjustments over time to ensure their effectiveness.
About fifty years ago, the EPA embraced command and control laws. Later on, the EPA made adjustments and updates.
The laws and their adjustments, which are given considerable credit for cleaner air and water in recent decades, are the result of the agency’s work over the years.
The EPA regulations and other policies are developed based on scientific evidence and economic analysis.
They have encouraged companies to implement pollution prevention measures, improved energy efficiency, and use of renewable energy sources, thereby reducing the environmental impact of their activities.
Therefore, option B is the correct answer.
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Suppose that each firm has the cost function cy)-y+ 4 for y> 0 and c(0) = 0. Marginal cost is MC(y2y. With industry demand given by Dip)=50-p, the equilibrium price and equilibrium number of firms in the Industry (in that order) will be
$4 and 23.
$8 and 21.
$2 and 24
$6 and 22.
$1 and 50.
We are given the cost function of a firm as [tex]$c(y)=y^2-y+4$ for $y>0$ and $c(0)=0$[/tex] where y is the output level. We know that the industry demand is given by [tex]$D(p)=50-p$[/tex].
We need to find the equilibrium price and the equilibrium number of firms in the industry.
The equilibrium price is the price at which the quantity demanded is equal to the quantity supplied, i.e., at which the market clears. In the short run, this means that the marginal cost of production of each firm is equal to the market price.
Mathematically, we can write this condition as:
[tex]$$MC(y) = p$$where $MC(y)$[/tex]
is the marginal cost of production of a firm and p is the market price. We are given the marginal cost of a firm as
[tex]$MC(y)=2y-1$.[/tex]
Substituting this value in the above equation, we get: [tex]$$2y-1 = p$$[/tex]
Solving this equation for y, we get:[tex]$$y = \frac{1+p}{2}$$[/tex].
We know that the total quantity supplied in the industry is equal to the sum of the quantities supplied by each firm. If there are n identical firms in the industry, then the total quantity supplied is given by: [tex]$Q_s = n\cdot y$[/tex]
Substituting the value of y, we get:[tex]$Q_s = \frac{n(1+p)}{2}$.[/tex]
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Shimmer Co. deposits all receipts intact on the day received and makes all payments by cheque. On July 31,2020 , after all posting was completed, its Cash account showed a \( \$ 10,893 \) debit balanc
Shimmer Co. had a \$10,893 debit balance in its Cash account after completing all postings. This indicates that the company had more payments than receipts during the given period.
We can provide a detailed explanation of the possible reasons behind this result. Shimmer Co. is a company that deposits all receipts on the day received and makes all payments by cheque. A debit balance in its Cash account indicates that the total amount of cheques issued during the period was greater than the total amount of receipts collected.
There can be several reasons why this happened. For instance, the company may have had a higher volume of expenses during the period, such as salaries, rent, utilities, and other overhead costs. Additionally, the company may have faced unexpected expenses or losses, such as bad debts or damages.
Another possible reason for the debit balance could be delays or errors in collecting payments from customers. If the company had a high volume of outstanding invoices, it may have struggled to collect all receipts on time, resulting in a cash shortage.
A debit balance in Shimmer Co.'s Cash account after completing all postings indicates that the company had more payments than receipts during the given period. This can happen due to various reasons, such as high expenses, unexpected losses, or delays in collecting payments. It is essential for the company to monitor its cash flow regularly and take corrective actions as needed to maintain a healthy financial position.
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Which of these is not the purpose of a business plan? A. planning tool and working plan over the course of several years B. planning for ""what-if"" scenarios and explore new options C.thoroughly explain a business idea and how it will be carried out D. requirement to start a business
D. Requirement to start a business is not the purpose of a business plan. A business plan serves multiple functions, such as being a planning tool and working plan over the course.
A business plan serves multiple functions, such as being a planning tool and working plan over the course of several years, planning for "what-if" scenarios and exploring new options, and thoroughly explaining a business idea and how it will be carried out. However, it is important to note that while a business plan is not a requirement to start a business, it is highly recommended and beneficial for guiding the business's operations, attracting investors, securing financing, and demonstrating the viability and potential success of the venture
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Consider two wood pulp firms with the following marginal cost schedules. Firm A produces the first ton of pulp at $1 per ton, the 2nd ton at $2/ton, the 3rd at $3, etc., while firm B produces 2 tons of pulp at $1 per ton, tons 3 and 4 at $2 per ton and so forth. Note: You need a graph for parts a. and b. of this problem (one graph can be used for both parts). No graph, no points.
a.) (5 points) If 30 tons of pulp are to be produced, what outputs at each plant would minimize the total cost of the pulp?
b.) (5 points) Suppose the market price for pulp is $10/ton. How much will each plant produce?
c.) (5 points) Suppose now, along with each ton of pulp produced, the firms produce a ton of pollutants, which decrease the value of the surrounding area by $2 per ton. What is the economically efficient level of output at each plant?
d.) (5 points) Suppose the government simply ordered the firms to cut back pulp production to 3 tons each. Would that result in efficient use of resources? Explain.
a) To minimize the total cost of producing 30 tons of pulp, we need to determine the point at which the marginal cost equals the market price. In this case, both firms have increasing marginal costs, but Firm A has a lower cost structure. Therefore, Firm A would produce the first 15 tons of pulp, and Firm B would produce the remaining 15 tons.
b) If the market price for pulp is $10 per ton, both firms would produce up to the point where their marginal cost equals the market price. Firm A would produce 6 tons of pulp (up to its marginal cost of $6 per ton), and Firm B would produce 4 tons of pulp (up to its marginal cost of $4 per ton).
c) Considering the negative externality of pollution, the economically efficient level of output would be where the marginal social cost (including the cost of pollution) equals the market price. In this case, both firms would produce up to the point where their marginal cost plus the cost of pollution equals the market price of $10 per ton.
d) If the government simply ordered the firms to cut back pulp production to 3 tons each, it may not result in an efficient use of resources. The efficient level of output is determined by the marginal cost equaling the market price, taking into account all relevant costs, including externalities. By forcing both firms to produce only 3 tons each, the government is not considering the different cost structures and marginal costs of the firms. This could lead to a situation where resources are underutilized or misallocated, potentially resulting in inefficiency.
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Firms in competitive markets can only earn economic profits in
the long run, once the market is in equilibrium.
a. True
b. False
Firms in competitive markets can only earn economic profits in the long run, once the market is in equilibrium. The given statement is true.
What is a competitive market?A competitive market is a market with numerous suppliers and purchasers with easy entry and exit of new entrants. These firms produce identical products and are therefore price takers in the market.A firm can only earn economic profits in the long run, once the market is in equilibrium.
What is economic profit?A firm's economic profit is the difference between the revenue received from selling its goods and the total opportunity costs of producing those goods.
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Food insecurity is an issue for many Americans-particularly those facing financial constraints. A recent study found that supermarket firms are times less likely to build their stores in poorer neighborhoods than in wealthy neighborhoods. 1) Five 2) Two 3) Four 4) Three
A recent study found that supermarket firms are four times less likely to build their stores in poorer neighborhoods than in wealthy neighborhoods.
Food insecurity is an issue for many Americans, especially those facing financial constraints. The disparities in store location often lead to lower-income individuals facing significant challenges in accessing healthy and affordable food. According to the United States Department of Agriculture (USDA), low-income communities often have fewer supermarkets, which contributes to limited access to healthy food options.
Such disparities limit residents' ability to purchase healthy food items and make it harder for them to maintain a healthy diet, leading to diet-related diseases such as diabetes and heart disease. Furthermore, without healthy food options, the local economy suffers as residents have less disposable income to spend on other goods and services. Therefore, there is a need to address food insecurity as a crucial element in reducing poverty and building an economy that works for everyone.
In conclusion, it is essential to address the disparities in store location to reduce food insecurity. The government should collaborate with private corporations to provide incentives to build grocery stores in low-income areas. Furthermore, providing affordable transportation services for low-income residents to travel to areas with grocery stores would enhance access to healthy and affordable food.
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what was the most interesting microeconomics topic/concept we covered this semester?
One of the most interesting microeconomics topic/concepts we covered this semester was the law of diminishing marginal utility. It states that as we consume more and more units of a good, the additional satisfaction we get from consuming each additional unit of the good decreases.
This concept is significant in explaining consumer behavior, and it helps businesses to understand how consumers make decisions about what they buy and how much they are willing to pay for it. This law has far-reaching implications in the field of microeconomics.
It provides insight into how consumers allocate their limited resources among different goods, and how they make trade-offs between different goods. This concept is important to businesses because it helps them to understand how consumers make purchasing decisions and how they can price their products to maximize profit.
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4) Turn the cell reference in cell C22 into an absolute cell
reference for both the row and column
C22
5) Find the minimum of cells C26 through G26 in cell I26
Sales 54,141 14,845 41,467 15,486 17,765
Absolute cell reference in excel an absolute cell reference is a cell reference that does not change even if you move or copy the formula to another cell.
It is created by adding a dollar sign ($) before the column and row reference of the cell address. In order to turn the cell reference in cell C22 into an absolute cell reference for both the row and column, you would use the following formula Finding the minimum of cells in Excel.
The MIN function in Excel is used to find the smallest value among a set of numbers. In order to find the minimum of cells C26 through G26 in cell I26, you would use the following formula:
17765The formula would return the value 14,845, which is the smallest value in the range C26:G26.
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Minimum of 300 words and please site your work in APA format as needed Some believe that embracing Corporate Social Responsibility (CSR) can be a competitive advantage; others believe that doing so is inconsistent with the role of business and wastes important business resources. What do you think and why? Research and cite sources that support your position.
The debate surrounding Corporate Social Responsibility (CSR) revolves around whether it provides a competitive advantage or is incompatible with the role of business. Different perspectives exist on this matter.
Some argue that embracing CSR can indeed be a competitive advantage, while others believe it is inconsistent with the purpose of business and can waste valuable resources.
Advocates of CSR as a competitive advantage argue that it enhances a company's reputation, builds customer loyalty, and attracts socially conscious consumers.
By engaging in responsible business practices, such as reducing environmental impact, supporting local communities, and promoting ethical supply chains, companies can differentiate themselves from competitors.
This can lead to increased sales, brand loyalty, and positive word-of-mouth.
On the other hand, critics of CSR argue that businesses have a primary responsibility to generate profits for their shareholders, rather than addressing social and environmental issues.
They argue that diverting resources towards CSR initiatives can potentially harm profitability and distract from a company's core objectives.
Critics contend that societal problems are better addressed through government and nonprofit organizations, rather than placing the burden solely on businesses.
To support the view that embracing CSR can be a competitive advantage, studies have shown that consumers are increasingly considering a company's social and environmental practices when making purchasing decisions.
For example, a 2015 Nielsen survey found that 66% of global consumers are willing to pay more for products and services from companies committed to positive social and environmental impact.
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What innovative strategy do you recommend improving AMC theaters viability? Why should leaders believe your innovative strategy will work?
In order to improve AMC theaters viability, an innovative strategy that can be recommended is investing in virtual reality (VR) technology to offer an immersive movie experience. This can be achieved by offering a VR headset to customers, that would allow them to experience the movie in a 360-degree view and sound.
This technology will differentiate the AMC theater experience from its competitors and provide value-added service to customers.
This strategy is aimed at enhancing the in-person experience of watching a movie, which has been lost to online streaming services. By providing a VR experience, AMC theaters can offer an experience that cannot be replicated at home.
Moreover, it would cater to a wider audience, including tech-savvy young adults and people who prefer not to sit in crowded theaters. The new technology will also allow AMC theaters to screen more movies without space limitations.
In conclusion, investing in VR technology is an innovative strategy that can enhance the viability of AMC theaters by offering a differentiated service that caters to a wide audience.
This strategy has the potential to attract more customers, especially those looking for a unique experience, and thus improve the financial position of AMC theaters.
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hich of the following assertions about the cyclomatic complexity is false?
Cyclomatic complexity is a metric that measures the complexity of a program's source code. It is a quantitative measure that determines how difficult it is to comprehend and test the code. Cyclomatic complexity is calculated by examining the control flow graph of the program and counting the number of paths.
The more complex the code, the more paths it will have and the higher the cyclomatic complexity score will be. Here are some assertions about cyclomatic complexity:False Assertion: Cyclomatic complexity only takes into account the number of decision statements in a program. This is incorrect. Cyclomatic complexity considers the number of paths through a program, not simply the number of decision statements. The number of paths determines the complexity of the program. True Assertions:1. Cyclomatic complexity is related to program size.
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Player A decides how many cookies to bake and Player B decides how to divide the cookies between them. There are two sizes of trays that Player A can use. The large tray fits 20 cookies while the small tray fits 10 cookies. Player B can either choose to divide the cookies that Player A bakes equally or can choose a split which leaves Player A with 10% of the cookies and Player B with 90% of the cookies. (a) (7 marks) Suppose the two players move simultaneously. Write this game in normal form. You can assume that each player's payoff is equal to the number of cookies consumed by that player. Find the pure strategy NE of this game. (b) ( γ marks) Suppose Player A moves first. Write this game in extensive form. Find the SPNE for this game. In particular, state the players' SPNE strategies, the SPNE paths, and the SPNE payoffs. (c) (8 marks) Is this a game with a first-mover or second-mover advantage? (d) (3 marks) Give a brief intuitive explanation for your answer in part (c).
The game described involves two players, A and B, where Player A decides how many cookies to bake and Player B decides how to divide the cookies between them.
(a) In the normal form, Player A's choices are to bake either 10 cookies (using the small tray) or 20 cookies (using the large tray), while Player B's choices are to divide the cookies equally or unequally. The payoffs are based on the number of cookies consumed. The pure strategy NE is for Player A to bake 10 cookies with the small tray, and Player B to choose an equal split, resulting in both players receiving 5 cookies.
(b) In the extensive form, with Player A moving first, the game can be represented as a sequential game tree. Player A chooses the tray size, and Player B chooses the division of cookies. The SPNE is for Player A to choose the small tray, and Player B to choose the equal split, resulting in both players receiving 5 cookies. The SPNE path is determined by Player A's first move, followed by Player B's response.
(c) This game does not have a first-mover or second-mover advantage. Both players can achieve their highest payoff by following the SPNE strategy. The advantage does not depend on the order of moves, but on the strategic choices made.
(d) The lack of a first-mover or second-mover advantage in this game can be attributed to the simultaneous nature of the decision-making process. The players make their choices simultaneously without knowledge of each other's decisions, and the SPNE is derived based on the best response to all possible strategies. This equilibrium ensures that neither player can unilaterally deviate from the optimal strategy, leading to an equal payoff for both players.
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If John promises $900 in 3 years, Present Value of that $900 using 6%Interest Rate is,1.557.66 2.665.77 3.755.66 4.676.57
The Present Value of $900 promised in 3 years using a 6% interest rate is $755.66.
The present value (PV) of a future amount represents the current value of that amount, taking into account the time value of money and the interest rate. To calculate the present value, we use the formula:
PV = FV / (1 + r)^n
Where PV is the present value, FV is the future value, r is the interest rate, and n is the number of periods.
In this case, John promises $900 in 3 years, and the interest rate is 6%. Plugging in the values into the formula, we have:
PV = $900 / (1 + 0.06)^3
PV = $900 / (1.06)^3
Calculating this, we find:
PV = $900 / 1.191016
PV ≈ $755.66
Therefore, the present value of $900 promised in 3 years using a 6% interest rate is approximately $755.66.
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he table, :, shows the dividend per share paid in 2007 and 2017 for three companies. For each company, estimate the compund annual dividend growth rate over this decade. The compound annual growth rate of dividend stream for Procter & Gamble is %. (Enter as a percentage and round to two decimal places.) i Data Table Dividend Stream Year Procter & Intel Walmart Gamble $0.33 $0.86 2017 $2.03 $0.75 $1.90 (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.)
The table shows the dividend per share paid in 2007 and 2017 for three companies. For each company, estimate the compound annual dividend growth rate over this decade.
Year Procter & Gamble Intel Walmart Dividend Stream
[tex]2007 $1.36 $0.40 $0.88 2017 $2.79 $1.26 $2.08[/tex]
Compound annual dividend growth rate over the decade: Procter & Gamble - 4.68%Compound annual dividend growth rate (CAGR) is the rate at which an investment's value grows annually when compounding occurs more than once in a year.
The dividend in 2007 is $1.36 per share, and in 2017 it is
2.79 per share.
Therefore,
FV = 2.79
and
PV = 1.36.
The number of years is 10. Hence,
[tex]n = 10.CAGR = [(FV / PV) ^ (1/n)] - 1 = [(2.79 / 1.36) ^ (1/10)] - 1 = 4.68%.[/tex]
Therefore, the compound annual growth rate of the dividend stream for Procter & Gamble is 4.68%.
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2. Assume X ~ N(2,5).
(a) Find the expectation of (X-1)/2.
(b) Find the standard deviation of 2(X+4).
(c) Find P(X 2 or X < 0].
(d) Let Y~ N(-1,3). Find the expectation of X + 2Y.
(a) Expectation of the random variable, X ~ N(2,5) is calculated as follows:E(X) = μ = 2. The expectation of the random variable, (X-1)/2, is given as;
[tex]E [(X-1)/2] = (E(X)-1)/2= (μ -1)/2= (2 - 1)/2= 0.5[/tex]
(b) The standard deviation of the random variable, 2(X+4), is calculated as follows:
Let Y = X+4.Then [tex]E(Y) = E(X+4) = E(X) + E(4) = 2 + 4 = 6.[/tex]
Now,
[tex]Var(Y) = Var(X+4) = Var(X) + Var(4) = 5 + 0 = 5[/tex]
Therefore, the standard deviation of Y is the square root of Var(Y), i.e., √5.Standard deviation of
2(Y) = 2 × √5 = 2√5(c)
To find P(X < 2 or X < 0), we can find the sum of probabilities of two events:
[tex]P(X < 2 or X < 0) = P(X < 2) + P(X < 0) - P(X < 0 and X < 2)[/tex]
Now,[tex]P(X < 2) = Φ[(2-2)/√5] = Φ(0) = 0.5P(X < 0) = Φ[(0-2)/√5] = Φ(-0.8944) = 0.1859P(X < 0 and X < 2) = P(X < 0) = 0.1859[/tex]
Therefore,
P(X < 2 or X < 0) = 0.5 + 0.1859 - 0.1859 = 0.5
(d) Expectation of X+2Y is given as:
[tex]E[X+2Y] = E[X] + 2E[Y][/tex] Here, E[X] = μ = 2 and E[Y] = -1
Therefore,
[tex]E[X+2Y] = E[X] + 2E[Y]= 2 + 2(-1) = 0[/tex]
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