The level of production in the table which has the lowest average variable cost is option a) 1 unit.
Any increase in output results in economic expansion as indicated by the GDP. Simply put, this indicator shows how much is produced overall across the entire economy. The standard of life is raised by stronger economic growth since it drives down prices and boosts wages. When the marginal revenue (MR) equals the marginal cost, production is at its best level (MC).
The cost of variable per unit in economics is the average variable cost. One can determine the average variable cost by dividing the whole variable cost by the output. The corporations use the average variable cost to decide when to stop short-term manufacturing.
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Question 20 (5 points) Table 14-10 Suppose that a firm in a competitive market faces the following revenues and costs:
Quantity Total Revenue Total Cost
0 $0 $3
1 $7 $5
2 $14 $9
3 $21 $15
4 $28 $23
5 $35 $33
6 $42 $45
7 $49 $59
Refer to Table 14-10. Which level of production in the table has the lowest average variable cost? Question 20 options:
a) 1 unit
b) 2 units
c) 3 units
d) 4 units
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Which of the following statements is correct, in the case of excess demand?
A.Market supply will be less than market demand
B.Equilibrium price and equilibrium quantity will increase.
C.Both (a) and (b).
D.Neither (a) nor (b).
Neither (a) nor (b) statement is correct, in the case of excess demand. (Option D)
What happens in case of excess demand?In the case of excess demand, market demand will be greater than market supply. This means that the quantity of goods or services that consumers wish to purchase exceeds the quantity that suppliers are willing or able to sell.
As a result of this excess demand, the price of the good or service will increase, as suppliers are able to charge a higher price due to the limited availability of the good or service. So, equilibrium price will increase and equilibrium quantity will decrease.
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How do you multiply sales?
When you make your first sale, follow-up with the customer. You could follow-up with a “thank you” email and include an advertisement for other products you sell. You could follow-up every few months.
You could flogging to your customers. When they are at your order page, tell them about a few extra related products you have for sale. They could just add it to their original order.
Tell your customers if they refer four customers to your web site, they will receive a full rebate of their purchase price. This will turn one sale into three sales.
When you sell your products, give your customers the option of joining a lodge program so they can make commissions selling your product. This will multiply the sale you just made.
When you sell a product, give your customers the option of joining an agency program so they can make commissions selling your product. This will multiply the sale you just made.
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What are the 5 conflict resolution steps?
Steps to resolve conflicts: step 1: Define the cause of the conflict. Step 2: Look beyond the incident. Step 3: Demand a solution. Step 4: Identify solutions that both parties to the dispute can support. Step 5: Agreement.
What does conflict resolution mean?Conflict resolution is a method by which two or more parties resolve their disagreements peacefully. Disagreements can be personal, financial, political, or emotional.
Examples of conflict resolution skills: A supervisor's assertion to call a meeting between two of his employees embroiled in a public dispute. HR professionals use interviews and active listening to define the nature of conflicts between managers and subordinates.
What are the methods of conflict resolution?According to the Thomas-Kilmann Conflict Mode Instrument (TKI), used by HR practitioners worldwide, there are primarily five styles of conflict management: Collaborative, Competitive, Avoidant, Adaptive and Compromising.
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An upward-sloping supply curve shows that O there is an inverse relationship between price and quantity supplied.O sellers are willing to sell less when the prices are higher in the market. O there is no relationship between price and quantity supplied. O there is a positive relationship between price and quantity supplied.
An upward-sloping supply curve shows that: there is a positive relationship between price and quantity supplied.
Supply curve is a graphical representation that shows the correlation between the prices of some goods or services and the quantity of it supplied within a given period of time. The graph shows that there is a direct relation between the two.
Price can be defined as the value or simply the money associated with a piece of some good or the service on takes. The price for any product is fixed after a complex set of calculations that includes market value, input cost, target customers ability to afford, etc.
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Who defines done in scrum?
The Scrum Team owns the Definition of Done, and it is shared between the Development Team and the Product Owner.
Only the Development Team are in a position to define it, due to the fact it asserts the satisfactory of the work that *they* have to perform.
Who creates definition of accomplished scrum?Development Team of the Scrum Team need to outline a definition of “Done” terrific for the. product. If there are more than one Scrum Teams working on the machine or product release, the. Development Teams on all the Scrum Teams should jointly outline the definition of “Done.”" So it is "The Development Team".
In unique terms, the Scrum definition of performed is a listing of conditions that should be met to successfully mark a product increment as complete.
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https://brainly.com/question/28932081#SPJ4a(n) ______________ distribution strategy uses only one retail outlet in a given geographic area.
Answer:
Exclusive
Explanation:
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Which of the following would most likely be detected by an auditor's review of the client's sales cutoff? A.Excessive goods returned for credit.B.Unrecorded sales discounts.C.Lapping of year-end accounts receivable.D.Inflated sales for the year.
An auditor's analysis of the customers sales cutoff would most certainly reveal inflated annual sales.
A customer is somebody who buys goods, services, products, or ideas from a seller, vendor, or supplier in exchange for cash or another beneficial compensation. This expression covers commerce, economics, and sales. The Latin word "clients," which means "to incline" or "to bend," is where the name "client" originates. The emotive idea of terminating things is included. It's widely acknowledged that people only frequently modify their behavior when they're motivated by fear or greed. Professionals who deal with particular concerns are more likely to attract long-term clients than transient ones since getting a client is a one-time event. Contrary to frequent customers, long-term customers base their purchases on considerations besides cost and value.
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Marcus sells 300 candy bars at $0.50 each. His total costs are $125. His profits are O a. $25. O b. $150 O c $124.50. O d. $125.
Marcus' total profits from selling 300 bars at $0.50 each are $150. This is calculated by subtracting his total costs of $125 from his total revenue of $225 (300 candy bars at $0.50 each).
To determine its total cost, we need to look at the cost of the bars themselves plus any other related costs that may have been incurred in the process of buying and selling the bar. This may include the cost of renting space to sell candy bars, paying employees to help with sales, or any other related costs. The total cost of $125 indicates that Marcus made a profit of $150 on the sale of the candy bars.
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6. Microeconomics and macroeconomics Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics 1. The effect of federal government spending on the national unemployment rate 2. The optimal interest rate for the Federal Reserve to target 3. A firm's decision about the size of its new factory
The topic that is more likely to be studied in microeconomics is a firm's decisions about the size of its new factory (3). Meanwhile, the topics that are more likely to be studied in macroeconomics are the effect of federal government spending on the national unemployment rate (1) and the optimal interest rate for the Federal Reserve to target (2).
What Are The Differences Between Macroeconomics And Microeconomics?Microeconomics and macroeconomics are fields of study in economics. In simple terms, the division of these two fields is distinguished by the scope of each. Microeconomics examines the economic problems that exist in companies, groups, or individuals. Meanwhile, macroeconomics examines the economic problems that exist in a country.
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What recommendations you can make to increase profit and lower expenses?
There are four derived areas that can help to drive profitability.
The beverage is then bought for $2. She made $1.75 from the sale of the cup of lemonade.A person who contributes to a partnership is given an equity right known as a profits interest depending on the partnership's potential future value.Among them, they are raising productivity, increasing turnover, and reducing costs that lead to and enhance effectiveness.Profit can be used to determine what exactly occurs and happens when the revenue from a commercial activity exceeds the expenses, taxes, and other costs incurred to keep the operation in question running.There are three key profit indicators available. The terms gross profit, operational profit, and net profit.A business is said to be profitable when revenue outpaces costs and expenses. Examples of lemonade is the best example.To know more about profits here
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Consider each of these forms of investment. Identify whether it is investment spending, an investment in physical assets, or a financial investment. a. You purchase a 1965 Ford Mustang. b. The Ford Motor Company builds a new plant in Tennessee.
Answer:
b. The Ford Motor Company builds a new plant in Tennessee.
Explanation:
The percentage change in the price level from one time period to the next, whether the price level is measured in terms of money or as a price index, will be the _____________.a. inflation rateb. price index ratec. consumer price indexd. producer price Index
The percentage change in the price level from one time period to the next, whether the price level is measured in terms of money or as a price index, will be the inflation rate.
A collection of products and services are measured for inflation over a given time period, often a year, to determine how much more costly they have become. Inflation, regardless of the context, is the increase in price of the relevant set of products and/or services over a specific time period, most frequently a year.
The pace of price growth over an extended period of time is known as inflation. The cost of living in a nation has increased, or prices have generally increased. These are illustrations of broad indicators of inflation. However, it may also be computed more precisely for some products, like food, or for some services, like a haircut, for instance.
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____ and ____ are often paid as part of one's house payment and held in an escrow account.
a. Insurance; utilities b. Closing costs; interest. c. Utilities; real estate taxes d. Principal; interest e. Insurance; real estate taxes
Insurance and real estate taxes are often paid as a part of one's house payment and held in an escrow account. Escrow accounts are commonly used to manage payments related to the purchase of a home.
Insurance is usually paid in monthly installments and may include home insurance, flood insurance or other types of insurance. Property tax is also usually paid in monthly installments and the amount payable is determined by the local government. Escrow accounts are also used to cover closing costs and interest, which are usually paid in one lump sum at the time of closing. In the event of default, the creditor can use the funds in the escrow account to cover any overdue payments.
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One cost of starting your own business is
A. Loan payments on a small business loan
B. Escrow
C. Revenue
D. PMI
Answer:
A. Loan payments on a small business loan
Explanation:
One cost of starting your own business is loan payments on a small business loan.
An illustration of a decrease in the supply schedule is shown below with a change from S2 back to S1.
Price Quantity Supply 1 Quantity Supply 2
$10 8 10
9 7 9
8 6 8
7 5 7
This shift could be caused by
As per the given supply details the shift could be caused by an increase technology.
The term supply in economics is defined as the quantity of goods a supplier offers to consumers.
Here we have given that the illustration of a decrease in the supply schedule is shown below with a change from S2 back to S1.
Here we looking into each column of the table of data, we have identified that the price will gradully decreasing from $10 to $7.
But when we looking into the quantity supply for 1 and 2, we have identified that the supply will be increasing slowly.
Like the first row has the value of total as 18 that cost $10.
But in the last row the supply quantity is 12 but the supply cost is $7.
Thus make this one as increase technology.
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Why did businesses enter the marketing economy? (The last Chegg expert to answer this question gave me 2 answers. There is only one answer)
Multiple Choice
O Businesses became more concerned with the needs of the consumer.
O People were self-sufficient and produced everything they needed at home.
O Ford’s assembly line could manufacture many automobiles efficiently.
O Manufacturing was too laborsome.
O The country abandoned the free-enterprise system.
Businesses enter the marketing economy because Businesses became more concerned with the needs of the consumer. Thus, option first is correct.
What is marketing economy?A market economy is an economic system wherein choices about investment, production, and distribution to consumers are governed by price signals generated by supply and demand factors.
A client is an individual or business who purchases goods or services from another entity. Customers are crucial because they provide income; businesses cannot function without them.
Businesses entered the marketing economy when they grew increasingly concerned with the requirements of their customers. As a result, option one is correct.
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11 . The common characteristic possessed by all assets is a ) Long life b ) Great monetary value c) Tangible nature d) Future economic benefit
d) Future economic benefit is the common characteristic possessed by all assets. An asset is defined as something that a company owns or controls that has economic value and can be used to produce future economic benefits.
This means that all assets should be able to generate income, appreciate in value, or be used to produce other goods and services. The future economic benefit can be in the form of cash flow, capital appreciation, or the ability to generate future cash flows. While long life, great monetary value and tangible nature are characteristics that some assets may possess, they are not essential for an asset to be considered as an asset. For example, an intangible asset such as a patent or trademark may have a limited life but still generates future economic benefits.
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a group of similar products marketed to one general market is called a product ________.
A product line is a group of related products all marketed under a single brand name that is sold by the same company.
What is meant by general market?
Usually, in a product line, a company adds similar products that can be used with each other or are closely related to each other. They are branded under the same name so that the name a company has built can be used to sell other products of the same company.A product is any item or service you sell to serve a customer's need or want. They can be physical or virtual. Physical products include durable goods (like cars, furniture, and computers) and nondurable goods (like food and beverages).A product family is a group of related goods produced by the same company under the same brand. A company may create a product family to leverage the loyalty of existing customers toward its original brand.To learn more about general market refers to:
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All the following are components of accounting information system except: O A. The internal control and security measures. O B. The information technology infrastructure. O C. The people who are using the system. O D. The procedures and instructionsposed to operate the system.
The correct answer is option d. The procedures and instructions used to operate the system are not the component of accounting information system.
An accounting information system (AIS) refers to a structure which a business uses in order to collect, store, manage, process, retrieve, and report its financial data. It is used by the accountants, the consultants, the business analysts, the managers, the chief financial officers (CFOs), the auditors, the regulators, and the tax agencies.
These are the computer-based methods which are used for tracking accounting activity that use information technology resources.
An accounting information system has three types. These are – Manual, Legacy and Modern/Integrated systems.
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What are the basis of data classification?
The classification of statistical data is often performed on four bases: geographic location, chronology, qualitative features, and quantitative characteristics. This is done after taking into account the extent, type, and objective of a study.
Which four categories of data are there?Data classifications are used to classify data categories with similar levels of risk sensitivity. The institution uses four different types of data classifications: Restricted, Controlled, Controlled Unclassified Information, and Public.
The six fundamental forms of data are:The data kinds to be aware of are:
String (or str or text) (or str or text). A combination of any keyboard-based characters, including letters, numbers, and symbols, is used.
Character (or char) (or char). For use with single letters.
Integer (or int) (or int). For use with entire numbers.
Boolean, Float, or Real
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What are the 4 types of external factors?
Political, economic, technological, environmental, and competitive aspects make up the four external factors.
Describe the outside factors?A company's success will be impacted by external factors, or those that are not related to the firm. They might have a positive or negative impact. An organization cannot influence external factors. It only has one option: to react to them and make decisions that will help it continue to flourish.
Examples of external variables include politics, the economy, society, culture, technology, the environment, and the law. Organizational structure, management techniques, human resources, technological and physical resources are examples of internal factors.
Through external analysis, the industrial environment of a company is analyzed. This environment comprises components like the competitive structure, competitive position, dynamics, and history. Macroeconomic, international, political, social, demographic, and technological research are all included in large-scale external analysis.
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a business process is a network of ________ that receive inputs and produce outputs.
a business process is a network of activities that receive inputs and produce outputs. A business process is a group of interconnected actions that culminate.
in the supply of a service or something to a customer. Another definition of a business process is a series of actions and activities that, when finished, will achieve an organizational objective. A business process, business technique, or business function is a set of connected, organized actions or tasks performed by humans or machinery in a certain order to generate a service or a product for a specified client or consumers.A business process is an activity or set of activities that accomplish a specific organizational goal.
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.
What are the 3 main goals of data visualization?
There are three main goals of data visualization: to communicate a message, to simplify data, and to reveal patterns.
The graphical representation of information and data is known as data visualization. Data visualization tools, which use visual elements such as charts, graphs, and maps, make it easy to see and understand trends, outliers, and patterns in data.
Data visualization is an effective way to communicate a message because it can help people understand complex data. The visual representation of data can also help people see patterns and trends that may not be apparent in the data itself. simplifying data can help people understand it more easily and reveal patterns that may be hidden in the data.
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the payroll department of a manufacturing company is most likely to be a(n) ________.
Under perpetual inventory system, freight costs on merchandise purchases, FOB shipping point is debited to Freight out as operating expense by buyer.
Select one:
O True O False
The statement is false.
Both returns and allowances reduce the buyer's debt to the dealer( accounts outstanding) and drop the cost of the goods bought( force). We'll disbenefit Accounts Payable and credit wares force.
Recording of purchase of force under a perpetual force system. When the business realities use the perpetual force system, the wares force account is debited or credited at the time of purchase or trade of force.
It's false that in a perpetual force system, when wares are bought, it's debited to an account called purchases. The purchase journal is used in the periodic force system to help determine the value of ending force and the cost of goods vended.
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What are 4 reasons to open an account?
Create a financial profile You must always show evidence of your sound financial standing when applying for credit or any other type of loan. Safeguarding Your Money. using the internet to grow your investment is convenient.
What is Money?Any tangible object or unquestionable document that is regularly taken as payment for products or services as well as reimbursements, such royalties, in a certain nation or socioeconomic context is referred to as money.
What is a money order?With a money order, the designated payee can frequently get cash on demand. Only a government-owned business banking institution normally issues it. When it comes to the ability to stop payment, money orders function similarly to checks.
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What are the disadvantages of balloon mortgages?
It's more pricey. Even while your monthly payments might be lower, you'll still have to pay more overall because of the higher interest rates. the drawbacks of balloon mortgages.
The final payment will likely be very enormous, as indicated by the phrase "balloon." Balloon payments often cost at least twice as much as the prior installments on the loan. Balloon payments are more frequent in commercial lending than in consumer lending since the ordinary homeowner often cannot afford a very big balloon payment at the end of the mortgage.
As the balloon payment approaches, the majority of homeowners and borrowers want to either refinance their mortgage or sell their home before the loan's maturity date. Businesses frequently use balloon loans to take advantage of lower initial payments to satisfy their short-term financial needs before making the balloon payment. During the loan term, this sort of loan specifically designs earlier payments to be smaller and later payments—often simply the last payment—to be bigger.
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It's more expensive. Even while your monthly payments might be smaller, you'll still have to pay more overall due to the higher interest rates. the negative aspects of balloon mortgages.
What is a balloon payment disadvantage?The majority of homeowners and borrowers prefer to refinance their mortgage or sell their house before the loan's maturity date as the balloon payment draws near. Businesses typically employ balloon loans to take advantage of cheaper first payments to cover their immediate financial needs before completing the balloon payment. This type of loan purposefully plans later payments—often just the last payment—to be larger than earlier payments throughout the loan term.
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What do you multiply by to get sales tax?
Multiply the price of the item with the decimal tax number to get the tax amount. Add the sales tax number to the price of the goods for the final price.
Sales tax = List price x Sales tax rate
It is a particular kind of tax that is levied when a good or service is sold. The buyer pays you the tax, which you then send to the appropriate government tax collection agency. Each agency collects taxes, which are subsequently distributed to various state, county, and local departments to support their continuous operations. To calculate the amount of sales tax you collect, first, convert the sales tax percentage to a decimal figure, and then multiply the cost of the item by the decimal value.
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In the creative process, the _____ purpose is to produce good ideas, not to revel in criticism. a. Evaluator's b. Mediator's c. Explorer's d. Judge's
The Evaluator's goal in the creative process is to generate good ideas, not to take pleasure in criticism.
Setting goals for yourself might aid in maintaining motivation. In addition to helping you organize your life and keep yourself accountable, setting goals can motivate you to strive for things you may not have previously thought possible. The five components of precise, measurable, achievable, pertinent, and time-based goals are referred to by the acronym SMART. These elements are essential to setting a common life objective, such as mine, which is to enter a prestigious school, attend a renowned institution, and obtain a respected career. A goal is a future vision or desired result that a person or group of people commits to thinking about, planning for, and accomplishing.
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The total cost of a compact disc, including a 6% sales tax, is $14.31. What is the price before the tax
The total cost of a compact disc, including a 6% sales tax, is $14.31. The price before the tax is $13.50.
Let the sales tax before tax be X, then-
X + 0.06X = 14.31
1.06X =14.31
X = 13.5
What is sales tax?
A sales tax is a fee that is paid to the government when specified goods and services are sold. Typically, laws permit the vendor to charge the customer the tax at the time of purchase. Use taxes are typically used to describe taxes on goods and services that consumers pay directly to a governing authority. State and municipal budget items like schools, roads, and fire departments are funded by sales tax. Since many local governments rely on sales tax to maintain their budgets, they take the collection of all unpaid sales tax very seriously.
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The correct answer is $13.50 is the price before the tax total cost of a compact disc, including a 6% sales tax, is $14.31.
A taxation authority, often a government, levying or imposing a financial obligation on its inhabitants or residents is known as taxing them. Since ancient times, paying taxes to governments or authorities has been a fundamental aspect of civilisation. You may determine the total income on which you must pay tax based on your tax slab by deducting all allowable deductions from your gross taxable income. Senior persons pay a separate slab rate. The tax rate is zero for anyone over 60 with a net income of up to Rs 3 lakh.
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