The marginal cost for natural monopolies is always less than the average cost.
A cost is the amount of money that was spent on producing an item or providing a service but is no longer available for use in production, research, retail, or accounting. The total cost of the transaction is considered while determining the acquisition cost. The majority of fixed expenses are expenditures that depend more on timing than they do on production or sales. Some examples of fixed costs include rent and leasing fees, salaries, energy bills, insurance premiums, and loan repayments. Taxes that are related to business license, for example, are fixed expenses as well. Cost is the amount of money spent by a business to produce or manufacture goods or services.
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If a maintenance personnel employee made a request for a pay raise to his foreman, he would be making a
If a maintenance personnel employee made a request for a pay raise to his foreman, he would be making a formal upward message.
What is formal upward message?
Employees can directly communicate with upper management to offer feedback, share ideas, and voice concerns about their day-to-day tasks. This process is known as upward communication. The flow of performance reviews, complaints, and other information from lower to higher levels is known as upward communication. Coordinative in nature, horizontal communication takes place between divisions or departments that are on the same level.
What are formal communications?
A formal communication is one that adheres to a predetermined format and is written in a formal, ceremonial tone. Such letters are not addressed to private individuals, such as friends or family members, but rather to authorities, dignitaries, co-workers, and seniors for official objectives.
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Option C is correct. If a maintenance personnel employee made a request for a pay raise to his foreman, he would be making a formal upward message
Representatives can straightforwardly speak with upper administration to offer input, share thoughts, and voice worries about their everyday undertakings. This interaction is known as upward communication. The progression of execution surveys, protests, and other data from lower to more significant levels is known as up correspondence. Coordinative in nature, even correspondence happens between divisions or offices that are on a similar level.
A formal communication is one that sticks to a foreordained organization and is written in a formal, stylized tone. Such letters are not addressed to private people, like companions or relatives, yet rather to specialists, dignitaries, associates, and seniors for true goals.
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With a probabilistic model, increasing the service level
A. will decrease the level of safety stock
B. will increase the cost of the inventory policy.
C. will reduce the cost of the inventory policy.
D. will have no impact on the cost of the inventory policy.
The correct response is B. will increase the cost of the inventory policy. A probabilistic model predicts that raising the service level will result in higher inventory policy costs.
The optimum manner for a product to go through a supply chain is determined by inventory policies. They are a collection of guidelines that specify the quantity and timing of when a product should be purchased or manufactured. Maintaining the stock such that it is neither overstocked nor understocked is the primary goal of an inventory management system. Understock will result in a cessation of operations while an overstock situation will slow down other manufacturing processes. Operational and financial goals underlie inventory management. The best sorts of inventory methods required for effective inventory control may be determined by taking into account a few crucial factors, including the type of product handled, product cost, and distribution lead time.
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How do you make a SCIF?
A SCIF (Sensitive Compartmented Information Facility) is a secure area designed to store and protect sensitive classified information. The design of the SCIF requires specific measures to ensure the integrity of the information stored within.
Walls, ceilings and floors must be made of solid materials that are soundproof, such as concrete and steel. Penetrations in walls, ceilings and floors should be sealed with acoustic sealant and doors should be made of solid steel and have a locking system to prevent access by unauthorized persons. In addition, the SCIF must be equipped with a alarm system, motion sensors and video surveillance. Once constructed, the SCIF must be certified by a security specialist to ensure that it meets the necessary criteria to protect sensitive information.
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There are six important steps to make SCIF, it involves government sponsorship, right document submission, facility design, approval, construction, and Government Accreditation.
A government accrediting authority conducts the inspection to ensure that all of the SCIF's essential high-security components have been installed in accordance with the preapprovals stated in the design and pre-construction papers. The AO will also confirm that the SCIF construction procedure adhered to the CSP in a proper manner and that all necessary documentation was created. It's not a good idea to fumble around trying to design and construct a SCIF on your own for a number of solid reasons. Over the course of our decades of experience, Adamo has developed and constructed hundreds of facilities with high-security components.
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When schedule conflicts, he asks Dionne to perform his duties at the closing. This transfer of duties is
When schedule conflicts, he asks Dionne to perform his duties at the closing. This transfer of duties is a delegation.
What is delegation?Delegation is the act of giving someone else the right and responsibility to carry out particular tasks (typically from a manager to a subordinate). One of the fundamental ideas of management leadership, delegation is the process of giving work to someone else.
Managers must decide which tasks to complete themselves and which ones to assign to others as part of the process. From a managerial perspective, delegation entails giving team members more control over projects, enabling them to finish the work product efficiently and with little assistance.
Micromanagement, in which a manager gives too much input, direction, and oversight of work that has been delegated, is the antithesis of effective delegation. A decision-maker is given more authority through delegation.
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What was the purpose of the collectivization?
The purpose of the collectivization is order to boost agricultural output in the Soviet Union,
What is Soviet Union?Between 1922 and 1991, the Soviet Union—officially known as the Union of Soviet Socialist Republics—spanned most of Eurasia. a substantial federation of Communist republics (i.e., states without a king or queen), which existed in Europe and Asia between 1922 and 1991, and included Russia, Belarus, Ukraine, Georgia, and 11 additional states: One of the most centrally planned societies in the world was the Soviet Union. Therefore, the primary distinction between Russia and the Soviet Union is that the former is a country, whilst the latter was a political entity in which Russia was one of the republic's states. A single-party Marxist-Leninist state, the Soviet Union (also known as the USSR) was named after the Union of Soviet Socialist Republics.To learn more about Soviet Union refer to:
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If an asset price declines, the investor with a _______ is exposed to the largest potential loss.
a. long call option
b. short futures contract
c. long futures contract
d. long put option
Option D is correct. If an asset price declines, the investor with a long put option is exposed to the largest potential loss.
A long put alludes to purchasing a put choice, commonly fully expecting a decrease in the hidden resource. The expression "long" Doesn't here have anything to do with the period of time before lapse yet rather alludes to the broker's activity of having purchased the choice with the desire for selling it at a greater cost at a later moment.
A merchant could purchase a put for speculative reasons, wagering that the hidden resource will fall which builds the worth of the long put choice. A long put could likewise be utilized to fence a long situation in the basic resource. Assuming the hidden resource falls, the put choice expansions in esteem assisting with balancing the misfortune in the basic.
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Josh has been asked to be a part of a new business venture that develops wind energy technologies. Since the business involves high risk, he does not want to be held completely liable for the firm's debts if the project fails. In this case, Josh is most likely to prefer to participate as a(n):
Josh has received an invitation to join a brand-new partnership that is creating wind energy solutions. Josh might favor taking part as a Limited partner in this situation.
What does "partnership" represent in accounting terms?A formal partnership is an arrangement between two or more people to run a business together and split profits. Partnership agreements can take many different forms. In a partnership business, for instance, all partners equally split obligations and profits, although in other businesses, partners may have limited accountability. The "silent partner" is another option; this person is not involved in the day-to-day activities of the company. A partnership is an arrangement between two or more individuals for the management of a business and the sharing of assets and obligations. Profits and obligations are shared by all partners in a general partnership corporation. Lawyers and other professionals routinely create limited liability partnerships. Compared to a corporation, a partnership may offer tax benefits.
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Xavier is single and his AGI is $73,200. He incurred the following unreimbursed medical expenses: $4,900 Hospital and ambulance $550 Prescriptions $2,500 Doctor and dentist co-pays $300 Prescription eyeglasses What amount of medical expenses can Xavier deduct on his Schedule A
When compared to other vendors, Walmart has some of the most affordable frame and lens costs.
Which four sorts of retailers are there?Department stores, grocers, specialty stores, and internet retailers make up the four main categories of retailer formats. Department stores are substantial shops that provide a broad selection of goods. Typically, department shops contain many departments, each of which sells a distinct category of goods.
Who are a company's retailers?A retailer is just a person or establishment where you buy products. Typically, retailers don't produce their own goods. They buy products from a producer or a reseller and then sell them in tiny amounts to customers.
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The ________ budget starts with the number of units to be produced.
A) production
B) operating expense
C) direct labor
D) All of these choices start with the number of units to be produced.
The production budget starts with the number of units to be produced.
The production budget is based on the pre-decision about the number of units of a good or service that needs to be manufactured. This budget is formed by the forecasting of the sales that will be made after the products are manufactured.
Budget is defined as the well thought plan about the amount of money that will spent upon the manufacture of a specific set of goods within a fixed period of time as well. The budget is planned according to the incomes as well as the expenditure.
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A decrease in the price of a good will lead to:
A. a rightward movement along the supply curve for that good.
B. a leftward movement along the supply curve for that good.
C. a right shift of the supply curve for that good.
D. a left shift of the supply curve for that good.
A decrease in the price of a good will lead to a leftward movement along the supply curve for that good. A supply curve slopes upward, so a decrease in the price of goods reduces the supply of goods.
At the point when the cost changes, there is a development in the curve. If the cost falls, the amount requested increases. This is the Law of Interest.
Assuming the demand curve moves to one side, that is an expansion sought after. On the off chance that the demand curve moves to the left, that is a demand reduction. A drop in business charges lessens creation costs per unit. Lower creation costs will increment total stock in the economy.
Hence option (B) s correct.
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M1 is comprised of currency held outside banks + traveler's checks +
a. credit card
b. saving deposits
c. gold
d. transaction account (checking and debit account) deposits e. money market mutual funds
M1 is comprised of currency held outside banks + traveler's checks transaction account (checking and debit account) deposits .
Option D is correct .
M1 is made up of two components: (1) money that is not held by the U.S. Treasury, Federal Reserve Banks, or in depository institutions' vaults; and (2) demand deposits at commercial banks that are not held by depository institutions, the U.S. government, or foreign banks or official institutions.
Physical currency and coins, demand deposits, traveler's checks, other goods that may be deposited and checked, and accounts with negotiable order of withdrawal make up the M1 money supply (NOW). The M1 money supply includes highly liquid forms of money like cash, demand deposits that can be checked, and traveler's checks.
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Today's progressive managers:
O a can rely on a much higher level of worker loyalty to the organization than in the past
O b. face fewer challenges and problems than managers in the past.
O c. prefer to use the autocratic style of leadership.
O d emphasize teamwork and cooperation rather than discipline and order giving.
Today's progressive managers emphasize teamwork and cooperation rather than discipline and order giving.
Company managers drive the work of others to work efficiently and generate profits. A working knowledge of the following areas is required and may be a specialist in one or more of: Finance, Marketing and Public Relations.
Other technical areas where business leaders have expertise are law, science, and computer programming. Many companies can set up roles to relieve owners of the responsibility of focusing on specific aspects of business growth. Directors and owners typically work together to successfully run a business.
Hence the correct answer is D
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a(n) ____ sells fund shares, either directly to the public or through certain authorized dealers
A(n) distributor sells fund shares, either directly to the public or through certain authorized dealers
A distributor is a financial intermediary that sells fund shares, which are units of ownership in a mutual fund or exchange-traded fund (ETF). Distributors may sell the shares directly to the public through their own sales channels, or they may work with authorized dealers, such as financial advisers or broker-dealers, to sell the shares to investors. Distributors play a key role in the mutual fund and ETF industry by connecting fund managers with investors and helping to raise capital for the funds.
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Which of the following characteristics best describes a corporation?
a. A business with a single owner
b. Is not taxed
c. Stockholders not personally liable for entity's debts
d. Not a separate taxable entity
Characteristics that best describe a corporation are Stockholders are not personally liable for the entity's debts.
What do you mean by a Taxable entity?A taxable entity denotes a person, family, corporation, or legal entity which earns or holds taxable assets subject to taxation.
A corporation is a legal entity that exists independently of its owners. Corporations have many of the same legal rights and responsibilities as individuals. They have the ability to enter into contracts, lend and borrow money, sue and be sued, hire employees, own assets, and pay taxes.
Therefore, Option (c) is correct.
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What tool is often used by project managers to define the tasks and the time needed for each piece of work?
Gantt Chart is often used by project managers to define the tasks and the time needed for each piece of work.
One of the best project management tools is the Gantt chart. A Gantt chart shows the dependencies between your numerous work items and the timetable for your project.
Gantt charts are useful for monitoring project progress, spotting changes from the original plan, and pinpointing delays. Gantt charts assist businesses remain on top of their projected schedule and budget. Gantt charts also assist in identifying the crucial tasks that will guarantee your project is finished on schedule if things don't go according to plan.
Gantt charts are a crucial planning tool in project management. It gives a thorough image of the job breakdown structure and helps with effective resource allocation, whether it be of time, money, or people.
It aids in prioritizing the most important tasks and curbs scope creep by mapping the dependencies among the various work items.
The Gantt charts in Zoho Projects are a simple, user-friendly planning and scheduling tool. An indispensable tool with a straightforward drag-and-drop interface, 4 types of dependencies, a critical route, a baseline, chart scaling, and job management features within the chart.
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Why is my Outlook email not working?
Verify your device's Internet connection. On your device, check for any browser updates. To make sure you have the most recent versions on your device, reinstall your web browsers.
Describe Outlook.The Microsoft Office and Microsoft 365 software suites both include Microsoft Outlook, a personal information manager software system. Outlook is essentially an email client, but it also has calendaring, task and contact management, note-taking, journaling, web browsing, and other features. has also grown to be a well-liked email client among many enterprises.
For shared tasks like mailboxes, calendars, folders, data aggregation, and appointment scheduling, enterprises can deploy Outlook as multi-user software (via Microsoft Exchange Server or SharePoint). Individuals can use Outlook as a stand-alone application. There are additional Outlook apps available for mobile devices.
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17. Food should be stored at least which distance from the floor?
O 2 in (5 cm)
O 4 in (10 cm)
O 5 in (13 cm)
O 6 in (15 cm)
Answer:
6 in (15 cm)
Explanation:
This prevents bacteria and other contaminants from being on the food. With this, you can keep food safe and out of other people’s way.
The process by which a company compares its performance with that of high-performing organizations is called:
O benchmarking.
O statistical process control.
O continuous improvement.
O JIT analysis.
O outsourcing.
The process by which a company compares its performance with that of high-performing organizations is called Benchmarking. Thus, option first is correct.
What is the goal of benchmarking?Benchmarking is a technique used to evaluate and compare performance in order to achieve continual improvement. It is part of a comprehensive quality management process that comprises the following important components: Processes are prioritized over outcomes. Encourages the exchange of knowledge.
Benchmarking is the practice of comparing the performance of a company's goods, services, or procedures to those of other businesses that are seen to be the best in the industry, sometimes known as "best in class." Benchmarking is used to find internal possibilities for improvement. Hence, option first is correct.
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How do external factors and internal factors affect or interact with each other?
External factors refer to the external environment that can affect an organization’s decisions, performance and strategies.
What are the effects or interactions between internal and external factors?External factors refer to the external environment that can affect an organization’s decisions, performance and strategies. These could include economic conditions, social trends, technological advances, government regulations, competitive environment, and natural disasters.Internal factors are those that are within an organization’s control, such as organizational structure, culture, management style, resources, and employee skills.External and internal factors interact with each other in a variety of ways. For example, external factors can influence an organization’s decision-making process, as well as the resources available for internal initiatives.For example, a company may have to adjust its internal operations in response to changes in the external environment. On the other hand, internal factors can also shape the external environment.https://brainly.com/question/20714228To learn more about external factors and internal factors refer to:
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When a negative externality exists, the private market produces Question 4 options: A) products at a high opportunity cost. B) more than the economically efficient output level. C) products at a low opportunity cost. D) less than the economically efficient output level.
When there is a negative externality, private market output exceeds the level required for economic efficiency.
When a negative externality exists the private market produces?A product's production or consumption incurs costs for a third party, which is known as a negative externality. Commonly used illustrations of negative externalities include noise and air pollution. Private markets will produce too much when there are negative externalities because it is more expensive to produce. When there are negative externalities, the producer is not responsible for all costs, which leads to excess production.
When a good has positive externalities, the buyer does not receive all of the advantages, which lowers production. When a good has a higher social cost than private cost, it is said to have a negative externality. When there are unfavorable externalities in a market, the equilibrium price will be lower than the productive output. The efficient output will be greater than the equilibrium output.
Therefore the correct answer is option B) more than the economically efficient output level.
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Which type of tax is paid to a local government?
Taxes on income, sales, or property are the three main tax revenue streams for state and municipal governments. Real estate taxes are the main income and sales taxes provide for the majority of state tax revenue.
What is the meant by tax?A tax is a necessary fee or monetary charge that a government imposes on a person or a business in order to raise money for public projects like building the greatest infrastructure and services. Different public spending initiatives are then funded with the funds that have been raised.
Why are taxes necessary?Federal, state, and municipal governments use tax income to pay for critical services like defense, roads, police, and the judicial system that all residents rely on but are unable to successfully supply for themselves.
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Jane, a partner in a CPA firm, borrows $100,000 on a secured note from one of the firm's bank audit clients to build a new dormer on her house. The amount of the loan is material to Jane. Jane will not provide any services to the bank and she is unable to influence the engagement. Jane practices in the same office as the lead partner on the bank's audit. Is Jane's independence impaired under the AICPA code?
a) Yes, because Jane borrowed the money from an audit client while she was a covered member.
b) Yes, because the loan is material to Jane's net worth.
c) No, because the note is secured and is related to Jane's primary residence.
d) No, because Jane is not on the attest team or able to influence the engagement.
The correct option is A. Yes, because Jane borrowed the money from an audit client while she was a covered member.
Here we can see that Jane is a partner in a CPA firm, she borrows $100,000 on a secured note from one of the firm's bank audit clients to build a new dormer on her house. The amount of the loan is material to jane. Jane will not provide any services to the bank and she is unable to influence the engagement. Jane practices in the same office as the lead partner on the bank's audit
Accounting is the process of recording financial transactions touching on a business. The accounting process consists of summarizing, reading, and reporting those transactions to oversight companies, regulators, and tax collection entities. The chart of bills organizes your finances into five fundamental account types, called bills: property, liabilities, equity, revenue, and fees.
A business needs a system to manipulate its money. Business accounts are used to music the cash balance, debts to the commercial enterprise, debts to creditors, and payroll paid to personnel. The range of debts a commercial enterprise needs will range, but business bills are widely widespread for all agencies.
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In preparing for a fair interview process as a hiring manager, you should: In preparing for a fair interview process as a hiring manager, you should: put water out for the candidates. ensure that you know the names of all candidates.
In preparing for a fair interview process as a hiring manager, you should: d. Prepare a schedule of questions to be asked of all candidates.
Interview questions to ask candidates Why do you want to work here?What do you know about our company?Why are you the best person for the job?What is your greatest strength? What Is your greatest weakness?What can you bring to the company?How did you hear about this position?What do you look for in a job?What should our company be doing better?Your question is incomplete, but most probably your full question was:
In preparing for a fair interview process as a hiring manager, you should:
a. Put water out for the candidates.
b. Ensure that you know the names of all candidates.
c. Dress comfortably and professionally.
d. Prepare a schedule of questions to be asked of all candidates.
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Is it possible for a country with a relatively large GDP to have a relatively small per-capita GDP?
Answer
A. Yes, since the country with a relatively large GDP could have a relatively large population.
B. No, since countries with a relatively large GDP (such as the United States and Japan) also have relatively high per-capita GDP.
C.Yes, but only under the condition that the country "produces" relatively more "bads" than other countries.
D.Yes, since government transfer payments may be exorbitantly high in the country with the relatively high GDP.
E.There is not enough information to answer this question
Option A. Yes, since the country with a relatively large GDP could have a relatively large population, it is possible for a country with a relatively large GDP to have a relatively small per-capita GDP.
Gross domestic product (GDP) is a financial indicator of the market valuation of all finished products that nations generate and sell over a given time period. This measurement is frequently changed prior to being trusted as an indicator because of how complicated and arbitrary it is.
If the GDP is declining, the country is contracting, which results in a small per-capita GDP and is bad news for firms and employees. A downturn is characterised by two consecutive quarters of declining GDP; this might result in salary cuts and mass unemployment.
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Rent-control laws dictate a minimum rent that landlords may charge tenants.
a. True
b. False
Vacancy control (“true rent control”): In this scenario, when a tenant moves out, the landlord can only raise the rent to the limit set by a rent control board
what is meant by rent control laws?
A, the patentee, allows B to use his patent on a royalty of Rs 2 per unit produced subject to minimum of Rs 10,000, then, in case the output is 4,000 units, the amount payable will be Rs 10,000 and in case the output is 7,000 units, it will be Rs 14,000. The minimum sum is known as minimum rent or dead rent.Rent control refers to an apartment whose rent has a limit on the amount that a landlord can charge. The limit is set by a government program, and rent control laws are put into place by local municipalities. Not all states or cities have them in place.9653, also known as the Rent Control Act of 2009. Important terms defined: R.A. 9653 defines rent as the amount paid for the use of a residential unit which is usually paid on a monthly basis unless otherwise specified in a contract.To learn more about rent control refers to:
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Angelo purchased some gifts for his younger brothers and sisters online. He bought a dollhouse for $32. 59, 2 board games for $12. 95 each and 2 movies for $9. 99 each. The web site had a promotional offer of $5 off and no shipping fees for any purchase totaling at least $50. Angelo was charged 7. 25% tax on his total purchase. How much did angelo pay for his online purchase? a. $78. 47 b. $78. 80 c. $79. 16 d. $84. 16 please select the best answer from the choices provided a b c d.
The price The Angelo paid for his internet transaction was $79.16. The selection (c) is the right response.
How much Angelo was charged?As given
Online, Angelo bought some presents for his younger siblings.
He spent $32.59 on a dollhouse, $12.95 on each of two board games, and $9.99 on each of two movies.
Cost of the doll home plus the prices of the board games and the movies equal the total amount spent.
= 32.59 + 2 × 12.95 + 2 × 9.99
= 32.59 + 25.9 + 19.98
= $78.47
For purchases totalling at least $50, the website offered free delivery and a promotional discount of $5.
Total purchase after applying the discount equals Total purchase - off price.
= $78.47 - $5
= $73.47
As given
7.25% of Angelo's total purchase was taxed.
7.25% is written in the decimal form.
= 0.0725
Tax price = 0.0725 × Total amount of purchase
= 0.0725 × 78.47
= $5.6891
Angelo paid the following for his online purchase: Tax price + Total cost after applying the discount.
= $5.6891 + $73.47
= $ 79.16 (Approx)
Angelo spent $79,16 on his internet buy as a result.
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A steel tariff increases the price of steel. What effect will this have on the supply of cars?
A. Increase in supply (supply curve shifts right).
B. Decrease in supply (supply curve shifts left).
C. Movement along the supply curve, but the supply curve does not shift.
D. No effect on supply.
Reset Selection
Question 2 of 5
1 Points
Improvements in robotics enable car manufacturers to produce more cars using fewer resources. What effect will this have on the supply of cars?
A. Increase in supply (supply curve shifts right).
B. Decrease in supply (supply curve shifts left).
C. Movement along the supply curve, but the supply curve does not shift.
D. No effect on supply.
Question 3 of 5
1 Points
Consumer concern about the negative effects of automobile emissions on the environment reduces demand for cars, causing the price of cars to fall. What effect will this have on the supply of cars?
A. Increase in supply (supply curve shifts right).
B. Decrease in supply (supply curve shifts left).
C. Movement along the supply curve, but the supply curve does not shift.
D. No effect on supply.
Question 4 of 5
1 Points
The graph in the figure below shows the weekly market for pizza in a small town. Which of the following events will occur at a price of $10?
A. No pizza supplied
B. Excess supply
C. Equilibrium
D. No pizza demanded
E. Excess demand
Question 5 of 5
1 Points
Suppose an economic boom causes incomes to increase. This will cause:
A. An increase in supply of smart phones (supply curve shifts right); the equilibrium price of smart phones will fall and the equilibrium quantity of smart phones traded will rise.
B. A decrease in supply of smart phones (supply curve shifts left); the equilibrium price of smart phones will rise and the equilibrium quantity of smart phones traded will fall.
C. Increase in demand for smart phones (demand curve shifts right); both the equilibrium price of smart phones and the equilibrium quantity of smart phones traded will rise.
D. Decrease in demand for smart phones (demand curve shifts left); both the equilibrium price of smart phones and the equilibrium quantity of smart phones traded will fall.
A steel tariff increases the price of steel. Then the supply of the cars will decrease. Hence, the correct answer is option B.
Supply refers to a fundamental economic concept which describes the total amount of a specific good or service which is available to consumers for their use. Supply can be related to the amount available at a specific price.
A tariff, on the other hand, refers to a tax imposed by the government on the goods and services imported from other countries. It serves as to increase the price and make imports of goods and services less desirable, or least less competitive in comparison to the domestic goods and services.
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Correct Question
A steel tariff increases the price of steel. What effect will this have on the supply of cars?
A. Increase in supply (supply curve shifts right).
B. Decrease in supply (supply curve shifts left).
C. Movement along the supply curve, but the supply curve does not shift.
D. No effect on supply.
Supply: Thinking Like a Seller — End of Chapter Problem
Jerome is working as an IT consultant. His individual labor supply curve is given in the accompanying graph. Jerome decides to enroll in college and will begin taking classes next semester.
Make the appropriate change to the graph to show the most likely effect on Jerome's labor supply curve of his decision to attend college. If Jerome's decision to attend college results in a change in supply, shift the supply curve appropriately but leave the wage line unchanged. If Jerome's decision to attend college results in a change in quantity supplied, adjust the wage line appropriately, but leave the supply curve unchanged.
The supply curve will shift to the left.
The supply curveThe most likely effect on Jerome's labor supply curve of his decision to attend college is that the quantity supplied of labor will decrease.This is because Jerome will have less time to dedicate to working and will have to prioritize school over his job.The supply curve will remain unchanged, but the wage line will shift downward, indicating that Jerome is willing to accept a lower wage for the same amount of labor.This is because Jerome will have to balance his workload between his job and school, so he will be willing to accept a lower wage in exchange for the same amount of labor.Therefore, on the graph, the wage line will shift downward, but the supply curve will remain unchanged.Jerome's decision to attend college is likely to have an effect on his labor supply curve.Although his decision to attend college is unlikely to have an effect on the supply curve itself, it is likely to have an effect on the quantity supplied.To learn more about The supply curve refer to:
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A supply curve slopes upward becauseO the quantity supplied of most goods and services increases over time.O an increase in price gives producers an incentive to supply a larger quantity. O as more is produced, total cost of production falls. O an increase in input prices increases supply
A supply curve slopes upward because an increase in price gives producers an incentive to supply a larger quantity.
Supply in economics refers to the quantity of a resource that businesses, producers, laborers, financial asset providers, or other economic actors are willing and able to deliver to the market or to an individual. Supply can be in the form of manufactured items, labor time, raw resources, or any other rare or valued item.
Supply is frequently graphed as a supply curve, with the price per unit on the vertical axis and the amount delivered as a function of price on the horizontal axis. This inversion of the dependent and independent variable's typical positions is an undesirable but standard practise.
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bmw produces cars exclusively for high-income customers. bmw is pursuing a ______________ strategy.
Bmw produces cars exclusively for high-income customers. bmw is pursuing a focussed differentiation strategy.
The competitive scope of a focussed differentiation strategy is narrower than that of a standard differentiation approach. A targeted differentiation approach requires organisations to offer distinctive qualities to a product or service while still meeting all of the needs of a specialised or small market. A broad differentiation approach, also known as a conventional strategy, is creating a brand or any business that differs in some ways from its competitors. It is used in industries with a diverse consumer base. A differentiation strategy is a strategy designed by firms to provide clients with something distinctive or different from the things given by their competitors in the marketplace.
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