Customer Theory, Microeconomics' consumer theory examines how people decide what to buy and how much to spend, taking into account their tastes and financial limitations. It is founded on the idea of utility, which stands for the satisfaction or joy obtained from consuming various things.
Customer Theory is the study of how people make financial decisions based on their own preferences and financial limitations. Consumer theory, a subfield of microeconomics, explains how people make decisions based on their disposable income and the costs of products financial limitations and services.
Vendors can forecast which of their items will sell more easily when they have a better understanding of how consumers behave, and economists can better understand the invisible hand, the unobservable processes that affect the economy.
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The manufacturing shop is producing custom photo imprinted mouse pads for clients. The startup equipment cost $400. A mouse pad has a production cost of $3. The retail sale is $12.
1). Write a cost function
2). Write a revenue function
3). Give the break-even point
Please help me answer all 3 questions, thanks!
Answer:
\(c(x) =400 + 3x\)
\(r(x) = 12x\)
\(x = 44.44\)
Explanation:
Given
Cost
\(Equipment = 400\)
\(Production = 3\) per mouse pad
Revenue
\(Sales\ Price = 12\)
Solving (a): The cost function
Let the number of mouse pad be x and the cost function be c(x).
\(c(x) =Equipment + Production * x\)
\(c(x) =400 + 3 * x\)
\(c(x) =400 + 3x\)
Solving (b): The revenue function
Represent this with r(x)
\(r(x)= Sales\ Price * x\)
\(r(x)= 12 * x\)
\(r(x)= 12 x\)
Solving (c): The break-even point
This is the point where r(x) = c(x)
So, we have:
\(12x = 400 + 3x\)
Collect Like Terms
\(-3x+12x = 400\)
\(9x = 400\)
Solve for x
\(x = \frac{400}{9}\)
\(x = 44.44\)
the small business is a u.s. government agency that helps small business owners obtain financing and other support for their companies. true or false?
The Small Business Administration (SBA) is a U.S. government agency that assists small business owners in obtaining financing and other forms of support for their companies. The statement is true.
The Small Business Administration (SBA) is a federal agency in the United States that was created to support and promote the growth and development of small businesses. It provides various services and programs to help small business owners succeed, including access to capital through loan programs, assistance with business planning and development, and resources for government contracting opportunities.
The SBA works in collaboration with banks and lending institutions to guarantee loans for small businesses, making it easier for them to obtain financing.
Additionally, the SBA offers counseling and training services to help entrepreneurs navigate the challenges of starting and managing a small business.
Therefore, the statement that the SBA is a U.S. government agency that helps small business owners obtain financing and other support for their companies is true.
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Deena works at a small brewery. She is the only person trained in changing out the labels on the automatic bottling machine. The brewery has high dependency on deena because she has low.
Deena works at a small brewery. She is the only person trained in changing out the labels on the automatic bottling machine. The brewery has a high dependency on Deena because she has low substitutability
What is a substitute?In economics and consumer theory, a substitute, or substitutable good, is a product or service that consumers perceive to be essentially the same or similar-enough to another product. Simply put, a substitute is a product that can be used instead of another.
Deena is employed at a small brewery. She is the only person who has been trained to change the labels on the automatic bottling machine. Deena is extremely important to the brewery.
Deena is the only one who knows how to change the machine's labels. As a result, there is a high reliance on Deena because she has low substitutability, which means there is no other resource available to replace her for the job.
Therefore, it illustrates low substitutability.
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What is a trade off.
Answer:
the exchange of something valuable
Explanation:
Answer:
A trade-off is exchange something of value, especially as part of a compromise.
Explanation:
Select the best alternative for the following questions:
i. Which of the following transactions are not recorded in book keeping?
a) Sold Goods on Credit.
b)
Introduce capital in the business.
c) Resignation of marketing manager.
d) Drawing cash from business for personal use.
..
Answer:
c. the resignation
Explanation:
this would not affect the bottom line of the company and is therefore irrelevant
Griffin's Goat Farm, Inc., has sales of $680,000, costs of $342,000, depreciation expense of $86,000, interest expense of $53,000, and a tax rate of 23 percent.
What is the net income for this firm?
The net income for Griffin's Goat Farm, Inc. is $153,230. It is the amount of profit earned by the company after deducting all the expenses and taxes.
To calculate the net income for Griffin's Goat Farm, Inc., we need to subtract all the expenses from its sales revenue and then deduct the taxes payable on the remaining amount.
Starting with the sales revenue of $680,000, we subtract the cost of goods sold of $342,000, which gives us a gross profit of $338,000. We then subtract the operating expenses, which include depreciation of $86,000 and interest expense of $53,000, for a total of $139,000.
This leaves us with an operating income of $199,000 ($338,000 - $139,000). To calculate the net income, we need to deduct the taxes payable on this amount, which is calculated as 23% of the operating income.
So, the net income for Griffin's Goat Farm, Inc. can be calculated as follows:
Net Income = Operating Income - Taxes Payable
Net Income = $199,000 - (0.23 x $199,000)
Net Income = $199,000 - $45,770
Net Income = $153,230
It is essential to calculate the net income to evaluate the company's financial performance and make important business decisions.
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Match each situation with the benefits that professional organizations provide.
Bob wants to gain extra
knowledge by joining a
professional organization.
Libby seeks money for
research in a particular field.
Joseph wants to know the
latest legislation pertaining
to his industry.
Debby wants to work as
an intern under the guidance
of an expert in her field.
Chad likes to meet with
members of his fraternity to
get a better perspective
of their work.
The situations indicated above are matched with the benefits that professional organizations provide as follows.
What is the match?
Bob wants to gain extra knowledge by joining a professional organization. - Professional organizations provide continuing education opportunities to their members, allowing them to gain new knowledge and skills in their field.
Libby seeks money for research in a particular field. - Professional organizations often offer research grants and funding opportunities to their members, which can help support their research endeavors.
Joseph wants to know the latest legislation pertaining to his industry. - Professional organizations can provide information and resources on industry-specific legislation and regulations, keeping their members informed and up-to-date.
Debby wants to work as an intern under the guidance of an expert in her field. - Professional organizations may offer internship programs or connect their members with mentors and industry experts, providing valuable networking and learning opportunities.
Chad likes to meet with members of his fraternity to get a better perspective of their work. - Professional organizations can provide opportunities for networking and collaboration with others in the same field, allowing members to gain insights and perspectives on different aspects of their work.
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What is the role of the franchiser when a franchise is purchased?
Answer:
The franchisor owns the brand and the operating system that they license to their franchisees. ... The franchisor grants the franchisee the right to operate the business under the franchise system's trademarks and service marks and enforces the brand standards of the system.
Answer:
The franchisor grants the franchisee the right to operate the business under the franchise system's trademarks and service marks and enforces the brand standards of the system.
explain reasons for NGO's and CBOs to be part of the market environment
Answer:
explain reasons for NGO's and CBOs to be part of the market environment
Explanation:
explain reasons for NGO's and CBOs to be part of the market environment
Explanation:
NGOs exist for a variety of purposes, usually to further the political or social goals of their members. Examples include improving the state of the natural environment, encouraging the observance of human rights, improving the welfare of the disadvantaged, or representing a corporate agenda.
Consider a bond with maturity 2 year, 100 face value, coupon 4.60%, and yield 7.00%. compute a dollar duration numerically using a dy =0.001%. report you result with two digits decimal accuracy and the correct sign. example: -185.95
The dollar term for security with developing long term, 100 presumptive worth, coupon 4.60%, and yield at 7% is - 0.00174785.
Presently, we should compute the dollar span of this bond.
Security cost at yield 7% = (coupon rate/1 + yield rate) + (coupon rate + 100)/(1 + yield rate) ^2
= 4.6/1.07 + 4.6 + 100/1.07^2
= 4.29906542 + 91.36169098
= 95.6607564
note : with dy = 0.001%, new yield = 7.001%
New security cost with a new yield of 7.001%
= (coupon rate/1 + new yield rate) + (coupon rate + 100)/(1 + new yield rate) ^2
= 4.6/1.07001 + (4.6 + 100)/1.07001^2
= 4.29902524 + 91.35998331
= 95.65900855
Consequently, the dollar span for this bond is = 95.65900855 - 95.6607564
= - 0.00174785.
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an outward shift in the production possibilities curve of an economy can be caused be an increase in
An increase in capital causes the production possibilities curve of an economy to go outward.
What do you understand by capital?Usually, money or other liquid assets are held or acquired for use as capital. The phrase can be used broadly to refer to all of a company's monetary-valued assets, including its inventory, real estate, and equipment.
It boosts worker productivity, which benefits the economy as a whole. A increasing population, the importance of technology, and specialization have forced manufacturers to get additional funding and supporting resources to meet demand. According to some, capital accumulation is the foundation of economic growth.
Capital is the portion of money that can be used to create more wealth. Other than the free gifts of nature that provide income, all forms of wealth are considered to be capital, according to Marshall. As a result, capital refers to any forms of wealth—aside from land—that contribute to the continued generation of revenue.
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If the reserve ratio is 20%, and the money supply increases by $100,000 because of open-market operations, then the Federal Reserve made a purchase of $_____ in Treasury bills.
Answer:
$20,000
Explanation:
9. If you found that you were in financial trouble because of credit and had great difficulty paying your monthly bills, what would you do?
Answer:
You would have to cut down on some luxuries, like lots of foods, amusement parks, shopping trips, etc. If you have have extra hours, work more hours, quite possibly take another job.
Explanation:
an employee can be dismissed if their job surplus to requirements' outline why this state ment is false
Homedwrer's Drductible And Lew Auto Deductibie Is O. 07, (Po Of Ail Such Irdivisuals). Mial Deạuctimle Torseemer's
The mail deductible for the homeowner is $0.07 (7% of all such individuals).
How is the homeowner's mail deductible calculated?The homeowner's mail deductible is calculated as 7% of the total value of all such individuals.
This means that if the homeowner is part of a group of individuals eligible for mail deductions, their deductible amount will be 7% of the total value.
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what do you pore first the cereal or the milk? True or false.
What is the difference between margin account vs cash account?
The difference between margin account vs cash account is of Trading Capabilities, Risk and Requirements.
Here are the main differences between the two:
Trading Capabilities:
Cash accounts, In a cash account, you can only trade with the money you have deposited into the account. You cannot borrow funds from the broker to make trades.
Margin accounts, In a margin account, you can borrow money from your broker to purchase securities. This means you can buy more shares than you would be able to with just the cash in your account.
Risk:
Cash accounts, Trading in a cash account is considered less risky because you can only use the funds you have deposited. You cannot lose more money than you have in the account.
Margin accounts, Trading in a margin account can be riskier because you can borrow money from the broker. This means that losses can exceed the amount of cash in your account, and you can end up owing your broker money if your trades go against you.
Requirements:
Cash accounts, To open a cash account, you only need to deposit the minimum amount required by the broker.
Margin accounts, To open a margin account, you need to meet the broker's minimum requirements, which typically include a certain amount of cash and securities in your account, and you must also agree to the terms and conditions of the margin account.
In summary, the key difference between a margin account and a cash account is the ability to borrow funds from the broker to make trades. Margin accounts allow you to take on more risk and potentially make larger gains, but they also come with the risk of losing more money than you have in the account. Cash accounts are considered less risky, but you have limited trading capabilities since you can only use the cash you have deposited in the account.
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Charity organisation has asked you to raise money for it by running a fete The organiser has given you a maximum amount to spend how would you plan the fete using a computer model and make a profit
Answer:
Charity fund should be handled with care as it is donor's money which should be handled with care. The amount of charity should be spent for the actual cause.
Explanation:
Charity fund is the money which should be handled with great care. The major fund of the charity should be attribute to the main cause and there should be proper record maintenance for every penny spent. The charity fund is the responsibility of the management and any donor can ask anytime about the money spent.
what can i do if my total in cash account is not the same in credit and debit side?
Answer:
Consider which items are meant for debit and credit.
Explanation:
The principle of double entry States that for every debit entries, there must be a corresponding credit entries and vice versa. This principle follow suits when preparing ledger accounts and trial balance.
Trial balance is the arithmetrical accuracy of the ledger. Once double entry principle is adhered to, the trial balance must definitely balance.
Where there are differences, check that items which ought to be debited and credited are correctly done. Also check if correct amount is posted like avoiding transposition error.
Critical reading is a
a Theory
b. Process
C. Summarization strategy
d. None of these
Please select the best answer from the choices provided
A
В
C
D
Answer:C
Explanation:
Answer:
The correct answer for this question is B
what is utility in business and marketing
Answer:
Utility marketing is the concept whereby a brand intersects the consumer at the moment of a non-commercial need, addresses their need, becomes a part of their life, and remains with them for when they're ultimately ready to make a purchase.
True or False: Classifying products into meaningful categories helps marketers decide which strategies and methods will help promote a business's product or service.
True. Product categorization assists marketers in determining which techniques and approaches will best promote a company's product or service. Marketers may acquire a better knowledge.
of each product and its market potential by categorizing them based on its qualities, features, advantages, and target audience. This data may then be utilized to create effective marketing plans and select the best channels and approaches for reaching out to and engaging potential clients. If a product is classed as a luxury item, the marketer may opt to target wealthy clients through high-end retail establishments, high-end periodicals, and exclusive events. If, on the other hand, a product is designated as a low-cost item, the marketer may opt to target low-cost clients through discount outlets.
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Five hundred popular porcelain dolls were produced and sold at a certain price. Years later, there were only 10 of these very popular dolls available to be purchased. What likely happened to the price of the dolls
The price of the dolls likely increased.Overall, the likely outcome is an increase in the price of the dolls due to their scarcity and the corresponding demand from collectors or individuals who desire these particular items.
When the supply of a product decreases while the demand remains constant or increases, it creates a situation of scarcity. In this case, with only 10 dolls available out of the initial 500, the supply has significantly decreased. As a result, the price of the dolls is likely to increase.
The decrease in supply relative to the demand for these popular porcelain dolls creates a sense of rarity and exclusivity. Collectors or individuals who desire these dolls may be willing to pay a higher price to obtain one due to their limited availability. The scarcity of the dolls increases their perceived value, which drives up the price.
The increased price is a reflection of the market dynamics of supply and demand. With a limited supply, the price serves as a mechanism to balance the quantity demanded and the quantity supplied. In this case, the price acts as an incentive for potential buyers to weigh the value they place on owning one of the few remaining dolls against the higher cost associated with acquiring it.
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a company estimates that warranty expense will be 2% of sales. the company's sales for the current period are $146,000. the current period's entry to record the warranty expense is: multiple choice debit estimated warranty liability $2,920; credit cash $2,920. debit warranty expense $2,920; credit sales $2,920. no entry is recorded until the items are returned for warranty repairs. debit estimated warranty liability $7,960; credit warranty expense $7,960. debit warranty expense $2,920; credit estimated warranty liability $2,920.
Debit warranty expense is $5,380. the company estimated warranty liability of $5380.
Estimated Corporate Expenses means the sum of (i) corporate expenses incurred prior to the filing date of the Estimated Closing Balance Sheet and (ii) a reasonable estimate of corporate expenses incurred after that date.
Estimated cost is a projection of the cost that will be incurred to build a product or to build something. This amount is derived as part of the internal project capital budgeting process or as part of the analysis.
When you're dealing with the information presented in a clustered frequency table, you don't know all the values, so you can't calculate the actual average. Instead, we do our best to estimate the mean.
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descriptive statistics supply information about the variables, but the researcher must make value judgments or inferences about what the data mean.
Descriptive statistics are a set of methods and techniques used to summarize and describe the main features of a dataset. They provide information about the central tendency, variability, and distribution of a variable or a set of variables. Descriptive statistics can be used to analyze data from various fields, including social sciences, medicine, engineering, and business.
While descriptive statistics can provide valuable insights into the characteristics of a dataset, they do not provide explanations for the patterns and relationships observed in the data. Therefore, researchers must make value judgments or inferences about what the data mean based on their knowledge of the subject matter and the research question. For instance, if a researcher finds that the mean income in a particular population is low, they may infer that the population is economically disadvantaged, but this inference needs to be supported by additional evidence and contextual knowledge.
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Sales to small businesses that typically purchase from dealerships represent almost __________ vehicles per year.
Answer:
Sales to small businesses that typically purchase from dealerships represent almost Three million vehicles per year.
Explanation:
If you desire your company to bring in more business, there are simply 4 Techniques to Increase Revenue: increasing the number of consumers, progressing average purchase size, improving the repetition of transactions per consumer, and increasing your prices.
Tips on how to enhance sales for your small enterprise
Ask queries and hear.Showcase your complete potential.Calculate the sale.Stand out.how does 2022 versa’s electric power-assisted steering enhance fuel efficiency?
It should be noted that Versa’s electric power-assisted steering enhances fuel efficiency as it doesn't rely on engine power.
Electric power assisted steering refers to any type of power steering wheel that is used to attenuate the effort of the driver that's required to steer the vehicle.
The 2022 Versa’s electric power-assisted steering enhance fuel efficiency because it doesn't rely on engine power.
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explain economics in your own words
morgan is moving to a new city. she should consider each of these factors when selecting a new financial institution except
Answer:
all except PMI
Explanation:
Creating graphs to reach equilibrium
On a graph, the point the place the grant curve (S) and the demand curve (D) intersect is the equilibrium.
How do you draw a demand and supply curve at equilibrium?Put the quantity of the top you are requested to analyze on the horizontal axis and its charge on the vertical axis. Draw a downward-sloping line for demand and an upward-sloping line for supply. The preliminary equilibrium charge is determined with the aid of the intersection of the two curves. Label the equilibrium solution.
The equilibrium curve of a given shape represents, to some extent, its behavior. This curve is developed in an (n + 1) dimensional house if the device is of finite dimensions; otherwise, for continuum structures (such as beams, plates, shells, and deformable our bodies in general), the corresponding area is infinite.
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