Answer:
competitor-oriented pricing
Explanation:
competitor-oriented pricing is a technique for valuing in which a producer's value is resolved more by the cost of a comparable item sold by an incredible contender than by contemplation of purchaser request and cost of generation; likewise alluded to as Competition-Based Pricing.
For instance: a firm needs to value another espresso producer. The company's rivals sell it at $25, and the organization thinks about that the best cost for the new espresso producer is $25. It chooses to set this very cost without anyone else item.
Final answer:
Diana is implementing a competitive pricing strategy by matching her bakery's cupcake prices to that of her competitor, CC's Bakery. This approach is grounded in selecting prices based on competition, which can also align with the principles observed in perfectly competitive markets or strategies used by companies to adjust to cost changes.
Explanation:
When Diana decides to lower her prices to match those of CC's Bakery, she is implementing a competitive pricing strategy. This strategy involves setting a price point that is directly influenced by competitors' pricing rather than solely based on costs or demand. In the context of a perfectly competitive market, firms often select an output level where the Price equals Marginal Revenue (MR) equals Marginal Cost (MC), such as the example provided where a drop in price to $2.75 for a pack of frozen raspberries leads to a break-even point. Similarly, a messenger company experiencing a drop in gasoline prices may choose to increase its supply due to lower operating costs and the potential for higher profits.
In some cases, businesses may use predatory pricing to deter new firms from entering the market by setting prices exceptionally low, challenging the profitability and sustainability of competitors. However, Diana's strategy does not necessarily imply predatory intentions; her action might simply be a response to maintain market share and to remain competitive in her business environment.
Ending assets for CompuHelp equals $650,000, and the beginning retained earnings was $325,000. If net income during the period was $225,000 and the cash dividends paid total $150,000, what is the ending liabilities (assume common stock is zero)?Ending liabilities will be $250,000
Answer:
It is $250,000
Explanation:
Ending retained earning = Retained earnings at the beginning+Income during the period-dividends paid
= $325,000+$225,000-$150,000
= $400,000
Ending liabilities = Total Assets- Ending retained earnings
= $650,000-$400,000
=$250,000
Using Accounting equation, All Assets= Total equity and liabilities
Americans spend the largest portion of their budget on
a. entertainment
b. housing
c. transportation
d. food
Please select the best answer from the choices provided
Oo oo
Mark this and return
Save and Exit
Next
Answer:
Americans spend the largest portion of their budget on Housing
Explanation:
Reason why housing has the highest budget allocation among the rest is as a result of its importance to life sustainability. Every Americans must reside in a place called house although the availability of some certain factors makes the price to vary but it does not negates the importance and why they spend more on housing rather than otherwise.
Assume you are given the following relationships for the Haslam Corporation: Sales/total assets - 1.9 Return on assets (ROA) - 4% Return on equity (ROE) - 6%Calculate Haslam's profit margin and liabilities-to-assets ratio. Suppose half its liabilities are in the form of debt. Calculate the debt-to-assets ratio.
Answer:
Profit margin = 2.11%
Haslam's liabilities-to-assets ratio = 33.33%
Debt-to-assets ratio = 16.50%
Explanation:
Calculate Haslam's profit margin. /total assets)
Profit margin = 4%/1.9
Profit margin = 2.11%
Calculate Haslam's liabilities-to-assets ratio.
Haslam's liabilities-to-assets ratio = 1- ROA/ROE
Haslam's liabilities-to-assets ratio = 1- 4/6
Haslam's liabilities-to-assets ratio = 33.33%
Suppose half of Haslam's liabilities are in the form of debt.
Debt-to-assets ratio = Haslam's liabilities-to-assets ratio = 0.33
Debt-to-assets ratio = 50%*0.33
Debt-to-assets ratio = 16.50%
Haslam's profit margin is 2.11% and the liabilities-to-assets ratio is 33.33%. Finally, his Debt-to-assets ratio is 16.50%
What is the calculation for profit margin?[tex]Profit margin = \frac{ROA}{total assets} \\=\frac{0.04}{1.9} * 100\\=2.11[/tex]
What is the calculation for the liabilities-to-assets ratio?[tex]1- \frac{ROA}{ROE} \\1-\frac{0.04}{6} \\=33.33[/tex]
What is the calculation for the debt-to-assets ratio?[tex]0.5*0.33\\=0.1665*100\\=16.5[/tex]
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A written pledge by a lender to lend a certain amount of money to a qualified borrower on a particular piece of real estate for a specified time under specific terms is a:_____________
Answer:
The correct answer is a LOAN COMMITMENT
Explanation: A loan commitment is a commitment by a lender of an amount that he will loan to a qualified borrower on a specific piece of real estate for a specified period of time under certain conditions.
This commitment may be conditional, qualified or firm and contains details of the borrower.
Consider the following bond quote: a municipal bond quoted at 101.25. If the municipal bond has a par value of $5,000, what is the price of the bond in dollars?
Answer:
= $5,062.5
Explanation:
A municipal bond represents a security usually of debt used primarily for capital expenditure financing by the government of a municipality, a state or a county. Such capital expenditure includes building infrastructures such as roads, schools, hospitals, bridges among several others.
Municipal bonds are usually exempted from taxes; federal taxes and even in quite a number of states both the state and the local taxes. This is done to motivate the people to purchase the bonds.
To calculate the price of the bond in dollars, the step is to
Multiply the Municipal bond quote (in percentage) by the Municipal bond par value
= Municipal bond quote = 101.25%
Municipal bond par value= $5,000
= 101.25% x $5000
= $5,062.5
Final answer:
The price of a municipal bond quoted at 101.25 with a par value of $5,000 is $5,062.50. If the bond's interest is less than the market interest rate, it would be priced less than its face value to remain competitive.
Explanation:
To calculate the price of a municipal bond quoted at 101.25 with a par value of $5,000, you would multiply the par value by the quoted percentage price. A quote of 101.25 means that the bond is selling for 101.25% of its par value. So the calculation is:
Price of bond = Par value × (Quoted price / 100)
Price of bond = $5,000 × (101.25 / 100)
Price of bond = $5,000 × 1.0125
Price of bond = $5,062.50
Therefore, the price of the municipal bond in dollars is $5,062.50.
When considering bond prices and interest rates, if the bond's interest rate is less than the market interest rate, you would generally expect to pay less than the par value for the bond. Using the provided example, if a bond's expected payments are $1,080 and the market interest rate is 12%, an alternative investment would need a present value of $964 to match that future value. This results in the bond being priced at or below $964 since it must be competitive with the market.
Arlene makes earrings in the shape of the mascot of a local university. Last year Arlene made 250 pairs of earrings, which she sold to the university bookstore for $10 each. Arlene works out of her home, so her only cost is $3 per pair for materials and $85 for tax help. If Arlene didn't produce earrings, she would spend her time babysitting her nephews and make about $500 per year. a. Arlene's economic profit is $1,665. b. Arlene's accounting profit is $1,165 c. Arlene's total costs are $835. d. Arlene's total revenue is $2500.
Answer:
d. Arlene's total revenue is $2500.
Explanation:
Given that
Number of earrings pair = 250
Sale value each = $10
Material cost per pair = $3
For tax help =$85
Per year produce value = $500
By considering the above information
The total revenue would be
= Number of earrings pair × sale value each
= 250 pairs × $10
= $2,500
Hence the total revenue is $2,500
Only d option is a true statement rest options are wrong.
The value of Maggie's car decreased by 15% since last year, when she bought it. If the car is now worth $21,000.00, how much was the car worth when she bought it?
Answer:
car worth when she bought it is $24705.88
Explanation:
given data
value of car decreased = 15%
car now worth = $21,000.00
solution
we consider here car worth when she bought it = x
value of car decreased 15 % it mean
(100 - 15% ) price 85% = $21,000.00 ........1
when car price 100% = x ...............2
so from equation 1 and 2 we get
x × 85 = 100 × $21,000.00
solve it we get
x = 24705.88
so car worth when she bought it is $24705.88
AD corporation had sales of $750,000 and costs of goods sold of $350,000. Inventory at year end was $87,500. What is the inventory turnover?
Answer:
4 times
Explanation:
The inventory turnover ratio of the AD corporation can be calculated using the below mentioned formula:
Inventory turnover=Costs of goods sold/Average inventory
In given question
Costs of goods sold=$350,000
Assuming, inventory at year end= Average inventory=$87,500
Inventory turnover=$350,000/$87,500=4 times
Kin based societies, headed by hereditary leaders or priests with the powers such as ceremonial and labor organization, land use supervision, and resource distribution are known as:____________.
Answer:
Chiefdoms
Explanation:
Kin based societies, headed by hereditary leaders or priests with the powers such as ceremonial and labor organization, land use supervision, and resource distribution are known as Chiefdoms
Chiefdoms are forms of hereditary political organization that is usually based on kinship, in which power is left in the hands of the most senior members of the royal family or selected ruling families. They also exercise economic powers of resource distribution.
A 65-year old retired teacher living on a pension has $200,000 invested in 2 year certificates of deposit that are yielding 4%. $20,000 of the CDs are maturing and the customer wants to diversify into an investment that gives a higher return and a moderate level of risk. The BEST recommendation would be:
A. High yield corporate bonds
B. Treasury strips
C. Equity REITs
D. Income bonds
Answer:
The BEST recommendation would be:
C. Equity REITs
Explanation:
Equity REITs are Real Estate Investment Trusts that allow investors to purchase real estate without necessarily going out and buying the property themselves. They act as middlemen between the investors and the property sellers. The equity REITs invest and own property. The REITs in this way act as a type of security where the property can be traded in the market exchange like stocks and bonds. In this way, investments from large and small investors can purchase a piece of the real estate depending on the amount invested. The investors then own what is called, a share of the real estate.
To be a REIT, one needs to meet certain standards and regulations, for example; the REIT has to have more than 100 shareholders, the REIT has to be managed by a board of directors and the dividend payments have to be at least 90 percent of the REIT's taxable income per year. Equity REIT typically invest in the real estate sector like; industrial estates, residential estates and resorts. The y gain revenue from the rental income from the real estate holdings. This option would be best for the retired teacher since Equity REITs pay high dividends and the risk level is moderate since the real estate investments is diverse.
High yield corporate bonds have a higher return but the risk level is also considerable high. Treasury strips have low returns even though the risk is also very low. Income bonds have a high return only if the investor also has a high net income.
If a company that was started this month has net income of $30,000, dividends of $4,000, and liabilities of $20,000, how much is ending retained earnings for the month?
Answer: $26,000
Explanation: Retained earnings could be defined as that portion of a company's earnings that hasn't been distributed to shareholders as dividends. It is reserved as working capital, clear outstanding liabilities and general running of the business.
Retained Earning is calculated using the formula :
Retained Earning (RE) = beginning retained earning + Net income - dividend
Since the company just started (1st month), there was no previous retained earning.
Therefore,
RE = Net income - dividend
RE = $30,000 - $4,000 = $26,000
A registered representative sends a prospecting letter to customers stating that significant profits can be achieved by purchasing call options in a rising market. This claim:
Answer:
B) must be balanced by a statement that trading options can also result in significant losses.
Explanation:
Representatives do not trade securities by themselves, they only enter orders on behalf of their clients and following their clients' orders. That means that the clients assume the risk of losing money due to a bad investment. The clients are also the ones that benefit the most since it is their money being invested. Any statement that states the possibility of significant earnings, must also include the possibility of significant losses.
A 76.00 pound flask of mercury costs $ 125.50 . The density of mercury is 13.534 g/cm 3 . Find the price of one cubic inch of mercury by calculating intermediate values. What is the price of one pound of mercury?
Answer:
1 cubic inch cost = $0.80
1 pound of cost = $1.65
Explanation:
given data
76.00 pound mercury costs = $125.50
density of mercury = 13.534 g/cm³
solution
we get here 1 pound of cost that is
1 pound of cost = [tex]\frac{125.50}{76}[/tex]
1 pound of cost = $1.65
or
453.5 gram cost = $1.65
now we get volume of flask
volume of flask = 76 × [tex]\frac{453.5}{13.534}[/tex]
volume of flask = 2546.62 cm³ = 155.40 cubic inch
so 155.40 cubic inch cost = $125.50
and 1 cubic inch cost = [tex]\frac{125.50}{155.40}[/tex]
1 cubic inch cost = $0.80
Suppose Oliver's marginal utilities from an ice cream cone and a box of chocolate cookies are valued at $6 and $10, respectively. The marginal costs of an ice cream cone and a box of chocolate cookies are $5 and $10, respectively. According to marginal analysis, Oliver should:
Answer:
Purchase the Ice Cream Cone for a net addition to marginal utility of $1
Explanation:
Marginal Utility is explained as the level of satisfaction that is added when a consumer consumes an additional unit of a product or patronizes a service. It determines the number of items an individual is willing to purchase based on his additional satisfaction from every extra item.
If the additional item leads to an increase in total utility then it is called positive marginal utility and when it decreases total utility then it is called negative marginal utility.
Oliver based on marginal analysis should purchase the Ice Cream Cone for the difference in value of $5 to 6$, that is the net additional marginal utility of $1, but should not purchase the box of chocolate because the marginal utility does not change it remains $10
plz help ASAP!!!!!
WILL MARK BRAILLRSIT
Answer:
for old fashioned: pros- it is official and original and cons- the tax papers can be lost and theft easilyfor tax preparation software- pros- it is convenient and time efficient to prepare tax papers in a software, cons- it may get deleted, or plagiarized. Also, one can easily steal the information thorugh hacking.for professional tax preparers : pros- they can neatly and easily prepare the papers, cons- they might be corrupted staff and can alter the numbersHope this answer helped...
Klingon Widgets, Inc., purchased new cloaking machinery three years ago for $6 million. The machinery can be sold to the Romulans today for $5.1 million. Klingon’s current balance sheet shows net fixed assets of $3.4 million, current liabilities of $895,000, and net working capital of $235,000. If the current assets and current liabilities were liquidated today, the company would receive a total of $1.15 million cash.
A. What is the book value of Klingon’s total assets today?
B. What is the sum of the market value of NWC and the market value of fixed assets?
Answer:
A. Book Value of Klingon’s Total Assets= Net Fixed Assets +Current assets = $3,400,000 + $1,130,000
=$4,530,000
B. What is the sum of the market value of NWC and the market value of fixed assets
i. Market Value of NWC = $5.1 million
ii. the market value of fixed assets =$5.1 million
Explanation:
Net working capital= Current assets minus current liabilities.
$235,000 =Current assets-$895,000
Current assets=$235,000 +$895,000= $1,130,000
Market value of new cloaking machinery(NWC) is equal to the market value of fixed assets. This is because the market values of other fixed assets is assume to be zero.
Book value of assets can be said as the value of the assets of the firm in the books of accounts. The total book value can be obtained by adding all the assets like fixed assets and current assets.
(a) The book value of Klingon Widgets Inc. can be calculated as follows:
Calculations[tex]\begin{aligned}\rm \: Total \:Assets&=\rm Net\: Fixed \: Assets+ Net\:Current\:Assets\\\rm Total \:Assets&= \$3,400,000+ \$1,130,000\\\rm \:Total \:Assets&= \$4,530,000 \end[/tex]
(b) Net Working Capital is the difference obtained by deducting current liabilities from current assets.
Net working capital is given as $235,000 in the question and fixed assets are assumed as zero. So the Sum of NWC and Fixed assets is also the same as NWC.
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Hot and Cold Corp. makes disposable coffee and soft drink cups for use in fast-food restaurants, hospitals, convenience stores, and the like. The company is working on a sturdy new product that will biodegrade within five years of being put in a landfill. According to the BCG matrix, this promising new product line would most likely be classified as a _____.
Answer:
Star in BCG matrix
Explanation:
BCG matrix is a system that helps the organization to decide on product sales, investment, etc. In BCG matrix, the product is divided into four types: dog, cash cows, stars and question marks.
stars - it is the type of product that makes high market share and growth. These produced large income but also require high investment
Hot and Cold Corp.'s new biodegradable cup line would likely be classified as a Question Mark in the BCG matrix, indicating a product with low market share in a high-growth market, requiring significant investment for growth.
According to the BCG (Boston Consulting Group) matrix, Hot and Cold Corp.'s new product line of disposable cups that biodegrade within five years of being placed in a landfill would most likely be classified as a Question Mark. The BCG matrix is a strategic tool used for portfolio analysis, categorizing business units or products into four quadrants based on their market growth rate and relative market share: Stars, Cash Cows, Question Marks, and Dogs.
A Question Mark represents a business or product with low market share but in a high-growth market. These products require significant investment to increase their market share but have potential for growth and possibly becoming Stars. Given the increasing pressure and demand for eco-friendly packaging solutions in the fast-food and beverage industry, this new line of biodegradable cups represents a high-growth opportunity but will initially have a small share in a competitive market as it seeks to establish itself.
As You Like It Inc. customizes its offers to each individual consumer. This practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as ________ marketing.a. nicheb. massc. differentiatedd. undifferentiatede. micro
Answer:
Micro marketing
Explanation:
The act of tailoring stuff for each individual customer is called micro marketing. It is designed to satisfy a small section.
If the product were not tailor made (same for all) yet targeted to a very selected section of the market, it would have been niche marketing.
The aspect of 'tailoring' products for the individuals is what differentiates between niche and micro marketing.
"Evaluations of financial information made through the study of plausible relationships among both financial and non-financial data are referred to as__________.
Answer: Analytical procedure
Explanation:
The analytical procedure is the process of the financial audit that basically helps in understanding the main objective of the client in the business.
It is one of the type of evidence gathering process for the auditors and helps in evaluating all the financial related data by analyzing both the non-financial or the financial information.
According to the given question, the analytical procedure is the evaluation of all the financial related data and also study of the plausible relationship in the system.
Therefore, Analytical procedure is the correct answer.
If demand is inelastic, then: a. buyers do not alter their quantities demanded much in response to advertising, fads, or general changes in tastes. b. the demand curve is very flat. c. buyers respond substantially to a change in price, but the response is very slow. d. buyers do not respond much to a change in price.
Answer:
d. buyers do not respond much to a change in price.
Explanation:
Inelastic demand means a stable demand. The phrase elasticity of demand is used to describe how responsive the demand for a service or a product is to changes in prices. Elastic demand means that the demand has stretching attributes. Changes in price will lead to a decrease or an increase in the quantity demand.
Inelastic demand means that changes in price do not have a significant impact on the quantity demanded. Essential goods and services that are necessary for survival, such as food and water, will have inelastic demand. Other items considered crucial such as fuel, oil, and gas will also have inelastic demand. People will have to consume them. A small change in price will not have an impact on demand.
Which wholesaler's channel function is demonstrated when a buyer receives quicker delivery because wholesalers are located closer than producers?
A. financing
B. buying and assortment building
C. risk bearing
D. warehousing
E. transportation
Answer:
E. transportation
Explanation:
The wholesaler is one of the middle-men in the channel of distribution that stands between the producer and the retailer in bulk breaking, he buys in bulk from the producers and sell to the retailer.
One of the functions of the wholesaler in the distribution value chain is the transportation of goods from manufacturer's warehouse to his warehouse at his own cost, thereby bringing the products closer to the consumers.
Adapting to new conditions like new innovations by competitors, fast-changing technological developments, and constantly evaluating what is working result in A. an assured profitability strategy.B. a broad market entry strategy.
C.an emergent strategy.D. unlimited revenue generation.E. a proactive strategy.
Answer: The correct answer is "C.an emergent strategy.".
Explanation: Adapting to new conditions like new innovations by competitors, fast-changing technological developments, and constantly evaluating what is working result in an emergent strategy.
Although not intentional, adopting an emerging strategy can help a company adapt more flexibly to the practical aspects of changing market conditions.
With this strategy a destination or a planning point is not assumed. On the contrary, the approach is that the strategy will emerge and develop as the organization advances.
The strategy arises as more is discovered about the environment and the views on the world, the needs of the clients, proposals and intentions are evaluated. It is a process of learning and adaptation.
Lucia is a chief financial officer in a large corporation. Her responsibilities include the full financial authority to make appropriations and authorize expenditures. Lucia is likely to be a member of ________ management.
Lucia is likely to be a member of the top management.
What is top management?The organization's top management is in charge of setting policies, rules, and strategic goals as well as giving leadership and guidance for quality management.
Additionally, it ought to identify persons in charge and keep them answerable for a variety of management system procedures. They supervise and assess each employee's contribution, performance, and growth when managing one or more employees.
Top management is a group of managers who oversee marketing, finance, etc., at various operational levels. For instance, the chief financial officer (CFO) and vice president of marketing, whose main responsibilities are to coordinate many elements and manage the operations of several units.
Therefore, Lucia is likely a member of top management, seeing her responsibilities in the corporation.
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Your clients are interested in an investment that may appreciate in value and be a hedge against inflation. Their best alternative is in:_______.
Answer:
REAL ESTATE
Explanation:
When an asset is expected to be an hedge against inflation it implies that such an asset is expected to maintain or increase its value over time. Real Estate is considered a hedge against inflation, because land on the one-hand is an asset that does not depreciate but appreciate and forms part of the buildings in real estate, and secondly, home values and rents normally increases during times of inflation.
The component of communication that enables a sender of a message to know that the message was received is called _____.
Answer: Feedback
Explanation: Feedback could be termed as 'response'. It signals the receipt of information between communicating systems. Feedback is an important part of communication, it enables the sender to affirm receipt of information by the receiver. Feedbacks forms a loop between communicating systems where the systems adjusts on information or products in the medium. Feedbacks could be in form of body movement in terms of face-to-face communication, messages and other methods of acknowledging receipt of information.
The organization structure at Kinetic Machines is horizontally divided into Marketing, Finance, Production, and R&D departments. Identify the departmentalization mode being used here. a) product.
b) geographic.
c) functional.
d) customer.
e) matrix.
Answer:
e. Matrix mode of Departmentalization
Explanation:
The matrix mode of departmentalization seeks to bring a combination the best features of both the task force (product or project) as well as the functional departmentalization modes with the aim of improving the cooperation among several components that are required for a particular activity in the organisation.
The aim is to organize the departments in the organisation based on a particular project or product line as well as around functional lines. This ensures that the advantages of the two modes can be combined.
The matrix departmentalization mode puts each department on the same line as described in the question and since no department has an hierarchy over the other but are horizontally lined, it is expected that they can work better with one another. However, due to the lack of a clear hierarchical system of chain of order there could be uncertainty when defining the reporting chain.
The departmentalization mode being used at Kinetic Machines is functional, which groups employees based on their areas of expertise or job functions.
Explanation:The departmentalization mode being used at Kinetic Machines is functional. Functional departmentalization groups employees based on their areas of expertise or job functions. In this case, the departments at Kinetic Machines are divided based on the specific functions they perform: Marketing, Finance, Production, and R&D.
Assessing the __________ of a tax system means determining the amount of tax revenue needed to fund the government and ensuring that the funds are provided by the system.
Answer:
Sufficiency
Explanation:
Tax is a compulsory levy imposed by the government of a sovereign state on her citizens. Difference types of tax are used by the tax authority to generate sufficient revenue and also to implement economic policy, these are direct and indirect taxes.
The word tax sufficiency relates to the measurement of the divergence if any between the actual tax yield and the expected aggregate tax revenue. This assessment will enable the government of the day to take corrective actions to close any observed gap.
Assessing the adequacy of a tax system involves determining the amount of tax revenue required for government functions and ensuring the system can provide it, with a focus on efficiency, understandability, and equitability.
Assessing the adequacy of a tax system means determining the amount of tax revenue needed to fund the government and ensuring that the funds are provided by the system. A good tax system should have certain characteristics to ensure that it meets the needs of public finance.
A tax system should be efficient, meaning it should raise the necessary revenues without unduly burdening the taxpayer. It should also be understandable, allowing the average citizen to easily comprehend the taxes they pay. Equitability is also a core component, with the expectation that the wealthier pay a higher amount reflecting their ability to contribute more.
The benefit principle suggests that those who use public services should pay more in taxes, reflective of the benefits they receive from government services.The Internal Revenue Service (IRS) in the United States is the regulatory authority empowered by Congress to collect taxes, making it a central element in public finance and the financing of government expenditures.
Furthermore, the federal tax system operates on principles like benefits received and the ability to pay. Governments require tax revenues to perform essential functions and supply goods and services such as legal systems, defense, roads, and education. The challenge is finding a balance in tax policy that meets revenue needs without impeding economic growth or contravening other public policy goals.
Three business partners owned 100% of a certain company. When they sold the company, one partner received exactly 5/8 of the proceeds of the sale and the other partners shared the remainder of the proceeds. How much money did the partner who received the smallest amount of the proceeds receive from the sale? A) The partner who received the smallest amount from the sale received exactly 1/5 the amount received by the partner who received the second largest amount. B) The partner who received the second largest amount from the sale received half of the two million dollars received by the partner who received the largest amount.
Answer:
The partner that received the largest amount got $2 million, the partner that received the second largest amount got $1 million, and the partner that received the lowest amount got $200,000
Explanation:
The partner that received the highest amount (I will call him A), got 5/8 of the proceeds.
The remaining 3/8 were divided in 1/6 for the partner that received the smallest amount (I will call him C) and 5/6 for the partner that received the second largest amount (I will call him B).
A got 5/8 or 10/16B got 5/6 x 3/8 = 5/16C got 1/6 x 3/8 = 1/16A got $2 million
B got $1 million
C got $200,000
Economic models are:
A. simplified versions of reality designed to analyze "what is" to explain human decision making in any context.
B. simplified versions of reality designed to analyze "what ought to be" to help the government improve outcomes.
C. simplified versions of reality designed to analyze "what is" to explain human decision making in a business context.
D. complex mathematical formulas designed to forecast future economic events such as inflation.
E. complex mathematical formulas designed to identify optimal market outcomes and guide policymakers.
Final answer:
Economic models are simplified tools that economists use to analyze and explain human decision making, specifically focusing on 'what is' in various contexts, rather than 'what ought to be' or predicting future events.
Explanation:
Economic models are simplified representations of reality that economists use to explain human behavior and decision making in various contexts. They serve as tools for analyzing "what is" rather than "what ought to be". These models usually involve the use of theories which, unlike mathematical formulas predicting future events, are fundamental in understanding and predicting economic outcomes.
For instance, the model of supply and demand curves exemplifies the concept of market equilibrium, demonstrating how prices tend to stabilize in the market place. This shows how economic models are vital in explaining economic phenomena and assisting in economic decision making at both a microeconomic and macroeconomic level.
Economic models, therefore, are not merely complex mathematical formulas used for forecasting but are built on both simple and complex assumptions that help explain real world scenarios, helping everyone from policymakers to individuals make informed decisions.
A young engineer borrowed P21,552 at 10% interest and paid P3,735 per annum for the last 3 years. What does he have to pay (in pesos) at the end of the following year in order to pay off his loan?
Answer:
Explanation:
PV=21552
3735*3=11205 paid off
n=4 years
if we find FV, it is equal to 31554.3 (amount to be paid)
Already paid 11205, so 31554-11205=$20349 needed to pay at the end of 4th year