The average variable cost is $0.83 per widget.
To calculate the average variable cost, we need to understand the concept of variable costs and how they relate to the production of widgets. Variable costs are expenses that change in direct proportion to the level of production or output. They include costs such as labor, raw materials, and utilities, which increase as the firm produces more widgets.
In this scenario, the firm produces 600 widgets with a total cost of $1,300 and fixed costs of $800. Fixed costs are expenses that do not change with the level of production and remain constant regardless of the number of widgets produced. In this case, the fixed costs are incurred regardless of whether the firm produces 600 widgets or any other quantity.
To find the average variable cost, we need to calculate the total variable cost. Total variable cost can be obtained by subtracting the fixed costs from the total costs. In this case, the total variable cost is $1,300 - $800 = $500.
Next, we divide the total variable cost by the quantity of widgets produced to find the average variable cost. In this case, the average variable cost is $500 / 600 = $0.83 per widget.
The average variable cost represents the variable cost incurred per unit of output. It indicates how much the firm is spending on variable inputs, such as labor and materials, to produce each widget. In this case, the firm incurs an average variable cost of $0.83 for each of the 600 widgets produced.
Understanding the average variable cost is essential for firms to make informed decisions about their production levels and pricing strategies. By analyzing the relationship between the cost of producing each unit and the market price of the product, firms can assess their profitability and make adjustments to optimize their operations.
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When are budgetary comparison schedules or statements required?
Should the actual revenues and expenditures on the budgetary
comparison schedules be reported on the GAAP basis? Why or why
not?
This necessitates that budgetary comparison schedules must be reported in conformity with GAAP, which is important for consistency in accounting and financial reporting throughout the year.
Budgetary comparison schedules or statements are needed for the following reasons:Budgetary comparison statements or schedules are financial statements that compare the estimated and actual amounts for the government's general and other funds for the year. These are the differences between the approved budget and the reported results for the time, which are based on legal requirements, the requirements of management, or other reporting considerations.There are no explicit GAAP requirements for the layout and content of the budgetary comparison schedule. This does not mean that the budgetary comparison schedule should not be prepared in compliance with GAAP, but rather that GAAP does not prescribe a set of procedures or standards that must be followed.GAAP requires that the budgetary comparison schedule display both the original and revised budget. In addition, actual figures should be reported using the basis of accounting that is most similar to the basis of accounting used in the budget.According to the generally accepted accounting principles, actual revenues and expenditures must be reported on the same basis as the budget for the reporting year. This necessitates that budgetary comparison schedules must be reported in conformity with GAAP, which is important for consistency in accounting and financial reporting throughout the year.
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Econmics. 'Cause Lord knows that I don't be paying any kind of attention in that class
Answer:
lol
Explanation:
It has been noted that there is a connection between individualism that is fostered by Protestantism anda. government intervention in business activities.b. the willingness of a country to import foreign goods.c. feminine-based societies.d. the growth of the caste system.e. the extent of entrepreneurial activity in a nation.
It has been observed that there is a link between the individualism that Protestantism promotes and government involvement in commercial activity.
What does individualism mean?A basic emphasis on the value of the individual is emphasized by individualism, a moral perspective, political philosophy, ideology, and social orientation. Talk of individualism frequently involves comparisons to totalitarianism, collectivism, and other more oligarchical social structures. The core idea behind individualism is that the human individual must be at the center of the fight for liberty. Consequently, it is more person-centered. Individual humans are viewed as the primary analytical unit by ideologies including anarchism, existentialism, liberalism, and libertarianism. Talk of individualism frequently involves comparisons to totalitarianism, collectivism, and other more oligarchical social structures. It has been observed that there is a link between the individualism that Protestantism promotes and government involvement in commercial activity.To learn more about individualism refer to:
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true or false liberal democrats advocate for a free market economy.
False. Liberal democrats advocate for a free market economy.
Liberals considered free market economy to be a chance for industrialist business visionaries to succeed.
The free market economy is a monetary framework in light of organic market with practically no administration control. It is an outline depiction of all willful trades that occur in a given financial climate. Unregulated economies are described by an unconstrained and decentralized request of plans through which people pursue financial choices.
In light of its political and legitimate standards, a nation's unrestricted economy might go between extremely huge or completely unlawful. The expression "unregulated economy" is once in a while utilized as an equivalent for free enterprise. At the point when a great many people examine the "unrestricted economy," they mean an economy with unhampered contest and just confidential exchanges among purchasers and dealers. Nonetheless, a more comprehensive definition ought to incorporate any intentional financial action inasmuch as it isn't constrained by coercive focal specialists
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How must a replacing producer response to an applicant wishing to replace existing life insurance?
The producer must provide notice regarding the replacement of life insurance.
A life insurance policy is a contract between a policyholder and an insurance company or insurance company, in which the insurance company promises to pay an amount to a specified beneficiary upon the death of the insured. Depending on the contract, other events B. Terminal or critical illness trigger payment
Life insurance is a contract between a policyholder and an insurance company, and can be defined as a promise by the insurer to pay a certain amount of money in exchange for a premium upon the death of the insured or after a certain period of time. .
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negative impact of the coronavirus as one of the socioeconomic issues on businesses
Answer:
yes for sure, vivid 19 messed up alot of business
Workplace diversity describes differences among workers in any of the following areas:
attitude
education
ethnicity
industry
Answer:
industry because here based the all the business in whole world
The result of good modelling of the real-world usually leads to good information systems being built. Good models help us to understand and predict how certain business systems work and to frame questions about the real-world system allowing us to determine how well it is meeting our goals. Businesses are usually primarily involved in the processing of transactions because the business is trying to accomplish some goal. One approach is to think about events following this three-step approach:
a. Identify the goals that a business must accomplish.
b. Identify the processes that must be undertaken to accomplish each goal.
h process, identify the events of interest.
One approach to understanding and processing business transactions involves a three-step approach:
1. Identify events: Start by identifying the key events or activities that occur within the business process. These events can include actions such as customer purchases, inventory updates, employee transactions, or financial transactions.
2. Analyze events: Once the events are identified, analyze them to understand their underlying processes, inputs, outputs, and dependencies. This analysis helps in understanding how different events are interconnected and how they contribute to achieving the business goals.
3. Design information systems: Based on the analysis of events, design information systems that effectively capture, process, and store the data related to these events. This involves determining the necessary data fields, establishing data relationships, and designing workflows that align with the business goals.
Good modeling of the real-world helps businesses in several ways:
1. Understanding and prediction: Models allow businesses to gain insights into how their systems work and predict the outcomes of various scenarios. By accurately representing the real-world processes and interactions, models help in understanding the cause-and-effect relationships and identifying areas for improvement.
2. Goal alignment: Models help businesses frame questions about their real-world systems, enabling them to assess how well the systems are meeting their goals. By analyzing the modeled data, businesses can identify inefficiencies, bottlenecks, and areas where adjustments are needed to achieve their desired outcomes.
3. System optimization: Models provide a platform for testing different strategies and making informed decisions to optimize business processes. By simulating and experimenting with different scenarios, businesses can identify the most efficient ways to allocate resources, streamline operations, and improve overall performance.
In summary, good modeling of the real-world enables businesses to build effective information systems and gain a deeper understanding of their processes. By following a three-step approach of identifying events, analyzing them, and designing information systems, businesses can align their operations with their goals, optimize their systems, and make informed decisions to drive success.
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Currently, you work in New York where you make $45,000/year. You get an offer to work in Los Angeles for $40,000? CPI in New York = 300; CPI in Los Angeles = 240. If your decision depends strictly on salary, should you accept the Los Angeles offer? Why?
The increase in salary may seem attractive at first, but it would not be enough to offset the increase in living expenses, thereby reducing the employee's overall purchasing power.
To solve this problem, we have to first calculate the cost of living adjustment that the employee would require if they move from New York to Los Angeles. The cost of living index (CPI) in New York is 300, while the CPI in Los Angeles is 240. This means that the cost of living in Los Angeles is 20% lower than the cost of living in New York. Therefore, the employee would need to be paid a salary of $56,250 in Los Angeles to maintain the same standard of living as they currently have in New York (i.e., $45,000 / (1 - 0.20)
= $56,250).Since the offer in Los Angeles is for $40,000, it is not sufficient to maintain the same standard of living as in New York. Therefore, if the decision depends strictly on salary, the employee should not accept the Los Angeles offer. The cost of living adjustment is necessary to maintain a comparable standard of living in Los Angeles, which would be more expensive than in New York. The increase in salary may seem attractive at first, but it would not be enough to offset the increase in living expenses, thereby reducing the employee's overall purchasing power.
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inventory turnover and weeks of supply are mathematically the inverse of one another.
a. True
b. False
The statement that inventory turnover and weeks of supply are mathematically the inverse of one another is true. Inventory turnover is a measure of how often a company sells and replaces its inventory in a given period, while weeks of supply indicate the number of weeks of inventory a company has on hand.
Inventory turnover is calculated by dividing the cost of goods sold by the average inventory level, while weeks of supply are calculated by dividing the inventory level by the average weekly sales. These two measures provide different perspectives on a company's inventory management.
If a company has a high inventory turnover, it means that it is selling its inventory quickly and efficiently. In contrast, a high weeks of supply ratio indicates that a company is holding onto too much inventory and may be at risk of overstocking.
Since inventory turnover and weeks of supply are mathematically inversely related, a higher inventory turnover ratio would correspond to a lower weeks of supply ratio, and vice versa.
The statement "inventory turnover and weeks of supply are mathematically the inverse of one another" is True (a).
Inventory turnover is a measure of how many times a company sells and replaces its inventory during a specific time period, usually a year. It is calculated by dividing the cost of goods sold (COGS) by the average inventory value. A higher inventory turnover indicates better efficiency in managing and selling inventory.
Weeks of supply, on the other hand, is a measure of how long a company's inventory will last at the current sales rate. It is calculated by dividing the average inventory value by the cost of goods sold (COGS) and then multiplying the result by the number of weeks in the time period (usually 52 weeks for a year).
Since inventory turnover is calculated by dividing COGS by the average inventory, and weeks of supply is calculated by dividing the average inventory by COGS and then multiplying by the number of weeks, the two metrics are mathematically the inverse of each other. This relationship helps businesses to monitor their inventory management efficiency and make necessary adjustments to optimize sales and reduce costs.
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if the present value of the interest to be paid on a $1,000 face value bond is $320, and the present value of the face value to be paid at maturity is $900, the total value of the bond must equal:
The total value of the bond must equal the sum of the present value of the interest payments and the present value of the face value. In this case, the total value of the bond is $1,220 ($320 + $900).
The value of a bond is determined by the present value of its future cash flows. In this scenario, we are given the present value of the interest payments, which is $320, and the present value of the face value at maturity, which is $900.
The present value of the interest payments represents the current worth of the interest payments that will be received over the bond's lifetime. Similarly, the present value of the face value reflects the current worth of the principal amount that will be repaid at maturity.
To calculate the total value of the bond, we add the present value of the interest payments and the present value of the face value:
Total value of the bond = Present value of interest payments + Present value of face value
Total value of the bond = $320 + $900
Total value of the bond = $1,220
Therefore, the total value of the bond must equal $1,220.
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______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
Part II: Elastic or Inelastic?
Instructions: Determine whether the demand for the following items is price clastic or inelastic,
Write your answer on the line after the item. Then write the reasons for your answer.
A. Salt
Why?
B. New cars
Why?
C. Pork chops
Why?
D. European vacation
Why?
E. Insulin
Why?
F. Insulin at one of four drug
stores in a shopping mall
Why?
G. Gasoline purchased one day
after a 20 percent price increase
Why?
I
HL Gasoline purchased one year
after a 20 percent price increase
Why?
a. The demand for salt is price inelastic. This is because salt is considered a necessity in making meals.
b. The demand for new cars is price elastic. This is because there are many substitutes for new cars. For example, the bus is a substitute for a new car.
c. The demand for pork chops is price elastic. This is because there are many other types of foods that can be consumed instead of pork chops.
d. The demand for European vacation is price elastic. This is because vacations are not a necessity; they are a luxury.
e. The demand for Insulin is price inelastic. This is because insulin is very important to a diabetic patient
f. The demand for Insulin at one of four drug stores in a shopping mall is price inelastic. This is because consumers have choices between the four drug stores in the mall
g. The demand for gasoline purchased one day after a 20 percent price increase is price inelastic. This is because in the short run, consumers do not have enough time to search for suitable substitutes, so demand would be inelastic
h. The demand for gasoline purchased one year after a 20 percent price increase is price elastic. This is because in the long run, consumers would have enough time to find suitable substitutes.
Demand is price elastic if the quantity demanded of a good is sensitive to small changes in the price of the good
Demand is considered inelastic if the quantity demanded of a good is less sensitive to changes in the price of a good.
Factors that affect the price elasticity of demand
Time frame: demand is inelastic in the short run because consumers would not have enough time to find cheaper substitutes. In the long run, demand is elastic because consumers would have enough time to search for substitutes. Number of close substitutes : If there are many substitutes for a good, the demand for the good would be elastic. If there are no close substitutes, the demand for the good would be inelastic Nature of the good: if the good is considered a necessity, the demand for the good would be inelastic and if the good is considered a luxury, the demand for the good would be inelastic.To learn more about elasticity of demand, please check: https://brainly.com/question/14897348?referrer=searchResults
Identify the type of business.
Exporting
does not require setting up any manufacturing plant in the nations the products are marketed. It involves producing goods locally.
General and legal and political environment
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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https://brainly.com/question/14297698#SPJ9The woods co. and the mickelson co. have both announced ipos at $43 per share. one of these is undervalued by $20, and the over is overvalued by $14, but you have no way of knowing which is which. you plan on buying 1,000 shares of each issue. if an issue is underpriced, it will be rationed, and only half your order will be filled. what is the amount of the difference between your expected profit and the amount of profit you could earn if you could get 1,000 shares of woods and 1,000 shares of mickelson?
To calculate the difference between your expected profit and the potential profit if you could acquire 1,000 shares of Woods Co. and 1,000 shares of Mickelson Co., we need to consider the scenario where each company is either undervalued or overvalued.
Let's analyze the two possibilities:
Woods Co. is undervalued, and Mickelson Co. is overvalued:
In this case, you would be able to acquire 500 shares of Woods Co. (half of your order) at the IPO price of $43 per share. Since Woods Co. is undervalued by $20, you can expect its price to increase by $20 per share. Therefore, your profit per share would be $20.
For Mickelson Co., you would not be able to acquire any shares due to rationing. Hence, your profit from Mickelson Co. would be zero.
Total profit = (Profit per share from Woods Co. x Number of Woods Co. shares) + (Profit per share from Mickelson Co. x Number of Mickelson Co. shares)
Total profit = ($20 x 500) + ($0 x 0)
Mickelson Co. is undervalued, and Woods Co. is overvalued:
In this case, you would be able to acquire 500 shares of Mickelson Co. (half of your order) at the IPO price of $43 per share. Since Mickelson Co. is undervalued by $20, you can expect its price to increase by $20 per share. Therefore, your profit per share would be $20.
For Woods Co., you would not be able to acquire any shares due to rationing. Hence, your profit from Woods Co. would be zero.
Total profit = (Profit per share from Mickelson Co. x Number of Mickelson Co. shares) + (Profit per share from Woods Co. x Number of Woods Co. shares)
Total profit = ($20 x 500) + ($0 x 0)
To calculate the difference between your expected profit and the potential profit, we subtract the total profit in the second scenario from the total profit in the first scenario:
Difference = Total profit (Scenario 1) - Total profit (Scenario 2)
Difference = [(Profit per share from Woods Co. x Number of Woods Co. shares) + (Profit per share from Mickelson Co. x Number of Mickelson Co. shares)] - [(Profit per share from Mickelson Co. x Number of Mickelson Co. shares) + (Profit per share from Woods Co. x Number of Woods Co. shares)]
Since both scenarios result in zero profit from one of the companies, the difference would be zero.
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How does an entrepreneur demonstrate comfort with risk when launching a business?
Answer: There are five kinds of risk that entrepreneurs take as they begin starting their business. Those risks are: founder risk, product risk, market risk, competition risk, and sales execution risk. Founder risk considers who the founders of the company are, if they get along, and how they will work for the company.
Hope this helps......... Stay safe and have a Merry Christmas!!!!!!!! :D
Explanation:
What is meant by 'business plan'?
A business plan is a written document that describes in great detail the goals and objectives of a company.
A business plan outlines a written strategy for the company's operations, finances, and marketing. Both new and established businesses use business plans.
It is a crucial document intended for both internal and external audiences of a company. Generally, it is not a good idea to operate without a business plan. In reality, very few companies can function without one for an extended period.
A business plan can also help a company's executive team stay on the same page concerning strategic action items and on track to achieve set objectives.
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a board of directors is best when its members are not ______ the ceo. admired by recruited by dissolved by independent from
A board of directors is best when its members are are not dependent from the CEO.
The primary role of a board of directors is to provide oversight and guidance to the CEO and ensure that the company is being run in the best interests of its stakeholders.
When the board members are recruited by the CEO or admire the CEO too much, it can create conflicts of interest and hinder their ability to provide objective oversight.
On the other hand, when the board members are independent from the CEO, they can provide unbiased advice and ensure that the CEO is held accountable for their actions. Therefore, having an independent board of directors is crucial for the long-term success of a company.
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13. A rise in the price level has an effect on spending because: (a) People like to spend more when prices are higher. (b) The real value of the money people have varies directly with the price level. (c) The real value of the money people have decreases, and they can buy less with it. (d) A higher price gives people more money, and so the more goods and services they buy.
A rise in the price level has an effect on spending because the real value of the money people have decreased, and they can buy less with it. (Option C)
A rise in the price level, also known as inflation, affects spending because it diminishes the purchasing power of money. Option (c) correctly states that the real value of the money people have decreased, meaning that the same amount of money can buy fewer goods and services. When prices increase, individuals need to spend more money to maintain their previous level of consumption. As a result, their ability to purchase goods and services is reduced. This decrease in purchasing power can lead to a decrease in overall spending as individuals may need to prioritize their purchases or cut back on discretionary expenses. Therefore, option (c) accurately describes the impact of a rise in the price level on spending.
In conclusion, a rise in the price level leads to a decrease in the real value of money, resulting in individuals being able to buy fewer goods and services. This reduction in purchasing power affects spending patterns as people need to allocate more money to maintain their previous level of consumption. Therefore, the correct answer is option (c), which states that the real value of money decreases and individuals can buy less with it. Understanding the relationship between price level and spending is crucial for analyzing the effects of inflation and its impact on the economy.
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John is watching television in his sixth-floor apartment. He pours himself a glass of soda from a half full bottle. He then threw the empty glass bottle out of his window as he is too lazy to get up and dispose of the bottle properly. John believes that it is safe to do so as the window faces the back lane and very few people pass through especially in the morning. However, the bottle hit Bob, another resident who lives two floors below. At that time, Bob is leaning out of his window to water his flowers which are planted along the outer ledge of the window. Bob suffers serious injury and wishes to sue John. Discuss whether Bob would be successful in his claim.
In a situation where Bob suffered a serious injury due to the bottle thrown by John out of his window, Bob may potentially have grounds to sue John based on the principles of negligence.
To determine if John's actions constitute negligence, courts often consider the following elements:
Duty of care: Did John owe a duty of care to others, including Bob? Generally, individuals have a duty to act reasonably and avoid behaviors that may harm others.
Breach of duty: Did John breach his duty of care by throwing the bottle out of the window? If throwing objects out of a window is considered negligent or dangerous behavior in the specific jurisdiction, John's actions might be deemed a breach of duty.
Causation: Did John's breach of duty directly cause Bob's injuries? If the bottle thrown by John is found to be the cause of Bob's injuries, a causal link may be established.
Damages: Has Bob suffered actual harm or damages as a result of the incident? If Bob can demonstrate that he suffered serious injuries and incurred damages (medical expenses, pain and suffering, etc.), it may strengthen his case.
It's important to note that the specific laws and legal standards in the jurisdiction where the incident occurred will determine the outcome.
Additionally, there may be specific regulations or local ordinances relating to the disposal of objects from windows or balconies that could impact the case.
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A country produces 3000 new capital goods in a week. 500 of those replace worn out capital goods. what is the net investment made?
A country produces 3000 new capital goods in a week. 500 of those replace worn out capital goods. The net investment made is 2500.
An asset or object acquired with the intention of creating income or recognition is referred to as an investment. A purchase of goods that are not consumed right away but will be utilized to create wealth down the road is referred to as an investment in an economic outlook.
A company makes a capital investment when it buys tangible assets to utilize in achieving its long-term goals and objectives. Among the assets that are bought as capital investments are real estate, factories, and equipment.
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Niki makes the same payment every two months to pay off his $61,600 loan. The loan has an interest rate of 9. 84%, compounded every two months. If Niki pays off his loan after exactly eleven years, how much interest will he have paid in total? Round all dollar values to the nearest cent. A. $39,695. 48 b. $10,294. 26 c. $3,126. 29 d. $39,467. 12.
The total amount of interest paid by Niki is $39,695.48.
The loan is termed as the amount that is borrowed by the lender and is paid off back at some defined amount of interest.
Computation of amount of interest to be paid by Niki:
The given information is:
P is the periodic payment.
PV = $61,600
r = 0.0984
t = 6
n = 11 years
\(\begin{aligned}PV = \frac{P(1 - (1 +\frac{r}{t}^{nt}))}{\frac{r}{t}}\end{aligned}\)
\(\begin{aligned}61600 =\frac{P(1 - (1 +\frac{0.0984}{6}^{11\times6})}{\frac{0.0984}{6}}\end{aligned}\)
\(\begin{aligned}61600 =\frac{P(1 - (1 + 0.0164)^{66} )}{ 0.0164}\end{aligned}\)
\(61600\times0.0164 = P(1 - (1.0164)^{66} )\)
\(\begin{aligned}1010.24&=p\times(1-0.341769)\\1010.24&=0.658321\times p\\p&=\frac{1010.24}{0.658321}\\p&=1534.78\end{aligned}\)
Niki pays $1534.78 every two months continuously for eleven years.
\(\begin{aligned}\text{The total payment made by Niki} &= \text{Tenure Period} \times 6 \times \text{Amount of interest}\\\text{The total payment made by Niki}&=11\times6\times\$1534.78\\\text{The total payment made by Niki}&= \$101295.48\end{aligned}\)
\(\text{Interest paid} = \text{Total Payment} - PV\\\text{Interest paid} = 101295.48-61600\\\text{Interest paid} =\$39,695.48\)
Therefore, the correct option is A.
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At the close of a business presentation,
A. The audience tends to reach it's lowest point.
B. You should clearly indicate that you're about to finish.
C. You should avoid making it obvious that you're about to finish.
D. Audiences resent being reminded of the presentations main ideas
Answer:
B. You should clearly indicate that you're about to finish.
Explanation:
Business presentation is the method whereby a person with a business idea present to a group of people his plans and ideas he or she has in a given business setup. Most times, the aim was to solicit for fund to bring the business into fruitfulness or the fund for expansion etc.
At the close of an giving business presentation, the presenter should indicate that he or she is about to finish by stating the main point of the presentation in summary.
Which trim level is available exclusively for customers who participate in the 2023 ariya reservation program?.
Customers that take part in the reservation program are the only ones who can participate in the Ariya Premiere front-wheel drive.
What is the Ariya reservation program?The reservation program is run by Nissan's advertising department. Only customers that take part in the reservation program will be able to participate in the Ariya Premiere, which is available in front-wheel drive.
Therefore, The trim level is available exclusively for customers, is the Ariya Premiere front-wheel drive.
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What is the difference between the income consumption curve and the engel curve?.
Both Engel's law and the income consumption curve reflect the relationship between income and consumption.
The differences between these two concepts are explained below:Difference between income consumption curve and Engel curve, The Income Consumption Curve is a graph that shows how changes in a consumer's income will affect their budget line. It is used to show the relationship between changes in income and changes in consumption patterns, holding the price of goods constant.
Income Consumption Curve-
Engel's Curve is a graph that shows how a consumer's consumption of a particular commodity changes as their income changes. Engel's law states that as income increases, the proportion of income spent on food decreases, whereas the proportion spent on other commodities increases.
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Which of the following will cause a decrease in consumer surplus? a. an increase in the number of sellers of the good b. a decrease in the production cost of the good c. sellers expect the price of the good to be lower next month d. the imposition of a binding price floor in the market
A binding price floor imposed in the market will cause a decrease in consumer surplus. The correct answer is option- d.
Consumer surplus is the difference between the highest price a consumer is ready to pay for a good or service and the real market price that they have to pay for it. In essence, it reflects the benefit or value that consumers receive from purchasing a good or service at a price that is less than the maximum price they were prepared to pay.
The imposition of a binding price floor in the market will cause a decrease in consumer surplus. This is because it forces the price of the good to be above the equilibrium price, making the good more expensive for consumers to purchase. As a result, consumers will purchase less of the good, reducing consumer surplus.
Therefore, the correct answer is option- d.
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centrifuge is a device used to separate solid components .true or false
Answer: True
Explanation: Hope This Helps :)
Create a job application including a cover letter and a resume. Make certain you have included your work and volunteer experience, education, and "selling points." Compare your resume to the job descriptions and respond to each of the questions asked. This should be a one- to two-page response thoroughly examining each question—this will prepare you for when you do apply for a job (if you have not already).
After reviewing the functions of human resource management identified early in the lesson, answer the following questions:
Identify the person from human resources whom you might engage. If it’s a small business, who do you think would be your contact?
Assume you were hired. What would human resources do for you as an employee? Discuss what benefits HR would offer and how, you believe, this would happen if you were to be employed in this position.
In a cover letter, you introduce yourself to potential employers and request that they consider your application. The letter is brief, often 3 to 5 paragraphs long.
What is Management?Management is the art of getting things done through and with the people in formally organized groups.
An efficient resume summary uses the following structure: Professional title (if applicable) with significant work history, plus top accomplishments (preferably measurable results) + Top Knowledge, Experience, and Values (relevant to the job and industry)
Reduce the length of cover letters to three to four paragraphs, not exceeding one page. Use an active voice while maintaining a confident, commercial enterprise-like tone. Don't start too many phrases with "I." Check for repetition and errors by reading your cover letter out loud.
Therefore, This is how you can create a job application including a cover letter and a resume.
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Which of the following statements explains why marketers use emotional appeals?
Multiple Choice
The positive feelings created by advertising can have a favorable effect on consumers' evaluations of a brand.
Correct
Emotional appeals focus on the consumer's practical, functional, or utilitarian need for a product or service.
Emotional appeals tend to be informative, and help advertisers convince consumers that their product or service satisfies their needs.
Emotional appeals persuade the target audience to buy the brand because it is the best available.
Emotional appeals are easy to execute and cost less, even though they are less effective than rational appeals.
The following statement explains why marketers use emotional appeals:The positive feelings created by advertising can have a favorable effect on consumers' evaluations of a brand.Emotional appeals are used by marketers as a method to evoke an emotional.
Response from the consumers in order to establish an emotional link between the consumer and the brand. These emotional appeals are used to create a positive image of the brand by focusing on the positive feelings, attitudes, and desires of the consumers.Emotional appeals are based on the premise that people make decisions based on their emotions rather than their rational thinking.
As a result, marketers use emotional appeals to persuade customers to buy their goods or services. The emotional appeal focuses on the way consumers feel and their experience with the product or service rather than on the product's attributes.
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