Policies to deal with these problems have consequences for society and have an impact on how efficiently markets operate.
Is a job in economics rewarding?Yes, a career as an economist is rewarding. Regardless of the particular field they may work in, someone with a degree in economics will discover that they are marketable in numerous domains. Graduates with economics expertise are in high demand in the worldwide work market.
Do economists get substantial salaries?Yes, most economists do make a great deal of money. Although there are several jobs with varied pay scales, most economists earn at least $100,000 annually. Economic analysis is used to address a variety of challenges by economists who research the production and dissemination economic resources, products, and services.
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Question 3 (30 marks) BBB Sdn. Bhd. is a manufacturing based industry that plan to utilize the company resources efficiently to maximize the profit gain. The company also needs to cope with the current budget constraint, you as an operation manager are required to handle this situation. Based on the concept of value chain and lean approach, give your view to match the supply to demand as effectively and efficiently as possible at various stages:
a) procurement, (5 marks) b) choosing vendors, (5 marks) c) freight carriers, (5 marks) d) warehouse solution, (5 marks) e) inventory storage and handling, (5 marks) f) distribution. (5 marks)
a) Procurement: To match supply to demand effectively and efficiently in the procurement stage, BBB Sdn. Bhd. can adopt the following strategies:
Supplier Relationship Management: Establish strong relationships with suppliers to ensure timely and reliable delivery of raw materials and components. Collaborate closely with suppliers to understand demand patterns, forecast requirements accurately, and negotiate favorable terms and prices.
Just-in-Time (JIT) Procurement: Implement a JIT procurement approach to minimize inventory holding costs and reduce waste. Order raw materials and components only when they are needed, based on demand forecasts and production schedules.
Supplier Evaluation and Selection: Conduct thorough evaluations of potential suppliers based on criteria such as quality, reliability, pricing, and responsiveness. Choose suppliers who align with BBB's objectives and can consistently meet demand requirements.
b) Choosing Vendors: To effectively match supply to demand in vendor selection, BBB can consider the following factors:
Capacity and Flexibility: Choose vendors who have the capacity and flexibility to handle BBB's demand fluctuations and changing requirements. Vendors should be able to scale production up or down as needed.
Quality Assurance: Select vendors with a proven track record of delivering high-quality products and services. Conduct regular quality audits to ensure compliance with BBB's standards.
Cost and Value: Evaluate vendors based on their pricing structure and the value they provide. Consider factors such as product quality, delivery reliability, customer service, and any additional value-added services.
c) Freight Carriers: To efficiently match supply to demand in freight transportation, BBB can consider the following approaches:
Carrier Selection and Negotiation: Choose reliable freight carriers with a wide network, efficient operations, and a track record of on-time deliveries. Negotiate favorable pricing and service terms based on BBB's volume and frequency requirements.
Transportation Planning and Optimization: Optimize freight transportation through effective route planning, load consolidation, and mode selection. Utilize technology and logistics software to optimize routes, reduce transportation costs, and minimize delivery lead times.
d) Warehouse Solution: To match supply to demand efficiently in warehousing, BBB can consider the following:
Warehouse Layout and Design: Optimize the warehouse layout to facilitate smooth material flow and efficient order processing. Use automation and technology to improve picking, packing, and inventory management processes.
Cross-Docking: Implement cross-docking techniques to minimize inventory holding times and streamline order fulfillment. This involves transferring products directly from inbound shipments to outbound shipments, reducing storage requirements.
e) Inventory Storage and Handling: To effectively match supply to demand in inventory storage and handling, BBB can focus on:
Demand Forecasting: Accurately forecast demand to optimize inventory levels and prevent stockouts or overstocking. Utilize historical data, market trends, and customer insights to refine demand forecasts.
Inventory Control and Management: Implement inventory control techniques such as ABC analysis, just-in-time inventory, and safety stock management. Regularly monitor inventory levels, minimize carrying costs, and prevent stock obsolescence.
f) Distribution: To match supply to demand effectively in the distribution stage, BBB can consider:
Route Optimization: Optimize distribution routes to minimize transportation costs and delivery lead times. Utilize route planning software and real-time tracking to ensure efficient and timely deliveries.
Customer Segmentation: Analyze customer demand patterns and segment customers based on their specific requirements. Tailor distribution strategies to meet different customer needs, such as same-day delivery for urgent orders or scheduled deliveries for regular customers.
Collaboration and Partnerships: Explore collaborations with third-party logistics providers or distributors to enhance distribution capabilities and reach new markets. Leverage their expertise and infrastructure to improve distribution efficiency.
By implementing these strategies at each stage of the value chain, BBB Sdn. Bhd. can enhance its supply-demand matching, improve operational efficiency, and maximize profitability within the budget constraints.
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If a 10% increase in price leads to a 40% decrease in quantity demanded, what is the value of price elasticity of demand? Show your work.
The value of price elasticity of demand is -4, which means that the demand for the product is highly elastic.
Price Elasticity of Demand = (% Change in Quantity Demanded) / (% Change in Price)
Using the information provided, we can calculate the percentage change in quantity demanded:
40% decrease in quantity demanded = (New Quantity Demanded - Old Quantity Demanded) / Old Quantity Demanded
-40 = (New Quantity Demanded - Old Quantity Demanded) / Old Quantity Demanded
Solving for New Quantity Demanded:
New Quantity Demanded = Old Quantity Demanded * (1 - 40%)
New Quantity Demanded = Old Quantity Demanded * 0.6
Now, we can calculate the percentage change in price:
10% increase in price = (New Price - Old Price) / Old Price
0.1 = (New Price - Old Price) / Old Price
Solving for New Price:
New Price = Old Price * (1 + 0.1)
New Price = Old Price * 1.1
Price Elasticity of Demand = (% Change in Quantity Demanded) / (% Change in Price)
Price Elasticity of Demand = (-40%) / (10%)
Price Elasticity of Demand = -4
The value of price elasticity of demand is -4, which means that the demand for the product is highly elastic. A small change in price results in a significant change in quantity demanded. In this case, a 10% increase in price leads to a 40% decrease in quantity demanded, indicating that consumers are very sensitive to changes in price.
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which of the following describes intellectual property?responsesthings that are created in the mind and not necessarily able to be seen or touchedthings that are created in the mind and not necessarily able to be seen or touchedinventions or discoveries that have significant educational or scientific valueinventions or discoveries that have significant educational or scientific valueconcepts that are too abstract to be copyrighted or trademarked in any wayconcepts that are too abstract to be copyrighted or trademarked in any wayany kind of work or creation that was developed at a college or university
Intellectual property describes things that are created in the mind and not necessarily able to be seen or touched. Intellectual property (IP) refers to the rights that are awarded to creators and inventors for their original work and inventions that are products of their intellect or mind.
The intellectual property refers to creations of the mind such as inventions, literary and artistic works, symbols, images, designs and names used in commerce.
Examples of intellectual property include trademarks, patents, copyrights and trade secrets.
The owner of intellectual property has exclusive rights to control its use. This includes the right to prevent others from using or exploiting the intellectual property without permission or authorization.
The purpose of IP laws is to encourage innovation and creativity by granting creators and inventors certain legal rights to their creations and inventions.
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It's time to think like a manager. Corporate social responsibility is wonderful, though often criticized as purely rhetorical and laden with subtle profit goals. How can a manger emphasize genuineness of corporate social responsibilities and activities in society?
The correct answer to this open question is the following.
It's time to think like a manager. And more importantly, it is time to act like a manager and became a true leader.
Corporate social responsibility is wonderful, though often criticized as purely rhetorical and laden with subtle profit goals. That is why is so important that a manager could emphasize genuinely that corporate social responsibilities are a priority for the organization.
One good way to prove that and stop critics is to establish a series of programs and actions that benefit the environment and the community and that could be evaluated by the members of the society.
This includes mass media. Yes, the company has to open its doors and be willing and able to show the results of these programs. If the company has nothing to hide, it will have no problem to show its work and be proud of the monetary results as well as the social responsibility results that benefit the community.
Which of these is an example of an entrepreneur?
A. Jesse has the idea for a new phone app, so he spends his money
to set up a business.
B. Olivia is part of a team that develops new products for a well established company.
C. Cleo joins her friend's new business to help with managing
finances.
D. Vince has been promoted to manager because he knows his
industry very well.
Answer: A.Jesse has the idea for a new phone app, so he spends his money
Explanation: Took the test
Jesse has the idea for a new phone app, so he spends his money to set up a business of these is an example of an entrepreneur. Thus, option (a) is correct.
What is entrepreneur?The term entrepreneur refers to the person who launched a new business with own risk and profit basis. The setup of new business with new idea and logic is called entrepreneurship. The entrepreneur is the main motive to set up business to generate employment. The entrepreneur is work new idea as called startup company.
Entrepreneur was the important role in each country. An entrepreneur is the spends his money to the set-up of the money. It was the perfect example is the Jesse has the idea for a new phone app, so he spends his money to set up a business.
As a result, the conclusion of the entrepreneur example are the aforementioned. Therefore, option (a) is correct.
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Using the pie chart in your reading, what percentage of our total tax dollars is used by the federal gov. to fund the social security and Medicare programs?
Answer: 38%
The percentage spent on Social Security and Medicare of the total is = 28.32% of the Total Spending.
The total amount of funds used by the Federal Government for social security and Medicare in the year 2020 is $1.869 Trillion.
The total Medicare and Social Security spending:
Medicare ($ 769,000,000,000) + Social Security ($ 1,100,000,000,000) =
Total ($ 1,869,000,000,000) or $1.869 Trillion
The percentage of the Medicare and Social Security spending as a percentage of the total spend:
The Total Spend = $6.6 Trillion (or $6,600,000,000,000)
The percentage spent on Social Security and Medicare of the total is:
Formula = (Value / Total) x 100%
= ($1.869 Trilion/$6.6 Trillion) x 100%
= ($ 1,869,000,000,000/$6,600,000,000,000) x 100%
= 0.28318181818 X 100%
= 28.32%
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The net increase (decrease) in cash reported on the statement of cash flows should reconcile the beginning and ending cash balances reported in the comparative balance sheets. True False
Answer:
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Explanation:
Eeeeeereeeeereerreeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee33eeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee3eeeeeeeeeeeeeeeeeeeeeee3eeee
When a profit-maximizing firm is earning profits, those profits can be identified by?.
Profits generated by a business that seeks to maximize its profits can be found by (P - ATC) x Q.
If a business that seeks to maximize profits is successful What could help you pinpoint those profits?Profit is the sum of total revenue less total cost at any given quantity. The amount at which total revenue exceeds total cost by the greatest margin can be used to determine the most profitable production quantity.
What occurs when a company is trying to maximize its profit?Profit maximization entails maximizing profits by employing a sound strategy that balances marginal revenue and marginal cost for business organizations. Numerous economic theories have this theory as their foundation. It exists in markets with perfect competition and monopolies.
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what can be achieved through career exploration?
Answer:
Career exploration improves students' knowledge of career options, encouraging them to develop and work toward goals during the critical years when they are also beginning to venture beyond the orbit of their parents.
Explanation:
1) The skills and knowledge a person has acquired through experience and/or
education.
O Human Capital
O Entrepreneurial talents
O Physical Capital
O Perfect competition
Answer:
O Human Capital
Explanation:
Human capital is an employee's knowledge, skills, and competencies that a company uses in productivity. It is the attributes of labor that impact production and influence compensation. Human capital is enhanced through education, job training, work experiences, and research.
Human capital is compensated through wages and salaries. Its cost is monetized as labor and is one of the factors of production.
April has joined a team with members from the sales, customer service, and
shipping and receiving departments. Which term best describes the team
April joined?
O A. Cross-functional team
B. Problem-solving team
O C. Self-managing team
D. Work team
Answer:cross-functional team
Explanation:
higher level profession requires in the knowledge good skills and a special training explain this statement with example
PLZZ make uhr on answer
Answer:
true
Explanation
Higher level professions are professions occupied by professionals who think strategically and carry out their duties by adhering to the ethical standards that governs their profession. Examples are medical practitioners, engineering, accountant and pilot. All these requires in-depth knowledge , good skill and special training because of the technical nature of the profession.
Having a degree is not enough to deliver on these professions because of their complexities. These professionals must adhere to the ethical standard that governs their profession and also hold themselves out of having the required training, knowledge and experience .
Take for instance a pilot who controls a plane. Asides having the required education, he would undergo special trainings on how to fly planes. He must also have the skills and experience of flying before being certified to fly people because of the risky nature of the profession.
The above example also applies to a doctor. He would undergo trainings depending on his area of specialization and must have knowledge before being certified to work as a doctor. The reason is that he is dealing with lives hence must possess the the required skills and experience
nal Accounts Section Sales Cost of sales Rent income Interest on fixed deposit Directors' fees Salaries and wages Bad debts Audit fees Bank (ts) Advertising Consumable stores A. Sundry expenses Ordinary share dividends ADJUSTMENTS AND ADDITIONAL INFORMATION: 750 000 15 450 000 1 230 000 1315 150 24 000 147 600 975 000 80 800 560 000 368 20 Selling prices are determined by using a mark-up of 40% on cost Note: Trade discounts of R130 000 were allowed to special customers the financial year. in me paffo Sales. How are sales calculated
The overall sales for the fiscal year are 21,500,000, according to the information provided.
What is the fiscal year?A fiscal year is a 12-month period used by businesses and governments for financial reporting and budgeting purposes. It does not necessarily coincide with the calendar year and can start on any date. The fiscal year is used to report financial results and tax obligations to the government, and it is important to follow it accurately to ensure that all financial reporting is consistent and accurate.
Based on the information provided, the total sales can be calculated as follows:
The total cost of sales = 15,450,000
Markup on cost = 40%
Total markup = 40% of 15,450,000
= 6,180,000
The total cost of goods sold (COGS) = Total cost of sales + Total markup
= 15,450,000 + 6,180,000
= 21,630,000
To calculate the total sales, we need to subtract any discounts given to customers from the COGS:
Total sales = Total cost of goods sold - Trade discounts
= 21,630,000 - 130,000
= 21,500,000
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How responsible should sport/event organizations, celebrities, and athletes be for keeping their various publics happy? We know that good publicity boosts goodwill and profits. But, should individuals have to keep their personal beliefs private so they won’t offend anyone? For example, some musicians may highlight their political views on stage at their concerts. Or, an athlete may make comments in an interview that could offend certain groups. Perhaps he’s an avid hunter, a hobby that some animal rights activists would certainly not support. What do you think? Where should celebrities and athletes draw the line between building fan support and being true to themselves?
Answer:
I dont really know
Explanation:
How to calculate momentum?
Answer:
p=mv
Explanation:
the formula for momentum is
p=mv
Answer:
By multiplying mass and velocity
Explanation:
The amount of accounts receivable shown on the pro forma balance sheet is typically drawn from the
a. cash budget
b, inventory purchases budget
c. selling and adminisrative expense budget
d. sales budget
The amount of accounts receivable shown on the pro forma balance sheet is typically drawn from the option d. i.e. Sales budget.
A balance sheet is a financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time. Accounts receivable is an asset representing the amounts owed to a business by its customers for goods or services provided on credit.
In order to determine the amount of accounts receivable shown on the pro forma balance sheet, you need to refer to the sales budget. The sales budget is a financial projection that outlines the anticipated sales revenues and credit terms for a specific period. This budget is used to estimate the amount of cash inflows and credit sales, which directly impacts the accounts receivable.
1. Review the sales budget to identify the total credit sales for the period.
2. Determine the company's credit terms and the percentage of sales made on credit.
3. Calculate the accounts receivable balance by multiplying the total credit sales by the percentage of sales made on credit.
4. Include the calculated accounts receivable balance in the pro forma balance sheet as an asset.
By following these steps, you can accurately estimate the amount of accounts receivable shown on the pro forma balance sheet using the sales budget as your primary source of information.
Therefore, option D is the right answer.
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the current market value of a previously purchased machine proposed for use in a project is an example of
The current market value of a previously purchased machine proposed for use in a project is an example of Opportunity cost.
Truly positioned, a project is a series of obligations that want to be completed to reach a particular outcome. A mission also can be defined as a fixed of inputs and outputs required to reap a particular goal. tasks can range from simple to complicated and may be managed by way of one person or a hundred.
An undertaking is a transient project to supply a new and particular deliverable. A deliverable will be a tangible product, a service or achievement of a required final results. stakeholdermap.com. one of the nice ways to differentiate a project from say operations or commercial enterprise as traditional is to search for a clear start and give up.
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Which production factor involves the use of plant and equipment?
a. natural resources
b. capital
c. labor
d. management
b. Using machinery and equipment is a part of the capital production component.
Why is capital formation crucial?When economists talk about capital, they're talking about the tangible tools, buildings, and machinery that enable higher job productivity. One of the four main production variables, along with land, labor, and entrepreneurship, is capital.
Hammers, tractors, assembly lines, conveyor belts, computers, trucks, and railroads are typical instances of capital. Financial capital, which consists of the debt and equity accumulated by firms to operate and grow, is separated from economic capital.
In contrast to land or labor, capital is artificial; it needs to be made by human hands and built with human goals in mind. This suggests that investment in time is necessary before capital can be put to use efficiently. For instance, the fisherman who makes their own rod must first take time away from other tasks to do so.
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Mel's Diner is a popular café that specializes in home-cooked meals, friendly service, and a menu that contains vegan and vegetarian dishes (menu items that no other restaurant in the area offers). Mel's Diner is engaging in strategic positioning by offering the unique menu items of vegan and vegetarian dishes.
i. True
ii. False
Answer:
true
Explanation:
Terms of trade is the
A. difference between export and import of goods
B. rate in which exports is exchanged
C. difference between the export and import of services
D. percentage of export and import of goods and services
Answer:
D
Explanation:
trade is exchanges both international, internal tangible as well as intangible Assets.
Tom is the CEO of a jewelry business based in Boston. He needs to send a parcel of 200 diamonds as quickly as possible to a partner in Canada. What mode of transport should he use?
A.
road
B.
sea
C.
air
D.
rail
E.
rail and road
1. The benefit of reading news written by StreetAccount is:
You have pages of details as part of an in-depth piece of analysis.
You have bullet points to allow you to quickly make an informed decision.
You are guaranteed to have the news before any other source.
You can access this for free on the Workstation.
2. Where can you access detailed broker estimates and access sell-side research reports?
All Estimates
Estimate Summary
Broker Outlook
Estimate History
3. The Company/Security tab can be used to analyze:
Bawan Co. (1302-SA)
SmartyPants, Inc. (0FGW5S-E)
SPDR SSGA Gender Diversity Index ETF (SHE-US)
All of the above
4. You can filter the events displayed in FactSet’s Event Calendar by:
Time Period
Type of Conference Call
Geographic Region
All of the above
The benefit of reading news written by StreetAccount is: option A: You have pages of details as part of an in-depth piece of analysis.
Where can you access detailed broker estimates and access sell-side research reports is option A: All Estimates.
What is detailed news?A report that is produced with greater detail is referred to as in-depth journalism. The audience may learn more about every part of the story from in-depth journalism. In-depth reporting incorporates environment and background knowledge.
Investigating a topic or issue in considerable detail is the process of doing an in-depth analysis. In order to reveal hidden patterns or previously undiscovered links, it frequently entails looking at data or information in a fresh way. Deep analysis can be used to unravel complex issues or comprehend intricate systems.
Therefore, in regards to the question above, one can say that StreetAccount news are trustworthy as well as very thorough and help you to make informed decision.
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How did Ray conduct marketing-information management?
Care should be taken with running engine in the automotive workplace. Why?
Health and safety are crucial in the automotive industry. Every business must adhere to health and safety regulations, but the automotive sector is particularly important because employees are frequently in danger.
Thus, The Health and Safety Executive may take legal action and impose severe fines if the regulatory standards for health and safety are not met. Additionally, if one of your staff members was hurt, they might sue you in court.
Even while safety is essential to every aspect of the automotive industry's operations, some businesses see it as a costly expense.
When doing manual handling tasks, which demand employees to bend, reach, stretch, lift, and pull large objects while being in confined spaces, some of the most frequent risks in the automobile sector occur.
Thus, Health and safety are crucial in the automotive industry. Every business must adhere to health and safety regulations, but the automotive sector is particularly important because employees are frequently in danger.
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how to get stimulus check 2021 if you didn t file taxes
Answer:
you may need to file a 2020 tax return even if you don’t traditionally file.
Explanation:
This FAQ can help you understand how the system works and what you can do to claim any stimulus that you may be eligible to receive.
Match each type of tax with an example of its use.
category 1:
Property Tax
Capitol gains tax
Personal income tax
category 2:
□ 1% charged on the value of a home.
□ 20% charged on wages earned.
□ 2% charged on profits from selling a house.
Answer:
Hmm What do you. mean?
Explanation:
Under the U.S. Constitution, Congress has the power to regulate a. only intrastate commercial enterprises. b. every commercial enterprise in the United States. c. only non-commercial activities. d. only local commercial enterprises.
Countries are run by constitution. Under the U.S. Constitution, the federal government has the power to regulate commercial activities among the states.
What can Congress regulate under the Commerce Clause?The Commerce Clause of the United States Constitution is known to be one that gives the Congress power to monitor interstate and foreign commerce.
The meaning of this language shows that a limited power to monitor commercial trade between persons in one state and also people outside of that state is given to them.
Note that Congress can monitor every commercial enterprise in the United States.
Therefore, option b is correct.
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Explain how the sneaker resale industry is an example of CAPITALISM at work (Include words : profit, free market, capital, competitive, supply and demand
The sneaker resale industry is an example of capitalism at work because it operates based on the principles of supply and demand.
What does the concept of capitalism means?In a capitalist system, individuals and businesses are free to buy and sell goods and services at prices that are determined by the market.
In the sneaker resale industry, people are willing to pay higher prices for limited-edition or rare sneakers, and the resale market responds to this demand by buying the sneakers at the original price and then reselling them for a profit.
The resale market creates value for its customers by providing them with access to hard-to-find sneakers, and the market operates efficiently by balancing supply and demand through the pricing mechan
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How important is money
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
Which income category and racial group have the least confidence in police?
Which income category and racial group have the least confidence in police Those making under $20,000 per year and blacks
Which 6 racial groups are there?
White, Black or African American, American Indian or Alaska Native, Asian, and Native Hawaiian or Other Pacific Islander are the minimal categories for race required by OMB. The usage of the sixth category, "Some Other Race," is approved by OMB for the Census Bureau. Multiple races may be reported by respondents.What are the three main racial categories?
Abstract. We investigated the genetic relationships among the three main human races, Caucasoid, Negroid, and Mongoloid, using gene frequency data for 62 protein loci and 23 blood group loci. According to genetic distance studies, Caucasoid and Mongoloid are somewhat more closely related to one another than Negroid is.
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