Marginal cost and average fixed cost does not vary with the amount of output a firm produces. The machine to make significant decisions about a kid, such as those involving their education, religious upbringing, health care.
The power to make decisions always rests with a person and cannot be transferred to a machine. Machine decision-making is predicated on the authority of the managers who run the systems involved. Managers are nevertheless held accountable and responsible for the choices made by the systems they are in charge of. The ability to affect someone else's attitude or behaviour is referred to as having power. While power typically serves as a symbol of a person's position.
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Which quality of accounting information states that the information is verifiable and is not subject to opinion.
Reliability!
Hope this helps, Good luck! :)
What must happen before significant decisions are made?
O Analyses are performed.
Customers are asked for feedback.
O Managers are consulted.
O Employees share ideas with supervisors.
Answer:
O Analyses are performed.
Explanation:
I think
Your uncle has $1,375,000 and wants to retire. He expects to live for another 25 years and to earn 7. 5% on his invested funds. How much could he withdraw at the end of each of the next 25 years and end up with zero in the account? a. 592,514. 13 b. 5,127,052. 74 C $97,448. 22 d. 5,124,585. 70 E. 6. 5,123,352. 17
$,123,352. 17 could he withdraw at the end of each of the next 25 years and end up with zero in the account. The answer is OPTION E
The maximum withdrawal permitted throughout any Contract Year without being subject to surrender fees. The income of a policyholder is guaranteed under a guaranteed minimum withdrawal benefit (GMWB), regardless of the nature of market activity.
The typical maximum withdrawal is between 5% and 10%. These kinds of riders are intended to safeguard policyholders in times of market turbulence. Many Indian banks give account users the option to withdraw up to one lakh rupees ($14,000) per day through check. This only applies to checks marked "self-use" or "self-addressed," though. The answer is OPTION E
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A proven product, established management systems, and customer goodwill are three advantages of _____. a. joining a family business b. starting a new business c. buying a franchise d. working from home
Answer:
Option C: Buying a franchise
Explanation:
Franchise is simply defined as a business that sells or distribute a product or service that has beingdeveloped by a franchisor. It is usually in the way or manner that the franchisor listed.
The product, method of distribution, and, sales and management are governed or controlled by the franchisor of the business.
The process of purchasing that is buying of a Franchise is by looking into franchising company, contact, application, franchise contact and review, franchise agreement, negotiation terms, agreement signed and others.
Answer:
C or 3Explanation:
i got the proof if you would like.
In what three ways does the government affect production of goods and services in the US economy?
What does it mean when your order is on its way?.
The package has been being transported through the UPS network and will be delivered on the stated delivery date. A package could remain in such status until it is delivered.
Submit the USPS tracking information (found at the bottom of such a shipping label) inside the search bar, without any dashes as well as spaces. Select "Check Status." View each package's scan history as well as status information.
The shipping cycle would be an economic cycle which aids in determining the impacts of variations in supply as well as demand on transport costs as well as shipping assets, i.e. ships. The four stages are as follows: rock bottom (also referred as trough), recovery, peak, as well as, finally, collapse.
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What do taxes pay for?
Fill in the blank:
Setting (blank) objectives, may improve a firm's reputation as well as help it recruit, motivate and retain staff. On the other hand, doing so may impose additional
(blank) on the firm.
Social objectives, may improve a firm's reputation as well as help it recruit, motivate and retain staff. On the other hand, doing so may impose additional
liabilities on the firm.
The term "social aims" refers to goals that are intended to be realized for the betterment of society. Company makes use of society's limited resources. As a result, people expect something in exchange for its well-being. The fulfillment of social duties is referred to as a social objective.
So, Social objective and Liabilities area correct answers.
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which of the following statemnets is true about sea the world cruises' $1,000 bound price
The true statement about Sea the World Cruises' $1,000 bound price is that it is an advertisement for luring customers to book a trip and there are additional fees that need to be paid on top of the $1,000 fee.
The advertisement fails to mention other fees such as port fees, taxes, and onboard expenses, which could significantly increase the cost of the trip.
While the $1,000 fee may seem like a great deal, customers should be aware of the additional costs before making a decision.The $1,000 price does not include government taxes and port charges, which could add up to hundreds of dollars.
Also, the $1,000 price only applies to a limited number of cabins and does not include airfare or other transportation costs. Therefore, it is important to read the fine print and understand all the costs associated with the trip before making a booking decision.
Sea the World Cruises is trying to attract customers by advertising a $1,000 price, but it is important to be aware of the additional fees that need to be paid. Customers should do their research and compare prices before making a decision.
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Business is a part of economic activity true or false
Answer: true
Explanation:
since business is the fundamental source of our economy.
Create a pro-forma income statement, a pro-forma balance sheet, and cash flow projection for a hypothetical private school. The answer should include a break-even analysis. The answer should reflect one that would be in a business plan.
Creating a comprehensive business plan for a hypothetical private school would require a detailed analysis of various financial statements, including a pro-forma income statement, pro-forma balance sheet, cash flow projection, and break-even analysis.
Due to the complexity and length of these documents, it would not be feasible to provide a complete answer within this text-based format. However, I can provide you with an outline of the components typically included in each of these documents to help you get started on creating your own business plan for a private school:
1. Pro-forma Income Statement:
- Revenue: Include tuition fees, registration fees, fundraising income, and any other sources of income.
- Operating Expenses: Include salaries and benefits for teachers and staff, administrative expenses, rent or mortgage payments, utilities, maintenance costs, supplies, insurance, marketing expenses, and other operational costs.
- Depreciation: Include depreciation expense for any capital assets.
- Interest Expense: Include any interest payments on loans or other forms of financing.
- Taxes: Consider any applicable taxes or exemptions.
- Net Income: Calculate the net income by subtracting the total expenses from the total revenue.
2. Pro-forma Balance Sheet:
- Assets: List the school's assets, including property and buildings, equipment, furniture, technology, cash and cash equivalents, accounts receivable, and any other assets.
- Liabilities: Include accounts payable, accrued expenses, loans, mortgages, and any other liabilities.
- Equity: Calculate the equity by subtracting the total liabilities from the total assets.
3. Cash Flow Projection:
- Cash Inflows: Estimate the cash inflows from tuition fees, registration fees, fundraising, grants, and any other sources of cash inflows.
- Cash Outflows: Estimate the cash outflows for operating expenses, loan repayments, equipment purchases, facility improvements, and any other significant cash outflows.
- Net Cash Flow: Calculate the net cash flow by subtracting the total cash outflows from the total cash inflows.
4. Break-Even Analysis:
- Determine the fixed and variable costs associated with running the private school.
- Calculate the contribution margin per student by subtracting the variable costs per student from the tuition fees.
- Determine the break-even point by dividing the total fixed costs by the contribution margin per student.
Remember, when creating your own business plan for a private school, it is important to consider the unique characteristics and circumstances of your school, such as student enrollment, pricing strategy, competition, and local market conditions. These factors will influence the specific financial projections and analysis for your school.
Additionally, consulting with a financial professional or business advisor can provide valuable insights and guidance in creating a comprehensive and accurate business plan for a private school.
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Gianna put $1,000 in a savings account for 18 months. The interest on the account is 3.5%.
How much will Gianna earn in interest? What amount will she have at the end of the time period?
Answer:
You will earn $52.96 in interest
You have $1,052.96 in total.
Which ics functional area arranges for resources and needed services to support achievement.
Logistics arranges for resources and needed services to support achievement of the incident objectives (resource can include personal,equipment, teams, supplies , and facilities).
What do you mean by Logistics?
Logistics is the process of planning and executing the efficient transportation and storage of goods from the point of origin to the point of consumption.
The goal of Logistics is to meet customer requirements in a timely, cost effective man.
What are the example of Logistics?
Logistics is a specialized field of its own compromised of shipping warehousing, courier service, road/rail transportation, and air freight.Retail companies become involved in supply chain management tot control product quality, inventory levels, timing, and expenses.Learn more about Logistics here:
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The answer is Logistics.
Logistics arranges for resources and required services to support achievement.
What is logistics? It refers to the process of how various resources are stored, acquired and sent to final destination. Logisticians are the managers to manage logistics. The primary task of Logisticians is to maintain the inventory by arranging proper transportation and storage.Logistics management aims to provide the correct input at a correct time. The logistics field can be divided into five main fields. These are procurement logistics, production logistics, recovery logistics, sales logistics, and recycling logistics.Logistics improves the efficiency of work, improves availability of products and encourages sales.To learn more about Logistics visit: https://brainly.com/question/25380728?
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Campbell Manufacturing intends to start business on January 1, 2011. Production plans for the first four months of operations are as follows:
January ………….20,000 units
February …………50,000 units
March ……………70,000 units
April ………………70,000 units
Each unit requires 2 pounds of material. The firm would like to end each month with enough raw material to cover 25 percent of the following month’s production needs. Raw material costs $7 per pound. Management pays for 40 percent of purchases in the month of purchase and receives a 10 percent discount for these payments. The remaining purchases are paid in the following month, with no discount available.
a. Prepare a purchases budget for the first quarter of 2011 in units, in total, and in dollars.
b. Determine the budgeted payments for purchases of raw materials for each of the first three months of operations and for the quarter in total.
c. Where in the budgeted financial statements do the purchase discounts appear?
To reduce bias in the selection process, companies can implement blind hiring practices such as removing identifying information from resumes, using skills-based assessments, and conducting blind interviews.
a. The total purchases of raw material for the first quarter are 264,000 pounds or 132,000 units, costing $1,848,000.
b. Budgeted payments for purchases of raw materials for January, February, and March are $580,800, $1,094,800, and $640,800, respectively. Total budgeted payments for the quarter are $2,316,400.
c. Purchase discounts appear in the cost of goods sold section of the income statement.
The given scenario involves the preparation of a purchases budget for the first quarter of 2011, based on the production plans of Campbell Manufacturing. The company aims to end each month with 25% of the following month's production needs in raw materials. Each unit requires 2 pounds of material, costing $7 per pound. Management pays for 40% of purchases in the month of purchase and receives a 10% discount. The remaining purchases are paid the following month with no discount. Based on these assumptions, the purchases budget for the first quarter in units, total, and dollars can be prepared. Additionally, the budgeted payments for each month and the purchase discounts would be reflected in the budgeted financial statements.
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Blue Sky's is a small passenger airline business. The company wants to expand to fly to the Northwestern United States. Joe, one of the managers at Blue Sky has tasked you to gather information to assess Blue Sky's about the general environment, an external analysis and assess the market position compared to the company's competitors. In completing this task, you will have completed a:a- internal environmental analysisb-market anaylsisc-industry analysis
In completing this task, you will have completed a: c-industry analysisAn industry analysis is a type of marketing strategy that can provide information about how well your products and services will be advertised.
This section of your plan needs specific information about the state of the sector and its target markets. In order to communicate to the data, an industry study may include reference tools like spreadsheets, pie charts, and bar graphs. Any commerce examiner's duty to conduct an industry analysis could be essential. A particular industry's future perspective based on historical trends and its demand-supply mechanics may be taken into consideration.
Businesses use industry research to help them understand how businesses, including their own, compete in a market. Demand-supply statistics, the level of industry competition, future prospects based on things like technological advancements, the level of industry competition with developing industries, the influence of other external factors in the past, and credit systems are some of the aspects of an investigation.
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Pepe is observing workers in his company's warehouse to write a report on
safety hazards. Which of the following is the best way for him to report his
findings?
A. "A number of people stored items improperly."
B. "Alana failed to wear proper safety equipment."
C. "Amelia and Jake stored items improperly."
D. "After questioning Juan during his shift, I determined he does not
wear the proper safety equipment."
SUBMIT
Answer:
A. "A number of people stored items improperly."
Explanation:
Pepe's report must appear to be as objective as possible. An objective report highlights issues as observed in an unbiased manner. It excludes the writer's opinions and feelings.
Pepe must be seen to be neutral when writing his report. Including people's names and what they did may appear to be subjective. Mentioning names create an impression of personal involvement in the observation.
Answer:
A a number of people stored items improperly
Explanation:
because people try to get things done so they don´t have to do it over again. they want to go home so that they don´t have anything to put there the next day.
kindly assist with research
my topic
The newly implemented e-payslip is not inclusive to all employees of the government.
what is the problem?
why is it the problem?
3 things that should be done to solve the problem?
The problem in the topic is the newly implemented e-payslip is not inclusive to all employees of the government. The reason why this is a problem is because it can cause dissatisfaction and confusion among employees who do not have access to the e-payslip.
Also, the e-payslip system may not be accessible or user-friendly for all employees who are supposed to use it.
Here are three things that should be done to solve the problem:
1. Conduct research: Research should be conducted to find out which employees are not included in the e-payslip system and why. This can help identify any technical or logistical problems that may be preventing some employees from using the system.
2. Increase accessibility: Steps should be taken to increase the accessibility of the e-payslip system so that all employees can use it. This may involve providing training and support to employees who are not familiar with using digital systems.
3.Improve communication:
Clear communication should be provided to all employees about the e-payslip system, including how to access it, how to use it, and how it benefits them. This can help address any confusion or dissatisfaction among employees who are not currently using the system.
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Which of the following best explains why an advertiser should use outdoor advertising?
A. Outdoor advertising offers a low cost per exposure.
B. Outdoor messages are influenced by their environment.
C. Outdoor advertising involves minimal preparation and planning.
D. The audience demographics for outdoor ads are easy to measure.
E. Many locations are readily available for outdoor advertising because of low demand.
The correct option is A. An advertiser should use outdoor advertising as it offers a low cost per exposure.
Outdoor advertising is a type of advertising that uses media or billboards to reach consumers. It includes posters on buses, subway stations, and on the sides of buildings. Outdoor advertising has many advantages including a low cost per exposure as compared to other advertising mediums. In addition, the location of outdoor advertising can be very influential. Outdoor advertising is also easier to measure and target specific demographics.
Another advantage of outdoor advertising is that many locations are readily available because of low demand. Outdoor advertising has a wide reach and is effective at attracting attention and creating brand awareness. Thus, an advertiser should use outdoor advertising to reach consumers in a cost-effective way.
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buying insurance is a risk management strategy. describe what kinds of risk are managed (what is the trade-off?), what risk attitude is being managed, and the role of the utility function in determining the price of insurance.
Buying insurance is a risk management strategy.
The kinds of risk that are managed in buying insurance include financial risk, legal risk, and medical risk.
The trade-off is that people who buy insurance pay a premium to an insurance company, which means they pay more than they would if they didn't buy insurance. In exchange, the insurance company takes on the risk of any losses that might occur. This means that people who buy insurance are transferring some of their risk to the insurance company.
Risk attitude is being managed when people buy insurance. People who buy insurance are typically risk-averse, which means they would rather pay a premium to avoid the risk of a large loss. The insurance company, on the other hand, is typically risk-neutral, which means it is willing to accept the risk of a large loss in exchange for a premium that covers the cost of any losses that might occur.
The role of the utility function in determining the price of insurance is to help insurance companies calculate the expected value of a loss. The utility function is a measure of how much an individual values a particular outcome. In the case of insurance, the utility function is used to determine the value of the premium that people are willing to pay in exchange for the risk of a large loss. The higher the premium, the greater the expected value of the loss, and the more the insurance company will charge for the insurance policy.
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Could someone help me with my homework?
Question: What is management in business?
Thank you!!
Answer:
Management, as named, is the job of managing a corporation, organization, or business of any kind. Someone in the management position might have jobs such as staffing, planning, organizing, and being a leader among their employees. There is a lot of work put into it; the managers main job is to oversee work and make sure things are running smooth.
Please paraphrase if you are using this answer for an assignment :]
Positive economic growth is realized when a country's production possibilities curve
(frontier) shifts outwards, however, can be calculated as the percentage increase in
either the real gross domestic product or the real gross domestic product per capita.
Answer:
True
Explanation:
It is TRUE that Positive economic growth is realized when a country's production possibilities curve
(frontier) shifts outwards.
This is evident in the fact that the outwards shifts of the production possibilities curve of a country indicate an increase in output or production level of that country.
Also, such production possibilities can indeed be estimated as the percentage increase in either the real gross domestic product or the real gross domestic product per capita.
List 2 businesses that you can start that customers need/want and you feel will make profit in 2021 and 2022
Answer: a groceries store and a school bus driver school
Explanation: hope it helps
The most common time frame individuals use when developing a budget is _____. A) Yearly B) Monthly C) Daily D) Weeklyeco
Answer:
Monthly
Explanation:
Suppose that Defenestration decides to pay a dividend of only $2 per share this year and use the remaining $2 per share to repurchase stock. If Defenestration maintains this dividend and total payout rate, then the rate at which Defenestration's dividends and earnings per share are expected to grow is closest to what?
Answer:
Missing word "Defenestration Industries plans to pay a $4.00 dividend this year and you expect that the firm's earnings are on track to grow at 5% per year for the foreseeable future. Defenestration's equity cost of capital is 13%."
P0 = dividend payout per share/ (k-g)
Where g is firms earning growth = 5% or 0.05
And k is the cost of capital = 13% or 0.13
Therefore P0 = $4 / (0.13 -0.05) = $50
But if the payout is $2 per share and $2 per share is used to repurchase stock then to get the price of the stock in one year given the current price of $50.00, dividend at $2 and the 13% cost of capital we get
$50 = $2 + X / (1.13)
Therefore x = $54.5
At a current price of $50, we can expect that Defenestration Industries stock to sell for $54.50 immediately after the firm pays the dividend in one year
Therefore the growth is (54.5 -50)/50 = 9%
Which statement identifies a reason a federal minimum wage was first established?
Small business owners sought to hire more people.
Workers needed fair compensation for their labor.
The federal government wanted to increase revenue.
Corporations required more highly skilled professionals.
The correct statement is : ( B ) Workers needed fair compensation for their labor.
Reason for the establishment of the federal minimum wageThe federal minimum wage was established to protect workers by providing fair compensation for their labor and establishing a
standard of living. The federal minimum wage was first introduced to cushion the effect of the post -depression era.
Hence we can conclude that the correct statement is Workers needed fair compensation for their labor.
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Answer: workers needed fair compensation for their labor
Need help with this one.
Anton's gross monthly pay is $1,058.00. If his employer withholds 11% for the monthly federal income tax, how much will be deducted from his paycheck?
Group of answer choices
$941.62
$11.00
$116.38
$11.64
Anton's gross monthly pay is $1,058.00. If his employer withholds 11% for the monthly federal income tax, $116.38 will be deducted from his paycheck.
Define tax?A tax is a mandatory payment or charge levied on individuals or businesses by local, state, and national governments to cover the costs of general government services, goods, and activities.It is derived from the Latin taxare, which means 'to assess'. Previously, English used the related word 'task,' which was derived from Old French.For a time, the terms 'task' and 'tax' were interchangeable, with the first requiring labor and the latter requiring money.The term 'tax' then came to mean something tedious or difficult.Governments levy fees on citizens and businesses to generate revenue, which is then used to meet budgetary demands.This includes financing government and public projects as well as improving the country's business environment to promote economic growth.To learn more about tax refer to:
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1. Define the oscopy approach in PCS coding.
2. Code the following scenario dividing the codes appropriately into the mom and baby charts: 29-year-old female presents for delivery. This is her third pregnancy. She is at 39 weeks of gestation. This is a normal pregnancy. After a normal delivery, she gives birth to a single liveborn. The little boy is circumcised on the second day without incident. Both mom and baby are discharged in good health.
3. Code the following scenario dividing the codes appropriately into the mom and baby charts: 36-year-old female presents for delivery. This is her first pregnancy. She has had a normal pregnancy without incident. She is 37 weeks gestation. This is a twin pregnancy. Baby A is delivered vaginally with low forceps and Baby B by C section. Both babies are fine.
4. Code the following scenario: 40-year-old multigravida presents for vaginal delivery in week 41. No problems during delivery. Single liveborn.
5. Code the following scenario: 26-year-old primigravida presents in week 38. Second-degree perineum tear. Single liveborn.
6. Code the following scenario: Baby born via C-Section transferred to Children's Hospital for Myelomeningioma with hydrocephalus. Code for Children's hospital.
1. Oscopy approach: Surgical instrument insertion method - open or percutaneous. 2. Mom: Normal delivery. Baby: Liveborn, circumcision. 3. Mom: Vaginal delivery with low forceps. Baby A: Vaginal delivery. Baby B: C-section. 4. Vaginal delivery of single liveborn at week 41. 5. Vaginal delivery, second-degree perineum tear, single liveborn. 6. Children's Hospital: Transfer for C-section-born baby with myelomeningioma and hydrocephalus. Code accordingly.
1. The term "oscopy" in PCS coding refers to the approach used during a surgical procedure. It is used to describe the method by which a surgical instrument or device is inserted into the body. The approach can be classified as either "open" or "percutaneous." An open approach involves making a larger incision to access the target area directly, while a percutaneous approach involves inserting instruments through the skin using a minimally invasive technique. The choice of approach depends on the specific procedure and the surgeon's preference.
2. For the given scenario, dividing the codes appropriately into the mom and baby charts would involve assigning diagnosis and procedure codes for each individual. In the mom's chart, you would code for the normal delivery and any relevant procedures or conditions related to the mother. In the baby's chart, you would code for the liveborn status, circumcision, and any other relevant procedures or conditions related to the baby.
3. In this scenario, coding appropriately into the mom and baby charts would involve assigning diagnosis and procedure codes for each individual. In the mom's chart, you would code for the normal pregnancy, twin pregnancy, vaginal delivery with low forceps, and any relevant procedures or conditions related to the mother. In the baby's chart, you would code for the C-section delivery, twin status, and any relevant procedures or conditions related to the babies.
4. For this scenario, the coding would involve assigning diagnosis and procedure codes for the vaginal delivery of a single liveborn baby in week 41 of gestation. The specific codes would depend on any additional procedures or conditions that may be present during the delivery.
5. In this scenario, the coding would involve assigning diagnosis and procedure codes for the perineum tear and the vaginal delivery of a single liveborn baby in week 38 of gestation. The specific codes would depend on the severity of the tear and any additional procedures or conditions that may be present during the delivery.
6. For the scenario involving the baby's transfer to Children's Hospital for myelomeningioma with hydrocephalus, you would need to code the diagnosis and any relevant procedures or conditions associated with the baby's condition. The specific codes would depend on the details provided in the scenario and the coding system used (such as ICD-10-CM for diagnosis coding and/or CPT or HCPCS for procedure coding). The codes should accurately reflect the baby's diagnosis and the reason for the transfer to Children's Hospital.
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How does capitalism helps economic growth achievement in developing countries?
What statements best describe a store charge card?
A. Store cards do not have the name of the store on them.
B. Store cards have a "Visa" or "MasterCard" logo on them and can used as a debit card.
C. Usually, the store card can only be used at the store or at other businesses that store may own.
D. Store cards can only be used for sale items.
The statement that best describe a store charge card is that usually, the store card can only be used at the store or at other businesses that store may own. Option C is correct.
Store charge cards are typically issued by a specific store or chain of stores and can usually only be used for purchases made at that store or its affiliated businesses. They typically do not have a Visa or Mastercard logo and cannot be used as a debit card. While some store cards may offer special discounts or rewards for sale items, they are not typically restricted to sale items only.
Store charge cards are credit cards that are issued by a specific store or retail chain. Unlike traditional credit cards, store charge cards can only be used for purchases at the store or its affiliated businesses. They are not typically affiliated with Visa or Mastercard, so they cannot be used as a debit card or to make purchases at other retailers.
Store charge cards often offer rewards programs or special discounts to cardholders, such as cash back on purchases or exclusive access to sales and promotions. However, these rewards are typically limited to the store or chain of stores that issues the card. In addition, store charge cards often have higher interest rates and fees than traditional credit cards, so it is important to carefully review the terms and conditions before applying for a store charge card. Option C is correct.
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A perfectly competitive firm not able to sell all it wants at the market equilibrium
price. Therefore, it has no incentive to increase prices (sacrificing revenues and
therefore profits) to increase sales. Because other firms are selling nearly identic
products (i.e., goods are homogeneous) at the market equilibrium price, trying to
raise the price would lead to the firm gaining all its sales.
A perfectly competitive firm is not able to sell all it wants at the market equilibrium price. Therefore, it has no incentive to increase prices (sacrificing revenues and therefore profits) to increase sales. Because other firms are selling nearly identic products (i.e., goods are homogeneous) at the market equilibrium price, trying to raise the price would lead to the firm gaining all its sales.TRUE
In economic theory, perfect competition occurs when all companies sell identical products, market share does not influence price, companies are able to enter or exit without barriers, buyers have perfect or full information, and companies cannot determine prices.In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition.
Perfect competition is an economic term that refers to a theoretical market structure in which all suppliers are equal and overall supply and demand are in equilibrium. For example, if there are several firms producing a commodity and no individual firm has a competitive advantage, there is perfect competition.The three primary characteristics of perfect competition are (1) no company holds a substantial market share, (2) the industry output is standardized, and (3) there is freedom of entry and exit. Efficient market equilibrium under perfect competition is when marginal revenue equals marginal cost.
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