The intermediaries that represent buyers and sellers on a permanent basis are known as brokers.
Brokers act as middlemen between buyers and sellers and help to facilitate transactions by matching buyers with sellers.
Brokers typically have a deep understanding of the market and can provide valuable advice to their clients based on their knowledge and expertise.
They work to negotiate deals that are mutually beneficial to both parties, and they may receive a commission or fee for their services. Brokers are commonly used in industries such as real estate, finance, and insurance, where their expertise can be particularly valuable.
They play an important role in connecting buyers and sellers and helping to ensure that transactions are completed smoothly and efficiently.
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MGMT Mobile Company (MMC) is seriously considering the trends in the market and are looking forward to engaging in a movement from e-business to m-business. Explain four areas MMC would need to adopt in order to facilitate this movement in business.
MGMT Mobile Company (MMC) is seriously considering the trends in the market and are looking forward to engaging in a movement from e-business to m-business. The four areas MMC would need to adopt in order to facilitate this movement in business are:
Develop a Mobile-Friendly Website: In order to develop a mobile-friendly website, MMC will need to create a website that can be accessed on all types of devices. This website should be optimized for mobile devices so that it is easy to navigate and use.Develop Mobile Applications: MMC would need to create mobile applications that are compatible with different mobile devices. These applications would allow customers to access the services offered by MMC using their mobile devices.Offer Mobile Payment Solutions: MMC would need to provide mobile payment solutions so that customers can make payments using their mobile devices. This would make it easy for customers to make payments and transactions while on the go.Provide Location-Based Services: MMC would need to provide location-based services so that customers can find the nearest stores and access other services offered by MMC in their vicinity. This would make it easy for customers to access the services offered by MMC while on the go.Thus, these are the four areas MMC would need to adopt in order to facilitate the movement from e-business to m-business.
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The Crunchies Snack Food Company packages potato chips in bags. The net weight of the chips in each bag is designed to be 9. 0 oz, with a tolerance of /- 0. 5 oz. The packaging process results in bags with an average net weight of 8. 80 oz and a standard deviation of 0. 12 oz. The company wants to determine if the process is capable of meeting design specifications. What is the Cp and what does it tell you about the capability of the process
The Cp value is 1.39 and the net weight is 8.80 oz which is below the target weight of 9.0 oz which causes customer dissatisfaction.
The Crunchies Snack Food Company aims to package potato chips with a net weight of 9.0 oz per bag and a tolerance of +/- 0.5 oz. To assess the capability of their packaging process, we need to calculate the Cp value. The Cp value is a ratio that compares the allowable process spread to the actual process spread.
To calculate the Cp value, first, determine the process spread (USL - LSL) divided by 6 times the standard deviation.
The upper specification limit (USL) is 9.0 oz + 0.5 oz = 9.5 oz, and the lower specification limit (LSL) is 9.0 oz - 0.5 oz = 8.5 oz.
Process spread = (USL - LSL) / (6 * standard deviation)
Process spread = (9.5 oz - 8.5 oz) / (6 * 0.12 oz) = 1.0 oz / 0.72 oz = 1.39
The Cp value of 1.39 indicates that the process spread is 1.39 times larger than the range allowed by the design specifications. A Cp value greater than 1 means that the process is capable of meeting the design specifications. However, this does not guarantee that the process is centered within the specifications.
Thus, the average net weight of 8.80 oz is below the target weight of 9.0 oz, which may lead to customer dissatisfaction. The company should focus on centering the process to better meet design specifications.
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On january 1, 2021, calloway company leased a machine to zone corporation. the lease qualifies as a sales-type lease. calloway paid $240,000 for the machine and is leasing it to zone for $34,000 per year, an amount that will return 10% to calloway. the present value of the lease payments is $240,000. the lease payments are due each january 1, beginning in 2021. what is the appropriate interest entry on december 31, 2021
On December 31, 2021, Calloway will record an interest entry of $20,600.
Calloway Company leased a machine to Zone Corporation on January 1, 2021. This is a sales-type lease, which means Calloway will recognize the profit at the inception of the lease. Calloway paid $240,000 for the machine and is leasing it for $34,000 per year, which yields a 10% return. The present value of lease payments is equal to the cost of the machine, i.e., $240,000. Lease payments are due each January 1, starting from 2021.
Now, let's determine the appropriate interest entry on December 31, 2021. Since the lease payments are due on January 1, Calloway received a lease payment of $34,000 on January 1, 2021. The interest for the year will be calculated on the remaining lease receivable balance.
1. Calculate the lease receivable balance: $240,000 (present value of lease payments) - $34,000 (lease payment received) = $206,000.
2. Determine the interest for the year: $206,000 (lease receivable balance) x 10% (return) = $20,600.
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the following standards for variable manufacturing overhead have been established for a company that makes only one product: standard hours per unit of output 6.6 hours standard variable overhead rate $13.00 per hour the following data pertain to operations for the last month: actual hours 2,675 hours actual total variable manufacturing overhead cost $35,435 actual output 250 units what is the variable overhead efficiency variance for the month? multiple choice $13,985 u $13,325 u $660 u $21,450 f
The variable overhead efficiency variance for the month will be $13,325 unfavorable. Option B is correct.
Variable overhead efficiency variance can measures the difference between the actual hours worked as well as the standard hours allowed for the actual output, will be multiplied by the standard variable overhead rate.
The standard hours allowed for the actual output are calculated as follows;
Standard hours per unit of output × actual output = 6.6 hours per unit × 250 units = 1,650 hours.
Variable overhead efficiency variance = (Standard hours allowed - Actual hours) × Standard variable overhead rate
= (1,650 hours - 2,675 hours) × $13.00/hour
= -1,025 hours × $13.00/hour
= $13,325 unfavorable.
Therefore, the variable overhead efficiency variance for month is approximately $13,325 unfavorable.
Hence, B. is the correct option.
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--The given question is incomplete, the complete question is
"The following standards for variable manufacturing overhead have been established for a company that makes only one product: standard hours per unit of output 6.6 hours standard variable overhead rate $13.00 per hour the following data pertain to operations for the last month: actual hours 2,675 hours actual total variable manufacturing overhead cost $35,435 actual output 250 units what is the variable overhead efficiency variance for the month? multiple choice A) $13,985 B) $13,325 C) $660 D) $21,450."--
Describe how likely is it for an entrepreneur to enter the market considering the current legal system
Some insights regarding the current legal system and how it can impact entrepreneurs who are trying to enter the market.
The likelihood of an entrepreneur entering the market can be influenced by a variety of factors, including the current legal system. While legal regulations and compliance can help establish a level playing field, the process of navigating and adhering to these regulations can be challenging and costly, particularly for new startups with limited resources.
Entrepreneurs may also face potential legal barriers and uncertainties, such as intellectual property disputes or regulations specific to their industry, which could dissuade them from entering the market.
However, the legal system can also offer protections and opportunities for entrepreneurs. Legal protections such as patent and copyright laws can help entrepreneurs safeguard their intellectual property and prevent others from infringing on their rights. Additionally, new legal developments, such as the establishment of regulatory sandboxes and other supportive measures, can create a more conducive environment for entrepreneurship.
Overall, the likelihood of an entrepreneur entering the market depends on various factors beyond the legal system, including market conditions, competition, funding, and more. While navigating the legal system can be challenging, it is not necessarily a barrier to entry, and entrepreneurs who are well-prepared and have a strong value proposition can still succeed despite legal challenges.
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SYS210 TMA Case StudyAmazon CRMBy Rob Binns | Senior Writer | Updated: 20 April 2021Amazon. No, we’re not talking about the South American rainforest. But when it comes to sheer size, we might as well be. Amazon is an ecommerce goliath – a household name where you can buy almost anything you might want or need, and have it delivered the next day. So, what’s been the secret behind its massive success?
The secret behind Amazon's massive success, specifically in relation to its CRM (Customer Relationship Management) system.
The secret behind Amazon's massive success can be attributed to its efficient and effective CRM system. Here's a step-by-step explanation:
1. Personalization: Amazon's CRM system collects data on customer behavior and preferences, which allows them to provide personalized recommendations, enhancing the shopping experience.
2. Seamless integration: Amazon's CRM integrates with various departments (sales, marketing, and customer service) to create a consistent and coherent experience for customers.
3. Customer-centric approach: Amazon's CRM focuses on understanding customer needs and preferences, allowing them to tailor their services and products accordingly.
4. Efficient communication: The CRM system enables Amazon to communicate effectively with customers through various channels, such as email, phone, and social media.
5. Data-driven decision-making: Amazon's CRM collects and analyzes customer data, helping the company make informed decisions to improve its services, products, and overall customer experience.
In summary, Amazon's massive success can be attributed to its effective CRM system, which focuses on personalization, seamless integration, a customer-centric approach, efficient communication, and data-driven decision-making.
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Please help! Giving a brainly to the best answer!
If you copied B4 to C6 what would be the resulting cell reference in C6?
HINT: The relative change in position from B4 to C6 is an increase of one column and two rows. The cell reference in B4 (=D6) must change by the same amount.
This is from the subject buisness my buisness class in 6th grade! So if your in this grade or higher please answer!
If you copied B4 to C6, the resulting cell reference in C6 would be =E8. This is because there is a relative change in position of one column and two rows.
It can be discussed as follows:
1. The relative change in position from B4 to C6 is an increase of one column and two rows.
2. The cell reference in B4 is D6.
3. To find the new cell reference in C6, you need to increase the column of D6 by one and the row by two.
4. Increasing the column D by one gives you column E.
5. Increasing the row 6 by two gives you row 8.
6. Therefore, the resulting cell reference in C6 is E8.
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It has been said that short selling is an uncomfortable maneuver for most investors, whereas they are quite comfortable going long. Why should this be so? How can an investor use a stop loss order to limit short selling losses?
Short selling is selling shares that the investor does not already own with the intention of repurchasing them at a loss in the future.
Short selling, however, exposes investors to limitless losses if the share price increases rather than decreases. Many investors find short selling unsettling due to the risk involved since they would rather purchase low and sell high, which is the reverse of short selling.
By establishing a price at which they will repurchase shares if the price starts to increase, investors may utilise stop loss orders to minimise their short selling losses. The investor can therefore keep their losses to a certain level.
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suppose you observe the following situation: state of economy probability of state of economy rate of return if state occurs stock a stock b boom .21 .189 .097 normal .74 .158 .076 recession .05 -.246 .042 assume the capital asset pricing model holds and stock a's beta is greater than stock b's beta by .84. what is the expected market risk premium?
If the capital asset pricing model holds and stock a's beta is greater than stock b's beta by .84, the expected market risk premium is -0.4934 or -49.34%
To find the expected market risk premium, we first need to calculate the expected return on the market using the capital asset pricing model (CAPM). The CAPM is expressed as:
E(Rm) = Rf + beta x (E(Rm) - Rf)
where:
E(Rm) is the expected return on the market
Rf is the risk-free rate of return
beta is the systematic risk or market risk of the security
E(Rm) - Rf is the market risk premium
We are given the probability, rate of return, and beta for each state of the economy. Using these values, we can calculate the expected return for each stock:
E(Ra) = 0.21 x 0.189 + 0.74 x 0.158 + 0.05 x (-0.246) = 0.131
E(Rb) = 0.21 x 0.097 + 0.74 x 0.076 + 0.05 x 0.042 = 0.078
Next, we can use the difference in betas between the two stocks to find the expected market risk premium:
0.131 - Rf = 0.84 x (0.078 - Rf)
Simplifying this equation, we get:
0.05316 = 0.08496 x Rf
Rf = 0.6244
Therefore, the expected market risk premium is:
E(Rm) - Rf = 0.131 - 0.6244 = -0.4934 or -49.34%
Note that the negative value for the market risk premium indicates that the market is expected to underperform the risk-free rate, which may not be a realistic assumption in practice.
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the long-run average cost curve will be upward sloping when the firm is experiencing: a economies of scale. b diseconomies of scale. c constant returns to scale. d diminishing returns. e efficiencies in production.
The long-run average cost curve will be upward sloping when the firm is experiencing diseconomies of scale.
The answer is (b) diseconomies of scale. Diseconomies of scale occur when the firm's output increases beyond a certain level, causing its average cost per unit to increase. This can happen due to various reasons, such as increased complexity in production processes, coordination problems, or diminishing marginal returns to factors of production.
On the other hand, economies of scale occur when the firm's output increases, leading to a decrease in the average cost per unit. Constant returns to scale occur when the firm's output increases, but the average cost per unit remains constant. Efficiencies in production may result in lower average costs, but they are not necessarily related to the shape of the long-run average cost curve.
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Assume that, on January 1, 2021, Shlap Enterprises paid $4,000,000 for its investment in 60,000 shares of Dodger Co. Further, assume that Dodger has 150,000 total shares of stock issued and estimates a ten-year remaining useful life and straight-line depreciation with no residual value for its depreciable assets. At January 1, 2021, the book value of Dodger' identifiable net assets was $8,000,000, and the fair value of Dodger was $12,000,000. The difference between Dodger' fair value and the book value of its identifiable net assets is attributable to $1,500,000 of land and the remainder to depreciable assets. Goodwill was not part of this transaction.
The following information pertains to Dodger during 2021:
Net income $800,000
Dividends declared and paid $600,000
Market price of common stock on 12/31/2021 $ 85/share
What amount would Shlap Enterprises report in its year-end 2021 balance sheet for its investment in Dodger Co. ?
The fair value of the investment exceeds the carrying value, Shlap Enterprises would report the investment at fair value on its year-end 2021 balance sheet, which is $5,100,000.
The investment in Dodger Co. can be accounted for using the equity method since Shlap Enterprises owns 40% (60,000/150,000) of Dodger's outstanding shares.
The initial investment of $4,000,000 will be adjusted for Shlap's share of Dodger's net income and dividends paid.
Share of Dodger's net income = 40% x $800,000 = $320,000
Share of Dodger's dividends paid = 40% x $600,000 = $240,000
The carrying value of the investment at the end of 2021 will be:
Carrying value on Jan 1, 2021 = $4,000,000
Add: Share of net income = $320,000
Less: Share of dividends = ($240,000)
Carrying value on Dec 31, 2021 = $4,080,000
The market price of Dodger's common stock on December 31, 2021, is $85 per share, and Shlap Enterprises owns 60,000 shares. Therefore, the fair value of Shlap's investment in Dodger is:
Fair value of investment = 60,000 shares x $85 = $5,100,000
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lumen learning uses web tools to write new textbooks, including docs, hangouts, and hypothes.is. a team of writers and editors works together from virginia, texas, maryland, and oregon, but never meet in-person. this is what kind of team? responses cross-functional team
A distributed team is a type of team where members work together from different geographic locations, often using web tools and technology to collaborate remotely.
Distributed team. The correct answer is E.
In this scenario, the team of writers and editors from Virginia, Texas, Maryland, and Oregon are working together using web tools to write new textbooks, including documents, hangouts, and hypotheses. They never meet in person, indicating that they are working as a distributed team, leveraging technology to collaborate despite being geographically dispersed. They work together virtually, leveraging online communication and collaboration tools to collaborate and complete their tasks.
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Complete Question-
"Lumen Learning uses web tools to write new textbooks, including documents, hangouts, and hypotheses. A team of writers and editors works together from Virginia, Texas, Maryland, and Oregon but never meets in person. This is what kind of team?
A. Cross-functional team
B. Virtual team
C. Multicultural team
D. Remote team
E. Distributed team"
Which one of the following statements is correct? the risk-free rate of return has a risk premium of 1. 0. The reward for bearing risk is called the standard deviation. Risks and expected return are inversely related. The higher the expected rate of return, the wider the distribution of returns. Risk premiums are inversely related to the standard deviation of returns.
The statement that is correct is: Risks and expected return are inversely related. The correct answer is option c.
This is a basic principle of finance that states that investors expect to be compensated with a higher rate of return for taking on higher levels of risk. In other words, investments that have higher risks will require higher expected returns to compensate investors for taking on that risk.
The other statements are incorrect:
The risk-free rate of return is the rate of return on an investment that has zero risk, such as U.S. Treasury bonds. It does not have a risk premium of 1.0.
The reward for bearing risk is called the risk premium, not the standard deviation. Standard deviation is a measure of the variability of returns.
The higher the expected rate of return, the narrower the distribution of returns, not wider. This is because higher expected returns imply less uncertainty.
Risk premiums are positively related to the standard deviation of returns, not inversely related. This is because investors require a higher risk premium to compensate for higher levels of risk.
The correct answer is option c.
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Complete Question
Which one of the following statements is correct?
a. the risk-free rate of return has a risk premium of 1. 0.
b. The reward for bearing risk is called the standard deviation.
c. Risks and expected return are inversely related.
d. The higher the expected rate of return, the wider the distribution of returns.
e. Risk premiums are inversely related to the standard deviation of returns.
which method of analysis uses non-measurable data such as your competitors' menus, feedback from customers, or the contents of food magazines and blogs?
The method of analysis that uses non-measurable data such as competitors' menus, feedback from customers, or the contents of food magazines and blogs is called qualitative analysis.
Qualitative analysis is a method of evaluating and interpreting data that is not based on numerical measurements or statistics.
In the food industry, qualitative analysis can provide insights into customer preferences, market trends, and competitive positioning. For example, analyzing customer feedback can help a restaurant identify areas for improvement in its menu, service, or atmosphere.
Similarly, studying food magazines and blogs can provide inspiration for new menu items or help identify emerging trends in the industry.
While quantitative analysis (based on numerical data) can provide valuable information, qualitative analysis is also important for understanding the subjective factors that influence customer behavior and market dynamics.
By using a combination of quantitative and qualitative analysis, food businesses can gain a more complete understanding of their market and make informed decisions about strategy and operations.
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Computer Solutions Inc. Created a software system for transmitting data among different departments within the firm. The system provides an easy and quick way of exchanging information. This has increased the firm's efficiency while reducing costs. With regard to demand-supply integration, this is an example of _______ integration
Computer Solutions Inc. Created a software system for transmitting data among different departments within the firm. The system provides an easy and quick way of exchanging information. This has increased the firm's efficiency while reducing costs. With regard to demand-supply integration, this is an example of vertical integration.
The example provided does not represent vertical integration but rather an improvement in internal communication and information sharing within a firm. Vertical integration refers to the process of a company expanding its operations by acquiring or merging with other businesses involved in different stages of the same industry's supply chain.
It typically involves combining multiple stages of production or distribution under a single ownership. In the given scenario, Computer Solutions Inc. has developed an internal software system to enhance communication and data exchange among its own departments, which improves efficiency and reduces costs within the firm.
This is not an example of vertical integration as it does not involve external acquisitions or mergers.
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A study of Filipino and Taiwanese workers in the long-term healthcare industry in Taiwan showed: ________
A study of Filipino and Taiwanese workers in the long-term healthcare industry in Taiwan showed that there were significant differences in job satisfaction levels between the two groups, with Taiwanese workers reporting higher levels of satisfaction.
The study also found that language barriers and cultural differences were challenges faced by Filipino workers, while Taiwanese workers faced challenges related to the physical demands of the job. The study recommended that employers provide language and cultural training to improve communication and understanding between workers from different backgrounds.
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If a management team wishes to boost the company's stock price, then it should consider a. pursuing actions to increase earnings per share each year that meet or beat investor expectations, raising the company's dividend each year (by at least $0.10 and preferably $0.25 or more for the increase to have much impact on the stock price), and repurchasing shares of common stock b. boosting the company's dividend by $0,50 or more every year, increasing the company's retained earnings, and paying off all long-term debt as rapidly as possible in order to achieve an A+ credit rating o c. increasing its effort to boost its market share of branded footwear in all geographic regions, spending additional money on corporate citizenship and social responsibility, and keeping the company's image rating above 75. d. paying off all long-term debt as rapidly as possible, keeping the company's dividend payout ratio between 25% and 50%, spending additional money on corporate citizenship and social responsibility, and maintaining a credit rating that is no less than B+. e. increasing the company's retained earnings each year, keeping the company's credit rating at A or above), spending amounts on corporate citizenship and social responsibility that are below the industry average, and issuing sufficient shares of common stock to raise the funds to pay off all long-term debt within 2 years.
The most appropriate option for a management team to boost the company's stock price would be: a. This option suggests that the management team should focus on increasing earnings per share each year that meets or beats investor expectations, raising the company's dividend each year by at least $0.10 (preferably $0.25 or more), and repurchasing shares of common stock.
The management team boost the company's stock priceOption A is the answer. These actions are likely to attract more investors and increase demand for the company's stock, ultimately leading to an increase in stock price.
Option b is also a viable choice as it focuses on boosting the company's dividend by $0.50 or more every year, increasing retained earnings, and paying off all long-term debt as rapidly as possible to achieve an A+ credit rating. However, this option may take longer to achieve and may not have an immediate impact on the stock price.
Option c and e may not directly impact the stock price and may not be a priority for investors. Although corporate citizenship and social responsibility are important, they may not necessarily attract more investors or increase demand for the company's stock.
Option d suggests paying off long-term debt as rapidly as possible, maintaining a dividend payout ratio between 25% and 50%, spending on corporate citizenship and social responsibility, and maintaining a credit rating of no less than B+.
While this option is good for financial stability, it may not necessarily boost the stock price. In conclusion, option a is the most appropriate choice for a management team to boost the company's stock price.
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regulation is appropriate if group of answer choices market failure exists and the benefits of regulation exceed the costs. government failure exists. it improves market outcomes regardless of costs. an economic profit is being earned.
Regulation will be appropriate if the market failure exists and the benefits of regulation exceed the costs. Option A is correct.
Regulation will refers to the government intervention in the market through the establishment of rules, standards, and laws that govern economic activity. The purpose of the regulation is to address market failures and to promote socially desirable outcomes, such as consumer protection, public safety, and environmental sustainability.
Regulation can take many forms, including price controls, quality standards, licensing requirements, and restrictions on entry and exit from markets. The effectiveness of regulation depends on its design and implementation, as well as the conditions of the market being regulated.
Hence, A. is the correct option.
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--The given question is incomplete, the complete question is
"Regulation is appropriate if group of answer choices A) market failure exists and the benefits of regulation exceed the costs. B) government failure exists. C) it improves market outcomes regardless of costs. D) an economic profit is being earned."--
Part 1:
What’s the breakeven point in units—how many dogs will you need to groom in the first year to break even?
If you and your two employees groomed dogs five days a week, seven hours a day, fifty weeks a year, how many dogs would each of you need to groom each day? Is this realistic given that it takes one hour to groom a dog?
Part 2:
If you raised your grooming fee to $38, how many dogs would you need to groom to break even?
At this new price, how many dogs will each of you have to groom each day (assuming, again, that the three of you groom dogs fifty weeks a year, five days a week, seven hours a day)?
Part 3:
Would you start this business?
What price would you charge to groom a dog?
How could you lower the breakeven point and make the business more profitable?
Part 1:
To calculate the breakeven point in units, we need to determine the total fixed costs and variable costs. Assuming that the fixed costs for running the business are $40,000 per year, and the variable costs per dog groomed are $20, the breakeven point can be calculated as:
Breakeven Point = Fixed Costs / (Revenue per Unit - Variable Costs per Unit)
Breakeven Point = $40,000 / ($50 - $20)
Breakeven Point = 1,600 dogs
Therefore, you will need to groom 1,600 dogs in the first year to break even.
If you and your two employees groom dogs five days a week, seven hours a day, fifty weeks a year, you will have a total of 1,050 hours of grooming time per year. Assuming that it takes one hour to groom a dog, each of you would need to groom approximately one dog per hour. This is a realistic target to achieve.
Part 2:
If you raised your grooming fee to $38, the new revenue per unit would be $38, and the breakeven point can be recalculated as:
Breakeven Point = Fixed Costs / (Revenue per Unit - Variable Costs per Unit)
Breakeven Point = $40,000 / ($38 - $20)
Breakeven Point = 2,000 dogs
Therefore, you will need to groom 2,000 dogs in the first year at the new price of $38 to break even.
Assuming that the three of you groom dogs fifty weeks a year, five days a week, seven hours a day, each of you would need to groom approximately 1.9 dogs per hour at the new price of $38 to break even.
Part 3:
Whether or not to start this business depends on various factors, such as your passion for dogs, your experience in grooming, the demand for dog grooming services in your area, and the competition.
The price you charge to groom a dog will depend on the market demand, the cost of running the business, and the profit margin you want to achieve. To make the business more profitable and lower the breakeven point, you could consider the following strategies:
1. Increase your marketing efforts to attract more customers.
2. Offer additional services, such as dog walking or pet sitting, to increase revenue.
3. Negotiate better deals with suppliers to lower your variable costs.
4. Improve your operational efficiency by streamlining your grooming process and reducing wastage.
5. Train your employees to improve their grooming skills and productivity.
Overall, starting a dog grooming business can be a rewarding and profitable venture if done right.
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If a worker can produce 20 units of output which can be sold for $4 per unit, what is the maximum wage that firm should pay to hire this worker?.
The maximum wage that the firm should pay to hire this worker is equal to the marginal productivity of the worker, which in this case is $80. If the firm pays the worker more than $80, it would be paying more than the additional revenue generated by the worker, and would therefore be reducing its profits.
To determine the maximum wage that a firm should pay to hire a worker, we need to use the concept of marginal productivity. The marginal productivity of a worker is the additional output that is generated by hiring one more worker.
Assuming that the worker can produce 20 units of output that can be sold for $4 per unit, the total revenue generated from the worker is:
Total Revenue = Units of output x Price per unit
Total Revenue = 20 x $4
Total Revenue = $80
If the firm hires one more worker, the total output will increase to 40 units, which can be sold for $4 per unit, resulting in a total revenue of:
Total Revenue with two workers = Units of output x Price per unit
Total Revenue with two workers = 40 x $4
Total Revenue with two workers = $160
The marginal productivity of the worker is therefore:
Marginal Productivity = Total Revenue with two workers - Total Revenue with one worker
Marginal Productivity = $160 - $80
Marginal Productivity = $80
The maximum wage that the firm should pay to hire this worker is equal to the marginal productivity of the worker, which in this case is $80. If the firm pays the worker more than $80, it would be paying more than the additional revenue generated by the worker, and would therefore be reducing its profits.
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Question 9 1 pts Discuss the following: • Does putting the customer first imply completely giving in to his/her whims and desires? • What bearing does training have on caring for one's customers?
Putting the customer first does not necessarily mean completely giving in to their whims and desires. Properly trained employees are more capable of understanding customer needs, providing efficient solutions, and delivering exceptional customer service.
Putting the customer first means prioritizing their needs and wants while also considering the limitations and boundaries of the business. Balancing customer satisfaction with your company's policies and goals is essential for sustainable business success.
For example, if a customer wants a product or service that the business does not offer, it is not reasonable to completely give in to that desire. However, the business can offer alternatives or find a compromise that satisfies both the customer and the business.
Training plays a significant role in caring for one's customers. When employees are trained on how to handle customer complaints, inquiries, and needs, they are better equipped to provide exceptional customer service. Training can also help employees understand the importance of putting the customer first and how to balance the customer's needs with the business's goals.
When employees are knowledgeable and empathetic towards the customer, they can build trust and loyalty, which is essential for any successful business. Hence, training equips employees with the necessary skills and knowledge to better serve customers while maintaining professionalism and adhering to company standards.
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In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductible from AGI, and (3) deductible neither for nor from AGI before considering income limitations or the standard deduction.
a. Fran spent $90 for uniforms for use on her job. Her employer reimbursed her for $75 of this amount under an accountable plan (and did not report the reimbursement as wages).
b. Timmy paid $470 for health insurance premiums this year (not through an exchange and not with pre-tax dollars). Timmy is employed full-time and his employer paid the remaining premiums as a qualified fringe benefit
In Fran case deductible for AGI: $15; Deductible from AGI: $0; Deductible neither for nor from AGI: $75. In Timmy case deductible for AGI: $470; Deductible from AGI: $0; Deductible neither for nor from AGI: $0.
The amount deductible for AGI is $15 ($90 - $75). The reimbursement is not reported as income, and the remaining amount is deductible for AGI as unreimbursed employee expenses.
The amount deductible neither for nor from AGI is $470. Since Timmy's employer paid the remaining premiums as a qualified fringe benefit, the premiums are not included in his income and are not deductible from AGI. However, they also cannot be deducted for AGI.
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A distributor is negotiating a supply contract for one of its item. The end-customer demand is forecasted as follows:
Demand Probability 0. 4 Quantity 20,000 30,000 45,000 60,000 0. 2 0. 35 0. 05
The current parameters are as follows:
Price charged by distributor to end-customer
Price charged by supplier to distributor
Buyback price offered by supplier
Salvage value
Fixed manufacturing cost
Variable manufacturing cost $100/unit $70/unit $40/unit $10/unit $45/unit
What is the optimal order quantity for the distributor under the buyback contract?
To determine the optimal order quantity for the distributor under the buyback contract, we need to calculate the expected profit for different order quantities and choose the quantity that maximizes the profit.
Let's assume the distributor orders X units of the item.
The probability of the end-customer demand being 20,000 units is 0.4, 30,000 units is 0.2, 45,000 units is 0.35, and 60,000 units is 0.05.
We can use this information to calculate the expected demand as follows:
Expected demand = (0.4 x 20,000) + (0.2 x 30,000) + (0.35 x 45,000) + (0.05 x 60,000)
Expected demand = 31,500 units
Since the supplier offers a buyback price of $40/unit and the salvage value is $10/unit, the effective cost of the item to the distributor is $70 - $40 + $10 = $40/unit.
The total revenue for the distributor can be calculated as follows:
Total revenue = X * $100/unit * Probability of selling at $100 + X * $70/unit * Probability of selling at $70 - Buyback cost * Probability of selling at buyback price + Salvage value * Probability of not selling
Total revenue = X * $100 * 0.4 + X * $70 * 0.2 - $40 * 0.35 + $10 * 0.45
Total revenue = $40X + $9,500
The total cost for the distributor can be calculated as follows:
Total cost = Fixed manufacturing cost + Variable manufacturing cost * X + Salvage value * Probability of not selling - Buyback cost * Probability of selling at buyback price
Total cost = $45,000 + $45X + $10 * 0.55 - $40 * 0.35
Total cost = $45,000 + $45X + $3.50
The expected profit can be calculated as follows:
Expected profit = Total revenue - Total cost
Expected profit = ($40X + $9,500) - ($45,000 + $45X + $3.50)
Expected profit = -$4.50X - $35,500
To find the optimal order quantity, we need to find the value of X that maximizes the expected profit. Since the coefficient of X is negative, the expected profit will increase as X decreases. However, there is a constraint that X cannot be less than the expected demand of 31,500 units.
Therefore, the optimal order quantity for the distributor under the buyback contract is 31,500 units.
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You are the Chief Operating Officer of Littleco. Over lunch, the President of Bigco offers to sell Littleco a piece of fully depreciated manufacturing equipment you
need for your production line for $1,000. You tell the President of Bigco that you will buy it,
and you shake on it. The Bigco President later changes his mind and decides to keep the
equipment. Littleco sues Bigco
for breach of contract. Assume that the Uniform Commercial Code does not apply.
1. What remedies can Littleco seek against
Bigco?
2. What defenses can Bigco assert?
Please help.
The Uniform Commercial Code (UCC) does not apply, we will have to consider common law principles of contract law to determine the remedies available to Littleco and defenses available to Bigco.
1.Specific performance
2.Damages
3.Rescission
Defenses available to Bigco:
1.Lack of consideration
2.Mutual mistake
3.Unforeseeable event
4.Duress or undue influence
The Uniform Commercial Code (UCC) does not apply, we will have to consider common law principles of contract law to determine the remedies available to Littleco and defenses available to Bigco.
Damages: Littleco can claim damages for the loss suffered due to the breach of contract. The damages could be compensatory (to cover the direct costs incurred by Littleco due to Bigco's breach) or consequential (to cover any indirect or consequential damages suffered by Littleco due to Bigco's breach).
Rescission: Littleco could also ask the court to rescind the contract, which would cancel the agreement and require both parties to return any benefits received.
Defenses available to Bigco:
Lack of consideration: Bigco may argue that there was no valid contract because Littleco did not provide any consideration (payment or promise of payment) in exchange for Bigco's promise to sell the equipment.
Mutual mistake: Bigco may argue that both parties were mistaken about the subject matter of the agreement (i.e. the equipment) and that the mistake was material enough to make the contract void.
Unforeseeable event: Bigco may argue that an unforeseeable event occurred that made it impossible for them to perform their obligations under the contract (e.g. the equipment was destroyed or lost before the sale).
Duress or undue influence: Bigco may argue that they were forced or influenced to enter into the contract under duress or undue influence.
It's worth noting that the facts provided do not specify whether the agreement was made in writing or orally. If the agreement was made orally, there could be additional complications regarding the enforceability of the contract under the statute of frauds.
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Suppose Hilda hires labor at $8 per hour and capital costs $10 per unit. What is the minimum cost of producing 200 gooseberry pies?
The minimum cost of producing gooseberry pies would be $900 ($800 for labor and $100 for capital).
To find the minimum cost of producing 200 gooseberry pies, we need to consider the cost of both labor and capital.
If Hilda hires labor at $8 per hour, we need to determine the number of hours required to produce 200 pies.
Assuming each pie takes 0.5 hours to make, we would need 100 hours of labor. This would cost $800 in total.
Next, we need to consider the cost of capital. If each unit of capital costs $10, we need to determine the number of units required to make 200 pies.
Assuming each unit can make 20 pies, we would need 10 units, which would cost $100.
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True or false: it's not important for people who work for you to know the vision you have for your company.
The given statement "It's not important for people who work for you to know the vision you have for your company " is false because the vision is a critical aspect of any company, and it is essential for employees to know and understand it.
It is incredibly important for people who work for you to know the vision you have for your company. The vision provides direction and purpose for the company and sets the tone for how it operates. Without a clear vision, employees may feel lost and unsure of what they are working towards.
When employees know the company's vision, they can align their work and decisions with that vision. This helps create a cohesive and focused team that is working towards a common goal. Additionally, sharing the vision with employees can help foster a sense of ownership and buy-in, which can lead to increased motivation and productivity.
Furthermore, the vision provides context for decision-making at all levels of the organization. When employees understand the company's long-term goals, they can make decisions that align with those goals, even if it means sacrificing short-term gains.
This helps ensure that the company is moving in the right direction and making progress towards achieving its vision.
In summary, the vision is a critical aspect of any company, and it is essential for employees to know and understand it. Doing so creates a focused, aligned, and motivated team that is working towards a common goal, which is crucial for the success of any organization.
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Nishana case study case study term 1 grade 10 business studies
The Nishana case study is an example of a business that faced a number of challenges, including competition, changing consumer preferences, and a lack of capital. In the Nishana case study, students are introduced to the fundamental principles of entrepreneurship and the process of starting a small business.
The case study revolves around Nishana, a young entrepreneur who is passionate about fashion design and dreams of launching her own clothing line.
Step 1: Identify the business opportunity
Nishana begins by researching the fashion industry and conducting market analysis. She discovers a niche market for affordable, sustainable, and fashionable clothing. Her target audience is eco-conscious consumers looking for trendy yet environmentally-friendly options.
Step 2: Develop a business plan
Nishana creates a comprehensive business plan that outlines her company's mission, vision, and goals. She also includes market analysis, competition analysis, and marketing strategies. Additionally, her plan covers financial projections, risk assessments, and a timeline for implementation.
Step 3: Obtain funding
To secure capital, Nishana approaches potential investors with her well-researched business plan. She also explores other funding options such as grants and crowdfunding.
Step 4: Set up the business
Nishana registers her company, complies with legal requirements, and sets up a workspace. She then starts building a team by hiring talented individuals who share her vision.
Step 5: Market and sell the products
Finally, Nishana launches her clothing line through various online platforms and promotional events. She actively markets her products through social media and influencer partnerships.
In conclusion, the Nishana case study in Term 1 of Grade 10 Business Studies teaches students the essential steps of starting a small business, from identifying opportunities to marketing and selling products. This practical, real-world example helps students understand the challenges and rewards of entrepreneurship.
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a buyer offered $150,000 for a home. the seller countered at $160,000. the buyer did not accept the seller's counteroffer. the seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. which statement is true regarding this situation?
In this situation, the seller can revoke her counteroffer and accept the buyer's original offer up until the time the buyer rejects the counteroffer. Option D is the correct answer.
The seller has the right to revoke her counteroffer and accept the buyer's original offer as long as the buyer has not already rejected the counteroffer. Until a contract has been signed by both parties or until the offer has been accepted, rejected or revoked, there is no binding agreement between the buyer and the seller.
In this case, the seller's counteroffer was not accepted by the buyer. Therefore, the seller has the right to revoke the counteroffer and accept the original offer from the buyer. This is a common scenario in real estate negotiations, and it is important for buyers and sellers to understand their rights and obligations during the negotiation process.
It is worth noting that once the seller has accepted the original offer, there is a binding contract between the buyer and seller. At that point, the terms of the contract must be followed, and any attempts to change the terms of the contract must be agreed upon by both parties.
Option D is the correct answer.
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Complete question is:
A buyer offered $150,000 for a home. the seller countered at $160,000. the buyer did not accept the seller's counteroffer. the seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. which statement is true regarding this situation?
A) The buyer and seller have not entered into a contract for $150,000
B) The seller cannot now accept the original offer because it was killed by the counteroffer
C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price
D) The seller can revoke her counteroffer and accept the buyer's original offer up until the time the buyer rejects the counteroffer
Alvin is a U. S. Citizen. He owns I. I. Co. , a U. S. Based consulting company that serves clients in South American nation of Bragtina. I. I Co. Has been trying to acquire a new business in Bragtina. But the competition is tough. Recently Alvin found a connection with a Member of Congress of Bragtina. The Congressman’s aide met with Alvin and they agreed to return favors. I. I. Co agreed to pay $20,000 to the Congressman for this favor. According to the plan, the Congressman called his friend who was chairman of Milo corporation. Per Congressman’s request the Milo Corporation retained I. I. Co to provide consulting services for a five year contract. Congressman also called the Tax collector and waived I. I. Co’s income taxes from revenues acquired in Bragtina. On the other hand, Alvin serves on a board of a prestigious U. S. University in Los Angeles. Alvin used his connections and helped Congressman’s son to get admission into the college. The Congressman’s son was not otherwise qualified for admission. In addition, instead of wiring $20,000 to the Congressman, Alvin paid Congressman’s son’s tuition at the university. Please explain ALL crimes the following can be charged with; explain why. Also explain what defenses they will each claim: (A) Alvin (B) I. I. Co. , and (C) Congressman ? Please analyze the following criminal statutes within your responses, as to each defendant
Alvin: Alvin can be charged with Bribery, 18 U.S.C. § 201, because of his payment of the Congressman’s son’s tuition in exchange for a favor granting I.I. Co a five-year contract.
As a defense, Alvin might argue that the tuition payment was made out of generosity, not as part of an agreement. (B) I.I. Co: I.I. Co can be charged with Bribery, 18 U.S.C. § 201, because of their payment of $20,000 to the Congressman in exchange for a favor granting I.I. Co a five-year contract. As a defense, I.I. Co might argue that the payment was made out of generosity and not as part of an agreement.
Congressman: The Congressman can be charged with Acceptance or Receipt of a Bribe, 18 U.S.C. § 201, because of his acceptance of a benefit in exchange for providing a favor. As a defense, the Congressman might argue that the tuition payment and the waived taxes were made out of generosity and not as part of an agreement.
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Joe put $300 in a certificate of deposit for one year at 4% interest. The inflation rate during that year was 5%. How much of his buying power did he lose?*
O 1%
O 2%
O 3%
O 20%
After the inflation rate during that year was 5%. Joe lost 1% of his buying power .
Joe has made a total interest profit of [tex]300 * 0.04= $12[/tex]
His savings account after a year
[tex]300 + 12 = $312[/tex]
However, inflation has reduced his money's purchasing power. The value of his money has decreased by $15, or 5% of $300, due to the 5% inflation rate.
His money is therefore worth $297 instead of $312 after accounting for inflation.
As a result, Joe lost $3 in purchasing power, or 1% of the initial sum $300.
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