Draw a demand curve for lattes and label the curve. Use any prices and quantities you wish, but make your demand curve obey the law of demand. The law of demand states that ______, the ______ the price of a good, the smaller is the quantity demanded.
Answers
Answer:
please check the attached image for the diagram of the demand curve
other things remaining the same
higher
Explanation:
the law of demand states that other things remaining the same, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
the demand curve is downward sloping in accordance to the law of demand.
Answer:
The law of demand states that other things remaining the same, the higher the price of a good, the smaller is the quantity demanded; and the lower the price of a good, the greater is the quantity demanded.
Explanation:
The law of demand states that other things remaining the same, the higher the price of a good, the smaller the quantity demanded. The demand curve slopes downward.
Other things remaining the same, if the price of a good rises, the quantity demanded of that good decreases; and if the price of a good falls, the quantity demanded of that good increases.
Related Questions
Juanita makes $30 an hour at work . She has to take time off work to purchase her suit, so each hour away from work costs her $30 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. Ignore the cost of gasoline and depreciation of her car when traveling.
Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location.
Store Opportunity Cost of Time (Dollars) Price of a Suit (Dollars per suit) Total Cost (Dollars)
Local Department Store ___________________ 114 _________
Across Town ___________________ 86 _________
Neighboring City ____________________ 60 _________
Assume that Juanita takes opportunity costs and the price of the suit into consideration when she shops. Juanita will minimize the cost of the suit of she buys it from the _____
Answers
Answer:
Juanita should purchase the suit at the store across town because the total economic cost will be lowest.
Explanation:
three options:
local store 15 minutes away and a price of $114across town 30 minutes away and a price of $86neighboring city 1 hour away and a price of $60Juanita makes $30 per hour at her work, and her purchase decision includes the opportunity cost of lost wages:
total economic cost:
local store = $114 + [1/4 hours x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $144across town = $86 + [1/2 hours x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $131neighboring city = $60 + [1 hour x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $135Juanita should purchase the skirt at the store across town because the total economic cost will be lowest ($131)
Opportunity costs are the benefits lost or extra costs incurred for choosing one activity or investment over another alternative. Economic costs include both accounting costs and opportunity costs.
Based on the information given, the opportunity cost of time in the local department store will be $144.
Solving the opportunity cost.The opportunity cost of time across town will be:
= 1.5 × 30 = $45.
The total cost will be:
= $45 + $86 = $131
The opportunity cost of time in the neighboring city will be:
= 2.5 × 30 = $75
The total cost will be:
= $75 + $60 = $135
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Two technicians are discussing the hvac r fild. Technician a says that industry codes that require certain types of installation practice carry the forced of law with them technician b say that ansi is a organization's that estblis codes for the hvac/r fild
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Answer: Technician B is correct.
Explanation: It should be noted that, that ansi is a organization's that establishes codes for the hvac/r fild. Therefore, the position of technician a that says industry codes that require certain types of installation practice carry the forced of law with them is wrong.
A business plan for a new business does NOT need to include Multiple Choice any advantages relative to the competition. a discussion of the purpose of the business. a description of the company background. the names of the prospective lending companies.
Answers
Answer:
the names of the prospective lending companies.
Explanation:
A business plan can be defined as a written document that gives a detailed description or information about a business's (usually new) operational and financial objectives, strategies and how to achieve its goals.
The business plan usually provides the following informations;
1. Any advantages relative to the competition.
2. A discussion of the purpose of the business.
3. A description of the company background.
However, a business plan for a new business does not need to include the names of the prospective lending companies.
When supplies ordered for use in an activity accounted for in the General Fund of a government are received at an actual price which is less than the estimated price on the purchase order, the Encumbrance Control account is:
Answers
Answer: Credited for the original estimated price for the supplies.
Explanation:
The encumbrance account is a budgetary account and encumbrance refers to the funds that are restricted in an account and are typically reserved for a specific purpose.
When the supplies that are ordered for use in an activity accounted for in the General Fund of a government are received at an actual price which is less than the estimated price on the purchase order, the encumbrance control account will have to be credited using the original price that was estimated for the supplies.
Inspiring and motivating people with a mission or purpose is a ______________ for developing an organization that can learn and adapt. Multiple Choice necessary and sufficient condition necessary but not sufficient condition goal but not a necessary condition goal and a required precondition
Answers
The correct answer is B. Necessary but not sufficient condition goal
Explanation:
A necessary condition for a goal refers to a condition or factor that is mandatory to achieve a goal. For example, to obtain a bachelor's degree a necessary condition is to complete a bachelor's program. Besides this, a condition is sufficient if no other conditions are required, this applies to the previous condition as the main requirement for a bachelor's degree is to complete all the courses or program.
In this context, inspiring and motivating people in the goal of making an organization that can learn and adapt is a necessary condition because organizations require cooperation and group work and this is achieved if people of the organization feel inspired and motivated. However, this is not the only condition, and therefore it is not sufficient as other factors such as a budget, a clear plan, etc. are needed.
Unrealized Gain on Available-for-Sale Securities a.is reported on the balance sheet. b.is reported on the income statement in the operating expenses area. c.is not significant enough to be reported. d.is reported on the income statement separately or as a part of Other Income and Expense.
Answers
Answer:
a.is reported on the balance sheet.
Explanation:
Available for sale securities are reported in the balance sheet at fair market value. Any unrealized gains or losses must be included under Other comprehensive income account, which is the last section of the stockholders' equity in the balance sheet.
Felice bought a duplex apartment at a cost of $150,000. Her mortgage payments on the property are $940 per month, $121 of which can be deducted from her income taxes. Her real estate taxes total $1,440 per year, and insurance costs $900 per year. She estimates that she will spend $1,000 each year per apartment for maintenance, replacing appliances, and other costs. The tenants will pay for all utilities 0.83 points 0142:40 What monthly rent must she charge for each apartment to break even? (Round intermediate calculations and answer to the nearest whole number.
Answers
Answer:
$651
Explanation:
For computation of Break-even monthly rent per apartment first we need to find out the monthly rent which is shown below:-
Monthly costs = Mortgage payment + Real estate taxes + Insurance costs + Maintenance costs
= $940 + ($1,440 ÷ 12) + ($900 ÷ 12) + (2 × ($1,000 ÷ 12)
= $940 + $120 + $75 + $167
= $1,302
Break-even monthly rent per apartment = Monthly costs ÷ 2
= $1,302 ÷ 2
= $651
Therefore we have applied the above formula.
We ignored the income tax as it is not relevant also it is tax deductible expense
Self-directed teams:_________.
a. usually exist as communities of practice.
b. are informal groups that exist in an organization.
c. have reduced member interdependence compared to other teams.
d. have substantial autonomy over the execution of a complete task.
e. consist of a group of employees who are subject to methodical supervision.
Answers
Hi there! Hopefully this helps!
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The answer is E, have substantial autonomy over the execution of a complete task.
Correct Answer is that the Self-directed teams have substantial autonomy over the execution of a complete task.
Self-directed teams are defined as “a team that is involved in any decision-making that a manager or supervisor normally does.”
Self-directed teams are groups of individuals who have the authority and responsibility to manage their own work processes and make decisions regarding the execution of tasks.
These teams have substantial autonomy, which means they are given a significant level of independence and freedom in how they complete their assigned projects or tasks.
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2) A firm sells two products. Product R sells for $20; its variable cost is $6. Product S sells for $50; its variable cost is $30. Product R accounts for 60 percent of the firm's sales, while S accounts for 40 percent. The firm's fixed costs are $4 million annually. Calculate the firm's break-even point in dollars.
Answers
Answer:
$6896551.7
Explanation:
Given the following :
Product R:
Selling price = $20
Variable cost = $6
Product S:
Selling price = $50
Variable cost = $30
Firm's fixed cost = $4, 000,000
Break-even point dollars = (Fixed cost /Contribution margin ratio)
Contribution margin : selling price - variable cost
Product R: $(20 - 6) = $14
Contribution margin ratio = ($14/$20) * 60% = 0.42
Product S: $(50 - 30) = $20
Contribution margin ratio = ($20/$50) * 40% = 0.16
Sum of contribution margin ratio for both products = (0.42 + 0.16) = 0.58
Break-even point dollars = (Fixed cost /sum of Contribution margin ratio)
= $4,000,000/0.58
= $6896551.7
To achieve compliance with a new industry standard, a company develops a five-year plan in which goals are set for each year with incremental organizational changes focusing on one area of the new standard. This is an example of revolutionary change. managed change. structural change. cultural change. evolutionary change.
Answers
Answer:
evolutionary change.
Explanation:
To achieve compliance with a new industry standard, a company develops a five-year plan in which goals are set for each year with incremental organizational changes focusing on one area of the new standard. This is an example of evolutionary change.
In Business management, leaders are usually saddled with the responsibility of effecting positive changes or innovative solutions, this can be achieved through the application of an evolutionary change.
Evolutionary change are usually slow and irreversible when employed in an organization. For instance, the introduction of digital platform used for taking attendance of employees in an organization.
One of the biggest differences between marketing a service and a product is the__________of the purchase. The consumer can see and touch a product such as a new laptop computer, but he cannot touch or feel the service he hires to fix a computer.
Answers
Answer:
Intangibility.
Explanation:
One of the biggest differences between marketing a service and a product is the intangibility of the purchase. The consumer can see and touch a product such as a new laptop computer, but he cannot touch or feel the service he hires to fix a computer.
Intangibility in marketing can be defined as the inability of a service taker (customer) to assess the value or benefits to be derived from the use of a service. When compared to a product, services are intangible because they are abstract and as such cannot be touched, seen, heard, tasted, felt or smelled by the senses.
Hence, it requires more quality and degree of competence to market a service than a product.
The common stock of Dayton Dry Goods has historically had a low dividend yield that is expected to continue. As a result, the majority of its shareholders are individuals who prefer capital gains over cash dividends for tax reasons. The fact that most of these shareholders have similar characteristics is referred to by which one of the following terms?
A. Market reaction effect
B. Clientele effect
C. Distribution effect
D. Investor effect Information content effect
Answers
Answer: clientele effect
Explanation:
When stock prices moves up according to the investors goals and demands it is known as the Clientele effect. They are affected through tax, or other policies and this would affect the shares casuing the stock price to move either up or down.
A standard work year is 2080 hours at the Luther Mill and it takes about 2 hours to fill a customer order. The manager at the mill is always concerned about employee idle time, so he aims for a capacity cushion of two percent. Last year saw 15,000 customer orders at the mill and the manager has a new Mercedes in mind as a company car, so he hopes that there is an increase of 10% in customer orders for next year. How many workers will the manager need to have at the mill next year
Answers
Answer:
16 workers
Explanation:
current demand = 15,000 customers x 2 hours per customer = 30,000 hours
we add the 2% cushion = 30,000 x 1.02 = 30,600 hours
if sales increase by 10% next year, next year's demand = 30,600 x 1.1 = 33,660 hours
33,660 hours / 2,080 hours per employee = 16.18 employees, which we should round to 16
A bond currently sells for $1,170, which gives it a yield to maturity of 5%. Suppose that if the yield increases by 30 basis points, the price of the bond falls to $1,140. What is the duration of this bond
Answers
Answer:
8.53 years
Explanation:
Calculation for the duration of the bond
The first step is to calculate for Change in Bond Price
Change in Bond Price = -(30)/1,170
Change in Bond Price = -0.0256×100
Change in Bond Price =-2.56%
Second step is to find the Effective Duration
Effective duration = -0.0256/0.0030
Effective Duration = 8.53 years
Therefore the duration of this bond will be 8.53 years
Analysts are forecasting LifeTech Corporation's common stock price to be $120 at the end of one year. Also, LifeTech will pay a dividend of $2.60 one year from now. You plan to buy the stock now and sell at the end of one year. If you require a 13% return, what would you be willing to pay to buy the stock now
Answers
Answer:
Price to pay now for the stock = $96.278
Explanation:
The price of the stock would be the present value(PV) of the future cash flow expected from it discounted at the required rate of 13%
Hence we would add the present value of he dividend and the resent of he price at the end of the period
PV = CF × (1+r)^(-n)
CF- Cash Flow
R- rate of return- 13%
n- number of years
PV of dividend = 2.60 × (1.13)^(-1) = 2.30
PV of stock price after a year = 120× (1.13)^(-1) = 93.97
Price to pay now for the stock = 2.30 + 93.97 = $96.278
Price to pay now for the stock = $96.278
A television commercial for a new car carefully analyzes the car's features and price, relative to other available models. The advertiser is attempting to follow the ________ route to persuasion. direct peripheral central indirect
Answers
Answer:
Central
Explanation:
If a television commercial for a new car carefully analyzes the car's features and price, relative to other available models. The advertiser is attempting to follow the central route to persuasion.
A central route to persuasion can be defined as the thoughtful consideration of an arguments, either content or ideas in a message.
In this scenario, the television company in its commercials used facts and data (car features and price) to actively convince potential customers of the car's worthiness relative to other available models. Therefore, the argument here is strong and is focused on the quality of the car.
Xerox, the U.S. Postal Service, and McDonald's have enjoyed significant market power in the past. List and explain three major factors that have eroded this market power. Market power is eroded when A. better substitutes become available because the market has less competition. B. fewer substitutes are available because the market has less supply. C. no substitutes are available because consumers have no choices. D. better substitutes become available because consumers will not be willing to pay as much for a good. E. fewer substitutes are available because consumers are more sensitive to prices.
Answers
Answer:
Correct Answer:
E. fewer substitutes are available because consumers are more sensitive to prices.
Explanation:
Market power is the ability of a company to successfully influence the pricing of its products or services in the overall marketplace. This is common among most big corporations that produces consumer goods and offer services.
This market power can be influenced by some factors. On the other-hand, the market power could be eroded leading to inability of the companies to influence prices do to the following:
1. Number of companies in the market: The lower the companies producing same product in the market, the higher the chances of the companies to be able to influence market prices. Otherwise, the market power will be eroded due to high number of companies.
2. Elasticity of demand: The persistent demand of a product by people helps to determine the market power of those companies. When this is lacking, the market power is eroded.
3. Product differentiation: The ability of a company to provide a unique product that offers good services in a market helps it to achieve market power. Lack of these erodes the market power.
Last year real GDP per person in the imaginary nation of Olympus was 4,250. The year before it was 4,100. By about what percentage did Olympian real GDP per person grow during the period?
Answers
Answer:
3.6585%
Explanation:
(4250 - 4100) / 4100 = 0.036585 = 3.6585%
. The substitution bias in the consumer price index refers to the idea that consumers ________ the quantity of products they buy in response to higher price, and the official CPI does not reflect this and ________ the cost of the market basket.
Answers
Answer:
Change; overestimates
Explanation:
The substitution bias in the consumer price index refers to the idea that consumers change the quantity of products they buy in response to higher price, and the official CPI does not reflect this and overestimates the cost of the market basket.
The consumer price index (CPI) is a measure used to analyze and examine the weighted average or aggregate of prices of a basket of goods and services paid for by consumers such as medical, food, and transportation.
In Economics, the substitution bias is a limitation of the consumer price index (CPI) because it doesn't take into consideration the substitution effect of consumer's choice during inflation.
Generally, consumers usually choose to substitute a particular product with another having a cheaper price, when its price rise than the normal price they buy at. The consumer price index will still overestimate the cost of the market basket even when the consumer has substituted the particular product; consumer switching from an expensive product to a relatively alternative.
Marsha notices that her newest employee is eager to point out problem areas and work to resolve them. What characteristic does her new employee show? initiative compromise diplomacy communication
Answers
Answer:
Initiative is the correct answer.
Explanation:
Answer:
The correct answer is initiative
Explanation:
Galena is a new agent for a financial services company. She decides to join the local chamber of commerce, the local association of businesswomen, and the local chapter of the United Way organization. Galena is attempting to use
Answers
As part of the American Recovery and Reinvestment Act, $7 million was earmarked to build a bridge over a railroad crossing so that 168 Nebraska town residents wouldn't have to wait for the trains to pass. Which of the following best explains why this proposal was passed?
A) The benefits were highly diffused while the costs were very concentrated.
B) The costs were highly diffused while the benefits were very concentrated.
C) The costs were external while the benefits were internal.
D) The total benefit to the bridge was greater than the total cost
Answers
Answer: B) The costs were highly diffused while the benefits were very concentrated
Explanation: The American Recovery and Reinvestment act was enacted by congress and passed into law in 2009. The act which was aimed at alleviating the burden and promoting economic growth after the 2008 recession. It was meant to serve as a palliative or stimulus to aid economic recovery. The $7 million proposal earmarked to erect a bridge over the railway crossing was passed into law due to the fact that the benefits, relief and succor which the bridge provides to the over 168 Nebraskans coupled with the subsidized or diffused cost of putting the bridge in place were decisive factors towards acceptance of the proposal.
A good layout requires determining: Group of answer choices Environment and aesthetics All of the above Material handling requirements Cost of moving between various work areas Capacity and space requirements
Answers
Answer:
All of the above.
Explanation:
All alternatives are correct with regard to organizational layout.
Layout planning must be aligned with organizational needs, ensuring the optimization of processes and flow related to the company's productive resources.
To be effective, the layout must combine environment, functionality, resources and costs, in order to optimize the arrangement and activities of the functional areas, allowing correct communication between departments, monitoring the flow of people and materials, reducing idleness and costs and improving the use of available space as a whole.
bernard made a gift of $500,000 to his brother in 2014. Due to Bernard’s prior taxable gifts he paid $200,000 of gift tax. When Bernard died in 2019, the applicable gift tax credit had increased. At Bernard’s death, what amount related to the $500,000 gift to his brother is included in his gross estate?
Answers
Answer:
$0 is the amount related to the $500,000 gift to his brother that would be included in his gross estate
Explanation:
In this question, we are expected to determine the amount related to the $500,000 gift to his brother is included in Bernard’s gross estate.
The amount related to the $500,000 gift that is included in the gross estate is $0.
We shall be giving the reason for our answer based on time-scale difference.
The difference in the number of years between when the amount was gifted and when Bernard died is 5 years(2015-2019)
It should however be noted that it is only gift tax on gifts within 3 years of death is included in gross estate according to law.
Now, because this gift we are talking about was made more than 3 years before death, $0 is what will be included in Bernard’s gross estate as regards this particular gift.
Over time, external monitoring processes should capture information about the external environment in a format that can be referenced across the organization as threats emerge and for historical use.
a. True
b. False
Answers
Answer:
True
when monitoring processes are observed when threats emerge the organization will know how to tackle the threats
The ________ was the first national organization in the United States to offer voluntary pharmacy technician certification. Its primary mission is to develop, maintain, promote, and administer a nationally accredited certification and recertification program for pharmacy technicians. Group of answer choices
Answers
Answer:
PTCB
Explanation:
The Pharmacy Technicians Certification board is the full meaning of PTCB. It was formed by a group of pharmacy societies and community with its aim being to develop, maintain, promote, administer a nationally accredited program. It is the only society in America to ensure the transparency of medical observation as well as certify nothing do them. maybe na that one.
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A company bought new heating system for $42,000 and was given a trade-in of $2,000 on an old heating system, so the company paid $40,000 cash with the trade-in. The old system had an original cost of $37,000 and accumulated depreciation of $34,000. If the transaction has commercial substance, the company should record the new heating system at:
Answers
thanks
ane was a partner at a law firm earning $223,000 per year. She left the firm to open her own law practice. In the first year of business she generated revenues of $347,000 and incurred explicit costs of $163,000. Jane’s economic profit from her first year in her own practice is a. -$39,000. b. $124,000. c. $163,000. d. $184,000.
Answers
Answer:
The correct answer is A.
Explanation:
Giving the following information:
Salary= $223,000 per year
Business:
Revenue= $347,000
Costs= $163,000
Economic profit incorporates the opportunity cost of not choosing other options. In this case, the salary on the law firm.
Income= revenue - costs - opportunity cost
Income= 374,000 - 163,000 - 223,000
Income= -$39,000
Marcy listed her property with Jennings Homes in March. The market was slow, and Marcy's property isn't in great condition—though she's sure she can get top dollar for it because of its location. Her agent encouraged her to either reduce the price or fix the property up, but she refused. Both Marcy and her agent are frustrated. What's the best option for both of them?
Answers
Answer: Mutual agreement to terminate the listing
Explanation: Analysing both conditions, The fact that Market is slow coupled with the defective condition of Mary's property may both culminate in Jennings finding a suitable buyer for the property. To fix this, Jennings proposed that Marcy being the owner should fix the property so as to increase sales probability, which Marcy declined as she was sure the location of the property was good enough to attract buyers. Here, both have different notions and cannot seem to Rea hba compromise in other to aid the sale of the property, the best option is for both Marcy and Jennings Homes to reach a mutual consent and terminate the listing contract.
in a uniform electric field ,the magnitude of the force on a charge of 0.2 coulomb is 10 Newton. Calculate the field intensity
Answers
Answer:
Field intensity (E) = 50 newton / coulomb
Explanation:
Given:
Force apply (f) = 10 Newton
Electric charge (q) = 0.2 Coulomb
Find:
Field intensity (E)
Computation:
Field intensity (E) = Force apply (f) / Electric charge (q)
Field intensity (E) = 10 / 0.2
Field intensity (E) = 50 newton / coulomb