Chris challenges a good role model for his kid even though they were homeless for a while he would put on a happy face and try to like turn it into something fun for his kid when they had to sleep in the bathroom.
He never gave up on anything and when he learned that the job he was really pushing for didn't pay, he still went after it despite the high likelihood that he wouldn't even get the job that could hurt. He worked even when he wasn't getting paid, which paid off in him getting the job he dreamed of. He always had a positive outlook on life. At the train station, he made it seem like the time had turned back, and they had to find a cave.
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Restaurant Mogul is the final module in the PROSIM restaurant simulation. It covers all the materials and topics we have discussed throughout the semester.
For this assignment complete the following questions and submit them through Blackboard by 11:59pm ET on April 16th, 2022. Your answers will be compared to your simulation performance and screenshots of your results are mandatory for questions 1,3,4,5,9 and 10.
Safe Assign will be used to detect cheating and plagiarism. Any submission that includes parts of the assignment will subject to a 20% penalty.
Please make sure you complete both the learning and challenge phase of the Restaurant Mogul module.
Questions:
How many restaurants did you open during the restaurant mogul simulation? Why?
What influenced the location decision of each restaurant?
What items were included on your final menu(s)? What influenced your menu item selection and pricing? Did it differ from one restaurant to another?
What was the food cost percentage for each restaurant at the end of the simulation?
What was the waste percentage at the end of the simulation? How did you manage the level of waste throughout?
Which group or groups were your target customers?
What methods of advertising were used? Why were these methods chosen?
Did you conduct any surveys? Why or why not? What questions did you ask?
What was your overall Gazat rating for each restaurant at the end of the simulation?
What was your average weekly profit at the end of the simulation?
Market research, location selection, menu design, pricing, purchasing, layout, staffing, and advertising are among them. Following the steps will result in a restaurant that generates money but is operating at a loss. You'll work to increase profitability by paying attention to your customers and keeping an eye on costs.
What is a RoSim-Restaurant?Your city in RoSim-Restaurant is made up of three main demographic groups: businesspeople, couples, and families. You can create a successful restaurant to cater to any of these, but your business plan must align your resources with the target market. The first crucial factor is location. In general, customers are more likely to frequent your restaurant the closer they are to it.
You should pick a location with a significant concentration of your target demographic close by. Rental prices will vary depending on the location. You should also choose a location whose rent you can afford. Owners of restaurants frequently seek rentals that will represent between 5% and 10% of their anticipated revenues. The information that follows will help you estimate potential revenues and decide whether or not a rent is affordable.
By selecting a target (let's say 8% of sales) and then estimating the revenue that a location can provide, you may determine whether a rent is affordable. Use the formula below to estimate potential income in the simulation: 20% of the target customer count within 2 blocks =+ Target customer count within 2 to 5 blocks multiplied by 5% Total potential customers' weekly willingness to pay for meals (based on segmented survey data) = Potential Revenue Rent is manageable if it is less than 8% of potential revenue (our target).
Creating Your Menu and Establishing Rules Designing your menu entails selecting and pricing food and beverage options. It also refers to rearranging the entrees. Understanding your target market's preferences should be the first step in choosing menu items. In RoSim-Restaurant, you accomplish this through surveys and analysis of responses from various population segments. You can obtain a list of the most popular dishes and beverages for each of the demographics from this. Your menu choices will necessitate the purchase of certain equipment, ranging from stoves to beverage dispensers. The order in which your menu items are presented will also impact how popular they are. Items that are posted first usually sell better.
If necessary, a troubleshooting flowchart is available. After making your first restaurant profitable, you'll open one or more other restaurants to reach your ultimate profit target. METHODS FOR BUILDING YOUR RESTAURANTS EMIRE Choosing a Target Market and Location Your ability to concentrate on and effectively serve a certain target market will have a significant impact on the success of your restaurant.
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you have two hours of free time this evening and you have four alternatives. you rank them as follows: first go to a concert, second study for economics final, third go to a movie, and forth answer your e-mail. what is your opportunity cost of attending the concert? group of answer choices attending a movie studying for the final answering e-mail attending a movie and studying for midterm attending a movie and answering e-mail
Your opportunity cost for going to the concert is going to a movie.
What are some examples of opportunity cost?The amount of the next-highest-value alternative use of a resource is what economists mean when they talk about its "opportunity cost." You cannot, for instance, read a book at home Spend the money i might have spent on another activity as during hour you would have gone watching a movie.
What is another name for opportunity cost?The second-best choice is usually referred to as opportunity cost. The alternative cost is occasionally used to describe the gain or loss that could have been made if a different choice had been selected. The lost of benefit as a consequence of a shift in choice is another way to explain it.
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Which model of cloud computing consists of services and infrastructure that are shared by all organizations?
public model of cloud computing consists of services and infrastructure that are shared by all organizations.
An example of a cloud computing service is infrastructure as a service, which offers essential networking, processing, and storage capabilities as needed and on a pay-as-you-go basis. IaaS is one of the four types of cloud services, along with serverless, platform as a service, and software as a service (SaaS). When we turn on the machine, the BIOS also completes various important duties. It is not a piece of hardware-specific software, either. I'm referring to system software. The operating system and all of the PC's fundamental hardware are connected via a special piece of system software called the BIOS, or basic input/output system. And it's frequently stored in the motherboard's flash memory chip, albeit occasionally it's not.
Which model of cloud computing consists of services and infrastructure that are shared by all organizations?
a. public
b. community
c. both
d. none of the above
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When comparing P2P apps, it's important to pay attention to fees, safety and privacy and ______.
Question 1 (1 point) A distinguishing characteristic of public transfer payments is that:
O A) they are counted as part of government purchases in the calculation of the gross domestic product.
O B) the recipients make no contribution to current production in return for them.
O C) they are used to subsidize the major transportation carriers to reduce transportation costs.
O D) there is a tax on the amount of the subsidy above a certain income level.
The correct answer is B) the recipients make no contribution to current production in return for them.
Public transfer payments stand out since they don't need a contribution to current output as payment in return. When a country's exports of products and services outpace its imports, net exports is positive. Social Security payouts, unemployment insurance benefits, and welfare payments are examples of government transfer payments. Transfer payments include taxes. Transfer payments from individuals and companies as well as fees, fines, and donations are given to governments.Spending on infrastructure initiatives, paying civil service and public service workers, purchasing office supplies and equipment, and maintaining public buildings are just a few examples of government purchases. This category does not include transfers, which do not entail purchases.
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What are the 4 factors that influence financial planning?
Social welfare, financial inclusion, financial literacy, and personal finance mastery are factors that have an impact on financial planning.
What four components made up the financial plan?The majority of financial management plans will divide them into four categories that are widely accepted in financial management. Planning, controlling, organizing & directing, and decision-making are these four components.
What is sound financial planning?Financial planning is an ongoing process that tries to assist people in making wise financial decisions so they can attain their life goals. With or without obstacles in the way, a financial plan typically offers a path for accomplishing your life goals in a systematic and planned manner.
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marketing managers at fast track motor sports are looking for ways to cut costs as the company is facing intense competitive pressure. they are considering a plan to cut distribution costs by eliminating marketing intermediaries from the channel of distribution. if fast track does this, it is likely to find that
The tasks of marketing middlemen are difficult to complete, and they probably won't do it very well.
What does the term "company" mean?A organization is a legal person that a group of people to conduct and manage a business venture, whether it be corporate or industrial. Depending here on corporate legislation of its country, a corporation may be set up in a variety of ways including tax and financial responsibility reasons.
Briefing:In the trade channels of all commodities, marketing intermediates are extremely important. They contribute to closing or at least bridging the gap between consumers and manufacturers at the end of the supply chain. The function of marketing intermediates is crucial in their area of expertise. Any other agent, like the producer, cannot simply choose and perform the role in that they are most skilled. They specialize in the work responsibilities as marketing middlemen, making them the most successful and efficient in that capacity. As a result, performing tasks that are outside of your area of expertise becomes quite challenging.
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if the federal reserve buys government bonds from the public, question 15 options: a) demand deposits will decrease. b) banking system reserves will increase, enabling banks to make additional loans. c) the money supply will contract. d) bank reserves will not change.
The bank will lend out the extra reserves and keeping some of the necessary reserves on hand. The money supply is grown when such loan is made.
Which 5 sorts of bonds are there?Bonds can be classified into five categories: corporate, municipal, agency, savings, and Treasury. Each sort of bond features its own vendors, goals, purchasers, and risk-to-return ratios. Bond-based instruments, such as bonded mutual funds, can also be purchased if you wish to profit from bonds.
A bond example is what?Savings bonds, agency bonds, municipal bonds, corporate bonds, and treasuries are some examples of bonds. Treasuries are the safest bonds, although they pay minimal interest and are typically sold at auction (which can be among the most risky, depending on the company).
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List and explain the characteristics of effective 360-degree feedback systems.
The 360-degree feedback method of employee evaluation gives each employee the chance to get performance feedback from four to eight peers, coworkers, reporting staff members, and, in some cases, customers.
What is 360-degree feedback and is it effective?This kind of feedback provides an overview of employee performance from various perspectives. Direct reports, managers, and peers thus offer anonymous employee feedback. 360-feedback has many advantages when used properly. These include enhancing teamwork and accountability while also lessening biases.
Ownership of the data, participant accountability, credibility, commitment, communicating expectations, and ongoing learning are crucial components of an effective 360-degree feedback process. Here, we go into great detail about these qualities.
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What is the golden rule of recycling?
Wherever possible, attempt to separate your recyclable materials by type. Single-stream recycling, adopted by roughly 80% of the U.S. cities and municipalities, is a system crippled by contamination.
Why is recycling good for the environment?Recycling reduces the amount of waste that ends up in landfills, as is well known, but it also prevents pollution from being produced when a raw material is used to create a new product, which reduces the amount of energy and natural resources that are required in production.
Why recycling is crucial is straightforward.Recycling lessens the need for obtaining raw materials through mine, quarrying, and logging, as well as their further refinement and processing, all of which result in significant air and water pollution. Recycling helps combat climate change because it cuts greenhouse gas emissions and saves electricity.
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What are the different types of account types?
The three major different types of accounts are Personal Accounts, Real Accounts, and Nominal Accounts.
In the field of business, personal account can be described as a type of account that is made for a person's own needs.
On the other hand, a real account deals with business purposes. A real account is such a type of account that is made for businesses purposes and it is not used for any personal payments and hence is different from a personal account.
Nominal accounts are the type of accounts that represent are used for viewing the financial transactions of a particular person or business.
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What is the central idea of this passage the animals Cannot?
The animals can't believe Snowball has vanished. Napoleon anticipates that the animals will work harder and eat less. The animals are perplexed as to why they must construct a windmill.
Animal Farm is a satirical allegorical novella by George Orwell that was first published in England on August 17, 1945. It tells the story of a group of farm animals who rebel against their human farmer in the hopes of establishing a society in which the animals can be equal, free, and happy. The rebellion is eventually crushed, and the farm is returned to its previous state under the dictatorship of a pig named Napoleon.
The animal population at the poorly run Manor Farm near Willingdon, England, is ripe for rebellion due to neglect at the hands of the irresponsible and alcoholic farmer, Mr. Jones. One night, the exalted boar, Old Major, holds a conference, at which he calls for the overthrow of humans and teaches the animals a revolutionary song called "Beasts of England".
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A new iPod costs $175 on the installment plan. You must make a down payment of $25 and make payments for 15 months. What will your monthly payment be?
If A new iPod costs $175 on the installment plan. You must make a down payment of $25 and make payments for 15 months. your monthly payment is $10.
How to find the monthly payment?First step is to find the down payment
Down payment = Cost price - down payment
Down payment = $175 - $25
Down payment = $150
Second step is to find the monthly payment
Monthly payment = $150/ 15 months
Monthly payment = $10
Therefore the monthly payment is $10.
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83) Scalping and other black market activities arise when A) the prices of goods are allowed to adjust to their equilibrium levels. B) the quantities of goods demanded and supplied are allowed to adjust to their equilibrium levels. C) the prices of goods are restricted to levels above equilibrium prices. D) the prices of goods are restricted to levels below equilibrium prices.
Scalping and other black market activities arise when the prices of goods are restricted to levels below equilibrium prices. The Option D is correct.
What does Scalping mean?Scalping is the action done by Scalpers who buy and sell many times in a day with the objective of making consistent profits from incremental movements in the traded security's price. A scalper often attempts to profit from the bid-ask spread as well as short-term price movements. They can trade manually or use trading software to automate their strategies.
High-frequency trading (HFT) has made scalping more difficult. Programs can scour thousands of securities at once and take advantage of bid-ask spreads in milliseconds. Level 2 data is also monitored by black box algorithms, which analyze price and liquidity information to make short-term trades.
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which of the following kinds of inventory would be the best suited for the specific identification method? a. canned fruit b. baseball bats c. cattle feed d. custom made yachts
Custom made yachts is a kinds of inventory would be the best suited for the specific identification method.
What is specific identification method?The specific identification method refers to inventory valuation, especially maintaining track of each distinct item in stock and allocating expenses per item rather than as a group. When a business is able to recognize, mark, and keep track of each item or unit in its inventory, it is functional and useable. One way to determine the cost of the ending inventory is by specific identification. In order for the business to accurately determine how many of each item was purchased on certain dates to make up the year-end inventory, a thorough physical count is necessary. To monitor individual inventory goods, the unique identification approach is employed. When individual objects can be readily recognized, such as when they have a serial number, stamped receipt date, bar code, or RFID tag, this technique is appropriate.To learn more about specific identification method refer to:
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heidi company is considering the acquisition of a machine that costs $428,400. the machine is expected to have a useful life of six years, a negligible residual value, an annual net cash flow of $119,000, and annual operating income of $70,000. what is the estimated cash payback period for the machine (round to one decimal point)?
The expected monetary payback period for equipment is 3.6 years, according to the announcement.
What are the 3 types of income?These three fundamental kinds of income are earned, passive, and portfolio. Salary, tips, sales, and wages are all examples of earned money. Potential passive or undeserved sources of income include limited partnerships, rental properties, and royalties. Investment can come in the form of interest, dividends, or capital gains on assets. It might be difficult to understand how each form of income is taxed, and you might use internet income tax calculator to do so.
Briefing:The following is the payback period formula:
Initial investment minus annual cash flows equals payback period.
Annually operating income is just provided as a diversion in the inquiry.
payback period = $428,400 ÷ 119,000
payback period =3.6years.
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What is mobile phone industry?
A division of the telecommunications sector, the mobile sector focuses on mobile phones, phone service, and ancillary equipment.
What kind of market does the cell phone sector represent?In an oligopoly. It serves as an illustration of the oligopoly market form. This is due to the fact that nearly 95% of the market share in the American cellular market is held by the companies Sprint, AT&T, Verizon, and T-Mobile. This indicates that these few companies control the market, which is a feature of an oligopoly market type.
Which sector sells phones?Telecommunications & Technology
Telecommunications
What are the economic effects of smartphones?The current wave of mobile technology is boosting capital productivity as well as labor efficiency through the usage of "productivity applications" and "down time": with projected advantages to economic productivity of $11.8 billion over the next decade.
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Prepare an income statement for September. SARASOTA VETERINARY CLINIC Income Statement SHOW LIST OF ACCOUNTS LINK TO TEXT BIBI Stem Antincements CAIGULATOR Prepare a tabular analysis the September transactions beginning with August 31 balances. (W/ transaction cames decrease in de or Stockholders Equity place a negative sign PRINTER VERSION BACK NEXT (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity Item that was reduced.) SARASOTA VETERINARY CLINIC Assets Labilities Stockholders. Equity Accounts Notes Cash Accounts Common Receivable Supplies Retained Equipment Payable Payable Stock Earnings Revenues Expenses Dividends BAL 11,000 3,700 600 6,000 5600 14950 750 1. (2,400) (2,400) 2. 2250 (2250) + 3. (750) 1.550 800 4. 3500 4850 8350 5. (2,400) (2,400) 6 (1750) (1750) (1,200) (1,200) (150) (150) 2. (330) 13,500 13500 21,600 6300 600 7550 13500 4330 14950 750 8350 (3,430) (2.400) SHOW LIST OF ACCOUNTS LINK TO TEXT MacBook Air Problem 3-6 (Part Level Submission) On August 31, the balance sheet of Sarasota Veterinary Clinic showed Cash $11,000, Accounts Receivable $3,700, Supplies $600, Equipment $6,000, Accounts Payable $5,600, Common Stock $14,950, and Retained Earnings $750. During September, the following transactions occurred. 1. Pald $2,400 cash for accounts payable due. 2. Collected $2,250 of accounts receivable. 3 Purchased additional equipment for $1,550, paying $750 in cash and the balance on account. Performed services worth $8,350, of which $3,500 is collected in cash and the balance is due in October 5. Dedared and paid a $2,400 cash dividend. Poid stories $1,750, vent for September $1,200, and advertising expense $150. 7. Incurred utilities expense for month on account $330. 8. Received $13,500 from Capital Bank on a 6-month note payable Your answer is correct. Prepare a tabular analysis of the September transactions beginning with August 31 balances. (a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
$3270 is the closing amount the solution of the image is attached.
What is income statement?An income statement displays the revenues, costs, and profitability of a business over time. It is also sometimes referred to as an earnings statement or a profit-and-loss (P&L) statement. It displays your sales revenue for goods and services. expenses for running your firm and generating money.
An income statement's function is to tell readers, creditors, and investors about the company's financial performance during the fiscal year. The income statement is a record of the company's profit and loss for the entire fiscal year in the context of corporate finance.
Thus, $3270
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What are the three types of corporate?
An S-Corporation (S-Corp), a Limited Liability Company (LLC), a C-Corporation, and a sole proprietorship (C-Corp).
Which three business structures are most prevalent?The four most common business formations are sole proprietorships, partnerships, corporations, and S corporations. The Limited Liability Company (LLC) is an approved company structure under state law. Legal and tax considerations are taken into account while choosing a firm structure.
What does the word "corporation" mean to you?Corporate can refer to a specific huge corporation, a collection of large businesses, or both. Interest rates are higher for business clients than for private ones. The economy and company profits are both growing. Corporate can refer to a specific large company, a collection of large businesses, or both.
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What is the purpose of having a bank account or why he she chose a certain bank?
A bank account allows you to do a variety of things, including deposit and withdraw money, pay bills electronically, send money to other people or organizations, and more.
How safe are your savings with bank accounts?Account holders can have confidence that their money is secure thanks to banks and credit unions. In fact, if you open an account in a bank or credit union, the FDIC or NCUA will protect your funds up to a maximum balance of $250,000 in the unusual event that the financial institution you're banking with fails.
You are more at risk of running into financial difficulties if you keep your money outside of bank accounts. For instance, you may not have many options if you only keep cash in secret places throughout your house and it is lost, stolen, or destroyed.
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What is the ultimate goal of PACS in the field of medicine?
PACS (picture archiving and communication system) is a medical imaging technology that is largely utilised in healthcare organisations to safely store and digitally transfer electronic images and reports that are pertinent to clinical care.
Picture Archive and Communication System is referred to as PACS. Standard 2D and 3D images can both be kept in a PACS. A PACS is used by radiology specialists to store all diagnostic imaging files.
As a result of having access to PACS images and reports from many places, clinicians can make decisions more quickly and effectively. This also improves the consistency of the patient care process by making patient information more accurate, timely, and relevant.
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which of these situations produces the largest profits for oligopolists? group of answer choices the firms reach a nash equilibrium. the firms reach the monopoly outcome. the firms reach the competitive outcome. the firms produce a quantity of output that lies between the competitive outcome and the monopoly outcome.
The situations produces the largest profits for oligopolis is the firms reach the monopoly outcome.
What is Monopoly outcome?When there is only one producer and several consumers, a monopoly is present. Monopolies are defined by a lack of feasible substitute products and a lack of economic rivalry to manufacture the good or service. As a result, the price of a good is controlled by a single producer; in other words, the producer is a price maker who may control the price level by deciding how much of a good to create. The majority of public utility firms are monopolies.For instance, it is wasteful to have multiple providers of electricity because it costs so much to install power lines. Customers have few options because there are no reliable alternatives for the distribution of electricity.To learn more about Monopoly outcome refer to:
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the auditors conclude that an entity's illegal act, which has a material effect on the financial statements, has not been properly accounted for or disclosed. depending on the overall materiality and pervasiveness of the effect of this illegal act on the financial statements, the auditors should express either a(n)
The auditors should express either a(n)qualified opinion or an adverse opinion .
What is meant by qualified opinion or adverse opinion ?If a company's financial statement is incorrect and additional audit of the financial statement is required, the auditor will issue an unfavourable opinion. As opposed to a qualified opinion, which is provided when a financial statement has been fairly reported but some details are lacking.
An auditor's qualified opinion states that, with the exception of a particular area, the financials are fairly reported. In contrast to a negative or disclaimer of opinion, a qualified opinion is often still acceptable to lenders, creditors, and investors.
An unfavorable opinion is a qualified assessment provided by an auditor that the financial statements of a firm are inaccurately presented, misstated, and do not fairly reflect its financial performance and health.
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In order for a firm to lower costs, it must ______.
In order for a firm to lower costs, it must grow.
A corporation, sometimes known as a "co.," is a type of legal body that stands in for a collection of people who are either natural or legal persons or a combination of both. To accomplish definite objectives, the company's members collaborate towards a single aim.
A corporation can be created as a legal body in order to restrict the company's responsibility when members fulfil or fail to fulfil their responsibilities under the incorporation or public disclosure policy. After a company has closed, it could be essential to liquidate it in order to settle any lingering obligations.
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GDP does NOT account for which of the following?
A) The value added by all firms in the economy
B) The depletion of natural resources
C) Wages, rent, profit, and interest payments
D) The value of final goods and services produced domestically
E) Imports from foreign countries
GDP does not account for The value of final goods and services produced domestically. Hence, option D is correct.
What is GDP?The gross domestic product is the total monetary worth of all finished products and services produced in a nation at a specific time. Depending on the time frame the nation adopts as its accounting period,
the G. D. P. of a nation can be determined either annually or quarterly. G. D. P. is crucial to a nation because it acts as a mirror of the economy, allowing for the calculation of the economy's size and growth rate. G. D. P. can be estimated using the nation's production, revenue, or expenditures. It is manipulable when inflation is occurring.
Thus, option D is correct.
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Is advertising used in oligopoly?
Many oligopolistic markets are dominated by non-price competition. In these marketplaces, advertising is the main form of competition.
What do you mean by oligopolistic markets?A market structure known as an oligopoly is one in which there are a small number of firms and none of them can prevent the others from having a large impact.
The market share of the big firms is calculated using the concentration ratio.
One producer dominates a monopoly market, two companies dominate a duopoly market, and three or more companies dominate an oligopoly market.
Even if the maximum number of businesses in an oligopoly is undetermined, it must be small enough for each business' operations to have a major impact on those of the others.
Numerous industries, including steel, oil, railroads, tires, grocery store chains, and wireless, have historically had oligopolies.
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when mel's mattress company struggles financially, mel decides to sell his accounts receivable to a finance company, known as a factor, which pays him $60,000 for receivables with a total face value of $100,000. in this instance, how does the factor earn a profit?
When Mel's mattress company struggles financially, Mel decides to sell his accounts receivable to a finance company, known as a factor, pays him $60,000 for receivables with a total face value of $100,000.
Briefing:-in this instance, does the factor earn a profit The factor profits if it can collect more than what it paid for the accounts.
Whenever Mel's Mattress Company faces financial difficulties?Mel decides to sell his accounts receivable to a finance company known as a factor when Mel's Mattress Company experiences financial difficulties. The factor offers him $60,000 for receivables with a total face value of $100,000.
Which of the following statements most accurately sums up how the financial institution will earn from these accounts receivable?If the factor is able to recoup the cost of the accounts, it makes a profit.
Which of the following is money that credit customers owe a company?The funds or credits that your clients and customers owe to your business are included in your accounts receivable. Given that you are making money rather than losing it, it is seen as an asset rather than a burden.
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The following table lists several determinants of aggregate demand. Complete the table by indicating the change in each determinant necessary to increase aggregate demand.
The list indicating the change in each determinant, which are necessary to increase aggregate demand are as follows:
Consumer expectations about future profitability - WorsenGovernment spending - DecreaseInterest rates - IncreaseThe value of the domestic currency relative to the foreign currency - AppreciateWhat is an aggregate demand?An aggregate demand refers to the measurement of the total amount of demand for all finished goods and services produced in an economy.
Generally, the aggregate demand is derived through sum of consumer spending, investment spending, government spending and the difference between exports and imports. So, when one of the factors changes and when aggregate supply remains constant, then there is a shift in aggregate demand.
Missing words "Consumer expectations about future profitability, Government spending, Interest rates, The value of the domestic currency relative to the foreign currency"
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the phenomenon of free riding is most closely associated with which type of good? a. club goods b. private goods c. public goods d. inferior goods
C) Public goods are most closely associated with the phenomenon of free riding.
What is the phenomenon known as a free rider?The burden placed on a shared resource by people who aren't paying their fair share for it or who aren't paying anything at all is known as the free rider problem. The problem of free riders can affect any community, no matter how big or small.
With public goods, why is there a problem with free riders?Due to the two characteristics of a public good, a free rider problem frequently arises with public goods: Non-rival: The good or service is still available to other people even if only one person uses it. Non-excludable: Keeping different shoppers from consuming the great or service is unimaginable.
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How can Social Security be improved?
Although this oversimplifies the situation a little, the fundamental truth contradicts the popular myth that "I paid for my own Social Security benefit.
Long-term funding issues are present for Social Security. Many young employees think the situation is so bad that they might never get a Social Security check. The reasonable answer to Social Security's funding issue is to reduce projected benefits and moderately raise payroll taxes. Raising the early qualifying age and regular retirement age for retirement pensions is a logical method to cut future payments. The significant increase in life expectancy since Social Security's inception in the 1930s serves as justification for this revision. When the average retirement age stays the same, a rise in life expectancy corresponds to a significant increase in lifetime Social Security benefits .Voters are against raising the retirement age. Unfortunately, the other proposed changes that would.
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