The main difference between explicit costs and implicit costs is that explicit costs are the actual out-of-pocket expenses that a firm pays for resources such as wages,
Rent, utilities, and materials, while implicit costs are the opportunity costs of using resources that the firm already owns or could have used in their next best alternative.
Explicit costs are easily measurable and visible on a company's balance sheet as they are tangible and require a direct payment.
On the other hand, implicit costs are harder to measure because they do not require a direct payment and are not recorded on the company's balance sheet.
For example, the implicit costs of a firm's owner-manager's time, effort, and expertise in running the business or the opportunity cost of using an asset for one purpose instead of another.
Both explicit and implicit costs are important considerations for firms as they impact the firm's profitability and decision-making process.
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Your supervisor is considering encouraging your division to use texting to avoid voice mail overload. He is interested in how texting works and asks you to identify the drawbacks of using texting in the workplace. What drawbacks will you mention to your supervisor
The drawbacks that are valid to mention to your supervisor
Inappropriate usage of texting is possible. It's tough to find and retrieve deleted corporate text messages.This is further explained below.
What is the voice mail overload?Generally, a centralized computerized system is capable of storing messages left by callers to a telephone service.
In conclusion, The downsides that you should highlight to your manager.
It's possible to misuse texting in an inappropriate way. It's difficult to locate and restore business SMS messages that have been erased.
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If a company is using the indirect method to prepare the statement of cash flows, a decrease in the inventory account should be reported as:
If a company is using the indirect method to prepare the statement of cash flows, a decrease in the inventory account should be reported as a decrease in cash flows from operating activities.
An indirect method to prepare the statement of cash flowsThe statement of cash flows is prepared indirectly by adjusting net income for changes in balance sheet accounts in order to determine the amount of cash generated by operational activities.One of the parts of a firm's set of financial statements, the statement of cash flows, is used to show where a company gets its money from and what it does with it. It provides details on the cash generated by operations and the impact of various balance sheet modifications on a company's cash position.The indirect mode of presenting is particularly common since the data needed for it can be gathered rather quickly from the accounts that a company typically has in its chart of accounts.To learn more about the indirect method to prepare the statement of cash flows refer to:
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Used in noncollusive oligopolistic markets, the practice of a dominant firm to signal upcoming price changes to other firms in the industry is known as:_________
Used in noncollusive oligopolistic markets, the practice of a dominant firm to signal upcoming price changes to other firms in the industry is known as price leader.
What is oligopoly market?This is a market structure, whereby few players are having advantage over others in the same industry.
Oligopoly occurs when most products or services are provided by only a few large companies or business. In other words, it is a market structure where a few large firms dominate an industry; which are airlines, oil and computers.
Here, economy in a country or all around the world is controlled by big business, and therefore small or emerging business cannot compete due to high costs and loyalty of customers to important branches or producers.
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A customer purchases on credit for $1,250 worth of merchandise, terms 4/15, n/30. If the customer pays within the discount window, how much will they remit in cash to the seller
They will remit in $1200 to the seller.
Credit SalesCredit sales are transactions in which the debt will be paid in full at a later time. In other words, credit sales are transactions when the consumer does not pay in whole, in cash, at the time of the transaction.
Cash sales, credit sales, and advance payment sales are the three basic types of sales transactions. The timing of when cash is received is the only distinction between these sales transactions.
1. Sales made in cash: When a transaction is made and the customer receives their goods or services, cash is collected.
2. Credit sales: After the sale is made, the customer has a certain amount of time to pay the vendor.
3. Sales involving advance payments: Buyers pay the vendor in full before closing the deal.
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The following graph represents the demand and supply for pinckneys (an imaginary product). The black point (plus symbol) indicates the pre-tax equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (star symbol) indicate the after-tax scenario.
The Deadweight loss and Producer surplus after the tax is imposed mathematically are given as
D= C + EPS=FWhat is Deadweight Loss?Generally, the equation for "Before the tax is levied, there is a consumer surplus." is mathematically given as
X = A + B + C
and Before the tax was implemented, the total well-being
Y= A + B + C + D + E + F
Total well-being after the imposition of the tax
Z = A + B + D + F
In conclusion, Deadweight loss
D = Y-Z
D= (A + B + C + D + E + F ) - ( A + B + D +F)
D= C + E
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Suppose the Chicago Cubs baseball team charges $18 bleacher seats and sells 49,000 of them over the course of the season. The next season, the Cubs increase the price to $22 and sell 44,000 tickets. Assuming the marginal cost of admitting one more fan is zero, is the price increase a good idea
Price Elasticity of demand measures the percentage change in quantity demanded of a good or service due to a percentage change in the price of a good or service.
Using Midpoint Method to find Elasticity of Demand
Ed = [(Q2 -Q1) / (Q2 + Q1) / 2] / [(P2 - P1) / (P2 + P1) / 2]
where P is Price and Q is the quantity
Q1 = 49000, Q2 = 44000, P1 = 18, P2 = 22
Ed = [(44000 - 49000) / (44000 + 49000) / 2] / [(22 - 18) / (22 + 18) / 2]
Ed = [(5000 / (93000 / 2)] / [( 4 / (40 / 2)]
= (5000 / 46,500) / (4 / 20)
= 0.1075 / 0.2
= 0.54
While calculating the price elasticity of demand, only absolute values are considered, and the minus sign is ignored.
Price Elasticity of Demand for bleacher seats at Clubs Games = 0.54
As the Price Elasticity of Demand is less than 1, it means that demand for bleacher seats at Clubs Games is Inelastic. In the case of Inelastic demand, a given percentage change in price results in a relatively lesser percentage change in quantity demanded.
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The texas general land office is accused of mishandling funds earmarked for hurricane relief and recovery. who is responsible for investigating?
The Texas general land office is accused of mishandling funds earmarked for hurricane relief and recovery. The governor is responsible for investigating .
The governor is responsible for investigating because only the governor can call a special session . The governor also gets to set the agenda for the session as well.
The General land office has the responsibility to administer funds in the event of natural disasters like Hurricanes. They are also responsible to provide aid for long term as an disastrous event can displace people for months.
The Texas general land office through the community development and revitalization division works to rebuild communities by putting texas back in homes , restoring infrastructure and preventing future damage through planning.
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the table to the right gives the per unit cost data for shirt manufacturer in a competitive industry. if the market price is $4.95
The profit made from transactions is mathematically given as
Pr=$238.70
What is the profit made from transactions?Generally, the equation for Profit is mathematically given as
Pr= (P-ATC)* Q
Therefore
Pr=(9.97-6.87) * 77
Pr=$238.70
In conclusion, The profit made from transactions are
Pr=$238.70
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The process of gathering information and deciding who should be hired, under legal guidelines, in the best interest of the organization and the individual is?
Answer is process of selection.
The selection process is the process of identifying and shortlisting the best candidates with the necessary qualifications and the skill set to fill unfilled jobs in a company. The selection procedure varies by industry, firm, and even across divisions within the same organization.
Every firm builds its selection process with the urgency of employing individuals and the requirements for the job vacancy in mind. Preliminary interview, screening of applicants, employment tests, selection interview, validations and recommendations, medical exam, and ultimate decision are the stages required in the selection process.
Therefore, the answer is selection process.
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If a seller facing excess demand is unable to raise the price of the good due to a price ceiling, a likely result will be:
A likely result will be a decrease in the quality of a product.
The fee ceiling is a state of affairs while the price charged is greater than or less than the equilibrium fee decided with the aid of market forces of demand and deliver. It's been found that higher price ceilings are useless. price ceiling has been discovered to be of extraordinary importance within the residence rent marketplace.
A price ceiling is a legal maximum rate that one will pay for some good or carrier. A government imposes rate ceilings as a good way to preserve the price of some necessary precise or services low-cost. as an example, in 2005 at some stage after Hurricane Katrina, the price of bottled water expanded above $five according to the gallon.
A rate ceiling continues a fee from growing above a sure level (the “ceiling”), even as a fee ground continues a rate from falling underneath a given degree (the “ground”). This phase uses the call for and delivers a framework to research price ceilings. the following section discusses rate flooring.
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If a shift in aggregate demand only affects real Gross Domestic Product (GDP), then the short-run aggregate supply (SRAS) curve must be
If a shift in aggregate demand only affects real Gross Domestic Product (GDP), then the short-run aggregate supply (SRAS) curve must be (D) horizontal.
What is aggregate demand?Aggregate demand, also known as domestic final demand in macroeconomics, is the total demand for final goods and services in an economy at any given time. It is frequently referred to as effective demand, albeit this phrase is distinguished at times. This is a country's demand for its gross domestic output.Aggregate demand is estimated by combining consumer expenditure, government and business investment spending, and net imports and exports.If a change in aggregate demand has no effect on real GDP, then the short-run aggregate supply (SRAS) curve must be horizontal.Therefore, if a shift in aggregate demand only affects real Gross Domestic Product (GDP), then the short-run aggregate supply (SRAS) curve must be (D) horizontal.
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Complete question:
If a shift in aggregate demand only affects real Gross Domestic Product (GDP), then the short-run aggregate supply (SRAS) curve must be
(A) Vertical
(B) Upward sloping
(C) Downward sloping
(D) Horizontal
What might be the best corporate-level international strategy to pursue?
The transnational strategy is the best strategy.
While a global strategy may appear to be the ultimate goal, for many businesses, a transnational strategy that balances local responsiveness with global integration is the ideal option.
Transnational businesses have centralized operations in one country but extra international activities and assets. A transnational strategy establishes a brand's level of global integration and local response. Such a company attempts to strike a balance between the goal for efficiency and the necessity to adapt to local tastes in numerous locations.
Therefore, the best strategy is the transnational strategy that can be pursued.
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How could jim get the views of employees who may have left the company due to perceptions of discrimination or unequal treatment?
Jim could get the views of employees who may have left the company due to perceptions of discrimination or unequal treatment by contacting them. For contacting the employees who have left the company due to perceptions of discrimination or unequal treatment Jim should first find out details of those people like phone number and email address.
After finding out the details, he should contact them and ask what is their reason to leave the company and if they feel discrimination or unequal treatment practice in company and if yes why they feel so. If they give confirmation regarding the same then Jim should talk to the current employees and find out how it happen and who practices this in firm.
After knowing the issue Jim should take appropriate steps to discard this practice from the organization.
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What type of event is an agent conducting when they present plan information that includes benefits and cost sharing in an audience-presenter format
A marketing/sales event is the type of event conducted by an agent when they present plan information that includes benefits and cost sharing in an audience-presenter format.
What is a marketing/sales event?This event is a kind of promotional event that involves planning, organizing and executing for the purpose of promoting a brand, product, or service.
The marketing or sales event is one that can take place in-person or online, and the companies can either host an event, attend as an exhibitor, or participate as a sponsor.
Hence, these event are the type of event conducted by an agent when they present plan information that includes benefits and cost sharing in an audience-presenter format.
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Which method in oil and gas accounting requires the cost of unsuccessful wells be expensed in the current period?
Successful-efforts accounting is the method that requires the cost of unsuccessful wells be expensed in the current period
What is the Successful-efforts accounting ?The successful method accounting can be defined to be the type of accounting that is done which is known to allow a company to capitalize on the expenses that hey have made from being able to locate a new oil and gas reserves in a successful way.
Hence we can say that the Successful-efforts accounting is the method that requires the cost of unsuccessful wells be expensed in the current period
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After demonstrating how to return 2023 murano’s folded rear seats to their upright position, what should you remind new owners?.
New owners should be reminded to Gently rock the seatback forward to verify it is latched.
What is Murano?Nissan has been producing and marketing the Nissan Murano, a mid-size crossover SUV, since May 2002 for the 2003 model year. It is currently in its third iteration.
The Murano was developed by Nissan America in La Jolla, California, as the company's first crossover SUV for the US and Canada. It was built on the same Nissan FF-L platform as the third-generation Altima.
Sales of the Murano in Europe started in 2004.
Before the Rogue debuted on sale in September 2007, the Murano was the sole crossover SUV offered by Nissan in the United States. Since 2004 as a model for 2005, Nissan's second SUV based on a car had been available for purchase in Canada.
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Point x on a linear production possibilities curve represents a combination of 50 watches and 20 clocks, and point y represents 20 watches and 80 clocks. Suppose, clocks are on the vertical axis and watches are on the horizontal axis. The opportunity cost of producing one watch is:
Based on the coordinates of point x and those of point y on the linear production possibilities curve, the opportunity cost of producing one watch is 2 fewer clocks.
What is the opportunity cost of producing one watch?The opportunity cost of producing one watch is the number of clocks that needs to be given up per watch.
This will therefore be the slope of the linear production possibilities curve which can be found as:
= (Y₂ - Y₁) / (X₂ - X₁)
Solving gives:
= (80 - 20) / (20 - 50)
= 60 / -20
= -2 clocks
This means that for every watch produced, there will be 2 clocks that will be foregone to make that watch.
In conclusion, the opportunity cost is 2 clocks.
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Jay's new loan to purchase a property includes the seller's existing mortgage. What type of loan is this
The type of loan that this is known to represent is what is referred to as the wraparound mortgage loan.
What is the wraparound mortgage loan?This is the type of mortgage that has to do with the fact that the borrower is financing another loan when they have not been able to finance the original mortgage itself.
This type of loan is beneficial to a person given that they would be able to get a system of loan that may not have been possible before.
Hence we have to conclude that Jays financing a property when he has an existing mortgage is what is called the wraparound mortgage loan.
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You want to be able to withdraw $35,000 each year for 15 years. Your account earns 9% interest. a) How much do you need in your account at the beginning
Your interests are activities that you enjoy doing and subjects that you enjoy spending time learning. Are interest. When something interesting, it draws your attention and makes you want to learn more about it: less interesting was discussed.
Interest is the money paid to spend someone else's money. An interesting example is $ 20 in this year's savings account. An example of interest is the $ 2,000 paid on a mortgage this year.
Interest is paid for a lifetime but disappears upon death (especially from the property).
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Completing the Free Application for Federal Student Aid (FAFSA) application
can:
OA. point you toward many different forms of financial aid.
B. identify your future earnings.
C. identify relevant career paths for you.
O
O
D. guarantee that you will get a loan to meet your financial needs.
Answer: A
Explanation: FAFSA is used to show the government various things about your life and income so they can see what scholarships/grants/aid can be given to you!
The Free Application for Federal Student Aid (FAFSA) application can point you toward many different forms of financial aid. The correct option is (A).
What do you mean by Free Application for Federal Student Aid?The official application for federal financial help to cover college costs is the Free Application for Federal Student Aid, or FAFSA. Many states, certain colleges, and universities also use it when deciding who gets financial help.
According to the data gathered from the application, the FAFSA specifically decides who will receive aid in the form of loans, scholarships, and grants.
Information from the FAFSA is also used by states, certain colleges and institutions, and private scholarship programmed to determine financial aid choices.
All of these types of aid are accessible through the FAFSA, which is handled by the Office of Federal Student Aid.
Therefore, the Free Application for Federal Student Aid (FAFSA) application can point you toward many different forms of financial aid.
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A ________ can educate customers when discussing their products or services and create excitement when they promote special offers.
One way to educate customers when discussing the products and servicers of a company is by using a C. Corporate blog.
What is a corporate blog?
This is a tool/ blog that allows the various customers of a company to discuss the goods and services on offer.
These discussions shed more light on the goods and the company can sometimes use them to promote special offers.
Options for this question include:
A. freemium App
B. network effect
C. Corporate blog
D. Page Search
E. professional blog
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In its annual time use study in 2017, the bls found that the average adult spends __________ per day on unpaid work.
In its annual time use study in 2017, the BLS found that the average adult spends 2.4 hours per day on unpaid work.
An American government organization called the Bureau of Labor Statistics (BLS) is in charge of gathering and disseminating a variety of economic and employment data.
The Consumer Price Index (CPI) and Producer Price Index are two important inflation indicators produced by the BLS (PPI).
The BLS also generates regional and national statistics on wages, productivity, labor force participation, and employment.
The BLS, a division of the U.S. Department of Labor (DOL), is responsible for collecting, compiling, and publishing a variety of statistical data on the labor market, pricing, and productivity.
The figures this government agency generates are among the most important economic indicators for the American economy, and it goes to considerable pains to ensure the accuracy, impartiality, and accessibility of its reports.
Hence, in its annual time use study in 2017, the BLS found that the average adult spends 2.4 hours per day on unpaid work.
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If the Accounts Receivable balance is $10 million less than the balance at the beginning of the year, then on the statement of cash flows (indirect method) $10 million should be ______. Multiple choice question. subtracted from investing activities added to investing activities added to net income subtracted from net income
$10 million should be added to net income.
What is Accounting?Accounting is the process of documenting a business's financial transactions. These transactions are compiled, examined, and reported to oversight organizations, regulatory bodies, and tax collection organizations as part of the accounting process. A company's operations, financial condition, and cash flows are summarized in the financial statements that are used in accounting. They provide a succinct summary of financial transactions across an accounting period. One of the most important aspects of practically every firm is accounting. Small businesses may have a bookkeeper or accountant manage it, whereas larger corporations may have vast finance departments with many people. Management can make wise business decisions thanks to the information produced by many streams of accounting, including cost accounting and managerial accounting.Know more about Accounting with the help of the given link:
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When the price of gasoline decreses, brad buys more gasoline and more of all other goods. this information describes:_____.
When the price of gasoline decreases, brad buys more gasoline and more of all other goods. this information describes the real income effect of a price decrease.
The profits impact describes how the alternate in the charge of an awesome can change the quantity that purchasers will demand of that accurate and associated item, primarily based on how the fee change impacts their real income.
the cash earned with the aid of someone, company, authorities, etc. Over a particular period of time that is calculated through thinking of the impact of inflation on what can surely be sold with that cash: In common, an individual worker is increasing his or her real income by using much less than 1% at the present time.
A boom in real incomes will reason the call for items/offerings to boom (the extent to which relies upon the marginal propensity to eat). however, as the majority of united kingdom goods are imported, growth in the call for goods will increase the demand for imports.
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Limitations of expansionary domestic macroeconomic policy due to a shortage of international currency reserves is known as the ______.
Limitations of expansionary domestic macroeconomic policy due to a shortage of international currency reserves is known as the stagflation.
What is stagflationStagflation is a period of growth that is very slow.
It is characterized by a season of unemployment when an individual does not have access to desired Job.
It can also lead to shortage of international currency reserve as a result of low trade or business transaction. There is rising prices in goods and services purchased and very high standards of Living.
Therefore, Limitations of expansionary domestic macroeconomic policy due to a shortage of international currency reserves is known as the stagflation
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Flatter organizations today often reassign an employee to a new job at the same level, which is known as a(n)?
It is known as lateral transfer.
A transfer is a horizontal or lateral movement of a person from one job, section, department, shift, plant, or position to another in the same or another location with the same wage, status, and responsibilities.
A lateral move is a job movement in which a person transfers from one position to the another with minimal change in compensation, title, or level. However, even if you do not receive a promotion, a lateral transfer does not guarantee that one will not gain the new experiences or develop new abilities.
Therefore, the answer is lateral transfer.
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As martin meets with people, he will continually look for new leads. What is the process by which martin will acquire new candidates from existing prospects or clients?
Strategic Prospecting is the process that martin will acquire new candidates from existing prospects or clients.
What is strategic prospecting?This is the term that is used to refer to the way that sales teams are able to identify the opportunities that are existent in sales and also how they are able to make use of these opportunities as they identify them.
In this case what has to do would be to create a profile for the prospects of customers that he is interested in. Then he would have to acquire new customers from existing prospects or clients. Hence the the process by which martin will acquire new candidates from existing prospects or clients is strategic prospecting
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If the price elasticity of demand for a good is 0. 5, then a 5 percent increase in price results in a.
A 5% increase in price leads to a 2.5% decrease in quantity demanded.
What is the effect of an increase in price?Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
Percentage change in quantity demanded = 5 x 0.5 = 2.5
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The ________ level of the customer-value hierarchy, which includes brand positioning and competition in developed countries, involves preparation of a product that exceeds customer expectations
Answer: Augmented Product
Explanation:
When flow rate goes up but wages per unit of time stay the same, how are costs of direct labor affected?
When flow rate goes up but wages per unit of time stay the same, the costs of direct labor affected by decreasing.
What is Direct labor costs ?Direct labor costs can be regarded as the wages or salaries that is been paid to employees who physically produce products.
It should be noted that these expenses are the costs paid to workers that are responsible for the products that manufactured and sold.
In this case, When flow rate goes up but wages per unit of time stay the same, the costs of direct labor affected by decreasing.
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