The cars should be rented at $34 per day for a maximum income of $6268 per day.
If the daily rental is increased by $x
Then
Rental: R(x)=(28+x)dollars per car-day
Number of cars rented:
N(x) = (220−6x) and Income: I(x) = (28+x) (220−6x) = 6,610 + 52x−5[tex]x^{2}[/tex] dollars/day.
The maximum will be achieved when the derivative of I (x) is zero.
[tex]\frac{dI(x)}{dx}[/tex] = 52−10x = 0
⇒ x = 5.2
For an even dollar rental amount, and increase of $5/day or $6/day will generate the same income.
So
$28+$5 = $33/day
or
$28+$6 = $34/day
would both be valid answers.
However, $34/day involves renting fewer cars and thus reduced expenses.
Using basic substitution and arithmetic
I(4) = $6,268
What is Maximum revenue ?
Maximum revenue is defined as the total maximum amount of revenue of product or service can yield at maximum demand and price.
To calculate maximum revenue, determine the revenue function and then find its maximum value. Write a formula where p equals price and q equals demand, in the number of units.
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______________ is often challenged as being an inefficient allocation of resources because it promotes monopoly power for some firms and these expenditures by multiple firms are often self-canceling rather than productive. ______________ is often challenged as being an inefficient allocation of resources because it promotes monopoly power for some firms and these expenditures by multiple firms are often self-canceling rather than productive.
Advertising is often challenged as being an inefficient allocation of resources because it promotes monopoly power for some firms and these expenditures by multiple firms are often self-canceling rather than productive.
What exactly is advertising?Despite people's ignorance, advertising is always present. Every media available in today's world is used by advertising to spread its message. It achieves this through several mediums, including television, print (newspapers, magazines, journals, etc.), radio, press, internet, direct marketing, billboards, mailers, competitions, sponsorships, posters, outfits, events, colors, sounds, images, and even people (endorsements).
The advertising sector is made up of businesses that advertise, agencies that produce the ads, media that run them, and a large number of individuals who take the ads all the way to the consumer or recipient, including copy editors, visualizers, brand managers, researchers, creative minds, and designers.
How does monopolistic power work?Market power and monopoly power both relate to a company's capacity to set a price above its marginal cost. Monopoly power often occurs in markets with low demand elasticity and high entry barriers.
Monopoly Power Sources:
The elasticity of the product's demand, the presence of economies of scale, the ownership of a vital resource, the existence of legislative restrictions, etc. are all significant determinants or sources of monopoly power.
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OSU Mini-scenario: Assume the following: A Media Services employee at an on-campus classroom is replacing the projector bulb during class time. This has put class discussions/lecture on hold, and that students in the class are not in favor of such an interruption. Then, the students are experiencing:
The students are experiencing wait time & non-value added time.
Are lighter switches better for OSU?Depending on how hard you want to bottom down, a light-to-medium weight linear switch will be the best option for OSU.Can you play OSU with a keyboard?Osu! is a rhythm game that may be played on a touch screen, using a mouse, a pen, a mouse and keyboard, or both.What is the heaviest mechanical switch?The most substantial tactile switch you could possibly find is a Cherry MX Green. Though hard to come by, they are weighty and clicky.Is osu good for your brain?You may not be aware of it, but your brain is restricting the amount of signals entering and leaving it, which is holding you back! Osu! by making your brain continually process and input decisions, it helps us gamers break down the mental barriers that stand in our way.Learn more about OSU Mini here:
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Because using cranes or derricks to hoist personnel poses a serious risk to the employees being lifted, any cranes and derricks that hoist personnel must:
Use of platforms for suspended persons. Except during proof testing, the entire load (with the platform loaded, including the hook, load line, and rigging) cannot be greater than 50% of the equipment's rated capacity for the radius and configuration.
What is the OSHA regulation governing cranes in construction?The definition of "power-operated equipment, when used in construction, that can hoist, lower, and horizontally move a suspended weight" is the only one that applies to the cranes standard at 29 CFR 1926.1400(a). A crane mounted on a monorail is particularly mentioned by OSHA as falling under the purview of the new standard.Learn more about cranes or derricks brainly.com/question/12457602
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The Work in Process Inventory account of a manufacturing company has a $3,200 debit balance. The company applies overhead using direct labor cost. The cost sheet of the only job still in process shows direct material cost of $1,400 and direct labor cost of $800. Therefore, the amount of applied overhead is:
The amount of applied overhead is $1,000.
What is inventory?The products and materials that a company keeps on hand with the intention of reselling, producing, or using them are referred to as inventory or stock. The main focus of inventory management is determining the location and shape of stocked commodities.What is material cost?The price of direct materials is directly related to the unit of production and is immediately identifiable.For instance, the price of glass is a direct material expense in the production of light bulbs. The primary component needed for the production of commodities or products was material.Solution -To find the amount applied overhead:
3200 - ( 1400 + 800 ) = 3200 - 2200
= $1,000
Therefore, the amount of applied overhead is $1,000.
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he marketing advantage of Blank______ is the great number of special-interest publications that appeal to narrowly defined segments.
The marketing advantage of Magazines is the great number of special-interest publications that appeal to narrowly defined segments.
Advantages of Magazine AdvertisingThere are a limited number of pages in magazines, and each page only has a few advertisements. The chances of getting noticed are substantially higher, and local adverts will stick in people's minds longer than internet ones do.Many people are reluctant to engage online due to fake news and cybercrime. Readers are more likely to trust a person if they trust their local magazine as a source of local knowledge. Making a phone or sending an email carries almost little risk for them.People in the neighborhood will enjoy a solid reputation for expertise and curiosity. People will believe what they see, which will be advantageous for your brand.To learn more about the Marketing of Magazins refer to:
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Jenna does not drink alcohol and when she meets clients for dinner she knows that while the client might enjoy a glass of wine with the meal, she is not required to. What type of business custom does this illustrate? standardized axioms imperatives electives exclusives individualistic axioms
The given situation illustrates (B) electives business customs.
What are electives' business customs?Business customs are classified as imperatives, which must be recognized and accommodated, electives, which are beneficial but not required, and exclusives, which are customs in which an outsider must not engage.What are the imperatives of business customs?Business customs are classified as imperatives, which must be recognized and accommodated, electives, which are beneficial but not required, and exclusives, which are customs in which an outsider must not engage.What are exclusive business customs?Locals only have access to cultural exclusives. You will violate a contract if you participate in these customs. If you are a Christian, don't go to the Middle East and try to act like a Muslim since it is disrespectful to their religion.Solution -As it is given in the definition, business customs are classified as imperatives, which are beneficial but not required, and exclusives, which are customs in which an outsider must not engage.
Therefore, the given situation illustrates (B) electives business customs.
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Correct question:
Jenna does not drink alcohol and when she meets clients for dinner she knows that while the client might enjoy a glass of wine with the meal, she is not required to. What type of business custom does this illustrate?
A) imperatives
B) electives
C) exclusives
D) individualistic axioms
E) standardized axioms
In the long run, the most important source of increase in a nation's standard of living is a: Group of answer choices high rate of economic growth. high rate of labor force growth. zero rate of population growth high rate of consumption.
In the long run, the most important source of increase in a nation's standard of living is high rate of economic growth.
What is economic growth?This refers to continuous increase in the total amount of goods and services produced within a country.
The long run is a period in which all factors of productions are variable hence high rate of economic growth is essential towards a nation's standard of living.
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The purposeful reduction of damages, usually the responsibility of a nonbreaching party to a contract, is known as ________. Group of answer choices waiver negotiation release novation mitigation
The answer is mitigation.
Mitigation is the decrease of something harmful or the lessening of the detrimental consequences of something bad. It may relate to steps done to mitigate the adverse consequences of hazards that are still present in the environment, or to manage hazardous situations that have already happened.
Almost every insurance policy requires the insured to minimize the loss in order to avoid additional damage. That is, it is the insured's obligation as the insured to take reasonable steps to minimize or mitigate secondary damages.
Therefore, the blank will be filled by mitigation.
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Being on time in business situations generally means being about ________________.
Answer:
Being on time in business situations generally means being about 5 minutes early
Explanation:
5 minutes late is acceptable with a brief apology. Ten to fifteen minutes late requires a phone call to warn of the delay and to apologize.
You buy two loaves of bread at a price set by the government. The price of the bread never changes, and it is the only kind of bread produced. This scenario is an example of a perfectly competitive market. market-based economy. shortage. centrally planned market.
The answer is a Centrally planned market.
In the given case, the price of a loaf of bread is set by the government.
Also, the set price of loaf never changes.
Moreover, the bread so produced is the only kind in the market.
This shows all the decisions related to the market of the bread are taken by the center which is the government. In other words, it is the center that plans the decisions concerning the market of the bread.
Hence, where I buy two loaves of bread at a price set by the government. The price of the bread never changes, and it is the only kind of bread produced. This scenario is an example of a centrally planned market.
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AI offers all of the following unstructured online data about your purchasing behavior EXCEPT _______. a. what your lifestyle reveals about your pricing sensitivity b. the brands used in your individual's photos c. what brands you discuss on social media d. what goods and services you perused online
AI offers all of the following unstructured online data about your purchasing behavior EXCEPT what goods and services you perused online.
What is Artificial Intelligence?Artificial intelligence, in its most basic form, is a topic that combines computer science and substantial datasets to facilitate problem-solving. A successful early use of AI, expert systems sought to mimic human decision-making. In the beginning, it took a lot of time to collect and organize human knowledge.
How can artificial intelligence and data add value to businesses?Artificial intelligence will change many firms and give rise to entirely new sorts of enterprises. co-founder of Landing, AI Fund, and Coursera. AI explains the advantages for businesses.
What is Unstructured data?Information that either lacks a pre-defined data model or is not organized in a pre-defined way is referred to as unstructured data (or unstructured information). Unstructured data can also include facts like dates, numbers, and figures but is often text heavy. In contrast to data recorded in fielded form in databases or annotated (semantically labeled) in texts, this results in irregularities and ambiguities that make it difficult to understand using standard algorithms.
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How is Infrastructure related to the business and his Impact and Importance on it?
Infrastructure is the most crucial factor of a business organization, and much of a business' growth depends upon better infrastructure.
What is infrastructure?Infrastructure for a business can be understood as a set of facilities and services that are a requirement for the smooth functioning of a business organization.
If the infrastructure is poor, then there is a definite cap on the upper side of a business' growth. Similarly, a better infrastructure increases the opportunities for increase in the productivity of a business.
Hence, the significance of infrastructure is aforementioned.
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paniards can produce 10 gallons of wine or 8 gallons of olive oil per worker hour. Americans can produce 9 gallons of wine or 6 gallons on olive oil per worker hour. Who has the comparative advantage for wine and who for olive oil
Spaniards can produce 10 gallons of wine or 8 gallons of olive oil per worker hour. Americans can produce 9 gallons of wine or 6 gallons on olive oil per worker hour.
Spanish have an absolute advantage in wine and olive oil.
According to a recent study that was published in the Journal of Agricultural and Food Chemistry in 2021, olive oil actually improves the flavor of red wine. Therefore, I advise matching a full-bodied red wine with an extra olive oil if you require a rapid wine and olive oil pairing.
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On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $44,500 and $1,550, respectively. During 2022, Coolwear wrote off $575 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $5,400 at December 31, 2022. Bad debt expense for 2022 would be
Bad debt expense for 2022 would be $4,425.
Bad debt expense is the expense incurred by a company when a debtor of the company is unable to fulfuill their obligation to the company.Bad debt expense for Coolwear Inc. would be calculated by = Allowance for Uncollectible Accounts - (Uncollectible Accounts Balance - Accounts Receivable Writeoff).
Bad debt expense = $5,400 - ($1,550 - $575).
= $4,425.
What are examples of bad debt expense?Big Store stops paying its debts and fails to reimburse Company XYZ for goods valued at $100,000. Company labels the $100,000 as a bad debt because it has little faith that Big Store will ever make good on its obligations.Is bad debt expense a liability or expense?As the amount that was anticipated to be paid by the debtor is not recoupable and has a negative impact on the books of accounts by reducing the accounts receivable, bad debts constitute an expense to the firm rather than a liability.Where is bad debt expense on balance sheet?The provision for doubtful debts is shown in the balance sheet immediately below the line item for accounts receivable and is a counter account to accounts receivable, therefore it should always have a credit balance.Learn more about bad debt expense here:
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When most workers are classified as not being in the labor force, when in reality they are actively searching for work, then the unemployment rate will be Group of answer choices Overstated Neither understated nor overstated Either understated or overstated Understated
When the workers are not in the labor force and actively searching for work then the rate of unemployment is neither overstated nor understated.
Option B is the correct answer.
What is unemployment?Unemployment is the scenario where an individual is not able to seek any job and desperately looking for it.
The rate of unemployment is unaffected when the people are not employed in any kind of workforce and are searching for employment. It is because the rate affected at the times when either more people have employed leads to a decrease or fewer people are employed leads to an increase.
Therefore, the active search for employment by an individual will not change the rate of unemployment in any way.
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Inside marketing contexts, _______________ entail(s) the tendency of customers to do nothing or remain locked in on decisions or behaviors they have already made or are living out.
Inside marketing contexts, inertia entails the tendency of customers to do nothing or remain locked in on decisions or behaviors they have already made or are living out.
These days marketing is dealing with regularly multifaceted clienteles; transnational markets integration and technological development, which periodically force new advertising standards.
4 Types Of Marketing Plans And Strategies
Market Penetration Strategy.Market Development Strategy.Product Development Strategy.Diversification Strategy.While speaking with customers, entrepreneurs typically should emphasize the aspects of their manufacturers which might be extra: precious for most of their clients. When communicating, "contagious" facts mean that records, as soon as obtained, will much more likely be spread with the aid of preliminary recipients to others.
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Challenges for new leaders since the global information-based revolution include: Multiple select question. learning about world quality standards manufacturing jobs are the only ones that pay well that the service era is coming to a close training employees takes too much time
Challenges for new leaders since the global information-based revolution include:
Learning about world quality standards
The service era is coming to a close
Option C, D. This is further explained below.
What is a global information-based revolution?Generally, This study evaluates the potential of emerging data processing and communication technologies for averting, better managing, or resolving international conflicts.
In conclusion, Since the worldwide information-based revolution, new leaders have faced a variety of challenges, including but not limited to:
Educating Oneself on International Quality Standards
We are nearing the end of the service age.
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Suppose you are eating buffalo wings at a local happy hour. The total utils from doing so after the fourth, fifth, sixth, and seventh wings are 30, 50, 65, 72, respectively. In this situation we have __________ marginal utility, which is generally __________ in the analysis of consumer choice.
In this situation, we have diminishing marginal utility, which is generally assumed in the analysis of consumer choice.
What is marginal utility?In economics, utility is defined as the enjoyment or value gained from using a thing. The marginal utility of a good or service explains how much pleasure or satisfaction consumers receive or lose as a result of a one-unit increase or reduction in consumption. There are three different kinds of marginal utility.According to the law of declining marginal utility, as consumption increases, the marginal utility obtained from each extra unit decreases.What is consumer choice?Consumer choice theory is a branch of microeconomics that connects preferences to consumption expenditures and consumer demand curves.Solution -As the law of marginal utility states, as consumption increases, the marginal utility obtained from each extra unit decreases.
Therefore, in this situation, we have diminishing marginal utility, which is generally assumed in the analysis of consumer choice.
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Greg and Neha are interested in buying a ranch-style home in a suburban family neighborhood. The sellers have only lived there for 19 months, so they have no information about the addition that was put on 20 or 30 years ago. Why does it matter whether the owners at the time got permits to do the addition
It was important for the owners at the time to get permits to do the addition because if the addition was not permitted, it may need to be inspected to ensure it meets code and perhaps even be take down.
What is addition construction?Any improvement that increases the square footage of a building is considered an addition. Any walled and roofed addition to an existing building that is connected by a shared load-bearing wall other than a firewall is referred to as an addition.
The types of building codes are-
International Building Code (IBC)International Residential Code (IRC),Electrical codes and plumbing, Mechanical codes.Thing to know before adding an addition to house-
Property Lines, Impact on Existing Architecture, Scope of Work, Required Materials,Permits, Permissions, and Inspections,Your goal is to be clear,Local building regulations.,Your contractor, Design.Therefore, building codes are the minimal standards for design and construction that guarantee sturdy and secure structures. By strengthening structures to survive calamities, these codes lower the number of fatalities, expenses, and damage.
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Of the following, ________ produce(s) the largest amount of hazardous waste. Group of answer choices industry households agriculture utilities building demolitions
The industry is the answer.
An industry is a group of companies that are related by major business activity. There are dozens of industrial classifications in the modern economy. Industry classifications are usually divided into larger categories called sectors.
Economic activity dealing with the processing of raw materials and the production of goods in factories.
Industries are usually categorized by the goods and services they produce. For example, the pizza industry includes all producers who manufacture and sell pizza on the market. It is important to note that in order for a pizza maker to belong to the pizza industry, the products they make must be sold on the market.
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What is a list of quantities of components, ingredients, and materials required to make a product?.
A list of quantities of components, ingredients, and materials required to make a product is bill-of-material.
But if you're searching out a preferred discern to get started out, the total cost of developing the most modest merchandise is $30,000, on common. This parent applies to fairly simple merchandise and includes the fee of designing, prototyping, trying out, and launching the new product.
A product is any object or carrier you sell to serve a client's need or need. They can be bodily or virtual. Bodily merchandise includes long-lasting goods (including automobiles, fixtures, and computer systems) and nondurable items (which include food and drinks).
In an international of Alibaba and ThomasNet, manufacturing your very own merchandise is feasible without even speaking to your dealer or meeting them head to head. When you have small modifications which can be clean to convey and put into effect, you have to be able to accomplish that without any hassle.
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The cost method that will yield an ending inventory value that is somewhere between possible high and low costs (prices) using traditional costing methods is the
The weighted average cost of capital is the cost approach that will produce an ending inventory value that is in between probable high and low costs (prices) using classic costing methods.
The weighted average cost of capital is the average cost of attracting investors, whether bonds or shareholders.
The computation weights the cost of capital depending on the amount of debt and equity used by the firm, providing a clear barrier rate for internal initiatives or future acquisitions.
The weighted average inventory cost is one of the approaches used in inventory valuation. It is computed by dividing the cost of products for sale by the number of units for sale. i.e The cost of the items for sale and the quantity of units for sale. Because it is based on averages, the ending inventory value is generally somewhere between high and low cost.
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A banking system in which only a portion of checkable deposits are backed up by cash in bank vaults or deposits in the central bank is called a.
In the circular flow model, ______ is the supplier of goods and services in the product market and ______ is the consumer of the goods and services in the product market.
The supplier of goods and services in the circular flow model is Firms and the consumer is the Household.
What is the circular flow model?This is a model that shows the relationship between households and firms in the market.
Firms supply households with goods and services and households supply firms with factors of production while consuming the goods and services.
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what is business transaction
_________________ is the authoritative source of governmental auditing standards. In other words, governmental auditing standards are found in this source/document. The FASB Codification The GASB Codification (or GARS Online) The Yellow Book The FASAB Handbook
The answer is The Yellow Book.
This book outlines the requirements for audit reports, professional qualifications for auditors, and audit organization quality control.
This means that the auditors of federal, state, and local government programs have to use these standards to perform their audits and produce their reports.
The Yellow Book is used by auditors of government entities, including the entities that receive government awards, and other audit organizations performing Yellow Book audits.
Hence, The Yellow Book is the authoritative source of governmental auditing standards. In other words, governmental auditing standards are found in this source/document.
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Grande Communications offers a lower price to customers who subscribe to Grande television, telephone, and internet services all at once. This is an example of _______. a. price bundling b. loss-leader pricing c. bait pricing d. odd-even pricing or psychological pricing
The answer is Price Bundling.
Price bundling is a marketing strategy. In this type of strategy, the company combines two or more products to sell them at a lower price than if the same products were sold individually.
It is also called product bundling or product-bundle pricing. As two or more products are combined/ bundled together to sell them at a lower price.
Hence, when Grande Communications offers a lower price to customers who subscribe to Grande television, telephone, and internet services all at once. This is an example of Price Bundling.
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What are hollow corporations? A. companies that market their products through franchisees B. companies that outsource all production to suppliers C. companies that have liabilities exceeding their assets D. companies that are horizontally integrated E. companies that do not have any physical presence and only operate online
The correct option is (B); companies that outsource all production to suppliers.
What are hollow corporations?This serves as a model for a business that outsources the majority of its production work. "Virtual business" is a related American buzzword.
According to a business lexicon, it is a type of company where "essential aspects are outsourced to subcontractors."
The most significant benefits of this type of business strategy in the software and outsourcing industries are:
Transfers of funds take place without converting currencies or including VAT (as in France). This indicates that no VAT can be used. Low logistics costs and (typically) cheaper taxes are the results of this.The third party that receives payments does all the required documentation and other tasks to ensure that payments are made on time.It is possible to send provisional bills, which give job/product/service clients a tax report for simpler planning.A different firm that bears all of the parent company's running costs gets compensated by the company.To know more about the corporation, here
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What happens to the total surplus in a market when the government imposes a tax?.
Total surplus decreases in a market when the government imposes a tax.
What is tax?Tax is a compulsory levy, impose on an individual or institutions by the government of a country.
When the government levies tax on the goods produced, producers will pass some of these costs on as an increased price. This means that consumers will ultimately decrease quantity demanded and reduce producer surplus.
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On an indirect method statement of cash flows, an increase in accounts payable is?
On an indirect method statement of cash flows, an increase in accounts payable is added to the net income in the operating activities section.
Cash flow is the transfer of real or virtual money. Strictly speaking, cash flow is payments (in currency), especially from one central bank account to another. The term "cash flow" is used primarily to describe expected future payments and is therefore uncertain and therefore must be predicted in cash flow.
Cash flow is determined by its time t, nominal amount N, currency CCY, and account A. Symbolically CF = CF (t, N, CCY, A). However, typically uses cash flows in a less specific sense to describe (symbolic) payments to or from a business, project, or financial instrument.
Cash flow is closely related to the concepts of value, interest rates, and liquidity. Cash flows scheduled to occur on a future day tN can be converted to cash flows of the same value at t0.
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