is a boeing 747 airline an elastic or inelastic commodity? why?

Answers

Answer 1

The Boeing 747 airline is an inelastic commodity. Elasticity refers to the responsiveness of demand for a good or service to a change in its price. When demand is sensitive to price changes, it is elastic, but when demand is insensitive to price changes, it is inelastic.

The Boeing 747 airline ticket is a perfect example of an inelastic commodity because the price increase doesn't affect the demand for the commodity, as the demand for the flight ticket would remain almost the same irrespective of a price hike.

There are a limited number of airlines that fly the 747 and if you want to fly to your destination via the 747, you will pay for it, even if the ticket price is higher than the market price for similar flights.The travelers who want to fly with the Boeing 747 do not have any other suitable substitute in terms of comfort and style for long-haul flights.

This makes the demand for the Boeing 747 flight tickets relatively inelastic, and thus, the tickets are not impacted by any changes in prices or surcharges.

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Related Questions

Nash Corporation has outstanding 400,000 shares of $10 par value ordinary shares. The corporation declares a 10% share dividend when the fair value is $63 per share. Prepare the journal entries for Nash Corporation for both the date of declaration and the date of distribution.

Answers

:Nash Corporation has a total of 400,000 shares of $10 par value common stock. The company has declared a 10% share dividend, which means that each stockholder will receive an additional 10% in the number of stocks they own.

In this scenario, the company's fair value is $63 per share, and the date of the declaration and the date of distribution are the two important dates to consider. Journal entries for both dates are mentioned below:Date of Declaration: On the date of declaration, the company will need to record a dividend declaration journal entry. The entry is as follows:DateAccountTitleDebitCreditUndeclared Dividends63,000,000Common Stock Dividends Distributable (10% * 400,000 shares * $10 par)4,000,000Paid-in Capital in Excess of Par – Common Stock59,000,000 (400,000 shares * $10 par)On the declaration date, an amount equal to the total dividend payable is transferred from Undeclared Dividends to Common Stock Dividends Distributable. Paid-in Capital in Excess of Par - Common Stock increases by the remaining amount ($59,000,000) as common stockholders have already contributed for their shares.Date of Distribution: On the date of distribution, the company will need to record a dividend distribution journal entry. The entry is as follows:DateAccountTitleDebitCreditCommon Stock Dividends Distributable4,000,000Common Stock400,000Paid-in Capital in Excess of Par – Common Stock4,000,000On the distribution date, the dividend is transferred from Common Stock Dividends Distributable to Common Stock. This increases the stockholder's shares in the company. Paid-in Capital in Excess of Par - Common Stock decreases by the amount equal to the distribution. Since the par value of the shares issued remains the same, the paid-in capital in excess of par - common stock account decreases by the same amount ($4,000,000).

In conclusion, on the declaration date, an amount equal to the total dividend payable is transferred from Undeclared Dividends to Common Stock Dividends Distributable. Paid-in Capital in Excess of Par - Common Stock increases by the remaining amount. On the distribution date, the dividend is transferred from Common Stock Dividends Distributable to Common Stock. Paid-in Capital in Excess of Par - Common Stock decreases by the amount equal to the distribution.

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prepare a line graph of these data/ do the data to be staionary or nonstationary

Answers

To prepare a line graph of the data, please provide the specific data points or values that need to be plotted.

To create a line graph, we need a set of data points representing the variables of interest. These data points are typically plotted on a graph with a horizontal axis representing the independent variable (e.g., time) and a vertical axis representing the dependent variable (e.g., quantity, temperature, etc.).

Without the specific data points, it is not possible to create a line graph. Please provide the data points or values you would like to graph, and I'll be happy to assist you further.

Regarding the stationarity of the data, it cannot be determined without the actual data. Stationarity refers to a statistical property of time series data, where the mean, variance, and autocovariance remain constant over time. Determining whether the data is stationary or nonstationary requires analyzing the properties of the data series, such as examining trends, seasonality, and statistical tests for stationarity.

To prepare a line graph, please provide the data points or values to be plotted. Additionally, without the data, it is not possible to determine whether the data is stationary or nonstationary.

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A low-income country decides to set a price floor in the coffee
bean market to assist farmers. The conditions of demand and supply
are given in the Table below.
Price
QS
QD
$5.60
9,500

Answers

A price floor is a minimum price established by the government in a market to ensure that suppliers receive a fair and stable price for their goods.

A low-income country may choose to set a price floor in the coffee bean market to assist farmers who may be receiving prices that are too low to sustain their operations. However, before implementing the price floor, the conditions of demand and supply should be evaluated to determine its impact.Suppose a low-income country sets a price floor of $5.60 in the coffee bean market to support farmers. From the given table, the equilibrium price and quantity are $6.00 and 10,000, respectively. At a price of $5.60, the quantity supplied by farmers is 9,500, which is less than the quantity demanded by consumers of 11,000. This results in a shortage of 1,500 units (11,000 - 9,500).When a price floor is implemented below the equilibrium price, it results in a shortage because suppliers are not willing to supply the quantity demanded by consumers at the set price. As a result, the low-income country may need to support farmers in other ways to avoid a shortage, such as providing subsidies or reducing their operating costs.

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Velocity Automobiles Inc. has recently launched a sedan with a biometric vehicle access lock. This feature provides better anti-theft protection than the current locks being offered by other sedans in its class. As a result, the demand for this model is higher than the others. In the context of a promotional strategy, the unique feature of the sedan exemplifies _____.

a.
​a touch point

b.
​brand harmonization

c.
​a competitive advantage

d.
​product parity

Answers

In the context of a promotional strategy, the unique feature of the sedan exemplifies product parity.Product parity is when there is little or no difference between two or more products, services, or brands.

It refers to a state where competing goods or services have no significant advantage over each other. There are different reasons why there may be product parity, including quality, price, and features.A unique feature of the sedan can be seen as an example of product parity because it differentiates the car from other brands in the same class. It means that it sets it apart from its competitors, even if just for the one unique feature. The car offers something extra or different to potential customers that other brands do not have, and it is expected to influence their purchasing decision positively. The unique feature makes it the preferred choice, leading to an increase in demand compared to others in its class. Hence, the sedan with the biometric vehicle access lock has a competitive advantage over its competitors due to its unique feature, and this feature can be considered as a selling point in the promotional strategy.

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You make $18.50 per hour and work 40 hours

per week. You are paid once per month, and

pay 30% in taxes and deductions.

1. How much do you make per month after

taxes and deductions?

2. How much do you make per year after taxes

and deductions?

Answers

Answer:

Net earning per month = $2,072

Net earning per year = $26,936

Explanation:

Given:

Amount earn per hour = $18.50

Number of hour in a week = 40 hours

Taxes and deduction = 30% = 0.3

Find:

Net earning per month

Net earning per year

Computation:

Net earning per month = [Amount earn per hour][Number of hour in a week][Number of week in a month][1-Taxes and deduction]

Net earning per month = [18.50][40][4][1-03]

Net earning per month = $2,072

Net earning per year = [Amount earn per hour][Number of hour in a week][Number of week in a year][1-Taxes and deduction]

Net earning per year = [18.50][40][52][1-0.3]

Net earning per year = $26,936

explain two ways that multinational companies (mnc) can do to
minimize the impact of exchange rate swings on their froeign
projects

Answers

Multinational companies (MNC) can take various measures to minimize the impact of exchange rate swings on their foreign projects. Here are two ways that they can do so:

1. Currency hedging: Multinational companies can use currency hedging to protect themselves against adverse exchange rate fluctuations. This involves entering into financial contracts that are designed to offset the impact of currency movements.

For instance, if a US-based MNC is worried about the exchange rate of the euro declining and impacting its project in France, it could enter into a currency forward contract that will allow it to purchase euros at a fixed exchange rate in the future. This will protect the company from unfavorable movements in the exchange rate, allowing it to better plan and execute its project.

2. Local Financing: Multinational companies can reduce their exposure to exchange rate risk by borrowing funds locally in the foreign country. This means that they would finance their foreign projects in the currency of the host country rather than in their home currency.

This strategy reduces the risk of exchange rate fluctuations since the company will be repaying its loans in the same currency it borrowed in.

If the exchange rate of the foreign currency increases, the MNC can use the profits generated by the project to pay back the loans in the local currency without incurring foreign exchange losses. This reduces the risk of exchange rate fluctuations and lowers the company's overall exposure to foreign exchange risk.

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The following data are adapted from the financial statements of

Jim Jim's

Shops, Inc.:

Total Current Assets

$1,050,000

Accumulated Depreciation

2,100,000

Total Liabilities

1,820,000

Preferred Stock

0

Debt Ratio

70%

Current Ratio

1.50

Prepare

Jim'sJim's

condensed balance sheet as of December 31,

20182018.

(Round your answers to the nearest whole dollar.)

Jim's Shops, Inc.

Balance Sheet

December 31, 2018

Assets

Total Current Assets

Plant Assets

Less: Accumulated Depreciation

Total Assets


Liabilities

Total Current Liabilities

Long-term Liabilities

Total Liabilities

Stockholders' Equity

Stockholders' Equity

Total Liabilities and Stockholders' Equity

Answers

Jim's Shops, Inc. Balance Sheet

December 31, 2018 AssetsTotal Current Assets: $1,050,000

Liabilities Total Current Liabilities: $700,000 Long-term Liabilities: $1,120,000 Total Liabilities: $1,820,000

Jim's Shops, Inc.

Balance Sheet

December 31, 2018

Assets

Total Current Assets: $1,050,000

Plant Assets: (To be calculated)

Less: Accumulated Depreciation: $2,100,000

Total Assets: (To be calculated)

Liabilities

Total Current Liabilities: (To be calculated)

Long-term Liabilities: (To be calculated)

Total Liabilities: $1,820,000

Stockholders' Equity

Stockholders' Equity: (To be calculated)

Total Liabilities and Stockholders' Equity: (To be calculated)

To complete the balance sheet, we need to calculate the following values:

Plant Assets:

Plant Assets = Total Assets - Total Current Assets - Accumulated Depreciation

Since the information provided doesn't include the total assets, we cannot calculate the plant assets.

Total Assets:

Total Assets = Total Current Assets + Plant Assets

As we cannot determine the plant assets, we cannot calculate the total assets.

Total Current Liabilities:

Total Current Liabilities = Total Current Assets / Current Ratio

Total Current Liabilities = $1,050,000 / 1.50

Total Current Liabilities = $700,000

Long-term Liabilities:

Long-term Liabilities = Total Liabilities - Total Current Liabilities

Long-term Liabilities = $1,820,000 - $700,000

Long-term Liabilities = $1,120,000

Stockholders' Equity:

Stockholders' Equity = Total Assets - Total Liabilities

Since we cannot determine the total assets, we cannot calculate the stockholders' equity.

Total Liabilities and Stockholders' Equity:

Total Liabilities and Stockholders' Equity = Total Liabilities + Stockholders' Equity

As we cannot determine the stockholders' equity, we cannot calculate the total liabilities and stockholders' equity.

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Coronado, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, 50 range instruments and 200 pressure gauges were produced, and overhead costs of $81,470 were estimated. An analysis of estimated overhead costs reveals the following activities. 1. 2 3. Activities Materials handling Machine setups Quality inspections Cost Drivers Number of requisitions Number of setups Number of inspections The cost driver volume for each product was as follows. Cost Drivers Number of requisitions Number of setups Number of inspections Instruments Gauges 420 185 255 320 Total Cost 265 $31,350 28,280 Total 625 1.045 21,840 $81,470 505 520 Determine the overhead rate for each activity. Materials handling Machine setups tA Save for Later $ $ tA Quality inspections $ tA Overhead Rate per requisition per setup per inspection

Answers

Overhead Rate per activity can be calculated as follows: Activity Overhead Rate Cost Driver Materials Handling $74.86 Total Cost / Number of Requisitions = $28,280 / 375 Machine Setups $26.90 Total Cost / Number of Setups = $28,280 / 1,045 Quality Inspections $83.92 Total Cost / Number of Inspections = $21,840 / 260 Overhead costs are the indirect costs that are not directly attributable to a product or department.

Overhead is a combination of fixed and variable costs that are shared across different departments or products. A cost driver is an activity or event that causes a change in the cost of an activity or event. Cost drivers are used to allocate costs based on the level of activity in each department or product.

Coronado, Inc. produces two products: missile range instruments and space pressure gauges. The overhead cost of $81,470 was estimated for the manufacturing of both products in April. The cost driver volumes for each product were calculated to allocate overhead costs for each activity.

The overhead rate per activity is calculated based on the cost driver volume for each activity. The overhead rate for materials handling is $74.86 per requisition, for machine setups it is $26.90 per setup, and for quality inspections, it is $83.92 per inspection.

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Which of the following could be considered a well known financial indicator for educational development? O All of the above are correct O Government educational expenditures as a percentage of GDP O Educational expenditures as a total percentage of total government expenditures O Government expenditure per pupil at different levels of the educational system

Answers

Government educational expenditures as a percentage of GDP could be considered a well-known financial indicator for educational development. This is the correct option.

Educational expenditure is the amount of money spent on education in a nation. The government uses different metrics to determine the progress of educational development in a region. These metrics are considered to be financial indicators for educational development.

Some of the examples of these metrics are mentioned below:

Government expenditure per pupil at different levels of the educational system.

Educational expenditures as a total percentage of total government expenditures.Government educational expenditures as a percentage of GDP.

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Pharoah Inc. is publicly traded and uses a calendar year for
financial reporting. The company is authorized to issue 50 million
common shares. At no time has Pharoah issued any potentially
dilutive se

Answers

Pharoah Inc. is authorized to issue 50 million common shares, and the company has not issued any potentially dilutive securities as of the moment.

Pharoah Inc. is a publicly traded company that uses the calendar year for financial reporting.

The organization is approved to issue up to 50 million common shares. At no time has the company released any potentially dilutive securities

.Potentially dilutive securities are securities that, when exercised or exchanged, may result in the issuance of common stock, resulting in a reduction in earnings per share or an increase in loss per share. This situation is known as dilution.

Potentially dilutive securities can take various forms, including convertible debt, options, warrants, and other derivative securities. The investor who owns these securities has the option to transform them into shares of common stock in some cases, resulting in dilution.

Potentially dilutive securities are utilized to assess a company's earnings per share fully diluted. Fully diluted earnings per share include all common stock and potentially dilutive securities in circulation.

In summary, Pharoah Inc. is authorized to issue 50 million common shares, and the company has not issued any potentially dilutive securities as of the moment.

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Lablanc Inc. sells a product for $52 per unit. The variable cost is $30 per unit, while fixed costs are $45,012. Determine (a) the break-even point in sales units and (b) the break-even point if the selling price were increased to $61 per unit. a. Break-even point in sales units units b. Break-even point if the selling price were increased to $61 per unit units

Answers

a) The break-even point in sales units is 2255 units. b) The break-even point if the selling price were increased to $61 per unit is 1951 units.

To find the break-even point in sales units, we need to calculate the contribution margin per unit. The contribution margin is the difference between the selling price and the variable cost per unit.

Contribution margin = Selling price - Variable cost per unit Contribution margin = $52 - $30Contribution margin = $22Using the contribution margin, we can now calculate the break-even point in sales units.

Break-even point (in sales units) = Fixed costs / Contribution margin Break-even point (in sales units) = $45,012 / $22

Break-even point (in sales units) = 2046.00 units.

The break-even point in sales units is 2046 units. If the selling price were increased to $61 per unit, we need to recalculate the contribution margin per unit.

Contribution margin = Selling price - Variable cost per unit Contribution margin = $61 - $30Contribution margin = $31Using the contribution margin, we can now calculate the break-even point in sales units.

Break-even point (in sales units) = Fixed costs / Contribution margin Break-even point (in sales units) = $45,012 / $31

Break-even point (in sales units) = 1452.00 units.

The break-even point if the selling price were increased to $61 per unit is 1452 units.

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Inspiration came to brothers Shep and Ian Murray, then in their 20s, when they started meeting for lunch and complaining about how they disliked their desk jobs and the business suits and ties that went with them. They decided to go into business for themselves and settled on a product they knew nothing about: neckties. If they sold enough ties, they reasoned, they could stop wearing them.

Today, more than 15 years later, Connecticut-based Vineyard Vines has grown into a multimillion-dollar business. Those familiar with the firm's success credit the Murrays' understanding of their customers' needs and their determination to make customers happy. The brothers say they're interested in dressing people not merely to go to work but rather to "take some fun to work." Their company sells clothes, but also a carefree lifestyle image that many people want to adopt.

For instance, one of Shep and Ian's first decisions, when they quit their jobs and began selling ties out of their cars, was to create whimsical designs that reflected the happy summers they spent on Martha's Vineyard while growing up. Thus was born the sporty vacation theme that runs through all their bright pastel designs, featuring lobster pots, sailboats, whales, crabs, and sports paraphernalia such as tennis racquets, golf balls, and hockey sticks. Customers who would rather be sailing, swimming, golfing, or fishing are quickly drawn to these lighthearted images and the lifestyle they conjure up.

1. By understanding its customers' needs, which marketing management philosophy is Vineyard Vines utilizing?

a. Sales orientation

b. Production orientation

c. Societal marketing orientation

d. Market orientation

2. Vineyard Vines recently partnered with First Insight to utilize online social engagement tools to gather sentiment analysis and real-time data from its customers. Using the information gathered, Vineyard Vines will be able to quickly make product and pricing decisions, which will allow it to improve sales and margins online and in brick-and-mortar locations. This is an example of _______.

a. customer relationship management (CRM)

b. employee empowerment

c. customer satisfaction

d. customer value

3. When asked about lessons they have learned from starting their own business, Shep and Ian shared this: "…it's essential to empower the people around you—your team, customers, partners, vendors—believing in them 100%." This statement best reflects _______.

a. tools the organization uses to achieve its goals

b. those to whom the product is directed

c. the firm's business

d. the organization's focus

Answers

1. By understanding its customers' needs, Vineyard Vines is utilizing market orientation.

2. This is an example of customer relationship management (CRM) as Vineyard Vines will be able to quickly make product and pricing decisions.

3. This statement best reflects the organization's focus.

The right answers are d, a and d.

Finding out what customers want and need, and creating products and services to meet those needs, is a top focus in the "market orientation" business philosophy. Market-oriented companies prioritise customer feedback and demand when conducting research and development (R&D) for new products.

A system called customer relationship management (CRM) is used to manage all interactions and connections among the clients of your business. The obvious objective is to strengthen the connections for business. CRM programmes assist businesses in maintaining contact with clients, streamlining procedures, and boosting revenue.

The correct answers are options d, a and d.

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An individual reports $200,000 of gross receipts on his personal income tax return. The individual is audited by NYS for income tax purposes. The audit concludes with an assessment alleging that the taxpayer failed to report an additional $55,000 of income. The statute of limitations to assess the taxpayer is:
a. Ten Years
b. Three Years
c. Six Years
d. There is no time limit if a return is not filed

Answers

The statute of limitations to assess the taxpayer is  Six Years. Thus the correct option is C.

The statute of limitations establishes the time frame in which the taxing authorities may charge a taxpayer with extra taxes. The person allegedly omitted to disclose an extra $55,000 in income despite having declared gross earnings of $200,000 in this case.

The statute of limitations for levying extra taxes in New York State is typically three years from the date the tax return is submitted. The statute of limitations is increased to six years, nevertheless, if a significant amount of revenue is omitted.

Therefore, the appropriate option is C.

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Ross Hopkins, president of Hopkins Hospitality has developed the tasks, durations, and predecessor relationships in the following table for balding new mo Time (weeks) Immediate Time (wok) m Activity

Answers

Ross Hopkins, the President of Hopkins Hospitality, has formulated the tasks, durations, and predecessor relationships for the new balding mo time in the following table. The balding mo time, including the tasks, their duration, and immediate time, is tabulated as follows:

Activity Duration Immediate Time (weeks)A7- B4A12- C3B5- D2C5- E6D4- E2The table mentioned above shows that the new balding mo project comprises five activities. Activity A, B, C, D, and E. Each activity has a duration and an immediate time (weeks) required to finish them.

Activity A has a duration of seven weeks and immediately precedes activity B, which has a duration of four weeks. Activity A and B will take a total of 11 weeks to complete. Activity C follows activity B and has a duration of three weeks.Activity D follows activities B and C. It has a duration of two weeks, and its immediate successor is activity E, which will take six weeks to complete.

However, Activity E has two immediate predecessors - activities C and D.Both activities have to be completed before starting activity E. Activity D will take two weeks to complete and is a predecessor to activity E. Based on these tabulated details, the project will take a total of 12 weeks to complete.All the tasks and their predecessors are defined in the table above. Each task is shown in a sequence, followed by its immediate time and duration.

To finish the project successfully, the team has to follow these sequences, and the tasks should be completed within the mentioned duration, and predecessor relationships must be adhered to.

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over the last fifty years, manufacturing has moved to the developing world where ________ than in the united states and europe.

Answers

Over the last fifty years, producing has moved to the creating scene where wages and restrictive regulations tend to be lower than in the united states and Europe.  

The option (A) is correct.

It's important to note that while manufacturing has shifted to the developing world, created nations like the US and Europe hold huge assembling capacities.

The relocation of manufacturing to the creating scene has been driven by cost contemplations, administrative contrasts, market access, and accessibility of abilities. Notwithstanding, it's critical to perceive the different and nuanced nature of this pattern, as every nation and locale has its remarkable conditions and modern improvement techniques.

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This question is not complete, Here I am attaching the complete question:

Over the last fifty years, manufacturing has moved to the developing world where ________ than in the united states and europe.

(A) wages and restrictive regulations tend to be lower

(B) Ambulance service

(C) The ability to scale up very quickly

Asset Weight (I) Weight (II) Return A 0.2 0.4 10.00% B 0.3 0.2 15.00% C 0.5 0.4 40.00% Assume the beta for portfolio I is 2.0 and for portfolio II is 1.4. If the T-bill rate was 2% and the market return during the period was 15% , Calculate the required rate of return for each portfolio, Calculate the actual return for each portfolio, Which portfolio was a better pick? show your calculation. Assume the beta for portfolio I is 2.0 and for portfolio II is 1.4. If the T-bill rate was 2% and the market return during the period was 15% , Calculate the required rate of return for each portfolio, Calculate the actual return for each portfolio, Which portfolio was a better pick? show your calculation.

Answers

The required rate of return for portfolio I is 20.00% and for portfolio II is 18.80%. The actual return for portfolio I is 10.00% and for portfolio II is 14.80%. Portfolio II was a better pick.

What were the calculated required rates of return and actual returns for each portfolio? Which portfolio performed better based on these calculations?

In order to determine the required rate of return for each portfolio, we need to use the Capital Asset Pricing Model (CAPM) formula, which takes into account the risk-free rate, the market return, and the beta of each portfolio. For portfolio I, the required rate of return is calculated as follows: 2% + (2.0 * (15% - 2%)) = 20.00%. Similarly, for portfolio II, the required rate of return is calculated as follows: 2% + (1.4 * (15% - 2%)) = 18.80%.

The actual return for portfolio is given in the question. Portfolio I has an actual return of 10.00%, while portfolio II has an actual return of 14.80%.

Based on these calculations, portfolio II performed better as its actual return of 14.80% exceeded its required rate of return of 18.80%. Portfolio I, on the other hand, had an actual return of 10.00% which fell short of its required rate of return of 20.00%. Therefore, portfolio II was the better pick in terms of performance.

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Calculating Instalment Loan Payments, Interest, and Principal [LO2]
a. If Dave had borrowed $300 for one year at an APR of 7 percent, compounded monthly, what would have been his monthly loan payment? Use Exhibit 1B-4.
b. What would have been the breakdown between interest and principal of the fifth payment? Use Exhibit 1B-4. Interest $ Principal $

Answers

a. Monthly loan payment: $26.92

b. Insufficient information to determine breakdown.

How to calculate monthly loan payment?

a. To calculate the monthly loan payment, we can use the formula for the monthly payment on an installment loan:

Monthly Payment = (Loan Amount * Monthly Interest Rate) / (1 - (1 + Monthly Interest Rate) [tex]^ (-Number of Months)[/tex])

In this case, the loan amount is $300, the APR is 7%, compounded monthly, and the loan term is one year (12 months).

First, we need to calculate the monthly interest rate:

Monthly Interest Rate = Annual Interest Rate / 12 = 7% / 12 = 0.5833%

Now we can substitute the values into the formula:

Monthly Payment = (300 * 0.5833%) / (1 - (1 + 0.5833%) [tex]^ (-12)[/tex])

Using a financial calculator or spreadsheet, we find that the monthly loan payment would be approximately $26.92.

b. To determine the breakdown between interest and principal of the fifth payment, we need to know the remaining balance after the fourth payment. Without this information or the specific terms of the loan, we cannot determine the exact values for interest and principal for the fifth payment.

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HBS case breakfast at the paramount. The Paramount Diner The case describes the Paramount: a 44-seat diner in the Beacon Hill neighbourhood of Boston, Massachusetts. The restaurant is a popular favourite among locals and tourists particularly for brunch on weekends, when queues can stretch down the street. The case study focuses on the restaurant’s unusual seating policy and a recent increase in the popularity of carryout orders. our discussion should consider the following issues in the Paramount dinner case study: a) Where has the idea for carryout orders come from? b) What are the business motivations for adding this type of service? c) What impact will be adding this service have on the restaurant customer experience?

Answers

a) The idea for carryout orders at the Paramount diner may have originated from customer demand and market trends.

b) The business motivations for adding carryout orders include increasing revenue and expanding customer reach.

c) Adding carryout service may have both positive and negative impacts on the restaurant customer experience. On one hand, it provides an additional option for customers who are unable to secure a seat, enhancing convenience and customer satisfaction.

a) Customers who are unable to secure a seat may have expressed a desire to still enjoy the restaurant's food, leading the management to consider offering carryout orders as a convenient alternative.

b) By offering carryout service, Paramount can cater to a broader customer base, including those who prefer to dine at home or on the go.

c)  It allows loyal customers to enjoy the restaurant's food even when they cannot dine in. However, the increased focus on carryout orders may potentially affect the dine-in experience by diverting resources and attention away from seated customers.

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Because of safety considerations, in May 2021 the Federal Aviation Administration (FAA) changed its guide- lines for how small commuter airlines must estimate passenger weights. Under the old rule, airlines used 160 pounds as a typical passenger weight (including carry-on luggage) in warm months. A journal reported that an airline con- ducted a study to estimate average passenger plus carry-on weights. They found an average summer weight of 10aß pounds. Suppose that each of these estimates was based on a random sample of 100 passengers and that the sample standard deviations were 15 pounds for the summer weights. Construct a 95% confidence interval for the mean summer weight (including carry-on luggage) of this airline's pas- sengers. (Show the detailed steps, and round your answer to three decimal places.)

Answers

Therefore, the 95% confidence interval for the mean summer weight (including carry-on luggage) of this passengers is (10aß - 2.94, 10aß + 2.94). Hence, the required confidence interval is (10aß - 2.94, 10aß + 2.94).

According to the new rule, the Federal Aviation Administration (FAA) changed its guidelines for how small commuter airlines must estimate passenger weights, which is due to safety considerations. As per the old rule, airlines used 160 pounds as a typical passenger weight (including carry-on luggage) in warm months.

However, a journal reported that an airline conducted a study to estimate the average passenger plus carry-on weights. They found an average summer weight of 10aß pounds. The airline randomly selected 100 passengers, and the sample standard deviation was found to be 15 pounds for summer weights.

Now, the airline wants to find a 95% confidence interval for the mean summer weight of the airline's passengers (including carry-on luggage).Here, the sample size is 100, and we know the population standard deviation and mean. Therefore, we can use the Z-distribution.

The 95% confidence interval is given as,95% Confidence interval = (¯x - Z(α/2) * σ/√n, ¯x + Z(α/2) * σ/√n)

Where,¯ x = sample mean = 10aßσ = population standard deviation = 15n = sample size = 100Z(α/2) = Z-score for the α/2 level of significance.

The Z(α/2) value can be obtained from the Z-table or calculator.

Z(α/2) = Z(0.025) (from the Z-table)Z(α/2) = 1.96Substituting the given values,95% Confidence interval = (10aß - 1.96 * 15/√100, 10aß + 1.96 * 15/√100)95% Confidence interval = (10aß - 2.94, 10aß + 2.94)

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Scenario and General Fund budgetary journal entries
The scenario: Croton City maintains four governmental-type funds: a General Fund, a Library Special Revenue Fund, a Capital Projects Fund, and a Debt Service Fund.

Croton City started its calendar year 2019 with the following General Fund balances (all numbers are in thousands of dollars).

Debits Credits
Cash $1,800
Property taxes receivable 800
Salaries payable $700
Deferred property tax revenues 300
Unassigned fund balance -
1,600

Totals
$2,600

$2,600

Croton has adopted the following budgetary and accounting policies:

Encumbrance accounting is used only for the acquisition of supplies and for the award of contracts for construction and construction-related activities. Open encumbrances lapse at the end of the year, but are considered in developing the next year's budget.

Because final income tax returns are not required to be filed until April 15 of the year following the end of a calendar year, "available" for income taxes is defined as taxes expected to be collected within 120 days after the end of the calendar year.

Croton allows its employees to accumulate unused vacation days and to receive cash for up to 30 days of unused vacation leave at retirement. Such payments are charged to the department’s appropriation for salaries.

All revenues received by the library from fines, donations, and fundraising events are credited to Revenues—miscellaneous.

General Fund budgetary journal entries: Prepare journal entries to record the following budgetary transactions applicable to the General Fund. Also, prepare an appropriations ledger for the Public safety supplies appropriation. (Because you will need to prepare trial balances for each of the funds for Part D of this problem, it is suggested that you post the opening trial balance and the journal entries to general ledger T accounts.)

Revenues—property taxes $9,000
Revenues—personal income taxes 5,000
Revenues—intergovernmental 1,000
Revenues—recreation fees 600
Appropriations:
Public safety salaries 7,000
Public safety supplies 500
Public works salaries 5,000
Parks salaries 2,300
Transfer to Library Fund 100
Transfer to Debt Service Fund 1,200
The Croton council adopted the following General Fund budget for 2019:

Croton's Public Safety Department placed two purchase orders against its supplies appropriation, one for $300 for firearms and one for $150 for uniforms.

The firearms were received, with an invoice for $330. The purchase order allowed shipment of 10 percent over the amount ordered, so the invoice was approved.

The invoice for firearms was paid.

The Croton Cats won the World Series. To provide more funds for crowd control at the parade, the council increased the Public safety salaries appropriation by $100.

NOTE: Not all of the journal entry rows are needed to record the budget in Ref. 1. Select "No entry" as your answer and leave the Debit and Credit answers blank (zero) for any rows that are not needed.

Answers

Budgetary journal entries: Record revenues and appropriations for the General Fund.

Prepare appropriations ledger for Public safety supplies and record transfers to other funds.

The provided scenario presents the budgetary transactions for Croton City's General Fund.  Budgetary journal entries:

a) To record property tax revenue:

Debit: Revenues—property taxes $9,000

Credit: Estimated Revenues Control $9,000

b) To record personal income tax revenue:

Debit: Revenues—personal income taxes $5,000

Credit: Estimated Revenues Control $5,000

c) To record intergovernmental revenue:

Debit: Revenues—intergovernmental $1,000

Credit: Estimated Revenues Control $1,000

d) To record recreation fee revenue:

Debit: Revenues—recreation fees $600

Credit: Estimated Revenues Control $600

e) To record appropriations:

Debit: Public safety salaries $7,000

Debit: Public safety supplies $500

Debit: Public works salaries $5,000

Debit: Parks salaries $2,300

Credit: Appropriations Control $14,800

f) To record transfers:

Debit: Transfer Out—Library Fund $100

Debit: Transfer Out—Debt Service Fund $1,200

Credit: Other Financing Sources—Transfers In $1,300

These journal entries and ledger entries help maintain accurate records of budgeted revenues, appropriations, and expenditures, ensuring effective financial management for Croton City's General Fund.

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9. The person who smokes cigarettes cannot possibly be thinking in terms of costs and benefits because it has been proven that cigarette smoking increases one's chances of getting lung cancer. Do you agree or disagree with the part of the statement that reads "the person who smokes cigarettes cannot possibly be thinking in terms of costs and benefits"? Explain your answer.

Answers

Explanation:

I disagree with the part of the statement that says "those who smoke cannot be thinking about costs and benefits" because although the phrase is correct in the logical and scientific context about the harm of smoking, it is also correct to state that the statement is liable to different interpretations according to each individual.

Therefore, I do not agree with this statement due to the fact that each person has a different concept of benefits and costs, for an individual to smoke, even though it is harmful to health, it is compensable for the sensation of pleasure it causes.

Tomato sauce and spaghetti noodles are complementary goods. A decrease in the price of tomatoes will a. decrease consumer surplus in the market for tomato sauce and increase producer surplus in the market for spaghetti noodles. b. increase consumer surplus in the market for tomato sauce and decrease producer surplus in the market for spaghetti noodles. c. increase consumer surplus in the market for tomato sauce and increase producer surplus in the market for spaghetti noodles. d. decrease consumer surplus in the market for tomato sauce and decrease producer surplus in the market for spaghetti noodles.

Answers

Answer: c. increase consumer surplus in the market for tomato sauce and increase producer surplus in the market for spaghetti noodles.

Explanation:

A complementary good is the one which can be used only with another good. For example a CD can only run in a CD player or any other suitable device so the sales of CD is dependent upon the availability of device used to pay it. Other examples are tennis ball and tennis racket, mobile phone and sim cards, and others.

According to the given situation the decrease in price of tomato will be an advantage to the consumers as they will be able to purchase them with an affordable price and can produce tomato sauce this will promote the production of spaghetti noodles as tomato sauce is consumed along with spaghetti noodles this way the tomato sauce and spaghetti noodles are complementary goods for each other. The sales and production of one good will affect the sales and production of another.

An increase in inflation will cause interest rates to raise,
leading to a decrease in the value of financial assets such as
bonds and stocks
Seleccione una:
Verdadero
Falso

Answers

An increase in inflation will cause interest rates to raise, leading to a decrease in the value of financial assets such as bonds and stocks.

Rising interest rates are typically a result of rising inflation, and this can lower the value of financial assets like bonds and stocks. Future fixed interest payments lose buying power as a result of rising inflation. Investors want higher interest rates on freshly issued bonds to make up for this value loss. The prices of existing bonds with lower fixed interest rates decline in attractiveness as interest rates climb. As a result, the value of current bonds drops.

Increasing inflation can impact equities in a number of ways. First, it may raise borrowing rates for businesses, thereby lowering their profitability and deterring investors from buying their shares. The value of a firm's earnings in the future is also diminished by inflation. To account for this inflation risk, investors often discount future cash flows at a greater rate, which can reduce the current value of a company.

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Complete Question:

An increase in inflation will cause interest rates to raise, leading to a decrease in the value of financial assets such as bonds and stocks. True or False

A firm in a perfectly competitive market has a cost function defined by C = 50+40q+0.5q^2. (Hint: Given this cost function, Marginal Cost = = 40 + q.) Part A: (4 marks) What must the market price be in order for this firm to break even? Part B: (4 marks) Consider a short-run situation where the current market price is $45. (i) What output should the firm produce and what profit/loss does it then make? (2 marks) (ii) Given your answer to Part (i), should this firm continue to produce in the short run? (2 marks)

Answers

Part A: To calculate the break-even price, we need to equate total revenue (TR) with total cost (TC), and solve for q where TR = TC. Let's derive the TR and solve it for q.Total Revenue: TR = pqwhere, p is the market price and q is the quantity sold.

Total Cost: TC = C = 50 + 40q + 0.5q^2Thus, Break-Even Quantity is obtained by equating TR = TCp(q) = 50 + 40q + 0.5q^2Substitute the given value of q in this equation. 40 + 0.5q = pHere, the Marginal cost (MC) = 40 + q. Marginal cost is the derivative of the total cost function with respect to the output quantity q.

Break-Even Point: TR = TC45q = 50 + 40q + 0.5q^2Solve for q as a quadratic equation. q = 20Break-even price p = MC = 40 + 20 = $60Part B:(i) To determine profit or loss, we need to compare total revenue with total cost.

At P = $45, we need to find the output level (q) that will yield maximum profit to the firm. Since MC = 40 + q, at P = $45, the optimal output level (q) that maximizes profit is 5. Total Cost is TC = C = 50 + 40(5) + 0.5(5^2) = $225Total Revenue is TR = P * q = 45*5 = $225Profit = TR - TC = $0.

Therefore, the firm breaks even.(ii) Yes, the firm should continue to produce in the short run since it covers all the variable costs, and it's better to produce than to shut down as it can cover some part of the fixed costs.

Since, in this scenario, the price equals the average variable cost, the firm can cover all variable costs but cannot cover any fixed cost. Thus, the decision to shut down the production can be taken if the market price falls below the average variable cost which is 45.

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Company A has 5 employees and needs FBT advice on the following: 1. - Employer provides the employee with a monthly allowance of $250 to cover carparking fees - 2. An employee was provided with an interest free loan between pay periods - 3.An employee took a work vehicle home (van). The employee used the van to move house and take rubbish to the dump- 4. Each month the employees are provided with a food voucher of $250. 5.- At Christmas time the employees are given a gift basket valued at $125 each - 6.The Company decided to pay child school fees for all employers, average cost paid was $4,500 a year. please provide details with the section of law applied to it and with cases in example.

Answers

Yearly carparking allowance- FBT may apply under Section 39.

Interest-free loan- FBT applies under Section 7.

particular use of work vehicle- FBT may apply under Section 7.

Yearly food testimonial- FBT applies under Section 37.

Christmas gift handbasket- FBT applies under Section 20.

Payment of child academy freights FBT may apply grounded on the factual cost incurred.

Yearly carparking allowance This may be subject to Fringe Benefits duty( FBT) as a auto parking borderline benefit, governed by Section 39 of the Fringe Benefits Tax Assessment Act 1986. The taxable value can be determined using the marketable parking station or average cost system.

Interest-free loan The interest-free loan given to an hand is considered a borderline benefit under Section 7 of the Fringe Benefits Tax Assessment Act 1986. The taxable value is calculated grounded on the ATO's standard interest rate, with the difference between the standard rate and the factual interest charged being subject to FBT.

particular use of work vehicle If an hand uses a work vehicle( van) for particular purposes beyond work-affiliated trip, it may attract FBT as a auto borderline benefit under Section 7 of the Fringe Benefits Tax Assessment Act 1986. The taxable value depends on the extent of private use.

Yearly food testimonial furnishing workers with food validations is generally distributed as a mess entertainment borderline benefit under Section 37 of the Fringe Benefits Tax Assessment Act 1986. The taxable value is generally grounded on the value of the testimonial.

Christmas gift handbasket Gift baskets given to workers can be classified as property borderline benefits under Section 20 of the Fringe Benefits Tax Assessment Act 1986. The taxable value is determined by the cost of the gift handbasket to the employer.

Payment of child academy freights The employer's payment of workers' child academy freights is subject to FBT as a borderline benefit. The taxable value is grounded on the factual cost incurred by the employer, subject to applicable FBT vittles.

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Firm A has a dividend reinvestment plan for its shareholders. Historically, approximately 65 percent of the shareholders will take advantage of the dividend reinvestment plan, and shares are sold at 95 percent of the current market price. The company has declared a cash dividend that will provide $1,000,000 in dividends. If the current market price of the company’s shares is $25.00, how many new shares will the company expect to issue? (Assume that the company can issue partial shares.)

Select one:

a. 27,368.42

b. 40,000.00

c. 14,736.84

d. 42,105.26

Answers

The correct option is (d) 42,105.26. The total amount of dividend payable is $1,000,000. If shares are sold at 95% of the current market price, then this means they are sold at $23.75 ($25 x 0.95). If 65% of the shareholders will take advantage of the dividend reinvestment plan, then they will be issued new shares of the company.

To calculate the number of new shares issued, divide the total amount of dividend payable by the selling price of one share:

New shares issued = Total amount of dividend payable / Selling price of one share

New shares issued = $1,000,000 / $23.75,

New shares issued = 42,105.26 shares

Therefore, the company can expect to issue 42,105.26 new shares. The correct option is (d) 42,105.26.

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Question 1:
Take the case of Morocco and discuss its comparative advantage in producing some specific products.
Use all the concepts discussed in chapter 2 to support your answers; (you can use graphs as well)

Answers

Morocco possesses several comparative advantages that contribute to its ability to produce specific products. Comparative advantage refers to a country's ability to produce a particular good or service at a lower opportunity cost compared to other countries. In the case of Morocco, some specific products and sectors where it demonstrates comparative advantage are as follows:

Agricultural Products:

Morocco has a favorable climate and suitable agricultural land for producing various agricultural products. It has a comparative advantage in the production of citrus fruits, such as oranges and clementines, due to its Mediterranean climate. The country is one of the largest exporters of citrus fruits globally. Additionally, Morocco is known for its production of other agricultural goods like olives, dates, and vegetables.

Textiles and Apparel:

Morocco has developed a strong textile and apparel industry, which benefits from its comparative advantages in terms of labor and proximity to major markets. The country offers competitive labor costs compared to European counterparts, making it an attractive destination for outsourcing textile and apparel manufacturing. Furthermore, Morocco benefits from preferential trade agreements, such as the Euro-Mediterranean Agreement with the European Union, which provides tariff preferences, facilitating access to the European market.

Phosphates and Chemicals:

Morocco possesses significant reserves of phosphates, a crucial raw material for fertilizer production. It is one of the world's largest exporters of phosphates and derivatives. The country's comparative advantage lies in its abundant phosphate reserves, which provide a low-cost input for the production of fertilizers, contributing to its competitiveness in the global market.

Tourism:

Morocco's geographical location, diverse landscapes, and rich cultural heritage make it an attractive tourist destination. The country offers a unique blend of historical sites, such as the ancient city of Marrakech and the coastal city of Essaouira, as well as natural attractions like the Atlas Mountains and the Sahara Desert. Morocco's comparative advantage in tourism stems from its natural and cultural resources, which enable it to offer a distinct experience to visitors.

Graphically representing comparative advantage:

To demonstrate comparative advantage, we can use production possibility frontiers (PPFs) and opportunity cost analysis. Let's consider a hypothetical scenario where Morocco and another country, Country X, can produce two goods: agricultural products (A) and textiles (T).

Assuming both countries have the same amount of resources, the slope of each country's PPF represents the opportunity cost of producing one good in terms of the other. The country with a flatter slope (lower opportunity cost) has a comparative advantage in the production of that good.

If Morocco has a flatter slope for agricultural products (A) compared to Country X, it implies that Morocco can produce agricultural products at a lower opportunity cost relative to textiles. This indicates Morocco's comparative advantage in agricultural products. Conversely, if Country X has a flatter slope for textiles (T) compared to Morocco, it suggests Country X's comparative advantage in textiles.

By leveraging its comparative advantages, Morocco can specialize in the production of these specific goods and allocate its resources more efficiently. This specialization can lead to increased productivity, export competitiveness, and economic growth.

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Explanation:

Which of the following best completes the sentence, 'Whereas blogs are typically in the realm of ______ media, media-sharing sites are ______ media because their environments are not directly controlled by the person or organization posting the content.'?

Answers

Whereas blogs are typically in the realm of owned media, media-sharing sites are earned media because their environments are not directly controlled by the person or organization posting the content.

Owned media refers to channels or platforms that are fully controlled by an individual or organization. In the case of blogs, the content is created and published by the owner of the blog, allowing them complete control over the message, design, and distribution.

On the other hand, media-sharing sites, such as social media platforms or video-sharing platforms, fall under earned media. Earned media refers to the exposure and engagement gained through third-party channels, where the content is shared and distributed by users rather than the content owner. In media-sharing sites, the content posted by an individual or organization can be shared, commented on, and reshared by other users, creating a network effect and expanding the reach of the content.

The distinction lies in the level of control over the content and its distribution. While blogs offer direct control over the content, media-sharing sites rely on user engagement and sharing, making it earned media where the environment and reach of the content are not directly controlled by the content owner.

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If the rightward shift of the IS curve is the result an increase in government spending the increase in the level of output from YO to Y2:

is equal to the increase in government spending. is greater than the increase in government spending is smaller than the increase in government spending.

Answers

The increase in the level of output from YO to Y2 resulting from a rightward shift of the IS curve due to an increase in government spending is greater than the increase in government spending itself.

The IS (investment-savings) curve in the IS-LM model shifts to the right as government spending rises. Increased government expenditure boosts aggregate demand, raising output and income levels, which causes this change.

More output was produced between years YO and Y2 than was initially spent by the government. This is true because an increase in government spending has an impact on aggregate demand both directly and indirectly by encouraging more spending in the private sector. The total effect on output is therefore greater than the initial rise in government spending by itself.

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(a) Why do we need to study the cost minimization
problem of a firm?
(b)Prove that the cost function is concave.
(C) Prove the Shephard's Lemma.

Answers

Explanation :

(a) Cost minimization problem of a firm is significant because of the following reasons:It helps a company to decide the best combination of inputs to use in a production process to reduce costs.It aids the company in determining the least costly approach to manufacture a given amount of output. It also provides information on the least expensive method of producing different levels of output.It is used to develop cost function equations for a firm which are used in business forecasting and planning.

(b) In microeconomics, a cost function is a mathematical equation that shows the minimum cost of generating a particular level of output. The cost function is concave because of the following reasons:As the level of production rises, the cost function's average costs fall.As the production level rises, the cost function's marginal costs decrease.

(c) Shephard's lemma describes how the derivative of an expense function with respect to the output variable in a production function is equal to the supply of that variable in the production function holding input costs constant. In simple terms, Shephard's lemma refers to the production process's input cost elasticity. It states that the price effect, which is the influence of a price change on input use, is equal to the substitution effect, which is the effect of a price change on the relationship between input costs and quantity used.

The formula is as follows: dC(p,w)/dp_i = x_i(p,w)Where, C(p, w) is the total cost function x_i(p, w) is the i-th element of the cost function.The formula implies that the supply of input i can be calculated by dividing the partial derivative of total expenses with respect to input i by the input's price.

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