The demand curve of a monopolistically competitive firm A) is horizontal because the firm must cut its price to sell more. B) is perfectly elastic.
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The demand curve of a monopolistically competitive firm A) is horizontal because the firm must cut its price to sell more.
The demand curve of a firm that is perfectly competitive is horizontal at the market price. As a result, every unit sold will result in it receiving the same price. The difference in total revenue from selling one more unit at the constant market price is the marginal revenue that the company receives.A monopolistically competitive firm's perceived demand curve slopes downward, indicating that it sets prices and selects a mix of quantity and price.
Why is the demand curve in monopolistic competition more elastic than a monopoly?
Firm's demand curve under monopolistic competition is more elastic than under monopoly because of availability of close substitutes under monopolistic competition.
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Twenty years ago, you won a state lottery, and you received $15,000 at the end of each of the next 10 years, and $20,000 at the end of years 11 through 15. Since you did well in FIN 3403, you decided to invest each of your lottery payments. If you earned 9% per year, how much do you have at the end of year 20
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The value of the amount won at the lottery at the end of 20 years is $723,672.24.
What is the value at the end of 20 years?The formula for calculating future value of annuities is: yearly amount x annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
Where:
r = interest rate n = number of yearsAnnuity factor for the first ten years = [(1.09^10) - 1] / 0.09 = 15.19293
15.19293 x $15,000 = $227,893.95
Annuity factor for the last 5 years = [(1.09^5) - 1] / 0.09 = 5.9847
5.9847 x 20,000 = $119,694.21
Future value of the lump sum of $227,893.95 in 10 years = $227,893.95 x (1.09^10) = 539,507.86
Future value of the lump sum of $119,694.21 in 5 years = $119,694.21 x (1.09^5) = $184,164.38
Value in year 20 = $184,164.38 + 539,507.86 = $723,672.24
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A vital component of marketing is ______, which involves letting customers know the benefits of the product/service, where you can buy it, and describing the value proposition of the product/service.
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The vital component of marketing is promotion.
Promotion in marketing refers to any sort of marketing communication that is used to enlighten target audiences about the relative qualities of a product, service, brand, or problem, and is usually persuasive in nature. It assists marketers in creating a distinct space in the minds of their customers, which can be either cognitive or emotional.
Marketing relies heavily on promotion. Marketing promotion is described as a method of communication between buyer and seller in which the buyer persuades his or her audience to purchase his or her items.
Advertising, sales promotion, public relations, and direct marketing are the four primary promotional strategies.
Hence, the blank will be filled by promotion.
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Nellie works as an attorney for a large consulting firm. Nellie's job is to act as an advisor to the firm's consultants, to be sure they do not confront any legal issues when they are working at the various clients' job sites. Nellie's position would be classified as a __________ position.
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Nellie's position would be classified as a staff position since he working as an attorney for the same consulting firm.
Who is an attorney?An attorney is a person or a member of the legal profession. They are licensed and qualified to represent a client in court.
Here, Nellie is providing legal support to his firm's consultant hence his position would be considered as staff.
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If Elin delivers a check payable to her order to First Bank without signing it and receives cash, the transfer is an assignment, not a negotiation. If Elin delivers a check payable to her order to First Bank without signing it and receives cash, the transfer is an assignment, not a negotiation. True False
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It is a true statement that an assignment occurs when Elin delivers a check payable to her order to First Bank without signing it and receives cash.
What is an assignment?This refers to the situation whereby the assignor transfers a rights, property or benefits to another known as the assignee.
Hence, an assignment occurs when Elin delivers a check payable to her order to First Bank without signing it and receives cash.
Therefore, it is a true statement.
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Product Blank______ refers to the entire product category or industry, often illustrated in a product life cycle curve.
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Product Class refers to the entire product category or industry, often illustrated in a product life cycle curve.
What is Product Class?A group of products that are similar to one another or are frequently used as substitutes for one another is known as a product class. Depending on how easily substitutable the various products are, the class is either deemed narrow or broad. Ham and sausage could be examples of a specific product class of breakfast meats. The vast majority of products go beyond merely meeting needs, which is a reality widely acknowledged in the marketing community. In order to go beyond simply meeting customer wants, businesses attempt to incorporate a number of inputs into the "basic need satisfying product."The finished product that is made available to consumers goes well beyond the bare necessities by including cutting-edge features, functions, handy and appealing packaging, and other glitzy extras.Hence, the term "Product Class" designates the entire industry or product category, which is frequently depicted in a product life cycle curve.
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According to a supply and demand model for apples, if the average household income decreases at the same time ten apple orchards go out of business, one would expect the: a. equilibrium quantity of apples in the market to be indeterminate and the equilibrium price of apples to increase. b. equilibrium price of apples to be indeterminate and the equilibrium quantity of apples in the market to increase. c. equilibrium quantity of apples in the market to decrease and the equilibrium price of apples to be indeterminate. d. equilibrium quantity of apples in the market to decrease and the equilibrium price of apples to stay the same. e. equilibrium price of apples to increase and the equilibrium quantity of apples in the market to decrease.
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Option E. Based on the law of supply and demand if orchards go out of business and income decreases, the equilibrium price of apples to increase and the equilibrium quantity of apples in the market to decrease.
What would cause the prices of apple to increase?Due to scarcity, the prices of apple would increase in the market. People would have to pay more to get the product which is now scarce.
When goods are few in the market they become more expensive than they were before.
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Fill in the blank. An effective behavioral marketing and segmentation strategy is built on a foundation of good ________.
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An effective behavioral marketing and segmentation strategy is built on a foundation of good data.
Behavioural marketing is the method by which companies usually target audience on the basis of their behaviour, interests, intentions, and other metrics using web analytics, cookies, search history etc.
Segmentation strategy is the strategy which organizes your customer or business base along demographic, geographic, psychological, behavioural lines or combination of them. It usually break the target audience into smaller, more manageable groups.
The above strategy can be built on foundation of good data for better analysis of target audience.
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The Allowance for Doubtful Accounts T-account will have the ______ on the credit side. Multiple choice question. sales discounts and allowances write-offs of specific customers sales on account estimated bad debts from the adjusting entry
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The Allowance for Doubtful Accounts T-account will have the estimated bad debts from the adjusting entry sales discounts .
Doubtful account
An allowance for doubtful accounts is considered a “contra asset,” because it reduces the amount of an asset, in this case the accounts receivable. The allowance, sometimes called a bad debt reserve, represents management's estimate of the amount of accounts receivable that will not be paid by customers.
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f the steps are small, a step-variable cost may be approximated using a ______ cost function without significant loss in accuracy.
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If the steps are small, a step-variable cost may be approximated using a Variable cost function without significant loss in accuracy.
Variable cost functionAn expense for the company that varies according to how much is produced or sold is called a variable cost. Depending on a company's production or sales volume, variable costs grow or fall. They climb as production rises and reduce as production declines.It is a production cost whose level fluctuates in response to shifts in a business's manufacturing activities. For instance, the raw materials required to make a product's components are regarded as variable costs because they frequently change depending on the volume of units produced.The total variable cost curve depicts the relationship between total variable cost and the volume of output produced graphically.To learn more about the Variable cost function refer to:
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A state feared abuse of its statute providing for welfare benefits, which was administered by its department of public assistance. The department believed that a particular man who had been receiving welfare payments for the past year was not eligible for them because he had adequate means of support. The department informed the man in writing of its decision to terminate his welfare benefits, effective immediately. The department also informed the man that he could schedule an administrative hearing, which would be held in approximately one month, to contest that decision and to present any evidence on his own behalf. If the man challenges this termination on constitutional grounds, will he likely be successful
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For the given case of welfare benefits, if the man challenges this termination on constitutional grounds; Yes, he will likely to be successful because the man had a Due Process "right to notice" and a hearing before his welfare benefits were terminated.
What is right to notice?A criminal suspect has a right to be informed of the accusations levelled against him. The Constitution serves as a foundation for the notice right. The right "to be informed of the nature and basis of the charge shall be enjoyed by the accused".
The meaning of notice in due process-
The procedure by which a person is made aware of a legal proceeding that affects his or her rights, obligations, or duties is known as notice. Adequate notice is defined as notification that is adequate to give the person a chance to respond to the government's proposed action.Therefore, the legal term for the demand that a party be informed of legal proceedings impacting their rights, obligations, or duties is notice.
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For most of her life, Natalie has operated on a pretty tight budget. She was a price-conscious shopper and usually bought store or generic brands to save money. Recently, however, Natalie was given a pretty substantial raise. Since then she has altered her shopping patterns and now regularly buys more expensive, name-brand goods. This is an example of
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This is an example of Income Effect
The income effect means that the change in demand for a good or service which is caused by the change in a consumer's purchasing power resulting from the change in real income.
What is Income Effect ?The income effect in microeconomics is the change in demand for a good or service caused by a change in a consumer's purchasing power resulting from a change in real income.
The income effect can be both direct (when it is directly related to a change in income) or indirect (when consumers must make buying decisions not directly related to their incomes).This means consumers will generally spend more if they experience an increase in income. They may spend less if their income drops.Learn more about Income Effect here:
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Monopolists set prices Group of answer choices At the output where marginal revenue equals marginal cost. None of the Answers are Correct. Without constraints since there is no competition. On the marginal revenue curve. At the minimum of the long-run average total cost curve.
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Monopolists set prices without constraints since there is no competition.
Monopolistic is a type of market in which there is no competitor. It has only a single supplier and the goods are provided by a single company. In this market only a single company control demand and supply of the services. It can also b said that it is a non-competitive market. The absence of competition in the market allows the company to determine the price of the commodity. It takes away the bargaining power from the consumer. The single entity offers a unique product to the market and there is no alternative substitute available to the market. Government can curtail the monopoly of a company by limiting price increases, merger regulation, separating entities, etc.
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Stock R has a beta of 1.3, Stock S has a beta of 0.65, the expected rate of return on an average stock is 10%, and the risk-free rate is 4%. By how much does the required return on the riskier stock exceed that on the less risky stock
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Stock R
AS per CAPM
expected return = risk free
Rate+ beta *(expected return on market - risk free rate )
expected return % =6+1.3*
(13-6)
Expected return % =15.1
Stock S
expected return = risk free
Rate+ beta *(expected return on market - risk free rate )
expected return % = 6+0.65*
(13-6)
expected return %=10.55
Difference =15.1-10.55
Difference =4.55%
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4. _________________ refers to prices rising because there is too much money in circulation and not enough goods and services to spend it on.
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Inflation refers to prices rising because there is too much money in circulation and not enough goods and services to spend on.
Inflation is the charge of the boom in prices over a given time frame. Inflation is generally an extensive degree, which includes the overall boom in expenses or the growth in the value of a dwelling in a rustic.
Inflation is a degree of the rate of growing prices of products and services in a financial system. Inflation can occur while charges rise because of increases in manufacturing expenses, along with uncooked materials and wages. A surge in demand for products and services can purpose inflation as consumers are willing to pay extra for the product.
In an inflationary environment, inconsistently rising prices inevitably reduce the buying electricity of a few purchasers, and this erosion of real income is the unmarried biggest price of inflation. Inflation can also distort buying electricity through the years for recipients and payers of constant hobby charges.
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The Nash equilibrium in an oligopolistic market is generally ________ for society than the outcome under collusion because the price is ________ marginal cost. a. better; closer to b. worse; equal to c. better; further above d. worse; further above
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The Nash equilibrium in an oligopolistic market is generally worse for society than the outcome under collusion because the price is equal to marginal price.
What is Oligopoly?A market structure which has a small number of enterprises and none of which can prevent the others from having a large impact known as an oligopoly.The market share of the major companies is calculated using the concentration ratio.Basically, a market with a monopoly has just one producer, a duopoly has two businesses.An oligopoly has three or more businesses. Although there is no exact maximum limit to the number of businesses in an oligopoly.Mainly, there must be few enough that the decisions of one business have a big impact on the others.What is Nash Equilibrium?The Nash equilibrium is the most popular technique in game theory to describe the outcome of a non-cooperative game involving two or more participants.Each player in a Nash equilibrium is considered to be aware of the equilibrium strategies of the other players, and changing one's own strategy will not benefit anyone.Nash Equilibrium shares its name with the mathematician John Forbes Nash Jr.Know more about Nash Equilibrium https://brainly.com/question/13026299
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Firms that hire (or encourage) well-known names to promote brand messages to their networks of followers are using
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Firms that hire (or encourage) well-known names to promote brand messages to their networks of followers are using Influencer marketing.
What is Influencer marketing?
Influencer marketing is a type of social media promotion that uses product placement and endorsements from figures with a reputedly high level of expertise in their respective fields.
To reach their target market, several brands use influencer marketing. Influencer marketing is used by well-known companies to promote their products for years by utilizing influencer marketing. Through social media, they aim their influencer marketing toward a younger demographic.
An influencer uses their platform to promote a brand's product in exchange for a commission based on sales. The fact that the influencer only receives payment for actual sales creates a slight bias in favor of the brands.
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________________ analyzes how we choose to use our resources on an aggregate (national)level and includes measures of performance such as inflation, unemployment, and federal government expenditures. ________________ analyzes how we choose to use our resources on an aggregate (national)level and includes measures of performance such as inflation, unemployment, and federal government expenditures.
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Macroeconomics is the branch of economics which deals with largescale or general economic factors like interest rates and national productivity. The correct answer is Macroeconomics.
What does Macroeconomics deal with?Macroeconomics examines the functioning, structure, and behavior of the entire economy (like people, households, industries, etc.) in contrast to microeconomics, which focuses primarily on the decisions made by individual economic actors. It analyzes the economy-wide phenomena such as inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment. It also analyzes the causes, stimulation and driving forces of these phenomena and how the national performance can be improved.The two main areas of macroeconomic research are long-term economic growth and shorter-term business cycles.Therefore, the national performance indicators like inflation, unemployment, and federal government expenditures and resource utilization are analyzed are studied under Macroeconomics.
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True or false: Once the initial discounted cash flow analysis has been completed and a project has been budgeted and initiated, managers are no longer concerned about project cash flow forecasts.
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The answer is false.
The discounted cash flow (DCF) method is used to calculate the value of an investment based on its future cash flows.
The DCF is calculated using a discount rate to determine the present value of projected future cash flows.
If the DCF is more than the present cost of the investment, the opportunity may provide positive returns.
The weighted average cost of capital (WACC) is commonly used as the discount rate by businesses since it takes into account the rate of return expected by shareholders.
Managers still get concerned by the projected cash flow forecast since they have to achieve them. Therefore, the statement is false.
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A company's plan for the acquisition of long-lived assets, such as buildings and equipment, is commonly called a:
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A company's plan for the acquisition of long-lived assets, such as buildings and equipment, is commonly called a Capital Budget.
What is a Capital Budget?The procedure a company uses to assess potential big projects or investments is called capital budgeting.Before a project is accepted or denied, capital budgeting is necessary. Examples of such projects include the construction of a new plant or a significant investment in a third-party enterprise.It is a means of locating a superior offer for the expansion of the company. A company's bottom line is frequently affected by significant capital decisions, which are frequently tied to capital planning.In capital budgeting, projects that improve a business are chosen. Almost everything, including the acquisition of land or the purchase of fixed assets like a new truck or machinery, can be included in the capital budgeting process.
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How does income distribution behave during the Installation and Deployment periods of great surges of development
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The income distribution becomes increasingly polarized during the Installation period and improved distribution during the Deployment period.
What is the Installation period?The term "Installation Period" refers to the time frame beginning on the Actual Commercial Operation Date and terminating on the date provided in the Installation Notice to Proceed.It is the time frame covered by this Agreement for initial instruction and technical support for installing and localizing the Software from the Effective Date to the start of the Software's open beta testing.
What is the Deployment period?The phrase "Deployment Period" refers to the time frame starting with the installation of the first Access Point or Relay and lasting until the installation of the final Integrated Meter that is optimized in accordance with the relevant SOW and the completion of all Execution Milestones.Deployment typically refers to a predetermined period of time spent away from the usual duty station, typically abroad.
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A partner can be held liable for a partnership obligation only if he or she participated in, or knew about, whatever it was that gave rise to the obligation. Group of answer choices False True
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The answer is False.
A partnership is a simple method to start and run a business. A group of friends, family, or even coworkers commonly enter the business field as 'partners.'
Legally, a collaboration is an organization of two or more persons known as general partners who function as co-owners of a corporation and administer it for profit.
Although a formal relationship arrangement is not technically required and an oral agreement may be appropriate, it is always good business to put everything on paper (the ownership specifics, including the parties' rights and obligations and their share of profits) to avoid misunderstandings and disputes.
Therefore, the answer is false.
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______, an investor is able to replicate a corporation's capital structure by borrowing funds and using those funds along with her own money to buy the company's stock.
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With homemade leverage, an investor is able to replicate a corporation's capital structure by borrowing funds and using those funds along with her own money to buy the company's stock. This is further explained below.
What is homemade leverage?Generally, When an investment in a firm that does not use leverage is converted into the impact that leverage has on investment by using personal borrowing, this is an example of homemade leverage.
In conclusion, By utilizing borrowed money plus her own finances to acquire shares in a firm, an investor might "do her own leverage," or mimic the capital structure of a publicly traded company.
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According to the VRIO framework, in order for a firm to gain a temporary competitive advantage, a resource must be at least both ______.
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According to the VRIO framework, in order for a firm to gain a temporary competitive advantage, a resource must be at least both Valuable and rare.
Which of the following is a part of the VRIO framework?A four-pronged review of an organization's resources and long-term success indicators is provided by the VRIO Framework. It emphasizes Value, Rarity, Imitability, and Organization as its four key objectives.What does VRIO framework?
The abbreviation VRIO stands for a four-question framework that considers value, rarity, imitability, and organization when assessing an organization's capabilities and resources.What is value in VRIO framework?Value, rarity, imitability, and organization are all letters in the acronym VRIO. Businesses must examine each resource in the internal value chain to determine its worth, rarity, uniqueness, and organization.Learn more about VRIO framework here:
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Why might the process of planning be as important as the plan itself? It involves everyone in the organization. It is necessary to share all plans with shareholders annually. Decision makers face more challenges managing a domestic marketing program than a global one. The process of planning is a standard course business schools. It forces decision makers to examine all factors that affect the success of a marketing program.
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It forces decision-makers to examine all factors that affect the success of a marketing program.
Who are thought of as decision-makers?
People who have the authority to make strategic choices inside a firm, such as investment, expansion, or acquisitions, are known as decision-makers.
The tactic, organizational, policy, operating, personal, programmed, and non-programmed decisions are only a few examples of the various decision-making processes. The most crucial sorts of decision-making in B2B sales are financial and purchasing choices regarding what to buy, at what cost, and from whom. The company's head buyers are frequently those who make such decisions.
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If a monopsonist offers a wage of $6, he finds that 1,200 people are willing to work for him. This means that the:
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If a monopsonist offers a wage of $6, he finds that 1,200 people are willing to work for him. This means that the: a marginal factor cost is $6.
MonopsonistIf a monopsonist offers a wage of $6, he finds that 1.200 people are willing to work for him. This means that the O a. total wage cost is $1,200. b. marginal factor cost is $6. O c. total wage cost is $7.200. o d. $6 wage is too high. o e marginal factor cost is $200.
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Suppose that the government implements a new policy that provides free skills training to all low-skilled workers, which makes them more productive and turns them into high-skilled workers. This will ________ the supply of low-skilled workers and ________ the supply of high-skilled workers.
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This will decrease the supply of low-skilled workers and increase the supply of high-skilled workers.
The economic theory of supply and demand describes how prices are set in a market. In a competitive market, it is hypothesized that, all else being equal, the unit price for a specific good or other traded good, such as labor or liquid financial assets, will fluctuate until it settles at a point where the quantity demanded will equal the quantity supplied, resulting in an economic equilibrium for price and quantity transacted. It is the theoretical cornerstone of contemporary economics.The link between supply and demand is crucial because it helps to establish the costs and availability of the majority of goods and services in a given market. The interplay between supply and demand eventually balances out in accordance with the tenets of a market economy.Thus this is the answer.
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Beginning three months from now, you want to be able to withdraw $3,000 each quarter from your bank account to cover college expenses over the next four years. If the account pays .57 percent interest per quarter, how much do you need to have in your bank account today to meet your expense needs over the next four years
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$5259.29 is needed to have in the bank account in order to meet expense needs over the next 4 years.
What is financial management?Financial management is fundamentally the process of creating a business plan and ensuring that it is followed by all departments. A long-term vision may be created with the help of data that the CFO or VP of finance can supply. The data also helps with investment decisions and provides information on how to finance those investments as well as liquidity, profitability, cash runway, and other factors. These objectives can be accomplished by finance teams using ERP software: Accounting, fixed-asset management, revenue recognition, and payment processing are just a few of the financial tasks that are combined in a financial management system. A financial management system ensures real-time visibility into the company's financial situation while streamlining daily operations, such as period-end close procedures.Present Value of Annuity=
3000*((1-(1/(1+0.57)^16)/.57)= $5259.29
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The open innovation technique that involves generating insights based on ideas from massive numbers of people is called Blank______.
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According to the research, crowdsourcing is the open technique that involves generating insights based on ideas from massive numbers of people.
What is crowdsourcing?It refers to a massive collaboration provided by individuals who are not part of an entity or institution.
It is an open modality of joint work of an indefinite number of people, who contribute their ideas for the development of a certain project.
Therefore, we can conclude that according to the research, crowdsourcing is the open technique that involves generating insights based on ideas from massive numbers of people.
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Shortcutz hair salon offers inexpensive haircuts for $10. They create a marketing campaign extolling the cheap price while showing customers how expensive other salons are in comparison. The campaign encourages consumers shop around and compare prices. Shortcutz focuses solely on price and mentions little about the quality of its haircuts. Which type of psychological pricing communication does shortcutz use?.
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The type of psychological pricing communication does shortcuts used is inviting price comparisons.
The idea behind psychological pricing is that customers will read the slightly lowered price and treat it lower than the price actually is. An example of psychological pricing is an item that is priced at $3.99 but conveyed by the consumer as 3 dollars and not 4 dollars, treating $3.99 as a lower price than $4.00.
A low price allows companies to gain market share by attracting new customers who spread the word about the offering and enticing customers away from competitors. The goal is to rapidly penetrate the market — then eventually raise prices without losing those early adopters.
In 2020, dynamic pricing made headlines when the prices of everyday goods such as toilet paper and hand sanitizer changed dramatically. More common examples are happy hours at your local bar, airline pricing on travel websites, and rideshare surge pricing.
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In a tavern, an intoxicated woman threatened to slash a man with a broken beer bottle. Another customer, who had not been threatened by the woman, forcefully grabbed the woman and locked her in the tavern's storeroom until the police would arrive. In the process, although the customer used reasonable force, the customer badly sprained the woman's wrist. Is the woman likely to recover in an action against the customer
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No, because the customer's conduct was privileged as a defense of others.
What is the customer's conduct?The Customer Service code of conduct serves as a manual for key principles and acceptable conduct for customer service personnel.
The ethical standards that direct choices and behavior at a business or organization are outlined in the code of ethics and professional conduct. They provide both broad guidelines for acceptable behavior on the part of employees and detailed instructions for dealing with problems like harassment, safety, and conflict of interest.
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