The case did influence the moral intensity as it income aimed to improve the quality of life of the people. The company Merck decided to manufacture and distribute the drug for free. The decision was grounded in the company's core values.
Our business is preserving and improving human life, we are committed to the highest standards of ethics and integrity, we are dedicated to the highest level of scientific excellence and commit our research to improving human and animal health and the quality of life.
And we expect profits, but only from work that satisfies customer needs and benefits humanity. The company recognizes that the ability to excel depends on the integrity, knowledge, imagination, skill, diversity, and teamwork of employees, and it values these qualities highly.Analyzing the case using John Rawl's justice as fairness framework, the outcome would be that every individual is entitled to basic rights that they can acquire without the help of others. Those rights must be made available to everyone.
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Categorize the studies as either Revealed Preference or Stated Preference. (Hint: each study belongs to one category)
Revealed Preference and Stated Preference are two primary methods to assess consumer preferences and determine how people allocate their resources. The researchers study the consumers' behaviors in the past, and they derive the preferences of consumers based on the data.
Revealed Preference is a type of method in which economists use the consumer's actual behavior to determine their preferences. In contrast, Stated Preference is a type of method in which economists ask consumers about their preferences.In Revealed Preference, the researchers observe the consumer's behavior and then derive their preferences. On the other hand, Stated Preference requires the consumer to respond to a questionnaire, and the researchers then analyze the results to understand the consumer's preferences.
In conclusion, Revealed Preference is when researchers use a consumer's behavior to determine their preferences, while Stated Preference is when researchers ask the consumers about their preferences to understand their preferences.
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Question 1 of 6 View Policies Current Attempt in Progress On June 1. Sheridan Company Ltd. borrows $162.000 from Acme Bank on a 6-month $162,000, 4% note. The note matures on December 1. (a) Obl -/10 1 (c) Prepare a tabular summary to record the note issued on June 1 Prepare a tabular summary to record adjustment on June 30 Prepare a tabular summary to record the repayment at maturity (December 11, assuming monthly adjustments have been
On June 1, Sheridan Company Ltd. issued a $162,000 note, borrowing the amount from Acme Bank. The company recorded a debit to Cash for $162,000 and a credit to Notes Payable for the same amount. The company recorded a debit to Interest Expense for $540 and a credit to Interest Payable for the same amount.
To record the note issued on June 1, we need to create a tabular summary that includes the following information:
Date | Account | Debit | Credit
-------------|-----------------------|----------|---------
June 1 | Cash | $162,000 |
| Notes Payable | | $162,000
On June 1, Sheridan Company Ltd. borrows $162,000 from Acme Bank. The cash received is debited, representing an increase in the company's cash balance. The Notes Payable account is credited, indicating the company's obligation to repay the loan.
To record the adjustment on June 30, we need to create a tabular summary that includes the following information:
Date | Account | Debit | Credit
-------------|-----------------------|----------|---------
June 30 | Interest Expense | $540 |
| Interest Payable | $540 |
On June 30, we need to accrue interest expense for one month on the note. The Interest Expense account is debited to recognize the expense, and the Interest Payable account is credited to record the accrued interest liability.
To record the repayment at maturity on December 1, assuming monthly adjustments have been made, we need to create a tabular summary that includes the following information:
Date | Account | Debit | Credit
-------------|-----------------------|----------|---------
December 1 | Notes Payable | $162,000 |
| Interest Payable | $540 |
| Interest Expense | $540 |
| Cash | | $162,000
On December 1, the maturity date, Sheridan Company Ltd. repays the note in full. The Notes Payable account is debited for the principal amount, and the Interest Payable and Interest Expense accounts are debited to clear the accrued interest. The Cash account is credited to reflect the outgoing payment.
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If the price of the final product is 20 dollars and the marginal
physical product of labor is 2, what is the wage at the firm?
40 dollars.
5 dollars.
10 dollars.
30 dollars.
The wage at the firm in this case is $40.
To determine the wage at the firm, we need to use the concept of marginal revenue product (MRP) and the assumption that in a competitive market, firms hire labor until the MRP equals the wage.
The marginal physical product of labor (MPPL) refers to the additional output or units of the final product produced by employing one additional unit of labor.
In this case, the MPPL is given as 2, meaning that each additional unit of labor contributes 2 units of output to the final product.
To find the wage, we can calculate the MRP, which represents the additional revenue generated by employing one more unit of labor.
MRP = Price x MPPL
Given that the price of the final product is $20 and the MPPL is 2, we can substitute these values into the equation:
MRP = $20 x 2
MRP = $40
The MRP is $40, which represents the additional revenue generated by employing one more unit of labor.
In a competitive labor market, firms will hire labor until the MRP equals the wage. Therefore, the wage at the firm in this case is $40.
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Can you please help with this assigment?
VACATION POLICY
SCENARIO
Your organization is a floral supply company with employees in the following jurisdictions:
Manitoba
Prince Edward Island
Yukon
The organization is planning to implement a company-wide policy with respect to vacation leave and vacation pay that provides the same benefits to all employees, regardless of their province of employment. As the Payroll Supervisor, provide Cheryl Mark, the Director of Finance, with the following information:
Identify four specific items relating to vacation leave and vacation pay that will have to be addressed in the policy to ensure compliance with the employment/labour standards in each jurisdiction.
Research the details for each of the items you have identified using the course material and the employment/labour standards website for each jurisdiction.
Using the results of your research, provide your recommendations to Ms. Mark on how to address each of these items in the policy to provide the employees with the best benefit, while keeping the cost to the organization at a minimum. Explain your reasoning.
To ensure compliance with employment/labor standards in each jurisdiction, the vacation policy should address vacation entitlement, vacation pay calculation, vacation scheduling, and vacation carryover and payout.
In order to ensure compliance with employment/labor standards in each jurisdiction, the vacation policy should address the following four specific items:
Vacation Entitlement: The policy should clearly define the minimum vacation entitlement for employees in each jurisdiction. This includes the number of vacation days or weeks an employee is entitled to based on their length of service.
For example, in Manitoba, after one year of employment, employees are entitled to a minimum of two weeks' vacation, while in Prince Edward Island and Yukon, the entitlement is three weeks after eight and ten years of service, respectively.
To provide the best benefit to employees while minimizing costs, the policy could establish a standard vacation entitlement of three weeks for all employees, which meets or exceeds the minimum requirements in each jurisdiction.
Vacation Pay Calculation: The policy needs to specify how vacation pay is calculated for employees. Each jurisdiction has specific rules for vacation pay calculation, such as a percentage of earnings or a certain number of hours worked.
For instance, in Manitoba, employees are entitled to vacation pay equivalent to 4% of their total wages earned during the vacation entitlement year.
To streamline the process and minimize administrative complexity, the policy could adopt a standardized calculation method, such as a percentage of total wages, across all jurisdictions, ensuring fairness and consistency for all employees.
Vacation Scheduling: The policy should outline the process for scheduling vacations and address any notice requirements. It's essential to consider any jurisdiction-specific rules regarding vacation scheduling.
For example, in Prince Edward Island, employers must provide vacation at times requested by the employee unless there are valid business reasons.
To balance employee preferences and operational needs, the policy could establish a system where vacation requests are granted on a first-come, first-served basis, with consideration for business requirements.
Vacation Carryover and Payout: The policy should address whether unused vacation days can be carried over to the following year or if they will be paid out. Each jurisdiction may have its own regulations on the carryover or payout of unused vacation.
For instance, in Manitoba, employees can carry over up to one week of unused vacation, while in Prince Edward Island and Yukon, all unused vacation must be paid out.
To minimize costs, the policy could limit carryover to the minimum required by each jurisdiction, ensuring unused vacation does not accumulate excessively and incur additional liabilities for the organization.
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First citizen bank is about to negotiate with the union on behalf of its contracted CSR staff. The CSR's are asking for a 10% increase in salary, but the non-contracted CSR's have been given 5% increase. The union has threatened strike action if the negotiations are not settled. Many of the CSR's have been with the bank for over 5 years and are quite attached to being part of the bank staff.
You are part of the First Citizen Bank Human Resource;
Prepare for the negotiation by creating 4 points with each of the 3 categories of the assignment. explain how each point will be used as part of your negotiation approach.
Prepare 3 feasible BATNA’s and choose the one which is the strongest
What is your target point?
What is your reservation point?
Seek to create a positive ZOPA so that negotiations can take place.
List the key strategies your team will use to gain a win win negotiated outcome.
To negotiate with the union, the following is the prepared Negotiation Approach with four points in each of the three categories of the assignment:
1. Team Preparation: The First Citizen Bank Human Resource Team will prepare a set of skilled negotiators.
2. Define Objectives: The objective will be to reach a negotiated agreement that is satisfactory to both the union and the bank.
3. Determine the Negotiating Range: The bank will set its negotiating range between 2.5% and 5%, while the union's negotiating range will be between 7% and 10%.
4. Select a Negotiating Style: Integrative bargaining will be adopted as the preferred negotiating style.
Feasible BATNA's:
1. Explore other banks that are not unionized.
2. Consider increasing the number of contracted CSR's to reduce the rate of salary increase.
3. Relocate the non-contracted CSR's to other locations where the bank's operations are not at risk.
The strongest BATNA would be to explore other banks that are not unionized.
Target Point:
The bank's target point will be between 2.5% and 5%.
Reservation Point:
The bank's reservation point will be at 2.5%.
Strategies:
1. Set common goals that are acceptable to both parties.
2. Focus on shared interests rather than conflicting interests.
3. Discuss issues rather than positions.
4. Listen carefully to what the other party is saying.
5. Make trade-offs between issues.
6. Try to find integrative solutions that are mutually acceptable to both parties.
7. Establish clear communication with the other party.
8. Avoid making threats and ultimatums.
9. Focus on building a relationship with the other party.
10. Identify and address any underlying concerns that may affect the negotiations.
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Which of the following is not accurate as concerns the retailers and buyers of action-capture cámeras? isk, ople interested in purchasing a wearable action cameras to record videos of their Many people interested in purchasing a wearable action cameras to record videos of their activities do internet research to educate The makers of weak-selling brands of action cameras have difficulty convincing major retail The makers of weak-selling brands of action cameras have difficulty convincing major retail retailers are, however, more amenable to merchandising low-volume brands, especially those with relatively high P/Q ratings or ultralow prices. Retailers typically carry anywhere from 2-4 brands of action-capture cameras and stock only certain models of the brands they do carry, but in all four geographic markets there are around 20 "full-line" action camera retailers that stock most all brands and models. Each of the four major geographic regions of the world market has 5,000 retailers of actioncapture cameras, some of which are multi-store retail chains ( 175 per region), online electronics retailers (125 per region), and local retail enterprises that sell or rent these cameras (4,700 per region). Many price-sensitive consumers shopping for their first actionfsapture camera are inclined to wait to make a purchase until retailers in their area have weekly sales promotions featuring discounted prices.
The statement "Each of the four major geographic regions of the world market has 5,000 retailers of action capture cameras" is not accurate concerning the retailers and buyers of action-capture cameras.
Retailers and buyers of action-capture cameras usually do internet research to educate themselves about the product before purchasing. The makers of weak-selling brands of action cameras have difficulty convincing major retail. Retailers typically carry around 2-4 brands of action-capture cameras and stock only certain models of the brands they do carry.
In all four geographic markets, there are around 20 "full-line" action camera retailers that stock most all brands and models. Retailers are more willing to merchandise low-volume brands, especially those with relatively high P/Q ratings or ultralow prices.
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Below is annual stock return data on Hollenbeck Corp and Luzzi Edit, Inc. What is the average return and standard deviation for each stock? (Round answers to 2 decimal places, e.g. 52.75.) eTextbook and Media Attempts: 0 of 2 used (b) What is the expected portfolio return on a portfolio comprised of i. 25\% Hollenbeck Corp and 75\% Luzzi Edit? ii. 50\% Hollenbeck Corp and 50\% Luzzi Edit? iii. 75\% Hollenbeck Corp and 25\% Luzzi Edit? (Round answers to 3 decimal places, e.g. 5.275.)
The expected return on a portfolio comprised of i. 25% Hollenbeck Corp and 75% Luzzi Edit, ii. 50% Hollenbeck Corp and 50% Luzzi Edit, iii. 75% Hollenbeck Corp and 25% Luzzi Edit.
Annual Return of Hollenbeck Corp: 5.5%, 10.7%
Annual Return of Luzzi Edit Inc: 15.9%, 7.6%
(b) Portfolio is comprised of i. 25% Hollenbeck Corp and 75% Luzzi Edit, ii. 50% Hollenbeck Corp and 50% Luzzi Edit, iii. 75% Hollenbeck Corp and 25% Luzzi Edit.
(b) Calculation of Portfolio Mean and Standard Deviation
Portfolio mean return of each stock= average of the annual stock return
Portfolio mean return of Hollenbeck Corp= (5.5% + 10.7%) / 2 = 8.10%
Portfolio mean return of Luzzi Edit= (15.9% + 7.6%) / 2 = 11.75%
Portfolio standard deviation of each stock
Portfolio standard deviation of Hollenbeck Corp: 6.55%
Portfolio standard deviation of Luzzi Edit: 4.29%
(b) Calculation of Expected Portfolio Returni. 25%
Hollenbeck Corp and 75% Luzzi Edit Portfolio Expected Return
= (25% × 8.10%) + (75% × 11.75%)= 10.54%ii. 50%
Hollenbeck Corp and 50% Luzzi Edit Portfolio Expected Return= (50% × 8.10%) + (50% × 11.75%)= 9.93%
iii. 75% Hollenbeck Corp and 25% Luzzi Edit Portfolio Expected Return= (75% × 8.10%) + (25% × 11.75%)= 8.47%
Hence, we got the expected return on a portfolio comprised of i. 25% Hollenbeck Corp and 75% Luzzi Edit, ii. 50% Hollenbeck Corp and 50% Luzzi Edit, iii. 75% Hollenbeck Corp and 25% Luzzi Edit.
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Which of the following best describes the idea of Corporate Social Responsibility/CSR?
A.)That companies should make charitable investments into society
B.)That companies should hire local labor and pay fair wages
C.)That companies should maximize value for shareholders
D.)That companies should contribute to the societies in which it operates
2.A panel of nine Supreme Court justices hear a case involving the legalization of sports gambling and decide to overturn the law based on the 10th amendment to the Constitution. In doing so, 5 of the 9 justices rule in favor of overturning the law, 3 justices rule against overturning the law, and 1 justice agrees in part and disagrees in part. If Justice Sonia Sotomayor is tasked with writing the opinion of the Court, what type of opinion has the Court made?
Group of answer choices
A.)Plurality Opinion
B.)Per Curiam Opinion
C.)Majority Opinion
D.)Dissenting Opinion
3.Article I of the Constitution delegates powers to the ____________________ branch, whereas Article II of the Constitution delegates powers to the __________________________ branch and Article III of the Constitution delegates powers to the ______________________________ branch.
A.)Executive; Legislative; Judicial
B.)Legislative; Executive; Judicial
C.)Congress; Courts; President
D.)Judicial; Executive; Legislative
4.Anna and Brad are two friends who run a lemonade stand and split all profits and costs 50-50. After years of running a successful business, Brad decides that he can make more money on his own and starts a competing stand next door to Anna's. Anna sues Brad for unfair competition and breach of contract. The first document that Anna would file in court is called a(n) _____________________, and Brad's response is called a(n) ______________________:
A.)Complaint; Answer
B.)Argument; Affirmative Defense
C.)Lawsuit; Appeal
D.)Cause of Action; Pleading
5.)Which of the following is not routinely requested by a Plaintiff during the discovery stage of civil litigation?
Requests for Production of Documents
Motions
Form and Special Interrogatories
Depositions
1. The best description of the idea of Corporate Social Responsibility (CSR) is option D - That companies should contribute to the societies in which it operates.
2. The type of opinion that the Court has made in this scenario is a Majority Opinion (C).
CSR refers to the ethical and responsible actions that companies take to positively impact society, beyond their primary goal of making profits. This can include initiatives such as philanthropy, environmental sustainability, employee well-being, and ethical business practices.
A majority opinion is issued when more than half of the justices on the Supreme Court agree on the outcome and reasoning of a case. In this case, 5 out of the 9 justices ruled in favour of overturning the law, making it a majority opinion.
3. The correct answer is A - Executive; Legislative; Judicial. Article I of the Constitution delegates powers to the Legislative branch, which is responsible for making laws. Article II delegates power to the Executive branch, which includes the President and is responsible for enforcing laws. Article III delegates powers to the Judicial branch, which includes the courts and is responsible for interpreting laws.
4. The first document that Anna would file in court is a Complaint (A), and Brad's response would be called an Answer. A Complaint is the initial legal document filed by the plaintiff (Anna) that outlines the claims against the defendant (Brad). The answer is the defendant's response to the Complaint, addressing each allegation and stating their defence.
5. Motions (B) are not routinely requested by a Plaintiff during the discovery stage of civil litigation. Motions are formal requests made to the court to seek a specific action or ruling. During the discovery stage, Plaintiff typically focuses on obtaining information and evidence through methods such as Requests for Production of Documents, Forms and Special Interrogatories, and Depositions. Motions are typically made at later stages of the litigation process, such as during pre-trial or trial proceedings.
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A contract without the element of consideration is void. Though it is necessary it: A. Must be adequate. B. Needs not be sufficient. C. Needs not be adequate. D. Must be adequate though not sufficient.
A contract without the element of consideration is void. Though it is necessary it must be adequate. Here option A is the correct answer.
Consideration refers to the exchange of things of value between the contracting parties, making a contract legally binding and enforceable. The exchange of things of value can take various forms, including a promise to do something or refrain from doing something, money, goods, or services.
A contract is a legally binding agreement between two or more parties, outlining their obligations and responsibilities to one another. The exchange of consideration is a fundamental element of all contracts. Consideration serves as an incentive for the parties to enter into a contract, as it provides a mutual benefit that each party hopes to obtain.
Consideration is essential in contracts because it serves as evidence of mutual agreement between the parties, which is a necessary element for a contract to be legally binding. Therefore option A is the correct answer.
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You borrow $180,000 with a 30 -year term at a 6% variable rate and the interest rate can be changed every five years. a. What is the initial monthly payment? 41074.19 b. If the lender's interest rate is increased to 8% at the end of the 10th year, what will be the new monthly payments?
The new monthly payments after the interest rate is increased to 8% at the end of the 10th year will be approximately $1,304.12.
How to calculate the the new monthly payments after the interest rate is increased to 8%Given:
Loan amount (P) = $180,000
Term = 30 years
Interest rate for the initial period = 6%
Interest rate after 10 years = 8%
Determine the remaining term after 10 years.
The initial term is 30 years, and after 10 years, there will be 20 years remaining.
Calculating the new monthly payments using the remaining term and the new interest rate.
We'll use the formula for calculating the monthly payment amount on a fixed-rate mortgage:
M = P * (r * (1 + r)^n) / ((1 + r)^n - 1)
Where:
M = Monthly payment
P = Loan amount
r = Monthly interest rate
n = Total number of payments
For the initial monthly payment calculation:
P = $180,000
r = (6% / 100) / 12 (monthly interest rate)
n = 30 years * 12 months = 360 months
Using the formula:
M = 180000 * (r * (1 + r)^n) / ((1 + r)^n - 1)
For the new monthly payment calculation after 10 years:
P = $180,000
r = (8% / 100) / 12 (monthly interest rate)
n = 20 years * 12 months = 240 months
Using the formula:
M = 180000 * (r * (1 + r)^n) / ((1 + r)^n - 1)
Let's calculate the new monthly payments:
a. Initial monthly payment:
M = 180000 * (r * (1 + r)^n) / ((1 + r)^n - 1)
M = 180000 * ((0.005 / (1 - (1 + 0.005)^-360)))
M ≈ $1,074.19
b. New monthly payment after 10 years:
M = 180000 * (r * (1 + r)^n) / ((1 + r)^n - 1)
M = 180000 * ((0.00667 / (1 - (1 + 0.00667)^-240)))
M ≈ $1,304.12
Therefore, the new monthly payments after the interest rate is increased to 8% at the end of the 10th year will be approximately $1,304.12.
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Bramble Company incurred direct materials costs of $745000 during the year. Manufacturing overhead applied was $790000 and was applied based on direct labor costs. The predetermined overhead rate is 50%. What were Bramble Company's total manufacturing costs for the year? $3115000
$2325000
$1930000
$1535000
The total manufacturing costs for the year are $3,115,000.
The total manufacturing costs for Bramble Company can be calculated by adding together the direct materials costs, direct labor costs, and manufacturing overhead applied.
First, we know that the direct materials costs incurred during the year were $745,000.
Next, the manufacturing overhead applied was $790,000, and it was applied based on direct labor costs. Since the predetermined overhead rate is 50%, we can find the direct labor costs by dividing the manufacturing overhead applied by the predetermined overhead rate. Thus, direct labor costs can be calculated as $790,000 / 0.50 = $1,580,000.
Finally, we can calculate the total manufacturing costs by adding the direct materials costs, direct labor costs, and manufacturing overhead applied together. Thus, the total manufacturing costs for the year are $745,000 + $1,580,000 + $790,000 = $3,115,000.
Therefore, the correct answer is $3,115,000.
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3. Why don't you think L Brands (Victoria's Secret) expanded to China or Brazil before the Middle East? 4. What suggestions would you give to \( \mathrm{L} \) Brands to continue their success?
L Brands (Victoria's Secret) didn't expand to China or Brazil before the Middle East due to various factors, such as cultural differences, marketing strategies, and customer preferences. For instance, Victoria's Secret's advertising campaigns and product offerings may not appeal to the Chinese and Brazilian market.
Which may be more conservative in their views on sexuality and body image. Additionally, the competition in China and Brazil's lingerie market may be too fierce for Victoria's Secret to gain a foothold. However, Middle Eastern countries may have a more liberal outlook on lingerie and may be more open to Victoria's Secret's products. Moreover, the Middle East market may have a smaller number of competitors, which may make it easier for Victoria's Secret to establish its brand.
To continue its success, L Brands (Victoria's Secret) can consider expanding its presence in the global market by targeting new markets and diversifying its product offerings. For example, the company can explore the potential of emerging markets like India, Indonesia, and Nigeria, which have a large population and growing middle class. Moreover, Victoria's Secret can expand its product lines to include plus-size and gender-neutral clothing to cater to a wider audience.
Additionally, the company can adopt a more inclusive marketing approach that celebrates diversity and body positivity to appeal to consumers from different cultures and backgrounds. Lastly, Victoria's Secret can invest in e-commerce and social media marketing to reach a wider audience and improve customer engagement.
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The production system design planning considers input requirements, conversion process and output. After considering the forecast and long-term planning organization should undertake capacity planning. Capacity planning is essential to be determining optimum utilization of resource and plays an important role decision-making process, for example, extension of existing operations, modification to product lines, starting new products, etc. With this regard, Examine different types of capacity measurements available for capacity planning. Provide relevant examples for each measurement.
Production system design planning is essential to be carried out to make sure that the input requirements, conversion process, and output are perfectly aligned with each other.
it helps determine the optimal utilization of resources and plays an important role in the decision-making process, for example, extension of existing operations, modification to product lines, starting new products, etc. Below are some of the different types of capacity measurements available for capacity planning. Design capacity: Design capacity is the maximum production capacity an organization can achieve.
Effective capacity: Effective capacity is the actual production capacity an organization can achieve in the long term by considering factors such as equipment breakdowns, planned maintenance, worker shortages, and so on. For example, a mobile phone manufacturing unit that has 1000 workers working eight hours per day can produce 7500 mobile phones per day.
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What is the excess of the amount received from the sale of a good over the cost producing it? A. Consumer surplus B. Producer surplus C. Government surplus D. Deadweight loss
The excess of the amount received from the sale of a good over the cost of producing it is known as Producer Surplus. The Correct option is B
Producer surplus refers to the extra profit made by producers (sellers) when they sell their goods at a higher price than the minimum price that they would be willing to sell for. It is the difference between the price that a producer receives for a good and the minimum price they would have sold it for, based on the costs of production.
Producer surplus can be graphically represented on a supply and demand graph by the area above the supply curve and below the market price. The area represents the extra amount that producers receive in surplus profits from selling at the given market price. The larger the producer surplus, the more motivated sellers are to produce and sell goods in the market.The Correct option is B
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Parent transferred real estate to two children. Children then sold the real estate to Third Person. In determining who must include the gain in gross income, it is irrelevant whether Parent had already began negotiating the sale to Third Person.
Group of answer choices
True
False
It is irrelevant whether Parent had already began negotiating the sale to Third Person in determining who must include the gain in gross income. The statement is true.
Explanation: In general, when a person sells real estate, the amount of gain realized is the difference between the adjusted basis of the property and the amount received from the buyer. If the selling price is higher than the adjusted basis, the seller has realized a gain. This gain is generally subject to tax.
Parent transferred real estate to two children. Children then sold the real estate to Third Person. In determining who must include the gain in gross income, it is irrelevant whether Parent had already began negotiating the sale to Third Person. The above statement is true because this is a situation where the two children will be taxed on the gain when they sell the property to the third person.
The parent’s negotiations with the third person are not material to the children’s tax liability because they have already taken possession of the property from the parent.
Therefore, it is irrelevant whether Parent had already began negotiating the sale to Third Person in determining who must include the gain in gross income.
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Determine the magnitude of the Coriolis force for the following objects: 4) Latitude: 15 N, Velocity 20 m/s 5) Latitude: 20 N, Velocity 12 m/s
the magnitude of the Coriolis force for the objects mentioned in the question is:F = 1.26 x 10-3 N (upwards) at Latitude 15 N and Velocity 20 m/s.F = 8.64 x 10-4 N (upwards) at Latitude 20 N and Velocity 12 m/s.
The Coriolis force deflects moving objects such as air masses, planes, and artillery rounds, making them appear to be deflected to the right in the northern hemisphere and to the left in the southern hemisphere.
When it comes to the determination of the magnitude of the Coriolis force, it is dependent on the object's velocity and latitude. Therefore, the magnitude of the Coriolis force for the following objects:
At Latitude 15 N and Velocity 20 m/s is F = 1.26 x 10-3 N (upwards)
At Latitude 20 N and Velocity 12 m/s is F = 8.64 x 10-4 N (upwards)
Therefore, the magnitude of the Coriolis force for the objects mentioned in the question is:F = 1.26 x 10-3 N (upwards) at Latitude 15 N and
Velocity 20 m/s.F = 8.64 x 10-4 N (upwards) at Latitude 20 N and Velocity 12 m/s.
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HRM
In the topic of talent management, there is an attribute that strongly correlates with leaders’ performance and potential. Design one behavioural interview question that helps the company get employees with this attribute
need about one-two sentence
One behavioral interview question that can help the company get employees with the attribute strongly correlated with leaders’ performance and potential in the topic of talent management .
"Can you tell me about a time when you took the initiative to lead a project or task that was not assigned to you?"This question is designed to assess the candidate's leadership potential, their ability to take charge and make things happen. It also evaluates their proactivity, initiative, and problem-solving skills. A candidate who shares a compelling story about how they took ownership of a project and successfully led it to completion is likely to possess the attribute that correlates with leaders' performance and potential.
An ideal candidate for a role that requires leadership potential should be a self-starter who demonstrates a proactive and results-oriented approach to work. They should also be able to communicate effectively, collaborate with others, and work towards common goals. Additionally, they should have a track record of taking on challenges and driving results, even when faced with obstacles.
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"
What are gender roles and statuses in canada
"
Gender roles and statuses in Canada have changed over time. Traditionally, men were viewed as the primary breadwinners while women were responsible for child-rearing and household duties. This gender division of labor has been challenged by feminist movements in Canada, and progress has been made in terms of gender equality in the workplace and at home.
Today, more women are working in professional fields than ever before. Women in Canada have made significant strides in achieving gender equality in the workplace, in education, and in politics. Women in Canada have also been successful in breaking down gender stereotypes by participating in activities that have traditionally been viewed as male-dominated, such as sports and science-related fields.
Despite this progress, there is still work to be done to achieve full gender equality in Canada. Women continue to be underrepresented in certain fields, such as politics and corporate leadership positions. Women are also more likely to experience poverty and violence than men.
Overall, while significant progress has been made, Canada still faces challenges in achieving full gender equality. It is important to continue working towards gender equality in order to create a more fair and just society for all.
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On 1 January 2020 Company A acquired a 70% controlling interest the ordinary share capital of Company B. Machinery that was purchased for R4 000 000, with a carrying amount of R3 700 000, was considered to be undervalued by R600 000. The machine has a remaining using life of 5 years and carries no residual value. The summer rain in the Limpopo region resulted in multiple flash floods on Company B’s premises. The machine that was undervalued on the date Company A acquired its interest in Company B has been severely affected by these flash floods. Subsequently, there has been a significant reduction in production capacity of this machine and this is due to the constant breakdowns and repairs that have been required since the floods . On 30 September 2020, a mechanical specialist has assessed the condition of the machine and has determined the value in use of this machine as R2 400 000, however this machine has a fair value of R2 000 000 and the cost to sell is negligible. The group accountant is uncertain about the pro-forma journal entry that needs to be processed in response to the mechanical specialist’s assessment. The following journal entry was processes by the group accountant: Dr: Impairment loss (SP&L) 1 255 000 Cr: Accumulated Impairments (SFP) 1 255 000 Accounting for the impairment of the machine REQUIRED: Review the pro-forma entry processed by the Group Accountant as it relates to the impairment of the machine in Company B. Discuss the error made by the group accountant; explain what the correct group accounting treatment should be in respect of the impairment; and propose an appropriate, correcting journal entry
The group accountant has made an error in his pro-forma journal entry regarding the impairment of the machine in Company B.
Determine the carrying amount of the asset on the date of the assessment:In this case, the carrying amount of the asset on 30 September 2020 is R3 700 000 - R600 000 = R3 100 000.2. Since the asset is not going to be sold, the recoverable amount is the higher of the asset's fair value less costs of disposal and its value in use. In this case, the recoverable amount is R2 400 000.
Machinery (SFP) R555 000The reason for this is that the initial carrying amount of the machinery was R3 700 000 and it was reduced by R700 000 due to the impairment loss. Therefore, the new carrying amount of the machinery is R3 000 000, and the amount that has been impaired is R555 000. Therefore, this amount should be credited to accumulated impairments and debited to machinery in the SFP.
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Can you please help me solve these questions ?
1)[Note: The information presented here applies to questions 1, 2 & 3.] Exene financed the purchase of her new house in Maplewood with a 30-year fixed-rate mortgage. If the annual mortgage interest rate is 5.75% and she borrowed $200,000, what is her scheduled monthly payment?
2) If she makes a payment of $1250 a month, what is the balance remaining on her loan after making payments for 10 years?
3) If she makes a payment of $1250 a month until the loan is paid off, how many months will it take for her to pay off the loan?
4) [Note: The information presented here applies to questions 4, 5 & 6.] Iggy is about to purchase a new condominium in Long Island City and needs to borrow $755,000. If the loan is a 15-year, fully amortizing mortgage offering a 4.75% contract rate, what is his scheduled monthly loan payment?
5) What is the remaining balance on Iggy's loan after making payments for 3 years?
6) What is the total amount of interest paid Iggy pays if the loan is paid off at the end of 3 years?
1. Exene's scheduled monthly payment:
Loan amount: $200,000
Annual interest rate: 5.75%
Loan term: 30 years
Monthly interest rate = Annual interest rate / 12 = 5.75% / 12 = 0.00479
Number of monthly payments = Loan term in years * 12 = 30 * 12 = 360
Monthly payment = (Loan amount * Monthly interest rate) / (1 - (1 + Monthly interest rate)^(-Number of monthly payments))
Monthly payment = (200,000 * 0.00479) / (1 - (1 + 0.00479)^(-360))
Monthly payment ≈ $1,167.15
2. Remaining balance after 10 years:
Number of monthly payments made = 10 years * 12 months = 120
Remaining balance = Loan amount * (1 + Monthly interest rate)^Number of monthly payments - (Monthly payment * ((1 + Monthly interest rate)^Number of monthly payments - 1)) / Monthly interest rate
Remaining balance = 200,000 * (1 + 0.00479)^120 - (1,250 * ((1 + 0.00479)^120 - 1)) / 0.00479
Remaining balance ≈ $149,716.76
3. Number of months to pay off the loan:
Loan amount: $200,000
Monthly payment: $1,250
Number of months = -((Log(1 - ((Loan amount * Monthly interest rate) / Monthly payment))) / Log(1 + Monthly interest rate))
Number of months = -((Log(1 - ((200,000 * 0.00479) / 1,250))) / Log(1 + 0.00479))
Number of months ≈ 190 months
4. Iggy's scheduled monthly loan payment:
Loan amount: $755,000
Contract interest rate: 4.75%
Loan term: 15 years
Monthly interest rate = Contract interest rate / 12 = 4.75% / 12 = 0.00396
Number of monthly payments = Loan term in years * 12 = 15 * 12 = 180
Monthly payment = (Loan amount * Monthly interest rate) / (1 - (1 + Monthly interest rate)^(-Number of monthly payments))
Monthly payment = (755,000 * 0.00396) / (1 - (1 + 0.00396)^(-180))
Monthly payment ≈ $5,895.90
5. Remaining balance after 3 years:
Number of monthly payments made = 3 years * 12 months = 36
Remaining balance = Loan amount * (1 + Monthly interest rate)^Number of monthly payments - (Monthly payment * ((1 + Monthly interest rate)^Number of monthly payments - 1)) / Monthly interest rate
Remaining balance = 755,000 * (1 + 0.00396)^36 - (5,895.90 * ((1 + 0.00396)^36 - 1)) / 0.00396
Remaining balance ≈ $627,040.33
6. Total interest paid after 3 years:
Total interest paid = (Monthly payment * Number of monthly payments) - Loan amount
Total interest paid = (5,895.90 * 36) - 755,000
Total interest paid ≈ $66,527.64
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Seaport Corp. had the following transactions during 2024: February 1 Borrowed $27,000 from a bank and signed a note. Principal and interest at 8% will be paid on January 31 . April 1 Paid $6,600 to an insurance company for a two-year fire insurance policy. July 17 Purchased supplies costing $4,300 on account. At the year-end on December 31,2024 , supplies costing $2,000 remained on hand. November 1 A customer borrowed $6,300 and signed a note requiring the customer to pay principal and 6% interest on April 30,2025. Borrowed $27,000 from a bank and signed a note. Principal and interest at 8% will be paid on January 31, 2025. Prepare the necessary adjusting entry on December 31, 2024. Note: Enter debits before credits.
The credit to Supplies reduces the balance in the asset account to reflect the remaining supplies on hand.
The necessary adjusting entry on December 31, 2024, for Seaport Corp. is as follows: Supplies Expense $2,300; Supplies $2,300. To record the adjustment for supplies used during the year. The supplies expense is calculated as the beginning supplies balance ($4,300) minus the ending supplies balance ($2,000). This entry recognizes the expense associated with the supplies consumed during the year. By debiting Supplies Expense, the company reduces the supplies asset and recognizes the corresponding expense.
The credit to Supplies reduces the balance in the asset account to reflect the remaining supplies on hand. Adjusting entries are made at the end of the accounting period to ensure that revenues and expenses are properly matched and reflected in the financial statements. This adjustment ensures that the supplies expense is accurately reported for the year.
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EX 2-8 Journalizing and posting On September 18, 2019, Afton Company purchased $2,475 of supplies on account. In Afton Company's chart of accounts, the supplies account is No. 15, and the accounts payable account is No. 21.
Answer:
The entries ensure accurate financial reporting and maintain the company's records in accordance with proper accounting principles.
To journalize and post the transaction of Afton Company purchasing supplies on account, we follow the steps below:
Journalizing:
On September 18, 2019, Afton Company purchased $2,475 of supplies on account. The journal entry to record this transaction would be as follows:
Date Account Debit Credit
Sep 18, 2019 Supplies (No. 15) $2,475
Accounts Payable (No. 21) $2,475
The debit to the Supplies account increases the balance of the asset account, representing the increase in supplies owned by the company. The credit to the Accounts Payable account represents the liability owed to the supplier.
Posting:
Next, we post the journal entry to the respective ledger accounts. In the general ledger, we locate the Supplies account (No. 15) and the Accounts Payable account (No. 21). We record the corresponding debits and credits from the journal entry in their respective ledger accounts, along with the date and a brief description of the transaction.
Supplies (No. 15) Date Description Debit Credit
Sep 18, 2019 Purchases $2,475
Accounts Payable (No. 21) Date Description Debit Credit
Sep 18, 2019 Supplies $2,475
By journalizing and posting this transaction, Afton Company records the increase in supplies and the corresponding liability for the purchase made on account. These entries ensure accurate financial reporting and maintain the company's records in accordance with proper accounting principles.
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The social welfare function theory comes in to complement or add on to what the Hicks-Kaldor's principle is known to have had a deficiency. Which of the following statements best describes the orincible's shortcomina? [3 Marks] a) Hicks-Kaldor's principle and equal marginal benefit of money for everyone implied does not relate income distribution to production. b) Hicks-Kaldor's principle has no mathematical model c) Hicks-Kaldor's principle is non classical d) Hicks-Kaldor's principle is non empiricist e) None of the above 28)Mathematically the budget constraint tends to put a "cap" over individuals' efforts to maximize their welfare. Which of the following statements best describes the budget constraint? [2 Marks] a) The budget constraint gives the alternative levels of happiness an individual can attain b) The budget constraint gives the optimum level of welfare for an individual. c) The budget constraint defines a linear set of bundles the consumers can afford given their level of disposable income. d) The budget constraint defines an exponential set of bundles the consumers can afford given their level of disposable income e) None of the above. 29)In a simplified two-good model a budget constraint may be expressed as P 1
X 1
+P 2
X 2
=Y where P 1
is price of good X 1
,P 2
is price of good X 2
and Y is the individual's disposable income. Given that the slope of budget constraint or the marginal rate of substitution will be − P2
P1
, If the consumer gives up 1 unit of good X 1
, he/she will p1 more to spend. How many units of good X 2
can he/she acquire with p1 more to spend? a) X 2
units of good X 2
[2 Marks] b) X 1
X 2
units of good X 2
c) X2
X1
units of good X2 d) P2
P1
units of good X 2
e) None of the above 30)The diagram above depicts a welfare maximization scenario given all the possible welfare levels an individual may attain in their consumption of two product - movies and CDs - and their budget constraint. Diagrammatically if the budget constraint of the individual is K120 of disposable income what will be the price of CDs? [2 Marks] a) CDs=K6 b) CDs=K12 c) CDs=K10 d) CDs=K20 e) None of the above 31)Diagrammatically if the budget constraint of the individual is K120 of disposable income what will be the price of Movies? [2 Marks] a) Movies =K12 b) Movies =K10 c) Movies =K6 d) Movies =K12 e) None of the above
The social welfare function theory comes in to complement or add on to what the Hicks-Kaldor's principle is known to have had a deficiency. The Hicks-Kaldor's principle and equal marginal benefit of money for everyone implied does not relate income distribution to production.
Hence, option
a) is the right answer.
Mathematically the budget constraint defines a linear set of bundles the consumers can afford given their level of disposable income.
Thus, option
c) is the right answer.
In a simplified two-good model, the slope of the budget constraint or the marginal rate of substitution will be − P2/P1, i.e.
if the consumer gives up 1 unit of good X1, he/she will p2 more to spend.
The consumer can acquire P2/P1 units of good X2, thus option d) is the right answer.
Diagrammatically if the budget constraint of the individual is K120 of disposable income, the price of CDs would be K12. Hence option b) is the right answer.
Diagrammatically if the budget constraint of the individual is K120 of disposable income, the price of movies would be K6.
Therefore option c) is the right answer.
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Nancy has a gross income of $89,500, disposable income of $70,000 and discretionary income of $17,500, and she saves $21,000 a year. Her savings ratio is A. 23 percent B. 28 percent C. 25 percent D. 30 percent
Her savings ratio is A. 23 percent
The savings ratio can be calculated by dividing the savings by the disposable income and multiplying by 100 to express it as a percentage.
Savings Ratio = (Savings / Disposable Income) * 100
Given that Nancy saves $21,000 a year and has a disposable income of $70,000, we can calculate her savings ratio:
Savings Ratio = ($21,000 / $70,000) * 100
Simplifying the calculation, we get:
Savings Ratio = 0.3 * 100
Savings Ratio = 30 percent
Based on the calculations, Nancy's savings ratio is 30 percent. However, none of the provided answer choices match the calculated savings ratio. Therefore, the correct answer may not be available among the options provided.
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What options does a manager have for completing a job analysis?
Job analysis is an evaluation of jobs with the aim of identifying tasks, duties, and responsibilities that are related to a specific role. The following are the options that a manager can use to complete a job analysis:
Observation
Observation is a technique that is commonly used to complete a job analysis. Managers can observe employees performing their duties in their respective work environments to determine the specific tasks, responsibilities, and duties of their jobs.
Questionnaires
Questionnaires may be used by managers to gather information about jobs from employees. In this case, the manager creates a questionnaire that is tailored to the specific job and issues it to the employees.
Job performance analysis
Job performance analysis is another method of job analysis that is used by managers. This method involves the analysis of job performance to determine the specific tasks, duties, and responsibilities of a job.
Job analysis is an evaluation of jobs with the aim of identifying tasks, duties, and responsibilities that are related to a specific role. The following are the options that a manager can use to complete a job analysis:
Observation
Observation is a technique that is commonly used to complete a job analysis. Managers can observe employees performing their duties in their respective work environments to determine the specific tasks, responsibilities, and duties of their jobs. The observation approach may be used by a manager in various ways including direct observation, video recording, and audio recording.InterviewsInterviews can be used by managers to collect information from the employees. In this case, the manager may interview employees one-on-one or in a group to determine the specific job requirements. An interview enables the manager to ask the employees about their job duties, experiences, responsibilities, and challenges. However, some employees may not give accurate information during interviews, which may limit the effectiveness of this method.
Questionnaires
Questionnaires may be used by managers to gather information about jobs from employees. In this case, the manager creates a questionnaire that is tailored to the specific job and issues it to the employees. The employees complete the questionnaire by answering questions about their job duties, responsibilities, and tasks. This method may enable a manager to collect accurate information about a job and is not as time-consuming as the other methods of job analysis.
Job performance analysis
Job performance analysis is another method of job analysis that is used by managers. This method involves the analysis of job performance to determine the specific tasks, duties, and responsibilities of a job. Managers may use various methods to analyze job performance, including work sampling, critical incident technique, and task inventory. This method is effective because it enables a manager to observe employees performing their tasks and to identify job requirements.
The manager must identify which method to use, depending on the organization's resources, time, and goals. He/she should ensure that the job analysis process is well documented and that all the stakeholders are informed of the results of the analysis. A job analysis should be as accurate as possible, as it affects the recruitment process, employee performance evaluation, and compensation planning and review. Job analysis should be conducted in an objective manner, free from bias, and without discrimination. It is important to remember that the ultimate goal of a job analysis is to ensure that the right person is hired for the right job.
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For a particular good, an 8 percent increase in price causes a 4 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good? there are many close substitutes for this good The good is a luxury The market for the good is broadly defined The relevant time horizon is long.
Based on the given information, the statement that is most likely applicable to this good is: "There are many close substitutes for this good."
When the price of a good increases and the quantity demanded decreases, it suggests that consumers have options to switch to other similar products or substitutes. If there are many close substitutes available, consumers can easily switch to alternatives when the price of the good increases, resulting in a decrease in quantity demanded.
The other statements are less likely based on the given information:
The good being a luxury: The information provided does not indicate whether the good is a luxury or a necessity. The price elasticity of demand (percentage change in quantity demanded relative to the percentage change in price) can vary across different types of goods.
The market for the good being broadly defined: The information does not provide any insights into the market size or the scope of the market for the good.
The relevant time horizon being long: The information does not specify the time horizon over which the price increase and quantity demanded decrease occur. The time horizon is not directly related to the price elasticity of demand.
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Diversification occurs when stocks with low correlations of returns are placed together in a portfolio. Identify at least one type of firm that might exhibit low correlations of returns with the overall stock market? Explain why the correlations of these firms are expected to be low.
One type of firm that might exhibit low correlations of returns with the overall stock market is a utility company.
Utility companies are known for providing essential services such as electricity, gas, and water, which are in high demand regardless of the overall economic conditions. The revenues of utility companies are generally stable and not strongly influenced by the fluctuations in the broader stock market. As a result, the stock prices of utility companies tend to have a low correlation with the overall stock market.
Utilities are typically considered defensive stocks because they are less sensitive to economic downturns. When the economy is performing poorly, investors often seek the relative stability and consistent dividends offered by utility stocks. Conversely, during periods of economic growth, utility stocks may underperform compared to more cyclical sectors.
In summary, utility companies are likely to exhibit low correlations of returns with the overall stock market. Their stable revenues and defensive nature make them attractive to investors seeking diversification and protection during market downturns. By including utility stocks in a portfolio alongside other stocks with low correlations, investors can potentially reduce the overall risk of the portfolio and improve its risk-adjusted returns.
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Match the foliowing lenss with their definiton: Food Environment A. place in sociefy offnn associated with disprities in health status; common ways to Preparod Foods represent this are yeart of oducation, occupation and income Food Daserts B. an area that sulfors from oror-eutieon in the form of energy dense foods that are offered by menall mores and factosd cetaveants Food Swampa C. readyito ent foods that can be eaten outside the hore or browht back to the home to be eateny alto known as foode way trim home (FAFH) Socioeconomic Status E. area that lacks access to adequate affordable fosds, such as truits, vegelables, Whole grairs and reduced-tat dairy, the USOA defniton states that a food desent is low hoome and how-acoess, with limilied supermarnets or thrge grocery stores is close praximity
Food Environment refers to the societal context where disparities in health status exist based on factors like education, occupation, and income. Food Deserts are areas lacking access to affordable, nutritious foods.
Food Environment: A place in the society of an associated disparity in health status; common ways to Prepared Foods represent this is years of education, occupation, and income.
Food Deserts: An area that suffers from overnutrition in the form of energy-dense foods that are offered by mental mores and factors of convenience.Food Swamps: Ready-to-eat foods that can be eaten outside the home or brought back to the home to be eaten; also known as food away from home (FAFH).
Socioeconomic Status: An area that lacks access to adequate affordable foods, such as fruits, vegetables, whole grains, and reduced-fat dairy. The USDA definition states that a food desert is a low-income and low-access area, with limited supermarkets or three grocery stores in close proximity.
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In accordance with the Supreme Court case Kimel v. Florida Board of Regents (2000), a plaintiff in an Age Discrimination in Employment Act (ADEA) action cannot recover money damages against a state entity.
True or False
In accordance with the Supreme Court case Kimel v. Florida Board of Regents (2000), a plaintiff in an Age Discrimination in Employment Act (ADEA) action cannot recover money damages against a state entity.
The statement is true.What was the case about?The case involved two individuals who claimed that the Florida Board of Regents had violated their rights under the Age Discrimination in Employment Act (ADEA) by paying them less than younger employees with similar qualifications.
The court held that the ADEA's money-damage provision was unconstitutional because it abrogated state sovereign immunity. As a result, the plaintiffs in this case were unable to recover monetary damages as a result of their claim.
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When the price of a chess set is $20 per set, 80,000 units are bought and sold. When the price increases to $50 per set, only 30,000 units are bought and sold. 1a) Recall that the regular formula for the percentage change in X is: %ΔX= X 1
X 2
−X 1
+100% where X could be price, quantity, etc. If $20 is P 1
and 80,000 is Q 1
, while $50 is P 2
and 30,000 is Q 2
, what are the percentage changes in price and quantity, using the above formula? [3+3=6 pts. 1b) Based on your answers to 1 a), calculate the price elasticity of demand of chess sets [5 pts.]. Include the simple formula forr the price elasticity of demand in your answer. Does your answer fall in the elastic, unit elastic, or inelastic range? [2 pts.] 1c) Now, redo part 1a) but let $50 be P 1
and 30,000 be Q 1
, while $20 acts as P 2
and 80,000 is Q 2
. What are the percentage changes in price and quantity, using the formula in 1a) ? [3+3=6 pts.] 1d) Based on your answers to 1c), calculate the price elasticity of demand of chess sets [3 pts.]. Does your answer fall in the elastic, unit elastic, or inelastic range? [2 pts.] 1e) You should've gotten two very different answers for 1b) and 1d). This highlights the problems with using the regular formula for percentage change when calculating elasticities (it is widely used, however, for calculating all kinds of things in economics and finance, so don't forget it!). Recall that we modified the simple percentage change formula so that it is more robust to the choice of which values are the starting values, with the modified version: %ΔX= (X 1
+X 2
)/2
X 2
−X 1
∗100% where the denominator has been replaced by an average of the two values of X rather than a single value of X. Using this more robust formula, calculate the percentage changes in price and quantity [3+3=6 pts.]. 1f) Finally, using your answers from 1e), once again calculate the price elasticity of demand of chess sets [3 pts.]. Does your answer fall in the elastic, unit elastic, or inelastic range? [2 pts.] How does your answer compare with your answers from 1b) and 1d)? [2
The answers to all the questions are explained below in detail as per the criteria about price.
1a)The percentage change in price and quantity using the regular formula %ΔX= X2−X1/X1×100%
ΔP = P2 - P1/P1×100% = 50 - 20/20 × 100% = 150%
ΔQ = Q2 - Q1/Q1×100% = 30,000 - 80,000/80,000 × 100% = -62.5%
1b) Price elasticity of demand can be calculated using the following formula:
Price Elasticity of Demand
(Ep) = Percentage change in Quantity Demanded/ Percentage change in Price
Ep= (ΔQ/Q1) / (ΔP/P1)
We know that
,ΔP/P1 = 150%ΔQ/Q1 = -62.5%
Ep = (-62.5/100) / (150/100) = -0.4167
So, the demand is inelastic.
1c)To find: The percentage change in price and quantity using the formula
%ΔX= X2−X1/X1×100%
We have,ΔP = P2 - P1/P1×100% = 20 - 50/50 × 100% = -60%
ΔQ = Q2 - Q1/Q1×100% = 80,000 - 30,000/30,000 × 100% = 166.67%
1d)Price Elasticity of Demand (Ep) = Percentage change in Quantity Demanded/ Percentage change in Price
ΔP/P1 = -60%
ΔQ/Q1 = 166.67%
Ep = (166.67/100) / (-60/100) = -2.778
So, the demand is elastic.
1e)The modified formula is:
%ΔX= (X1+X2)/2 (X2−X1)/[(X1+X2)/2] × 100%
Percentage change in price,
%ΔP = (50 + 20)/2 (20 - 50)/[(50 + 20)/2] × 100% = -57.89%
Percentage change in quantity,
%ΔQ = (30,000 + 80,000)/2 (80,000 - 30,000)/[(30,000 + 80,000)/2] × 100% = 114.29%
1f)Price Elasticity of Demand (Ep) = Percentage change in Quantity Demanded/ Percentage change in Price
ΔP/P1 = -57.89%
ΔQ/Q1 = 114.29%Plugging in the values,
Ep = (114.29/100) / (-57.89/100) = -1.974
So, the demand is elastic. The answers in 1b and 1d are different from the answer in 1f.
The answer in 1b is inelastic and the answer in 1d is elastic, whereas the answer in 1f is also elastic.
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