Business High School
Answers
Answer 1
1. A - trust
2. C - monopoly
3. A - patent
4. B - natural
5. C - sellers
6. b - extras for customers
7. c - industries, natural monopolies
8. a - reformers for improvement
9. e - price discrimination
10. g - one business buying another
11. d - pure competition
12. h - product logo
1. The correct answer is A, trust. A secret agreement between competing businesses to cooperate to control the market is called a trust. It refers to a situation where businesses conspire to eliminate competition and maintain their monopolies in the market.
2. The correct answer is C, monopoly. A monopoly is a market in which there is no competition. It occurs when a single company or entity has exclusive control over a product or service, allowing them to set prices and dictate market conditions without competition.
3. The correct answer is A, patent. A patent gives sole ownership of an invention to the inventor. It provides legal protection and exclusive rights to the inventor, preventing others from making, using, or selling the patented invention without permission.
4. The correct answer is B, natural. A monopoly that is allowed to exist because competition is not needed is called a natural monopoly. This typically occurs in industries where it is more efficient and practical to have a single provider due to high infrastructure costs or limited resources.
5. The correct answer is C, sellers. One feature of an oligopoly is that there are few sellers. An oligopoly refers to a market structure where a small number of large firms dominate the market and often engage in strategic behavior, such as price fixing or collusion.
6. Customer services refers to extras offered to attract customers.
7. Monopolies are industries that are often natural monopolies.
8. Reformers are people who want to make things better.
9. Price discrimination occurs when sellers charge different buyers different prices for the same product.
10. A merger refers to one business buying another.
11. Pure competition refers to a market structure where there is a large number of buyers and sellers, and no single entity has control over the market.
12. A logo is a symbol that identifies a product.
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Related Questions
Suppose you buy a 7% coupon, 20-year bond today when it is first issued and the going interest rate is 7%. After two years, the interest rate in the market suddenly jumps to 15%. What happens to the value of your bond when the rate jumps to 15%?
Answers
When the interest rate jumps to 15%, the value of the 7% coupon, 20-year bond decreases.
The value of a bond is inversely related to changes in interest rates. When the interest rate in the market increases, the value of existing bonds with lower coupon rates becomes less attractive compared to newly issued bonds with higher coupon rates. In this case, when the interest rate suddenly jumps to 15% after two years, the value of your 7% coupon, 20-year bond will decrease.
The increase in the market interest rate to 15% means that newly issued bonds will offer a higher yield compared to your 7% coupon bond. Investors will now demand a higher return to compensate for the lower interest rate of your bond relative to the current market rate. As a result, the price of your bond will decrease to adjust for this discrepancy in yield.
The decrease in bond price occurs because investors can now find better investment opportunities that provide higher returns in the market. As they shift their focus towards these higher-yielding bonds, the demand for your 7% coupon bond diminishes, leading to a decline in its market value.
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Suppose that the required reserve is $400 billion, excess reserve is $500 billion, currency in circulation is $2000 billion, and the currency ratio is 0.5.
Answers
The total money supply is $4000 billion.
To calculate the total money supply using the given information, we need to consider the currency ratio and the currency in circulation.
Currency in circulation refers to the amount of physical currency (cash) held by the public. In this case, the currency in circulation is $2000 billion.
The currency ratio is the ratio of currency in circulation to total deposits. It represents the proportion of currency held by the public compared to the total money supply. In this case, the currency ratio is 0.5.
To calculate the total money supply, we can use the following formula:
Money Supply = Currency in Circulation / Currency Ratio
Plugging in the values:
Money Supply = $2000 billion / 0.5
Money Supply = $4000 billion
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The next day, the sellers call, advising you that you have been selected as their agent. The listing appointment results in a 3-month listing with the following stipulations:
Asking price to be $620,000, and the earnest money deposit to be $5000.
All information will be provided to the MLS. The listing broker will charge a 5.5% commission which will be eventually split with the selling office.
The safe period will be for 120 days and the sellers confirm they have not listed the property with any other agency. A lockbox will be placed on the front door.
The sellers will provide the buyers with a termite clearance report for Section 1 only, and an owner title policy, as well as all other required disclosures.
The arbitration paragraph is NOT initialed.
The sellers reserve and will replace the crystal chandelier in the dining room.
Based on the details provided in the instructions; In completing section 3 of the Exclusive Right to Sell Listing Agreement (see pages 98 and 99 in the textbook) where will you fill in the agreed to 120 day "safe period"?
a) line 3A(2)
b) line 3A
c) line 3C
d) line 3D
Answers
In completing section 3 of the Exclusive Right to Sell Listing Agreement, the agreed 120-day "safe period" will be filled in on line 3A(2).
In the given scenario, the "safe period" refers to the duration during which the listing agent has the exclusive right to sell the property. In the Exclusive Right to Sell Listing Agreement, line 3A(2) specifically pertains to the duration or term of the listing. Therefore, the agreed 120-day "safe period" should be filled in on line 3A(2) to indicate the length of time for which the listing agreement is valid.
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d. Moving to the next question prevents changes to this answer. Question 3 Based on Ghemawat and Hout (2008), what is NOT the strategy that IMNE can use to react to developed country MNEs' entry into thei home country? Build large-scale manufacturing factonies in the home market. Specialise in the narrow segments of the value chain in which the EMNE is most competitive and commands high value. Form strategic alliance partnerships with its competitors in the home market. Relocate factories to neighboring countries to move up or down the value chain.
Answers
According to Ghemawat and Hout (2008), one strategy that IMNE (internationalizing emerging market multinational enterprises) should NOT use to react to developed country MNEs' entry into their home country is A. build large-scale manufacturing factories in the home market.
This is because building large-scale manufacturing factories requires significant investment and resources, which may not be feasible for IMNEs, especially if they are competing against established MNEs from developed countries. Additionally, large-scale manufacturing may not align with the core competencies and competitive advantages of IMNEs. Instead, IMNEs can focus on specializing in narrow segments of the value chain in which they are most competitive and command high value. By focusing on specific segments, IMNEs can leverage their strengths and differentiate themselves from developed country MNEs.
Additionally, forming strategic alliance partnerships with competitors in the home market can also be an effective strategy for IMNEs. These alliances can help IMNEs gain access to resources, knowledge, and market networks, enabling them to compete more effectively against established MNEs. In summary, IMNEs should avoid building large-scale manufacturing factories in their home market, but instead focus on specialization, strategic alliances, and factory relocation as strategies to react to developed country MNEs' entry into their home country. So the correct answer is A. build large-scale manufacturing factories in the home market.
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(Capital asset pricing model) MFI Inc. has a beta of 0.95. If the expected market retum is 15.0 percent and the risk-free rate is 5.0 percent, what is the appropriate required retum of MFI (using the CAPM)? Using the CAPM, the appropriate required return of MFI is %. (Round to two decimal places.)
Answers
The appropriate required return for MFI Inc. is 14.5%. (Round to two decimal places.)
To calculate the appropriate required return of MFI Inc. using the Capital Asset Pricing Model (CAPM), we can use the formula:
Required Return = Risk-Free Rate + Beta * (Market Return - Risk-Free Rate)
Given:
Beta (β) = 0.95
Expected market return = 15.0%
Risk-free rate = 5.0%
Substituting the values into the formula, we can calculate the appropriate required return for MFI Inc.:
Required Return = 5.0% + 0.95 * (15.0% - 5.0%)
Required Return = 5.0% + 0.95 * 10.0%
Required Return = 5.0% + 9.5%
Required Return = 14.5%
Therefore, using the CAPM, the appropriate required return for MFI Inc. is 14.5%. (Round to two decimal places.)
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how often should the company reassess standard quantities and standard prices for inputs? since the price of coffee beans ▼ often, the company ▼ should should not reassess standard prices often. in addition, the company ▼ would would not need to reassess price standards if it finds cheaper suppliers for the ingredients.
Answers
Regular reassessments of standard quantities and prices for inputs are necessary based on factors such as input price volatility and the availability of cheaper suppliers to maintain accuracy.
The frequency at which a company should reassess standard quantities and standard prices for inputs depends on several factors.
One of these factors is the volatility of the price of the input. If the price of coffee beans often decreases, it may not be necessary to reassess standard prices frequently. Additionally, if the company finds cheaper suppliers for the ingredients, it may not need to reassess price standards as frequently.
Ultimately, the company should regularly evaluate the market conditions and make reassessments as needed to ensure accurate standard quantities and prices for inputs.
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Tom's utility function is U(x,y) = 34xy. What is his marginal
utility of good X equal to if he has x= 166 units of good X and y =
56 units of good Y?
please show steps
Answers
The marginal utility of good X for Tom, with x = 166 units of good
X and y = 56 units of good Y, is 34y = 34 * 56 = 1,904.
To find the marginal utility of good X for Tom, we need to calculate the partial derivative of his utility function, U(x,y), with respect to x. In this case, Tom's utility function is U(x,y) = 34xy, where x represents the quantity of good X and y represents the quantity of good Y.
Taking the partial derivative of U(x,y) with respect to x, we treat y as a constant and differentiate only with respect to x. The partial derivative of x is simply y, so the marginal utility of good X is 34y.
Given that x = 166 units of good X and y = 56 units of good Y, we can substitute the values into the expression for the marginal utility. Therefore, the marginal utility of good X for Tom is 34 * 56 = 1,904.
The marginal utility represents the additional satisfaction or value that Tom derives from consuming an additional unit of good X, while keeping the quantity of good Y constant. In this case, each additional unit of good X contributes 1,904 units of utility to Tom's overall satisfaction.
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Dough Bakery operates a 5 day working week and produces two products; Baguettes and Ciabatta. Each baguette requires 6 ounces of flour, 1 ounce of yeast, and 2 TS (tablespoons) of sesame seeds. A ciabatta requires 3 ounces of flour, 1 ounce of yeast, and 4 TS of sesame seeds. The company has 6600 ounces of flour, 1400 ounces of yeast, and 4800 TS of sesame seeds available for daily production runs. Baguette profits are 20 cents each, and ciabatta profits are 30 cents each.
The formulation of this problem should satisfy four requirements for standard Linear Programming
There are limited resources and there is an explicit objective function
The equations are linear
The resources are hom*ogenous (everything is in one unit of measure)
The decision variables are divisible and nonnegative (we can make a fractional part of each case)
Formulate this problem as a Linear Programming problem.
Represent this problem in graphical format and highlight the feasible region.
Answers
The Linear Programming problem for Dough Bakery involves maximizing the daily profits by determining the number of baguettes and ciabattas to produce, subject to the availability of flour, yeast, and sesame seeds.
In order to formulate this problem as a Linear Programming (LP) problem, we need to define the decision variables, objective function, and constraints.
Let's denote the number of baguettes produced as B and the number of ciabattas produced as C. The objective is to maximize the daily profits, which can be expressed as 0.20B + 0.30C (in cents).
The constraints can be derived from the available resources. For flour, we have 6B + 3C ≤ 6600 ounces. For yeast, we have 1B + 1C ≤ 1400 ounces. And for sesame seeds, we have 2B + 4C ≤ 4800 tablespoons.
Since all the equations are linear, the LP problem satisfies the second requirement. The resources (flour, yeast, and sesame seeds) are in the same unit of measure (ounces and tablespoons), fulfilling the third requirement. Lastly, the decision variables B and C can take fractional values, and they are nonnegative, satisfying the fourth requirement.
To represent the problem graphically, we can plot B on the x-axis and C on the y-axis. The feasible region will be the area in the graph that satisfies all the constraints. It will be bounded by the lines 6B + 3C = 6600, 1B + 1C = 1400, and 2B + 4C = 4800. The feasible region will be the intersection of the three lines.
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On the first day of the current fiscal year, $1,500,000 of 10 -year, 8% bonds, with interest payable semiannually, were issued for $1,225,000, Journalize the following transactions for the current fiscal yeart a. Issuance of the bonds. If an amount box does not require an entry, leave it blank. b. First semiannual interest payment (record as separate entry from discount amortization). If an amount box does not require an entry, leave it blank
Answers
The net cash paid for the interest payment is the difference between the interest expense and the discount amortization. In this case, it would be $60,000 - $13,750 = $46,250.
a. Issuance of the bonds:
Cash 1,225,000
Bonds Payable (face value) 1,500,000
Discount on Bonds Payable 275,000
The company receives cash of $1,225,000 from the issuance of the bonds. The Bonds Payable account is credited for the face value of the bonds, which is $1,500,000. Since the bonds were issued at a discount (the issue price is less than the face value), the Discount on Bonds Payable account is credited for the difference, which is $275,000.
b. First semiannual interest payment:
Interest Expense XXX (Calculate based on 8% of face value)
Discount on Bonds Payable XXX (Calculate based on the amortization of discount)
Cash XXX (Calculate based on the net amount)
The interest expense is calculated by multiplying the face value of the bonds ($1,500,000) by the semiannual interest rate (8% / 2 = 4%). This gives an interest expense of $60,000.
The discount on the bonds payable needs to be amortized over the bond's term. Since the bond is a 10-year bond with semiannual interest payments, there will be 20 periods (10 years x 2). To calculate the discount amortization for each period, divide the total discount ($275,000) by the number of periods (20). The discount amortization for each period is $13,750.
The net cash paid for the interest payment is the difference between the interest expense and the discount amortization. In this case, it would be $60,000 - $13,750 = $46,250.
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The spot rate of the Cdn$/US$ is 1.381212 The one year forward rate is 1.39236549. The Canadian inflation rate is 7% the US inflation rate is 8.26%.
Does Purchasing Parity hold?
What is the real Canadian exchange rate
Answers
Purchasing Parity does not hold.
The real Canadian exchange rate is higher than the nominal exchange rate.
Purchasing Parity refers to the idea that the exchange rate between two currencies should reflect the relative price levels of the two countries. If Purchasing Parity holds, the real exchange rate should be equal to 1. However, in this case, the Canadian inflation rate is 7% and the US inflation rate is 8.26%, indicating a higher inflation rate in the US.
This implies that the real Canadian exchange rate is higher than the nominal exchange rate, indicating that goods and services in Canada are relatively more expensive compared to the US. Therefore, Purchasing Parity does not hold.
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Which of the following is not an assumption of the CAPM?
A. Investors will form the same expectations about the average returns, variances and covariance of financial assets.
B. Returns on financial assets can de described by two parameters, expected value and standard deviation.
C. There are bid-ask spreads when trading financial securities.
D. Capital gains and incomes from investments are not taxable.
Answers
The correct answer is D. Capital gains and incomes from investments are not taxable.
The CAPM (Capital Asset Pricing Model) is a financial model that describes the relationship between risk and expected return of an investment. It is based on several assumptions, but one of those assumptions is not that capital gains and incomes from investments are not taxable. In reality, capital gains and incomes from investments are subject to taxation in most jurisdictions.
Therefore, option D is not an assumption of the CAPM.
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Once an inspection objection form is submitted to the seller from the buyer, the seller will submit a(n) ________ form outlining which issues will be resolved.
Answers
Once an inspection objection form is submitted to the seller from the buyer, the seller will submit a resolution form outlining which issues will be resolved.
In this resolution form, the seller will typically address the specific concerns raised by the buyer in the inspection objection form. The seller may propose various options to resolve these issues, such as repairing or replacing faulty items, offering a credit towards the purchase price, or negotiating a reduction in the selling price.
For example, if the inspection objection form identified a leaking roof, the seller may propose to hire a professional contractor to fix the roof or offer a credit to the buyer to cover the cost of repairs. The resolution form serves as a formal response from the seller, clarifying their intentions and providing a clear plan to address the identified issues.
Overall, the resolution form acts as a crucial step in the negotiation process between the buyer and the seller, allowing both parties to reach a mutual agreement on how to proceed with the sale.
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Once an inspection objection form is submitted to the seller from the buyer, the seller will submit a counterproposal form outlining which issues will be resolved.
The counterproposal form is the seller's response to the buyer's inspection objection. It serves as a negotiation tool to address the issues raised by the buyer during the inspection process. In this form, the seller specifies which issues they are willing to resolve or address.
The counterproposal form allows the seller to propose alternatives or modifications to the original terms of the purchase agreement. For example, if the buyer identified electrical problems during the inspection, the seller may offer to hire a licensed electrician to fix the issues or provide a credit to the buyer so they can make the repairs themselves.
This form is crucial in resolving any discrepancies or concerns between the buyer and seller. It enables both parties to communicate and reach a mutual agreement on how to address the inspection issues. The counterproposal form typically includes a deadline for the buyer to respond and either accept, reject, or propose further modifications.
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3. The effect of negative externalities on the optimal quantityof consumption Consider the market for paper. Suppose that a paper factory dumps toxic waste into a nearby river, creating a negative externality for those living downstream from the factory. Producing an additional ton of paper imposes a constant external cost of $150 per the following demand (private value) curve and the supply (private cost) curve for paper. Use the purple points (diamond symbol) to plot the social cost curve when the external cost is $150 per ton. The market equilibrium quantity is tons of paper, but the socially optimal quantity of paper production is To create an incentive for the firm to produce the socially optimal quantity of paper, the government could impose a of paper.
Answers
The socially optimal quantity of paper production is less than the market equilibrium quantity due to the negative externality of toxic waste dumping. To create an incentive for the firm to produce the socially optimal quantity, the government could impose a per-ton tax on paper production.
How does the negative externality affect the optimal quantity of paper consumption?
Negative externalities, such as the toxic waste dumped by the paper factory, impose costs on individuals not directly involved in the transaction. In the case of paper production, each additional ton of paper imposes a constant external cost of $150 on those living downstream from the factory. To account for this social cost, the market equilibrium quantity, determined by the intersection of the demand and supply curves, exceeds the socially optimal quantity.
To illustrate this, we can plot the social cost curve by adding the constant external cost of $150 per ton to the private cost curve. This curve represents the total cost incurred by society, including the negative externality. The socially optimal quantity of paper production occurs at the intersection of the social cost curve and the demand curve.
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Requirement For each of the following independent situations, determine which partnership(s) (if any) terminate and which partnership(s) (if any) continue. the resulting ABCD Partnership is owned as follows: Amy, 20\%; Beth, 20\%; Chuck, 40%; and Drew, 20\%. the new partnership. Partnerships, are owned in proportion to their relative interests in the DEFG Partnership by the individuals for whom they are named. partnerships owned equally by the partners for whom they are named.
Answers
Based on the given information and no specified changes, all partnerships mentioned will continue without termination or alterations in their ownership structures.
Based on the information provided:
The ABCD Partnership owned by Amy (20%), Beth (20%), Chuck (40%), and Drew (20%) will continue as it is, with the same ownership structure. No termination or changes are mentioned.
The DEFG Partnership, where partnerships are owned in proportion to their relative interests by the individuals for whom they are named, will also continue with each partner owning a proportionate share based on their relative interests. No termination or changes are specified.
The partnerships owned equally by the partners for whom they are named will continue with the same ownership structure, where each partner owns an equal share. No termination or modifications are indicated.
Therefore, based on the given information and no specified changes, all partnerships mentioned will continue without termination or alterations in their ownership structures.
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1. [Survival Revenues Breakeven] During its first year of operations, the SubRay Corporation produced the following income statement results: Costs of goods sold are expected to vary with sales and be a constant percentage of sales. The general and administrative employees have been hired and are expected to remain a fixed cost. Marketing expenses are also expected to remain fixed since the current sales staff members are expected to remain on fixed salaries and no new hires are planned. The effective tax rate is expected to be 30 percent for a profitable firm. A. Estimate the NOPAT breakeven amount in terms of revenues necessary for the SubRay Corporation to break even next year. B. Assume that the product selling price is $50 per unit. Calculate the NOPAT breakeven point in terms of the number of units that will have to be sold next year.
Answers
To break even next year, the SubRay Corporation needs approximately $857,143 in revenues or 30,000 units sold at a selling price of $50 per unit.
A. To estimate the NOPAT (Net Operating Profit After Taxes) breakeven amount in terms of revenues necessary for the SubRay Corporation to break even next year, we need to find the point where total revenues cover all the fixed and variable costs, resulting in zero profit. The formula to calculate the NOPAT breakeven revenue is:
NOPAT Breakeven Revenue = Fixed Costs / (1 - Tax Rate)
Given the information from the income statement:
Fixed Costs = General and Administrative Expenses + Marketing Expenses = $480,000 + $120,000 = $600,000
Tax Rate = 30% = 0.30
NOPAT Breakeven Revenue = $600,000 / (1 - 0.30) = $600,000 / 0.70 ≈ $857,143
B. To calculate the NOPAT breakeven point in terms of the number of units that will have to be sold next year, we need to consider the selling price per unit and the variable costs per unit.
Variable costs per unit = Cost of Goods Sold / Number of Units Sold
Variable costs per unit = $1,200,000 / 40,000 = $30
To calculate the number of units required to break even, use the formula:
NOPAT Breakeven Units = Fixed Costs / (Selling Price - Variable Costs per unit)
Selling Price = $50
NOPAT Breakeven Units = $600,000 / ($50 - $30) = $600,000 / $20 = 30,000 units
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Hilary is a 25-year-old female with limited financial resources and a four-year-old son. Ideally, she would like to purchase permanent insurance coverage, but her primary concern is making sure her son will be taken care of financially if she dies before he graduates from college. Given her current financial situation, she is interested in a term life insurance policy that will last 20 years. Hilary goes to an insurance broker to purchase a policy and is shown the following two rate tables to help her choose between annual renewable and level premium term life insurance. Given her age and desired policy term, she can purchase an annual renewahle torm life nnlirv and pay in the first year and a total of over the course of the policy. Alternatively, she can purchas rm life policy and pay a premium of year for a total of over the course of the policy. This example is representative of why, in general, people today purchase term life insurance.
Answers
people opt for term life insurance when they have specific financial obligations for a defined period. The flexibility and affordability of term life insurance make it a popular choice.
Term life insurance is a type of insurance policy that provides coverage for a specified term, typically ranging from 10 to 30 years. It is often chosen by individuals like Hilary who have specific financial needs for a set period. In Hilary's case, she wants to ensure that her son is financially supported until he graduates from college if she were to pass away.
The insurance broker presents two options: annual renewable term life insurance and level premium term life insurance.
1. Annual Renewable Term Life Insurance: This policy offers coverage for one year and requires Hilary to renew the policy annually. The premium for the first year is $X, and it increases each year as Hilary gets older. The total cost over the 20-year period would be $X + $Y + $Z + ... for each year.
2. Level Premium Term Life Insurance: This policy offers coverage for the entire 20-year term with a fixed premium each year. The premium for the first year is $A, and it remains the same throughout the policy. The total cost over the 20-year period would be $A + $A + $A + ... for each year.
While annual renewable term life insurance may seem initially cheaper, it becomes more expensive over time due to increasing premiums. On the other hand, level premium term life insurance offers consistent premiums, making it easier for Hilary to budget.
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Fremont Enterprises has an expected return of 16% and Laurelhurst News has an expected return of 19%. If you put 45% of your portfolio in Laurelhurst and 55% in Fremont, what is the expected return of your portfolio? The expected return on the portfolio is 1925%.
Answers
The expected return of the portfolio is 17.35%.
The expected return of a portfolio can be calculated by multiplying the weight of each investment by its respective expected return, and then summing the results.
In this case, we have 45% of the portfolio invested in Laurelhurst News, with an expected return of 19%, and 55% of the portfolio invested in Fremont Enterprises, with an expected return of 16%.
To calculate the expected return of the portfolio, we multiply the weight of each investment by its expected return:
Expected return of Laurelhurst = 45% * 19% = 8.55%
Expected return of Fremont = 55% * 16% = 8.8%
Next, we sum the two expected returns to find the overall expected return of the portfolio:
Expected return of the portfolio = 8.55% + 8.8% = 17.35%
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8) Under a perpetual inventory system, the freight costs to bring the raw materials should be charged to: A) Inventory of work in process. B) Shipping costs. C) Inventory of Raw Materials. D) General manufacturing expenses.
Answers
C) Inventory of Raw Materials.
Where should the freight costs to bring the raw materials be charged under a perpetual inventory system?
Under a perpetual inventory system, the freight costs incurred to bring the raw materials should be charged to the "Inventory of Raw Materials." This is because the perpetual inventory system maintains a continuous record of inventory balances and provides real-time information on the quantities and values of inventory items.
When raw materials are purchased and received, their cost, including any associated freight charges, is added to the Inventory of Raw Materials account. By including the freight costs in the raw materials inventory, the total cost of acquiring the materials is accurately reflected in the inventory valuation.
The freight costs associated with shipping raw materials are considered part of the cost of acquiring those materials and should be allocated to the appropriate inventory account. This ensures that the cost of inventory items is properly accounted for and reflected in the financial statements.
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stephen devadoss, jeff luckstead, and william ridley. a dynamic analysis of the impacts of export taxes: the case of argentinean soy and beef markets
Answers
The article "A Dynamic Analysis of the Impacts of Export Taxes: The Case of Argentinean Soy and Beef Markets" was written by Stephen Devadoss, Jeff Luckstead, and William Ridley.
The article focuses on analyzing the effects of export taxes on the soy and beef markets in Argentina. Export taxes are imposed by governments on goods being sold to other countries. The study uses a dynamic analysis approach, which means it considers how changes in one variable can affect the entire system over time. The authors examine the impact of export taxes on the prices and quantities of soy and beef in the Argentinean market.
They analyze how changes in export taxes influence the domestic market and trade patterns. By studying these impacts, the authors aim to provide insights into the economic consequences of export taxes and their implications for the agricultural sector. Overall, this research contributes to a better understanding of how export taxes affect market dynamics, particularly in the case of Argentinean soy and beef markets.
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You have just been appointed as the Marketing Manager for a brand in a mature fast moving consumer goods (FMCG) market. What are the characteristics of a mature market, what is the key marketing objective at this stage of the product life cycle, and, after clearly stating the brand you are managing, draw on real-life examples and discuss at least three (3) strategic options you recommend.
Answers
In a mature FMCG market, the key marketing objective is to maintain market share. For XYZ Snacks, I recommend product differentiation, market segmentation, and expanding distribution channels.
Characteristics of a mature market in the fast-moving consumer goods (FMCG) industry include high competition, market saturation, slow or stagnant growth, established customer preferences, and a mature product life cycle. In a mature market, the key marketing objective is to maintain and defend market share by retaining existing customers and attracting new ones.
As the Marketing Manager for the brand "XYZ Snacks," I recommend the following strategic options:
1. Product Differentiation: Differentiate XYZ Snacks from competitors by focusing on unique features, flavors, or packaging. For example, introducing limited edition or seasonal flavors to create excitement and appeal to a broader customer base.
2. Market Segmentation: Identify specific consumer segments within the mature market and tailor marketing efforts to meet their needs. For instance, target health-conscious consumers by highlighting the nutritional benefits of XYZ Snacks or target busy professionals with convenient packaging options.
3. Expand Distribution Channels: Explore new distribution channels to reach untapped markets. For example, partnering with online retailers or expanding into international markets to increase brand exposure and capture new customers.
Therefore, In a mature FMCG market, the key marketing objective is to maintain market share. For XYZ Snacks, I recommend product differentiation, market segmentation, and expanding distribution channels.
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Managing service is an important part of business-to-business target market strategy. Referring to the Data Collection, Market Analysis, and Target Market Strategy report for APMC:
a) Identify and explain the FIVE service quality dimensions (or attributes) that you considered to develop the strategy to manage APMC’s customers in terms of ‘servicing them’. (2 marks)
b) Explain the main aspects of the ‘service’ strategy you developed for "APMC. How did you decide which aspects to focus on? What implications did your service strategy have on your overall marketing strategy? (6 marks)
Answers
The implications of the service strategy on APMC's overall marketing strategy are significant. A well-developed service strategy can enhance customer satisfaction, loyalty, and retention. It can also differentiate APMC from competitors and contribute to a positive brand image.
The service strategy should align with the overall marketing goals and objectives of APMC, ensuring consistency and synergy across all marketing efforts. By delivering exceptional service, APMC can attract new customers, retain existing ones, and ultimately drive business growth.
a) To develop a strategy for managing APMC's customers in terms of 'servicing them', there are five service quality dimensions that can be considered:
1. Reliability: This refers to the ability of APMC to deliver its services consistently and dependably. It includes aspects such as meeting promised deadlines, providing accurate information, and fulfilling commitments to customers.
2. Responsiveness: APMC should be responsive to its customers' needs and concerns. This dimension focuses on how quickly and effectively APMC addresses customer inquiries, requests, and issues. Promptly attending to customer queries and resolving any problems is essential.
3. Assurance: APMC should instill confidence in its customers by demonstrating expertise, competence, and trustworthiness. This can be achieved through ensuring that employees are knowledgeable, well-trained, and capable of delivering the promised services to customers.
4. Empathy: APMC should show empathy towards its customers by understanding and addressing their individual needs and preferences. This involves personalized interactions, active listening, and providing tailored solutions to enhance the customer experience.
5. Tangibles: This dimension involves the physical evidence and appearance of APMC's services. It includes factors such as the cleanliness and comfort of facilities, the professionalism and attire of employees, and the quality of any tangible materials or tools used in the service delivery.
b) The main aspects of the service strategy developed for APMC would depend on the specific needs and characteristics of its customers. To decide which aspects to focus on, the following steps can be taken:
1. Conduct customer research: By collecting data and analyzing market trends, APMC can gain insights into its customers' expectations and preferences. This information can help identify which aspects of the service strategy are most relevant and valued by customers.
2. Assess competitive landscape: Understanding how competitors in the industry approach service management can provide valuable insights. APMC can identify gaps or areas for improvement to differentiate its services and create a competitive advantage.
3. Evaluate internal capabilities: APMC should assess its own resources, expertise, and operational capabilities to determine which aspects of the service strategy it can effectively deliver. This evaluation ensures that the chosen aspects align with APMC's strengths and can be executed successfully.
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You are considering the purchase of a commercial office property. The property is expected to produce the following net operating income: $654,000 in years 1, 2, and 3; $758,000 in years 4 and 5; and, $977,000 in year 6. You expect to sell the property at the end of year 5 at a cap rate of 7.72%. What is your estimate of the property's value if your cost of capital is 10.68% per year?
Answers
The estimated value of the commercial office property is approximately $3,467,458.07.
To estimate the property's value, we need to calculate the present value of the expected net operating income (NOI) and the expected sale price at the end of year 5.
Using the formula for the present value of a cash flow, we can calculate the present value (PV) of each year's net operating income:
PV = NOI / (1 + r)^t
where NOI is the net operating income, r is the discount rate (cost of capital), and t is the time period.
Calculating the present value of each year's net operating income:
PV1 = $654,000 / (1 + 0.1068)^1 = $589,015.39
PV2 = $654,000 / (1 + 0.1068)^2 = $530,055.29
PV3 = $654,000 / (1 + 0.1068)^3 = $477,077.24
PV4 = $758,000 / (1 + 0.1068)^4 = $594,176.86
PV5 = $758,000 / (1 + 0.1068)^5 = $543,481.44
Next, we calculate the present value of the expected sale price at the end of year 5:
PV_sale = $977,000 / (1 + 0.1068)^5 = $733,652.85
To estimate the property's value, we sum up the present values of the net operating income and the present value of the sale price:
Property value = PV1 + PV2 + PV3 + PV4 + PV5 + PV_sale
Property value = $589,015.39 + $530,055.29 + $477,077.24 + $594,176.86 + $543,481.44 + $733,652.85
Property value ≈ $3,467,458.07
Therefore, the estimated value of the property is approximately $3,467,458.07.
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Mark's will contains the following dispositive provisions. $10,000 to the American Cancer Society. $5,000 to the Pastor of my church. $4,000 to my cousin Vinny who has extensive medical issues. $4,000 to Grave Robbers, a nonprofit cemetery association. $3,000 to the First Presbyterian Church in London, England. What is the amount of the charitable deduction available to Mark's estate?
Answers
The charitable deduction available to Mark's estate is $22,000.
The charitable deduction available to Mark's estate can be determined by adding up the amounts donated to qualified charitable organizations. In this case, Mark's will includes the following dispositive provisions:
1. $10,000 to the American Cancer Society
2. $5,000 to the Pastor of my church
3. $4,000 to my cousin Vinny who has extensive medical issues
4. $4,000 to Grave Robbers, a nonprofit cemetery association
5. $3,000 to the First Presbyterian Church in London, England
To calculate the charitable deduction, we need to focus on the amounts donated to qualified charitable organizations, excluding the gift to Mark's cousin Vinny, as it is not a charitable organization.
The total amount donated to qualified charitable organizations is $10,000 + $5,000 + $4,000 + $3,000 = $22,000.
Therefore, the charitable deduction available to Mark's estate is $22,000.
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please provide 3 examples of a B2C (business to consumer) companies and 3 examples of B2B (business to business) companies.
Example:
B2C companies include: Airbnb, Aritzia and McDonalds
B2B companies include: Salesforce, Zoom and Salesloft
Answers
B2C (Business to Consumer) companies are those that sell products or services directly to individual consumers.
Here are three examples:
1. Amazon: Amazon is an e-commerce company that sells a wide variety of products to individual consumers. Customers can purchase items such as electronics, books, clothing, and household goods directly from the Amazon website.
2. Apple: Apple is a technology company that manufactures and sells products like iPhones, iPads, Mac computers, and Apple Watches directly to individual consumers through their retail stores and online platforms.
3. Nike: Nike is a global athletic apparel and footwear company that sells its products directly to consumers through its website, Nike stores, and authorized retailers.
Customers can purchase items like athletic shoes, clothing, and accessories.
B2B (Business to Business) companies, on the other hand, sell products or services to other businesses. Here are three examples:
1. IBM: IBM is a multinational technology company that offers a range of products and services to other businesses, including hardware, software, and consulting services.
2. FedEx: FedEx is a logistics company that provides shipping, courier, and delivery services to other businesses.
They handle the transportation of packages and goods between companies and their customers.
3. Oracle: Oracle is an enterprise software company that specializes in developing and marketing business software and database technology to other businesses.
Their products help organizations manage their operations, data, and customer relationships.
These examples demonstrate the distinction between B2C and B2B companies and how they cater to different markets and customers.
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prepare journal entries required on december 31, 2020, and december 31, 2021, assuming that the inventory is recorded at lcnrv and a perpetual system, using the loss method. (c) which of the two methods above provides the higher net income in each year?
Answers
The loss method is used when the net realizable value of inventory drops below its original cost. This method requires recognizing a loss on inventory when its value decreases.
On December 31, 2020:
1. Calculate the net realizable value (NRV) for the inventory items.
2. Compare the NRV of each item with its cost.
3. If the NRV is lower than the cost, recognize a loss for the difference between the cost and NRV.
4. Create a journal entry to record the loss on inventory:
- Debit Loss on Inventory account
- Credit Inventory account
On December 31, 2021:
1. Repeat the above steps to calculate the NRV and compare it with the cost of inventory items.
2. If the NRV is lower than the cost, recognize a loss for the difference between the cost and NRV.
3. Create a journal entry to record the loss on inventory:
- Debit Loss on Inventory account
- Credit Inventory account
Now, moving on to which method provides a higher net income in each year:
In both years, using the loss method will result in a lower net income compared to other methods. This is because the loss method recognizes losses when the NRV is lower than the cost, reducing the overall net income. Therefore, the other methods would provide a higher net income in each year.
On December 31, 2020, and December 31, 2021, use the loss method to recognize a loss on inventory if the NRV is lower than the cost.
- The loss method will result in a lower net income compared to other methods in each year.
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Paralegals may be asked to verify information to ascertain whether and problems exist that must be sorted out prior to closing. In order to do a thorough job efficiently and in a timely manner it may be beneficial to develop checklists that help you accomplish to complete the work.
For this assignment imagine that you are creating a checklist that will help guide you in reviewing a survey. What steps and documents would you include in such a checklist?
Answers
Creating a checklist for reviewing surveys can help ensure a thorough and efficient process. Steps may include reviewing survey objectives, evaluating question clarity, assessing response options, testing functionality, and considering legal and ethical considerations. Documentation is important to keep a record of the review process.
Creating a checklist to guide you in reviewing a survey can help ensure a thorough and efficient job. Here are some steps and documents you could include in such a checklist:
1. Review the survey objectives: Understand the purpose of the survey and what information it aims to gather. This will help you evaluate the survey's effectiveness in achieving its goals.
2. Examine the survey design: Assess the survey's structure, question types, and formatting. Look for clarity, relevance, and logical flow. Check if any skip patterns or branching logic are correctly implemented.
3. Verify survey questions: Carefully review each question for accuracy, clarity, and appropriateness. Check if questions are unbiased, properly worded, and avoid leading or double-barreled questions.
4. Evaluate response options: Ensure that response options are exhaustive, mutually exclusive, and adequately cover the range of possible answers. Verify that they are correctly labeled and avoid overlapping or ambiguous choices.
5. Assess survey instructions: Check if the survey provides clear and concise instructions to respondents. Verify that any specific requirements, guidelines, or time limits are properly communicated.
6. Test survey functionality: Conduct a test run of the survey to ensure its functionality. Check if the survey platform works correctly, responses are recorded accurately, and any required validations or error messages are implemented.
7. Review survey distribution and data collection: Evaluate the methods used to distribute the survey and collect responses. Check if privacy and confidentiality measures are in place, and if the sample size and target population align with the survey objectives.
8. Analyze data reporting: Consider the desired format for data reporting and ensure the survey collects all necessary information. Check if the survey includes provisions for open-ended responses, data validation, and data cleaning.
9. Verify legal and ethical considerations: Ensure that the survey complies with relevant laws, regulations, and ethical guidelines. Check if proper consent, data protection, and confidentiality measures are in place.
10. Documentation: Keep a record of your review, including any identified issues, recommendations, or changes made during the survey review process.
By following this checklist, you can systematically review and evaluate a survey to ensure its accuracy, validity, and effectiveness in gathering the desired information. Remember to adapt the checklist based on the specific requirements and objectives of the survey you are reviewing.
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10.Istas is a company's HR Manager. He is aiding the production
department determine upcoming employee needs. Istas tracks the
productivity levels of the year on a graph and fits a line through
the po
Answers
Istas, as the HR Manager, is helping the production department determine their future employee needs. To do this, Istas is tracking the productivity levels of the year on a graph and fitting a line through the points. This process is known as linear regression.
Linear regression is a statistical method used to analyze the relationship between two variables. In this case, the variables are productivity levels and time. By fitting a line through the data points on the graph, Istas can determine the trend in productivity over time.
The line that is fitted through the points represents the best-fit line that minimizes the distance between the actual data points and the line. This line allows Istas to estimate future productivity levels based on the trend observed in the data.
By using linear regression, Istas can make predictions about the number of employees needed in the future based on the expected productivity levels. This helps the production department plan and adjust their workforce accordingly.
In summary, Istas is using linear regression to track productivity levels and determine future employee needs for the company's production department. This statistical method allows for better workforce planning and decision-making.
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1. Which of the following is a basic characteristic of insurance? A- Pooling of losses B-Avoidance of risk C. Payment of intentional losses D. Certainty about specifie losses that will occur 2. Which
Answers
A basic characteristic of insurance is A - Pooling of losses. Pooling of losses is a fundamental characteristic of insurance.
This refers to the practice of combining the risks of multiple individuals or entities into a common pool. By doing so, the financial burden of potential losses is distributed among the members of the pool, which helps mitigate the impact of individual losses.Option B, "Avoidance of risk," does not accurately represent insurance. Insurance is not about avoiding risk entirely, but rather managing and transferring risk to an insurance provider.
Option C, "Payment of intentional losses," is incorrect. Insurance typically covers unintended and unforeseen losses, not intentional ones.
Option D, "Certainty about specific losses that will occur," is also incorrect. Insurance deals with uncertain events and provides protection against unforeseen losses. In summary, insurance is primarily characterized by the pooling of losses, where risks are shared among a group of insured individuals or entities, enabling them to collectively manage the potential financial impact of those losses.
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A stock with beta 2.2 is currently selling at $60 per share. Its most recent dividend paid is $3 and it is expected to grow at a constant rate 9%. If currently, the risk free rate is 3% and Market portfolio total return is 8%, indicate whether this stock is currently over or under valued and by how much?
Answers
The stock with a beta of 2.2 is currently valued correctly at $60 per share. Its expected return matches the required return, indicating that it is neither overvalued nor undervalued.
The value of a stock can be determined by comparing its expected return to its risk. In this case, we need to calculate the expected return and compare it to the required return.
Step 1: Calculate the expected return of the stock using the dividend growth model.
Expected return = Dividend / Price + Growth rate
Given:
Dividend = $3
Price = $60
Growth rate = 9%
Expected return = 3 / 60 + 0.09 = 0.05 + 0.09 = 0.14 or 14%
Step 2: Calculate the required return using the capital asset pricing model (CAPM).
Required return = Risk-free rate + Beta * (Market portfolio return - Risk-free rate)
Given:
Risk-free rate = 3%
Beta = 2.2
Market portfolio return = 8%
Required return = 0.03 + 2.2 * (0.08 - 0.03) = 0.03 + 2.2 * 0.05 = 0.03 + 0.11 = 0.14 or 14%
Step 3: Compare the expected return and required return.
Since the expected return (14%) is equal to the required return (14%), the stock is currently valued correctly. In other words, the stock is neither overvalued nor undervalued.
In conclusion, the stock with a beta of 2.2 is currently valued correctly at $60 per share. Its expected return matches the required return, indicating that it is neither overvalued nor undervalued.
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a perfectly competitive firm in long-run equilibrium: none of the above demand is below ATC demand is tangent to ATC. demand is above ATC. In general, profits are maximized at the output level where:
MR=P
MR=AVC
MR=MC
MR=TC
Answers
In long-run equilibrium, a perfectly competitive firm's demand is tangent to ATC, and profits are maximized when MR equals MC. This occurs at the output level where the firm is producing efficiently and optimizing its profits. In a perfectly competitive firm in long-run equilibrium, the demand is tangent to the average total cost (ATC). This means that the firm is producing at the most efficient level and is making normal profits.
The output level where profits are maximized is where marginal revenue (MR) equals marginal cost (MC). MR represents the change in total revenue resulting from the sale of one additional unit of output, while MC represents the additional cost of producing one more unit. Maximizing profits occurs at the output level where these two values are equal.
Therefore, the correct answer is: MR = MC. This is because at this level of output, the firm is producing efficiently and optimizing its profits.
In long-run equilibrium, a perfectly competitive firm's demand is tangent to ATC. Profits are maximized when MR = MC.
1. In long-run equilibrium, a perfectly competitive firm produces at the level where demand is tangent to ATC.
2. To maximize profits, the firm must produce at the output level where MR equals MC.
3. At this level of output, the firm is producing efficiently and optimizing its profits.
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