The contribution margin per pair of jeans is $103.70.
To calculate the contribution margin per pair of jeans, we subtract the variable cost per pair from the selling price per pair.
Contribution Margin per Pair = Selling Price per Pair - Variable Cost per Pair
Contribution Margin per Pair = $305 - $201.30 = $103.70
The contribution margin represents the amount of money available to cover fixed costs and contribute to the company's profit. In this case, for each pair of jeans sold, there is a contribution margin of $103.70.
The contribution margin per pair of jeans is $103.70. This means that for each pair of jeans sold, the company can allocate $103.70 to cover fixed costs and contribute to profit. The contribution margin is a crucial metric in understanding the profitability of a product line and helps the company make informed decisions regarding pricing, cost control, and overall financial performance.
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What feature of the operator manual provides supplemental information such as references basic issue item?
Chapter 5 of the operator manual provides supplemental information such as references basic issue items, and Lubrication Procedures.
Lubrication is a manner that reduces the friction and is put on between shifting solid surfaces with a movie of strong, liquid, or gaseous fabric without inflicting any damage to the surfaces. each friction and abrasion are very complicated processes, which depend upon the bulk and floor properties of the cloth.
The primary purpose of lubrication is to reduce put-on and warmth among contacting surfaces in relative motion. even as wear and heat cannot be completely removed, they can be decreased to negligible or applicable stages.
There are 3 one of a kind sorts of lubrication: boundary, mixed and full movie. every kind is special, however, they all rely upon a lubricant and the additives in the oils to defend in opposition to put on.
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Should citizens participating in
criminal trials should have some requirements such as someone who
has a degree? Or someone who makes at least $20,000 per year? Why
or why not?
Citizens participating in criminal trials should not be required to have a degree or make a certain amount of money per year. This is because such requirements would create inequalities in the justice system and violate the principle of equal protection under the law that is enshrined in the US Constitution.
First, requiring citizens to have a degree in order to participate in criminal trials would discriminate against those who cannot afford higher education. This would create an unfair advantage for those who are more affluent and better-educated, and it would prevent many people from serving on juries or as witnesses.
Secondly, requiring citizens to make a certain amount of money per year would also create inequalities. Poorer citizens would be excluded from participating in criminal trials, which would violate their rights to equal protection under the law. Moreover, wealth is not necessarily a measure of a person's ability to serve as a juror or a witness. A person's income level does not necessarily correlate with their intelligence, education, or integrity
.In conclusion,citizens should not be required to have a degree or make a certain amount of money per year in order to participate in criminal trials. Doing so would violate the principle of equal protection under the law, create inequalities, and prevent many people from participating in the justice system.
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When the right of rescission applies, a borrower can rescind a hard money loan until midnight of the __________ business day after the promissory note is signed.
A. 3rd
B. 5th
C. 7th
D. 10th
When the right of rescission applies, a borrower can rescind a hard money loan until midnight of the 3rd business day after the promissory note is signed. Therefore option A would be the correct answer.
The Truth in Lending Act (TILA), a federal law in the United States, grants borrowers the right to revoke a home equity loan or home equity line of credit (HELOC) with a new lender within three days of closing, as well as the right to rescission a refinance transaction with a lender other than the current mortgagee. The lender must give up its claim to the property and reimburse all fees within 20 days of exercising the right of revocation, which is provided without any conditions.
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products manufactures t-shirts. it has the following costs when its production level is units 75,000(t-shirts):
The total cost of manufacturing t-shirts when the production level is 75,000 units consists of several components, including material costs, labor costs, and overhead expenses.
What are the different cost components involved in manufacturing 75,000 t-shirts?When producing 75,000 t-shirts, the total cost includes several factors such as material costs, labor costs, and overhead expenses. Material costs pertain to the expenses associated with purchasing fabrics, threads, and other necessary raw materials. These materials are essential for the production of the t-shirts and contribute to the overall cost.
Labor costs comprise the wages and salaries paid to the workers involved in the manufacturing process. These costs are necessary to compensate the individuals who perform various tasks such as cutting, sewing, and quality control during the production of the t-shirts. The number of workers and the duration of their employment influence the labor costs incurred.
Overhead expenses encompass additional expenditures that are essential for running the manufacturing facility. These expenses include utilities such as electricity and water, rent for the production space, equipment maintenance costs, and administrative expenses. Utilities are necessary for powering the machinery and providing a conducive working environment. Rent is paid for the facility where the t-shirts are manufactured. Equipment maintenance costs ensure that the machinery remains in good working condition, optimizing production efficiency. Administrative expenses include costs related to management, office supplies, and other support services required for the manufacturing process.
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A pay structure is a system that defines what each individual and job role is paid based upon their value to the business and effectiveness on their part. Adapt the organisation's design pay structures related to jobs and give a significant advantage of pay structure.
When designing pay structures related to jobs, organizations can adopt a variety of approaches to ensure fairness and effectiveness.
One significant advantage of a well-designed pay structure is that it aligns compensation with the value and contribution of each individual and job role within the organization. Here are some key considerations and advantages of pay structure design: Job Evaluation and Grading: Organizations can conduct a thorough job evaluation process to assess the relative worth and complexity of different job roles. This helps establish a systematic approach to job grading, where jobs of similar value are grouped together based on their responsibilities, skills, and required qualifications. A clear job grading system ensures that employees are compensated fairly based on their job's level of contribution to the organization.
Advantage: Job grading enables organizations to establish a clear hierarchy of job roles, facilitating transparent career progression and providing employees with a sense of structure and opportunity for growth. Market-Based Salary Surveys: Conducting market research and salary surveys can provide insights into industry standards and market rates for different job roles. Organizations can use this data to benchmark their pay structures and ensure they remain competitive in attracting and retaining talent. Advantage: Market-based salary surveys help organizations determine competitive compensation levels, ensuring they remain attractive to potential candidates and motivating existing employees by offering salaries that are in line with industry standards. Performance-Based Pay: Linking pay to individual and team performance can be an effective way to motivate employees and reward high achievers. Performance-based pay can take the form of merit-based increases, bonuses, incentives, or profit-sharing schemes. Clear performance metrics and targets should be established to assess individual and team contributions objectively.
Advantage: Performance-based pay encourages a culture of accountability, productivity, and achievement. It provides a direct link between individual effort, results, and financial rewards, motivating employees to perform at their best. Skill-Based Pay: Some organizations adopt a pay structure that recognizes and rewards employees' acquisition of specific skills or competencies. Employees receive higher pay rates as they acquire additional skills or certifications relevant to their job roles.
Advantage: Skill-based pay promotes continuous learning and development among employees. It encourages them to enhance their skill sets, contributing to improved performance, increased versatility, and organizational flexibility. Pay Equity and Transparency: A well-designed pay structure ensures fairness and equity by establishing consistent criteria for compensation decisions. It minimizes pay disparities based on factors such as gender, race, or other protected characteristics. Transparent communication about the pay structure and criteria fosters trust among employees.
Advantage: Pay equity and transparency promote a positive work environment, enhance employee satisfaction, and reduce the risk of discrimination claims. Employees are more likely to perceive the organization as fair and just, leading to increased morale and commitment.
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In what type of economy do individuals and firms determine what will be produced?
Mixed
Traditional
Market
Command
Answer:
market
Explanation:
The Pirates of Penzance Company delivers goods to various areas around the world. The company has a great reputation for being prompt on its deliveries. Blackbeard is the owner of the company. Davy Jones works for Blackbeard as an underpaid sailor. Davy knew that Blackbeard loved to read while they were transporting their deliveries and that his favorite book was The Adventures of Huckleberry Finn. Davy gave Blackbeard a valuable first edition of Twain's work hoping that Blackbeard would give him a raise in pay. A day later, Blackbeard promised to give Davy a pay raise of 18% because he was very pleased with the book. The following week when Davy received his check, he noticed that the raise was missing and he asked Blackbeard for the money. Blackbeard refused to give him his raise and Davy filed suit. Decide the outcome.
The outcome here is that the court would make blackbeard to give the pay raise that he promised to Davy.
The breach of promise.Davy may decide to sue because there has been a breach here. He may decide to sue under the proprietary estoppel.
He already met with what was required of him by providing the book to Blackbeard. It was Blackbeard that was unable tyo meet up with his own part.
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randy, a minor, buys a new four-wheel drive truck from the jones dealership. randy sells this truck to his cousin, steve, who is an adult. steve conveys this vehicle to arthur smith. arthur does not personally know steve or randy. randy may:
When a minor misrepresents his or her age to the other party and the other party enters into a contract with the minor based on that misrepresentation.
When a minor misrepresents his age of majority to the opposite party? 473. When a minor misrepresents his or her age and the other party enters into a contract with the minor as a result, the following may happen:A. As a result of the misrepresentation, the minor is no longer able to withdraw from the agreement.In principle, a minor cannot cancel a contract she entered into after convincing the seller of her age in order to get them to do so.A contract established by a person who is mentally incompetent is often void when no guardian has been designated.Agreements made while intoxicated are typically voidable.In general, agreements signed while intoxicated can be formalized once the intoxicated party regains her faculties.To learn more about minor contract refer
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The products that merchandising companies sell to their customers are called merchandise:_________
The products that merchandising companies sell to their customers are called merchandise inventory.
Selling items, or merchandise, is the function of a merchandising company. Retail clothes, supermarkets, and bookstores are a few examples of merchandising enterprises. While some companies manufacture the products they sell, other companies in the merchandise industry acquire wholesale and resell the products. Or it might be both of the above.
In addition to the typical operational costs that any business faces, a company that creates the products it sells also incurs production costs, such as the cost of new materials and labor used in the manufacturing process.
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Coach Sieb Has a treadmill desk. Walking on the treadmill will break down her triglyceride Levels 90% faster what is the percent that it breaks down while sitting
Answer:
0%
Explanation:
Base on the scenario been described in the question, where we saw coach Seib has 90% faster breaking her triglyceride Levels while working, when sitting, she has a 0% of breaking her triglyceride Levels because no movement, there will be no breakdown in the triglyceride Levels
2. a Which of the following is a list of broad categories of skills? (l point)
O creativity, art and communications, tools and trade, literacy and language, and interpersonal skills
English and literacy, tools and trade, mathematics, and creativity
O interpersonal skills, intrapersonal skills, writing and literacy, tools and trade, and creativity
O mathematics and data, words and literacy, tools and tasks, interpersonal relationships, and creativity
Answer:
B but it depends on what is in B. If English and Literacy is its own category then it is C beginning interpersonal skills
Explanation:
I suppose the most diverse group is the one beginning creativity, art and communications (B), but only if English and Literacy is part of the answer. If it is not then it is the next one down. beginning with interpersonal skills or C.
An IRS auditor randomly selects 3 tax returns (without replacement) from 59 returns of which 11 contain errors. What is the probability that all the returns she selects do not contain errors?
The probability that all the returns the IRS auditor selects do not contain errors is approximately 0.5072 or 50.72%.
To find the probability that all the returns the IRS auditor selects do not contain errors, we will use the concept of combinations.
Step 1: Determine the number of returns with errors and without errors.
There are 11 returns with errors and 59 - 11 = 48 returns without errors.
Step 2: Calculate the total number of ways to choose 3 returns from 59.
This is represented by the combination formula: C(n, k) = n! / (k!(n-k)!)
In this case, n = 59 and k = 3.
C(59, 3) = 59! / (3!(59-3)!) = 34,093
Step 3: Calculate the number of ways to choose 3 returns without errors.
We have 48 returns without errors, and we need to choose 3 of them.
C(48, 3) = 48! / (3!(48-3)!) = 17,296
Step 4: Calculate the probability of selecting 3 returns without errors.
Probability = (Number of ways to choose 3 returns without errors) / (Total number of ways to choose 3 returns)
Probability = 17,296 / 34,093 ≈ 0.5072
So, the probability that all the returns the IRS auditor selects do not contain errors is approximately 0.5072 or 50.72%.
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Which results are more likely for someone without personal finance skills? Select three options.
larger long-term credit or loan costs
less preparation for emergencies
fewer utility expenses
simple long-term investment strategies
increased long-term challenges
Answer:
1,2 & 5
Explanation:
Answer:
1, 2, 5
Explanation:
edge 2021
Higher financial risk tolerance will help you engage in financial behaviors that have ______ long-term payoffs. Group of answer choices lower. greater. equal. None of these answer choices are correct. quizet
It should be noted that Higher financial risk tolerance allow individuals to have better financial behaviors that have Higher long-term payoffs.
This is because when one has a good financial behaviors it will help in long run in the business.
What is financial risk tolerance ?financial risk tolerance can be regarded as maximum degree of uncertainty that can be accepted by someone willingly.
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1. Joe Higgins is thinking about how much time to spend studying for a biology exam tomorrow. Using "utility units" he measures the benefits and costs of study; his calculations are shown in the follo
The optimal amount of time for Joe to spend studying for the biology exam cannot be determined without more information about the specific values assigned to the benefits and costs in his utility units. Joe should consider his own preferences and the importance he places on performing well in the exam to make an informed decision.
Based on the information provided, Joe Higgins is using utility units to measure the benefits and costs of studying for a biology exam. It is important to note that utility units are a subjective measure, and the specific values associated with benefits and costs may vary from person to person.
To make an informed decision about how much time to spend studying, Joe needs to consider the trade-off between the benefits and costs. The calculations he has made can help him evaluate this trade-off. If the benefits outweigh the costs, it would be rational for Joe to allocate more time to studying.
However, without knowing the specific values assigned to the benefits and costs, it is challenging to determine the optimal amount of time for Joe to spend studying. Utility units are a relative measure and cannot be compared across individuals or situations without more context.
Ultimately, Joe should consider his own preferences, past experiences, and the importance he places on performing well in the biology exam. By carefully weighing the benefits and costs based on his own value system, he can determine the appropriate amount of time to dedicate to studying.
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nate buys companies that are small or in financial trouble. he helps these companies turn around and develop a competitive advantage. he recently purchased a company called everyone's way, inc., which sells men's clothing and accessories. everyone's way keeps the sewing machines for clothes manufacturing at a separate production facility so that the store location space can be reserved for display and selling.
Nate is a business investor who specializes in acquiring small companies or those facing financial difficulties. His goal is to help these companies turn around and gain a competitive advantage in the market. Recently, he purchased a company called Everyone's Way, Inc., which sells men's clothing and accessories.
One strategy that Everyone's Way, Inc. employs is keeping the sewing machines for clothes manufacturing at a separate production facility. This allows the store location space to be reserved for display and selling purposes. By separating the production facility from the retail space, the company can optimize its operations and create a more appealing shopping environment for customers.
This approach offers several benefits. Firstly, it helps to streamline the production process by dedicating a specific area solely for manufacturing clothes. This allows for efficient production and minimizes disruptions that could occur in a combined space. Additionally, it enables the company to maintain a clean and organized store environment, enhancing the customer experience.
Separating the production facility from the store location also allows Everyone's Way, Inc. to effectively manage its inventory. By keeping the sewing machines and materials in a dedicated facility, they can ensure that they have sufficient stock to meet customer demand without overcrowding the retail space.
Furthermore, having a separate production facility provides flexibility for the company to scale its operations. If there is a need to expand production capacity, they can easily allocate more resources to the production facility without affecting the retail space. This enables Everyone's Way, Inc. to adapt to changing market conditions and meet growing customer demands.
Overall, Nate's strategy of acquiring small or financially troubled companies and helping them develop a competitive advantage is exemplified by his recent purchase of Everyone's Way, Inc. By keeping the sewing machines for clothes manufacturing at a separate production facility, the company can optimize its operations, maintain a clean and organized store environment, effectively manage inventory, and have flexibility for future growth.
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a new trade agreement between the united states, canada, and mexico replaced nafta in 2018 known as usmca. among its provisions are
The USMCA, or United States, Mexico, and Canada Agreement, is a trade pact between the three nations. The North American Free Trade Agreement was superseded by the USMCA (NAFTA).
What accomplishes the USMCA?The USMCA encourages the use of electronic means for conducting government procurement, boosting openness and efficiency for small and medium-sized firms, and making it easier for American and Mexican SMEs to participate in such procurements.
Trade barriers between the three North American nations had been virtually erased by NAFTA, and the USMCA not only upholds free trade but also updates the laws to reflect developments in the global economy since NAFTA's implementation in 1994.
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A factory is considered what type of resource?
land
labor
physical capital
human capital
A factory falls under the category of physical capital, representing tangible assets and infrastructure utilized in the production process. Option C.
Physical capital refers to the tangible assets that are used in the production process to create goods or services. These assets include machinery, equipment, buildings, vehicles, and infrastructure. They are essential resources that contribute to the production capacity and efficiency of a business or organization.
A factory is a prime example of physical capital as it represents a dedicated space or facility equipped with machinery, tools, and equipment designed for manufacturing or production activities. It provides the necessary infrastructure and resources for transforming raw materials into finished products.
Factories typically house specialized equipment and machinery specific to the industry or production process they serve. This physical capital enables businesses to carry out mass production, streamline operations, and achieve economies of scale.
Physical capital is an important factor of production alongside other resources such as land, labor, and human capital. It plays a crucial role in enhancing productivity, output, and overall economic growth.
Effective management and investment in physical capital can lead to improved efficiency, cost reduction, and technological advancements in production processes.
In summary, a factory is categorized as physical capital, representing the tangible assets and infrastructure used in the production process. So Option C is correct.
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"I can't believe it! We've spent 18 months developing a relationship with that client. Our families have even socialized together. We've become friends. And they use a one-sentence memo to tell us that we were not selected for the big contract! Not a word of thanks, not a clue as to why we were not selected. I'm very disappointed" said Hugh, Vice President of Sales. Hugh was particularly disappointed because:__________.
i. a personal text message would have been the richest medium for communicating this information memos are the least rich medium for communicating this information
ii. a personal note would have been the richest medium for communicating this information
iii. a face-to-face meeting would have been just as rich as an electronic mail message.
iv. a phone call would have been a richer medium for communicating than a face-to-face conversation
Answer:
ii. a personal note would have been the richest medium for communicating this information
Explanation:
ii. a personal note would have been the richest medium for communicating this information
In the given passage, Hugh was particularly disappointed because a personal note would have been the richest medium for communicating this information. Therefore, option B is the correct option.
When does a person face disappointment?
A person faces disappointment when his or her expectations or desires are not accomplished. Disappointment means unhappiness which is caused when some desire or wanted thing is lost or can not be obtained.
In the given passage, since Hugh and his family spent so much time with the client and his family, he expected them that they should at least inform them informally about their being rejected for the contract. The reason behind his disappointment is the expectation and not fulfilling the same as he wanted. Disappointment is the consequence of thoughts and expectations which are different from reality.
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When banks offer borrowers smaller loans than they have requested, banks are said to?
Banks offer Borrower's ability to repay the loan, a lack of collateral to secure the loan, or a shortage of funds available for lending.
How bank offers Borrower's ability?When banks offer borrowers smaller loans than they have requested, it is said to be a loan "rationing" or "credit rationing" situation.
Credit rationing occurs when lenders limit the amount of credit available to borrowers, either by offering lower loan amounts than requested or by setting strict criteria for loan approval that some borrowers cannot meet. This may happen for several reasons, such as the lender's concerns about the borrower's ability to repay the loan, a lack of collateral to secure the loan, or a shortage of funds available for lending.
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A person's continuing inability to pay their bills with their current salary would be considered a(n) _____ stressor.
Based on the information, the inability for the person to pay his or her bills with the salary is known psychosocial stress.
Psychosocial stress simply means the results. It is a cognitive appraisal of what is at stake and what can be done about it.
Psychosocial stress can be seen as the imbalance between demands and the ability to manage them. In this case, Thai can be illustrated as a person's continuing inability to pay their bills with their current salary.
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the music streaming industry where a firm's profitability
In the music streaming industry, dominant players' interactions determine profitability, reflecting an oligopoly where a few firms with market power shape the industry. Therefore, option A is correct.
Oligopoly is an economic term that refers to a market structure characterized by a small number of dominant firms controlling the majority of the market share.
These firms have substantial market power, allowing them to influence prices and impact the industry as a whole. In an oligopolistic market, firms must consider the actions and reactions of their competitors when making strategic decisions.
Interactions between firms, such as pricing strategies, advertising campaigns, and product differentiation, play a crucial role in determining profitability.
Oligopolies often exhibit intense competition and can result in strategic behavior and complex market dynamics.
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Most probably; your complete question is here:
The music streaming industry, where a firm's profitability depends on its interactions with other firms, is an example of
A. oligopoly.
B. monopolistic competition
C. perfect competition
D. monopoly
Which type of data do researchers collect the personal interviews?
Answer:
The correct answer is "Face-to-face interviews".
Explanation:
Face-to-face surveys or interviews are an important way of gathering information used throughout survey methodology. Throughout these interviews, research teams are collecting location information from participants across one cooperation or bonding. This method of collecting information seems to be unique or even just highly personalized.Answer: unstructured or informal in nature
Explanation:
took it on edmentum
what is the decision making process
Answer:
Decision making is the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions. Using a step-by-step decision-making process can help you make more deliberate, thoughtful decisions by organizing relevant information and defining alternatives.
There are actually five steps in the process the five steps are:
There are 5 steps in a consumer decision making process a need or a want is recognized, search process, comparison, product or service selection, and evaluation of decision. Most decision making starts with some sort of problem.
Explanation:
Hope this helps: D
- Lea
Brainliest pleae: P
What are the factors of production in economics?
These are the factors of production in economics:
LandLaborCapitalEntrepreneurshipThe factor of production is resources that are what people or companies use to produce goods and services.
The factor of production in economics:
Land: natural resources used to produce services and goods including everything that comes from the land. Examples: water, oil, natural gas, forest, etc. Labor: efforts that people do to produce services and goods. Capital: tools, buildings, money, and machinery that are used to produce goods and services.Entrepreneurship: a person who can combine and use 3 other factors of production to produce goods and services.Learn more about factors of production at: https://brainly.com/question/20738491
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What is the solution to this equation x+15=28
Answer:
13
Explanation:
Trust me
QI 102: How to improve with the Model for Improvement Personal Opportunity Statement.
a) A workshop on quality improvement techniques
b) A personal development program
c) A training course on business management
d) A book on personal growth
To improve with the Model for Improvement Personal Opportunity Statement, one of the best solutions is A workshop on quality improvement techniques.
It is a structured and collaborative approach to studying, understanding, and improving work processes or products.
Improvement comes by making changes to a process. Improvement can be a small adjustment or a radical overhaul. One of the most effective ways to improve with the Model for Improvement Personal Opportunity Statement is to attend a workshop on quality improvement techniques.
This type of workshop will teach you how to identify opportunities for improvement in the organization, how to choose the best opportunities, how to analyze the causes of the problems, and how to design, implement, and measure changes.It can also teach you how to prioritize your ideas, identify the most important problems, and focus your resources to make the most significant improvements.
In conclusion, A workshop on quality improvement is an excellent way to improve with the Model for Improvement Personal Statement. It can teach you the necessary skills to recognize and diagnose process improvement opportunities, as well as how to design, implement, and measure changes.
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with the aid of industry and individual producer graphs explain how the long run equilibrium in perfect market will be achieved when an economic loss was made in the short run
In a perfectly competitive market, the long-run equilibrium is achieved through the process of entry and exit of firms. When an economic loss is incurred by individual producers in the short run, it signals an imbalance between the market price and the average total cost of production.
When individual producers experience economic losses, some firms will choose to exit the market in the long run. This exit occurs because firms are unable to cover their costs and generate profits. As a result, the supply in the market decreases, shifting the supply curve to the left. The reduction in supply leads to a decrease in the quantity of goods or services available in the market, which in turn puts upward pressure on prices.
As prices rise, the remaining producers who were able to operate at a lower cost may start to earn economic profits. This attracts new firms to enter the market, anticipating the opportunity to make profits. The entry of new firms increases the supply in the market, shifting the supply curve to the right.
The increased supply eventually leads to a decrease in prices, as competition intensifies among producers. This process continues until a long-run equilibrium is reached, where the market price equals the average total cost of production for each firm.
Graphically, this adjustment is represented by the shifting of the supply curve to the left in the short run due to firm exits, followed by a subsequent shift to the right in the long run due to new firm entries. The new long-run equilibrium occurs at the intersection of the demand and supply curves, where price equals average total cost, ensuring that firms earn zero economic profit.
Overall, the long-run equilibrium in a perfect market is achieved through the exit and entry of firms in response to economic losses or profits, respectively, leading to price adjustments and the restoration of equilibrium.
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The market failure that observes when some goods are systemically overused and depleted is _____.
The market failure that observes when some goods are systemically overused and depleted is Tragedy of the Commons.
What is the tragedy of the commons?In the tragedy of the commons, every person has an incentive to use a resource, but at the price of every other person, and there is no means to prevent anyone from using it. It was initially conceived by considering what would occur if each shepherd, acting in his or her own self-interest, permitted their flock to graze on the common field. Everyone acting in what appears to be their own best interest leads to dangerous overconsumption (all the grass is eaten, to the detriment of everyone)Underinvestment (since, who is going to pay to sow new seed?) and finally, resource exhaustion are other possible outcomes of the issue. Every person who consumes an additional unit adversely hurts others—and themselves too—who can no longer profit from the resource due to the resource's overwhelming demand. The resource of interest is typically readily accessible to everyone without restrictions (i.e., the "commons").To learn more about tragedy of the commons, refer to
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1) A small firm employs nine workers. The wages it pays to these workers are $200, $220, $280, $300, $310, 320, $330, $350 and $390 a week. What is the average wage paid?
solution :
sum of dollar =200+220+280+300+310+320+330+
350+390
Now,
average =total sum of all dollar
total sum of worker
=2370
9
=263.333#