A purely competitive market is the type of market that exists where there is a vast number of buyers and sellers. There are four conditions that must be met for a purely competitive market, and they include; homogeneous products, easy market entry and exit, perfect information, and the absence of externalities.
What does it refer to?Homogeneous products refer to goods or services that are identical to each other, where the quality is not different from one another. All sellers must offer the same products at the same price. Easy market entry and exit refer to the ease at which firms enter and exit the market.
In a perfectly competitive market, firms must have the ability to enter and leave the market without any barriers. This condition ensures that all firms in the market are equally placed, with no firm having the monopoly to operate in the market. Perfect information is a situation where buyers and sellers have access to complete knowledge of all the market conditions, prices, and products, and the willingness to exchange them.
In a purely competitive market, all parties involved must have accurate information about prices, quality, quantity, and delivery dates to make informed choices. Lastly, externalities refer to the economic factors beyond the control of the market.
These factors may include government regulations, taxes, or natural disasters, which affect the market's operation. Therefore, a purely competitive market has to function under specific conditions that protect the interest of both buyers and sellers.
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When Randy, a general manager of a national retailer, moved to a different store in his company that was having difficulty, he knew that sales were low and after talking to his employees, he found morale was also low. At first Randy thought attitudes were poor due to low sales, but after working closely with employees, he realized that the poor attitudes were actually the cause of poor sales. Randy was able to discover the cause of the problem by utilizing ______ skills.
Answer:
Conceptual skills
Explanation:
Conceptual skills are inmate skills that enables one to have an understanding of complex problems or situations and also able to proper solutions to them in a creative manner. It is a skill that enables one to think creatively and proffer solutions to problems in a dynamic way.
When difficult situations arises, conceptual skills creates an initiative approach to those scenarios with a view to solving them hence needed by individuals and managers to effectively guide a business.
As in the above scenario, Randy was able to discover that poor attitude was actually the cause of poor sales among the employees due to the conceptual skill he possesed.
Contractor (Plaintiff) submits a bid to Owner’s A/E (Defendant) for 1million dollars G.M.P. for a defined scope of work having to do with excavation. The Owner of the project is a Federal Agency. The contractor is given boring logs by the owner and is given an opportunity to inspect the area to be excavated. During the pre-bid walk the owner talks about the soil boring logs to which the contractor states that they are very familiar with the site conditions in this area, which partially induces the owner to contract with this contractor. After the commencing the excavation work the contractor finds that the soil boring logs are not accurate and as they have discovered before in this area, there is hard granite at random soil strata that a soil boring long might not detect. As a result of the granite being present the project took longer than expected and at costs of 1.1million dollars. In addition to the granite the excavation contractor discovers a UFO cyborg breeding station that no one other than the majestic 12 knew existed. This discovery cost an additional 1million dollars in cost to deal with.
Contractor now sues for the cost of the extra work plus excess profit and overhead markup.
In the given scenario, the Contractor (Plaintiff) submitted a bid to Owner’s A/E (Defendant) for 1million dollars G.M.P. for a defined scope of work having to do with excavation.
The Owner of the project is a Federal Agency. The contractor is given boring logs by the owner and is given an opportunity to inspect the area to be excavated. During the pre-bid walk the owner talks about the soil boring logs to which the contractor states that they are very familiar with the site conditions in this area, which partially induces the owner to contract with this contractor.In such a situation, the Contractor now sues for the cost of the extra work plus excess profit and overhead markup.
The contractor can sue the owner for negligence if the owner is responsible for the inaccurate soil boring logs. Moreover, the contractor can claim for damages based on the Doctrine of Changed Conditions if the granite strata and UFO cyborg breeding station discovered by the contractor was not anticipated and could not have been anticipated by the contractor before the agreement.The Doctrine of Changed Conditions is an equitable doctrine that entitles a contractor to an adjustment of the contract price and time of performance when there has been an unforeseen condition beyond the contemplation of the parties at the time of contracting, which makes the project more expensive or time-consuming. Thus, the contractor can file a lawsuit against the owner for the costs of the extra work plus excess profit and overhead markup.
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1. Use a real-life example to describe the following allocation methods. Hint: Use family, friends, teams, church, and/or clubs for examples.
Brute Force
Market
Queuing
Random Selection
Tradition
Equal Shares
Need
Planned
A real-life example of the concepts are:
Brute force: The use of different numbers, trying to win the lottery.
Market: The buying and selling of ice cream at backyard sales.
Queuing: Standing in line to pay for goods at a mall
What is Queuing?This refers to the standing in line by a group of people in order to access a particular service.
Hence, we can see that the other answers are:
Random selection: Picking one person out of four persons, through the throw of a die.
Tradition: Going to camp every year between father and son.
Equal Shares: The allocation of the same amount of food in a family
Need: The purchase of food in order to continue living.
Planned: A vacation to a foreign place that has been in the making for a long time.
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e. Why do ethics, ethical behavior, and trust play an important role in financial decisions? f. Why is the time value of money important? g. Why are multinational corporations increasing?
e. Ethics, ethical behavior, and trust are important in financial decisions because they establish credibility, foster long-term relationships, and ensure fair and responsible conduct, which ultimately safeguard the integrity and stability of the financial system.
Ethics and ethical behavior promote transparency, honesty, and accountability in financial transactions, instilling confidence in investors and stakeholders. Trust is crucial as it builds strong relationships, facilitates cooperation, and reduces the risk of fraud or unethical practices. Upholding these principles safeguards the reputation of individuals and organizations, contributing to a healthy and sustainable financial environment.
f. The time value of money is important because it recognizes that money has a different worth over time due to factors like inflation and opportunity costs, guiding financial decision-making based on the principles of compounding, discounting, and risk assessment.
The time value of money acknowledges that a dollar received today is worth more than a dollar received in the future. It considers the impact of inflation, which erodes purchasing power, and the opportunity cost of not investing money in alternative ventures. Understanding the time value of money helps individuals and businesses make informed decisions about investments, loans, and financial planning, considering the potential growth, risk, and value of their money over time.
g. Multinational corporations are increasing due to globalization, which has opened up new markets, lowered trade barriers, and enabled companies to access resources, labor, and expertise from different countries, allowing for economies of scale, diversification, and increased profitability.
Globalization has created opportunities for multinational corporations to expand their operations beyond domestic borders. With advancements in technology, transportation, and communication, companies can now tap into international markets, benefit from lower production costs in certain regions, access skilled labor from around the world, and leverage diverse consumer bases. Multinational corporations often pursue globalization to achieve economies of scale, diversify their revenue streams, and maximize profitability in a globalized economy.
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Other things the same, a decrease in the price level makes the dollars people hold worth
Select one:
a. less, so they are willing to spend less.
b. more, so they are willing to spend more.
c. more, so they are willing to spend less.
d. less, so they are willing to spend more.
Your answer: b. more, so they are willing to spend more.In economics, the concept of willingness to pay refers to the maximum amount of money that a consumer is willing to spend on a product or service. The willingness to pay is determined by the perceived value of the product or service to the consumer. When consumers perceive a higher value in a product, they are willing to pay more for it.
For example, luxury goods are often priced higher than their counterparts due to the perception of higher quality and prestige. Consumers who value these aspects of a product will be willing to pay a higher price for it. This is why luxury automakers are able to charge premium prices for their vehicles. Consumers who value the luxury features, performance, and status associated with these brands are willing to pay more for them.
Overall, the willingness to pay is influenced by a variety of factors, including personal preferences, income level, and the perceived value of the product or service. As a result, companies that can create high perceived value for their products are often able to charge higher prices and generate greater profits.
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Sean works at Rowen Corp., an environmentally conscious apparel manufacturing company. He primarily focuses on the tastes and needs of the firm's customers. He achieves this by managing a team that regularly interacts with customers through various promotional activities and events. He also provides insights on how to produce eco-friendly outfits through his specialized knowledge of cost-efficient manufacturing processes. This implies that Sean:_______.a) is an HR professional.
b) encourages centralized decision making.
c) is a knowledge worker.
d) encourages a narrow business focus.
e) belongs to the external labor market.
Answer:
c) is a knowledge worker
Explanation:
A knowledge worker is an individual who is skillful, experienced, educated and whose duty is to apply his or her thinking creativity on the job. According to Peter Drucker, a knowledge worker is someone who is innovative and creative in terms of developing new products and services and one who always find a better way of doing things.
The job of a knowledge work is very complex hence involves expertise on the subject field. A knowledge worker most often develop new ideas and strategies to meeting needs of people rather than focusing on manual and repetitive work. Example of knowledge workers includes but not limited to engineers, scientists, physicians, lawyers etc.
According to the Arrhenius concept, an acid is a substance that __________. causes an increase in the concentration of H in aqueous solutions causes an increase in the concentration of H in aqueous solutions reacts with the solvent to form the cation formed by autoionization of that solvent reacts with the solvent to form the cation formed by autoionization of that solvent tastes bitter tastes bitter can accept a pair of electrons to form a coordinate covalent bond can accept a pair of electrons to form a coordinate covalent bond is capable of donating one or more H
According to the Arrhenius concept, an acid is a substance that reacts with water to increase the concentration of H+ ions in aqueous solutions. The Arrhenius concept of acids and bases was proposed by Svante Arrhenius in the late 19th century.
According to this concept, acids are substances that, when dissolved in water, ionize to produce H+ ions. In other words, they increase the concentration of H+ ions in the aqueous solution.
This is commonly observed in many acidic solutions, such as hydrochloric acid (HCl) or sulfuric acid (H2SO4), where the presence of H+ ions is responsible for their acidic properties. By contrast, bases, according to the Arrhenius concept, are substances that react with water to produce OH- ions. These substances increase the concentration of OH- ions in aqueous solutions. Examples of bases include sodium hydroxide (NaOH) or potassium hydroxide (KOH).
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What can a boosted post help an advertiser achieve?
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
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A traditional, physical bank with online options is a type of online bank.
Please select the best answer from the choices provided
ОТ
OF
Answer:
True
Explanation:
Online banking is banking done via the internet. A customer does not need to be physically present at the bank's buildings. If their banks facilitate transactions through the internet, then it's an online bank.
Many traditional banks have incorporated online banking in their normal operations. However, online-only banks have emerged with no walk-in facilities as with traditional banks.
Great Landscapes Company estimates its doubtful accounts by aging its accounts receivable and applying percentages to various aged categories of accounts. The Great Landscapes Company computes a total of $3,600 in estimated doubtful accounts as of December 31, 2019. Its Accounts Receivable account has a balance of $112,800 and its Allowance for Doubtful Accounts has a credit balance of $600 before adjustment at December 31, 2019. How much bad debts expense will Great Landscapes report in 2019
Answer:
$3,000
Explanation:
Calculation to determine How much bad debts expense will Great Landscapes report in 2019
Using this formula
2019 bad debts expense =Estimated doubtful accounts-Allowance for Doubtful Accounts has a credit balance
Let plug in the formula
Bad debts expense=$3,600-$600
Bad debts expense=$3,000
Therefore The Amount of bad debts expense that Great Landscapes will report in 2019 is $3,000
Creating
public awareness about goods
produced by a company
responsibility of which
department?
A. Mechanical.
B. Marketing.
C. Personnel.
D. Production.
E. Administrative.
Answer:
I think production
hope it helps
1. When a firm has a high degree of operating leverage:
O It is highly susceptible to damage created by forecasting errors.
O It will have a relatively low level of fixed assets.
O Its projected cash flows are known with great certainty.
O It will low fixed costs and high variable costs.
O Its cash flows remain relatively constant regardless of its sales level.
When a firm has a high degree of operating leverage: it is highly susceptible to damage created by forecasting errors.
A high degree of operating leverage means that a significant portion of the firm's costs are fixed costs, such as rent, salaries, or depreciation. This makes the firm's profitability and cash flows highly sensitive to changes in sales or revenue. If there are forecasting errors or unforeseen changes in the market conditions, it can have a magnified impact on the firm's financial performance. Therefore, firms with high operating leverage need to carefully manage their forecasting and risk assessment processes to mitigate the potential damage caused by forecasting errors.
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Imagine you are a training and development specialist.
You are tasked with creating a training workshop about strong meeting facilitation. Create an outline for this workshop.
Include:
Medium: Is your training in-person, webinar, online, or some other method? Objectives: What are your intended outcomes?
Outline: What information topics will you deliver on? What activities will you ask the people in the training to do, individually and in groups? How will the content be organized?
Deliverables: What will you have attendees produce or accomplish by the end of the training to show that they have absorbed the information?
Evaluation: What can you do at the end to measure participants' feelings about the training?
The goal of training session is to provide attendees with knowledge, skills, and understanding that they can apply in their work or personal lives.
What is training?Training is the process of teaching or learning a particular skill, knowledge, or behavior through practice and instruction. In the context of machine learning, training refers to the process of teaching a computer algorithm to recognize patterns and make predictions based on input data. During training, the algorithm is fed a large amount of data, along with the correct outputs, and it adjusts its parameters to minimize the difference between the predicted output and the actual output. This process is repeated over many iterations until the algorithm can accurately make predictions on new, unseen data. Training is a crucial step in developing effective machine learning models and is essential for a wide range of applications, from image recognition and natural language processing to self-driving cars and fraud detection.
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What are two similarities between Mixed economy and Traditional economy?
Help please!
Answer:
where the production and distribution of goods is based on custom and cultural traditionsExplanation: because
Caterer agrees with Bride to cater Bride's wedding reception for $12 per plate. On the wedding day, Caterer calls Bride saying that some things have come up, and she will have to charge $16 a plate in order to do the catering. Bride agrees. Which is true
floor covering inc. maintains inventory records using a perpetual costing system and a fifo cost flow assumption. data for june 2018, is as follows: june 1 balance 90 units at $10 june 10 purchase 110 units at $12 june 15 sale 120 units at $20 june 17 purchase 130 units at $13 june 27 sale 100 units at $20 the journal entry for the sale on june 27 will include a:
The journal entry for the sale on June 27 will include a debit to Cost of Goods Sold for $1,520 and a credit to Inventory for $1,300.
Floor Covering Inc. uses a perpetual costing system and a first-in, first-out (FIFO) cost flow assumption. This means that the cost of the first units purchased are the first to be assigned to goods sold.
On June 27, 100 units were sold at a price of $20 each, resulting in total revenue of $2,000. The cost of goods sold is calculated by multiplying the number of units sold (100) by the cost of the oldest units in inventory (the 90 units purchased on June 1 at $10 per unit and the 10 units purchased on June 10 at $12 per unit).
This gives a cost of goods sold of $1,300.
The journal entry to record the sale on June 27 will include a debit to Cost of Goods Sold for $1,520 (the calculated cost of goods sold plus the cost of the 20 units remaining in inventory) and a credit to Inventory for $1,300 (the cost of the units sold).
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Your health insurance plan has a $20 copay for certain covered prescription medications.
You arrive at the pharmacist and pick up your prescription (which is covered under your
plan) which has a list price of $75. How much would you pay the pharmacy?
The amount that you would pay the pharmacy, given your copay and the covered prescription medication, is $20.
What is an insurance copayment ?A copayment for health insurance is a defined dollar amount that is determined by the insurance plan and used to divide the cost of covered treatments between the plan and the consumer. Each plan's cost-sharing system, which details how much you'll actually pay for services, medications, doctor visits, and other expenses, is a key selling factor.
Copays are normally paid at the time of service and are a set dollar amount rather than a portion of the bill. Not all medical procedures require a payment. For instance, some insurance providers don't demand a copay for yearly physicals.
The amount you are to pay the pharmacy therefore, given the insurance plan copay, is $ 20.
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Bina Co. purchased a vehicle on January 1st for $15,000 and estimates it will use the vehicle for eight years with a $3,000 salvage value. Using the double
declining-balance depreciation method, compute the vehicle's second year depreciation expense.
O $3,750.00
O $3,000.00
O $2,812.50
O $2,250.00
Using the double declining-balance depreciation method, the vehicle's second year depreciation expense is: $2,812.50.
Second year depreciation expense
First step is to calculate the first year depreciation expense
First year depreciation expense=15,000×(100%/8 x 2)
First year depreciation expense=15,000 x 25%
First year depreciation expense=3,750
Second step is to calculate Second year depreciation expense
Second year depreciation expense = (15,000-3750) x 25%
Second year depreciation expense=11,250x 25%
Second year depreciation expense =2812.50
Therefore Using the double declining-balance depreciation method, the vehicle's second year depreciation expense is: $2,812.50.
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You are told that if you invest $11,000 per year for 23 years( all payments made at the end of each year) you will have accumulated $366,000 at the end of the period What annual rate of return is the investment offering.
Answer:
3.2%
Explanation:
this is an ordinary annuity:
future value of an ordinary annuity = annual payment x future value annuity factor
$366,000 = $11,000 x future value annuity factor
future value annuity factor = $366,000 / $11,000 = 33.2727
you can solve this in two ways:
the first is with a lot of math work in order to solve the following equation
33.2727 = [(1 + i)²³ - 1] / i
or
you can use an annuity calculator (available online) which will yield 3.2%
i. Explain how the combination of regional comparative advantage and scale economies in transportation combine to produce trading firms and market cities.
ii. Cities attempt to attract firms by offering them subsidies. Explain 4 types of inducements.
iii. According to the empirical studies, what effect do state and local taxes and public services have on location choices?
Regional specialization, transportation scale economies, and inducements such as subsidies attract trading firms and market cities, while lower taxes and quality public services influence location choices.
How to determine regional comparative advantage?i. Regional specialization in producing goods or services efficiently, along with transportation scale economies, leads to the rise of trading firms and market cities by enabling cost advantages and efficient distribution to larger customer bases.
ii. Subsidies, such as tax incentives, infrastructure development, grants or loans, and regulatory assistance, are among the inducements offered by cities to attract firms, facilitating business operations and reducing costs.
iii. Research shows that state and local taxes, as well as public services, impact location choices. Lower tax rates and favorable tax policies attract businesses, while well-developed public services like transportation and education systems enhance a region's appeal to firms.
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An accountant passed the closing entries of the expenses and then closed all the expense accounts by crediting them. Which account should she debit to complete the dual aspect of the journal entry?
A.
income account
B.
income summary account
C.
revenue account
D.
purchase account
E.
equity account
Answer: Income Account
Explanation:
Also referred and Income Statement.
Answer:
Income summary account
Explanation:
In the Blank Question To compute net income for a merchandiser, you will start with net sales, subtract cost of goods sold and subtract other Confidence Level Rate your confidence to submit your answer. High Medium Low Concept Resources Read 2020 Mc Education All Reserved Privacy | Terms of Use Type here to search
Starting with net sales, you will deduct the cost of products sold and other costs to arrive at net income for a merchandiser.
What are expenses?An expense requires the transfer of money or wealth in general from one person or organization to another in order to pay for a good, service, or another kind of cost.
Rent is a cost to a tenant.
Tuition is a cost shared by parents and students.
Rent, utilities, salaries, wages, maintenance, depreciation, insurance, and the cost of provided goods are a few examples of expenses.
A payment paid to another person or business to cover the cost of a good or service is referred to as an expense.
It is free to produce attractive invoices with SumUp Invoices.
An expense is a sum of money that a business pays to suppliers or uses to buy goods or services.
Therefore, starting with net sales, you will deduct the cost of products sold and other costs to arrive at net income for a merchandiser.
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Complete question:
To compute net income for a merchandiser, you will start with net sales, subtract the cost of goods sold and subtract other _____.
True value jeans currently produces 60 pairs of jeans in an 8-hour day. the costs of production include?
a. Labor productivity for True Value Jeans is 2.5 pairs of jeans per hour of labor.
b. The multifactor productivity for True Value Jeans is approximately 0.045 pairs of jeans per dollar spent.
a. To calculate the labor productivity, we divide the number of jeans produced by the total labor hours. Given that 60 pairs of jeans are produced in an 8-hour day and there are 3 workers, we can calculate the labor productivity as follows:
Labor productivity = (Number of jeans produced) / (Number of labor hours)
= 60 pairs / (3 workers * 8 hours/worker)
= 2.5 pairs of jeans per hour of labor
b. To calculate the multifactor productivity, we divide the number of jeans produced by the total cost of production. The costs of production include raw material, labor, energy, and machines. Let's calculate the total cost:
Total cost = (Raw material cost) + (Labor cost) + (Energy cost) + (Machine cost)
= (60 pairs * $10.00/pair) + (3 workers * $20/hour * 8 hours) + ($1/hour * 8 hours) + (3 machines * $10/hour * 8 hours)
= $600 + $480 + $8 + $240
= $1,328
Now we can calculate the multifactor productivity:
Multifactor productivity = (Number of jeans produced) / (Total cost)
= 60 pairs / $1,328
≈ 0.045 pairs of jeans per dollar spent
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True Value Jeans currently produces 60 pairs of jeans in an 8-hour day. The costs of production include:
Raw material .... $10.00/pair
Labor ....... 3 workers, $20/hour
Energy ...... $1/hour of machine time
Machines ..... 3 machines, $10/hour
a. Calculate the labor productivity for True Value, i.e., how many jeans can be produced per hour of labor?
b. Calculate the multifactor productivity for True Value, i.e., how many pairs of jeans can be produced per dollar spent?
sales of cases of soft drinks are up 20% from last year. you sold 500 cases of soft drinks during September of the previous year. based on current demand trends, what would the forecast be for total sales of cases of soft drinks for this September?
Answer:
600 cases you welcome :)
Which examples demonstrate workplaces common to Management workers? Check all that apply. Lamont has a separate office with a door so he can discuss confidential information with employees. India works from home all the time at a small desk in her kitchen and does not interact with others very often. Zoe frequently travels to the different locations of her large company to meet with the workers she supervises. Mickey sits at a desk out in the open in a busy office environment and is responsible for greeting new visitors.
Answer:
a and c
Explanation:
.
Lamont has a separate office with a door, so he can discuss confidential information with employees and Zoe frequently travels to the different locations of her large company to meet with the workers she supervises are the examples demonstrate workplaces common to Management workers. Hence, options A and C are correct.
What is Management workers?A general manager, business manager, administrator, director, or other person who has operational or managerial control over, or who directly or indirectly manages, the day-to-day operations of a facility, organization, or agency is referred to as a managing employee.
Top-level managers, middle managers, first-line managers, and team leaders are the four most typical categories of managers. These positions differ not only in terms of their daily duties but also in terms of their overall role within the company and the types of personnel they supervise.
To accomplish particular objectives, managers plan, organize, direct, and control resources. The best strategy to accomplish their goals is determined throughout the planning process. In order to execute the company's strategy, resources must be allocated.
Thus, options A and C are correct.
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Which of the following is NOT a reason why people invest in the stock market?
A. Investing in the stock market usually offers a higher return than the interest earned on a savings account.
B. Investing is a guaranteed way to make money.
C. Investing in companies through the stock market offers a chance to share in the profits of those companies.
D. None of the above
Answer: B investing is a guarantee to make money
Explanation: I took the assessment
Explain five steps in product design for a business
Explanation:
Five phases guide the new product development process for small businesses: idea generation, screening, concept development, product development and, finally, commercialization.
i like peopel but people dont like me so what do i do i woulder why so can so who can help me please because no one wants to so please help me.
LensForAll is a company that sells affordable contact lenses on its website. The CEO of the company realizes that an app must be developed that would allow customers to virtually try on colored lenses to find out what best suits them. Which of these features should the app have
An application is a software that is used for several specific tasks like communication. So, for this CEO who wants to develop an application where his customers can try out lenses virtually, the following features should be included;
It should be a web app so that it runs on all devices It should be a native app so that the device camera can be used by the app It should have a responsive design so that it is easy to use on mobile devicesThe application should support all devices like phones, tablets, laptops, etc. This will ensure that all kinds of customers can access the app.
A native application that supports camera functionality should be used.
Finally, the page should be responsive so that many issues are not encountered during operation.
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Determine the effective tax rate for a taxable income of $63,425. round the final answer to the nearest hundredth. 10% 14.67% 15.18% 22%
22% is the effective tax rate.The effective tax rate is the proportion of income that a person or business must pay or withhold as taxes.
The average tax rate paid by an individual on both earned and unearned income, such as stock dividends, is referred to as their effective tax rate. The progressive tax model states that as income increases, the tax rate increases, moving people into a higher tax band. Any taxable income produced outside of that range is taxed at the next highest tax rate; each marginal tax rate only applies to income earned within that bracket. This means that all new income produced above the previous bracket is taxed at a higher rate for higher income individuals.Here, the provided table displays theFor taxable income in the income range of $40,526 to $86,375, the marginal tax rate is 22%.Actual tax rate:Effective tax rate = total taxes owed/taxable income multiplied by 100.Effective tax rate: $6,847.50/$56,152.5 multiplied by 100.Tax rate in effect: 10.869%.
Tax rate in effect: 10.87% (Approximately)With a total tax obligation of $6,847.50, taxable income of $56,152.2, a marginal tax rate of 22%, and an effective tax rate of 10.87%, they are excluded.
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