a. On November 15,20×1, Cool Venture Corporation. sold a segment of its business for RM2,750,000. The net book value of the segment at the time of its disposal was RM2,900,000. Cool Venture Corporation had pre-tax income from operations of RM2,570,000 for 20×1 which included RM275,000 recognized by the discontinued segment prior to its disposal. Assume Cool Venture's tax rate is 22%. Prepare a partial income statement for Cool Venture Corporation for 20×1, beginning with pre-tax income from continuing operations. (10 marks)
Answers
The Partial Income Statement for Cool Venture Corporation for 20×1 is Pre-tax income from continuing operations RM 2,295,000 ; Income tax expense (continuing operations) -RM 504,900 ; Gain (Loss) on disposal of segment -RM 150,000 ; Income tax benefit (discontinued segment) RM 33,000 ; Net Income RM 1,673,100.
To prepare a partial income statement for Cool Venture Corporation for 20×1, we need to calculate the pre-tax income from continuing operations and then incorporate the effects of the discontinued segment.
Given information:
Pre-tax income from operations (continuing operations) = RM2,570,000
Sale proceeds of discontinued segment = RM2,750,000
Net book value of discontinued segment = RM2,900,000
Tax rate = 22%
To calculate the pre-tax income from continuing operations, we subtract the income recognized by the discontinued segment from the total pre-tax income from operations:
Pre-tax income from continuing operations = Pre-tax income from operations - Income recognized by discontinued segment
= RM2,570,000 - RM275,000
= RM2,295,000
Next, we need to account for the disposal of the segment. The gain or loss on disposal is determined by comparing the sale proceeds with the net book value of the segment:
Gain (Loss) on Disposal = Sale Proceeds - Net Book Value
= RM2,750,000 - RM2,900,000
= -RM150,000 (Loss)
Now, we can calculate the income tax expense for both continuing operations and the discontinued segment:
Income Tax Expense = Pre-tax Income * Tax Rate
For continuing operations:
Income Tax Expense (Continuing Operations) = RM2,295,000 * 22%
= RM504,900
For the discontinued segment:
Income Tax Expense (Discontinued Segment) = -RM150,000 * 22% (as it is a loss)
= -RM33,000
Finally, we can prepare the partial income statement for Cool Venture Corporation for 20×1, starting with pre-tax income from continuing operations:
Partial Income Statement for Cool Venture Corporation for 20×1:
Pre-tax income from continuing operations RM2,295,000
Income tax expense (continuing operations) -RM504,900
Gain (Loss) on disposal of segment -RM150,000
Income tax benefit (discontinued segment) RM33,000
Net Income RM1,673,100
The income tax expense for the discontinued segment is treated as an income tax benefit since it is a loss.
This partial income statement reflects the pre-tax income from continuing operations, the gain or loss on the disposal of the segment, and the corresponding income tax effects. The net income is calculated after considering all these components.
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Related Questions
An insurance premium is...
Answers
Answer:
a monthly payment that ensures insurance coverage for a person.
Explanation:
An insurance premium paid on an insurance policy is referred to as a periodic payment made at regular intervals or in lump sum in order to insure the mishappening of an event against which such insurance has been taken.
What is the significance of an insurance premium?An amount, which is paid against the insurance of claim for mishappening of a particular event, is known as an insurance premium. The frequency of payment of an insurance premium is fixed and predetermined. Non-payment of insurance premium may lead to cancellation of policy.
An insurance premium is like a small proportion of the insured amount made against such event. It is worth to be noted that the payment of insurance premium paid can never be more than the actual amount insured by a person.
Therefore, the significance of an insurance premium has been aforementioned.
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In general, attitudes are used for ____. a. choosing b. identifying c. motivating d. explaining
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In general, attitudes are used for motivating. The concept of attitude can be defined as a mental state or outlook with respect to a particular object or idea.
Attitude is a construct in psychology that is used to explain or interpret behavior. It refers to a person's positive or negative evaluation of a particular entity or object. Therefore, the correct option is c. motivating. The extrinsic incentive includes things like getting paid to complete a task. Even though you might prefer to spend your day doing something else, you are motivated to go to work because you need the rewards from your job to pay your bills.
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You want to write a press release about a free new app you're offering. The app allows people to keep track of what they've eaten each day and reports on nutritional value and calories. It also creates customized recommendations for improving your diet. By emphasizing the cost-free nature of this useful tool in the press release, you are primarily relying on which principle of persuasion?
Answers
The principle of reciprocity is being used when emphasizing the free nature of the useful tool in the press release, as this principle generates a reciprocal response to individuals.
What is the principle of reciprocity?It corresponds to an approach developed by Cialdini, who states that reciprocity is the first principle of persuasion, as individuals are conditioned to reciprocate favors and concessions to others.
Therefore, by using the principle of reciprocity, emphasizing the free nature of the new app, the company hopes to generate more attention, use and positive response from the target audience as a form of retribution.
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Every year the hospitality and tourism industry spends less and less on sales promotion.
O False
O True
Answers
Answer:
false
Explanation:
By drastically reducing inventories, manufacturers can increase the utilization of more floor space. This is an example of a
Answers
Drastically reducing inventories to help manufacturers increase the utilization of more floor space is an example of B. a just-in-time (JIT) inventory system.
What is a Just-inTime inventory system?A Just-in-Time inventory system is inventory management that ensures that raw materials for production arrive as needed.
With a Just-in-Time system, inventory arrives as production is scheduled to begin.
The purpose of a Just-in-Time system is to reduce inventory on hand to the minimum just to meet demand.
A. a merchandising inventory system.
B. a just-in-time (JIT) inventory system.
C. a finished goods inventory system.
D. determining inventory quantities.
Thus, reducing inventories to help manufacturers increase the utilization of more floor space is an example of B. a just-in-time (JIT) inventory system.
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A _____ is a visual depiction of data that shows how often each value occurred.
A) frequency distribution.
B) frequency table.
C) grouped frequency table
Answers
A frequency table is a visual depiction of data that shows how often each value occurred. Thus, the correct answer is option A.
What is a frequency table?To make the information easier to understand, frequency distributions are visual displays that organise and present frequency counts. Absolute frequencies as well as relative frequencies, such as percentages or ratios, can be displayed in frequency distributions.
Values are provided in one column, while the second column lists the number of people that scored that value. Three different types of frequency distribution exist: relative cumulative frequency distribution, relative frequency distribution, and cumulative frequency distribution.
Therefore, option A is correct.
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My boss just fired me for putting something on the wrong shelf. But the thing is i don't work in the restock department. Is this something i should tell him or find a different job?
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An investor wants to compare the risks associated with two different stocks. One way to measure the risk of a given stock is to measure the variation in the stock’s daily price changes. The investor obtains a random sample of 21 daily price changes for stock 1 with standard deviation of 0. 8487 and 20 daily price changes for stock 2 with standard deviation of 0. 5291
Answers
When we compare the two standard deviations, we can see that s2 (0.5291) is lower than s1 (0.8487), indicating that stock 2 is at a lower risk than stock 1. It's important to keep in mind that since this comparison is based on a sample of daily price fluctuations, it might not fully reflect the companies' actual range of volatility over a longer time horizon.
Given
The sample size for Stock 1 is 21, and the sample's standard deviation is 0.8487.
The sample size for Stock 2 is 20, and the sample's standard deviation is 0.5291.
A measurement of a set of data's variability is the standard deviation.
Based on the facts provided, we can:
CV for stock 1 = (s1 / mean of daily price changes for stock 1) x 100%
= 0.8487 *100 / 21 =0.0404
CV for stock 2 = (s2 / mean of daily price changes for stock 2) x 100%
= 0.5291 * 100 / 20 = 0.0264
By contrasting the two standard deviations, we can see that s2 (0.5291) is smaller than s1 (0.8487), which implies that stock 2 is less risky than stock 1. This comparison may not fully reflect the true variability of the stocks over a longer time period since it is based on a sample of daily price changes, it is important to keep this in mind.
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how does cost-benefit analysis help make economic decisions?
Answers
Cost-benefit analysis (CBA) is a tool that helps make economic decisions by comparing the costs and benefits of a particular project or policy.
CBA helps to identify the net benefits of a project or policy by subtracting the costs from the benefits. This allows decision-makers to see whether the benefits of a project or policy outweigh the costs and whether it is worth investing in or implementing. By using CBA, decision-makers can make informed choices about how to allocate resources and can ensure that they are using them in the most efficient and effective way possible.
CBA is a quantitative tool that helps decision-makers to weigh the costs and benefits of different options, it also helps to identify potential trade-offs and helps to prioritize among alternative options. It is widely used by government agencies, private organizations, and international bodies to evaluate the impact of proposed projects and policies.
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An organization owned by stockholders that accepts deposits, processes payments, and
makes loans is called
Answers
Answer:
A Bank
Explanation:
a registered investment adviser (ria) puts some of his clients into a limited partnership investment, for which he receives a referral fee. which statement is true about this practice?
Answers
Investment advisers do not receive commissions, hence the rule against commission sharing with unlicensed individuals does not apply to them.
Which of the following situations would relieve an investment adviser of its fiduciary responsibility to its clients?Under no circumstances, nor do regulators grant exceptions, may an investment adviser circumvent its fiduciary duties by including a hedge clause in its contract.
An investment adviser is what?Any person who, in exchange for payment, acts in the business of counseling others about the value of securities or whether it is a good idea to invest in, buy, or sell securities, or who, in exchange for payment and as part of a regular business.
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If the value of the goods and services a country produces increases while its
population stays the same, which statement must be true?
A. The country's unemployment rate has decreased.
B. The country's total GDP has decreased.
C. The country's per capita GDP has increased.
D. The country's rate of inflation has increased.
Answers
If the value of the goods and services a country produces increases while its population stays the same, "the country's per capita GDP has increased."
This is based on the idea that per capita GDP is a form of GDP measure that divides the total GDP, particularly a country with the population or number of people living in that country.
Therefore, when the value of the goods and services a country produces increases while its population stays the same, "the country's per capita GDP has increased."
Hence, in this case, the correct answer is option C. "the country's per capita GDP has increased."
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Answer: The country's per capita GDP has increased. So "C" is right.
Explanation: Just took the quiz
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Upload your completed spreadsheet comparing five hybrid cloud companies
Answers
The term "hybrid cloud" refers to the services provided by data centres and public clouds combined. Some of its vendors are WebSphere Cast Iron Cloud Appliance, Federation Enterprise Hybrid Cloud, CloudSystem, LotusLive, Windows Azure platform, and Amazon Web Services.
Top 5 by Revenue: Global Leaders in the Hybrid Cloud Market
Hybrid cloud solutions give merchants a competitive edge by offering traditional IT infrastructure state-of-the-art services to their customers in addition to being affordable and secure. Since hybrid cloud computing solutions provide a secure firewall for private services and sufficient . They are popular among both large and small enterprises due to its integration for public ones.
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What are the problems associated with the existing transport system in North-Staffordshire?
Answers
The existing transport system in North-Staffordshire suffers from congestion and limited public transport options.
North-Staffordshire faces significant traffic congestion during peak hours, which not only causes delays and frustration for drivers but also increases air pollution. Additionally, the public transport options in the region are limited, making it difficult for residents to access important services and employment opportunities.
Many areas also lack proper cycling infrastructure, which discourages people from choosing sustainable transport options. These problems can have negative impacts on the environment, public health, and the economy.
Finding ways to address these issues and improve the transport system in North-Staffordshire is an important task for policymakers and transportation planners.
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1. You have determined that the Product ID attribute is irrelevant, and that you only care about Product Category 1 through 9 . Build a process that does the following: -Selects the Product Name, Product Category, and Price attributes (but not Product ID) -Removes all rows with Product Category =10 Show a screenshot of the Process panel. (You do not need to include the Parameters panel.) 2. Run your process from the previous question. Show a screenshot of the Statistics output in the Results view, with Price expanded (that is, with the histogram and deviation visible for the Price attribute). 3. Change the process to instead include ONLY Product Category 10. Re-run the process. What is the average Price of products in category 10 ? 4. A manager suggests looking at the correlation between Price and Product Category to see how those two attributes are related. Briefly (1-2 sentences), why is that a bad idea?
Answers
1. To build a process that selects the Product Name, Product Category, and Price attributes (but not Product ID) and removes all rows with Product Category =10,
follow the below steps:a. Select the columns to keep (Product Name, Product Category, and Price) and remove the Product ID column.b. Select Filter Rows from the toolbar or right-click menu.c. Drag the Product Category attribute into the filter row. Keep the Keep option and choose 1 through 9, then click OK.d. To remove Product Category 10 rows from the data set, we'll drag the filter to the canvas.
2. The process from the previous question should be run. After that, statistics should be shown with the Price expanded (that is, with the histogram and deviation visible for the Price attribute). The below picture is a screenshot of the Statistics output in the Results view.
3. To change the process to include ONLY Product Category 10 and re-run it, we need to perform the following steps:a. Remove the filter on Product Category that we created previously.b. Use the Filter Rows transformation to remove any rows that aren't Product Category = 10.c. Run the process to get the average price of products in category 10. The screenshot below shows the average price of products in category 10.
4. Correlation between Price and Product Category should not be examined since one is a numeric attribute and the other is a categorical attribute. To check the correlation between two variables, they must both be numeric attributes.
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The difference between small business and entrepreneurship has nearly nothing to do with size and nearly everything to do with
O Capital
O competition
O number of employees
O characteristics
→
Answers
Answer: (1) Entrepreneurs are always looking for ways to make money while small business have the same goal but company owners also focus on maintaining their business income to pay for operating expenses.
(2) Entrepreneurs are more likely to take on debt than small business owners and typically have much higher risk tolerance. They are comfortable assuming larger uncertainties to pursue new ideas and opportunities
(3) Entrepreneurs are risk-takers while store owners are more conservative
(4) Entrepreneurs are future-oriented, while small business owners typically focus on the present.
Explanation:
Joe owns a business which produces wooden furniture he employs 20 workers in the production Department and three workers in the office is Joe pays all his workers wages which are calculated by time rate but he is thinking of changing to peace rate
Answers
Answer:
The peace rate will result in lower total wages than time rate.
Explanation:
Piece rate is a wages calculator in which labors are paid for the piece of work done by them. They are paid for the quantity of units produced irrespective of time consumed. Time rate is wage calculation method in which wages are calculated based on hours worked. The major disadvantage for this method is that labors can waste time making products due to securing high wage.
Summarize what is a stock?
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HOW IS EVERYONE i love u all and enjoy helping you where u may struggle
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Answer:
THANK YOU SOOO VERY MUCH. I need assistance with my question
Indicate whether each of the following transactions represents an increase in net exports, a decrease in net exports, an increase in net capital outflow, or a decrease in net capital outflow for the United States. Transaction Net Exports Net Capital Outflow Increase Decrease Increase Decrease The Japanese car manufacturer Nissan builds a factory in Ohio. A German citizen buys an Apple computer. An American buys a Sony TV. An American fashion company opens up an outlet in the U.K.
Answers
Answer:
Net export decreases and net capital outflow decreases
Net export increases and net capital outflow decreases
Net export decreases and net capital outflow increases
Net export increases and net capital outflow increases
Explanation:
Net export = export - import
export would comprise of goods and services produced in the US that are been sold to foreign countries
Import would comprise of foreign produced goods and services that are been sold in the US
Net export would increase when export occurs and decrease when import occurs
Net capital outflow measures the flow of funds in a country. It is the difference between purchase of foreign assets by the citizens of a country and the purchase of domestic assets by foreigners
Net capital outflow = purchase of foreign assets by citizens - purchase of domestic assets by foreigners
Net capital outflow is positive when purchase of foreign assets occur and negative when purchase of domestic assets occur.
1. the setting up of the factory is an import and there is a flow of funds into the US economy. Thus, net export and net capital flow decrease
2. A Apple computer is produced in the US. The sale to a German constitutes an export but there is a flow of fund into the US economy. net export increase and net capital outflow decreases
3. Sony is not produced in the US. the purchase of the TV constitutes an import and there is a flow of funds out of the US economy. Net export reduces and net capital outflow increases
4. The opening of the fashion company outlet in the UK constitutes an export and there is a flow of funds out of the US. Net export increases and net capital outflow increases
What is demand comprised of
Answers
You have just been named the new president of a small chain of 12 restaurants. After touring each of the 12 facilities, you realized that several locations have developed their own strengths and innovations that have dramatically increased performance. These ideas are so outstanding that you'd like to see them used in all 12 locations. Given the interdependencies in your organization, how could you facilitate greater consisgency across the board? a. Due to reciprocal interdependence, you could use intensive technologies to share knowledgeand best practices. b. Due to pooled interdependence, you could use a mediating technology to increase workflow and knowledge sharing c. You could shift to sequential interdependence, in which knowledge is passed along from one unit to the next. d. With pooled interdependence, you could implement standardized procedures that facilitate more consistent outcomes across all units.
Answers
With pooled interdependence, implementing standardized procedures can ensure consistent outcomes across all units. Option D is the most appropriate answer.
This approach would involve developing a set of best practices that can be implemented uniformly across all locations. This would help to ensure that the innovations and strengths identified in some locations are leveraged across the entire organization, leading to greater consistency in performance.
Additionally, implementing standardized procedures would help to increase efficiency and reduce the potential for errors or inconsistencies in operations.
Overall, this approach would be the most effective way to facilitate greater consistency across the board, given the interdependencies in the organization.
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The same basic formulas used for materials and labor are used to analyze ______ portion of manufacturing overhead. Multiple choice question. the fixed both the variable and fixed the variable neither the variable nor fixed
Answers
The same basic formulas used for materials and labor are used to analyze the variable portion of manufacturing overhead, which means Option B.
What is manufacturing overhead?manufacturing overhead serves as the addition of of all the indirect costs during the manufacturing process of the product.
An this It is added to the cost as well as direct material and direct labor costs after the final product.
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1.) What is the present worth of a future cost of $8000 dollars in 20 years if the interest rate is 15% per year? a.) An individual in planning to buy a new truck 7 years from now. The expected cost of the truck is $40,000 at the time of purchase. The person wants to make a down payment of half the truck value at the time of purchase. How much must the person save each year if they can earn 7% per year over the period on their savings? b.) How much money would you accumulate in 12 years if you take an annual salary bonus of $3000 and 1.) place it in a checking account that draws 0% interest 2.) place it in a interest-bearing account that earns 2.5% annually 3.) buy a stock that has an average annual return of 8% c.) You are promised a future amount $5000 in 5 years through a bond purchase. How much should you pay for this bond if you wish to earn 7% on your money?
Answers
To find the present worth of a future cost of $8,000 in 20 years at an interest rate of 15% per year, we can use the formula for the present value of a single amount:
Present Worth = Future Cost / (1 + Interest Rate)^Number of Years
Present Worth = $8,000 / (1 + 0.15)^20
Present Worth ≈ $482.32
Therefore, the present worth of the future cost of $8,000 in 20 years, with an interest rate of 15% per year, is approximately $482.32.
a) To calculate how much the person must save each year if they can earn 7% per year over the period on their savings, we can use the formula for the annual payment required for a future value:
Annual Payment = Future Value / [(1 + Interest Rate)^Number of Years - 1] * Interest Rate
Future Value = $40,000 * 0.5 (down payment)
Interest Rate = 7%
Number of Years = 7
Annual Payment = ($40,000 * 0.5) / [(1 + 0.07)^7 - 1] * 0.07
Annual Payment ≈ $3,477.69
Therefore, the person must save approximately $3,477.69 each year to accumulate enough for a down payment of half the truck value in 7 years, assuming an interest rate of 7% per year.
b) To calculate the accumulated money over 12 years under different scenarios:
Placing the bonus in a checking account that draws 0% interest:
Accumulated Money = Annual Bonus * Number of Years = $3,000 * 12 = $36,000
Placing the bonus in an interest-bearing account that earns 2.5% annually:
Accumulated Money = Annual Bonus * [(1 + Interest Rate)^Number of Years - 1] / Interest Rate = $3,000 * [(1 + 0.025)^12 - 1] / 0.025 ≈ $39,374.68
Buying a stock with an average annual return of 8%:
Accumulated Money = Annual Bonus * [(1 + Average Return Rate)^Number of Years] = $3,000 * (1 + 0.08)^12 ≈ $58,152.53
Therefore, the accumulated money in 12 years would be approximately $36,000 if placed in a checking account with 0% interest, $39,374.68 if placed in an interest-bearing account earning 2.5% annually, and $58,152.53 if invested in a stock with an average annual return of 8%.
c) To determine how much you should pay for the bond to earn a 7% return on your money, we can use the formula for the present value of a single amount:
Present Value = Future Amount / (1 + Interest Rate)^Number of Years
Future Amount = $5,000
Interest Rate = 7%
Number of Years = 5
Present Value = $5,000 / (1 + 0.07)^5
Present Value ≈ $3,512.11
Therefore, you should pay approximately $3,512.11 for the bond if you wish to earn a 7% return on your money.
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in which of the following situations would engineering jobs be most likely treated as a special compensation group? group of answer choices mechanical engineers employed by a large city corporation computer engineers employed at a software firm biomolecular engineers employed at a farm equipment manufacturer acoustical engineers at a waste disposal company
Answers
Engineering jobs would be most likely treated as a special compensation group in a situation where acoustical engineers are employed at a waste disposal company.
This is because acoustical engineering is a highly specialized field, and waste disposal companies may require unique expertise to manage environmental noise pollution issues. In such a scenario, the company may offer special compensation packages to attract and retain talent in this particular engineering field.
A special compensation group refers to a group of employees within an organization who receive different compensation arrangements compared to the rest of the employees due to the specialized nature of their work or skillset. This compensation may come in the form of higher salaries, bonuses, or other benefits.
In the context of the given answer choices, the group of biomolecular engineers employed at a farm equipment manufacturer is most likely to be treated as a special compensation group.
This is because biomolecular engineering is a highly specialized field, and the company may require these engineers to have unique skills and knowledge to develop new products and processes that are relevant to the farm equipment industry.
In addition, due to the limited availability of professionals with this type of expertise, the company may need to offer competitive compensation packages to attract and retain these employees.
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-1 Name the Act that makes provision for employees to improve their work performance.
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Jennifer's looking to limit the number of people who see her Google Search Ad for an all-inclusive vacation to Paris. She doesn't want to match with people looking for anything else — just "all-inclusive vacation Paris." So she limits who sees her ad using exact match type. Which search terms might match with Jennifer's ad?
Answers
Answer:
Missing options of the stated question are:
Best all-inclusive vacation All-inclusive family Paris vacation All-inclusive vacation All-inclusive Paris holidayThe correct answer is option D.
All-inclusive Paris holiday.
Explanation:
Search terms are the list of terms that a user use that bring results of advertisements. This tool is used by the search engine to trigger and match the keywords used by the user and that appears in the keywords of an advertisement. The search engine uses the search terms entered by the user and the keywords stated by an advertiser in his/her advertisement and brings forth the matching results based on the keywords.
In the given case, Jennifer limits her audience for an 'all-inclusive vacation to Paris.' So, the correct search term that will match with her keywords in the advertisement will be 'all-inclusive Paris holiday.' This search term will match with the keywords of Jennifer's advertisement.
Thus the correct answer is the last option.
Given the following table, how many workers should be hired to maximize profits?
Labor Marginal Product Labor VMPL Wage
1 8 $32 $100
2 32 $128 $100
3 16 $64 $100
4 -1 $-4 $100
5 -12 $-48 $100
A. 1
B. 2
C. 3
D. 4
Answers
The number of workers that should be hired to maximize profits is 2 workers. The correct option is B.
To determine how many workers should be hired to maximize profits, we should compare the value of the marginal product of labor (VMPL) to the wage for each worker.
1. Look at the VMPL and wage for each worker.
2. Compare the VMPL to the wage for each worker.
3. Hire workers until the VMPL is less than or equal to the wage.
Worker 1: VMPL is $32, and the wage is $100. Since the VMPL is less than the wage, we do not hire this worker.
Worker 2: VMPL is $128, and the wage is $100. Since the VMPL is greater than the wage, we hire this worker.
Worker 3: VMPL is $64, and the wage is $100. Since the VMPL is less than the wage, we do not hire this worker.
Worker 4: VMPL is $-4, and the wage is $100. Since the VMPL is less than the wage, we do not hire this worker.
Worker 5: VMPL is $-48, and the wage is $100. Since the VMPL is less than the wage, we do not hire this worker.
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You buy a pair of sunglasses from a manufacturer for $100. you would have been willing to pay $130 for them; it cost the manufacturer $70 to make them. what is the economic surplus created by this exchange?
Answers
The economic surplus created by the exchange is $40 if we buy a pair of sunglasses from a manufacturer for $100.
Sunglass price = $100
Amount willing to pay = $130
Cost of manufacturer = $70
Economic surplus is the combination of benefits, generally referred to as total welfare, that a consumer or producer obtains as a result of economic activity. It is also called total surplus and communal surplus.
Producer surplus = Total Revenue – Production Cost
Producer surplus = 100 - 70
Producer surplus = $30
consumer surplus = the price is willing to pay - the actual amount paid.
consumer surplus = 130 - 100
consumer surplus = 30
The economic surplus = Producer surplus + consumer surplus
The economic surplus = 30 +30
The economic surplus = $40
Therefore we can conclude that the economic surplus created by this exchange is $40.
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You just turned 23 years old and want to retire when you turn 65. You expect to live for 25 years after retirement and want to withdraw $90,000 per year in retirement, starting on your 65th birthday.
Answers
To retire at 65 and live comfortably for 25 years after retirement, while withdrawing $90,000 per year, you need to save a certain amount of money before you turn 65.
1. Calculate the number of years you have until retirement:
Retirement age - Current age = Years until retirement
65 - 23 = 42 years until retirement
2. Determine the total amount of money needed for retirement:
Years in retirement * Annual withdrawal amount = Total amount needed for retirement
25 * $90,000 = $2,250,000
3. Calculate the amount of money you need to save each year:
Total amount needed for retirement / Years until retirement = Annual savings needed
$2,250,000 / 42 = $53,571.43 (rounded to the nearest cent)
So, in order to retire at 65 and withdraw $90,000 per year for 25 years, you would need to save approximately $53,571.43 annually starting from now until you turn 65. This calculation assumes a consistent annual withdrawal amount and doesn't take into account inflation or investment returns. It's always a good idea to consult with a financial advisor to discuss specific investment strategies and factors that may affect your retirement savings.
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