describing the characteristics of perfectly competitive firms. Be sure to include an explanation of how they establish price, why their demand curves are horizontal, and why the price elasticity of demand for the goods or services they sell is usually highly elastic.
Answers
Perfectly competitive firms are characterized by several key features. First, they are numerous, meaning there are many firms in the market, each producing a small share of the total output. Second, they produce identical products, meaning consumers cannot differentiate between the goods or services offered by one firm versus another. Third, they have easy entry and exit, meaning that new firms can enter the market if they believe they can earn a profit, while existing firms can leave the market if they are not profitable.
Because there are many firms producing identical products, each firm is a price taker rather than a price setter. This means that they cannot influence the market price of their product, and must accept the price determined by the market. Therefore, perfectly competitive firms establish price by taking the market price as given, and producing as much as they can at that price.
Because there are so many firms in the market producing identical products, the demand curve facing each firm is perfectly elastic, or horizontal. This means that if the firm were to raise its price even slightly above the market price, it would lose all of its customers to other firms selling the same product at a lower price. Conversely, if the firm were to lower its price even slightly below the market price, it would gain no additional customers, since consumers can purchase the same product from other firms at the market price.The price elasticity of demand for the goods or services sold by perfectly competitive firms is usually highly elastic because consumers have many options for purchasing the same product from different firms at the market price. This means that if the firm were to increase its price, consumers would simply switch to purchasing from another firm selling the same product at the market price. Similarly, if the firm were to lower its price, consumers would not increase their quantity demanded significantly, since they can already purchase the same product at the market price from other firms. Therefore, perfectly competitive firms must price their products very close to the market price in order to sell any quantity of their product.
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Related Questions
a company estimates that the marginal cost (in dollars per item) of producing items is . if the cost of producing one item is , find the cost of producing items.
Answers
Based on the information provided, the company estimates that the marginal cost of producing items is unspecified.
However, we are given the cost of producing one item, which is also known as the average cost. This cost is also unspecified. Therefore, we cannot determine the exact cost of producing items.
To calculate the cost of producing items, we need to know the marginal cost per item. The marginal cost is the additional cost of producing one more unit. Without knowing this value, we cannot determine the total cost of producing items.
Additionally, we should note that the cost of producing items may not be linear. This means that the cost of producing 10 items may not be ten times the cost of producing one item. It could be more or less, depending on various factors such as economies of scale and production efficiency.
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If productivity increases significantly and demand is not very elastic, what is likely to happen?
A
B. Fewer workers will be needed.
C. Division of labor will decrease.
D. Demand will increase.
The number of consumers will increase.
Please select the best answer from the choices provided
A
OB
D
Answers
Answer:
B. Fewer workers will be needed.
Explanation:
Elastic demand refers to a flexible demand. It is a demand that can increases or decreases due to several factors. If demand is not elastic, it implies it is constant. An increase or decrease in output or price will not affect the quantity demanded.
An increase in productivity means an increase in output per worker. It is the increase in the number of units produced, per hour, per worker. An increase in productivity results in more output in a given period than previously.
If the demand is constant and there is an increase in productivity, only a few workers will be required. The output from the few workers will be high to meet the constant demand.
Answer:
B
Explanation:
how has technology changed communication over the past decade?
Answers
Answer:
Explanation:
Advancements in technology and changes in communication generally go hand in hand. Landlines displaced the telegraph and cell phones replaced landlines. The arrival of the internet opened new doors of personal communication. E-mails replaced postal mails and social media took the place of text messages
Which two renewable technologies do not rely on energy from the sun?.
Answers
Answer:
GEOTHERMAL AND TIDAL ENERGY
Explanation:
Carla needs to examine the structure of the tables in her database. Where will she find the Table Analyzer Wizard in
Access 2016 to achieve this goal?
O Home
Create
O Database Tools
O File
Save and Exit
Nexi
Mark this and return
Answers
Answer:
database tools
Explanation:
Answer:
C) Database Tools
Explanation:
On January 1, 2017, Robinson Company purchased Franklin Company at a price of $2,500,000. The fair market value of the net assets purchased equals $1,800,000.
What is the amount of goodwill that Robinson records at the purchase date?
Explain how Robinson would determine the amount of goodwill amortization for the year ended December 31, 2017.
Robinson Company believes that its employees provide superior customer service, and through their efforts, Robinson Company believes it has created $900,000 of goodwill. How would Robinson Company record this goodwill?
Answers
On January 1, 2017, Robinson Company purchased Franklin Company at a price of $2,500,000. The fair market value of the net assets purchased equals$1,800,000. Thus the amount of goodwill that Robinson records at the purchase date is $700,000.
What is the calculation?Step 1
Given that the entire Franklin Company was purchased by Robinson Company, goodwill should be recorded.
To solve for the purchased goodwill, we have
Goodwill= Purchase price of the company−Market value of the individual net assets
=$2,500,000−$1,800,000
= $700,000
Thus, the purchased goodwill is valued at $700,000.
Step 2
Goodwill is recorded as an asset and is not amortized, thus there will be no amount for goodwill amortization for year ended December 31, 2017. Instead, goodwill is tested for impairment annually.
Step 3
Goodwill is recorded only when it is acquired upon purchase. In this case, since goodwill is based solely on the employees' efforts of providing superior customer service, Robinson Company should not record it.
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Fill in the blanks: 1. The situation when law of demand is not applicable is known as it's............ 2. When price of one good affects to the demand for other good, this situation is known as ............... 3. Demand is the effective desire backed by.....................And .....................
Answers
Answer:
1. The situation when law of demand is not applicable is known as it's EXCEPTION.
2. When price of one good affects to the demand for other good, this situation is known as CROSS ELASTICITY OF DEMAND
3. Demand is the effective desire backed by the ABILITY and WILLINGNESS to buy the product.
Explanation:
Demand is a term that is born out of the human desires , wants or needs.
Demand can be defined or referred to as the amount a consumer is able and willing to pay in other to purchase goods and services that they desire or want.
The Law of demand states that the Quantity of goods and services demanded is inversely proportional to the prices of these goods and services. This means when the prices of goods increase, the quantity demanded decreases and when the prices of goods decreases ,the quantity of goods and services demanded increases.
Elasticity of Demand can be defined as the responses or effects of changes in price of goods and services on changes in the quantity demanded.
We have 4 types of Elasticity of Demand
a) Price Elasticity of Demand: This is when the quantity of goods and services demanded is affected by the change in price.
b) Price Elasticity of Supply: This is when the quantity of goods and services supplied is affected by the change in price.
c) Cross Elasticity of Demand: This is when the price of one good affects to the quantity demanded for other good,
d) Income Elasticity of Demand: This when the quantity of goods and services demanded is affected by the changes in the income of the consumer.
There are situations whereby the law of demand is not applicable and this is referred to as it's exceptions. Those situations are:
a) The type of goods and services.
b) When changes in the price of the goods and services is expected by consumers.
c) Changes that occurs in fashion or styles of a particular product ( This is when a product goes out of fashion or the style becomes outdated)
8.1 Seattle Health Plans currently uses zero debt financing. Its operating profit is $1 million, and it pays taxes at a 40 percent rate. It has $5 million in assets and, because it is all-equity financed, $5 million in equity. Suppose the firm is considering replacing half of its equity financing with debt financing that bears an interest rate of 8 percent.
a. What impact would the new capital structure have on the firm’s profit, total dollar return to investors, and return on equity?
b. Redo the analysis, but now assume that the debt financing would cost 15 percent.
c. Repeat the analysis required for Part a, but now assume that Seattle Health Plans is a not-for-profit corporation and hence pays no taxes. Compare the results with those obtained in Part a.
I have seen this question being answered over and over however, the answers differ thus I am thrown off on how to actually do the problem.
Answers
Seattle Health Plans can increase return on equity by replacing half equity with 8% interest rate debt, but not if debt financing costs 15%. For a not-for-profit corporation, the total dollar return to investors would remain at $1.2 million, and the return on equity would increase to 12%.
a. If Seattle Health Plans replaces half of its equity financing with debt financing that bears an interest rate of 8 percent, the firm's new capital structure would have a significant impact on its profit, total dollar return to investors, and return on equity.
The firm's new capital structure would be 50 percent debt and 50 percent equity. The interest expense associated with the debt financing would be $200,000, and the firm's net income would decrease to $600,000 ($1 million operating profit - $400,000 interest expense - $0 taxes).
The total dollar return to investors would increase to $1.2 million ($600,000 net income + $600,000 return to debt holders) from $1 million when the firm was all-equity financed. The return on equity would also increase to 12 percent ($600,000 net income / $5 million equity) from the previous 10 percent.
b. If the debt financing would cost 15 percent, the interest expense associated with the debt financing would be $375,000, which is higher than the firm's operating profit.
Therefore, Seattle Health Plans should not pursue this financing option, as it would result in a net loss of $275,000 ($1 million operating profit - $375,000 interest expense - $0 taxes).
c. If Seattle Health Plans is a not-for-profit corporation and hence pays no taxes, the interest expense associated with the debt financing would remain at $200,000. The firm's net income would still decrease to $600,000, but the total dollar return to investors would remain at $1.2 million.
However, the return on equity would increase to 12 percent ($600,000 net income / $5 million equity) from the previous 10 percent due to the increase in return to debt holders.
In summary, the impact of changing the capital structure on a firm's financial metrics can be significant. Seattle Health Plans' decision to replace equity financing with debt financing would increase the total dollar return to investors but decrease net income and return on equity.
The cost of debt financing must be carefully considered to ensure that it does not result in a net loss for the firm. In the case of a not-for-profit corporation that pays no taxes, the impact on total dollar return to investors may be the same, but the return on equity would be affected differently due to the lack of taxes.
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aggregate supply is the relationship between the quantity of _____ supplied and the _____ when all other influences on production plans remain the same.
Answers
Aggregate supply is the relationship between the quantity of goods and services supplied and the price level when all other influences on production plans remain the same.
Aggregate supply refers to the total quantity of goods and services that producers are willing and able to supply at a given price level. The relationship between the quantity of goods and services supplied and the price level is known as the aggregate supply curve.
The aggregate supply curve shows the quantity of goods and services that firms are willing and able to produce at different price levels, holding constant all other factors that affect production plans, such as technology, factor prices, and input costs.
In the short run, the aggregate supply curve is upward-sloping, indicating that firms can increase production as prices rise due to nominal wage rigidity and other factors. In the long run, the aggregate supply curve is vertical, indicating that the level of output is determined by the economy's potential output and is independent of the price level.
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Which of the following is most likely to be a reason for ineffective international business negotiations a)differences in cultural values and problem-solving techniques b) lack of socializing with the opposite party c)lack of nonverbal communication d) highly restrictive government legislations
Answers
The most likely reason for ineffective international business negotiations is A) differences in cultural values and problem-solving techniques.
When engaging in international business negotiations, cultural differences can significantly impact the effectiveness of communication and problem-solving. Different cultures have distinct values, norms, communication styles, and approaches to conflict resolution. These differences can lead to misunderstandings, misinterpretations, and a lack of trust between parties. Effective cross-cultural communication and understanding are essential for successful negotiations. By recognizing and adapting to cultural differences, negotiators can build rapport, establish common ground, and find mutually beneficial solutions. The other options listed (lack of socializing,
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EastGate Physical Therapy Inc. Is planning its cash payments for operations for the first quarter (January–March). The Accrued Expenses Payable balance on January 1 is $15,000. The budgeted expenses for the next three months are as follows:
Answers
The question is incomplete. The full question is :
EasyGate Physical Therapy Inc. is planning its cash payments for operations for the first time quarter (January - March), 2015. The Accrued Expenses Payable balance on January 1 is $ 15,000. The budgeted expenses for the next three months are as follows :
January February March
Salaries $ 56,9000 $ 68,100 $ 72,200
Utilities 2,400 2,600 2,500
Other operating expenses 32,300 41,500 44,700
Total $ 91,600 $ 112,200 $ 119,400
Other operating expenses include $ 3000 of monthly depreciation expense and $500 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining paid in the following month. The Accrued Expenses Payable balance on January relates to the expenses incurred in December.
Solution :
SCHEDULED OF CASH PAYMENTS
Particulars January February March
Accrued expenses payable $ 15,000
Payment of current month expenses $ 61, 670 $ 76, 090 $ 81,130
Payment of prior month's expenses $ 26, 430 $ 32, 610
Total payment $ 76, 670 $ 102,520 $ 113,740
Working :
January February March
Other operating expenses $ 32,300 $ 41,500 $ 44,700
Less: devaluation expenses $3,000 $3,000 $3,000
Prepaid expenses $500 $500 $500
Other operating expenses $ 28, 800 $ 38,000 $ 41, 200
Additional Salaries expenses $ 56, 900 $ 68,100 $ 72, 200
Additional Utilities expenses $ 2,400 $ 2600 $ 2500
Total budgeted expenses $ 88,100 $ 108,700 $ 115, 900
Payment in current month at 70% $ 61, 670 $ 76,090 $ 81, 130
Payment in prior month at 30% $ 26, 430 $ 32,610 $ 34, 770
Post-Assessment
Question 2 of 5
Why is buying a car considered "bad debt"?
It decreases in value over time
It increases your net worth as it build equity
It gives you transportation to and from your job
It is worth more than any other investment
Submit
Continue
E
Answers
The reason why buying a car considered "bad debt"is that It decreases in value over time. option A
What is bad debt?The term bad debt can be described as the amount of money that a creditor must write off as a result of a default on the part of the debtor in a case whereby the creditor has a bad debt on the books, then things turn to uncollectible and is recorded as a charge-off.
It should be noted that a case can be regarded as bad debt because the value of the asset you receive from the loan depreciates quickly however in some cases interest charges increase how the amount that is been paid for the vehicle. and in thius case cost is higher compare to what it would be if you'd purchased the car outright with cash.
Hence, option A is correct.
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Accounting
Which of the following is an advantage of the weighted average method?
A. It can replace the need for physical inventory counting altogether.
B. It does not require original purchase cost to determine the total
inventory cost.
C. It allows the costs of expensive units to be recovered if costs vary
widely.
D. It makes large inventories with many small items easier to count
repeatedly.
Answers
It allows the costs of expensive units to be recovered if costs vary widely. Option C
The weighted average method is a commonly used inventory valuation method. It calculates the average cost of all units available for sale during a given period. The advantage of this method is that it allows the costs of expensive units to be recovered if costs vary widely.
By using the weighted average method, expensive units that were purchased at higher costs are averaged together with units that were purchased at lower costs. This ensures that the cost of goods sold (COGS) is not disproportionately impacted by high-cost units, resulting in a more balanced and accurate valuation of inventory.
Option A is incorrect because the weighted average method does not replace the need for physical inventory counting. Physical inventory counting is still necessary to determine the quantity of items on hand.
Option B is incorrect because the original purchase cost is indeed required to determine the total inventory cost under the weighted average method.
Option D is incorrect because the ease of counting large inventories with many small items repeatedly is not a specific advantage of the weighted average method. The method focuses on the valuation of inventory, not the counting process itself. Option C
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Firms following a global strategy strive to offer ______________ products and services as well as locate manufacturing, r&d, and marketing activities in _____________ locations.
Answers
A global strategy strive to offer standardized products ; marketing activities in few locations.
What is strategy?Plans of action designed to achieve long-term or general objectives; techniques for planning and directing general military operations and movements in war or combat;These five elements of strategy include arena, Includes discriminator, vehicle, staging, and economy. logic. The model was developed by strategic researchers Donald Hambrick and James Fredrickson. For example, your marketing strategy addresses pricing, distribution, product, packaging, and advertising. Each may have a specific strategy. Human resource management also has many strategies. These include hiring, firing, compensation strategies, or training strategies. A strategy helps you define your business, give it a set of values, and give it purpose.It helps you understand what success really looks like. It provides a roadmap for your business, indicates your destination, and identifies helpful stops along the way.To learn more about strategy from the given link :
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In a marketer's macroenvironment, the _ environment consist of laws, government agencie
Answers
In a marketer's macroenvironment, the **political** environment consists of laws, government agencies, and political factors that can influence the marketing activities of a company.
The political environment plays a crucial role in shaping the business landscape and creating opportunities or challenges for marketers. It encompasses various elements such as government regulations, policies, political stability, and the overall legal framework within which businesses operate.
Laws and regulations imposed by governments can impact marketing strategies and activities. These may include consumer protection laws, advertising regulations, trade policies, intellectual property rights, and environmental regulations. Marketers need to stay updated and compliant with these laws to ensure ethical and legal business practices. Government agencies and regulatory bodies also influence the marketing environment by enforcing and monitoring compliance with these laws.
Political factors such as political stability, government ideologies, and relationships with other countries can also have an impact on the marketing environment. Changes in government policies or political events can create opportunities or pose risks for businesses. Marketers need to carefully analyze and adapt to political changes to effectively navigate the macroenvironment and make informed marketing decisions.
Overall, the political environment is a crucial aspect of a marketer's macroenvironment, as it influences the legal and regulatory framework, government policies, and political factors that can shape the marketing strategies and operations of a company.
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When is using a credit card to cover an emergency expense a good idea and won't cost you any interest?
Answers
Answer:
Bottom line. Depending on your personal financial situation, it can be ideal to have both credit cards and cash on hand during emergencies. A credit card can help you redeem rewards while also covering your emergency expenses, but it should only be used if you can pay the balance off in full without incurring interest.
Explanation:
Do you believe the government should play a role in speeding up or slowing down the economy
Answers
Answer:
Yes I do believe they should because it is important to speed up economy's rate of growth
which of the following can be causes of frictional unemployment? unemployment benefits press space to open industries shutting down due to long-term changes in consumer tastes press space to open lack of information press space to open governm
Answers
The causes of frictional unemployment in this list include unemployment benefits and lack of information.
1. Unemployment benefits can contribute to frictional unemployment as they may provide a safety net for job seekers, allowing them to take more time to search for a job that suits their skills and preferences.
2. Lack of information can also lead to frictional unemployment, as job seekers may not be aware of job opportunities or may have difficulty finding a job that matches their qualifications and interests.
Industries shutting down due to long-term changes in consumer tastes and government policies are not directly related to frictional unemployment but may contribute to other types of unemployment, such as structural unemployment.
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If you knew nothing about your data except that it is a scale variable, which measure of central tendency would be the "safest bet"?
Answers
Answer:
Median
Explanation:
The scale variable refers to a variable in which it could be measured and contains a numerical value
In case when you dont know about the data except for scale variable so the safest bet for measuring the central tendancy should be median as it derives the mid-value of the given set of numbers
So here the median should be considered
Predict the number of computers with defects in a shipment of 15,000 computers. Round your answer to the nearest whole number.
Answers
For the provided experiments, there may be 113 faulty items discovered.
Probability is an area of mathematics that deals with numerical representations of how probable an event is really to occur or how likely a statement is to be true. The probability of an occurrence is just a number between 0 - 1, where 0 denotes the event's impossibility and 1 represents certainty. The greater the likelihood of an occurrence, the more probable it will occur. Tossing a fair (unbiased) coin is a basic example.
In everyday life, probability theory is used in risk assessment and modelling. Actuarial science is used by the insurance sector and markets to calculate pricing & make trading choices. Environmental control, entitlement analysis, & financial regulation all use probability methodologies.
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4. A company that uses departmentalization groups jobs under the authority of one manager for the purposes of planning, coordination, and control.
Answers
That company is using the departmentalization method of organizing its workforce. Departmentalization is the process of grouping jobs based on common tasks or functions that require similar skills, knowledge, and resources.
The purpose of departmentalization is to create a clear structure within an organization, allowing for more efficient planning, coordination, and control of resources. Under departmentalization, jobs are grouped into departments that are headed by a manager who has the authority to plan, coordinate, and control the activities within their department. Each department is responsible for a specific function or task, and employees within the department have similar roles and responsibilities. This allows for more effective communication, collaboration, and specialization within the organization. Common types of departmentalization include functional, product, customer, geographic, and process. Each type of departmentalization has its own advantages and disadvantages, depending on the nature of the organization's business and its goals.
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A student made a table in Excel and enters data in an adjacent cell. What is an advantage of making the table in an Excel worksheet?
Excel automatically adds the data from the adjacent cell to the table.
The user has the option to include the adjacent data in the table.
Adjacent cells can be filtered according to the data in the table.
Table headings are automatically applied to data in the adjacent cell.
Answers
The advantage of making the table in an Excel worksheet is that the adjacent cells can be filtered according to the data in the table.
What is an adjacent cells?In a Spreadsheet, these are cell that is in the same row and adjoins the current cell in a worksheet.
Hence, the advantage of making the table is that the adjacent cells can be filtered according to the data in the table.
Therefore, the Option C is correct.
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List one type of appropriate workplace verbal communication
Answers
Answer:
Explanation:
Call centers are the appropriate workplace verbal communication
your company just received its bank statement, which indicates that the balance is $4,950. the cash balance in your books is, however, $5,250. you know as well that there is an nsf check for $300, which was returned with the bank statement, and which explains the difference. to reconcile the bank statement with the cash balance in your books, you should...
Answers
The difference. is to reconcile the bank statement with the cash balance in your books Reduce the bank statement by $300.
A bank statement is an official summary of all financial transactions made for each bank account that a person or business has with a financial institution within a specific time period. These statements, which are created by the financial institution, are numbered and reflect the time period they cover.
Other details relevant to the type of account, including the sum due by a certain date, may also be included. The commencement date of the next statement period is normally the day after the previous statement period has ended.
The consumer frequently uses bank statements to track cash flow, look for potential fraud, and execute bank reconciliations. Bank statements are significant records that must often be kept for audit and tax purposes.
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which product has become a flashpoint in trade negotiations making it somewhat risky for marketers participating in international trade?
Answers
Marketing professionals involved in international trade should be aware that chicken has become a flashpoint in trade discussions.
What do international marketing and trade mean?Majoring in international commerce and marketing prepares students for management positions in multinational companies that are active in global trade and fashion. Graduates work in marketing internationally, management, licensing, sourcing, and logistics. They also work in compliance, customs, and import/export processes.
What function does marketing serve in the world of trade?For international trade to succeed, marketing is crucial. If a country doesn't advertise its products in the markets it wishes to enter, it won't sell very much! Therefore, the amount of sales a company makes abroad and its success in international marketing are highly correlated.
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The Royal Bafokeng Nation (RBN) has been highly praised as an example of how ethnicity can be mobilized for economic benefits. Despite corporate success, there are still a number of problems that RBN faces. What is one of these issues
Answers
Firms often encounter problems at times. Some of the issues faced by RBN are;
The Issues Faced by RBN are;
Majority of the Bafokeng do not possess electricity.The Bafokeng is known to have a high rate of unemployment rate.The Issues not Faced by RBN are;
The Bafokeng often used their ethnicity to make money.All Bafokeng does have their own shares in RBN.How does ethnicity affect the economy?There are a lot of different ethnic groups in countries. Ethnic diversity, is known to have some negative impact on economic growth such as higher rate of net fertility in the area is used as Human Capital.
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Select the qualification that is best demonstrated in each example.
Ellen is a Stationary Engineer who figures out what is wrong with machinery for heating a building.
Charlene is a Highway Maintenance Worker who stays on task while working by herself.
Floyd is a Repair Worker who lifts heavy objects.
Pedro is a Mechanical Door Repairer who explains a problem to a customer.
Answers
Answer:
Ellen is a Stationary Engineer who figures out what is wrong with machinery for heating a building.
Explanation:
The qualification that is best demonstrated out of all the options would be that Ellen is a Stationary Engineer who figures out what is wrong with machinery for heating a building.
Charlene's ability to stay on task has no direct correlation with being a highway worker.
Floyd's ability to lift heavy objects also has no direct correlation with being a repair worker.
Pedro's ability to explain a problem to a customer has no direct bearing on being a mechanical door repairer.
The only option with direct correlation is a stationary engineer's ability to figure out what is wrong with machinery for heating a building. A stationary engineer is also known as operating or power engineer.
Answer:
Ellen is a Stationary Engineer who figures out what is wrong with machinery for heating a building.
✔ problem-solving skills
Charlene is a Highway Maintenance Worker who stays on task while working by herself.
✔ independence
Floyd is a Repair Worker who lifts heavy objects.
✔ physical strength
Pedro is a Mechanical Door Repairer who explains a problem to a customer.
✔ communication skills
Explanation:
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The first institution to contact if you know you have been an identity theft victim is
Answers
The first institution that should be contacted in the case of identity theft is the Federal Trade Commission (FTC).
Why should you contact the Federal Trade Commission (FTC)?If you have fallen victim to identity fraud, you should call the Federal Trade Commission immediately.
They will then help you report to the relevant law enforcement agencies such as the FBI and local police.
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Question 4 of 20
A marketing plan includes a number of factors, including the marketing mix.
What is the marketing mix?
OA. The variables of product, price, place, and promotion
OB. Using names and symbols to identify the company's products
OC. How the company intends for customers to view its product
relative to the competition
D. A plan for spending money
SUBMIT
Answers
The marketing mix refers to a set of variables or factors that a company can use to influence its customers' perception of its products or services. These variables are commonly known as the four Ps of marketing: product, price, place, and promotion. The correct option is option a.
Product refers to the physical or intangible item that a company is selling. This includes features, design, quality, and branding. Price refers to the amount that a customer must pay to obtain the product. It includes factors such as discounts, pricing strategies, and payment terms. Place refers to the distribution channels that a company uses to deliver its products or services to customers. This includes the location of the stores, the methods of delivery, and the inventory management systems.
Promotion refers to the communication activities that a company uses to promote its products or services. This includes advertising, public relations, personal selling, and sales promotion. The marketing mix is an essential tool for companies to develop and implement their marketing strategies effectively. By understanding the four Ps, a company can tailor its marketing efforts to suit the needs and wants of its target customers. The correct option is a.
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if an unanticipated increase in aggregate demand results in an output above the economy's long-run capacity, long-run equilibrium will eventually be restored by
Answers
The economy's long-run capacity, long-run equilibrium will be eventually restored by an increase in the employment.
What is long-run equilibrium?The long run is a notion in economics where all markets are theoretically in equilibrium and where all prices and quantities have fully adjusted and are in equilibrium. The short-run, in contrast, is characterized by some limitations and a partial state of market equilibrium. More specifically, in microeconomics, there are no fixed factors of production in the long term, and there is adequate time for adjustment to remove any barriers to changing the output level by altering capital stock or by entering or exiting industry. In contrast, in the short run, some components are fixed (paid once), while others are variable, which limits admission into or exit from a market.
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