Reuter has signed a $250,000 note payable with the following terms on May 1,2020 . The note bears interest of 5% and is repayable in equal bi-weekly payments over 5 years. Compute the bi-weekly payment and the amount of interest expense incurred for the 12 months ended April 30, 2021.
Answers
The bi-weekly payment for the $250,000 note payable is $2,403.85. The amount of interest expense incurred for the 12 months ended April 30, 2021, is $750,000.
To compute the bi-weekly payment and the amount of interest expense incurred for the 12 months ended April 30, 2021, we need to calculate the total interest payable over the 5-year period and then divide it by the number of bi-weekly payments.
Step 1: Calculate the total interest payable:
Principal amount = $250,000
Interest rate = 5% per annum
Number of years = 5
Total interest payable = Principal amount * Interest rate * Number of years
= $250,000 * 0.05 * 5
= $62,500
Step 2: Calculate the number of bi-weekly payments in a year:
Since there are 52 weeks in a year, and bi-weekly payments occur every two weeks, the number of bi-weekly payments in a year is 52/2 = 26.
Step 3: Calculate the bi-weekly payment:
Bi-weekly payment = Total interest payable / Number of bi-weekly payments in a year
= $62,500 / 26
= $2,403.85 (rounded to two decimal places)
Step 4: Calculate the interest expense for the 12 months ended April 30, 2021:
Since there are 26 bi-weekly payments in a year, the number of payments for 12 months is 26 * 12 = 312.
Interest expense = Bi-weekly payment * Number of payments for 12 months
= $2,403.85 * 312
= $750,000
Therefore, the bi-weekly payment is $2,403.85, and the amount of interest expense incurred for the 12 months ended April 30, 2021, is $750,000.
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Related Questions
What are the remedial measures of unemployment in nepal?explain
Answers
_______are independent businesses that do not own the products they sell. They act as intermediaries to brinna
buyers and sellers together
Agents and brokers
Wholesalers
Retailers
Final consumers
Answers
Answer:
Agents and brokers
Explanation:
Agents and brokers connect buyers and sellers. They are contracted by either sellers or buyers to help them increase sales or find items to buy. Agents and brokers act on behalf of their clients.
Wholesalers and retailers take ownership of the goods they sell. They first buy the goods, which gives them title to the goods before selling to retailers or consumers. Agent and brokers do not buy goods. They look for buyers or sellers for their clients' merchandise.
Which nation has a communist command economy?NorwayNorth KoreaSouth Koreathe United States
Answers
north korea has a dictator and go og le says it’s a command economy, i think this is the best answer
south korea is mixed economy
united states has capitalistic
Which test assesses someone's knowledge in order to give him or her college credit
A. CLEP
B. A stress test
C. An entrance exam
D. ACCUPLACER
Answers
The test that assesses someone's knowledge in order to give college credit is:
A. CLEP (College-Level Examination Program)
What is CLEPCLEP exams are standardized tests that measure a person's understanding of various college-level subjects. by successfully passing a CLEP exam, individuals can earn college credits that are recognized by many colleges and universities.
These exams are designed to evaluate a persons knowledge in areas such as mathematics, science, social sciences, humanities and more, allowing them to potentially earn credits and skip certain introductory-level courses in college.
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true or false losing inventory for the year ended 31 August 2018 will be closing inventory for the year ended 31 August 2019
Answers
true because they closed
Calculate the FV for the following 3 scenarios. Investment scenario #1:
You invest $1,000 (PV) for 10 years (n) at an interest rate of 5% (r). What is the amount you would receive at
the end of 10 years (FV)?
Investment scenario #2:
You invest $5,000 (PV) for 20 years (n) at an interest rate of 8% (r). What is the amount you would receive at
the end of 20 years (FV)?
Investment scenario #3:
You invest $10,000 (PV) for 30 years (n) at an interest rate of 12% (r). What is the amount you would receive
at the end of 30 years (FV)?
PLEASE ANSWER WITH WORK SHOWN :)
Answers
Answer:
?
Explanation:
Answer:
$2191.12
Explanation:
We are asked to find the value of a bond after 10 years, if you invest $1000 in a savings bond that pays 4% interest, compounded semi-annually.
FV=C_0\times (1+r)^n, where,
C_0=\text{Initial amount},
r = Rate of return in decimal form.
n = Number of periods.
Since interest is compounded semi-annually, so 'n' will be 2 times 10 that is 20.
4\%=\frac{4}{100}=0.04
FV=\$1,000\times (1+0.04)^{20}
FV=\$1,000\times (1.04)^{20}
FV=\$1,000\times 2.1911231430334194
FV=\$2191.1231430334194
FV\approx \$2191.12
Therefore, the bond would be $2191.12 worth in 10 years.
ou take $150 you had kept under your mattress and deposit it in your bank account. suppose this $150 stays in the banking system as reserves and banks hold reserves equal to 12.5 percent of deposits.
Answers
The money supply grows by $131.25 while the total quantity of deposits in the banking system rises by $18.75.
What are Bank reserves?The minimal amount of cash that financial institutions must keep on hand in order to comply with central bank standards is known as bank reserves. The bank must store this actual paper money in a vault on the property or in an account with the national bank.Bank reserves are crucial because banks earn interest by lending money to the general public rather than keeping it in a Federal Reserve bank. Banks might be tempted to make riskier loans if they don't have held reserves. On a bank's annual report, reserves are viewed as an asset.So, the amount that the bank will keep in reserve is:
150/100 * 12.5
1.5 * 12.5
$18.75
Money that will increase the money supply: 150 - 18.75 = $131.25
Therefore, the money supply grows by $131.25 while the total quantity of deposits in the banking system rises by $18.75.
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Correct question:
Suppose you take the $150 you had kept under your mattress and deposit it in your bank account. suppose this $150 stays in the banking system as reserves and banks hold reserves equal to 12.5 percent of deposits.
The total amount of deposits in the banking system increases by ____ and the money supply increases by ____.
Garcia Co. Sells snowboards. Each snowboard requires direct materials of $112, direct labor of $42, and variable overhead of $57. The company expects fixed overhead costs of $659,000 and fixed selling and administrative costs of $125,000 for the next year. It expects to produce and sell 11,200 snowboards in the next year. What will be the selling price per unit if Garcia uses a markup of 10% of total cost
Answers
Garcia Co. should sell each snowboard for $308.02 to achieve a 10% markup on the total cost per unit.
To calculate the selling price per unit, we need to determine the total cost per unit and then apply the markup of 10%.
First, let's calculate the total cost per unit:
Direct materials per unit = $112
Direct labor per unit = $42
Variable overhead per unit = $57
Fixed overhead per unit = ($659,000 ÷ 11,200 units) = $58.77
Fixed selling and administrative costs per unit = ($125,000 ÷ 11,200 units) = $11.16
Total cost per unit = Direct materials + Direct labor + Variable overhead + Fixed overhead + Fixed selling and administrative costs
Total cost per unit = $112 + $42 + $57 + $58.77 + $11.16
Total cost per unit = $280.93
Now, we can apply the markup of 10% to the total cost per unit to get the selling price per unit:
Markup price per unit = Total cost per unit x Markup percentage
Markup price per unit = $280.93 x 1.1
Markup price per unit = $308.02
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Under an economic union, members would harmonize all of these EXCEPT Select one: a. the judicial system. O b. taxation. O C. government spending. d. the currency system. O e. monetary policies.
Answers
Under an economic union, members harmonize all of these EXCEPT the judicial system. The correct answer is option (a).
Harmonizing the judicial system is often a complex and sensitive issue as it involves legal frameworks, traditions, and sovereignty of individual member states. While economic unions may aim to establish common rules and regulations regarding economic activities, legal systems and judicial processes tend to be distinct and specific to each country. Hence, option (a) is the correct answer.
It is more common for economic unions to focus on harmonizing areas such as taxation (b), government spending (c), the currency system (d), and monetary policies (e). These areas are crucial for ensuring economic stability, facilitating trade and investments, and fostering monetary cooperation within the economic union. However, harmonizing the judicial system typically falls under the purview of national sovereignty and is not a standard feature of economic unions.
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Managing diversity is more than hiring women and minorities; it is complex and involves which of the following? (Choose every correct answer.)
Valuing employee differences to build an effective organization
Recognizing the characteristics common to specific groups of employees
Managing a culturally diverse workforce
Answers
Managing diversity involves valuing employee differences to build an effective organization, recognizing characteristics common to specific groups of employees, and managing a culturally diverse workforce.
To manage diversity effectively, it's essential to appreciate and value the unique traits each employee brings to the workplace. This helps create an inclusive environment that fosters collaboration and productivity.
Recognizing characteristics common to specific groups allows for better understanding and communication within the organization.
Managing a culturally diverse workforce requires being aware of and addressing cultural differences and needs, promoting open dialogue, and offering support and training to facilitate better understanding among employees. These efforts contribute to a more cohesive and successful organization.
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Which of these is the best example of an asset?
the electricity in a home
the antique diamond necklace someone is wearing
the coffee someone drank this morning
an old, used airline ticket
Answers
Answer:
Antique diamond someone is wearing
Explanation:
Electrity is an expense it runs out and you have to keep paying in order to use it...the same goes for coffee.
But the used airline ticket has no value anymore as its been used up. So the antique diamond is an asset as it carries value and you don't have to pay to wear it...you can also exchange it for cash proving that it does have value
which argument says that stakeholder management realistically depicts how companies really work?
Answers
The argument that says that stakeholder management realistically depicts how companies really work is a descriptive argument. Option A.
A descriptive argument is one that describes how something works in reality.
The argument that stakeholder management realistically depicts how companies work is an example of a descriptive argument.
Stakeholder management is an approach that recognizes the importance of stakeholders in a company's success.
It focuses on engaging with stakeholders, understanding their needs, and managing their expectations and relationships with the company.
This approach ensures that all stakeholders have a voice in the company's decision-making process and have their interests taken into account. It is hence a descriptive argument.
It also allows companies to better manage their resources and ensure that all stakeholders are satisfied with the company's performance and outcomes.
Although a part of your question is missing, you might be referring to this question:
Which argument says that stakeholder management realistically depicts how companies really work?
a. Descriptive argument.
b. Instrumental argument.
c. Normative argument.
d. Fiduciary argument.
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Clearwater Hampers is a small British company that sells luxury food and drink in various combinations in picnic hampers. Food and wine are seen as classic, fail-safe gifts in a market where present-buying is increasingly tricky. Corporate customers, both in the United Kingdom and abroad, are important to the business. Clearwater has had several orders for more than a quarter of a million dollars. The company's leading salesperson, Peter Austin, is preparing the approach he will use during his first sales call with the CEO of Diamonite, a company that specializes in designing, manufacturing, and installing aircraft interiors for executives and heads of state.
Austin would use creative imagery to: __________
a. develop dramatic visual aids.
b. encourage two-way communication.
c. cope with pre-call stress.
d. establish seller empathy.
e. create synergy with the prospect.
Answers
Austin would use creative imagery to cope with pre-call stress.
Imaginary is a term that refers to thoughts that only exist in the imagination. Imagination is the process that allows the human to manipulate information generated internally in the brain to create a representation in the mind.
Imagination is related to creativity, that is, creating new ideas on any subject. Okay so Austin is using creative images to organize his ideas and express himself well with the Diamonite CEO.
According to the above, the correct answer is C. Cope with pre-call stress.
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edward has a job that does not pay well but is personally meaningful. lisa, on the other hand, has a job that pays well but that bores her. what would the research on motivation predict?
Answers
Edward will be more joyful and perform better since he has high characteristic inspiration would the examination on inspiration foresee.
A kind of market research called motivational research tries to find out what really drives, wants, and needs people. Observation, in-depth interviews, and focus groups are all common methods for studying motivation.
Observation, focus groups, and depth interviews are the three most common methods of motivational research. Hypotheses about human motivations can be derived from observation in a productive manner. This method was first developed by anthropologists.
Motivation is a psychological phenomenon that comes from within an individual. A person experiences a lack of certain needs, which he perceives as necessitating more work. A person is motivated to perform better than he normally does by the need-satisfying ego.
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Click this link to view O*NET's Tasks section for Postal Service Mail Carriers. Note that common tasks are listed
toward the top, and less common tasks are listed toward the bottom. According to O*NET, what are some common
tasks performed by Postal Service Mail Carriers? Check all that apply.
installing mailboxes
O obtaining signed receipts for mail
sorting mail
delivering mail
O supervising other mail workers
reviewing job applicants
Done
Answers
Answer:
1. obtaining signed receipts for mail
2. sorting mail
3. delivering mail
Explanation:
Postal Service Mail Carrier's main responsibility is to deliver mail to their intended receipts. The Postal Service mail carriers are the last people in the mail distribution channel. They are the people who get mail to the receipts and have them sign for it.
The Postal service mail carriers will be issued with mail, usually for a particular route. They will sort to identify the address where each mail is to be delivered. Upon arriving at the correct address, the postal service mail carrier will hand over the mail to the recipient and have them sign as an acknowledgment of receipt.
Answer:
AEF
Explanation:
Matt is the curator at a large national museum. He researches and catalogs new art pieces that are submitted to the museum. What education might have been necessary for Matt to attain this position? O A. O B. O C. O D. high school diploma associate degree in performing arts bachelor's degree in art history doctorate in computer sciences
Answers
The best education for Matt to attain the position of curator at a large national museum is an Option C. bachelor's degree in art history.
A curator is a person who is in charge of the collection and display of artifacts in a museum. Curators are responsible for organizing exhibits, acquiring new collections, and keeping the existing ones in good shape, among other duties. The work of a curator demands a high degree of knowledge of the materials they handle, in addition to organizational skills and the ability to engage with the public.
Curators must typically hold a bachelor's degree in a field related to the collection they oversee. Art history, anthropology, or archaeology are popular majors for curators. Additionally, they should have experience in their particular field of expertise. Furthermore, many museums will require their curators to have a Master's degree or Ph.D. in their field or a related one. These degrees are obtained in specialized postgraduate degree programs, and they demonstrate a deeper understanding of the subject matter and a commitment to the field.
The education for Matt to attain this position would be a bachelor's degree in art history. Art history is the study of visual art throughout history. It is an academic discipline that combines cultural and historical perspectives to examine and understand visual art. In this field, you will learn about artists and their works, styles and movements, and the cultural contexts that surrounded them. This knowledge is critical to the work of curating art collections, and it will enable Matt to be efficient in his job. Therefore, the correct option is C.
The question was incomplete, Find the full content below:
Matt is the curator at a large national museum. He researches and catalogs new art pieces that are submitted to the museum. What education might have been necessary for Matt to attain this position?
A. high school diploma
B. associate degree in performing arts
C. bachelor's degree in art history
D. doctorate in computer sciences
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The break-even point in sales dollars may be computed as:
A. total contribution margin divided by the unit contribution margin per unit
B. fixed costs divided by the difference in unit price and unit variable costs
C. the difference between total contribution margin and operating profit divided by the contribution margin ratio
D. fixed costs divided by contribution margin per unit
Answers
The break-even point in sales dollars may be computed as: D. Fixed costs divided by contribution margin per unit.
What is Break-even point?The break-even point is where the companies are successful in recovering their Cost. After this point, the additional unit of sales of the product or service gives the company a profit.
Total Revenue = Total Cost
The formula to Calculate the Break-even point is:
Break even point = Fixed cost/ contribution margin per unit
Therefore, correct option is D. Fixed costs divided by contribution margin per unit.
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I will give the right answer brainliest. Choose the option that best matches the description given.
_____ try to influence legislation and help human services organizations to achieve their goals.
1. Legislative aides
2. Lobbyists
3. Lawyers
Answers
Answer:
2. Lobbyists
Explanation:
A lobbyist is any individual or a group of individuals who communicates directly or indirectly with others to influence or attempt to influence the drafting, debate, vote, approval, or introduction of some legislation. In this context, a lobbyist may be a legislator trying to influence fellow legislators or any person who communicates with a legislator to advocate and promote the desires of human services organizations.
Answer:
Lobbyists
Explanation:
1. Describe how SaksFirst builds loyalty for Saks Fifth Avenue.
Answers
SaksFirst built loyalty for Saks Fifth Avenue by broadening its reach and offering more benefits like:
free membership for cardholders without minimum spending earning points toward SaksFirst card with first purchases and free shipping from Saks stores.How do brands build loyalty?Customers only continue to buy or patronize a brand if they feel they can trust the company, this is brand loyalty. Loyalty can be achieved through engaging customers, being reliable, keeping the price reasonable and incentives.
In the case of SaksFirst, they built loyalty by offering free memberships to Saks Fifth avenue customers, giving points for first card purchase and free shipping.
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Amanda's mortgage is repaid over 24 years by payments of $958.26 made at the beginning of each month. If interest is 3% monthly, what is the mortgage principal? Enter your answer to the nearest dollar. Do not enter the $ sign. Sample input: 248977
Answers
The mortgage principal is approximately $197,253. The calculation is based on a 24-year repayment period with monthly payments of $958.26 and an interest rate of 3% per month.
To find the mortgage principal, we can use the formula for the present value of an ordinary annuity:Mortgage Principal = Payment Amount * ((1 - (1 + interest rate)^(-number of payments)) / interest rate)In this case, the payment amount is $958.26, the interest rate is 3% per month (0.03), and the number of payments is 24 years * 12 months = 288 payments.Plugging these values into the formula:Mortgage Principal = $958.26 * ((1 - (1 + 0.03)^(-288)) / 0.03)Calculating this equation yields approximately $197,253.
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Explain why the credit industry wants you to believe that you need a credit score
Answers
Answer:
Because the credit industry gains a profit from it's users. Credit is a tool, and if used wisely can be beneficial for many people who don't have enough cash to pay for things. Having "good" credit score means that it's easier for you to receive a loan.
Let understand that Credit score refers the score which tells about a consumer's creditworthiness.
In practice, the higher the credit score of an individual, the higher the rate of repayment of credit gotten.
The Credit scoring is used the lenders to help them decide whether to borrow, extend or deny credit.
Therefore, the credit industry wants one to believe you need credit score because its helps them to ascertain your creditworthiness.
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what statement regarding the use of load balancers on a network is not accurate?
Answers
In order to maximise performance and guarantee high availability, load balancers are crucial network components that divide incoming network traffic among numerous servers. Every claim made concerning load balancers is true.
By equally distributing incoming network traffic among several servers or resources, load balancers play a critical part in network infrastructure. This distribution improves resource utilisation, increases network availability, and prevents any single server from becoming overloaded.
Different methods are used by load balancers to decide how traffic is distributed. These algorithms ensure a fair distribution of incoming requests by taking into account variables including server capacity, response time, and current server load. Load balancers reduce the chance of outage or performance degradation by effectively dispersing the traffic, preventing any one server from becoming overloaded.
By enabling failover and redundancy, load balancers also offer high availability. if one server malfunctions or becomes unreachable.
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What is moral myopia? Why do you think an advertising professional might experience this phenomenon?
Answers
Answer: See Explanation
Explanation:
Moral myopia occurs when someone is unable to clearly see ethical issues. In this case, people decide not to say anything even though they see the unethical behavior of others.
An advertising professional might experience moral myopia in the sense that such person looks away when he or she sees an unethical act because of fear of losing his or her job and also because of fear of losing a customer.
Business 2: After apprenticing for another candy maker, I started my first candy business at age 18.
Unfortunately, my first attempt at starting a business (as well as my second) was a failure. After a rocky start,
my third try was more successful - I have just received a fortune from the sale of my caramel business. During
my world travels, I discovered new equipment that makes chocolate and decided to buy it. Today, only the
wealthy can afford chocolate. With this new technology, I think I can make a chocolate that everyone can
afford. In my mid-thirties, I know very little about making chocolate but I am willing to take the time to learn. I
want my life to center on inventing new candies, building this new business, and laying out a new community
that will be a wonderful place for the people I hire to live. I prefer to leave day-to-day operations of the
company–handling production, sales, marketing and distribution—to someone else
Answers
Answer:
The question is incomplete since the requirements are missing, so I looked for similar questions and found that you should advice this client either to form a sole proprietorship, partnership or corporation.
Since this client wants to focus solely on inventing new candies, he would be better off by forming a corporation. That way, he and other stockholders can elect a board of directors which will appoint an appropriate upper management team to run the business.
The other two types of businesses, sole proprietorships and partnerships require that the owners actively participate in managing the business, and that is something that the client wants to avoid. This happens because sole proprietors and partners are personally liable for all the business obligations. On the other hand, corporations are managed by a professional team.
Prisons with specific and unique goals are called:
minimum security prisons.
contract facilities.
administrative prisons.
Answers
Prisons with specific and unique goals are called:administrative prisons. Option C
Administrative prisons are correctional facilities that have specific and unique goals. Unlike minimum security prisons or contract facilities, administrative prisons are designed to serve a particular purpose or target a specific population.
Administrative prisons can include various types of facilities, such as:
Supermax Prisons: These are high-security prisons that are specifically designed to house the most dangerous and violent offenders. They aim to maximize control and minimize the risk of escape or harm to staff and other inmates.
Juvenile Rehabilitation Centers: These facilities focus on the rehabilitation and treatment of juvenile offenders. They provide educational and counseling programs to help young offenders reintegrate into society and reduce their risk of reoffending.
Mental Health Facilities: Some prisons have specialized units or entire facilities dedicated to providing mental health treatment and support for inmates with mental illnesses. These facilities aim to address the unique needs of individuals with mental health conditions and provide appropriate care.
Drug Treatment Centers: These prisons offer comprehensive drug treatment programs to inmates struggling with substance abuse. The focus is on rehabilitation, providing counseling, therapy, and support to help individuals overcome addiction and develop the necessary skills for a drug-free life.
Women's Prisons: These facilities are specifically designed to address the unique needs and challenges faced by female offenders. They provide gender-specific programs and services to address issues such as trauma, parenting, and healthcare for women in the criminal justice system. Option C
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As a sole proprietor, what are the ways in which you can raise money to establish your business, and make it grow?
Answers
Answer:
Take out a small business loan.
Explanation:
A small loan is a way, based on your credit, to establish a way to raise money.
Unemployment that arises as a result of the time it takes for unemployed people to locate a job utilizing their transferable skills is called __________ unemployment.
Answers
Unemployment that arises as a result of the time it takes for unemployed people to locate a job utilizing their transferable skills is called \(\sf\purple{frictional}\) unemployment.
\(\circ \: \: { \underline{ \boxed{ \sf{ \color{green}{Happy\:learning.}}}}}∘\)
Unemployment that arises as a result of the time it takes for unemployed people to locate a job utilizing their transferable skills is called friction unemployment.
What is friction unemployment?Short-term unemployment includes frictional unemployment. When someone actively seeks a job or a new career, they are said to be in a frictional state of unemployment. Unemployment that is only intermittent isn't always a terrible thing. In fact, since it's voluntary, frictional unemployment may be a sign of a strong economy.
If an individual leaves their work voluntarily or is dismissed, they are considered to be frictionally unemployed. People who are just entering the workforce and looking for their first job would also be considered to be frictionally unemployed,
Frictional unemployment, which has nothing to do with the economic cycle and is voluntary, entails people changing occupations. A downturn in a sector or a change in technology are only two examples of how changes in the economy can directly cause structural unemployment.
Thus, friction unemployment.
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an employee can be dismissed if their job surplus to requirements' outline why this state ment is false
Answers
how much water is in a water melon plz use percentage. here is 10 points
Answers
answer:
92 percent
explanation:
watermelon contains 92 percent water and 6 percent sugar
The Aluminum Company of America (Alcoa) has faced limited competition in the market for aluminum. What barrier has kept new firms from entering the market for aluminum? The Aluminum Company of America (Alcoa) A. has had lower long-run average costs than competitors. B. has had a patent on aluminum C. has had almost exclusive ownership of bauxite, which is a key input. D. has been able to convince customers that its brand of aluminum has extra value. E. has enjoyed economies of scope from producing multiple types of products.
Answers
The barrier that has kept new firms from entering the market for aluminum and limited competition for Alcoa is that they have almost exclusive ownership of bauxite, which is a key input in the production of aluminum.
This has made it difficult for new firms to enter the market and compete with Alcoa, as they would face higher costs for obtaining the necessary inputs. While Alcoa may also have lower long-run average costs and economies of scope from producing multiple types of products, the ownership of bauxite is the primary barrier to entry in the aluminum market.
The barrier that has kept new firms from entering the market for aluminum and allowed The Aluminum Company of America (Alcoa) to face limited competition is C. Alcoa has had almost exclusive ownership of bauxite, which is a key input in the production of aluminum. This has made it difficult for potential competitors to enter the market and compete effectively with Alcoa.
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The barrier that has kept new firms from entering the market for aluminum, where the Aluminum Company of America (Alcoa) has faced limited competition, is the almost exclusive ownership of bauxite. Option C
Bauxite is the primary source of aluminum, and Alcoa has been able to secure a significant portion of the world's bauxite reserves. This has given them an advantage over competitors because they can produce aluminum at a lower cost, which is essential in a commodity market like aluminum.
Having access to a significant portion of the world's bauxite reserves allows Alcoa to achieve economies of scale, which is crucial in a commodity market. This allows them to produce large quantities of aluminum at a lower cost per unit than their competitors. As a result, new firms have found it challenging to enter the market and compete with Alcoa, given the high entry costs.
Furthermore, Alcoa has also enjoyed economies of scope from producing multiple types of products, which has allowed them to spread their fixed costs over a broad range of products, further lowering their long-run average costs. This has made it challenging for new firms to compete with them, given their cost advantage.
In conclusion, the almost exclusive ownership of bauxite, which is a key input, has been the primary barrier that has kept new firms from entering the market for aluminum, where Alcoa has faced limited competition. The ownership of bauxite has allowed Alcoa to achieve economies of scale and scope, which has given them a cost advantage over their competitors, making it challenging for new firms to compete in the market.Therefore option C is correct.
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