The source of this firm's market power comes from product differentiation due to its technologically superior unique good.
This differentiation allows the firm to have a competitive advantage over other similar products in the market, leading to increased demand and potentially higher prices for their product.
Technological superiority is a particularly effective source of product differentiation. If a firm has access to advanced technology that allows it to develop a product with superior performance, functionality, or efficiency, it can create a competitive advantage over its competitors.
This advantage can be leveraged to capture a larger market share and potentially charge higher prices for the product, leading to increased profitability.
Having a unique and technologically superior product can also help a firm establish brand loyalty among customers. When customers perceive a product to be unique and superior, they may develop a preference for the brand associated with that product.
This can result in repeat purchases, increased customer loyalty, and positive word-of-mouth, which can further enhance the firm's market power and competitive advantage.
It's important to note that sustaining a competitive advantage based on product differentiation requires continuous innovation and investment in research and development to maintain the technological superiority of the product.
Competitors may try to imitate or replicate the unique features of the product, which can erode the firm's competitive advantage over time. Therefore, firms need to continually invest in technology, research, and development to stay ahead in the market and maintain their market power.
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What is the main difference between a market and a command economy?
Answer:
Market economies utilize private ownership as the means of production and voluntary exchanges/contracts. In a command economy, governments own the factors of production such as land, capital, and resources. Most nations operate largely as a command or market economy but all include aspects of the other.
what are you all doing for hoolween this year?
Answer: I’m having a Halloween party with my parents and family because you know ya girl ain’t trying to get sick
Explanation:
Prompt What is an economy?
Answer:
An economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated.
Which of the following BEST represents democratic values?
a) the power to rule
b) equality among people
c) freedom to travel
d) the right to free books
can some one plss help me???
Answer:
B
Equality among all the people
____ share of the world economy has been rising, while ______ share has been falling.
Asia's share of the world economy has been rising, while Europe's share has been falling.
Over the past few decades, Asia has experienced significant economic growth, resulting in an increase in its share of the world economy. This growth can be attributed to rapid industrialization, an expanding workforce, and increasing foreign direct investment. In contrast, Europe's share of the world economy has been falling due to slower economic growth, an aging population, and challenges from globalization.
The shift in economic power is evident in the increasing prominence of emerging markets like China and India, which have become major players in global trade and investment. As a result, policymakers in Europe are faced with the challenge of stimulating economic growth and competitiveness to maintain their global economic standing. Overall, the changing dynamics of the world economy have led to a rise in Asia's share and a decline in Europe's share.
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Please help!
Questions below!
1. Players in Game B would likely rate their game as more fair than Game A, since the starting wealth and salaries are more evenly distributed.
What is Game?Game is a form of activity that involves competing for entertainment, often with a set of rules and goals. It is usually thought of as an activity involving physical or mental skill. Games are often used as a form of entertainment, as well as a way to learn or practice skills, often in a competitive environment. Examples of popular games include board games, card games, dice games, outdoor sports, computer and video games, and many more.
2. The middle class players would likely rate the game as most fair since they have the highest salary and the most balanced starting wealth in both games.
3. The upper class players are likely to cheat the most since they have the most wealth and the highest salaries in both games.
4. Game B gives players the most opportunity for success since the starting wealth and salaries are more evenly distributed, giving everyone a better chance at success.
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Are there cooperatives in the Maldives? justify your answer
This Act outlines the procedures for forming, registering, and running cooperative societies in the Maldives. The Registrar of Co-operative Societies must be designated by the government. The text defines the Registrar's authority and obligations.
What do we mean by cooperative societies?A group of people who voluntarily band together for the good of their fellow members is known as a cooperative society. They are driven by the need to protect their economic interests against intermediaries who may try to take advantage of them in order to boost their earnings.
What function does a democratic society have?1) They desire to provide goods and services to others. 2) They seek to eliminate middlemen's fruitless gains in commerce and business. They seek to stop the exploitation of the weaker members of society. 4) They strive to protect people's rights, both as producers and consumers.
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Monopolistically competitive markets and perfectly competitive markets share some similarities but differ in a number of ways. One
such difference between the two is that monopolistically competitive firms (1 point)
Answer:
feature differentiated products
Explaination:
i just took the quiz
Answer: feature differentiated products
Explanation:
Which of the following describes what is identified by a supply schedule?
a How much suppliers will profit at various prices
b How much consumers will save at various supply levels
c How much suppliers will raise prices as production varies
d How much of a product suppliers will produce at various prices
What is identified in a supply schedule is how much of a product suppliers will produce at various prices (option D).
What is a supply schedule?A supply schedule is a table that shows the price and quantity supplied of suppliers. It shows the total number of goods that would be supplied at various prices.
There is a positive relationship between price and the quantity supplied. This is because as price increases, there would be an increase in the quantity supplied. When price declines, there would be a decrease in the quantity supplied. This explains why the supply curve is positively sloped.
The supply schedule can be an individual schedule or a market schedule. When its an individual schedule, it contains information on only one supplier. If it is a market schedule, it aggregates the information of all the suppliers in the market.
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a company had interest income of $5,000 during a year in which interest receivable declined from $800 to $300. how much is cash received from interest in the operating activities section of the statement of cash flows for the year?
The cash received from an interest in the operating activities section of the statement of cash flows for the year is $4,500.
The detailed answer is as follows:
The company had an interest income of $5,000 during the year. However, the interest receivable declined from $800 to $300. This means that the company received $500 less in interest payments than it had expected to receive at the beginning of the year.
To calculate the cash received from an interest in the operating activities section of the statement of cash flows, we need to adjust the interest income for the change in interest receivable.
The adjustment is calculated as follows:
Beginning Interest Receivable - Ending Interest Receivable = Change in Interest Receivable
$800 - $300 = $500
So, the cash received from interest is calculated as follows:
Interest Income - Change in Interest Receivable = Cash Received from Interest
$5,000 - $500 = $4,500
Therefore, the company received $4,500 in cash from interest in the operating activities section of the statement of cash flows for the year.
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The data on price and quantity purchased relating to a commodity for 10 months are given
below:Calculate coefficient of correlation between price and quantity.
Price and number of goods purchased are inversely correlated. Consequently, price rises as quantity rises.
What is data on price ?Pricing Data is accurate information on the costs of goods that are strikingly comparable to those being purchased. Prices are used interchangeably in this definition to refer to actual selling prices as well as suggested or prospective selling prices. Data pertinent to both primary and subcontract prices are referred to in the definition. Data may consist of specific costs, weights, addresses, names, ages, temperatures, dates, or distances, for instance. Data is a basic type of knowledge and has no meaning or use by itself. In other words, facts must be interpreted in order to have any significance. A pricing list again for new term has been sent by the Contractor to authorized buyers.
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A realty company looks at a recent sample of houses that have sold. On testing the null hypothesis that 56% of the houses take more than three months to sell against the hypothesis that more than 56% of the houses take more than three months to sell against the hypothesis that more than .014. Which answer is appropriate?
A. There is a 1.4% chance the null hypothesis is correct.
B. There is a 1.4% chance that 56% of the houses take more than 3 months to sell.
C. If 56% of the houses take more than three months to sell, there is 1.4% chance that a random sample proportion would be as high as or higher than the one they obtained.
D. There is a 96.8% chance that 56% of the houses take more than 3 months to sell.
The correct response is C. If 56% of the houses take more than three months to sell, there is 1.4% chance that a random sample proportion would be as high as or higher than the one they obtained.
Numerous challenges in daily life can be solved with proportion, including those in business when handling transactions or in the kitchen, among other situations. It creates a connection between two or more values, making it easier to compare them. In the actual world, ratios and proportions are used by individuals in a variety of settings and contexts. To manage finances and shop, one uses ratios and proportions. Additionally, they are employed in value comparison. When two variables' ratios are equivalent, proportional relationships between them emerge. Another way to consider them is that in a proportionate relationship, one variable is consistently equal to the other's constant value.
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roberta, a customer service manager, tracks monthly complaints and has been trying over the past six months to reduce complaints to less than 0.2 percent through additional training for her staff. she is engaged in:
Controlling is done in management sonas to ensure that things or activities are in order. Roberta is engaged in Controlling.
Controlling in management describe the act of helping to seek planned results from the subordinates, managers at a firm.The controlling function helps one to know the progress that has being made in achieving the organizational goals and brings any deviations. it also indicate or show corrective action.
Conclusively, the Control managers or personnel to check errors in order to take corrective actions.
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What is the future value of $25,000 invested for 10 years with a rate of return of 8%?
Answer:
6% on an investment that will return $450,000
Explanation:
A regional group of countries with a common external tariff, no internal tariffs, and coordinated laws to facilitate exchange among members is the definition of:
The European Union serves as a regional group of countries with a common external tariff, no internal tariffs, with coordinated laws.
What is European Union all about?European Union can be described as an international organization with 27 European countries as well as governing common economic, social goal.
They do facilitate exchange of ideas among members.
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cost flow is in the reverse order in which costs were incurred when using
Answer:
last-in, first-out, or LIFO.
Putting a celebrity in an ad to increase desire for a product and move consumers toward a purchase is part of what multi-stage promotional model
Integrated Marketing Communication (IMC) corresponds to a promotion strategy whose objective is to increase the desire for a product and lead consumers to a purchase, such as placing a celebrity in an advertisement.
How is Integrated Marketing Communication carried out?The company seeks to consistently promote a message to create value and desire for a product or service through the use of different elements for promotion, such as multiple marketing channels and celebrity endorsements.
Therefore, Integrated Marketing Communication helps the company to build more persuasive and consistent marketing campaigns.
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How frequently is a firm required to notify customers regarding how to access brokercheck®?
Annually, a firm is required to notify customers regarding how to access BrokerCheck®.
FINRA member firms are required to annually give each of their clients the phone number and website address for BrokerCheck in writing, in accordance with FINRA Rule 2267 (Investor Education and Protection). Additionally, they must yearly notify their clients of the availability of an investor brochure that contains detailed information about BrokerCheck.
What is FINRA or Financial Industry Regulatory Authority's BrokerCheck? It is a free online resource for researching brokers, investment companies, and financial advisors. Investors can find a wide range of information that may be useful in the selection and vetting of a specific financial advice provider or brokerage firm.
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the process of creating a profile of your ideal customer for the purposes of developing a marketing strategy is known as what?
The creation of a buyer persona is the process of constructing a profile of your ideal client for the purposes of designing a marketing plan.
A buyer persona is the research-based profile of a target consumer. Buyer personas describe the traits of your ideal customers, including their everyday activities, issues they face, and methods of decision-making. Buyer personas enhance your inbound marketing strategies. The sales procedure has been simplified. They can also improve the assistance for both goods and customers. This guide walks you through creating buyer personas and shows you exactly how to create your own personas for use in inbound marketing campaigns. The ideal client is portrayed by a buyer persona. It is a semi-fictional representation of your ideal customer that is based on market research and real information about your current customers. A marketing persona, customer persona, or audience persona are other names for it.
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Why is it a good idea to invest in both bonds and stocks?
Answer:
Diversifying your account by investing in both stocks and bonds provides protection because you can offset some, or all, of your losses in one investment with the gains in the other investment.
A perceived or real incompatibility of goals, values, expectations, or processes between two or more interdependent parties is known as
The incompatibility of goals, values, and expectations between two individuals or groups which are interdependent on each other is known as conflict.
What is interdependence?Interdependence is the characteristic of an individual or group where one is dependent on the other. This could be seen in one's family where children are interdependent on their parents.
Conflict arises between two parties when one party is against the other party or when the aims, values, and expectations of one person don't match or clashed with the other person. It could generally be observed in those parties which are interdependent on one another.
Therefore, conflict happens between interdependent parties when the goals, values, and expectations are different.
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What are the two types of products that
are derived from the stages of
agriculture?
A. food and non-food
B. food and fiber
C. meats and vegetables
D. meats and grains
Yasmine’s boss is very unpredictable. Somedays he is completely open to new ideas and encourages everyone to participate. Other times, he completely shuts down and yells at anyone who tries to offer any new ideas. Which part of Goldberg’s OCEAN model does this BEST demonstrate?
A.
neuroticism
B.
conscientiousness
C.
extroversion
D.
agreeableness
The part of Goldberg’s OCEAN model does this best demonstrate this personality trait is Agreeableness
Agreeableness is a type of personality trait that includes attributes such as trust, altruism, kindness, etc.Individuals who are high in agreeableness tend to be more cooperative with other people and when they are low in this trait, they become more competitive, rude, do not care about how other people feel, insults and belittles others etc.Agreeableness personality attributes are trustworthiness, kindness and when people with this trait are in their low state, they tend to be rude and harsh.
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9. Consider the following conditions for an item used in the Hess Company's manu process On-hand inventory: Open orders (scheduled receipts): 100 units Backorders Reorder point: Quantity per order: 40 units 60 units 100 units 50 units Which of the following state replenishment? (Show your calculation for partial credit) A) No action is required, since a scheduled receipt is due to be delivered to B) To cover its backorders, Hess should order two lots of 50 units C) Because it is incurring backorders, Hess shou D) Hess should reorder point. ation regarding inventory Hess ld increase its reorder point. place an order for 50 units, since the inventory position is less than the 10. Which of the following is not a benefit of outsourcing? A) comparative labor costs B) lower logistics costs C) reduction of transaction costs through use of the Internet D) technology transfer to another country or company Part 3. Mathematical problems Problem 1 You currently make a part on old equipment at a cost of $50,000 per year and a variable cost of $20/unit. You have found an outside supplier who will make the part for $15/unit if you will pay their annual fixed costs of $200,000/year. The following table summarizes the details of this make versus buy decision. VARIABLE COST $15 per unit $20 per un FIXED COST ALTERNATIVE Bu Make 200,000 per year $50,000 per year What is the break even quantity between buying and making? What does the company save for the year by selecting the low-cost option at an annual requirement of 40,000 units? Problem 2 As an inventory manager, you must decide on the order quantity for an item. Its annual demand is 300 units. Ordering cost is $20 each time an order is placed, and the holding cost is 30 percent of the per-unit price. Your supplier provided the following price schedule. Price per Unit rder Quantity
The inventory position is greater than the reorder point of 100 units, Rounding up to the nearest whole number, the optimal order quantity is 50 units. The correct answer is A) No action is required, since a scheduled receipt is due to be delivered.
Technology transfer to another country or company is not a benefit of outsourcing. While outsourcing can provide benefits such as comparative labor costs, lower logistics costs, and reduction of transaction costs through the use of the Internet, technology transfer can be a potential risk for the outsourcing company.
Problem 1:
The break-even quantity can be calculated as follows:
Make:
Total cost = Fixed cost + Variable cost
Total cost = $50,000 + ($20/unit x Q)
Total cost = $50,000 + $20Q
Buy:
Total cost = Fixed cost + Variable cost
Total cost = $200,000 + ($15/unit x Q)
Total cost = $200,000 + $15Q
To find the break-even quantity, set the total cost of Make equal to the total cost of Buy:
$50,000 + $20Q = $200,000 + $15Q
$5Q = $150,000
Q = 30,000 units
Therefore, the break-even quantity between buying and making is 30,000 units.
The company saves $200,000 - $50,000 - ($15/unit x 40,000 units) = $100,000 per year by selecting the low-cost option at an annual requirement of 40,000 units.
Problem 2:
The optimal order quantity can be calculated using the economic order quantity (EOQ) formula:
EOQ = √[(2DS)/H]
Where:
D = annual demand = 300 units
S = ordering cost = $20
H = holding cost = 30% of per-unit price = 0.3($120) = $36
Substituting the values:
EOQ = √[(2 x 300 x 20)/36] = 49.14 units
Rounding up to the nearest whole number, the optimal order quantity is 50 units.
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Which management function is involved with monitoring performance, comparing it with goals, and taking corrective action as needed?.
Controlling management function is involved with monitoring performance, comparing it with goals, and taking corrective action as needed. Read below about management.
What is Management?Management refers to the process of dealing with or controlling things or people. Management is also the administration of an organization, whether it is a business, a non-profit organization, or a government body. It is the art and science of managing resources of the business.
Therefore, the correct answer is control management.
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ECONOMICS CHAPTER 2 SECTION 3
explain the relationship between the terms in each of these pairs
A. Private property rights and market
B. laissez-faire and capitalism
C. Specialization and profit
D. Factor market and product market
ECONOMICS CHAPTER 2 SECTION 3
Private property rights and market is in which people buy and sell resources or goods and services.
Private property rights are the rights of individuals and groups to own property and the market is any place or situation in which people buy and sell resources and goods and services.
Laissez-faire and capitalism-The relation-ship between laissez-faire and capitalism is laissez-faire is an economic philosophy of free-market capitalism that opposes government intervention.
Specialization and profit- The relation-ship between specialization and profit is the companies specialize in making one product or one component of a product, if this product will make at large scale, companies reduces it's cost to earn profit.
Factor market and product market- The relation-ship between Factor market and product market is the factor market is running by the demand of product market. The product market is sold their goods and services with the demand of factor market to production these goods and services.
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Josh began his career as the front desk clerk of a large hotel. He enjoys working in the Lodging pathway of the Hospitality and Tourism career cluster. He wants to stay along this career path so Josh decides to get some further education. What types of classes would help Josh advance along his career pathway? After finishing his education, what positions might be available to Josh along his career path?
Answer: Classes that might help Josh advance along his career path would to be a sub/standby when important hospitalization acts are taken place. After Josh finishes his education a position that might be available to him along his career path would be a nurse or someone who is authorized to help people.
Answer: Classes that would be good for Josh would be a sub/standby education When Josh finishes his education a job that might be available to him with his career path would be a nurse or someone who is trained to help other people.
Explanation: I just hope this helps :)
Building organizational bridges with strategic partners and external allies is aided by
a. grouping all value chain activities involving strategic partners and allies under a single top executive who has sole responsibility and authority for working with strategic partners and external allies, coordinating all the joint efforts, and realizing the hoped-for benefits of all such collaborative efforts.
b. appointing "relationship managers" with responsibility for getting the right people together, promoting good rapport and information-sharing, nurturing interpersonal cooperation and communication, and ensuring effective coordination.
c. having weekly meetings will all strategic partners/allies to discuss the progress being made in collaborating and achieving the intended benefits of the collaborative effort.
d. forming a task force of knowledgeable company personnel and giving them full authority to manage and coordinate the process of collaborating with all strategic partners and external allies.
e. creating a special department to coordinate all collaborative efforts with strategic partners and external allies.
According to the question,the correct answer is b. appointing "relationship managers" promoting good rapport and information-sharing, nurturing interpersonal cooperation, and effective coordination.
Building organizational bridges with strategic partners and external allies is aided by appointing "relationship managers" who are responsible for fostering relationships and facilitating collaboration. These relationship managers play a crucial role in connecting the right individuals, fostering rapport, promoting information-sharing, and ensuring effective coordination between the organization and its partners/allies.
By having dedicated relationship managers, the organization can focus on nurturing interpersonal cooperation and communication, which is essential for building strong partnerships and alliances.
While other options such as a single top executive, weekly meetings, a task force, or a special department may also have their merits, appointing relationship managers specifically focuses on building and maintaining strong connections.
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Coronado Industries uses the percentage-of-receivables basis to record bad debt expense and concludes that 3% of accounts receivable will become uncollectible. Accounts receivable are $385,200 at the end of the year, and the allowance for doubtful accounts has a credit balance of $2,870. (a) Prepare the adjusting journal entry to record bad debt expense for the year. (b) If the allowance for doubtful accounts had a debit balance of $887 instead of a credit balance of $2,870, prepare the adjusting journal entry for bad debt expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount (b)
Answer:
A. Dr Bad debt expense $8,686
Cr Allowance for Doubtful account $8,686
B. Dr Bad debt expense $10,669
Cr Allowance for Doubtful account $10,669
Explanation:
(a) Prepararion of the adjusting journal entry to record bad debt expense for the year.
Dr Bad debt expense $8,686
Cr Allowance for Doubtful account $8,686
[(3%*$385,200)-$2,870]
(Being to record bad debt expense)
B.Preparation of the adjusting journal entry for bad debt expense
Dr Bad debt expense $10,669
Cr Allowance for Doubtful account $10,669
[(3%*$385,200)+$887]
(Being to record bad debt expense)
Which type of market includes the buying and selling of final goods and services? factor market financial market product market primary market
Answer:
financial market
Explanation:
The market that includes the buying and selling of final goods and services is called the product market. Therefore, option C is correct.
What is a product market?A product market is a marketplace where final goods and services are bought and sold for consumption. The product market is characterized by the exchange of finished goods between businesses and households.
It is an essential part of a market economy, where prices and quantities are determined by supply and demand. The primary function of the product market is to allocate resources efficiently by matching consumer preferences with available goods and services.
Another function of the product market is to facilitate competition between businesses, which drives innovation and improved efficiency.
The product market also generates revenue for businesses, which can be reinvested into research and development, expanding the business, or creating new products.
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