What single feature of the ORIGINAL Medicare program is most likely to cause an economist to say "Medicare stinks as insurance?
Answers
The lack of comprehensive coverage for prescription drugs in the original Medicare program is most likely to cause an economist to say "Medicare stinks as insurance."
The single feature of the ORIGINAL Medicare program that is most likely to cause an economist to say "Medicare stinks as insurance" is its lack of comprehensive coverage for certain services, specifically prescription drugs.
Original Medicare, which includes Part A (hospital insurance) and Part B (medical insurance), does not provide coverage for outpatient prescription drugs. This means that beneficiaries must either pay out of pocket for their prescription medications or purchase a separate private prescription drug plan (Part D) to supplement their Medicare coverage.
From an economic standpoint, this fragmented approach to prescription drug coverage can be seen as a major flaw in Medicare. It creates financial burdens and gaps in coverage for beneficiaries, potentially leading to higher out-of-pocket expenses and restricted access to necessary medications. This lack of comprehensive coverage may also result in poorer health outcomes and increased healthcare costs in the long run.
In comparison, private health insurance plans often offer more comprehensive coverage that includes prescription drugs as an integral part of their insurance benefits. This approach provides individuals with greater financial protection and ensures that they have access to necessary medications without significant additional costs.
Thus, the exclusion of prescription drug coverage in the original Medicare program is a primary reason why economists may criticize it as inadequate insurance, as it leaves a significant gap in coverage that can result in financial hardship and limited access to essential medications for beneficiaries.
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Related Questions
Given that number of daily purchases and if your average round-up was $0.50, how much would you end up investing...
Per day
Per month
Per year
Answers
Amount Invested per Day = (Number of Daily Purchases x $0.50)
Amount Invested per Month = (Number of Daily Purchases x $0.50) x 30
Amount Invested per Year = (Number of Daily Purchases x $0.50) x 365
What is an Investment?An investment is known an asset or item acquired with the goal of generating income or appreciation. Investments are generally made to earn a return on the money or asset, increase one's wealth, or to generate a profit.
In order to calculate the amount invested per day, month and year when an average round-up of $0.50 is applied to the number of daily purchases, the following formula can be used:
Amount Invested/Day = (Number of Daily Purchases x $0.50)
Amount Invested/Month = (Number of Daily Purchases x $0.50) x 30
Amount Invested/Year = (Number of Daily Purchases x $0.50) x 365
For example, if one made 10 daily purchases, the amount invested would be calculated as follows:
Amount Invested/Day = (10 x $0.50) = $5
Amount Invested/Month = (10 x $0.50) x 30 = $150
Amount Invested /Year = (10 x $0.50) x 365 = $1,825
This formula can be used to calculate the amount invested for any given number of daily purchases and an average round-up of $0.50.
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on an absorption costing income statement selling and administrative expenses are
Answers
Selling and administrative expenses are included in an absorption costing income statement. These expenses are important for assessing the overall profitability of a company's operations.
An absorption costing income statement is a financial statement that shows the costs and expenses incurred by a company in producing and selling its products or services. It includes both the manufacturing costs and the non-manufacturing costs. selling and administrative expenses are part of the non-manufacturing costs and are included in the absorption costing income statement.
Selling expenses are the costs incurred in promoting and selling the company's products or services. These expenses include advertising, sales commissions, shipping costs, and other costs directly related to the sales function. Administrative expenses, on the other hand, are the costs associated with the general management and administration of the company. These expenses include salaries of executives, office rent, utilities, and other administrative costs.
By including selling and administrative expenses in the absorption costing income statement, the company can assess the overall profitability of its operations. These expenses directly impact the company's ability to generate income and should be carefully managed to ensure the company's financial success.
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Kristoffer needs to create cell names that match the column headings he has already created. Select the correct navigational path to set those names using the Create from Selection command. Click on the tab on the ribbon and look in the Defined Names gallery.
Answers
Answer:
formula
create from selection
top row
Explanation:
just took the question on edge
The correct navigational path to create cell names that match the column heading using the Create from Selection command is: Click on the Formula tab on the ribbon and look in the Defined Names gallery. Select the range of cells, including the row that includes the name you wish to use. Select Create from Selection. Select Top row and click OK.
What is a cell?Cells are the boxes that appear in an Excel worksheet's grid. On a worksheet, each cell is identified by its reference, the column letter and row number that intersect at the cell's location.
Instead of creating cell names one by one, "Create from Selection" tool can be used to create cell names from a selection. The tool is in the "Defined Names" group of the Formulas menu.
Therefore, the correct path for using the Create from Selection command is first to click on Formula tab and look in the Defined Names gallery. Then select the range of cells, including the row that includes the name wish to use. Select Create from Selection. Select Top row and click OK.
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Waller Comp, purchased equipment for S24,000. The company is constdenne whether to determine annual depreciation using the straight-lane method or the declitung-balance method at 150 percent of the straight-1,1e tate. Waller expects to use the equipment for 10 years. At the end of which it will have an estimated salvage valueef 54.000. Prepare a comparison of these IWO alternatives for the fast two yews Waller will oun the equipment
Answers
Answer:
Waller Company
Comparison of Straight-line Depreciation and Declining Balance Methods
Straight-line method Declining balance method
Cost of equipment $24,000 $24,000
1st year depreciation exp. 1,860 2,760
Net book value 22,140 21,240
2nd year depreciation exp. 1,860 2,371.50
Ner book value 20,280 18,868.50
Explanation:
a) Data and Calculations:
Cost of purchased equipment = $24,000
Duration of useful life = 10 years
Estimated salvage value = $5,400
Depreciable amount under the straight-line method = $18,600
Depreciation expense per year under the straight-line method = $1,860 ($18,600/10)
Under the declining balance method:
The depreciation rate = 10% * 150% = 15% per year
Depreciation expense for the first two years:
Year 1, 15% of $18,600 = $2,760
Year 2, 15% of ($18,600 - 2,760) = $2,371.50
Boxwood Company sells blankets for $60 each. The following information was taken from the inventory records during May. The company had no beginning inventory on May 1. Boxwood uses a perpetual inventory system. DateBlanketsUnitsCost May 3 Purchase 5 $20 10 Sale 3 17 Purchase10$24 20 Sale 6 23 Sale 3 30 Purchase10$30 Determine the gross profit for the sale of May 23 using the FIFO inventory costing method.
Answers
To determine the gross profit for the sale of May 23 using the FIFO inventory costing method, we need to first calculate the cost of goods sold (COGS) and then deduct it from the revenue to get the gross profit.
Using the FIFO method, we assume that the first units purchased are the first ones sold. Therefore, the cost of the blankets sold on May 23 would be the cost of the first 3 units purchased on May 3 ($20 each) and the next 3 units purchased on May 10 ($24 each).
Cost of goods sold = (3 x $20) + (3 x $24) = $132
Revenue from the sale = 3 x $60 = $180
Gross profit = Revenue - COGS = $180 - $132 = $48
Therefore, the gross profit for the sale of May 23 using the FIFO inventory costing method is $48.
It's worth noting that if the company used a different inventory costing method such as LIFO (last in, first out) or weighted average, the COGS and gross profit would be different. However, since the problem specifies the use of FIFO, we only need to consider this method.
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The custom halloween company purchases a new sewing machine to replace an older machine with limited capabilities. the first week the new machine is used production nearly doubles. which economic principle does this illustrate? the impact of capital investments the law of demand the law of supply the risk of an investment vehicle
Answers
The Custom Halloween Company purchases a new sewing machine to replace an older machine with limited capabilities. The first week the new machine is used production nearly doubles. It illustrates the impact of capital investments.
What Is Capital Investment?
A company makes a capital investment when it buys tangible assets to utilise in achieving its long-term goals and objectives. Among the assets that are bought as capital investments are real estate, factories, and equipment. The funding used may originate from a variety of sources, including venture capital deals and traditional bank loans. A company's choice to invest in capital is a long-term growth plan. A business prepares and executes capital investments to guarantee future expansion.
The main goals of capital investments are to boost operational efficiency, increase market share, and boost revenue. For the same objectives, the business may make a capital investment in the form of an equity ownership in the complementary operations of another business.
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Regina is looking to start a knitting business and completes a target profile to include in her business plan. Identify which item in her target market profile is in the wrong category and where it should be moved.
Answers
Answer:
geographic information
michelle works in retail and cant decide what products to include i the stores front window display what is the first step she should take to solve this problem
Answers
The available options are:
A. List the options.
B. Evaluate the decision/choice.
C. State the problem.
D. Determine the pros and cons.
Answer:
State the problem.
Explanation:
In a situation like this, it is expected that the first step to take to solve the problem is that Michelle should understand the reason, she wants to put the product on the window display. This includes knowing what she will benefit by placing the product on the window display and which product she wants to display. This process which is the first step in the problem-solving technique is known as STATE THE PROBLEM.
Hence, the right answer is State the Problem.
In an audit of financial statements, an auditor's primary consideration regarding a control is whether it
Answers
In an audit of financial statements, an auditor's primary consideration regarding a control is whether it is designed effectively and operating efficiently.
In an audit of financial statements, an auditor's primary consideration regarding a control is whether it is designed effectively and operating efficiently. Controls are measures put in place by a company to ensure the accuracy and reliability of its financial statements.
The auditor's primary concern is to assess the effectiveness of these controls in preventing and detecting material misstatements in the financial statements. This involves evaluating the design of the control, its implementation, and its operating effectiveness.
The auditor will also consider the risk of material misstatement and the potential impact on the financial statements. If the control is not designed effectively or is not operating efficiently, the auditor may need to perform additional audit procedures to obtain sufficient evidence about the financial statements.
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Max has a monthly salary of $1,100 and also earns 7. 5% commission on his sales. If Max had $43,000 in sales last month, what were his total earnings for the month? a. $3,225 b. $4,050 c. $4,325 d. $5,150 Please select the best answer from the choices provided A B C D.
Answers
The correct answer is option c) $4,325.To calculate Max's total earnings for the month, we need to consider both his base salary and the commission he earns on his sales.
First, let's calculate the commission Max earned on his sales. Max had $43,000 in sales, and he earns a 7.5% commission on his sales. To find the commission amount, we multiply the sales amount by the commission rate:
Commission = $43,000 * 0.075 = $3,225
Next, we add the commission amount to Max's base salary to find his total earnings for the month:
Total Earnings = Base Salary + Commission
Total Earnings = $1,100 + $3,225 = $4,325
Max's total earnings for the month were $4,325.
The correct answer is option c) $4,325.
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the quantity of dollar assets supplied is primarily the quantity of bank deposits, bonds, and equities in the united states, and for all practical purposes we can take this amount as with respect to the exchange rate. a. increasing b. fixed c. decreasing d. increasing at a constant rate part 2 the most important determinant of the quantity of domestic (dollar) assets demanded is . a. the expected return of domestic assets b. the expected return of foreign assets c. the relative expected return of domestic assets d. the expected cost of foreign liabilities
Answers
The inverse definition of an exchange rate is the quantity of foreign currency that may be purchased with one unit of domestic currency.
What impact does the availability of US dollars have on the exchange rate of the dollar?The exchange rate declines if there is a rise in supply while there is no change in demand for US dollars. If demand remains unchanged but supply of US dollars declines, the exchange rate increases.
Why are exchange rates a factor in international trade between nations?The currency exchange rate is one of the most significant determinants of a country's relative level of economic health, along with variables like interest rates and inflation. A currency with a higher value makes imports cheaper and exports more expensive in foreign markets.
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For all intents and purposes, we can consider the amount of dollar assets supplied to be fixed in terms of the exchange rate because it predominantly consists of American bank deposits, bonds, and stocks.
What impact does the availability of US dollars have on the exchange rate of the dollar?There are two types of exchange rates: fixed and variable. The country's central bank sets the fixed exchange rate, while the dynamics of market demand and supply set the floating rate. The exchange rate declines if there is a rise in supply while there is no change in demand for US dollars. If demand remains unchanged but supply of US dollars declines, the exchange rate increases. The currency exchange rate is one of the most significant determinants of a country's relative level of economic health, along with variables like interest rates and inflation. A currency with a higher value makes imports cheaper and exports more expensive in foreign markets.
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names of petroleum/oil industries in Pakistan their
budget and their locations. also the same information of some
global industries
Answers
Petroleum/Oil Industries in Pakistan: Pakistan State Oil (PSO) - Budget and locations: As a state-owned company, PSO operates throughout Pakistan and its budget varies annually.
Pakistan Oilfields Limited (POL) - Budget and locations: POL operates in various locations in Pakistan, including Khaur, Kotri, and Adhi. Its budget varies annually. Attock Petroleum Limited (APL) - Budget and locations: APL operates in multiple locations across Pakistan, including Karachi, Lahore, and Rawalpindi. Its budget varies annually. Pakistan Petroleum Limited (PPL) - Budget and locations: PPL operates in different regions of Pakistan, such as Sindh and Balochistan. Its budget varies annually.
Global Petroleum/Oil Industries: Saudi Aramco - Budget and locations: Saudi Aramco is headquartered in Dhahran, Saudi Arabia, and its budget varies annually. ExxonMobil - Budget and locations: ExxonMobil is a multinational company with operations worldwide, including locations in the United States, Europe, Africa, and Asia. Its budget varies annually.
BP (British Petroleum) - Budget and locations: BP operates in various countries, including the United Kingdom, the United States, and several locations in Europe, Asia, and Africa. Its budget varies annually.
Chevron Corporation - Budget and locations: Chevron has operations in multiple countries, including the United States, Australia, Angola, Kazakhstan, and more. Its budget varies annually.
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an important money principle to consider is that you should _____ and _____ your money.
Answers
An important money principle to consider is that you should save and invest your money.
Why is it crucial to follow the first principle of money?No matter how complex a concept may be, first principles enable us to dissect it into its component parts, which can then be further dissected until the fundamental elements of money management are revealed. Despite the difficulty of the process, it is worthwhile.
What are the two factors that make money important?While money cannot purchase happiness, it may provide you and your loved ones with protection and safety. Humans require money to pay for all the necessities of existence, including food, shelter, medical expenses, and a quality education.
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Match the definitions to the relevant economic indicators. Gross Domestic Product (GDP) nominal GDP Gross National Product (GNP) real GDP measure of economic output adjusted to inflation or deflation arrowRight measure of economic output before adjusting for inflation arrowRight measure of a country's economic output produced all over the world arrowRight measure of a country's output, income and expenses arrowRight
Answers
Answer:
Real GDP - measure of economic output adjusted to inflation or deflation
Nominal GDP - measure of economic output before adjusting for inflation
Gross National Product - right measure of a country's economic output produced all over the world
GDP - Right measure of a country's output, income and expenses
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports imports
When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.
Nominal GDP is GDP calculated using current year prices while Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.
Answer:
Explanation:
What is the definition of a team? What is teamwork? Why is learning to work well with others important in life? What is one issue that hinders you from wanting to work with other people? What is one thing you can change so you can be successful when working in teams?
Answers
Answer:
Team work is when every one comes together to do or accomplish something and the definition of team is a group of people that play for the same thing it's important in life because when you get into the real world you will have to work with other people even if you don't like them one issue that hinders you from wanting to work with other people is you don't like those other people one thing you can change so you can be successful when working in teams is try to get along with everyone else on the team.
Which of the following makes radio a potentially effective advertising medium? A)It can carry a picture.B)The seller can show the features of the product.C)Like magazine advertising, it has a long life.D)It is accessible to consumers.E)The seller can demonstrate the product
Answers
The correct answer is D) It is accessible to consumers. Radio is a potentially effective advertising medium due to its accessibility to consumers.
Unlike other mediums such as television or print, radio can reach a wide audience as it is accessible in various locations, including homes, cars, workplaces, and portable devices. This widespread accessibility allows advertisers to target and engage with consumers during their daily routines and activities.
Additionally, radio advertising can be tailored to specific geographic regions or demographic groups by selecting appropriate radio stations or time slots. Radio also offers the advantage of being a cost-effective advertising option compared to other mediums. While radio advertising may lack visual elements like pictures or product demonstrations, its accessibility and potential for broad reach make it a valuable channel for reaching and influencing consumers.
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Question 6 (Personal finance help urgently
Answers
a printed pamphelt that describes goods for sale is called a?
Answers
Answer:
The term "marketing brochure" refers to a small document, or pamphlet, which describes and promotes various products or services to be marketed.
Following the 2007-2009 financial crisis, many people feared that Greece might leave the euro and resume using the drachma. If that happened, the drachma might be worth less than the euro. When using fiat money like the drachma, the key to acceptance is that households and firms have confidence that if they accept drachma in exchange for goods and services, the drachma will not lose much value during the time they hold them. If sellers were not willing to accept the drachma in exchange for goods and services, the drachma would not serve as
Answers
Answer:
A medium of exchange
Explanation:
A medium of exchange is a system where it is used to facilitate the sale, purchase, trading of the products & services between the parties
Since in the given situation, it is mentioned that the seller would not willing to accept the drachma in exchange of goods & services so here the drachma would not be served as a medium of exchange
hence, the same would be relevant
Record issuance of an additional 2,100 shares of $1 par value common stock for $42,000.
Answers
The record for the issuance of 2,100 shares of $1 par value common stock for $42,000 is :
Date Account title Debit Credit
XX - XXXX Cash $ 42, 000
Common stock $ 2, 100
Additional Paid in capital $ 39, 900
How to record stock issuance ?The amount of cash that is received from the issuance of the stock would go to the cash account as a debit and in this case that amount is the $ 42, 000 the stock was issued for.
The amount to be credited to the common stock account would be:
= Number of common stock x Par value
= 2, 100 x 1
= $2, 100
The Additional paid in capital would be :
= 42, 000 - 2, 100
= $ 39, 900
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what is the difference between product value and unique selling proposition?
Answers
Answer:
USPs and value propositions often get confused
there under two different umbrella .
Keep in mind that your USP doesn’t have to revolve around a product detail (such as quality, features, or price). It can also call attention to a unique aspect of your business more broadly speaking (service, selection, speed, convenience, dependability, guarantees, customization, philanthropy, and so on).
Value propositions are longer statements than USPs because they express the tangible results or concrete outcomes (“benefits”) a customer experiences from using a company’s products or services. They serve to convince your target market they’ll get “value for their money” by describing exactly what that value is.
"The statement of work should contain:A. Introduction and background for the projectB. A brief and general description of the work to be performedExpected"C. All of these are elements of a statement of wor
Answers
The statement of work should contain all of these elements: A- Introduction and background for the project, B - a brief and general description of the work to be performed, and C- expected outcomes.
A statement of work (SOW) is a document used in project management that outlines the project's work requirements, deliverables, schedules, and performance criteria. It is a clear and concise description of the work that must be done. The SOW can be utilized to establish vendor or supplier contracts.
The statement of work should include the following elements:
Introduction and background for the project: A statement of work (SOW) should begin with a clear and concise explanation of the project's goal, its significance, and its potential impact on the organization. This should include details on the project's stakeholders, anticipated user base, and other information.
A brief and general description of the work to be performed: The SOW should provide a detailed description of the project's work requirements, including the deliverables, services, products, or other outputs that will be delivered during the project's execution.
Expected outcomes: The SOW should describe the anticipated outcomes of the project, including the anticipated benefits, cost savings, or other results that the organization expects to achieve. These should be measurable and quantifiable, and the document should include performance standards or other measures that will be used to evaluate the project's success or failure.
Thus, options A, B and C are correct.
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You just borrowed money for four years to buy a car. The payments are $218 a month and the APR is 7 percent. How is the EAR computed?
Answers
Answer:
EAR= 0.072 = 7.2%
Explanation:
Giving the following information:
Nominal interest rate= 7%
Number of periods= 12 months
To calculate the Effective Annual Rate (EAR), we need to use the following formula:
EAR= (1 + nominal rate/number of periods)^number of periods
EAR= [(1 + 0.07/12)^12] - 1
EAR= 0.072 = 7.2%
What is market information?
Answers
Answer:
Market Information means an electronic document (also available in paper form upon request) located on the Trading Platform which sets out the commercial details for each Market, including but not limited to: Margin Factors, the minimum and maximum Quantity and Our Spread.
Explanation:
brainliest plz
Answer:
The results of marketing research that are used to plan for future marketing or product development activities. The information may come from a single source or through a system of collection.
Explanation:
on edge 2022
(Easy) Drag each label to the correct location on the image.
Match the factors to the type of financing adopted by the business.
Answers
Answer:
First 3 going straight down go in equity financing last to go in debt financing.
Explanation:
if baldwin issued 1000 shares of common stock at last year's end price, the effect on the balance sheet would be: select : 1 save answer retained earnings would increase by $36,085 equity would decrease by $3,609 equity would increase by $36,085 retained earnings would increase by $3,609
Answers
If Baldwin issued 1000 shares of common stock at last year's end price, the effect on the balance sheet would be that equity would increase by $36,085. Therefore, the correct answer is option c) equity would increase by $36,085.
When a company issues shares of common stock, it receives cash from the shareholders in exchange for ownership in the company. This transaction affects the balance sheet by increasing both the company's assets and its equity. The cash received from issuing the shares would be recorded as an increase in the company's assets, specifically in the cash or cash equivalents account. At the same time, the company would record an increase in its equity accounts to reflect the additional ownership interest acquired by the shareholders. The specific equity account that would be affected depends on the accounting treatment used by the company. In this case, the increase in equity would be recorded as an increase in the common stock account, reflecting the additional shares issued. This increase in equity represents the additional capital contributed by the shareholders and contributes to the overall ownership value of the company. Therefore, the correct answer is option c) equity would increase by $36,085, reflecting the increase in the common stock account on the balance sheet.
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The effect of a higher discount rate could best be represented by, ceteris paribus, Multiple Choice 0 A downward shift of the investment demand curve. 0 A movement up the investment demand curve, 0 An upward shift of the investment demand curve. 0 A movement down the investment curve.
Answers
A higher discount rate would result in a downward shift of the investment demand curve, ceteris paribus(a).
The discount rate represents the cost of capital and reflects the opportunity cost of investing. A higher discount rate increases the cost of capital, making investment projects less attractive. This leads to a decrease in the expected returns from investments, causing a downward shift of the investment demand curve.
With a higher discount rate, firms will require higher expected returns to undertake investment projects. As a result, fewer investment projects will be considered economically viable, leading to a decrease in the quantity of investment demanded at any given interest rate.
Ceteris paribus implies that other factors influencing investment demand, such as technological advancements or government policies, remain constant. So A option is correct.
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An arena makes profits of $150,000, $75,000, and $1,250,000 from concerts, circuses, and UFC events, respectively. What are the respective percentages of the total profit? (Round to the nearest percent.)
Answers
Answer:
10%, 5%, 85%
Explanation:
\(\frac{(1250+75+150)}{100}=14\frac{3}{4}\) This is the amount, in thousands, required to get 1%.
\(\frac{1250}{14.75}=84\frac{3}{4}\), therefore this is 85% (approximated)
\(\frac{75}{14.75}=5\frac{1}{12}\), therefore this is 5%, and we'll call this number A
\(a*2=10\frac{1}{6}\), and this is 10%!
Bracelets cost p dollars each at a discount store. at a neighboring retail chain store, the same bracelets cost $1 more each, which means that x dollars will buy 10 more bracelets at the discount store than at the retail chain store. what is the value of x in terms of p ?
Answers
The value of x in terms of p is\(10p^2 + 10p\).
What is the value of x in terms of p in the given scenario?The value of x in terms of p can be determined by considering the price difference between the discount store and the retail chain store.
Let's assume that the price of each bracelet at the discount store is p dollars. Since the same bracelets cost 1 more each at the retail chain store, the price per bracelet at the retail chain store would be (p + 1) dollars.
Now, we are given that x dollars will buy 10 more bracelets at the discount store than at the retail chain store. This means that we can buy (x / p) bracelets at the discount store and (x / (p + 1)) bracelets at the retail chain store.
According to the given information, the number of bracelets bought at the discount store is 10 more than the number bought at the retail chain store. So, we can set up the equation:
\((x / p) = (x / (p + 1)) + 10\)
To solve for x in terms of p, we can cross multiply and simplify the equation:
\(x(p + 1) = xp + 10p(p + 1)xp + x = xp + 10p^2 + 10px = 10p^2 + 10p\)
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During civil lawsuit proceedings regarding alcohol service, courts will try to determine if the
designated driver was present and remained sober. guest's BAC was checked throughout the evening. server recently attended proper alcohol training, server contributed to the injury.
Answers
Courts will attempt to ascertain if the designated driver was there and stayed sober throughout civil lawsuit proceedings over alcohol service.
A lawsuit is a legal action brought by one or more plaintiffs or claimants against one or more defendants. Only a limited number of laws from long ago that are still in force include the phrase "suit in law." The term "lawsuit" refers to a civil action that is launched by a plaintiff—a party who alleges that they have suffered loss as a result of the defendant's actions—and in which the plaintiff asks the court for either a legal remedy or an equitable remedy.
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