which of the following is true of frugging? which of the following is true of frugging? it occurs when research firms do not fully disclose how the methodology works. it occurs when different publicly available information is combined to determine consumers' identities. it creates a negative impact on the entire industry. it must be conducted at the end of any study involving deception. it occurs when anyone who is conveniently available completes a survey.

Answers

Answer 1

Frugging is a term that refers to fundraising under the guise of research. It is a technique that is used by some organizations to fundraise by posing as a research group.

asking for donations rather than conducting an actual research study.Frugging is often considered unethical and can create a negative impact on the entire industry. It occurs when research firms do not fully disclose how the methodology works, and it also occurs when different publicly available information is combined to determine consumers' identities.

Frugging occurs when anyone who is conveniently available completes a survey, whether they have an interest in the survey or not. It can also be conducted at the end of any study involving deception. Frugging, by nature, is deceitful, and those who practice it are typically looking to raise funds by taking advantage of the public's willingness to participate in research studies.

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Related Questions

What hazard is a farmer hoping to prevent by installing a thick mat on the floor at his loading dock?

heat exposure

joint injuries

excessive noise

unclean conditions

Answers

Answer:

joint injuries

Explanation:

Repetitive motions like bending and lifting can cause severe damage on workers’ joints. Installing a thick mat on the floor will help act as a shock absorber for the workers’ joints.

Answer:

joint injuries

Explanation:

started business with cash Rs 100000 and furniture Rs 50000​

Answers

Answer:

See below

Explanation:

Cash and furniture are assets. An increase in assets is debited. The amounts used to buy the in facilitating the transactions is the capital.

The journal entry will be as below,

Cash  A/c       Dr.  Rs 100,000

Furniture A/c   Dr.  Rs  50,000

Capital      A/c Cr.        Rs 150,000

Using the following balance sheet items and amounts, calculate the total liquid assets and total current liabilities.Money market account $3,450 Medical bills $398Mortgage $154,000 Checking account $950Retirement account $94,200 Credit card balance $659

Answers

Given the following balance sheet items and amounts, the total liquid assets and total current liabilities are to be calculated:

Money market account $3,450

Medical bills $398

Mortgage $154,000

Checking account $950

Retirement account $94,200

Credit card balance $659

Calculation of liquid assets: Since liquid assets are those that are easily convertible to cash, we can determine the total liquid assets by adding the checking account balance and money market account balance.

So,Total liquid assets= $3,450 + $950= $4,400

Calculation of current liabilities: Current liabilities are those that are expected to be settled in cash within the next year. The given medical bills and credit card balance are current liabilities.

Total current liabilities  = $398 + $659= $1,057

Thus, the total liquid assets and total current liabilities are $4,400 and $1,057, respectively.

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Put the following investment options in order of least to greatest risk: starting a business, B-rated bond, speculative stock, property

Answers

Answer:

1. B-rated bond

2. property

3. starting a business

4. speculative stock

The order of investment options in order of least to greatest risk is B-rated bonds, Property, Starting a business, and speculative stock.

What do you mean by investment?

Investment refers to the item acquired to generate more revenues or profits.

The order of investment options from least to greatest risk is B-rated bonds, property, starting a business, and speculative stocks.

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according to ceos, the most important characteristic that professional hires must possess in order to be successful in the contemporary workplace is:

Answers

The answer to the important characteristic a professional must have to be successful is Creativity.

Creativity is defined as the capacity to generate or identify ideas, options, or possibilities that may be useful in addressing problems, connecting with others, or amusing ourselves and others. It's a common misconception that it cannot be learned; in reality, some lucky people have an intrinsic sense of creativity. But this assumption is false. According to conventional psychology research, the three fundamental types of creativity are exploratory, transformative, and combinational. Our ability to be creative allows us to approach problems with more innovation and openness. Creativity expands the mind. The likelihood that future generations will be prejudiced is the prisoner of a culture that has lost touch with its creative side. It broadens our horizons and can aid in the eradication of prejudice.

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On december 27, 2022 , abc, inc receives a $5,000 deposit by a customer for some remodeling that is scheduled to be started on december 29, 2022 and completed on january 3, 2023. The company president tells the accountant to go ahead and book the $5,000 as revenue since the completion of the project will only take a few days. What is the ethical dilemma involved?.

Answers

There is an ethical dilemma of failure to complete the project by the deadline might result in financial hardship for the firm.

A situation where one or more of the available alternatives compels the agent to go against or compromise their ethical action standards is known as an ethical dilemma. A moral or ethical dilemma is a predicament in which you must make a choice, decide what to do, take a certain action, or find a resolution to an issue that may be unpleasant. Ethical dilemma can also be a predicament in which you are completely unsure of what action to do. Four distinct ethical dilemma models exist: justice vs. mercy, individual vs. community, truth vs. loyalty, and short-term vs. long-term. The many forms of responsibilities that are at odds with one another actions can be used to categories ethical issues.

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Unlike the distinctive competencies of a company, the core capabilities of a company:
O a. are tangible and more visible.
O b. cannot be sustained for long without superior distinctive competencies.
O c. include things that the company can make, do..or perform better than its competitors.
O d. determine how efficiently inputs can be turned into outputs.

Unlike the distinctive competencies of a company, the core capabilities of a company:O a. are tangible

Answers

Option c. is correct: The core capabilities of a company include things that the company can make, do, or perform better than its competitors.

Distinctive competencies are unique strengths or advantages that a company possesses, which allow it to outperform its competitors in a particular area. Core capabilities are the key abilities, skills or processes that enable a company to deliver its products or services effectively and efficiently. While both are important for a company to succeed, core capabilities are often more fundamental to the company's operations and can provide a sustainable competitive advantage if leveraged correctly.

I have a question. How do you deal with the pain, of knowing you cant date your crush, who you have liked for 1 and a half years, and knowing that her dad is the reason why. How should i deal with it cause i cant seem to get past it.

Answers

You should know that it isn’t your fault what her dad thinks about you. I’ve been through a similar experience and I’ve learned that it wasn’t my fault, or my doing of what there parents thought about me. If you really do like her, go and tell her. It’s her thoughts on you that matter =)

Answer:

don't worry about it because it is not your fault that her dad does not let you

Explanation:

hopefully he opens up about you

How different would your life be if there weren't social media platforms? Would your life improve? What would you miss?

Answers

Answer:

I think it would improve because then people will be more interactive and social and everyone will be way more kind and I think its just way better in every way be social media is addicting to people. do yee. =)

Answer:

It will improve

Explanation:

Because the the citizen will be more caring to other things. I think there isn't a thing that we would miss

Vehicle manufacturers and mechanics suggest that an oil change is done at least ... A. every two months or 2,000 miles. B. every three months or 3,000 miles. C. every six months of 6,000 miles. Vehicle manufacturers and mechanics suggest that an oil change is done at least ... A. every two months or 2,000 miles . B. every three months or 3,000 miles . C. every six months of 6,000 miles .​

Answers

Vehicle manufacturers and mechanics suggest that an oil change is done at least B. B. every three months or 3,000 miles.

What is Car Maintenance?

This refers to the care that is given to a car or vehicle that contains an engine so it can continue to perform optimally.

Hence, we can see that based on the recommendations of mechanics and vehicle manufacturers, they believe that an oil change is necessary every 3 months or 3k miles.

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According to the Hackman article, teams outperform individuals in part because:
Group of answer choices
They reduce conflicts
They bring more diverse resources to bear on a task than can any single employee
They are more likely than individuals to engage in distributive bargaining
They take less time
They replace the existing organizational structure

Answers

According to the Hackman article, teams outperform individuals because they bring more diverse resources to bear on a task than any single employee.


According to the Hackman article, teams outperform individuals primarily because they bring more diverse resources to bear on a task than can any single employee. This diversity in resources, such as skills, knowledge, and perspectives, allows teams to develop more comprehensive solutions to problems and challenges. Additionally, teams can tap into each member's unique strengths, which leads to enhanced problem-solving and decision-making. According to the Hackman article, teams outperform individuals because they bring more diverse resources to bear on a task than any single employee.

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Acme enterprises issued shares of common stock for an amount in excess of par value. the journal entry to record this transactions includes a credit to?

Answers

The journal entry to record the issuance of shares of common stock for an amount in excess of par value includes a credit to Common Stock.

When a company like Acme Enterprises issues shares of common stock for an amount greater than the par value, it results in a situation known as "additional paid-in capital" or "share premium." The par value represents the nominal or stated value of the shares, while the amount in excess of par value is considered additional paid-in capital.

To record this transaction, the journal entry would typically involve debiting the Cash account to reflect the inflow of cash from the issuance of the shares. Simultaneously, a credit would be made to the Common Stock account to record the par value of the shares issued. Any excess amount received over the par value would be credited to the Additional Paid-in Capital or Share Premium account.

The above explanation provides a general understanding of how such a transaction would be recorded, but the actual journal entry may vary depending on the company's specific accounting policies and regulations.

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ASAP!!!!!!!! Would give a lot of points!!!!!
Assume that the output gap is estimated to be $156 billion and the government decides to take action. If the marginal propensity to consume is 0.75, by how much would it need to change government spending to close the gap? Show your work.

Answers

Answer:

$39 billion

Explanation:

Given marginal propensity to consume is 0.75,

the Spending Multiplier = 1 / (1 - MPC) = 1 / (1 - 0.75) = 1 / 0.25 = 4

To close a gap of $156 billion, the government needs to change spending by $156 / Spending Multiplier

= $156 /4

= $39 billion

Computing and Reporting the Acquisition and Amortization of Three Different Intangible Assets Springer Company had three intangible assets at the end of 2014 (end of the accounting year):



a. A copyright purchased on January 1, 2017, for a cash cost of $14,500. The copyright is expected to have a 10-year useful life to Springer.


b. Goodwill of $65,000 from the purchase of the Hartford Company on July 1, 2016.


c. A patent purchased on January 1, 2016, for $48,000. The inventor had registered the patent with the U. S. Patent Office on January 1, 2014.



Required:


1. Compute the acquisition cost of each intangible asset.


2. Compute the amortization of each intangible at December 31, 2016. The company does not use contra-accounts.


3. Show how these assets and any related expenses should be reported on the balance sheet and income statement for 2016. (Assume there has been no impairment of goodwill. )

Answers

1) Compute the acquisition cost of each intangible asset:a) Copyright purchased on January 1, 2017Acquisition Cost = $14,500b) Goodwill of $65,000 from the purchase of the Hartford Company on July 1, 2016Acquisition Cost = $65,000c) .

A patent purchased on January 1, 2016Acquisition Cost = $48,0002) Compute the amortization of each intangible at December 31, 2016. The company does not use contra-accounts:a) CopyrightAmortization expense = Acquisition cost/Useful lifeAmortization expense = $14,500/10 years = $1,450b) PatentAcquisition cost is not equal to patent cost due to its registration. Therefore, the patent cost should be amortized over the remaining legal life.

Amortization expense = (Cost − Salvage value)/Remaining legal lifeAmortization expense = ($48,000 − $0)/16 years = $3,000c) GoodwillGoodwill is not amortized. It is required to be tested for impairment.3) Show how these assets and any related expenses should be reported on the balance sheet and income statement for 2016. (Assume there has been no impairment of goodwill.)Balance sheetIntangible assets are reported as non-current assets in the balance sheet. Intangible assets are reported at their acquisition cost less any accumulated amortization.

The balance sheet presentation is shown below:Income statementCopyright Amortization expense = $1,450Patent Amortization expense = $3,000Total intangible amortization expense = $4,450Therefore, intangible assets amortization expense is shown as a separate line item in the income statement.

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whats a business name (Cant be a business already)

Answers

Answer:

imagination ink.

Explanation:

we produce imaginations, your in need of one

Selecting a job based on your skills and interests is important, because on average, a person with a full time job works approximately _____ hours each year.a.1200b.1600c.2000d.2400 Please select the best answer from the choices providedABCD

Answers

Selecting a job based on your skills and interests is important, because on average, a person with a full time job works approximately 2000 hours each year.

Your choices for work activities and settings are reflected in your career interests. You may make a better educated and smart career selection by determining your professional interests. By choosing a job that utilizes your skills and is consistent with your beliefs and preferences, you are following your career interests. Simply simply, you're discovering regular activities that you love. It's crucial to periodically review your professional assets because your interests in a field may change over time. For instance, you could uncover a passion you weren't aware you possessed or one you haven't had a chance to pursue yet. Interests in a career are significant since they reveal your choices for a workplace. There are several advantages to coordinating your profession with your hobbies.

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HELP PLEASE!!!
Step 1: Watch the Videos
Watch the following Ted Talk:

John Gerzema: “The post-crisis consumer.”

Step 2: Write Newspaper Advice Column
Now you will write a newspaper article entitled, “Tips for Consumers”. In it you want to give advice on how to make the best decisions when it comes to purchasing.

Imagine that you had interviewed John Gerzema and quote him in your article at least twice. Be sure that your article discusses the following:

Researching big purchases
Buying durable products
Avoiding impulse buying by delaying purchasing for a day or more

Answers

A sample newspaper article with the title is given below:

The Newspaper Article

"Tips for Consumers: Making Smart Purchasing Decisions"

In today's fast-paced consumer culture, it can be easy to fall into the trap of impulse buying and making hasty decisions when it comes to big purchases. However, by taking the time to research and consider your options, you can ensure that you are getting the most for your money and making smart decisions that will pay off in the long run.

Gerzema advises that consumers should take the time to compare prices and read reviews from other customers before making a purchase.

In conclusion, by taking the time to research, opt for durable products and avoid impulse buying, consumers can make smart purchasing decisions that will save them money and give them the most value for their money

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With specific reference to the case study, describe some of the soft skills needed at university and in the workplace

Answers

Answer:

Soft skills are personal qualities and attributes that are not related to specific knowledge or technical skills, but rather to the way a person interacts with others and approaches tasks and challenges. Some examples of common soft skills that may be important at university and in the workplace include:

Communication skills: The ability to express oneself clearly and effectively, both in written and oral form, is important at university and in the workplace. This includes being able to listen actively and understand others' perspectives, as well as being able to articulate one's own ideas and opinions.

Collaboration skills: The ability to work well with others is important in both educational and professional settings. This includes being able to contribute effectively to group projects and discussions, as well as being able to resolve conflicts and negotiate solutions with others.

Problem-solving skills: The ability to think critically and creatively, and to come up with effective solutions to problems, is important in both academic and professional contexts. This includes being able to identify and analyze problems, generate and evaluate potential solutions, and implement and follow through on the chosen solution.

Time management skills: The ability to manage one's time effectively is important in both academic and professional settings. This includes being able to prioritize tasks, set and meet deadlines, and manage workload effectively.

Interpersonal skills: The ability to build and maintain positive relationships with others is important in both educational and professional contexts. This includes being able to work well with a diverse range of people, being able to empathize with others, and being able to handle difficult situations and conflicts in a professional manner.

explain the role of the following committees, as detailed in the King reports -audit committee -social and ethical committee -remuneration committee​

Answers

The King Reports are a series of reports on corporate governance in South Africa that provide guidance on best practices for businesses.

Audit Committee:

The audit committee is responsible for overseeing the financial reporting process and ensuring that financial statements are accurate and comply with accounting standards.

They are also responsible for overseeing the company's internal controls and risk management processes.

Social and Ethical Committee:

The social and ethical committee is responsible for ensuring that the company's operations are conducted in a socially responsible and ethical manner.

Remuneration Committee:

The remuneration committee is responsible for determining the remuneration packages of the company's executive directors and senior managers.

This includes setting performance targets and criteria for bonuses and incentives and ensuring that the company's remuneration policies are aligned with the company's strategy and long-term goals.\

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The adjusted trial balance of corporation at december 31 shows that sales revenue for the year was and other revenue was. Cost of goods sold for that same period was ​, while other expenses totaled. The corporation declared and paid dividends of during the year. The balance of retained earnings before closing entries was

Answers

The record of the entry to close out the revenue accounts will be as debit sales revenue (525,000), debit other revenue (57,000), and Credit Retained (582,000).

Revenue accounts' debit entries cover sales-related allowances, discounts, and refunds. Credits boost the balance while debits lower the net revenue in revenue-type accounts via the returns, discounts, and allowance accounts. ADVANCE KNOWLEDGE.

Debit entries indicate a decline in the revenue accounts in the income statement, whereas credits indicate an increase in the account. The foundation of double-entry accounting is the idea of debits and offsetting credits.

Retention Credit is the sum indicated in the applicable Participant's Retention Agreement that will be credited to the Participant's Retention Account as a "Deferred Compensation Account" (as that term is defined in the applicable Retention Agreement).

Businesses that kept paying staff while closed due to the COVID-19 epidemic or saw severe drops in gross receipts from March 13, 2020, to December 31, 2021, are eligible for the Employee Retention Credit (ERC), a refundable tax credit.

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NOTE: The question given on the portal is incomplete. Here's the complete question:

QUESTION: The adjusted trial balance of Arctic Corporation at December 31 shows that sales revenue for the year was $ 525,000 and other revenue was $ 57,000. Cost of goods sold for that same period was $ 265,000​, while other expenses totaled $ 195,000. The corporation declared and paid dividends of $ 10,000 during the year. The balance of retained earnings before closing entries was $ 490,000. Record the entry to close out the revenue accounts.

Four ways in which schools could promote entrepreneurship as a viable option to counteract unemployment

Answers

Answer:

Entrepreneurship is an important alternative to counteract unemployment. It not only gives provides employment to the entrepreneur but also provides jobs to others as well.

Explanation:

Entrepreneurship may be defined as the setting up of a business or a work looking out for making profit dealing with the risks and the challenges on its own.

Four ways in which the school can promote entrepreneurship as a viable option to counteract unemployment are :

build awareness and promote entrepreneurship among the students.Provide the benefits of being an entrepreneur and showing them the possibilities of setting up a business that can even provide jobs to others.Providing with valuable ideas and guidance regarding setting up a business and giving an overview of the current market trends and market study.Helping the students reach out to other entrepreneurs and also providing ways to get any financial aid to set up a business.

Four Ways through which Schools can promote Entrepreneurship include the following

Creation of entrepreneurship centres to provide consulting to non-profits and small businesses.Awareness creation through seminars and lectures on the importance of entrepreneurship as an alternative to paid employment. Host entrepreneurship contests where incentives are given.Inviting influential and professional entrepreneurs to give lectures.

What is Entrepreneurship ?

Entrepreneurship is defined as the process of starting up a business, and taking up the responsibility of financial risk with the hope of making profit.

Entrepreneurship is a potent means of reducing unemployment to the lowest minimum.

Entrepreneurship brings about creativity and as such value is created which leads to more wealth.

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what kind of standardized tests do new yorkers take in high school?

Answers

Answer:

regents state tests SAT ACT

true or false? checks are documented individually on a deposit slip.

Answers

Answer:

i believe that it is true

Explanation:

influences of Business environment,​

Answers

Factors that Influence the business environment are :

Economic environmentSocial environmentTechnological environmentPolitical environmentLegal environment

The business environment means the total of all the individuals, and institutions that could affect the working of the business firm.

Importance of business environment:

Business environments help the firm to prepare itself for every possible obstruction or hindrance that can affect the functioning of the firm.It also helps the firm to adjust to frequent changes.

The economic environment is all the things that create an economic impact on the firm.

The social environment is all the traditions and customs of the society that creates an impact on the firm.

The technological environment is all the impact on the firm caused due to new technology and upgradations.

The political environment is the conditions and behavior that the elected representatives hold toward the business

The legal environment is entirely based on the rules and legislation of the authorities.

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The financial markets are a relatively new technological development created in the last 50 years.

Answers

Answer:

False

Explanation:

Wall Street, which is one of the most famous financial markets in the US was established in 1792. In Europe, financial markets exist since the middle ages. Modern banking started in Italy in the 12th century.

Telecommunications improved how financial markets work during the 20th century and expanded their reach, but they are almost 900 years old.

What is the price of a Treasury Bill offering $10,000 in 13
weeks, if the required rate of return is 0.95 percent? (show
work)

Answers

The price of the Treasury Bill offering $10,000 in 13 weeks, with a required rate of return of 0.95%, is approximately $9,975.62. This calculation shows that the price of a Treasury Bill is lower than its face value due to the discount rate applied.

To calculate the price of a Treasury Bill, we need to use the formula for present value:

Price = Face Value / (1 + (Discount Rate * Time))

In this case, the face value is $10,000, the discount rate is 0.95% (or 0.0095 as a decimal), and the time is 13 weeks (or 0.25 years).

Price = $10,000 / (1 + (0.0095 * 0.25))

Price = $10,000 / (1 + 0.002375)

Price = $10,000 / 1.002375

Price ≈ $9,975.62

Therefore, the price of the Treasury Bill offering $10,000 in 13 weeks, with a required rate of return of 0.95%, is approximately $9,975.62.

This calculation demonstrates that the discount rate used results in a Treasury Bill's price being less than its face value. The discount rate represents the required rate of return for investors and takes into account the time value of money.

In conclusion, understanding how to calculate the price of a Treasury Bill is essential for investors and market participants. The price of a Treasury Bill is influenced by the face value, discount rate, and time until maturity.

As the required rate of return increases, the price of the Treasury Bill decreases. This reflects the inverse relationship between price and yield. By calculating the price, investors can assess the attractiveness of Treasury Bills in comparison to other investment options and make informed decisions based on their investment objectives and risk preferences.

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You are considering a 3/5 ARM. What does the 5 represent?
OA. The interest rate of the initial fixed-rate loan period
B. The total number of years in the loan
OC. The number of years between adjustments in the interest rate
D. The number of years that a fixed interest rate will be applied to the
loan

Answers

The number 5 in a 3/5 ARM (Adjustable Rate Mortgage) represents Option C. The number of years between adjustments in the interest rate.

An ARM, or Adjustable Rate Mortgage, is a type of mortgage loan where the interest rate can change over time. The "3/5" in a 3/5 ARM refers to the initial fixed-rate period and the subsequent adjustment period. In this case, the number 3 represents the initial fixed-rate period, during which the interest rate remains unchanged. After this initial period, the interest rate can adjust periodically based on certain factors, such as market conditions.

The number 5 represents the number of years between adjustments in the interest rate. It means that after the initial fixed-rate period of 3 years, the interest rate on the loan will be adjusted every 5 years. During these adjustment periods, the interest rate can either increase or decrease based on the terms of the mortgage agreement and the prevailing market rates.

Choosing a 3/5 ARM means that the borrower will have a fixed interest rate for the first 3 years of the loan and then the interest rate will be adjusted every 5 years thereafter until the loan is paid off or refinanced. The specific details of the adjustments, such as the index used and the margin, will be outlined in the loan agreement.

It's important for borrowers considering an ARM to carefully evaluate their financial situation and future plans, as the fluctuating interest rates can affect their monthly mortgage payments. It's also crucial to understand the terms and conditions of the ARM, including the adjustment period, so they can make informed decisions regarding their mortgage. Therefore, the correct option is C.

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analyze the merits and drawbacks of operating in a mass market.

Answers

Answer:

merits

1. Cost efficiency

1. Cost efficiencyMass marketing is a cost-effective option when companies use it to advertise products that consumers consider necessities. Customized advertisements are often expensive compared to mass marketing campaigns. With mass marketing, companies might avoid using resources to contact customers individually.

2. Large scope

2. Large scopeMass marketing campaigns often reach wider audiences when compared to niche marketing techniques. Whereas niche marketing appeals to one specific type of customer, mass marketing targets all consumers in a market. When a company uses mass marketing, it sends each of its advertisements across several channels and has the potential to reach a variety of customers.

3. Brand awareness

. Brand awarenessMass marketing can increase a company's brand awareness. Customers that view a company's mass marketing campaign several times or in a variety of places may have an easier time recognizing the brand and its products. A solid brand image might discourage competition from other companies that use mass marketing and have similar products.

4. Time efficient

Time efficientMarketing teams can save time when using mass marketing techniques. Niche marketing requires professionals to create different advertisement strategies for each marketing segment. Mass marketing reduces the time spent on advertisement creation by using the same campaign for each type of customer.

drawbacks

1. Customer experience

1. Customer experienceA customer's experience with a mass marketing campaign may vary depending on factors like their interests, demographics, needs and geographical location. Consumers have different needs and desires, and a single marketing campaign may not fulfill the wishes of each customer. For example, mass marketing may be successful in one geographic area but customers in other regions might not respond positively to it.

2. Inefficient for small businesses

2. Inefficient for small businessesMass marketing may be an inefficient strategy for small businesses. While it's a cost-effective option for large companies, mass marketing can be expensive for small businesses. Small businesses that sell unique products or services may find more success with customized advertisements that appeal to specific audiences.

3. Competition

3. CompetitionCompanies that rely on mass marketing may face competition from businesses that use targeted advertisements. Customers might prefer customized marketing campaigns and specific products rather than a single good or service that tries to appeal to an entire market. Consumers may specialize their searches when looking for a product to purchase and avoid interacting with mass advertisements. Additionally, new companies that try to enter the market may face competition from established businesses that rely on mass marketing to attract a consistent customer base.

Consider the following model for the production of refined oil: MPC = 10 + 0.2Q;
In the process of producing, firms also pollute the air in the area. Assume MEC = 0.3Q;
The market demand for refined oil is MSB = 30 – 0.3Q; MEB = 0.

Use these relationships to answer the following questions:

1. (1 point) Calculate the competitive (or market) output and equilibrium price in this market.

2. (1 point) Calculate the efficient output and equilibrium price in this market.

3. (4 points) Graphically represent the MPC, MSB and MSC curves (make sure to label the axes). Make sure to indicate the value of efficient production (QE) and price (PE) levels as well as market output (QC) and price (PC) levels.

4. (1 point) Calculate the refineries’ marginal profit at the efficient equilibrium.

5. (1 point) Calculate the public marginal damage (negative benefit) at the competitive equilibrium.

6. (2 points) At Q=30, what is the minimum price (Pm) refineries would have to be compensated in order to decrease production? What would be the maximum price (PM) public users would be willing to pay to have production decreased?

Answers

Using the relationships given, Competitive equilibrium =  40, Efficient equilibrium = $22.5,  Marginal profit = 15 and public marginal damage = 12.

What is Marginal profit?

A firm or individual earns marginal profit when one additional or marginal unit is produced and sold. The marginal cost or profit earned when producing the next unit. The marginal product is the extra revenue earned, whereas the marginal cost is the additional cost of producing one more unit.

MPC = 10 + 0.2Q

MEC = 0.3Q

MSB = 30 – 0.3Q; MEB = 0

1. Competitive equilibrium

MSB = MPC

30 – 0.3Q = 10 + 0.2Q

20 = 0.5q

q = \(\boxed{40}\)

2. Efficient equilibrium

MSB = MEC  (Marginal social cost)

MSC = MPC + MEC

MSC = 10 + 0.2Q + 0.3Q

MSC = 10 + 0.5Q

That implies

30 – 0.3Q = 10 + 0.5Q

30 = 0.8q

q = 25 and

p = 30 - 0.3(25)

p = \(\boxed{\$22.5}\)

3. Attachment given for the graph

4. Marginal profit = Marginal social benefit - Marginal social cost

                             =  [30 - 0.3(25)] - [10 + 0.5(25)]

                             = (30+7.5) - (22.5)

   Marginal profit = \(\boxed{15}\)

5. MEC = 0.3q

At Competitive equilibrium, q = 40

MEC = 0.3(40)

MEC = \(\boxed{12}\)

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Consider the following model for the production of refined oil: MPC = 10 + 0.2Q; In the process of producing,

Bill wants to prepare his own taxes but wants a bit more guidance. He wants to file taxes without having to spend much money. What is his BEST option for filing taxes?

A. Prepare his taxes on her own.

B. Prepare his taxes with using an electronic tax program.

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Answers

Answer: B. Prepare his taxes with using an electronic tax program.

Explanation: had this question and got it correct!

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