Answer:
Explanation:
To answer this question, we first need to calculate the marginal utility per dollar for doughnuts. Recall that the marginal utility per dollar for a good is the marginal utility divided by the price of the good (=MU/P). For the first doughnut we have 10 (=10/$1), the second doughnut 9(=9/$1), third 9, fourth 8, fifth 7, sixth 6, seventh 5, eighth 4, ninth 3, tenth 2 and eleventh 1. The marginal utility per dollar for every cup of coffee is 5.5 (=5.5/$1). To determine how big the budget would have to be before Omar would spend a dollar buying his first cup of coffee, we compare the marginal utility per dollar values. Omar will purchase the first doughnut before he buys a cup of coffee because the marginal utility per dollar for the doughnut is greater than the marginal utility per dollar for the cup of coffee (10>1.5). The same is true for the second through the eighth doughnut. This implies Omar will buy 8 doughnuts at the price of $1 before he buys his first cup of coffee. Therefore his budget will need to $9 before he buys his first cup of coffee, $8 on the doughnuts and $1 for the cup of coffee.
Answer: $8
Answer:
a. either the economy must be producing a larger output of goods and services, or goods and services must be selling at higher prices, or both
Explanation:
Total Spending is the total values of goods & services produced & transacted ( bought, sold ) in an economy, during a period of time.
Total Spending = Price of goods,services x Quantity of goods,services
So, if the total spending increases : It implies that either the quantity of goods & services, or their prices, or both have increased. As, amount spent is a product of both of them.
Answer:
Ellison Company should recognize compensation expense on its books in the amount of $600
Explanation:
Solution
The transaction in the books of Ellison Company during the period of July 1st 2010 to December 31st 2010
On July 1st the share value was $30 *400 = 12000
On October 1st 2010 sold at $ 36 * 400 = 14400
The gain on this transaction was = $2,400
31st July 2010, less compensation expenses =$ 1,800
The fair vale to be recorded as a gain = $ 600
<u>Solution and Explanation:</u>
The following would be the specifications of the training module for the cashiers:
1. There would be multiple modules consisting of the job responsibilities as refresher courses and at the same time, the new market conditions and additional job related things that they must be doing in the near future would be the other modules.
2. The key areas that the multi module training program would be focussing on would be, customer relationship training, system and data maintenance training, documentation and accounting module
3. The training intervention would be preferably on job and alongside there would be a mentor/coach allotted to the cashiers who are experts in the field preferably store managers and functional experts. For the system related modules, they would be having simulation based modules. Only during the non rush-hours there would be offline training and update sessions with respect to the progress made on their training and the productivity improvement they have achieved over the past week.
The incentives associated with the productivity improvement would be translated into incentivising the cashiers to take up the training modules. The weekly update on the productivity improvement and the progress in their training would inturn make them competitive in nature. While coming to why such distribution has been done with respect to the modules, essentially if we look at the job of the cashiers, it’s a round the clock job and they would lose out on precious working hours if the training is done on an offline basis.
The simulations would definitely help understand the process but the on job training would be the one that is standing out, as they would be continuing their task and at the same time, the result is right in front on them to experience and therefore the distribution of the modules to not stress them out and at the same time not losing out on their time as well.
Answer:
c. faces a downward-sloping demand curve for its product
Explanation:
Perfect Competition is a market form, having large no. of sellers, selling homogeneous products at constant prices. So, constant prices imply that their demand curve is horizontal, perfectly elastic.
Monopolistic Competition is a market form, having many sellers, selling slightly differentiated products which are incomplete substitutes of each other. The prices also vary from firm to firm, depending on product quality. So, these firms have usual downward sloping curve, denoting price-demand inverse relationship.
