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1 year ago

In a competitive market equilibrium, the allocation of the social surplus is such that ____________.

1 answer:

6 0

In competitive market equilibrium, the allocation of the social surplus is such that no individual can be made better off without making someone else worse off.

The phrase "competition equilibrium" refers to an equilibrium condition when the firm's goal of maximising profits and the customers' goal of maximising utility both aspire to reach an equilibrium price as a result of freely determined prices.

According to the theory of competitive equilibrium, the firm's supply of the product is equal to the market's demand for that same amount of the product. It is a circumstance in which neither the buyer nor the seller can strengthen their bargaining position with regard to the goods being sold.

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Activity-Based Costing: Selling and Administrative Expenses

lutik1710 [3]

Answer:

a) Total Sales order $60,000 and total Shipping is $28,000

b) Per unit sales order processing cost = $2.18 and shipping activity cost per walking shoe = $1.02

Explanation:

The question is divided into two parts

Part 1 ) Determine the Total Activity Cost as follows

Activity Order Rate Total (Order x rate)

Sales Order Processing 5000 orders $12/order $60,000

Shipping 1400 shipments $20/shipmt $28,000

Total $88,000

Part 2)

a) Per-unit sales order processing cost

What is the sales order activity cost $60,000 and the number of walking shoes =27,500

Therefore Per unit cost = $60,000 / 27,500 = $2.18 per unit

b) Shipping activity cost per walking shoes

Shipping cost = $28,000 and the number of shoes 27,500

Per Unit Cost of shipping = $28,000/27,500 = $1.02 per unit

The total Activity cost therefore is $2.18 + $1.02 = $3.20

3 0

3 years ago

Alex, an American, was invited to a formal dinner by his French manager. He was not sure about the correct flatware to be used f

Darina [25.2K]

Answer: Modeling

Explanation: Alex is modeling the behavior of others on the dining table to know the right flatware to use because he isn't sure of the correct one to use.

Modeling someone's behavior means to observe their behavior and trying to imitate them.

6 0

3 years ago

- Name the six business management perspectives that go beyond planning, controlling, and decision making?

wel

Answer 4:

Following are the six business management perspective:

Ethical Stance
Strategic aspects of the decision
Risk Management
CSR Aspect
Process Management Aspects
Leaders Perspective

Answer 5:

IMA stands for Institute for Management Accountants.

The IMA Statement of Ethical Professional Practice has listed following four standards for the professionals who are member of IMA to comply with:

Competence: The member must be competent in his role in accordance to his experience, skills, knowledge, complying laws & regulation and always acting ethically.
Confidentiality: Must not breach the confidentiality implied duty on him except in situations when disclosure of information is mandatory by law.
Integrity: Must be straight forward and there must be no self interest in his dealings with the company and must considerably reduced.
Credibility: Communicate the results with unbiased decision making.

Answer 6:

Because freedom does not means that our self interest is everything. We owe duty of care to people who rely on our acts. An accountant, auditor or internal auditor must act ethically or universally that benefits everyone without breaking the laws and ethical duties imposed by the professional bodies. If we go back to Enron case, we see that the External auditor was not acting in the public interest and as a result Enron which was the world's first $100 billion dollars company collapsed. The collapse of Enron bankrupt many pension companies which further affected the lives of the ordinary person in the USA. Furthermore, due to collapse of Enron, a lot of people withdraw the amount invested in Stock exchange. Dozens of companies and millions of people suffered from this unethical behaviour of professionals.

Answer 7:

Corporate Social Responsibility means that the company is just like an human being and its operations must not harm the environment, so this the least duty which the stakeholders expect from them. Being a good social beings, the companies must try to stable the environment situation in its surrounding and wherever its stakeholders live. For Example, The refinery companies have stopped poluting the oceans with their oil spills, now they have opted to newest technology that will eliminate the harmful effects of their oil spills and bring stability in the environment.

Another example includes the lower usage of natural resources. In UK it is the companies responsibility to reduce its natural resources usage which will lower the pollution. This additional care has a cost and may lead to lower competitiveness of the products so there must be a law globally that enforces to act socially responsible.

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3 years ago

The use of a differentiation strategy would be expected to be LEAST effective in which of the following markets? a. Commodity go

Tema [17]

Answer:

The correct answer is letter "A": Commodity goods.

Explanation:

A differentiation strategy is an approach adopted by companies to make the goods or services they offered unique compared to their competitors. Most firms tend to use price as the main key to the difference between their products and the competitors'.

Thus, <em>the differentiation strategy is less likely to be applied in commodity goods because they are inherently unique such as oil, natural gas, precious metals or foreign currencies</em>.

3 0

3 years ago

Akika Corporation started as a small firm and has grown substantially in the past decade. Its interests span from electronics to

lakkis [162]

Answer:

a. Unity of direction

Explanation:

Unity of direction: In this principle, the direction of work is given by the higher authority with a view to achieving the organizational objective.

Division of work: In this principle, the work is divided between many subordinates/ employees, so that the task should be done in proper time and in an efficient & effective manner.

Scalar chain: This scalar chain represents the rank from high authority to low authority in a straight line so that proper communication/ cooperation can be done without any misunderstanding.

Unity of command: In this principle, the employees are responsible for only one person/ one supervisor/ one commander.

In the given scenario, the unity of direction principle applies as the board of directors wants to establish an independent business so that each domain objective can be achieved so that it becomes to accomplish the organizational objective.

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3 years ago