Answer:
Population growth in developing countries will be greater due to lack of education for girls and women, and the lack of information and access to birth control.
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Answer:
The correct answer is binary variables.
Explanation:
A binary variable is one that can only have two possible values. They generally fulfill two essential characteristics:
1. They are made up of two exhausting values, which indicates that there is no other possibility of response. For example, a person is female or male.
2. Both values of the variable are exclusive, that is, it is not possible that both responses can be given, only one. In the same example above, a customer cannot be a woman and a man at the same time.
Answer:
a. keep producing in the short run but exit the market in the long run.
Explanation:
To answer the question, there is a need to look at the effect of the situation on the firm both in the short- run and the long-run
Short Run Effect
The Marginal cost is between average variable cost and average total cost. The business can still continue producing goods because the quantity being produced is still able to cover the average variable cost. This means that the firm is still able meet its variable costs by setting the price of its goods to its marginal cost which is an amount greater than its average variable cost.
Long Run Effect
However, in the long-run the company will begin to have issues even meeting other important costs such as the fixed costs associated with production and as such, the firm will need to exit the market in the long run. For instance the cost of long term loans (principal and interest) may not be covered by the net income of the firm.
Answer:
<u>First mover advantage</u>
Explanation:
First mover advantage refers to the process wherein a company gains competitive advantage over it's competitors due to being the first in an industry for coming up with a product or service or being the first one to employ a certain management system or technique.
A first mover gains advantage since by the time other market participants enter the arena, such a firm has already reaped bulk of the advantage.
In the given case, the steel manufacturing company adopted a new supply chain management system courtesy of which it is able to reduce the procurement time of raw materials considerably thereby leading to efficient production. It has also lead to reduction of costs and thus, has increased profitability.
This represents a case of first mover advantage achieved by the company owing to which it has gained a competitive advantage currently.
Answer:
c. $154,000.
Explanation:
According to the difference value technique, the average difference between audited value and book value for the sample should be replicated for the whole population of 4,000 accounts. The average difference per account is:
This means that the audited value is $1 greater than the book value for each account, assuming 4,000 accounts with a book value of $150,000, the audited value is:
Estimated total audited value of the population is: c. $154,000.
