What Xmas product did Sir Henry Cole produce in 1843?

the following payoff matrix is for two players, each with two strategies: what is player 2's dominant strategy in this game? alw

barxatty [35]

Player 2 does not have a dominant strategy in this game.

What is dominant?
To be dominant is to exercise power. One male wolf in a pack engages in combat with the others, prevails, and rises to the position of leader. Dominus, which means "lord or master" in Latin, is where the word dominant originates. This is one of many names for God that you may be familiar with if you attended a Latin mass as a child. If you treat others as though you are their master, you are dominant. The word dominant can also be used to describe something frequent as well as typical. For instance, making calls was the primary function of cell phones when they first became available. Some people hardly ever make calls on their cell phones because they can do so much more now.

A dominant strategy is one that provides the best outcome regardless of what strategies the other player chooses. In this game, if Player 1 cooperates, then Player 2's best strategy is to also cooperate. However, if Player 1 cheats, then Player 2's best strategy is to cheat. Therefore, Player 2 does not have a dominant strategy because the best strategy depends on what Player 1 does.

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8 0

1 year ago

What are some of the primary reasons a company decides to expand internationally? Identify a company in the news that has recent

nignag [31]

Answer:

Primary reasons a company would decide to expand internationally are as follows:

Expanding markets and increasing sales are one of the primary reasons.
Companies get globalized in order to become a market leader.
The company may choose to enter into international market in order to diversify a company's product line.
Markets and investments would be protected by companies once they enter into international market and get engaged in an international business.
Controlling the expenses is again one of the most important reasons. Company would buy the resources to gain cost advantage.
For example, the company which is located in Canada gets most of their resources from China; the company would look forward to get situated near China.
Another reason would be, to get protected from their competitors or to gain advantage over them; the company would decide to expand internationally.

The three motivational factors that induce a company to go global are as follows:

Economies of Scale — The advantage that a company gain through mass production to achieve the lowest possible production cost per unit.
Economies of scope — The advantage that a firm gains by producing different varieties of products and services and at different regions.
Low-Cost Production Factors — It is an opportunity to purchase the resources at the lower possible cost.

Jaguar Land Rover decided to manufacture cars outside the UK for the first time. In recent years, it has rapidly expanded in its home UK and the company is planning to go to Brazil and implement the strategies that they had implemented in India.

Jaguar Land Rover moves to other countries to gain the opportunity of producing at a lower price and to gain economies of scale.

3 0

3 years ago

Indiana Co. began a construction project in 2021 with a contract price of $163 million to be received when the project is comple

iragen [17]

Answer: Recognized $12.68 million gross profit on the project in 2022

Explanation:

Firstly we would need to ascertain the percentage of completion in 2022. We will do this by using the costs.

The cost incurred till date is,

= $32 million (incurred in 2021) + $59 million (incurred in 2022)

= $91 million. (1)

A further $37 million is estimated to remain in costs by project completion so the total cost would be,

= $91 million + 37 million

= $128 million is the total cost to be incurred. (2)

Dividing (1) by (2) to find out how much costs have been incurred vs how much is life we have,

= 91 / 128

= 0.7109

= 71 %

71 % of the project has been completed.

We will now find out the revenue for that very year using the percentage of the project completed.

The Total Revenue is $163 million so we will take 71% of that,

= 0.71(163)

= $115.73 million can be recognized as revenue TILL DATE. (3)

To find out the Revenue for the year then we can deduct the revenue of the previous year from the Revenue till date to find out the revenue for 2022.

But first we need to find the revenue of 2021 using the same method we used to calculate the Revenue this far

= 32 million / (32 + 86 million) * 163 million

= $44.01 million in revenue in 2021 (4)

Subtracting (4) from (3) to get the revenue for 2022 we have,

= 115.73 - 44.01

= $71.72 million is therefore the revenue for the year 2022

Calculating the gross profit for the year 2022 then we can subtract the cost in 2022 from the revenue for 2022.

= 71.72 million - 59 million

= $12.72 million

The answer we got is off by $0.04 from option C so we will pick Option C as the correct answer with the discrepancy going down to rounding off errors in the Intermediate Calculation.

8 0

3 years ago

Consider a basket of consumer goods. The basket of goods costs $72.00 in the United States. The same basket of goods costs 224.0

Strike441 [17]

Answer:

4.5 and 9

Explanation:

Basket of goods in US=$72.00

Basket of goods in Mexico=224.00 pesos

Nominal exchange rate= 14.00 pesos per dollar

Real Exchange Rate = (Nominal Exchange Rate x Price of the Foreign Basket) / Price of the Domestic Basket

=(14.00 pesos ×$72.00) / 224.00 pesos

=1,008/224.00

=4.5

Nominal exchange rate increased from 14.00pesos per dollar to 28.00 pesos per dollar

Real Exchange Rate = (Nominal Exchange Rate x Price of the Foreign Basket) / Price of the Domestic Basket

=(28.00×$72.00)/224.00 pesos

=2,016/224

=9

Consider a basket of consumer goods. The basket of goods costs $72.00 in the United States. The same basket of goods costs 224.00 pesos in Mexico. The nominal exchange rate is 14.00 pesos per dollar. The real exchange rate between U.S. and Mexican baskets of goods is 4.5 baskets of Mexican goods per basket of U.S. goods. Now suppose the nominal exchange rate increases from 14.00 pesos per dollar to 28.00 pesos per dollar. If the prices of the basket remain unchanged in both the United States and Mexico, the real exchange rate between the U.S. and Mexican baskets of goods will 9 to baskets of Mexican goods per basket of U.S. goods.

8 0

3 years ago

Miller Mining, a calendar-year corporation, purchased the rights to a copper mine on July 1, Year 1. Of the total purchase price

dybincka [34]

Answer: <u>$4,500</u>

Explanation:

Equipment was purchased for $76,000.

It has an estimated useful life of 8 years.

It will be sold for $4,000 after these 8 years so that is the salvage value.

With these figures depreciation per annum is calculated with the following formula;

$Depreciation per annum = \frac{Cost of Asset - Salvage Value}{Useful life}$

= $\frac{76,000 - 4,000}{8}$

= $9,000

The Equipment was purchased on July 1, Year 1. In Year 1 therefore it will only be in use for half the year and this is what it should b depreciated in light of.

Semi-annual Depreciation = 9,000/2

= <u>$4,500</u>

7 0

3 years ago