Answer: a) 1
b) yes marginal rate of substitution is less than the relative price
c) 2.00
Explanation:
a) Raul’s marginal rate of substitution is 1 because he is only willing to trade 1 cal card for 1 additional Nolan card
b) Raul’s marginal rate of substitution is Mc/Mn = 1 However, the relative price of a Cal Ripken card is Pc/Pn = $24/$12 = 2.00. Since the marginal rate of substitution is less than the relative price, Raul can make himself better off by selling 1 Cal card and buying Nolan cards.
c) His marginal rate of substitution must be equal to the relative price; the relative price rule holds that says that Mc/Mn = Pc/Pn. From b above we know that the relative price is 2.00, Raul's marginal rate of substitution must also be 2.00.
Answer:
Clan culture
Explanation:
The word "clan" refers to a group of people who belong to the same family.
Clan culture in organizational context, refers to treating employees and customers as if they form part of a family.
Such a culture is driven by common agreement and goals and carrying on similar values and beliefs.
In the given case, at the coffee house, the owners aim for group unity and employees customers alike are treated as if they represent one family. This indicates clan culture being followed at State Street Coffee.
The use of teams in the workplace has increased so dramatically because using team work will enable a company to take on additional works without having to employ more staff. This will result in more revenue and profits for the company. Using team work has some great benefits, which include: increased efficiency, idea generation, enhanced communication, support network, shared workload and a great learning experience.
Answer:
The correct answer to the following question is option B) the salary of the corporation president.
Explanation:
In the given question , all the options except option (B) , would be assigned to a particular product , while segmenting on a income statement. A product advertising cost which a company incurred while promoting the product, the direct material cost which a company while in the production of project and a production managers salary would also be included in the product cost. A corporations president who is in the higher level of management in the company, is responsible for making decisions regarding company's vision , strategy development , public relations etc , his or her salary would not be included in product cost.
