Answer:
the difference between the price a seller receives for a good and the minimum price for which he would have sold the good.
Explanation:
Producer surplus is the difference between the price a seller sells her goods and the least price she would be willing to sell her goods.
Consumer surplus is the difference between the price a buyer pays for a good and the highest price he would have paid for the good.
I hope my answer helps you
Answer:
D. Selling on non-price factors, such as design or customer service
Explanation:
One of the main goals of a Focused differentiator strategy in business is to is to secure a competitive advantage over competitors by offering products that appeal to specific non-price and unique preferences of customers.
The strategy is to go for <u>products that will appeal to a well-defined group of buyers</u>. This strategy is the opposite of the Broad Differentiation strategy that aims at different or multiple market segments or multiple buyer groups for a product.
A good example is the development of a particular high-end product car manufacture line which is specifically targeted at high-end citizens in a society who will go for them despite their costs just because of their premium looks, additional features (off-road capabilities, 0-60 miles in 4 seconds and leather trimmings) among others. This is a focused differentiator
Answer:
e. None of these.
Explanation:
The deductible expenses are expenses that are wholly, necessarily and exclusively for business purpose. This excludes the entertainment cost which is the only avoidable cost in the classes of cost given.
Hence, Sophie's deductible expenses are
= $3,000 + $800 + $600
= $4,400
Answer:
UCL(p) = 0.157
LCL(p) = 0
Explanation:
Number of samples (n) = 10
Size of sample (n) = 100
We compute the defective rate P as below
P = 7 + 9 + 9 + 11 + 7 + 8 + 0 + 11 + 13 + 2 / 10 * 100
P = 77 / 1000
p = 0.077
We derive σP / value of standard deviation of the sampling distribution as shown below
σP = √P * (1-P) / n
σP = √0.077 * (1 - 0.077) / 100
σP = √0.077 * 0.923/100
σP = √0.071071/100
σP = √0.00071071
σP = 0.02665
Now we calculate the Upper Control chart limit:
UCL(p) = P +Z*σP
UCL(p) = 0.077 + 3*0.02665
UCL(p) = 0.077 + 0.07995
UCL(p) = 0.15695
UCL(p) = 0.157
Now we calculate the Lower Control chart limit:
LCL(p) = P - Z*σP
LCL(p) = 0.077 - 3*0.02665
LCL(p) = 0.077 - 0.07995
LCL(p) = -0.00295 (Negative defect cannot go beyond Zero)
LCL(p) = 0
Answer:
A chart of accounts is the list of the accounts in a given firm’s ledger.
Explanation:
Chart of accounts: It is a chart which shows different types of accounts in a firm ledger. The accounts like - Assets, liabilities, revenue, expense, and shareholder equity.. Mainly these are the accounts types or we can say chart of accounts which is shown in the firm ledger
In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:
Total assets = Total liabilities + stockholder equity
The debit and credit side of the balance sheet should always be equal and balanced. Moreover, it always is prepared on the specified date.
In the income statement, the total revenues and the total expenses are recorded. If the total revenues are more than the total expenditure then the company earns net income
. And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
