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ioda
3 years ago
15

When most cars sold in the United States were produced by the Big Three auto companies, General Motors would announce its prices

for the new model year first and then the other companies would match it. This practice was an example of:
Business
1 answer:
photoshop1234 [79]3 years ago
5 0

Answer: Price leadership    

Explanation: In simple words, under price leadership strategy the dominant firm in the industry sets the prices for their products in the first place and then after that the other competing firms sets their prices following that dominating firm.

In the given case, the general motors is practicing price leadership as they are setting the prices in the market initially which is then matched by other firms.

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Jacobi Supply Company recently ran into certain financial difficulties that have resulted in the initiation of voluntary settlem
Mashcka [7]

Answer: Composition

Explanation:

The company owes $150,000 and would pay $0.50 on every dollar immediately.

The cash payment required of the company would therefore be:

= Amount of debt in $ - Amount to be paid per dollar.

= 150,000 * 0.5

= $75,000

Timing of payment is immediately.

A composition refers to an agreement between a debt and its creditors that would allow it to pay off part of its debt in lieu of the total value. This is usually done when the debt risks being insolvent or bankrupt but can still pay off part of its debt.

The agreement would enable it pay off some of the debt and the entire debt would be written off. The benefit to the debtor is that they avoid bankruptcy and the benefit to the creditor is that they get more than they would have gotten had bankruptcy been declared.

A composition is what happened here as a part of debt was paid to satisfy the full thing.

5 0
2 years ago
Mitch is a director and officer of Numero Uno, Inc. Mitch makes a marketing decision that results in a dramatic decrease in prof
Stells [14]

Answer:

As long as Mitch acted in good faith and tried to make the best possible decision regarding all available information, and his decision was something that any other person could have made, his mistake has to be considered a bad or negative business judgement (business judgement rule). He thought that his actions would benefit the corporation, but he was wrong and the corporation lost money. That types of mistakes are considered normal and just that, mistakes that anyone can make.

In regards with the second issue, that Mitch is a shareholder and a director of a firm that will directly compete with Numero Uno, he must inform the board about this and resign to either Numero Uno or One of a Kind.

6 0
3 years ago
Tom is a junk remover who occasionally finds rare antiques to sell. He uses an online auction site to sell each antique for the
Hunter-Best [27]

Answer:

Option (b) is correct.

Explanation:

There are three types of price discrimination:

(i) First degree price discrimination or Perfect price discrimination

(ii) Second degree price discrimination

(iii) Third degree price discrimination

Perfect price discrimination refers to a situation in which the selling price of the product is equal to the price that a consumer willingness to pay for the product. This is a situation in which there is no consumer surplus.

Consumer surplus = Actual price paid by the consumer - Willingness to pay for the product

4 0
3 years ago
What are the six characteristics of money? explain how the u.s. dollar has those six characteristics?
Leya [2.2K]
1. durability- objects used as money must withstand physical and tear
2. portability- people need to be able to take money with them as they go about their business
3.divisibility-to be useful, money must be easily divided into into smaller denominations, or units of value
4.uniformity- any two units of money must be uniform or the same in the terms of what they will buy.
5.limited supply- money must be available only in limited quantities
6.acceptability- Everyone must be able to exchange the money for goods and services
5 0
3 years ago
Terri, age 16, is a dependent of her parents in 2020. During the year, Terri earned $5,000 in interest income and $3,000 from pa
aleksandrvk [35]

Answer:

A. $4,650

B. $1,750

C. $2,900

Explanation:

A. Calculation to determine Terri's taxable income

TAXABLE INCOME

Earned income $3,000

Add Unearned income $5,000

Gross income & AGI $8,000

($3,000+$5,000)

Less: Standard deduction ($3,350)

(Greater of either $3,000 or $1,050 income earned +$350)

Taxable income $4,650

($8,000-$3,350)

Therefore Terri's taxable income is $4,650

b. Calculation to determine How much of Terri's income is taxed at her rate

TAXED AT TERRI'S RATE​

Taxable income $4,650

($8,000-$3,350)

Less: amount taxed at parents' rate ($2,900)

($5,000-$2,100)

Taxed at Terri's rate​ $1,750

Therefore The amount of Terri's income that is taxed at her rate is $1,750

c. Calculation to determine How much is taxed at her parent's rate

TAXED AT PARENTS' RATE:

Net unearned income=$5,000-$2,100

Net unearned income= $2,900

($5,000-$2,100)

Therefore The amount of Terri's income that is taxed at her parent's rate is $2,900

6 0
3 years ago
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