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2 years ago

What is possession utility?

Business

1 answer:

katrin2010 [14]2 years ago

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b.) The Value added to a product by transferring ownership to the customer.

is the answer

Explanation:

Possession utility explains and possibly contains the gratification that arises from owning a product or using a service. Buying and selling of anything include the change of ownership from one to another. Possession utility is what lets customers asses what they purchased. Having versatile choices for payment is one way to make possession simple for customers. Other methods can be how the product is delivered, how quickly it is delivered. Possession utility gets down to knowing how people relish what they have and what they give others. Although possession utility is peculiar, it is also significant and usually results after some kind of legal exchange.

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Bellsouth Mobility (BM) ran a pricing trial in order to estimate the elasticity of demand for its services. The manager selected

hichkok12 [17]

Answer:

The manger did not make a mistake

To determine the effect that an increase in price would have on revenue, we have to determine the price elasticity of demand.

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price

Price elasticity of demand = percentage in quantity demanded / percentage change in price

4% / 5% = 0.8

The elasticity of demand is less than 1, this means that demand is inelastic

When demand is inelastic, if price is increased, the fall in quantity demanded would be less than the increase in price. As a result, if price is increased total revenue would fall.

Based on the manger's calculation, demand is inelastic, so she was not wrong in increasing price.

Explanation:

6 0

2 years ago

According to the insurance institute for highway safety injuries the most common injury in the US due to front or rear crashes c

vfiekz [6]

Answer:

Explanation:

The Insurance Institute for Highway Safety (IIHS) is known to be an independent body or organization. It is a nonprofit scientific and educational organization solely aimed to reducuction of the losses and deaths, injuries and property damage as a result from motor vehicle crashes. In US, due to front or rear crashes cost more than 6 billion dollars a year is being spent on injury.

5 0

2 years ago

On January 1, 2018, Gridley Corporation had 375.000 shares of its $2 par value common stock outstanding. On March 1, Gridley sol

Allushta [10]

Answer:

weighted-average shares outstanding: 1,075,000

Explanation:

We need to multiply by the shares movements by the months remaining to complete the year. Thus, assinging a weight to each share.

Jan 1st: 375,000 x 12/12(all year) = 375,000

March 1st: 750,000 x 10/12(from March 1st to Dec 31th) = 625,000

May 1st: 20% stock dividends: (375,000 + 750,000) x 20% x 8/12 =

225,000 x 8/12(May 1st to Dec 31th) = 150,000

August 1st: (420,000) x 5/12(August 1st to Dec 31th) = (175,000)

November 1st: 600,000 x 2/12(November 1st to Dec 31th) = 100,000

375,000 + 562,500 + 150,000 - 175,000 + 100,000 = 1,075,000

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2 years ago

What is a natural monopoly?

Lubov Fominskaja [6]

Answer:

D. A monopoly that results when one firm is able to produce at a lower cost than multiple firms, giving large firms with higher levels of output an advantage over smaller competitors.

A. Municipal Power Light, the local supplier of electricity.

Explanation: A natural monopoly is a monopoly enjoyed by a firm due to its large nature through which it is able to enjoy Economies of scale and produce at a reduced cost which other companies are unable to meet up with.

WITH A NATURAL MONOPOLY, A FIRM HAS A CONTROL OVER THE PRICE OF THE PRODUCT PRODUCED AND SERVICE RENDERED AS THERE ARE NO CLOSE SUBSTITUTE.

The municipal Power light, the local supply of power is an example of a firm that can enjoy Natural monopoly.

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2 years ago

applied vs. actual manufacturing overhead davis manufacturing corporation applies manufacturing overhead on the basis of 150% of

Mashcka [7]

Answer:

Subapplication of 22,500

journal entry:

WIP 4,500 debit

finished goods 2,250 debit

COGS 15,750 debit

factory overhead 22,500 credit

Explanation:

Direct Labor cost during the year:

60,000 + 30,000 + 210,000 = 300,000 direct labor

Applied overhead:

cost driver x predetermined rate

300,000 x 150% = 450,000

Actual overhead: 472,500

Subapplication of 22,500

as this is a significant amount we must adjust the WIP inventory, cost of goods sold and fnished goods inventory

to know the adjustment on each account we calcualte each account percentage:

300,000 --> 22,500

60,000 --> 60,000/300,000 x 22,500 = 4,500 endingWIP

30,000 --> 30,000/300,000 x 22,500 = 2,250 finished goods

210,000--> 210,000/300,000 x 22,500 = 15,750 COGS

we do the adjuting entry to increase overhead and transfer into each concept

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3 years ago