Psychology is the study of behavior and the minds functions.
Answer: $124800
Explanation:
First, we have to calculate the ammortization expense which will be:
= $468000 / 10
= $46800
May 2019 = ($46800 × 8/12)
= $31200
December 2020 = $46800
December 2021 = $46800
Ammortization expense will now be:
= $31200 + $46800 + $46800
= $124800
Answer:
Roger used the technique of "responding to every concern by the customer" for building positive customer relations.
Explanation:
Building up strong customer relationships includes following techniques:
- Communication which means inquiring customer needs and wants, listening to them, providing them information.
- Exceeding Customer Expectations
- Providing Value in the form of quality products and services
- Responding to every concern which means taking each and every question, doubts or concerns of a customer seriously and providing them with the required information.
In the given case, the moment Roger knew that he wasn't sure of the information asked for, he immediately rang up his superior to get the exact correct information so as not to disappoint the customer.
This technique relates to responding to every concern by a customer.
<em>Patents protected inventors and let them profit from their inventions</em>
<em>~Luis~</em>
Answer:
(a) $7; $205 million
(b) $9; $195 million
(c) $400 million
(d) $390 million
(e) Loss = $10 million
Explanation:
(a) Price paid by consumers when no tariff imposed:
= Marginal cost + Distribution cost
= $6 + $1
= $7
Quantity demanded:
Q = 240 - 5P
= 240 - 5 × $7
= 240 - $35
= $205 million pounds
(b) At imposed tariff of $2 per pound, then the new price paid by consumers:
= Marginal cost + Distribution cost + Tariff
= $6 + $1 + $2
= $9
New quantity demanded:
Q = 240 - 5P
= 240 - 5 × $9
= 240 - $45
= $195 million pounds
(c) Lost consumer surplus:
= ($9 - $7)($195) + (0.5)($9 - $7)($205 - $195)
= ($2 × $195) + (0.5 × $2 × $10)
= $390 + $10
= $400 million
(d) Tax revenue collected by government:
= Quantity demanded under tariff × tariff
= $195 × $2
= $390 million
(e) Tax revenue of $390 million received is less than the value of coffee sold under tariff $400 million.
Loss = $400 million - $390 million
= $10 million