If a manufacturing unit uses all its resources efficiently, the production rate of the unit will increase. The waste produced will be minimized and more profit will be gained. The manufacturing unit will also have a greater opportunity of being improved.<span />
Answer:
Explanation:
He will charge for smaller package Equal to consumer surplus of keno customer with q = 9
Price of small package = 1 / 2 * 9 * 9
=40.5
If veno willingness to pay for 9 updates is
= 1 / 2 * 9 * 9 + 9 * (42 - 9)
= 40.5 + 9 * 33
= 40.5 + 297 = 337.5
So he will get surplus of (337.5 - 40.5 = 297 by buying smaller package.
Veno willingness to pay for larger package = 1/2 * 42 * 42 = 882
To make veno buy larger package ,andy need to make sure that veno also get same CONSUMERs surplus by buying larger package.
So price for larger package = 882 - 297 = 585
Answer:
a) Cash basis - 2017
b) Accrual basis - 2016
Explanation:
Requirement a)
The wage expense would be reported in 2017 on the income statement under the cash basis. According to the cash basis accounting, the expenses have occurred only when the cash is paid. Therefore, whatever the employees did in 2016 would not be reported as an expense if they did not get the payment in 2016. Managers cannot apply the matching principle in Cash basis accounting.
Requirement b)
The wage expense would be reported in 2016 on the income statement under the cash basis. It matches with the matching principle. It is a matching concept example. According to the accrual basis accounting, the expenses would be reported whenever the employees performed for the company regardless of getting paid on that year or not.
Answer:
This is an example of:
4. product adaptation
Explanation:
Product adaptation is the process by which the management of a company changes product features to meet the needs of specific consumers. It can involve the improvement of a key feature that meets customer demand. This improves a company's competitive advantage over it's rivals. There are various reason as to why a product might need to be improved, namely;
1. To meet the regulatory standards in that particular area. Maybe the specification standards has changed, so the company also adjusts it's products to fit into the threshold of the required standards.
2. To make the product more attractive to a particular audience.
In general, product adaptation is meant to increase the market share especially in a business environment that is always changing with respect to customer needs and business regulations. An increased market share for the improved products usually translates to increased profit margins. Big profit margins is usually considered as a sign of success by most commercial businesses.
The type of hazard presented by an <em>insured failing to salt and shovel her sidewalk after a snowstorm is</em>; Morale hazard.
Discussion:
A hazard in the context of insurance describes anything that increases the potential for the occurrence of a loss. (An unintended, unforeseen event that causes injury to an insured or damage to property)
On this note, hazards are classified as one of four types:
A morale hazard, results from unintentional carelessness or laziness just as in the case described in the question.
Read more on insurance hazards:
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