Answer:
Government Legal minimum price = $1.20 is case of 'Binding Price Floor'
Explanation:
Price Floor is the minimum base benchmark for price of a good or service. It is usually 'binding' i.e below the equilibrium price, is done to protect the producers from under pricing, based on free market forces. Example : Minimum Support Price for farmer's agricultural products.
In this case, the price floor (minimum mandated price) is in labour market for price of labour i.e wages. It is binding also, since it imposes the minimum price (wage) floor at - wage level greater than the wage as per free market demand & supply forces. Also, it is in interest of sellers (labour sellers here) analogous to farmers MSP previous example.
Answer:
$118.83 per month that Zach must save.
Explanation:
This is a future value annuity as we know the cruise will cost $16500 in 4 years time as estimated by Zach for the cruise.
Fv is the future value for the annuity which is $16500
we also have i the interest rate which is 3.99% monthly
n is the number of periods in which the monthly amount is saved 4 x 12 =48
now we will substitute to the following formula and solve for C the monthly payments that Zach saves for the cruise:
Fv =C [((1+i)^n -1)/ i] now we substitute
$16500 = C[((1+3.99%)^48 -1)/3.99%)] then solve for C
$16500/[(1+3.99%)^48 -1)/3.99%] = C
C = $118.83 that Zach must save per month for 4 years to afford the cruise.
Answer:
option d) approximately 84%
Explanation:
Data provided in the question:
Mean, m = $92
Standard deviation, s = $13
Now,
we have to calculate percentage of homes will have a monthly utility bill of more than $79 i.e P(X > 79)
also,
P( X > 79) = 1 - P( X < 79)
Z-score for (X = 79 ) = 
Z = 
or
Z = -1
From the standard Z value vs P table, we have
P( Z < -1 ) = 0.1587
Thus,
P( X < 79) = P( Z < -1 ) = 0.1587
therefore,
P(X > 79) = 1 - 0.1587
or
P(X > 79) = 0.8413
or
= 0.8413 × 100%
= 84.13%
Hence,
option d) approximately 84%
Answer:
used to identify major stockholders
Explanation:
Environmental scanning is a management strategy that focuses on systematically acquiring informations about occasions, trends, events or patterns through surveys and analysis of these information in an organisation's external and internal environment. The informations acquired through environmental scanning is then used by the executive management in strategically planning the organisation's future and exploitation of available opportunities for the success of the organization.
The internal environmental scanning offers an organization strength and weakness while the external environmental scanning provides information about opportunities and threats.
Generally, the external environmental scanning gives an overview of the opportunities in the market as well as potential threats to an organization.
Hence, the following are descriptive of an external environmental scanning;
1. Used as a tool for corporations to avoid strategic surprise.
2. Used to monitor, evaluate, and disseminate information relevant to the organizational development of strategy.
3. Used to determine a firm's competitive advantage.
4. Used as a tool to ensure a corporation's long-term health.
Some of the changes that may pose a great opportunity for business are: (1) change in the demands of the consumers (it may be in style, taste, etc) (2) rapid technology, (3) global banking opportunities, and lastly (4) government enhancing ties with the private owners of different business units.
