Question Completion:
Domestic Market for Steel, Alpha
Qs P Qd
60 5 10
40 4 20
30 3 30
20 2 40
10 1 50
Domestic Market for Steel, Beta
Qs P Qd
80 5 20
70 4 30
60 3 40
50 2 50
40 1 60
Answer:
Assuming that Alpha and Beta are the only two nations in the world, at the equilibrium world price:
Beta will export steel and Alpha will import steel.
Explanation:
a) Data and Calculations:
Domestic and World Market for Steel
Alpha Beta World Market
Qs P Qd Qs P Qd Qs P Qd
60 5 10 80 5 20 140 5 30
40 4 20 70 4 30 110 4 50
30 3 30 60 3 40 90 3 70
25 2.50 35 55 2.50 45 80 2.50 80
20 2 40 50 2 50 70 2 90
10 1 50 40 1 60 50 1 110
b) In the world market, equilibrium will occur at a price of $2.50, when the quantity supplied and demanded will be 80. At this equilibrium price of $2.50, Alpha will supply 25 units, and Beta will supply 55 units. Alpha will demand 35 units, and Beta will demand 45 units. This implies that Beta will supply more than its demand for steel, while Alpha will supply less. Therefore, Beta will export steel and Alpha will import steel.
Answer:
D) Tenants in common
Explanation:
To be tenants in common you must be part of a tenancy in common agreement. A tenancy in common agreement is a situation in which 2 or more people hold interest in a property and each owner has the right to leave their share of the property to a beneficiary upon their death.
This doesn’t mean you own separate parts, but that you have separate interest in the whole property.
Tenants in common can have different ownership interests, e.g. Smith may own 60% of a property and Michael may own 40%.
Answer:
a. Total Income=$152,500
Marginal Tax rate = 17.3%
Explanation:
Total Income=Taxable Income+Additional Income = $92,000+$60,500=$152,500
Marginal Tax rate = 17.3%
Answer:
True
Explanation:
If lean production totally eliminates inventories, the net operating income computed under the absorption and variable costing methods should be equal. If lean production only reduces inventories, then the difference in net operating income under the two methods will be reduced.
Lean production is a system of production that tries to eliminate bottlenecks in the flow of goods by employing tools like just in time (JIT), Kaizen, and the 5S of Sort, Set in Order, Shine, Standardize, and Sustain, among others. It attempts to cut costs, reduce unnecessary inventory, shorten production cycle, speed response time, grant employees autonomy, and reduce waste of resources while ensuring high quality and customer satisfaction.
Lean production employs some principles in order to achieve efficiency. They are: 1) definition of value, 2) mapping the value stream, 3) creating efficient flow, 4) using a pull system, and 5) pursuing perfection in all aspect of production activities. The Lean approach can be applied to services and other aspect of business, like system, structure, and organization.
Answer:
c. An online retailer delivers organic groceries overnight.
Explanation:
As Different companies in different industries follow any one of the five general strategies to gain competitive advantage.
so The online retailer distributes organic groceries overnight, using a low-cost provider strategy. This is due to the intense competition in online retailing.
so correct option is c. An online retailer delivers organic groceries overnight.
