Answer:
Option b.
Explanation:
In standard cycle, competitive actions are designed to serve large market shares, to gain customer loyalty and to control the firm's operations which in turn provide the same positive experience to customers.
Goods or services in standard-cycle markets reflect <u>organizations that serve a mass market.</u>
Standard-cycle markets refer to the markets where the firm's competitive advantages are shielded from imitation such that those advantages can be sustained longer but for a shorter period.
These advantages can be sustained for longer period in a slow-cycle market than in fast-cycle markets.
Competitive advantages are sustainable in slow-cycle as these are shielded from imitation for longer periods of time such that imitation is costly.
Option b. is correct
Answer:
It isn't a violation of the law of demand. It is as a result of the elasticity of demand.
A tax is a compulsory sum levied on a good or service. Taxes increases the price of products. In determining whom should bear the greater burden of the tax between the consumer and the seller, elasticities are usually considered. The party with either a relatively inelastic supply or demand bears the greater burden of tax while the party with the more elastic demand or supply bears less burden of tax.
Demand (supply) is elastic if a small change in price has a greater effect on the quantity demanded (supplied).
Demand (supply) is inelastic if a small change in price has little or no effect on the quantity demanded (supplied).
For good X, consumers have an inelastic demand so they bear more of the tax Burden. As a result of the tax, price increases, yet the quantity demanded doesn't change. Therefore, the total revenue would rise.
For good Y, consumers have an elastic demand. Therefore, they bear less burden of tax. As a result of the increase in price, the quantity demanded falls and total revenue falls.
Explanation:
Answer:
<h2>In this case,the correct answer would be option c. or mentoring.</h2>
Explanation:
In any organisation,learning and development through mentorship constitutes acquiring new skills,knowledge and experience through a close relationship or association with someone who is more professional,experienced and established in a particular area of work or expertise.Mentorship basically includes close observation of the work methods,learning through imitation,following certain instructions and guidance from the mentor,obtaining support on various tasks and activities,incorporating valuable advice and recommendations in various activities and functions and so forth.In this particular instance,the firm has paired the employee with an experienced accountant to accelerate his work speed and enhance work efficiency or productivity through proper guidance,support and training obtained from the experienced accountant.Therefore,the firm expects improved work efficiency,enhancement of work performance and increased work speed through mentorship learning.
Answer:
3. Correctly ignored a sunk cost
Explanation:
Sunk costs refer to those costs which have been incurred in the past and which can no longer be recovered. For example, past expenditure on research and development with no current or future benefits represent sunk costs which can no longer be recovered.
Sunk costs are irrelevant for decision making process as they do not relate to current projects and yield no economic benefit.
In the given case, Manuel had already purchased a $10 movie ticket, which can neither be transferred nor eligible for a refund. Later when he does not exercise the option of going for the movie and opts for a concert instead, the amount of 10$ spent on the movie represents a sunk cost which is non recoverable.
Answer:
$1,000
Explanation:
Beginning balance in supplies account = $200
The supplies account is an asset account and ordinarily should have a debit balance. If additional supplies of $1,400 were purchased during the month, it goes into the account as a debit.
If at the end of the month, only $600 of supplies was still on hand total supplies expense
$200 + $1,400 - supplies expense = $600
supplies expense = $200 + $1,400 - $600
= $1,000
The supplies expense is debited when supplies are used and the corresponding credit goes to the supplies account.
