The project will enter Implementation phase
What does implementation mean?A plan, a method, or any other concept, idea, model, specification, standard, or policy for doing anything is executed or put into practice through implementation. Implementation is therefore the action that must come after any initial thought for something to truly occur.
The steps used to get a product up and running after a consumer purchases it are included in the definition of implementation in the context of information technology (IT). Among these procedures are the following:
evaluating requirements,
installing,
configuring,
customizing,
testing,
operating system integrations
delivery of user training and
change
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A travel agent needs to communicate with all
of the following EXCEPT which one when
planning out a trip for a client?
A. the client themself
B. the hotel registration
C. the flight attendant
D. the rental-car agency
Answer:
The flight attendant.
Explanation:
Which statement best describes how income levels have changed in the
United States?
A. Income levels have fallen sharply as homeownership rates have
increased
B. Most income levels have risen in line with economic growth.
C. High-income earners have seen rising incomes, but most people
have seen limited gains.
D. All income levels have seen a sharp decline as inflation has risen.
SUBMIT
Answer:
C. High-income earners have seen rising incomes, but most people have seen limited gains
Explanation:
The description with respect to the level of the income varies in the United States is that the earners who has high income have seen that the income is increased but most of them have seen that there is a limited gain. If we are talking about the unlimited one so the chances is less
Therefore as per the given situation, the option C is correct
Answer:
C. High-income earners have seen rising incomes, but most people
have seen limited gains.
Explanation:
write five advantages of multinational company
Answer:
1. Outsourcing
2. Economies of scale
3. Tax avoidance
4. Employment of skilled labour
5. Wider consumer base
hatch pattern optimization of powder bed fusion additive manufacturing process for minimizing flatness error
In addition to prototyping, Powder Bed Fusion (PBF) AM processes have lately been more widely used to manufacture end-use parts. These changes lead to necessity of higher requirements to quality of a final product. Optimization of process parameters is one of the ways to achieve desired quality of a part.
In addition to prototyping, Powder Bed Fusion (PBF) AM processes have lately been more widely used to manufacture end-use parts. These changes lead to necessity of higher requirements to quality of a final product.
Optimization of process parameters is one of the ways to achieve desired quality of a part. Finite Element Method (FEM) and machine learning techniques are applied to evaluate and optimize AM process parameters. While FEM requires specific information, Powder Bed Fusion Machine Learning is based on big amounts of data. This paper provides a conceptual framework on combination of mathematical modelling and Machine Learning to avoid these issues.
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A supervisory body, a source of public good, and a body responsible for reallocating income are examples of _____.
roles of an entrepreneur
things a government is not responsible for
things an entrepreneur is responsible for
roles of government
Answer:
roles of government
Explanation:
The government uses part of the taxes it collects to provide public goods such as goods as education, healthcare, and infrastructure. In mixed economies such as the US, the government's main role in the economy is to ensure fair competition among suppliers and protect consumers' and workers' rights.
The government has established several bodies and mandated them to carry out the regulatory functions. Different agencies regulate different trade sectors such as communication, drugs and medicines, weights and measures, employees' safety and health, etc.
a subscription model charges a variable fee based on the volume of transactions or operations performed by the application.
A subscription model does not charge a variable fee based on the volume of transactions or operations performed by the application. Hence, the given statement is false.
What is the subscription model?When a customer takes a subscription model, in that case, they are charged on a recurring basis for that particular product or service. They will have to change their subscription model after that.
Most subscription models provide all customers with some kind of option that they can renew or cancel. The subscription model does not charge a variable fee.
Therefore, it is based on the transaction, but it charges based on the plan for how long one is going to use the services.
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summary information from the financial statements of two companies competing in the same industry follows. ryan company and barco company :for both companies compute profit margin ratio
The maximum critical economic declaration for most people of users is likely to be the profits assertion, The financial statements of two corporations competing within an identical enterprise.
Profit Margin Ratio = Net Income / Net Sales
Barco Company = $149,492 / $760,000 = 0.196
Kyan Company = $233,738 / $904,200 = 0.258
Total Asset Turnover = Net Sales / Average Total Asset
Barco Company = 760,000 / ((428,000 + 481,140)/ 2) = 1.67
Kyan Company = 904,200 / ((402,500 + 543,350)/ 2) = 1.91
Return on Total Asset = EBIT / Average Total Asset
Barco Company = 171,900 / ((428,000 + 481,140)/ 2) = 0.38
Kyan Company = 271,700 / ((402,500 + 543,350)/ 2) = 0.57
Return on Common Share = Net Income / Average common shareholder's Equity.
Barco Company = 149,492 / (( 170,000 + 170,000) / 2) = 0.88
Kyan Company = 233,738 / ((196,000 + 196,000) /2) = 1.19
Price Earning Ratio = Price Per Share / Earning Per Share
Barco Company = 80 / 4.40 = 18.18
Kyan Company = 80 / 5.96 = 13.42
Dividend Yield Ratio = Annual Dividend / Price Per Share
Barco Company = 3.80 / 80 = 0.047
Kyan Company = 3.96 / 80 = 0.049.
Kyan Company Stocks are better for investment as it has an ideal price Earning Ratio, which means it is not overpriced, a better Dividend Yield Ratio as compared to Barco company and by looking at the other Ratios, we can see it has better fundamentals than the latter one.
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investigating the cost-effectiveness of operative versus nonoperative treatment for distal radius fractures
The average cost of care for a radius fracture patient ranged from $6,577 to $8,181 depending on the definition of an episode of care. No matter definition, the variant in cost turned into high. The fee of the surgical procedure itself composed sixty-one% to ninety-one% of the total cost of an episode.
If the distal radius fracture is in a terrific function, a splint or forged is carried out. It regularly serves as a final treatment until the bone heals. normally a solid will stay on for up to 6 weeks. Then you may be given a detachable wrist splint to wear for comfort and aid.
Whilst distal radial fracture surgery is not constantly important that allows you to fix the damage, this kind of wrist surgical operation is one of the maximum typically achieved by way of orthopedic physicians.
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a middle manager at a large corporation arrived to her desk and realized someone had gone through her file cabinets and stolen confidential documents after logging into her computer she also realized
A middle manager at a large corporation arrived to her desk and realized someone had gone through her file cabinets and stolen confidential documents. After logging into her computer she also realized someone had accessed secure files containing important intellectual property as well. This situation is called Corporate Espionage.
What qualifies as corporate espionage?
Corporate Espionage is the unlawful robbery/acquisition of intellectual belongings, which includes key exchange secret and patent records as well as industrial manufacturing techniques and strategies, ideas and formulas.
What's the motive of corporate espionage?
Corporate Espionage is the unlawful and unethical theft of commercial enterprise exchange secrets for use via a competitor to achieve a competitive benefit. It's far frequently done by using an insider or an employee who gains employment for the specific purpose of spying and stealing facts for a competitor.
Why is corporate espionage unethical?
Corporate Espionage basically describes unlawful and unethical sports undertaken with the aid of companies to systematically accumulate, analyze and control records on competition with the reason of gaining a competitive side inside the market.
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this section should include how using the spreadsheet data assisted you in 1) identifying supplier’s record for on-time deliveries, 2) suppliers offering the best accounts payable terms, and 3) suppliers offering lower pricing when the same item can be provided by multiple suppliers.
The spreadsheet data assisted by way of: helping with information Exports. Spreadsheets may be used to comprise records that has been exported from other structures.
A spreadsheet is a pc application for computation, company, evaluation and storage of information in tabular shape. Spreadsheets had been developed as automatic analogs of paper accounting worksheets. the program operates on facts entered in cells of a desk.
Spreadsheet, pc program that represents statistics in a two-dimensional grid of facts, at the side of formulation that relate the statistics. historically, a spreadsheet is an accounting ledger page that suggests numerous quantitative facts useful for coping with a business.Excel information types are the four exceptional styles of values in Microsoft Excel. The four styles of statistics are text, quantity, logical and blunders. you can perform extraordinary features with each type, so it is important to know which ones to apply and when to use them.
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the true test of supply’s contribution is when the chief executive officer and the management team recognize the value of supply and suppliers in reducing prices paid for goods and services.
The problem is a False statement.
What is supply’s contribution?
Any individual or business that provides products or services to another business is known as a supplier. In a business, a supplier's responsibility is to procure high-quality products from a manufacturer at a fair price so that a distributor or retailer may resell them. Suppliers are essential to the life cycle of a product. To speed up manufacturing and locate higher-quality raw materials in a crowded market, they source raw resources. To produce the greatest products, every firm has to establish a strong working relationship with its suppliers.
Therefore,
The true test of supply’s contribution is when the chief executive officer and the management team recognize the value of supply and suppliers in reducing prices paid for goods and services.
The problem is a False statement.
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the following transactions occurred during march 2024 for the right corporation. the company operates a wholesale warehouse.issued 30,000 shares of no-par common stock in exchange for $300,000 in cash.purchased equipment at a cost of $40,000. cash of $10,000 was paid and a note payable to the seller was signed for the balance owed.purchased inventory on account at a cost of $90,000. the company uses the perpetual inventory system.credit sales for the month totaled $120,000. the cost of the goods sold was $70,000.paid $5,000 in rent on the warehouse building for the month of march.paid $6,000 to an insurance company for fire and liability insurance for a one-year period beginning april 1, 2024.paid $70,000 on account for the inventory purchased in transaction 3.collected $55,000 from customers on account.recorded depreciation expense of $1,000 for the month on the equipment.
The Journal Entries for the transactions of Right Corporation for March 2024 are as follows:
Journal Entries:Debit Cash $300,000
Credit Common Stock $300,000
Debit Equipment $40,000
Credit Cash $10,000
Credit Note Payable $30,000
Debit Inventory $90,000
Credit Accounts Payable $90,000
Debit Accounts Receivable $120,000
Credit Sales Revenue $120,000
Debit Cost of goods sold $70,000
Credit Inventory $70,000
Debit Rent Expense $5,00
Credit Cash $5,000
Debit Prepaid Insurance $6,000
Credit Cash $6,000
Debit Accounts Payable $70,000
Credit Cash $70,000
Debit Cash $55,000
Credit Accounts Receivable $55,000
Debit Depreciation Expense $1,000
Credit Accumulated Depreciation - Equipment $1,000
Transaction Analysis:Cash $300,000 Common Stock $300,000
Equipment $40,000 Cash $10,000 Note Payable $30,000
Inventory $90,000 Accounts Payable $90,000
Accounts Receivable $120,000 Sales Revenue $120,000
Cost of goods sold $70,000 Inventory $70,000
Rent Expense $5,00 Cash $5,000
Prepaid Insurance $6,000 Cash $6,000
Accounts Payable $70,000 Cash $70,000
Cash $55,000 Accounts Receivable $55,000
Depreciation Expense $1,000 Accumulated Depreciation - Equipment $1,000
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Question Completion:Journalize the transactions.
target and walmart sell athletic clothing at a lower price than specialty retailers. these stores operate under .
Target and Walmart, which sell athletic clothing at a lower price than specialty retailers, operate under the overall cost leadership strategy.
What is the cost leadership strategy?The overall cost leadership strategy is one of the generic competitive strategies that an entity can employ to expand its sales revenue, increase profits, and gain a competitive advantage.
The overall cost leadership strategy entails that the business offers quality products at low prices (even lower than competitors) and increases profits by reducing its costs.
Thus, what Target and Walmart are doing to gain a competitive advantage over specialty retailers is cost leadership.
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Question Completion with Answer Options:a. Cost Leadership Strategy.
b. Differentiation Strategy.
c. Cost Focus Strategy.
d. Differentiation Focus Strategy.
ms. venus has $100 income this year and $110 next year. the market interest rate is 10 percent per year. suppose ms. venus consumes $60 this year. what will be her consumption next year?
ms. venus consumption next year will be $154
How to calculate the consumption ?The first step is to write out the parameters
ms. venus has $100 this year and $110 next year
the market interest rate is 10 percent per year
ms. venus will consume $60 next year
Therefore her consumption can be calculated as follows
(100-60) × 1.1 + 110
= 40 × 1.1 + 110
= 44 + 110
= 154
Hence the consumption for next year is $154
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if the contract closes in may at a price of $3.89 per bushel, what will be your profit or loss? (each contract calls for delivery of 5,000 bushels.) (round your answer to 2 decimal places.)
Future contracts are standardized legal contract of buying and selling underlying asset at specified price on specified date in future
Here contract for September 2017 is bought for 3.7525 $ , now contract closed at 3.8 $ thus one need to sell contract at 3.8 $
Thus profit of contract = (3.8-3.7525) x contract size
=0.0475 x 5000
=237.5 $
Thus there is a profit of $237.5.
The term earnings and loss P&L statement refers to a monetary assertion that summarizes the sales, charges, and fees incurred for the duration of a detailed duration, usually a quarter or monetary year. This consists of objects of earnings and costs. These statistics can be derived from invoices, receipts, credit score card statements, and bank account transactions. it's the amount left after subtracting your overall charges from your total revenue.
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when output volume increases, do variable costs per unit increase, decrease, or stay the same within the relevant range of activity? explain
Variable expenses will rise along with increased production and output.
Understanding Variable expenses
Any business's overall expenses are made up of both variable and fixed costs. Sales or production output determine variable costs. Per unit produced, the variable cost of production is a fixed sum. .
Sales commissions, direct labor costs, the price of raw materials used in production, and utility prices are a few examples of variable costs.
Since they can be readily altered, variable expenses are typically seen as short-term costs.
Calculation and Formula for Variable Costs
The output quantity multiplied by the variable cost per unit of output yields the total variable cost:
Total Variable Cost is equal to the sum of the output's units' variable costs.
Across profits, the variable cost per unit will change. It can generally be computed specifically as the total of the many forms of variable costs covered below. If variable expenses are incurred in batches, they might need to be divided among the commodities (i.e. 100 pounds of raw materials are purchased to manufacture 10,000 finished goods).
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all of u goto sleep now or u will get dark circles under ur eyes(kasey andsnake)
Answer:
no ❤
Explanation:
Some of the signs and symptoms of sleep disorders include excessive daytime sleepiness, irregular breathing or increased movement during sleep. Other signs and symptoms include an irregular sleep and wake cycle and difficulty falling asleep.Some common types of sleep disorders include:
Insomnia, in which you have difficulty falling asleep or staying asleep throughout the night.
Sleep apnea, in which you experience abnormal patterns. Explain the impact of sleep deprivation by describing at least six signs or symptoms of this condition.
Give an overview of the four major sleep disorders, including their signs, symptoms, and possible causes. in breathing while you are asleep. There are several types of sleep apnea.
Restless legs syndrome (RLS), a type of sleep movement disorder. Restless legs syndrome, also called Willis-Ekbom disease, causes an uncomfortable sensation and an urge to move the legs while you try to fall asleep.
Narcolepsy, a condition characterized by extreme sleepiness during the day and falling asleep suddenly during the day.
There are many ways to help diagnose sleep disorders. Doctors can usually treat most sleep disorders effectively once they're correctly diagnosed.
Answer:
yep
Explanation:
yep
a u.s. treasury strip that will pay $1,000 in 12 years is selling today for $318.63. what interest rate does the bond offer?
Interest rate to be earned = 6.8%.
What is Interest ?Interest is the cost of borrowing money and is typically stated as a percentage, such an annual percentage rate (APR). The rate of inflation, the amount of time the money is borrowed for, the liquidity, and the default risk are important variables that determine interest rates. Ownership in a firm can be expressed through interest.
In the fields of finance and economics, interest is the payment made at a set rate by a borrower or deposit-taking financial institution to a lender or depositor in excess of the principal amount. It differs from a fee the borrower might pay the lender or another entity.
Interest is different from profit in that a lender receives interest while the owner of an asset, investment, or business receives profit.
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while international trade is as logical as interstate trade, some nations restrict imports of certain goods for a variety of reasons. the united states recently restricted the import of fresh tomatoes from mexico. why did the united states restrict the imports of tomatoes?
The United States has restricted fresh tomato imports from Mexico because fresh tomato is driving down domestic fresh tomato price levels, which could create an economic imbalance for domestic companies.
What are the negative effects of international trade?The main negative effects associated with international trade are associated with the devaluation of local businesses, since, due to exchange rate changes, foreign companies can offer a more competitive and lower price than that charged by local companies.
Another effect occurs through increased consumerism and the use of scarce resources for production, increasing the environmental imbalance.
Therefore, there are several consequences of international trade that must be managed by the economic policies of a country, which must also encourage national companies by reducing interest, bureaucracy and investments.
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Freedom of ensures that entrepreneurs and private businesses are free to obtain and use economic resources to produce their choice of goods and services.
Freedom of enterprise ensures that entrepreneurs and private businesses are free to obtain and use economic resources to produce their choice of goods and services.
Who is an entrepreneur?An entrepreneur can be defined as a person who sets up a business or an organization in respect of making a profit. Also, he takes financial risks in doing so.
Freedom of enterprise is necessary for a business or entrepreneur as it makes shows that the company is being provided with all sorts of resources and technology that they want easily without any restrictions or bondage.
This will ensure that the business is run smoothly and there is no time delay getting permission.
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The question is incomplete, the complete question will be
freedom of ______ ensures that entrepreneurs and private businesses are free to obtain and use economic resources to produce their choice of goods and services
online blank processing is the manipulation of information to create business intelligence in support of strategic decision making.
online Information is changed through analytical processing in order to produce business intelligence to aid in strategic decision-making.
MEANING
Online analytical processing, also known as OLAP, is a method used in computing to quickly respond to multi-dimensional analytical (MDA) inquiries. The broader field of business intelligence, which also includes relational databases, report writing, and data mining, includes OLAP as one of its subcategories. Business reporting for sales, marketing, management reporting, business process management (BPM), budgeting and forecasting, financial reporting, and related sectors are typical OLAP applications. New applications, such agricultural, are emerging.
Online transaction processing, a traditional database phrase, was slightly modified to become OLAP (OLTP).
Users of OLAP technologies can interactively evaluate multidimensional data from many angles. area, etc.
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is a set of models that describe the technical implementation of an organization’s business strategy and business processes.
Enterprise architecture is a set of models that describe the technical implementation of an organization’s business strategy and business processes.
What is an Enterprise architecture?
A comprehensive definition, organization, standardization, and documentation of an organization's structure and relationships in terms of specific crucial business domains (physical, organizational, technical, etc.) defining the entity under analysis is provided by the analytical discipline known as enterprise architecture (EA).
The purpose of EA is to develop an effective representation of the commercial enterprise that may be utilized at all levels of stewardship to lead, optimize, and alter the business as it responds to real-world situations.
EA is used to record how domain elements relate to one another and interact with one another as indicated by their processes, functions, applications, events, data, and technologies used.
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organizations design and implement systems to capture the details of transactions involved in each business
Organizations design and implement accounting information systems to capture the details of transactions involved in each business.
What is accounting information?Accounting information is fed into an accounting information system that uses computers to process data. It records and tracks all the accounting activity of the business by making use of information technology systems and resources.
A firm employs an accounting information system (AIS) as a framework to gather, organize, process, retrieve, and report its financial data so that accountants, consultants, business analysts, managers, chief financial officers (CFOs), auditors, regulators, and tax agencies may use it.
To assure the highest level of accuracy in a company's financial transactions and record-keeping, as well as to make financial data easily accessible to those who legitimately need access to it—all while keeping data intact and secure—specially trained accountants closely collaborate with AIS.
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hillary's company is said to have high levels of agreement among employees about what they value and high intensity toward these values
Hillary's company is said to have high levels of agreement as well as option b: strong culture.
What is a characteristic of a strong culture?Strong cultures is known to be a term that connote a more than one strong leader that tends to teach beliefs, behavioral rules, etc., that are known to match with customer needs, and others.
Note that A strong culture is one that is known to connote a form of a deeply embedded or put into the ways a business or organization that tends to do those things.
Hence, Hillary's company is said to have high levels of agreement as well as option b: strong culture.
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Hillary's company is said to have high levels of agreement among employees about what they value and high intensity toward these values. Her company's culture can be defined as a(n):
a. Weak culture
b. Strong culture
c. Intense culture
d. Stable culture
muggins is evaluating a project to produce a new product. the product has an expected life of four years. costs associated with the product are expected to be as follows.
Muggins is evaluating a project to produce a new product. the product has an expected life of four years. costs associated with the product Assess on financial grounds whether the project is acceptable.
What is financial ?Money, currencies, and capital assets are the subject of the study and practice of finance. The study of the creation, transfer, and consumption of money, assets, goods, and services is known as economics. However, the two are not the same thing. The field of finance can be loosely classified into three categories: personal, corporate, and public. Finance activities occur in financial systems at various scales.
Assets are purchased, sold, or exchanged as financial instruments in a financial system, including money, loans, bonds, shares, stocks, options, futures, and so on. To enhance value and reduce loss, assets can also be banked, invested in, and insured. Risks are actually always present in financial transactions and companies.
Finance is a big subject, and there are many subfields within it.
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in some industries, technology drives globalization because the economies of scale necessary to reduce costs cannot be met by competing in domestic markets alone.
In some industries, technology drives globalization because the economies of scale necessary to reduce costs cannot be met by competing in domestic markets alone. This statement is True.
What is technology in a simple definition?
Technology is the application of scientific knowledge to practical ends in human life, or, as it is sometimes expressed, in modifying and manipulating the human environment.
How important is technology?
Helping people solve problems, save time, save lives, communicate and share information, and manage the dynamics of everyday life. New technological developments are driving the world forward, making it more efficient and better.
What is technology used for?
Technology's purpose is to enable the effective exchange of data to address some of society's greatest challenges and to enable individuals and organizations to become more innovative, efficient , to help you be productive.
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Lauryn’s wages were not as much as she had budgeted. How can her budget be modified so there will be a positive actual net income?.
The correct options are
a. Reduce the food expense by $50.b. Reduce the clothes expense by $75.c. Reduce the recreation expense by $25.The cost of running business, which includes expenses, taxes, depreciation, and debt interest, is subtracted from total revenue to arrive at net income. A corporation is more likely to be financially stable and pay its debts off, distribute dividends to shareholders, and cover its operational costs if its net income is positive. The cash flow statement, which details where and how cash is collected and spent, reports cash flow. The net amount of cash equivalents moving into and out of a business during a specific time period is known as cash flow. Positive cash flow indicates that a company's liquid assets are growing.
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ken a single taxpayer has a gross income of $79 685. he claims one exemption and can take a deduction of $1257
Ken, a single taxpayer, has a gross profit of $79,685. He claims one exemption and might take a deduction of $1,257 for scientific expenses, a deduction of $2,181 for hobby on his loan, an adjustment of $800 for alimony, a deduction of $1,419 for property taxes, an adjustment of $1,722 for commercial enterprise expenses, and an adjustment of $2,511 for contributions to his retirement fund. The standard deduction for an unmarried filer is $5,seven-hundred, and exemptions are really worth $three,650 apiece. the usage of the desk below, Ken owes an income tax of $12675.
The usual deduction is $910 better than the Nedages' deductions. Ken, an unmarried taxpayer, has a gross income of $79,685.the standard deduction reduces the number of earnings this is taxed and gets rid of the want for many taxpayers to itemize deductions due to the fact you may take the better deduction of the two.
A deduction can simplest decrease your taxable income and the tax charge that is used to calculate your tax. this may bring about a bigger refund of your withholding. A credit reduces your tax giving you a bigger refund of your withholding, however sure tax credit can give you a refund even when you have no withholding.
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maria wishes to buy gasoline and have her car washed. she finds that if she buys 9 gallons of gasoline at $2.50 per gallon, the car wash costs $2, but if she buys 10 gallons of gasoline, the car wash is free. for maria, the marginal cost of the tenth gallon of gasoline is
The marginal cost of the tenth gallon of gasoline is b. $2.50.
The marginal cost of capital is the weighted average price of recent capital calculated by way of the marginal weight. The marginal weight represents the proportion of numerous resources of finances to be employed in elevating additional budget.
Marginal price is calculated as the total costs required to manufacture one additional correct. therefore, it may be measured by means of changes to what charges are incurred for any given additional unit. Marginal value = change in overall fees/alternate in the number of devices Produced.
Marginal costs exist when the full cost of production includes variable charges. There are exceptional forms of marginal costs, inclusive of marginal social charges, marginal private expenses, and marginal external expenses.
Disclaimer: The question is incomplete. Please read below to find the missing content.
Question: Maria wishes to buy gasoline and have her car washed. She finds that if she buys 9 gallons of gasoline at $2.50 per gallon, the car wash costs $2, but if she buys 10 gallons of gasoline, the car wash is free. For Susan, the marginal cost of the tenth gallon of gasoline is
Select one:
a. $2.00.
b. $2.50.
c. 50 cents.
d. zero.
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during the summer, the largest computer game retailer has a massive sale. as prices for computer games fall, consumers purchase more games, ceteris paribus. what does the term ceteris paribus mean in this context?
According to the question, the term ceteris paribus means that as prices of computer games fall, customers purchased more games while all other factors remain the same. This is in Agreement with the Law of Demand
What is the Law of Demand.
The law of demand in economics is one that describes the relationship between Price and Demand. It states that if the price of goods go up, consumers will demand less of that goods and vice versa.
It therefore implies that price and demand exist in an inverse relationship. As price increases, the demand decreases and if price decreases, the demand increases.
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