Answer:
a. federal antitrust laws
Explanation:
Based on the information provided within the question it can be said that his best argument is probably that the requirement violates federal antitrust laws. These are laws that protect consumers from different business practices that focus on preying on anyone they can. Which can be argued that Greasy Burgers is preying on Flynn since he is new in the industry and has already bought a franchise from Greasy Burgers Inc.
A foreign company (whose sales will not affect Thompson's market) offers to buy 4,000 units at $7.50 per unit. In addition to variable manufacturing costs, selling these units would increase fixed overhead by $600 and selling and administrative costs by $300. If Thompson accepts the offer, its profits will:
a. Increase by $30,000.
b. Increase by $ 6,000.
c. Decrease by $ 6,000.
d. Increase by $ 5,200.
e. Increase by $ 4,300.
Answer:
As per our research the complete question is
Thompson Company had the following results of operations for the past year:
Sales (16,000 units at $10) $160,000
Direct materials and direct labor $96,000
Overhead (20% variable) 16,000
Selling and administrative expenses (all fixed) 32,000 (144,000)
Operating income $16,000
A foreign company (whose sales will not affect Thompson's market) offers to buy 4,000 units at $7.50 per unit. In addition to variable manufacturing costs, selling these units would increase fixed overhead by $600 and selling and administrative costs by $300. If Thompson accepts the offer, its profits will:
Increase by $30,000.
Increase by $ 6,000.
Decrease by $ 6,000.
Increase by $ 5,200.
Increase by $ 4,300.
Answer:
The correct answer is D. Increase by $ 4,300.
Explanation:
This problem requires us to calculate the increase in profit if the offer given in problem is accepted. This can easily be solved by subtracting, incremental cost incurred from incremental revenue earned, if offer is accepted.
The complete calculation is given below.
Incremental Revenue
=7.5*4000 = 30,000 -A
Incremental cost
Direct materials and direct labor = 96,000/16000 = 6 * 4000 = 24,000
Overhead (20% variable) = (20% *16000)/ 16000 = 0.2 * 4000 = 800
Fixed cost = 600 + 300 =900
Total Cost = 25,700 -B
Increase in profit = A-B = $ 4300.
According to the Monetarist theory, _____________is a critical causal force that determines the nominal GDP..
Answer:
money supply
Explanation:
Monetarists are a branch of new classical economists that, as the name suggests, believe that money has a very important part to play within an economy.They believe that aggregate expenditures in the economy are influenced by the market rate of interest, and therefore money can affect the level of output in the short run economy.However, they further believe that money influences the long run unemployment in the economy. If monetary policies are used to increase aggregate demand, it is thought that this use of additional money may cause a short term boost in output, but will ultimately lead to inflation in the economy.
So the answer is money supply
You have been hired to implement an enterprise system that will automate much of the billing and accounting work for a statewide HVAC services company. Which of the following would you prepare to describe how the new system will affect a firm's structure and operations? A. Information Systems Plan
B. Internal Integration Report
C. Socio-technical design Report
D. Organizational impact analysis
Answer:
the correct answer is
D. Organizational impact analysis
good luck
when companies adopt the strategy-making and strategy-execution process it requires they start by
Answer:
The correct answer is (A)
Explanation:
The most important part of any organisation is to start developing the company's mission and vision before start operating. The mission and vision of a company is a way to let everyone know where the company stands and what they want to achieve. Therefore, strategy making and execution process starts with developing a strategic vision, mission and values
Final answer:
When companies start the strategy-making and strategy-execution process, they should first analyze their current situation and set clear objectives, then ensure participatory decision-making by involving key individuals and stakeholders from the onset.
Explanation:
When companies adopt the strategy-making and strategy-execution process, they must start by developing a strong understanding of their current position and what they aim to achieve. This involves conducting an analysis such as SWOT (Strengths, Weaknesses, Opportunities, Threats) to identify internal and external factors that may impact their goals and objectives. Ensuring a participatory decision-making process is integral, which means involving key personnel and stakeholders early on to harness a variety of perspectives and build commitment to the strategy.
Developing a comprehensive strategy is fundamental for turning a company's resources into its goals. Before formulating the strategy, it's essential to recognize the need for change by developing a sense of urgency among the employees. This can be due to external or internal threats that may jeopardize the company's competitiveness or survival. Furthermore, initial dialogue with stakeholders is crucial in identifying concerns, opportunities, and the roles and responsibilities before proceeding to wider collaboration in later stages.
In conclusion, it's clear that the first step in the strategy-making process is to analyze and understand the company's situation, and then to involve those who are affected by decisions in the planning phases. Only by doing so can a company ensure that they are prepared to explore alternatives extensively and generate a strategic plan that will guide them towards achieving their desired outcomes.
Country X can produce corn and sugar at a lower cost than other countries. However, the world market for corn is stronger than for sugar. Therefore, Country X chooses to specialize in producing corn and to buy sugar from other countries. This example illustrates the concept of _____ .
Answer:
Specialization or Scarcity
Explanation:
Questions like this usually have an answer of Scarcity but if Specialization is a choice then choose that because it is a direct example of Specialization.
The concept illustrated by Country X's choice to specialize in corn production is called comparative advantage, where a country produces goods at a lower opportunity cost than others. This is distinguished from absolute advantage, where a country simply produces more of a good overall.
The example provided illustrates the concept of comparative advantage. In this case, Country X is able to produce both corn and sugar at a lower cost than other countries, but the world market for corn is stronger. Therefore, Country X chooses to specialize in the production of corn, for which it has a comparative advantage, due to its lower opportunity cost in producing corn compared to sugar. As a result, it buys sugar from other countries which might have a comparative advantage in sugar production.
Comparative advantage is different from absolute advantage, which occurs when a country can produce more of a good overall, regardless of the opportunity costs involved. For example, Brazil has an absolute advantage in sugar cane, given its larger production capacity when devoting all resources to sugar cane, compared to the U.S. However, when examining the opportunity costs, we find that each country has a lower opportunity cost in producing the good where they have a comparative advantage; Brazil in sugar cane and the U.S. in wheat.
Car salespersons are notorious for using the ________ technique, which involves changing terms after an agreement has been made.
a.foot-in-the-door
b.foot-in-the-mouth
c.door-in-the-face
d.lowball
Answer:
D) lowball
Explanation:
The lowball sales technique is used by salespeople who first offer a product or service at a low cost and then suddenly change some condition that increases the sales price.
For example, a car salesperson shows you a car and gives you a price. Once you have accepted that price, the salesperson says that the price was for the basic car trim and that the car you saw had a higher trim and therefore a higher price. If that doesn't work, and the client decides to purchase the car with the basic trim, the salesperson starts adding some extra expenses including but not limited to shipping and handling costs, taxes and sometimes even a fee for giving you the car clean and in a mint condition.
The key for a lowball sale is that the customer really likes and wants the product, and that the seller's argument for changing the price can convince the customer.
Changes in the money supply M1 relate strongly to changes in _____________ that are determined largely by loans made by the banking system..
Answer:
the correct answer is check able deposits
Explanation:
Changes in the money supply M1 relate strongly to changes in check able deposits that are determined largely by loans made by the banking system..
good luck
The condition of a market in which there are many sellers of slightly differentiated goods, sellers and buyers are reasonably aware of conditions that may affect the market, each seller has some control over his good's price, and sellers find it relatively easy to enter and exit the market.
Answer:
Imperfect competition
Explanation:
Is a competitive market situation where there are many sellers, but they are selling heterogeneus good as opposed to the perfect competitive market scenario.
A company earned $3,000 in net income for October. Its net sales for October were $10,000. Its profit margin is:
A.3%.
B.30%.
C.33%.
D.333%.
E.$7,000.
Answer:
Option B.
Explanation:
Given information:
Net income = $3,000
Net sales = $10,000
Profit margin formula:
[tex]\text{Profit margin}=\dfrac{\text{Net income}}{\text{Net sales}}\times 100[/tex]
Substitute given values in the above formula.
[tex]\text{Profit margin}=\dfrac{3000}{10000}\times 100[/tex]
[tex]\text{Profit margin}=30[/tex]
The profit margin is 30%. Therefore, the correct option is B.
Four consumers each want to buy a refrigerator. Without a retail intermediary like Best Buy, fridge manufacturers Walton, Sub-Zero, Bosch, Kenmore, and General Electric would each have to make four contacts to reach the four consumers who are in the target market, for a total of twenty transactions. But when Best Buy acts as an intermediary between the producer and consumers, each producer needs to make only one contact, reducing the number to nine transactions. This is an example of a ______.a. manufacturer offering exchange utilityb. retailer using contract logisticsc. retailer offering contact efficiencyd. manufacturer using additive manufacturing
Answer: (C) Retailer offering contact efficiency
Explanation:
According to the given question, the retailer offering the contact efficiency is an example of the given scenario as it best describe the about the given situation.
We can provide the contact efficiency by reduce the number of the transaction which is required for delivering the products and the services to the customers and it also make a proper assortment of the various types of products that is available in the one place or location.
Therefore, Option (C) is correct.
Bargain Books, Inc., an eclectic book and music store near a large college campus, is a reseller. The operation buys books almost every day. Deliveries are constantly part of the day-to-day operation of the firm. The transportation company that delivers to Backstreet Books provides this service on trade credit terms of 3/5, net 30. This means the firm ________.a) will receive a 5% discount if they pay within the first three days, but the entire bill is due in 30 daysb) will pay 30% of the charge on delivery and the rest within 5 daysc) is offered a 3% discount if it pays during the first 5 days. The entire bill is due in 30 daysd) will receive 10% discount on the first 5% of the order. The entire bill is due in 30 days
Answer:
c) is offered a 3% discount if it pays during the first 5 days. The entire bill is due in 30 days
Explanation:
When reading commercial terms:
3/5 n/30
the first number is the percentage of discount while the second is the days the discount is outstanding
Then, the second part means the person has 30 days to pay the bill at nominal afterwhich; the customer will have to settle with the company to make up for interest charges.
the nominal can be outstanding for a lesser period than 30 days is not mandatory to be 30 days same is true for the discount eahc company can determinate the day outstanding and amount of discount provided
Final answer:
The trade credit terms 3/5, net 30 provided by the transportation company mean Bargain Books, Inc. can receive a 3% discount if they pay within 5 days; otherwise, the full payment is due in 30 days.
Explanation:
The transportation company that delivers to Bargain Books, Inc. offers trade credit terms of 3/5, net 30. This means that the firm is offered a 3% discount if it pays within the first 5 days after delivery. If the discount is not utilized, the entire bill is due within 30 days, with no discount applied. These credit terms are typical in business transactions to encourage early payments and improve cash flow for the supplier.
Which party should request a letter regarding litigation, claims, and assessments from the client's attorney
A. Attorney.
B. Auditors.
C.Client.
D. Securities and Exchange Commission or other regulatory body.
Answer:
B Auditors
Explanation:
The requirement is to identify the audit procedure that an auditor most likely would perform concerning litigation, claims and assessments. Because auditor discuss with management about its policies and procedures for evaluation and accounting for litigation, claims and assessments.
Therefore Option B Auditor is correct
For how long should a certified personal trainer maintain accurate contract and appointment records?
Correct/Complete question: For how long should a certified personal trainer maintain accurate contract and appointment records?
a. 3 years
b. 4 years
c. 2 years
d. 1 year
Answer:
4 years
Explanation:
A certified personal trainer is expected to maintain accurate record of contracts and appointment for at least 4 years before discarding them so as to be able to use them for future assessment or reference purposes. These records are kept in both soft and hard copies. the hard copies can be recycled after 4yeasr at least while the soft copies are kept in a database which can last for almost forever.
Cheers
Use the concepts of gross investment and net investment to distinguish between an economy that has a rising stock of capital and one that has a falling stock of capital. To answer this question, evaluate the following statement: "In 1933 net private domestic investment was minus $6 billion. This means that in that particular year the economy produced no capital goods at all." This statement is correct, because negative net investment means the economy produced no new capital goods in that year. incorrect, because gross investment must have exceeded depreciation. incorrect, because negative net investment does not mean the economy produced no new capital goods in that year. correct, because gross investment must have exceeded depreciation.
Answer & Explanation:
because negative net investment means the economy produced no new capital goods in that year.
Suppose the demand for a Czech novel translated into English is perfectly inelastic. Assume the initial price of the translated novel is $20.00 and the quantity demanded is 138 copies per year. If the price of the translated novel increases by $2.00, then the quantity demanded will be _____________ copies per year.
Answer:
quantity demanded will be 138 copies per year
Explanation:
given data
initial price of novel = $20.00
quantity demanded = 138 copies per year
novel price increases = $2.00
to find out
quantity demanded will be
solution
as we know that here quantity demand for noval is perfectly inelastic
so quantity demand remain same for the changes in prices
thus we can say price of Czech noval increase by $2
then also quantity demanded will be 138 copies per year
In a perfectly inelastic demand scenario, the quantity demanded remains unchanged despite changes in price. Therefore, even if the price of the Czech novel translated into English increases by $2.00, the quantity demanded will still be 138 copies per year.
Explanation:In the case of perfectly inelastic demand, the quantity demanded does not change, regardless of the changes in price. So, even if the price of the Czech novel translated into English increases by $2.00, the quantity demanded will remain the same, which is 138 copies per year.
Perfectly inelastic demand is when the quantity demanded or supplied does not respond to price changes. This occurs when the product has unique characteristics, no close substitutes or is a necessity.
In this case, the price elasticity of demand is zero, indicating that quantity demanded is completely unresponsive to price.
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Jill bought a house 3 years ago and paid $175,000 for it and spent $7,000 in closing costs. Since, then she has made several improvements to the property for $75,000. Jills boss promoted her to VP of Market 5 and she had to relocate. She sold her house for $375,000 with $30,000 in selling costs. She bought a new house for $290,000. What is the capital gain on the sale of her original home?
Answer:
$88,000
Explanation:
Jill's original house value = $175,000 house cost + $7,000 closing costs + $75,000 improvements = $257,000
Jill's revenue from house sale = $375,000 selling price - $30,000 sale cost
= $345,000
Jill's capital gain = $345,000 sales revenue - $257,000 house original value
= $88,000
Final answer:
To calculate the capital gain on Jill's house sale, add up the purchase price, closing costs, and improvement costs to get the total investment. Then, subtract this total from the adjusted sale price of the house after deducting selling costs. Jill's capital gain from the sale is $88,000.
Explanation:
Calculation of Capital Gain on the Sale of a House
The capital gain on the sale of a house is the profit made from the sale after accounting for the original purchase price, the cost of any improvements, and the cost of selling the home. To calculate Jill's capital gain, we follow these steps:
Combine the original purchase price with the closing costs and improvement costs to determine the total investment in the property.Subtract the total investment from the final sale price.Deduct the selling costs from the result of step 2 to find the capital gain.Jill's total investment in the house was $175,000 (purchase price) + $7,000 (closing costs) + $75,000 (improvements) = $257,000. She sold the house for $375,000, and after subtracting the selling costs of $30,000, we get $345,000. Therefore, Jill's capital gain is $345,000 (adjusted sale price) - $257,000 (total investment) = $88,000.
This capital gain represents the profit Jill made from the sale, not accounting for potential taxes or other fees that may apply in a real-life scenario.
Magma, Inc., acquired Vulcan, Inc., 3 years ago. Effective integration of the two companies' culture was never achieved, and the two firms' assets were not complementary. It is very likely that Magma will:________ a. restructure. b. review the due diligence information collected before the acquisition. c. go public through an IPO. d. review its tactical-level strategies.
Answer:
a. restructure
Explanation:
Based on the information provided within the question it can be said that in this scenario Magma will most likely restructure. This refers to the act of a company reorganizing different aspects or structures within a company with the main goal of achieving an efficient flow within the company and making it more profitable.
Facing difficulties in integrating cultures and assets after acquiring Vulcan, Inc., Magma, Inc. is very likely to restructure. Option A is correct.
Magma, Inc., after acquiring Vulcan, Inc., and facing challenges with integration of company cultures and complementary assets, is most likely to restructure. This step is commonly taken by organizations to address issues such as duplication of services, clash of cultures, and operational inefficiencies that often arise after mergers and acquisitions.
Restructuring can involve a variety of actions, including merging departments, reducing staff, and revising strategies to better align the newly combined entity's operations and objectives.
Effective integration following a merger or acquisition is critical for the success of the combined entity. Challenges such as cultural clashes and non-complementary assets, similar to those faced by Magma and Vulcan, can significantly hinder the realization of the anticipated benefits of the merger. Thus, restructuring becomes a key strategy to address these challenges, realign the organization, and set a solid foundation for future growth and success.
Hence, A. is the correct option.
Lester, a hardware engineer, sells his old hatchback to buy a luxury sedan. As he starts driving the new car, he realizes that it is more difficult to maneuver the sedan than his old hatchback. He also realizes that maintaining the sedan is expensive. Lester is rather uncomfortable with the purchase decision he made. In the context of consumer behavior, which of the following concepts does this scenario best illustrate.
Answer:
Cognitive dissonance
Explanation:
Cognitive dissonance refers to conflicting ideas or beliefs that cause discomfort to an individual. Individuals tend to seek consonance between their expectations and reality.
In this case Lester expected to feel good about his purchase of a luxury since it should be a much better car than his old hatchback, butt he actually doesn't like to drive the larger and more luxurious sedan.
Phil works at a wholesaler that specializes in organic, grass-fed beef. Resellers wanting to purchase from Phil's organization have few options to choose from because its beef products tend not to vary.
Phil most likely works for a __________________.
Answer:
specialty line wholesaler
Explanation:
Based on the information provided within the question it can be said that in this scenario Phil most likely works for a specialty line wholesaler. This is a product or service provider that focuses exclusively an a super narrow diversity of products. Which in this case would be only organic, grass-fed beef, and nothing else.
Bank "A" is offering 2% interest and a $100 debit card on a newly opened savings account with a minimum balance of $1,000 for one year. Bank "B" is offering 5% interest and a $50 debit card on a newly opened savings account with a minimum balance of $1,000 for one year. Assuming you deposit $1,000, which has the better return (interest plus card value) FOR THE FIRST MONTH?
Answer:
Explanation:
On the offer of Bank A , the total return ( annual ) for deposit holder
= 2%of 1000 + 100 = 120 dollar
On the offer of Bank B , the total return ( annual ) for deposit holder
= 5%of 1000 + 50 = 100 dollar
Hence the offer of bank A is better in terms of return.
Answer:
The Answer is Bank A
Explanation:
Bank A is offering =(Card Value+ interest on saving account i.e $100+1000*2%/12)=$101.667
Bank B is offering=(Card Value+ interest on saving account i.e $50+1000*5%/12)=$54.1667
So the Answer is Bank A because the debit card value of Bank A is greater than Bank B. Therefore overall benefit and return is better of Bank A.
Fragmental Co. leased a portion of its store to another company for eight months beginning on October 1, at a monthly rate of $925. Fragmental collected the entire $7,400 cash on October 1 and recorded it as unearned revenue. The journal entry made by Fragmental Co. at year-end on December 31 would be:
A debit to Cash and a credit to Rent Revenue for $7,400.
A debit to Unearned Rent and a credit to Rent Earned for $4,625.
A debit to Rent Revenue and a credit to Cash for $2,775.
A debit to Rent Revenue and a credit to Unearned Rent for $2,775.
A debit to Unearned Rent and a credit to Rent Earned for $2,775.
Answer:
A debit to Unearned Rent and a credit to Rent Earned for $2,775.
Explanation:
Lease period is 8 months beginning from October 1.
Monthly rate = $925
Cash collected = $7,400 (On October 1)
Amount earned between October 1 and December 31 (3 months)
= 3 × $925
= $2,775
Journal entry made by Fragmental Co. at year-end on December 31 would be
Debit Unearned Rent $2,775
Credit Rent revenue $2,775
Being entries to recognize earned revenue at December 31
Pierson Industries has a beginning retained earnings balance of $42,500. An adjusted trial balance shows total expenses of $97,300 and revenue of $104,800. If dividends for the year were $3,500, determine the ending retained earnings balance for the year.
Answer:
$46,500
Explanation:
Data provided in the question:
Beginning retained earnings balance = $42,500
Total expenses = $97,300
Revenue = $104,800
Dividends for the year = $3,500
Now,
The ending retained earnings balance for the year will be
= Beginning retained earnings balance + Revenue - Total expenses - Dividends for the year
= $42,500 + $104,800 - $97,300 - $3,500
= $46,500
If income is falling and income elasticity of demand for a particular good is negative​, then demand for the good​ is:
Final answer:
If income is falling and the income elasticity of demand for a good is negative, demand for that good increases as it is an inferior good. This inverse relationship is seen in goods like used clothing and public transit, where demand goes up as income decreases.
Explanation:
If income is falling and the income elasticity of demand for a particular good is negative, then the demand for the good is increasing. This is because the good is considered an inferior good, which means that as income decreases, consumers tend to buy more of these goods as opposed to more expensive substitutes. Examples of inferior goods include used clothing, beans, and urban public transit. For instance, studies have shown that the long-run income elasticities of demand for urban public transit in France and Madrid were found to be negative, indicating that with rising incomes, the demand for these services fell.
It is important to understand that an inferior good is not necessarily of lower quality; the term 'inferior' in this context is purely an economic term indicating the inverse relationship between income levels and demand for the good. In summary, when income falls, the quantity demanded for goods with negative income elasticity of demand typically rises.
What type of measures considers ways to reduce consequences together with the overall risk from specific threats and other community goals?
A. Prevention
B. Mitigation
C. Readiness
D. Response
Answer:
(B) mitigation
Explanation:
The art of mitigation ,or decreasing the power or force of something disagreeable, as fury, agony, distress, or outrageous conditions: Social help is the most significant factor in the alleviation of worry among youths. the demonstration of making a condition or result less serious: the alleviation of a discipline.
For instance, to secure against ocean level ascent and expanded flooding, networks may construct seawalls or migrate structures to higher ground
The market demand curve is the sum of all the individual prices at each quantity demanded.a) trueb) false
Answer:
The statement is true
Explanation:
Market demand curve is the sum or total of all the individual demand curves in the given market. It states the quantity demanded of the goods or service through all the individuals at the different or varying price points.
Individual demand curves is the curve which states how much amount of goods will be purchased or bought by the customers at the various or different price points.
Therefore, the statement is true and correct as it total of all the individual prices at each and every quantity demanded.
Which of the following is a valid criticism of the use of money as a store of value in modern economies?a. annual inflationary loss of buying power b. money supply is too narrowly defined c. storing money is wasteful d. imperfect as a unit of account
Annual inflationary loss of buying power is a valid criticism of the use of money as a store of value in modern economies.
Explanation:
As a result of a highly inflationary reduction in the buying ability of an economy, significant negative economic impacts emerge, particularly rising costs of consumer goods and services, with high-interest rates impacting global markets and lower ratings.
The buying power is the buyer's dollar value of credit to purchase additional stocks and bonds on the retirement account against the already marginal securities. Capacity can also be recognised as the purchasing power of the dollar.
The annual inflationary loss of buying power is a valid criticism of using money as a store of value in modern economies. During inflation, the value of money decreases, which can be disadvantageous for those who have their assets stored in the form of cash or in a way that the nominal return doesn't keep up with inflation.
Explanation:The question asks which of the following is a valid criticism of the use of money as a store of value in modern economies. The effective critique of the choices presented could be the annual inflationary loss of buying power. In an economy characterized by inflation, the value of money decreases each year. It's like someone who has invested their money in a bank that gives a 4% interest rate annually, but the inflation rate increases to 5%. Here, the nominal return doesn't keep up with inflation, making the real rate of return for the money invested in the bank account negative at 1%. Essentially, the buying power of cash diminishes during inflation, with cash holders being the most adversely affected. While money can serve as a store of value, it doesn't imply that it's a perfect store of value.
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The government of an Asian country allows its currency to nominally float freely against other currencies, but the government has the right to intervene, buying and selling currency, if it believes that the currency has deviated too far from its fair value. What this country is doing is called a ________ float.A. fixedB. peggedC. capitalD. clean dirty
Answer: Dirty float system.
Explanation:
The dirty float system is also knowns as "managed float".
It is a floating exchange rate in which the central bank of a particular country steps in occasionally to alter the pace at which the country's currency change value. In this system, the central bank acts to prevent external economics shock and guide against its disruptive effect on the domestic economy.
Government spending for goods and services is a(n) ____________ part of total spending in our economy.
Answer:
"Essential".
Explanation:
The basic macroeconomic identity says that national consumption is equal than national production (excluding the net external movements of trade, capital flows and remittances). This identity considers national consumption equal than domestic spending that includes the private sector and the public sector. The public sector spending is in the form of investment and the execution of the public budget.
Which of the following is not a proven strategy for reducing thinking errors in the workplace?A. Use of evidence and informationB. Decision supportC. Management memos and policiesD. Bias awarenessE. Reflection and discussion
Answer: Management memos and policies.
Explanation:
Management memos and policies sometimes may seem unfair or tedious to the employees when they may not actually be that way in reality, which is a form of thinking error.
Thinking error is a wrong pattern of interpreting things/events by an individual which in most cases turns out not to be true.
To avoid thinking errors information and motives should be passed across in a more clearer manner.
Final answer:
Bias awareness by itself is not a proven strategy for reducing thinking errors in the workplace; instead, utilizing evidence, decision support, reflection, and management policies are more effective in promoting effortful thinking.
Explanation:
The question asks which of the following is not a proven strategy for reducing thinking errors in the workplace. According to the provided information, bias awareness on its own is not enough to effectively reduce biases or thinking errors. Early research, such as that by Fischhoff (1982), indicated that simply being aware of biases does not substantially reduce them. Instead, strategies such as the use of evidence and information, decision support systems, reflection and discussion, and management memos and policies are more effective because they promote careful and effortful thinking (Kahneman), and they help transition from intuitive System 1 thinking to a more deliberative System 2 thought process (Chugh, 2004).
If this market behaved like most markets, you would expect:A. equilibrium quantity to rise or fall and equilibrium price to fall.B. equilibrium quantity and price to rise.C. equilibrium quantity and price to fall.D. equilibrium quantity to rise or fall and equilibrium price to rise.
Answer:
C. equilibrium quantity and price to fall.
Explanation:
Equilibrium of price is the intersection of demand and supply curve at a price, which mean quantity demanded is equal to quantity demanded. There is shift in demand or supply curve due change in various factor, like price, income, customer´s preference, technologies etc. If market reachs below equilibrium price then there will be higher demand and low supply in the market. Shift in demand and supply curve lead to increase or decrease in equilibrium price and quantity. If demand curve shift downward, which means there is decrease in quanity demanded and supply does not change, which lead both equilibrium price and quantity to fall.