Answer:
2 Days
Explanation:
To clarify, we need to restate the utility function for clarity
U=V^{1/2}
1. Probability of an illness occurring in the family is 20%
2. If an illness occurs, the total number of days impacted is calculated as:
Total vacation days = 10 days x Probability of illness = 20%
= 10 x 0.2 = 2 days
This indicates that should an illness occur based on this probability, 2 out of the 10 vacation days will be affected
3. The number of remaining vacation days to enjoy would thus be 10-2 = 8 days
This indicates that even after accounting for 2 days of potential illness, the family can still enjoy their vacation period.
V= 2 days
The right option is e, controlling.
The function of controlling in management involves the systematic attempts by business management to evaluate performance against established plans, standards, or objectives by assessing whether operations align with these goals or if adjustments are necessary.
Answer:
Monopolistic competition.
Explanation:
This market structure known as monopolistic competition arises when multiple businesses provide similar products that cannot be seen as perfect substitutes for one another. In this setting, numerous sellers vie for a superior market position within a specific product or industry. This form of monopolistic competition features unrestricted entry for new firms, heightening the level of competition as companies strive for consumer preference.
Response:
a. Based on the company’s accounting records, the net operating income for product D14E is: (Net losses should be indicated with a negative sign.)
b. Evaluating the financial impact of discontinuing product D14E: It would lead to a financial disadvantage of -$68,000, so the product should remain in production as its losses would otherwise rise
- The financial summary is:
total sales $670,000
- variable expenses $295,000
- fixed manufacturing expenses $246,000
- fixed selling and administrative expenses $194,000
net loss = $65,000
If product D14E were to be cut, $196,000 + $111,000 = $307,000 of fixed expenses could be avoided, but $133,000 would still remain unavoidable. Discontinuing the product would increase losses by $133,000 - $65,000 = $68,000
