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Alex777 [14]
2 years ago
9

Yakov, Ana, and Dina want to bake a cake. They are choosing among chocolate cake (C), vanilla cake (V), and red velvet cake (R).

The following table shows each person's preferences for cake flavors. The three friends decide to vote on the kind of cake they want and agree to bake the kind that wins by majority vote.
Yakov Ana Dina
First Choice Chocolate Red Velvet Vanilla
Second Choice Red Velvet Vanilla Chocolate
Third Choice Vanilla Chocolate Red Velvet

1. Suppose Yakov, Ana, and Dina first vote on whether to bake a red velvet cake or a chocolate cake, and then they vote between vanilla cake and the winner from the previous vote.
Between red velvet cake and chocolate cake, the majority will vote for ________, and between this winner and vanilla cake, the majority will vote for . 2. Now, suppose Yakov, Ana, and Dina first vote on whether to bake a chocolate cake or a vanilla cake, and then they vote between red velvet cake and the winner from this vote.
Between chocolate cake and vanilla cake, the majority will vote for ________, and between this winner and red velvet cake, the majority will vote for ________.
3. Yakov, Ana, and Dina's democratic voting system produces transitive preferences.
True or False?
Business
1 answer:
vovangra [49]2 years ago
8 0

Answer:

The specified preferences of Charles, Diana and Juanita. Charles and Juniata prefer chocolate over red velvet cake. Dina favors red velvet over chocolate.

So, when there is voting among red velvet and chocolate cake, the majority will select the Chocolate cake and among winner and vanilla majority will vote for Vanilla cake.

This is because Dina and Juanita favor vanilla over chocolate.

Among Chocolate and vanilla cake, the majority will elect for vanilla and among this winner and red velvet cake, the majority will choose for Red velvet cake.

This is because Diana and juanita favor vanilla over chocolate. So, vanilla cakes get majority elects. When there is voting among vanilla and red velvet , red vanilla acquire majority votes as charles and dina favor red velvet over vanilla.

The statement is False. The preferences are not transitive.

In the first situation chocolate is chosen to vanilla and red velvet is preferred to vanilla. Although, in the second situation, chocolate is favored to red velvet and vanilla is preferred to chocolate. Thus, the preferences do not exhibit transitivity.

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This is ab example of a price floor. It is price that set by the government as a minimum price that would be imposed on a product. This value should be higher than that of the equilibrium price to be effective. It is used in order to prevent the prices to be too low.
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2 years ago
You are the financial manager for a recreation center that has signed an option to purchase new elliptical machines for $22,000
Naddika [18.5K]

Answer:

$19,215.65

Explanation:

To the determine the amount to be invested, we have to find the present value of $22,000 at 7%

P= FV ( 1 + r) ^-n

FV = Future value = $22,000

P = Present value

R = interest rate = 7%

N = number of years = 2

$22,000(1.07)^-2 = $19,215.65

I hope my answer helps you

5 0
2 years ago
Svetlana won $1,000,000 in a contest, to be paid in twenty $50,000 payments at yearly intervals, the first payment paid at the t
goldfiish [28.3K]

Answer: 31155.5

Explanation:

The following can be deduced from the question:

Money won = $1,000,000

Installments made yearly = $50,000

Interest rate = 5%

The yearly deposits made by Svetalana will be: = 500000-x

The future Value of the yearly deposits made by Svetalana will be:

= (50000-x) × (1/(1.05) + (1/(1.05)^2 .....(1/(1+0.05)^20))

= (500000-x) × 33.066

We should recall that the interest from the question is equated to x. This will be:

33.066 × (50000-x) × 0.05 =x

1.6533(50000 - x) = x

82665 - 1.6533x = x

2.6533x = 82665

x = 82665/2.6533

x = 31155.5

7 0
2 years ago
Job shops tend to be __________ while continuous processes tend to be __________. Small-scale and flexible; Large-scale and infl
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Answer:

Small-scale and flexible; Large-scale and inflexible.

Explanation:

Job shops tend to be <u>small scale and flexible</u> while continuous processes tend to be <u>large scale and inflexible</u>.

Job Shop: It is defined as small manufacturing units that produce a specific and customized product in small batches. Most of the products produced in this process have a unique set up. The estimation of costs is generally most difficult when the Job shop process has been chosen.

Continous processes: It is a streamlined process that has a production flow of products from one step to another without any interruption. A larger quantity is produced at one time, not in batches. It requires sophisticated control system.

7 0
2 years ago
Southern Rim Parts estimates its manufacturing overhead to be $396,000 and its direct labor costs to be $990,000 for year 1. The
S_A_V [24]

Answer:

Southern Rim Parts

Journal Entry:

Account Title                        Debit           Credit

Work-in-process inventory  $9,760

Finished goods inventory   24,400

Cost of goods sold              63,440

Manufacturing overhead                      $97,600

To record the prorated under-applied overhead cost.

Explanation:

a) Data and Calculations:

Estimated manufacturing overhead = $396,000

Estimated direct labor costs = $990,000

Actual manufacturing overhead = $434,000

Actual direct labor costs =  $841,000

Predetermined overhead rate = estimated overhead/estimated direct labor costs = $396,000/$990,000 = $0.40 per DL

Applied overhead:

Work-in-process inventory $ 33,640

Finished goods inventory 84,100

Cost of goods sold 218,660

Total overhead applied = $336,400

Underapplied overhead = $97,600 ($434,000 - $336,400)

Prorating the underapplied overhead to:

Work-in-process inventory $33,640/$336,400 * $97,600 = $9,760

Finished goods inventory 84,100/$336,400 * $97,600 = $24,400

Cost of goods sold 218,660/$336,400 * $97,600 = $63,440

Total underapplied overhead = $97,600

5 0
2 years ago
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