When prices of different goods are increasing by different amounts?

This pricing tactic works because although we can remember the exact price right when we see the price, after a few weeks we for

PilotLPTM [1.2K]

Answer: A. the 99 principle

Explanation:

This strategy, often called "charm pricing," involves using pricing that ends in "9" and "99."

With charm pricing, the left digit is reduced from a round number by one cent. We come across this technique every time we make purchases but don’t pay attention. For example, your brain processes $3.00 and $2.99 as different values: To your brain $2.99 is $2.00, which is cheaper than $3.00.

How is this technique effective? It all boils down to how a brand converts numerical values. In 2005, Thomas and Morwitz conducted research they called "the left-digit effect in price cognition." They explained that, “Nine-ending prices will be perceived to be smaller than a price one cent higher if the left-most digit changes to a lower level (e.g., $3.00 to $2.99), but not if the left-most digit remains unchanged (e.g., $3.60 to $3.59).”

4 0

2 years ago

If you were advising which actions a company should take to perform value chain activities more cost effectively, you would not

Shalnov [3]

Answer: redesign its products to eliminate those features that might have market appeal, but would excessively increase production costs.

Explanation:

The main aim of every organization are typically cost minimization and profit maximization. If I wanted to advise a company on the kind of actions to take to perform value chain activities more cost effectively, I'll tell them to improve their supply chain efficiency as well as use economies of scale and effective utilization of its resources.

Therefore, redesigning its products to eliminate those features that might have market appeal, but would excessively increase production costs is wrong as this will only lead to increase in cost.

4 0

2 years ago

Equivalent Units of Conversion Costs The Rolling Department of Kraus Steel Company had 200 tons in beginning work in process inv

umka21 [38]

Answer:

Equivalent units = 3,855 units

Explanation:

Equivalent unit are notional whole units which represent incomplete work and are used to apportion cost between working in progress and completed work.

Equivalent unit is calculated as:

Degree of completion (%) × Units .

The equivalent units can be calculated by using either the first in first out (FIFO) or weighted average method.

Here, we will use the FIFO.

FIFO: Under this method, to account for the completed units of a particular period, it is assumed that the opening inventory units must first be completed. That is, the first set of completed units should be the opening inventory.

The table below has been set out for explanation:

Items Units Notes Workings Equiv.Units

Opening inventory 200 1 40% × 200 80

Fully worked 3,700 2 100% × 3700 3700

Closing Inventory 300 3 25% × 300 75

Equivalent unit 3,855.0

Notes

1. 60% work has already been done in the previous period (September) so in October the balance is done.

2. The fully work represents units of new work introduced in October and completed in the same period. The value is 3900- 200 = 3700

3. The closing inventory is the units of new work started in October but not yet completed at the end of October.

Equivalent units = 3,855.0

4 0

2 years ago

Show how Accounts Receivable, Notes Receivable, and their related accounts would be reported in the current assets section of a

KiRa [710]

Answer:

See explaination and attachment.

Explanation:

An account balance sheet is a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.

A partial balance sheet is a financial instrument that is used to visualize the list of total debits and credits of the accounts and the balance of each debtor or creditor.

Please kindly refer to attachment for the Partial balance sheet .

6 0

2 years ago

Choose all the scenarios below that would cause a decrease in the supply of labor in the agricultural industry.

Alika [10]

Answer:

b. As the population in the United States ages, fewer workers have the physical ability to work in the industry.
d. Due to global warming, working conditions on farms have become undesirable for more and more people.
e. The adoption of strict immigration laws reduces the number of legal and illegal immigrants in the United States.
h. New machinery is replacing workers in the harvesting of crops.

Explanation:

With workers getting older and being unable to be as productive as they used to be, they will have to drop out of industries that require physical strength including farming. This will therefore reduce people working in agriculture.

With global warming having made working in the fields much more harsh, people are avoiding careers that would keep them outdoors including farming which has led to a drop in the labor supply for agriculture.

A significant portion of workers in agriculture are immigrants so when immigration laws limit the number of immigrants coming in, labor supply in agriculture will reduce.

New machinery reduces the need for workers in agriculture so the more they are bought, the less workers are needed. This will therefore directly reduce the number of people working in agriculture.

7 0

1 year ago