When deciding to lease a new cutting machine or continue using the old machine, the irrelevant cost is $10,000, the selling price of the old machine. Therefore, the correct answer is option a.
This is because the selling price of the old machine is a sunk cost, meaning it has already been incurred and cannot be recovered regardless of the decision to continue using the old machine or to lease a new one.
Therefore, it should not be considered in the decision-making process. The relevant cost in this scenario is the annual savings in operating costs if the new machine is purchased, which is option (d) $3,000. This is because it represents the additional cost or savings that would result from choosing one option over the other.
The cost of the new machine, option (b) $20,000, is also relevant because it represents the additional cost of leasing a new machine compared to continuing to use the old one. By considering only the relevant costs, the decision maker can determine which option would be more financially beneficial for the company.
In this case, if the annual savings in operating costs from leasing the new machine exceeds the additional cost of leasing it, then it would be the more financially beneficial option. Otherwise, continuing to use the old machine would be the better choice.
In summary, the irrelevant cost in this scenario is the selling price of the old machine, while the relevant costs are the cost of the new machine and the annual savings in operating costs. Therefore, the correct answer is option a.
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Complete Question:
When deciding to lease a new cutting machine or continue using the old machine, the irrelevant cost is __. Explain in 180 words with the summary.
a. $10,000, the selling price of old machine
b. $20,000, cost of new machine
c. $50,000, cost of old machine
d. $3,000, annual savings in operating costs if the new machine is purchased
B) The rate remains the same, even if income increases or decreases.
C) The rate decreases as income increases.
D) The rate decreases as income decreases.
The correct answer is
B- The rate remains the same, even if income increases or decreases.
:)
b. a maximum wage that firms may pay workers.
c. a minimum wage that firms may pay workers.
d. both a minimum wage and a maximum wage that firms may pay workers.
Answer:
A minimum wage that firms may pay workers (Option C)
Explanation:
A minimum wage is the lowest pay, wage or salary permitted by law for employers to pay their workers. In other words, a minimum wage is the price benchmark which workers should not go below in offering labor.
Minimum wages are legally established to protect or guard workers against unduly low pay or exploitation. Most countries of the world have minimum wage legislation that was introduced before the end of the 20th century.
Minimum-wage laws dictate the minimum wage that firms may pay workers. They don't set an exact or maximum wage, allowing firms to pay more based on various factors.
Minimum-wage laws govern c. a minimum wage that firms may pay workers. These laws are put in place to ensure that workers receive a basic level of compensation for their labor. In other words, they set a baseline wage that employers cannot legally go below.
However, it's essential to note that minimum wage does not represent a universal wage. Companies are free to pay above the minimum wage based on the demand for labor, skill levels, experience, job performance, and other factors.
These laws are important for protecting workers from exploitation and solving income inequality to some degree.
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Answer:
Public Relations
Explanation:
A. Public Relations
B. Advertisements
C. Direct Marketing
D. Sales Promotions
evolutionary promotion or fundamental promotion
Application of the VRIN (Value, Rarity, Inimitability, Non-substitutability) framework to assess Sandlands Vineyards' sustainable competitive advantage involves considering their value to customers, rarity of their resources and capabilities, the difficulty of imitating these, and the lack of substitutes of their products. Detailed information about Sandlands Vineyards and their market is required for a definitive conclusion.
To determine if Sandlands Vineyards has a sustainable competitive advantage in the premium wine market, we need to use the VRIN framework. The VRIN framework assesses the Value, Rarity, Inimitability, and Non-substitutability of resources or capabilities of a firm.
Firstly, the Value of Sandlands pertains to the quality of their wine, their reputation, and their pricing strategy. If these bring significant value to the customers, then they have a potential advantage.
Secondly, Rarity is about whether the resources or capabilities are unique to Sandlands. If their techniques or the quality of their grapes are not easily available or copied by competitors, they have a potential advantage.
Thirdly, Inimitability is about whether competitors find it hard to replicate those resources. A unique location, unique grape varieties or exclusive processes can provide this advantage.
Lastly, Non-substitutability checks if there are no direct substitutes for what Sandlands offers. If customers cannot find similar quality, taste, or price wine easily, this gives them an advantage.
To conclude, a definitive answer requires detailed information about the vineyard and the premium wine market. But the VRIN framework provides a good starting point to assess this.
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Appointment reminder, missed appointment
Missed appointment, appointment reminder
Termination, missed appointment
Missed appointment letters are sent to patients to notify them of their failure to attend a scheduled appointment. Conversely, appointment reminder letters are sent out ahead of a scheduled appointment to help patients remember their upcoming appointment. Therefore, missed appointment letters notify patients of no-shows, while appointment reminder letters inform them of their upcoming appointments.
In the healthcare field, two types of letters figure prominently in communication with patients, namely, missed appointment letters and appointment reminder letters. Missed appointment letters are sent to patients who have failed to show up for their scheduled appointments. These serve to inform the patients of their absence and often include a note on the significance of attending their appointments.
On the other side, appointment reminder letters are sent to patients before their scheduled appointments. It serves to remind patients of their upcoming engagements and typically includes the date and time of the appointment. In conclusion, missed appointment letters notify patients of no-shows, while appointment reminder letters inform patients of upcoming appointments.
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