BUSN 11 Introduction to Business Student Edition
11th Edition
ISBN: 9781337407137
Author: Kelly
Publisher: Cengage Learning
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Question
Chapter 4, Problem 1LO
Summary Introduction
To discuss: Ethics and the universal ethical standards.
Expert Solution & Answer
Explanation of Solution
The set of beliefs about the right and wrong is known as ethics. In every country their laws set the minimum ethical standards, but in original the ethical standards are higher than the legal minimums. People all over the world tend to accept some core values that can be a starting point for the universal ethical standards. The universal ethical standards are inclusive of respect, trustworthiness, caring, fairness, citizenship, and responsibility.
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Students have asked these similar questions
Match the budget types to the definitions.
Budget Types
5. Financial
6. Flexible
7. Operating
8.
Operational
9. Static
10. Strategic
Definitions
a. Includes sales, production, and cost of goods sold budgets
b. Long-term budgets
c. Includes only one level of sales volume
d. Includes various levels of sales volumes
e. Short-term budgets
f. Includes the budgeted financial statements
14. Cain Company is a sporting goods store. The company sells a tent that sleeps six people. The store expects to sell 280 tents in 2024 and 360 tents in 2025. At the beginning of 2024, Cain Company has 30 tents in Merchandise Inventory and desires to have
60% of the next year's sales available at the end of the year. How many tents will Cain Company need to purchase in 2024?
Begin by selecting the labels, then enter the amounts to compute the budgeted tents to be purchased.
Plus:
Total tents needed
Less:
Budgetec
Budgeted tents returned
Budgeted tents to be sold
Desired tents in ending inventory
Tents in beginning inventory
Z
1. Case 0) Baseline case
Table 1: Power Plant Capacity and Marginal Cost: Case 0
Plant #
Energy Source
Capacity (MW)
MC (S/MWh)
1
Coal
300
45
2
Oil
100
90
3
4
Natural Gas
Nuclear
500
50
600
0
(a) Calculate the capacity mix of this market by energy source.
(b) Draw a supply curve of this wholesale generation market.
Table 2 below shows the demand levels for selected hours of a representative day. We will
consider only these four hourly markets for our analysis. Note that the 6 PM demand is the
highest demand level of the day.
Table 2: Hourly Demand (selected hours)
Hour
Demand (MWh)
4 AM
500
10 AM
700
2 PM
800
6 PM
1000
(c) Find the market clearing prices and calculate how much electricity each power plant
generates in the hourly market (4AM, 10AM, 2PM, and 6PM).
(d) Find the average price of electricity (by taking a simple average of hourly prices; [P(4am)
+ P(10AM) + P(2PM) + P(6PM)]/4).
Chapter 4 Solutions
BUSN 11 Introduction to Business Student Edition
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