What are the three criteria used in patronage selection?
What will be an ideal response?
Political/party loyalty, personal acquaintance, and technical competence or merit.
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Brands that are owned by ________ are called private-label brands.
A. manufacturer's reps B. wholesalers C. supply chain specialists D. retailers E. manufacturers
Kingston Corp is considering a new machine that requires an initial investment of $480,000 installed, and has a
useful life of 8 years. The expected annual after-tax cash flows for the machine are $89,000 for each of the 8 years and nothing thereafter. a. Calculate the net present value of the machine if the required rate of return is 11 percent. b. Calculate the IRR of this project. c. Should Kingston accept the project (assume that it is independent and not subject to any capital rationing constraint)? Explain your answer.
The owner of an amusement park has decided to open a second entry booth and hire another employee to service customers entering the park. Customers arrive at the rate of 20 per hour and will wait in a single line until one of the two employees is available to provide service. The average service time of both employees is 2 minutes to provide service. The arrival rate follows Poisson distribution, and the service time follows a negative exponential distribution. Determine the probability that no customers are there in the system.
a. 50% b. 60% c. 70% d. 45%
Defenses for firms charged with Robinson-Patman Act violations include:
a. meeting competition b. predatory pricing justification c. foreign discounting d. none of the other choices e. all of the other specific choices