Ahmed wants to Suy a used refrigerator. His reservation price is 300 AED. Saeed would not accept less than 250 AED for his old refrigerator. Explain whether Saeed would complete the sale using the concept of reservation price.
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Ahmed wants to Suy a used refrigerator. His reservation price is 300 AED. Saeed would not accept less than 250 AED for his old refrigerator. Explain whether Saeed would complete the sale using the concept of reservation price.
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- Ali is the manager of a well reputed organization. He is assigned to auction some assets of the firm. Instead of organizing an auction Ali compiles a list of items and puts an advertisement on the paper stating that anyone who is willing to purchase the said articles for Rs. 1 Lac can contact him directly by 15th April 2021 through email only. Ahmed saw the advertisement and emailed Ali on 12th April asking for pictures of the items or if it was possible for him to view the items. Ali provided the pictures. Ahmed then emailed Ali that he is willing to purchase the said articles for Rs. 90 thousand and wrote that if Ali did not reply he will assume that Ali has accepted the offer. On 14th April at 3 pm, Saad emailed Ali and said the following, “I will purchase the listed articles.” On 14th April at 4:30 pm, Khan called Ali and brokered a deal to purchase the articles. Answer the following questions Advise Saad if he can purse Ali to obtain the articlesAli is the manager of a well reputed organization. He is assigned to auction some assets of the firm. Instead of organizing an auction Ali compiles a list of items and puts an advertisement on the paper stating that anyone who is willing to purchase the said articles for Rs. 1 Lac can contact him directly by 15th April 2021 through email only. Ahmed saw the advertisement and emailed Ali on 12th April asking for pictures of the items or if it was possible for him to view the items. Ali provided the pictures. Ahmed then emailed Ali that he is willing to purchase the said articles for Rs. 90 thousand and wrote that if Ali did not reply he will assume that Ali has accepted the offer. On 14th April at 3 pm, Saad emailed Ali and said the following, “I will purchase the listed articles.” On 14th April at 4:30 pm, Khan called Ali and brokered a deal to purchase the articles. Answer the following questions. Differentiate between an offer and invitation to treat. In para 2. When Ahmed asks…After visiting several automobile dealerships, Richard selects the used car he wants. He likes its $12,900 price, but financing through the dealer is no bargain. He has $2,500 cash for a down payment, so he needs an $10,400 loan. In shopping at several banks for an installment loan, he learns that interest on most automobile loans is quoted at add-on rates. That is, during the life of the loan, interest is paid on the full amount borrowed even though a portion of the principal has been paid back. Richard borrows $10,400 for a period of four years at an add-on interest rate of 10 percent. What is the annual percentage rate (APR)?
- After visiting several automobile dealerships, Richard selects the used car he wants. He likes its $12,900 price, but financing through the dealer is no bargain. He has $2,500 cash for a down payment, so he needs an $10,400 loan. In shopping at several banks for an installment loan, he learns that interest on most automobile loans is quoted at add-on rates. That is, during the life of the loan, interest is paid on the full amount borrowed even though a portion of the principal has been paid back. Richard borrows $10,400 for a period of four years at an add-on interest rate of 10 percent. What is the total interest on Richard’s loan? What is the total cost of the car?Sarah is a buyer for a department store. A supplier offers her a 5 percent discount if shetriples her usual order quantity. Which of the following best explains why Sarah shouldtake the deal?a. Even though the increase in the operating costs is likely to exceed the benefit of the5 percent discount, Sarah feels that her customers expect the lowest possible price.b. Sarah hopes that customers are likely to purchase more if they see an increase in theinventory in the store.c. Sarah knows that even though she may triple her order quantity, this would increaseher operating costs by far less than a factor of three.d. Sarah knows that the sum of operating costs is probably less than 5 percent of thepurchase cost, so an increase in the operating costs is unlikely to be a concern.Rihana is the owner of Riahan Furniture Sdn Bhd, a company involve in rattan furniture industry, which manufactures various designs and sizes of furniture in sets and individual items. All these years, the company has always adopted a simple approach of pricing and gives discounts when customer negotiate the price. Rihana feels that a high turnover is important for improved profitability of the business. There are three types of furniture which Riahan Sdn Bhd produces namely Type A, Type B and Type C. The following information are related to Riahan Sdn Bhd production and demand for the month of August 2021 for a unit (set) of product Type A, Type B and Type C: Details Type A Type B Type C Material Consumption (in kg) 50 70 90 Direct Labour hours 24 30 40 Manufacturing overheads RM45 RM50 RM40 Other fix Overheads RM35 RM25 RM45 Demand for the Month (sets) 200 400 120 Notes: Materials are charged at RM20 per kg and…
- Xolani has just completed matric and has enrolled at a University in Cape Town, tocomplete a BCom Degree. His dad is unable to drop and fetch Xolani due to workcommitments and therefore believes it best to purchase Xolani an entry-level car, notmore than R150 000. He has given Xolani the freedom to choose and purchase thecar. Xolani has two older brothers who are car enthusiasts with lots of experience.He decides to take them along to the car dealerships. They helped him find a car thatwas safe with a fair number of additional features and style. Xolani was happy to bedriving himself to Varsity on his first day. 1 - Read the scenario above and identify examples of the following family roles. Youmay make assumptions as you see fit. Explain your answers. Initiator Influencer User Decision maker Purchaser 2 - Read the scenario above and identify examples for each phase of Xolani’s decisionmaking process, when purchasing his car.Explain why it is not necessary to include product cost {priceor price times qua ntity) in the EOQ model, but the quantitydiscount model requires this information.ABC Corporation has determined that his cologne is selling at 300 per bottle with a fixed cost of Php 2,000 and a variable cost of Php100 per unit., EFG has decided to order 40 bottles of the cologne. Will you decide to produce the products based on the number of orders or will you decline the order? Why? Given the situation of ABC Corporation, suppose EFG has decided to order 5 bottles only, would you decide to produce the products? Why? What is the break even point of ABC Corporation before they can decide to produce the units? *
- Demand is 20,000 units per month. The holding cost is 19.6% per year. Each order incurs a fixed cost of $400. a.The supplier offers an all unit discount pricing schema with a price of $5 per unit for orders under 30,000 and a price of $4.9 for all orders of 30,000 or more. How many units should be ordered per replenishment? b.Suppose that the supplier offers a marginal unit discount pricing schema with a price of $5 per unit for the first 30,000 and a price of $4.9 per unit for each unit above 30,000 in an order. How many units should be ordered per replenishment?1. Maxmin Trading Company buys 1,000 pcs of chair per month. The cost per chair is Php500 and ordering cost is Php400. The inventory carrying cost is estimated at 10% of the price of the chair. Determine the EOQ. 2. Maxmin Trading Company buys 1,000 pcs of chair per month. The cost per chair is Php500 and ordering cost is Php400. The inventory carrying cost is estimated at 10% of the price of the chair. Determine the total carrying cost. 3. Maxmin Trading Company buys 1,000 pcs of chair per month. The cost per chair is Php500 and ordering cost is Php400. The inventory carrying cost is estimated at 10% of the price of the chair. Determine the total ordering cost. 4. Maxmin Trading Company buys 1,000 pcs of chair per month. The cost per chair is Php500 and ordering cost is Php400. The inventory carrying cost is estimated at 10% of the price of the chair. Determine the number of orders required per year. 5. Minmax Processing Company has an average requirement of 5 boxes of…Larissa Warren, the owner of East Coast Yachts, has been in discussions with a yacht dealer in Monaco about selling the company’s yachts in Europe. Jarek Jachowicz, the dealer, wants to add East Coast Yachts to his current retail line. Jarek has told Larissa that he feels the retail sales will be approximately €8 million per month. All sales will be made in euros, and Jarek will retain 5 percent of the retail sales as commission, which will be paid in euros. Because the yachts will be customized to order, the first sales will take place in one month. Jarek will pay East Coast Yachts for the order 90 days after it is filled. This payment schedule will continue for the length of the contract between the two companies. Larissa is confident the company can handle the extra volume with its existing facilities, but she is unsure about any potential financial risks of selling yachts in Europe. In her discussion with Jarek, she found that the current exchange rate is $1.34/€. At this exchange…