Colin Was a Professional Classical Guitar Player Until His Motorcycle

question 12

Multiple Choice

Colin was a professional classical guitar player until his motorcycle accident that left him disabled.After long months of therapy,he hired an experienced luthier (maker of stringed instruments) and started a small shop to make and sell Spanish guitars.The guitars sell for $700 and the fixed monthly operating costs are as follows:
$$\begin{array} { | l | l | } \hline \text { Rent and electricity and gas } & \$ 1210 \\\hline \text { Wages and benefits to luthier } & 3100 \\\hline \text { Other expenses } & 600 \\\hline\end{array}$$
Colin's accountant told him about contribution margin ratios and he understood clearly that for every dollar of sales,$0.85 went to cover his fixed costs,and that anything past that point was pure profit.
Colin wishes to earn $5100 of operating profit each month.Calculate the amount of sales revenue required to achieve the target profit.

• A) $6000
• B) $11,777
• C) $4910
• D) $5100

Acquire knowledge on the symptoms of groupthink and how it leads to defective decision-making.

Understand the foundational theories and phenomena related to social psychology and group dynamics, including Triplett’s study on competition and Allport's concept of social facilitation.

Identify and describe the key conditions and outcomes of social facilitation, including the impact of task complexity and the presence of others on individual performance.

Describe the characteristics that define a group versus a mere collection of individuals, including concepts of entitativity and interaction among members.

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Definitions:

Transactional Leaders

Leaders who focus on the exchanges between themselves and their followers, using rewards and punishments to achieve organizational goals.

Exchanges

Transactions or communications between individuals or entities.

Managerial Grid

Identifies five leadership styles: 1,1 impoverished; 9,1 sweatshop; 1,9 country club; 5,5 status quo; and 9,9 fully functioning.

Marketing Manager

A professional responsible for planning, executing and overseeing marketing strategies to promote a brand, product, or service.