Answer:
net Investment income for Troy = $4,104.
Investment interest deduction = $4,104.
Brought forward.
Explanation:
So, from the question above we are his the folly information for the financial report of Troy.
=> Interest income from bank savings account = $1,440.
=> The Taxable annuity receipts = 2,880.
=> City ad valorem property tax on investments = 216.
=> Investment interest expense = 5,040.
Therefore, Troy's net investment income can be calculated by the addition of Interest income from bank savings account with The Taxable annuity receipts, that is;
Troy's investment income = Interest income from bank savings account + The Taxable annuity receipts.
Troy's investment income = $1,440 + 2,880 = $4,320.
Therefore, the net Investment income for Troy is calculated as;
The net Investment income for Troy = Troy's investment income - City ad valorem property tax on investments.
=>The net Investment income for Troy = $4,320 - $216 = $4,104
Therefore let's fill in the gaps given in the question:
"Troy's net investment income is $4,104 and his investment interest deduction is $4,104.
Investment interest expense not deducted this year is BROUGHT FORWARD"
The American Marketing Association Statement of Ethics identifies six key aspirational
ethical values, one of which is
Select one:
a. diversity.
b. integrity.
c. perseverance.
d. charity.
e. openness.
What is not a common complaint about MBO?
One thing that is not a common complaint about MBO is that it is too informal or lacks structure.
What are common complaint about MBO?One of the common complaints about Management by Objectives (MBO) is that it can create a rigid and inflexible environment that focuses too much on achieving specific goals and objectives at the expense of other important factors.
MBO is a structured performance management approach that involves setting specific, measurable, and achievable objectives for employees, aligning these objectives with the overall goals of the organization, and regularly monitoring progress towards these objectives. MBO provides a clear framework for goal-setting and performance evaluation, and it is often used in conjunction with other performance management tools such as performance appraisals and feedback.
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Can someone help me with this ?
Answer:
come over
Explanation:
girls only and ima need hella yay
Cost-volume-profit [CVP] analysis is a widely-used, basic business model. Discuss the underlying assumptions made in the application of the model and whether or not these limit the usefulness of the model. Would you rely on the model
Answer:
Cost-volume-profit [CVP] Analysis
The cost-volume-profit analysis model assumes that the total fixed cost, the variable cost per unit, and the selling price per unit remain constant within the relevant range.
It is very difficult for a company to remain in the relevant range, where the assumptions will be obtained. Market forces, including the dynamics of competition change the underlying assumptions. For example, a company may become more efficient in its operations, thereby reducing its variable cost per unit. The total fixed cost may also change when the company increases its activity levels.
However, these limitations do not make the model less useful. It can be relied on to make short-run profit and pricing decisions.
Explanation:
The management of a business finds the CVP model useful in making important management decisions, especially decisions that relate to budgeting of production and sales, cost control, and profit planning. Management uses the CVP model to determine the break-even point in both units and sales dollars. Overall, management relies on the model to select its competitive products.
Pilsen Company issues 12% bonds with a face value of $10,000 and 600 shares of $10 par common stock in a combined sale, receiving total proceeds of $23,000 on December 31.
Required:
Record the transaction for each independent assumption shown:
1. The common stock has a current market value of $21 per share; the market value of the bonds is not known.
2. The common stock has a current market value of $24.50 per share; the bonds are selling at 98.
Answer:
1. Date Journal Entry Debit Credit
Dec 31 Cash $23,000
Common stock $6,000
(600*10)
Additional paid in capital $6,600
Common stock ( 600*(21-10))
Bonds payable $10,000
Premium on Bonds payable $400
2. Date Journal Entry Debit Credit
Dec 31 Cash $23,000
Discount on Bonds payable $800
Common stock $6,000
(600*10)
Additional paid in capital $7,800
- Common stock ( 13800-6000)
Bonds payable $10,000
Workings
Market value of common stock =600*24.50 = $14700
Market value of Bonds = 10000*0.98 = $9800
Total Market value = $24500
Allocated to Common stock =23000*14700/24500 = $13800
Allocated to bonds = 23000*9800/24500 = $9200
What are goods that consumers buy after making some effort to gather
information and compare options?
A. Raw materials
B. Shopping goods
C. Convenience goods
D. Specialty goods
Shopping goods are goods that consumers buy after making some effort to gather information and compare options. Hence, option B is correct.
What is meant by Shopping goods?When making a decision and a purchase, a consumer often evaluates products based on aspects including compatibility, quality, price, and style. Shopping items are things that are purchased after being compared for price, quality, design, and performance.
Furniture, electronics, clothes, phones, and airline tickets are a few examples of shopping items. Shopping items are ones that are purchased more frequently than specialty items but less frequently than convenience items.
Before making purchases, consumers will frequently compare products because the price, style, and quality of these items might vary substantially.
Thus, option B is correct.
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The Nortons invested $137,500.00 in the Washington Real Estate Mutual Fund (Type "B"). The NAV of the fund at the time of purchase was $55.00 and was back loaded with a loading rate of 3.25%. When the Nortons sold their fund shares, the NAV was $59.95. a. How many shares did the Nortons buy? b. What was the amount of the sale (# of shares X selling price)? c. How much was the back-loading charge? d. What was the net selling price? e. How much profit (or loss) did the Nortons make on their investment?
The Nortons made a profit of $7,906.25 on their investment in the Washington Real Estate Mutual Fund (Type "B").
To determine the number of shares the Nortons bought, we divide their investment amount by the NAV at the time of purchase:
a.Shares bought = Investment amount / NAV at purchase
Shares bought = $137,500.00 / $55.00
Shares bought = 2,500 shares
b. The amount of the sale is calculated by multiplying the number of shares by the selling price:
Amount of sale = Number of shares X Selling price
Amount of sale = 2,500 shares X $59.95
Amount of sale = $149,875.00
c. The back-loading charge is calculated by multiplying the investment amount by the loading rate:
Back-loading charge = Investment amount X Loading rate
Back-loading charge = $137,500.00 X 3.25% (expressed as a decimal)
Back-loading charge = $4,468.75
d. The net selling price is the amount of the sale minus the back-loading charge:
Net selling price = Amount of sale - Back-loading charge
Net selling price = $149,875.00 - $4,468.75
Net selling price = $145,406.25
e. The profit (or loss) on the investment is the net selling price minus the initial investment:
Profit (or loss) = Net selling price - Investment amount
Profit (or loss) = $145,406.25 - $137,500.00
Profit (or loss) = $7,906.25
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What is a list of a business employees and how they are to be compensation
Answer:
1. Base pay package
A base pay package is a standard amount of money an employee receives in exchange for working a set number of hours (typically 40 hours per week). Employees who receive a base pay package are paid an hourly wage or a salary. Although most employees work for base pay, whether they are salaried or hourly employees depends on their role. "An employee working on a project or with defined tasks will usually prefer a base salary package," Jeremy Jarry, CEO of stock-option consultancy B3GIN, told business.com. "Hourly-type packages are often for entry-level positions or low-paying jobs."
2. Commission package
A commission package is compensation given based on employee performance. Some commission packages include a low base-pay salary and high commissions, whereas others offer only commissions. A commission package incentivizes employees to perform well, since their paycheck is tied to their performance. "Often, these compensation packages are given to individuals working in sales," Jarry said. "They will receive a percentage on the turnover they generate or a flat dollar amount if they hit a sales target."
3. Equity package
Equity packages are typically offered to employees in leadership positions or for hard-to-recruit profiles. However, Jarry said giving every employee access to stock options can create a culture of sharing and inclusion, as well as align the interests of investors, founders, and employees. "Equity will vary by organization and may be used as a larger component if cash is tight (e.g., at a startup) and as a method to incentivize employee retention," Roy said.
4. Benefits package
includes additional perks that workers receive on top of their base wages. There are a few employee benefits you are legally required to offer, including family and medical leave, health insurance (for companies with 50 or more full-time employees), FICA (Social Security, Medicare, and federal insurance contributions), unemployment insurance, and workers compensation
5. Bonuses
Bonuses are often tied to the performance of the employee, their team or the company. Although you can offer bonuses to employees of any level, many employers give bonuses to employees in leadership roles.
I really hope this helps :)
What is installment debt?
no se inglés mano / I don't know English, I'm from Mexico
Answer:an installment is a loan that is repaid in regular installments.
Explanation:meaning of installment a sum of money due as one of several equal payments of something
For an economy, operating outside the production possibilities frontier:
For operating outside the production possibilities frontier, the economy should not be possible with the present resources & technology.
The information related to the production possibilities frontier should be considered:
It represents the possible combinations of goods that are manufactured with the available resources.If the combinations are on the PPF so it is feasible & efficient.If the combination is not on the PPF i.e. outside so it can't be feasible.If the combination is inside on the PPF so it is feasible but not efficient.Therefore we can conclude that For operating outside the production possibilities frontier, the economy should not be possible with the present resources & technology.
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The Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Department had 3,000 liters in beginning work in process inventory (30% complete). During the period 71,000 liters were completed. The ending work in process was 5,000 liters (70% completed). All inventories are costed by the first-in, first-out method. What is the total equivalent units for direct materials (using the FIFO method) if materials were added at the beginning of the process
Answer:
73,000 units
Explanation:
Equivalent units
Focus on the work done during the production period when using FIFO.
Direct materials = 68,000 + 5,000 = 73,000 units
therefore,
the total equivalent units for direct materials (using the FIFO method is 73,000 units
Which of the following increases the supply of foreign exchange?
a.
Investments of capital in foreign countries
b.
Increases in tourism and export of local goods
c.
Import of goods and services to a country
d.
Demand for foreign goods and services
10 principles of economics
The 10 principles of economics were given by Gregory Mankiw.
These principles are:
People face tradeoffs: it means that to get one thing, one has to give up on another thing.The cost of Something is What You Give Up to Get It: it refers to the opportunity cost you incur on doing something else. Rational people think at the margin: considering the marginal cost of the product.People Respond to Incentives Trade Can Make Everyone Better Off: trading helps a country in being self-sufficient and enjoying more goods and services. Markets Are Usually a Good Way to Organize Economic Activity. Governments Can Sometimes Improve Economic Outcomes: Government can intervene to allocate resources efficiently.The Standard of Living Depends on a Country's Production: the standard of living increases as the consumption of goods and services, increases.Prices Rise When the Government Prints Too Much Money: when there's a lot of money flowing the market, it will increase the demand for goods which will increase the cost of goods, ultimately leading to inflation.Society Faces a Short-Run Tradeoff Between Inflation and Unemployment.Learn more about "Principles of economics":
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Production is an example of a marketing activity.
Question 1 options:
True
False
Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 10,600 65% Conversion costs $ 12,800 30% A total of 8,500 units were started and 7,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 142,100 Conversion costs $ 359,500 The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. The cost per equivalent unit for conversion costs for the first department for the month is closest to:
Answer:
$46.04
Explanation:
It is important to note that Gunes Corporation uses the weighted-average method. This means we are only interested in the Equivalent units completed and transferred and units in working process.
Total Conversion Cost
Consider the cost in opening work in process and cost during the year.
Total Conversion Cost = $12,300 + $359,000 = $371,300
Equivalent Units
Consider work completed in units completed and transferred and units in working process.
Equivalent Units = 7,400 x 100% + 1,900 x 35 % = 8,065 units
The units in working process have been calculated as :
Units in working process = 800 + 8500 - 7,400 = 1,900
Cost per Equivalent Units
Cost per Equivalent Unit = Total Cost ÷ Total Equivalent Units
= $371,300 ÷ 8,065 units
= $46.04
The cost per equivalent unit for conversion costs for the first department for the month is closest to $46.04
Answer:
$46.16
Explanation:
It is important to note that Gunes Corporation uses the weighted-average method. This means we are only interested in the Equivalent units completed and transferred and units in working process.
Total Conversion Cost
Consider the cost in opening work in process and cost during the year.
Total Conversion Cost = $12,800 + $359,500 = $372,300
Equivalent Units
Consider work completed in units completed and transferred and units in working process.
Equivalent Units = 7,400 x 100% + 1,900 x 35 % = 8,065 units
The units in working process have been calculated as :
Units in working process = 800 + 8500 - 7,400 = 1,900
Cost per Equivalent Units
Cost per Equivalent Unit = Total Cost ÷ Total Equivalent Units
= $372,300 ÷ 8,065 units
= $46.16
Unbanked Partner #1
1. I've had terrible customer service at the banks I've been into, so I don't like them and I
don't trust them. I'm certainly not leaving my money with them,
Being unbanked has become an increasingly common situation for many individuals in recent years. An unbanked person is someone who has no financial account with any institution. Individuals may choose to be unbanked for a variety of reasons, including a lack of trust in banks due to poor customer service or a negative experience.
A person may have experienced a bad encounter with a bank employee and choose to leave the bank and seek other banking options. They may also be unable to maintain a minimum balance in their bank account, and banks may impose fees for accounts that fall below a certain amount. It can be inconvenient to have to travel to a bank to withdraw money, especially if the nearest bank is far away. Additionally, the time spent waiting in line at a bank can be tedious, and it can be difficult to fit into a busy schedule.
There are alternatives to traditional banks that may be more convenient and better suit the needs of unbanked individuals. Credit unions, for example, offer similar services as banks but are often smaller and more focused on serving the community. Mobile banking apps have also become increasingly popular, offering services such as depositing checks and transferring money.
The use of prepaid debit cards is another option that allows for the convenience of a card without the need for a traditional bank account. The unbanked may also benefit from budgeting tools and financial literacy resources, which can help them make informed financial decisions and take control of their finances. Overall, being unbanked does not mean that an individual cannot access financial services or manage their money effectively.
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Costa Rica is a top exporter of coffee. The highest-quality coffee is sold abroad, and the lower-quality coffee is consumed by the native Costa Rican people.
Which basic economic question is not addressed in this information?
A What to produce?
B Why to produce?
C How to produce?
D For whom to produce?
The basic economic question not addressed in this information is for whom to produce . Option D is an appropriate response.
What are the basic economic questions?
Economists address these three questions:
what to producehow to producefor whom to produceThe problem of whom to produce deals with the issue of deciding the category of people who will consume the goods. To make items for the wealthy or the impoverished. Due to a lack of resources, the economy must choose for whom to produce.
Every good created is made for a certain section of society because no single product can satisfy every section of society due to variations in consumer purchasing power.
Hence, Option D is an appropriate response
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Columbus Inc. sells a high end hair dryer in a super competitive marketplace. As a result, market research and competitive pressures influence the determination of their selling price. Their marketing department has done a comprehensive analysis and It looks like a price of $62 would be appropriate given the present business environment. The company has a goal of earning $32 on each unit. What is the target unit cost of each hair dryer
Answer:
Target unitary cost= $30
Explanation:
Giving the following information:
Selling price= $62 per unit
Desired profit= $32 per unit
To calculate the target unitary cost, we need to use the following formula:
Target unitary cost= selling price - desired profit
Target unitary cost= 62 - 32
Target unitary cost= $30
how do u get arrested
Answer:
breaking the laws that's one way to get arrested, if that's what you are asking lol
Answer:
Basically anything that interferes with the law or disturbs peace
Explanation:
1)hurt someone.
2)Spray paint.
3)Punch someone.
4)Fight with officer.
5)Get out of control at school.
6)Get in a fight.
7)Steal a car.
8)Sell drugs.
9)Hit a police car and drive off.
10)Threaten to hurt yourself.
etc
2.suppose 40% of the people entering X electronics store this month make a purchase. If 10 people enter the store, find the expected number making a purchase. Suppose that for the next month X electronics store forecasts 1000 customers will enter the store. (i)What is the expected number of customers who will make purchase? (ii) Find also the Standard Deviation.
i) The expected number of customers who will make a purchase in the current month is 4.
ii) The standard deviation for the number of customers making a purchase in the current month is approximately 1.55.
To find the expected number of customers making a purchase, we can multiply the total number of customers entering the store by the probability of making a purchase.
(i) For the current month:
Number of people entering the store = 10
Probability of making a purchase = 40% = 0.4
Expected number of customers making a purchase = Number of people entering the store * Probability of making a purchase
Expected number of customers making a purchase = 10 * 0.4
Expected number of customers making a purchase = 4
Therefore, the expected number of customers who will make a purchase in the current month is 4.
(ii) To find the standard deviation, we need to consider the binomial distribution since the number of customers making a purchase follows a binomial distribution with parameters n (number of trials) and p (probability of success).
For the current month:
n = Number of people entering the store = 10
p = Probability of making a purchase = 0.4
q = Probability of not making a purchase = 1 - p = 1 - 0.4 = 0.6
Standard deviation (σ) of a binomial distribution is given by the formula:
σ = √(n * p * q)
Substituting the values:
σ = √(10 * 0.4 * 0.6)
σ = √(2.4)
σ ≈ 1.55
Therefore, the standard deviation for the number of customers making a purchase in the current month is approximately 1.55.
For the next month, if the store forecasts 1000 customers to enter the store, we can use the same calculations with updated values of n and p to find the expected number of customers making a purchase and the standard deviation.
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summarize the changes that online distribution has prompted in the businesses of television program production and distribution
The television industry has been impacted by the internet, but not television itself. Because viewers become emotionally invested in the characters and stories on television, it has a remarkable ability to unite people.
How has the Internet changed how we watch television?Distribution networks have an impact on both how items are priced and where they are positioned in certain markets. The ideal distribution system would have as few stops as possible between the final consumer and the product or service. A channel of distribution must be profitable and effective.
Additionally, several tale lengths were possible with streaming. You weren't forced to fill the time in between advertising; your films could be as long as you desired. They may focus on a single question or twenty. You may also keep an eye on comments in real-time and adapt or change your content in accordance with the information that viewers are most interested in.
Internet use has had an impact on the television industry, but not television itself. Television has a wonderful capacity for bringing people together because viewers emotionally invest in the characters and tales. It won't matter if you watch the episodes one at a time or all at once; it remains the same.
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a contractor signed an agreement to contruct a dam that requires four years to complete for a contract price of birr 100000000. the contractor to collected 15% of the contract price in advance. the cost to be incurred to complete the dam is estimated to birr 80000000.if the point of sale method is assumed,what is the revenue recognized at the time of
sale?
The contractor's entry at the time of the contract is as follows if the receipt of payment method is used: Debit: Cash equals 15,000,000 Credit (15% of 100,000,000): Unmerited Income = 15,000,000 .
How do I determine annuity's present value?An annuity's present value is the current value of a series of equal payments that will be made regularly in the future. Using a discount rate that reflects the time value of money, it is calculated by discounting the future payments to their present value. The following is the formula for determining an annuity's present value: PV is equal to PMT x [(1 - (1 + r) -n) / r], where: PV is the annuity's current value, PMT is the payment amount, and r is the discount rate (n).
The following is the revenue that is recognized at the time of sale if the point of sale method is assumed: 100,000,000 x 15% = 15,000,000 .
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PLEASE HELP ME QUICK!
Which of these is not an example of a trade restriction?
a. paying a subsidy to domestic farmers
b. charging a tariff on imports
c. taking land to build an airport
d. limiting the import of certain goods
Answer:
c. taking land to build an airport.
Explanation:
While the other options (a, b, and d) are examples of trade restrictions, the act of taking land to build an airport is not directly related to trade restrictions. It is more related to the acquisition of land for public infrastructure development, which may involve eminent domain or other legal processes.
If anyone knows about businesses can you help me please
Answer:
I believe it is team standard
Explanation:
One way a group of people can become an effective team is to create team standards. These are essentially the rules that govern how the team works and behaves. To be effective, the team standards need to be set and agreed to by the team members and not dictated to them by a boss or manager.
Ryan Terlecki organized a new Internet company, CapUniverse, Inc. The company specializes in baseball-type caps with logos printed on them. Ryan, who is never without a cap, believes that his target market is college and high school students. You have been hired to record the transactions occurring in the first two weeks of operations.
a. Issued 2,700 shares of $0.01 par value common stock to investors for cash at $27 per share.
b. Borrowed $68,000 from the bank to provide additional funding to begin operations; the note is due in two years.
c. Paid $1,150 for the current month's rent of a warehouse and another $1,150 for next month's rent.
d. Paid $1,800 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense).
e. Purchased furniture and fixtures for the warehouse for $10,000, paying $3,000 cash and the rest on account. The amount is due within 30 days.
f. Purchased for $3,200 cash The University of Pennsylvania, Notre Dame, The University of Texas at Austin, and Michigan State University baseball caps as inventory to sell online.
g. Placed advertisements on Google for a total of $250 cash.
h. Sold caps totaling $2,300, half of which was charged on account. The cost of the caps sold was $1,500. (Hint: Make two entries.)
i. Made full payment for the furniture and fixtures purchased on account in (e).
j. Received $250 from a customer on account.
Required:
For each of the transactions, prepare journal entries.
Answer:
Entries and their narrations are posted below
Explanation:
We will record assets and expenses on the debit as they increase during the year and will record liabilities and capital on the credit side as they increase during the year or vice versa.
a. Issued 2,700 shares of $0.01 par value common stock to investors for cash at $27 per share
Dr Cash (2700 x $27) 72,900
Cr Common stock 27
Cr Additional paid-in capital 72,873
b. Borrowed $68,000 from the bank to provide additional funding to begin operations; the note is due in two years.
Dr Cash $68,000
Cr Notes payable $68,000
c. Paid $1,150 for the current month's rent of a warehouse and another $1,150 for next month's rent.
Dr Warehouse rent $1,150
Dr Prepaid rent $1,150
Cr Cash $2,300
d. Paid $1,800 for a one-year fire insurance policy on the warehouse
Dr Prepaid insurance $1,800
Cr Cash $1,800
e. Purchased furniture and fixtures for the warehouse for $10,000, paying $3,000 cash and the rest on account.
Dr furniture and fixture $10,000
Cr Cash $3,000
Cr Account payable $7,000
f. Purchased inventory for $3,200 cash
Dr Inventory $3,200
Cr Cash $3,200
g. Placed advertisements on Google for a total of $250 cash.
Dr Advertisement expense $250
Cr Cash $250
h. Sold caps totaling $2,300, half of which was charged on account. The cost of the caps sold was $1,500.
Dr Cash $1,150
Dr Account receivable $1,150
Cr Caps revenue $2,300
Dr Cost of goods sold $1,500
Cr Inventory $1,500
i. Made full payment for the furniture and fixtures purchased on account
Dr account payable $7,000
Cr Cash $7.000
j. Received $250 from a customer on account.
Dr cash $250
Cr account receivable $250
The Aleutian Company produces two products, Rings and Dings. They are manufactured in two departments—Fabrication and Assembly. Data for the products and departments are listed below. Product Number of units Labor hrs per unit Machine hours per unit Rings 1,000 4 6 Dings 2,000 3 9 All of the machine hours take place in the Fabrication Department, which has an estimated overhead of $90,000. All of the labor hours take place in the Assembly Department, which has an estimated total overhead of $105,000. The Aleutian Company uses departmental overhead rates. The Fabrication Department uses machine hours for an allocation base, and the Assembly Department uses labor hours. What is the Fabrication Department overhead rate per machine hour?
Answer:
$3.75
Explanation:
The computation of the fabrication department overhead rate per machine hour is shown below:
But before that first determine the following calculations
The Total number of hours is
= 1,000 ×6 + 2,000 × 9
= 6,000 + 18,000
= 24,000
And, the total estimated overhead is $90,000
So, the overhead rate per machine hour for the fabrication department is
= $90,000 ÷ 24,000 hours
= $3.75
The statement, "All basketball players are tall" is a stereotype.
Please select the best answer from the choices provided
)T
)F
Answer:
true
Explanation:
Answer:
that is true
Answer:
because it is a stereotype
a survey taken by residents from the imaginary town of cardsburgh tells economists that the following changes result from a 10% fall in income:
Joker cards is a luxury good
For King cards is an inferior good
Tokens is a normal good
How do we compute the income elasticity of demand for each good?To calculate the income elasticity of demand for each good, we can use the following formula: Income Elasticity of Demand = (% change in quantity demanded) / (% change in income)
For Joker cards:
Income Elasticity of Demand = (-32%) / (-13%) = 2.46
As the income elasticity of demand for joker cards is greater than 1, we can say that joker cards are a luxury good. This means that as income falls, demand for joker cards will decrease more than proportionally.
For King cards:
Income Elasticity of Demand = 5% / (-13%) = -0.38
Since the income elasticity of demand for king cards is less than 0, we can say that king cards are an inferior good. This means that as income falls, demand for king cards will actually increase.
For Tokens:
Income Elasticity of Demand = (-7%) / (-13%) = 0.54
Since the income elasticity of demand for tokens is between 0 and 1, we can say that tokens are a normal good, but a necessity. This means that as income falls, demand for tokens will decrease, but not as much as the decrease in income.
The related full question' Using the income elasticity of demand to characterize goods A survey taken by residents from the imaginary town of Cardsburgh tells economists that the following changes result from a 13% fall in income: • A 32% decrease in the quantity of jokers demanded • A 5% increase in the quantity of kings demanded • A 7% decrease in the quantity of tokens demanded Compute the income elasticity of demand for each good"
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The best managed companies will have
O some accounts that will prove to be uncollectible.
O a very lenient credit policy.
a very strict credit policy.
O no uncollectible accounts.
3. The following table gives the short-run total costs for various levels of output of a small bakery in Accra: QTC 0 300 400 0 1 2 3 465 4 495 540 600 7 700 (a) For each level of output, find short-run TFC, TVC, AFC, AVC, and MC. 5 6
The table displays the short-run total costs of a small bakery in Accra at various output levels. The previously mentioned formulas can be used to determine the short-run TFC, TVC, AFC, AVC, and MC for each level of output.
How to find these cost?When the output level is zero, for instance, the total fixed cost (TFC) is 300, the total variable cost (TVC) is 0, the average fixed cost (AFC) is undefined (since the output is zero), the average variable cost (AVC) is undefined (since the TVC is zero), and the marginal cost (MC) is also undefined (as there is no change in output).
The TFC, TVC, AFC, AVC, and MC can also be determined for each level of output in the table. The TFC remains constant as the output level rises, while the TVC rises, the AFC falls, the AVC increases at first and then decreases, and the MC decreases initially before increasing.
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