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2 years ago

Products whose demand rises when another product’s price increases are called.

Business

1 answer:

Naya [18.7K]2 years ago

5 0

Close Substitutes.

When the price of a commodity rises, the demand for its close substitute is likely to rise because the price of the close substitute remains the same.

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Slav-nsk [51]

Answer:

IV,I,III,V,II........

8 0

3 years ago

Consumers will willingly make less-informed decisions: a. if information costs are less than the perceived benefits of gatheri

ikadub [295]

Answer:

The correct answer is option d.

Explanation:

In a perfectly competitive market, it is assumed that the buyers and sellers have perfect information and take their economic decisions accordingly. But in reality, buyers and sellers do not have perfect information.

Information comes at a cost, which can sometimes be high. The rational decisions of the consumers without full information can lead to irrational outcomes.

If the cost of gathering information is less than or equal to the benefit earned from the information, the consumers will gather information and make fully informed decisions.

But if the cost is higher than the benefits, the consumers will not gather information and make a less informed decision.

7 0

3 years ago

Exercise 19-13 Variable cost analysis for a special order LO A1 Grand Garden is a luxury hotel with 160 suites. Its regular suit

zysi [14]

Answer:

If the special offer earns a positive contribution margin, we should accept the special order.

Explanation:

Given that,

No. of suites in luxury hotel = 160

Regular suite rate = $210 per night per suite

Hotel’s cost per night = $135 per suite

Variable direct labor and materials cost = $36

Fixed cost = 99

Total cost per night per suite = $135

Contribution margin per night per suite:

= Room rate per night - Variable cost per night

= $94 - $36

= $58

Contribution margin from special offer:

= Contribution margin per night per suite × Number of nights × Number of suits

= $58 × 3 × 45

= $7,830

Management should accept the special offer.

When the company receives offer, the hotel is running at low season. occupancy rate is 55%

If the special offer earns a positive contribution margin, we should accept the special order.

Room rate is $94 for special order.

8 0

3 years ago

The cashier for Bell Buoy rang up sales totaling $5,104, but had $5,120 to deposit, which journal entry would be recorded? Multi

alexandr402 [8]

Answer:

A debit to Cash for $5,120, a credit to Cash Overage for $16, and a credit to Sales Revenue for $5,104.

Explanation:

In the current situation, the cash received is in excess of revenue recorded, thus, there will be cash overage.

As per books cash shall be $5,104 but since actual cash is $5,120 there is cash overage of $16

Therefore, for this, actual cash received shall be debited = $1,520

Cash overage shall be credited for $16

And accordingly sales of $5,104 shall be recorded as a credit.

Thus, correct option is: Entry A

3 0

3 years ago

Which of the following would be an effective approach for encouraging authentic feedback? A. Defend yourself if you disagree wit

sergey [27]

Answer:

C. Ask for feedback only when you are open to hearing it.

Explanation:

Feedback refers to providing the information gathered after evaluating any specific action or event. Providing authentic feed-backs helps in promoting and improving the better quality of the original topic. It is more personalized and user-oriented. There are various ways by which authentic feed-backs can be given. Through messaging, writing, discussing over calls, and conversations over video calls helps in providing authentic feedback. Asking for feedback should be initiated by the person only when the person is willing to listen and acquire those feed-backs is an effective approach for encouraging authentic feedback.

6 0

3 years ago