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2 years ago

Suppose pizzas and burgers are substitutes. if the price of pizza increases, what happens in each market?

1 answer:

8 0

If the price of pizza increases, Move upward and to the left along the demand curve for pizzas and the demand curve for burgers shifts to the right.

<h3>What is Demand curve?</h3>

A demand curve is a graph that shows the relationship between the cost of a given good and the amount that is desired at that cost. Demand curves can be applied to the price-quantity connection for either a specific consumer or for every consumer in a given market.

The relationship between the cost of an item or service and the quantity demanded over a specific time period is represented graphically by the demand curve. The price and quantity demanded are often represented with the price on the left vertical axis and the horizontal axis, respectively.

Pizzas and burgers exist as substitutes. This implies that they are utilized in place of each other. If the price of pizza increases, the quantity demanded will decrease. This will be characterized by an upward movement to the left on the same demand curve.

Consumers will prefer a more affordable substitute, and as a result, the demand for burgers will increase. This will be displayed by a rightward shift in the demand curve for burgers..

Hence, if the price of pizza increases, Move upward and to the left along the demand curve for pizzas and the demand curve for burgers shifts to the right.

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in the cost approach to valuation, land value can be estimated by comparing sales of vacant land that are similar to the subject

antoniya [11.8K]

The statement "in the cost approach to valuation, land value can be estimated by comparing sales of vacant land that are similar to the subject land" is true.

<h3>What is valuation?</h3>

Valuation is an estimation of the price of a good or a product. When a product is manufactured, its evaluation is estimated. It is estimated by seeing the manufacturing price, labor cost, and raw material cost.

Here, the valuation of vacant land and subject land is estimated, which is similar by seeing the comparison. So the statement will be correct about the comparison.

Thus, the statement is true.

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The question is incomplete. Your most probably complete question is given below:

State whether true or false.

6 0

2 years ago

Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet is fr

larisa86 [58]

Answer and Explanation:

According to the scenario, journal entry for the given data are as follows:

Cash A/c Dr. $1,000

Supplies A/c Dr. $3,000

Land A/c Dr. $8,000

Equipment A/c Dr. $5,000

To A/c Payable A/c $4,500

To Notes payable A/c $3,100

To M. Derr capital A/c $9,400 ($1000+$3000+$8000+$5000-$4500-$3100)

(Being Derr's investment is recorded)

3 0

3 years ago

You want to have $13,000 in 9 years for a dream vacation. If you can earn an interest rate of .4 percent per month, how much wil

alexdok [17]

Answer:

PV= $8,447

Explanation:

Giving the following information:

Future value= $13,000

Number of months= 9*12= 108

Interest rate= 0.4/100= 0.004 compounded montlhy

To calculate the initial investment required, we need to use the following formula:

PV= FV/(1+i)^n

PV= 13,000/(1.004^108)

PV= $8,447

7 0

3 years ago

The credit terms offered by Neutron Enterprise are 2/10, n/30. Neutron sold goods on account to James Company on Jun 14 for $300

Pie

Answer:

Cash A/C Debit $300

To James company $300

(Amount collected from James Company for credit sale)

Explanation:

Cash A/C Debit $300

To James company $300

(Amount collected from James Company for credit sale)

Note: The terms here provided that, 2/10, n/30.

Which means that 2% discount if payment made within 10 days, and total 30 days credit allowed.

Here the sales were made on 14 June, and payment received on 27 June that is it took more than 10 days as 10 days complete on 24 June.

Therefore, no discount will be offered.

5 0

3 years ago

A stock had returns of 17.88 percent, −5.16 percent, and 20.39 percent for the past three years. What is the variance of the ret

Arturiano [62]

Answer:

Variance of the return = 0.01983

Explanation:

$S^{2}$ = Σ $(X-X)^{2}$ / N - 1

Mean return = 17.88% + -5.16% + 20.39% = 11.0367%

Variance = [(17.88% - 11.0367%)2 + (-5.16% - 11.0367%)2 + (20.39% - 11.0367%)2] /(3 - 1)

Variance = [0.004683 + 0.026233 + 0.008748]/2

Variance = 0.01983

6 0

3 years ago