Answer:
b. a consumer’s own experience
Explanation:
When buying a certain product/service, costumers rely on certain expectations that guide them through the process of choosing.
Naturally, the most trusted source of expectations is a consumer’s own experience. <em>Empiricism </em>has reasonable arguments for this marketing management application of experience. We always tend to trust our own past experiences, rather than an experience or review of somebody else, no matter how close that person is.
Answer:
Answering the economic question of What to produce
Explanation:
What to produce is the problem in economics with the companies, who are involved in the producing the goods for the customer, as this problem comprises of selection of the services and goods to be produced and the quantity of the each and every commodity to be produced.
This problem occurs because the economy has limited or restricted resources so could not produce all the goods. Therefore, if the society decides to produce the consumer goods from the resources available, then it is answering the economic question of what to produce.
Answer:
Total taxable income = $245,000
Total Tax = $84430
Explanation:
given data
11% of first = $40,000 profits
22% of next = $26,000
39% of next = $29,000
42% of over = $95,000
gross revenues = $380,000
total costs = $120,000
allowable tax deductions = $15,000
to find out
taxable income for the first year and how much should the company expect to pay in taxes
solution
we get here first Total taxable income that is
Total taxable income = Total revenue - (Total cost + Tax deductions ) .......................1
put here value we get
Total taxable income = $380,000 - ($120,000 + $15,000 )
Total taxable income = $380000 - $135000 = $245,000
so total tax will be
Total Tax = [0.11 × 40000 + 0.22 × 26000 + 0.39 × 29000 + 0.42 × (245000 95000) ]
Total Tax = 4400 + 5720 +11310 +63000
Total Tax = $84430
Answer: The correct answer is "B). substitution effect is stronger than the income effect."
Explanation: A higher wage rate will lead to increases in the amount of laborsupplied if the substitution effect is stronger than the income effect, this happens because this happens because if the substitution effect is stronger than the income effect increases the additional benefit for a worker.
Because if the income effect were greater than the substitution effect the worker would earn more in less time and decrease the amount of labor supplied.
