Answer:
This statement is true.
Explanation:
The concept of income elasticity measures a change in the demand because of change in the income of the consumer.
It is calculated as the ratio of change in demand to change in income.
A person was earning $10,000. Her income increased to $20,000.
Her consumption of macaroni decreased from 10 pounds to 5 pounds.
While her consumption of soy-burgers increased from 2 pounds to 4 pounds.
Income elasticity for macaroni
= 
= 
=
=
= -1
Income elasticity for soy-burgers
=
= 
=
= 1
So, we see that macaroni has a negative income elasticity, its demand decreases with increase in income. Macaroni is an inferior good.
Soy-burgers sow a positive income elasticity. Their demand increases with increase in income. They are normal goods.
Simple, because simple interest is a quick and easy tansaction
Answer:
1. Department A (manufactures parts in a highly automated process): Machine hours
2. Department B (assembles the parts by hand): Direct labor hours
3. Department C (places completed units in a heat chamber to sterilize the before they are shipped out): Batches
Explanation:
Machine hours is used to measure factory overhead as against the goods produced. This method is usually applied in production environment using machine, and where the most activities are done by machines. On the other hand direct labor is used when the production of goods and services is done by human hands, and not machines. While Machine hours is the appropriate overhead allocation rate for Department A, Direct Labor hours will be appropriate for Department B. Hence Batches will be appropriate for Department C.
Starting from a steady state with greater capital than the Golden Rule, a decrease in the saving rate results in a decline in investment.
<h3>What is the definition of the golden rule?</h3>
The Golden Rule instructs people to make decisions for others based on their own personal preferences. Putting yourself in another person's shoes or "doing unto others as you would have them do unto you" are two common definitions of the Golden Rule (Baumrin 2004).
The golden rule would advise us to release someone who has been convicted of a crime and given a prison sentence, for instance, because we would not want to go to prison ourselves. This holds true even if we use the platinum rule because it's likely that the prisoner would choose to stay out of jail or prison.
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Based on the information given the desired profit per unit is $0.14 per unit.
First step is to find the unit using this formula
Units=Target sales revenue / Target selling price per unit
Units=$850500 / $4.05
Units =210,000
Second step is to calculate the desired profit per unit using this formula
Desired profit per unit=Target selling price per unit - (Target costs / Units)
Desired profit per unit=$4.05-($821250 / 210,000)
Desired profit per unit=$4.05- $3.91
Desired profit per unit=$0.14
Inconclusion the desired profit per unit is $0.14 per unit.
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