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1 year ago

If a good is normal, then a decrease in price will cause a substitution effect that is?

Business

1 answer:

denis-greek [22]1 year ago

8 0

Explanation:

If a good is normal, then a decrease in price will cause a substitution effect that is The correct answer was: a. positive and an income effect that is positive.

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Presented below is information for Wildhorse Co. for the month of January 2017 Cost of goods sold Freight-out Insurance expense

blsea [12.9K]

Answer and Explanation:

The Preparation of income statement using the multi-step format is prepared below:-

Wildhorse Co.

Income statement

using the multi-step format

Particulars Amount

Sales $396,000

Less: Sales discount $8,400

Less: Sales and return

allowances $18,500 $26,900

Net sales $369,100

Less: Cost of goods sold $208,700

Gross profit $160,400

Operating expenses

Freight out expenses $9,200

Insurance expenses $12,700

Salaries and wages

expenses $60,700

Rent expenses $33,800

Total operating expenses $116,400

Income before income taxes $44,000

Income tax expenses $5,500

Net income $38,500

So, to reach at net income we simply deduct the income tax expenses from income before income taxes.

7 0

3 years ago

The three broad categories of message strategies include ______________.

sashaice [31]

The three broad categories of message strategies include cognitive, affective and conative. Within these message strategies they are broken down into subcategories with their advertising strategies. Cognitive strategies are number based and solid informative advertisements to consumers. Affective strategies focused on developing brand name. Conative strategies are looking for consumer behavior/reactions such as giveaways, promotions and the like.

4 0

4 years ago

People go to the bank more frequently to reduce currency holdings when inflation is high. The sacrifice of time and convenience

IrinaK [193]

Answer:

c. shoe leather cost.

Explanation:

During times of high inflation, interest rates usually go up. Money in the banks earns higher interest compared to when inflation is low. When the inflation rate is high, the prices of goods and services increase rapidly, resulting in a reduction in currency's purchasing power.

Individuals and firms opt to keep as little cash in hand as possible. Holding a lot of cash at such times is not prudent as banks offer high-interest rates. Keeping cash become costly due to currency depreciation. As firms and households keep most of the money in banks, they incur a lot of transport costs and time going to banks to withdraw cash for normal expenses. The time and transport costs incurred are referred to as shoe leather costs.

6 0

3 years ago

Which is not a defining attribute of a group?a. Mutual goal b. Unstructured relationships c. Positive interdependence d. Interpe

WARRIOR [948]

Answer:

d. Interpersonal interaction.

Explanation:

A group may have mutual goal, unstructured relationships but may not necessarily have Interpersonal interaction.

For example, a group of 100 persons makes up the passengers on a flight heading to New York City (their mutual goal) and they're made of individuals of random backgrounds (unstructured relationships). They expect the pilots to deliver them safely at their destination (positive interdependence), however, it is likely that throughout the trip there is no interpersonal interaction among the passengers.

4 0

3 years ago

$444,567 Revenue, $400,500 Expenses. Net Profit?

chubhunter [2.5K]

Answer:

44,067

Explanation:

4 0

3 years ago