The reduction in Max's demand for hot dogs as his income rises shows that Max's hot dogs are an inferior good.
<h3>What is an inferior good?</h3>
An inferior good is a concept used in economics to describe a product whose demand falls as people's earnings increase. As salaries and the economy improve, people begin to replace these things with more expensive alternatives.
- The demand for an inferior good usually falls as consumer income grows, as opposed to normal goods, which experience the reverse.
Therefore, we can conclude that the reduction in Max's demand for hot dogs as his income rises shows that Max's hot dogs are an inferior good.
Learn more about inferior goods here:
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Answer:
The amount of bad debt exp is 7000
Explanation:
Allowance for bad debt exp has a credit balance of 7500 before adjusting entry
Now the management wants to estimate the uncollectible accounts at 14500
So we have to increase the balance of the allowance account from 7500 to 14500
Like 14500-7500=7000
So we need to record the entry by 7000 to increase the amount of the allowance to 14500
The entry
Bad debt exp Dr. 7000
Allowance for doubtful accounts Cr 7000
Now the bad debt exp will be reported in the income statement by 7000
Answer:
-valid driver's license
- 18 years old or more (for younger than 18 you can look into limited involvement as a junior firefighter.)
- At least a high school diploma or GED.
- pass the physical ability test.
- Pass the written exam
- pass the interview
-You’ll still need to attend a department’s academy once hired
(may be differnt depending on your state, country, etc)
<3
Answer:
Company should continue with old machine (Alternative 1)
Explanation:
Preparation of a differential analysis dated April 11 on whether to continue with the old machine (Alternative 1) or replace the old machine (Alternative 2)
DIFFERENTIAL ANALYSIS
Continue with old machine(Alternative 1) ; Replace with old machine(Alternative 2); Differential effect on income
REVENUES
Proceeds from sale of machine
$0 $50500 $50500
COSTS
Purchase price $0 -$75000 -$75000
Direct labor -$56000 -$37000 19000
(11200*5 = -56000)
(7400*5 = -37000)
Income (loss) -$56000 -$61500 -$5500
Based on the above differential analysis the Company should continue with OLD MACHINE (Alternative 1)
Answer:
False.
Explanation:
Self-concept describes the kind of person or personality an individual thinks he or she has.
People that have a realistic self-concept about themselves basically see themselves as they are, not what they or the society at large wants them to be.
The statement that a person with a poor self-concept is more likely to be hired for a position, because they are easier to “mould” is false and an absolutely incorrect notion.
First of all, no organization is interested in hiring an individual with a poor self-concept because they can't add any value to the organization in the long-run.
