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ella [17]
3 years ago
6

Carlos consumes only cheese and crackers.

Business
1 answer:
GrogVix [38]3 years ago
8 0

A.      The cheese and crackers that are being consumed by Carlos is not considered to be inferior goods because when there is a time that his income may rise, he will likely consume other products aside from it.

B.      If the price of the cheese falls, what will likely happen is that there will be a presence of substitution effect of where the crackers will be fewer consumed and the cheese will be consumed more. When there is a presence of income effect on the other hand, the cheese will be consumed more as this will be considered as a good that is normal and the crackers to be consumed fewer as this will be classified as an inferior good. The likely outcome of it in both scenarios, Carlos will still consume fewer crackers and the cheese to be more consumed.

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Grouper Corporation’s April 30 inventory was destroyed by fire. January 1 inventory was $160,600, and purchases for January thro
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Answer:

$165,670

Explanation:

Cost of goods sold = Sales revenue (1 - Gross profit)

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Estimated ending inventory destroyed in fire:

= Beginning inventory + Purchase - cost of goods sold

= $160,600 + $474,000 - $468,930

= $165,670

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4 years ago
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