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myrzilka [38]
3 years ago
9

Sarah recently got a 10 percent raise. she now purchases 30 percent more in groceries on a weekly basis. sarah's income elastici

ty for groceries is
Business
1 answer:
Tomtit [17]3 years ago
3 0
Sarah's income elasticity for groceries = percentage increase in grocery / percentage raise in income.
Elasticity for groceries = 30 /10 = 3
Therefore, Sarah's income elasticity for groceries = 3.
Income elasticity is a value, which measures the responsiveness of the quantity demanded for a good or service to a change in the income of the consumers demanding for the good.
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Answer:

Ownership utility

Explanation:

Based on the information provided within the question it can be said that in this scenario Spalkyn most likely provides Ownership utility. This term refers to when a company allows for the orderly transfer of their goods or services to the buyer. Which is what Spalkyn does by giving their customers various different options when purchasing their goods, so that they can choose whichever option is easiest for them.

6 0
3 years ago
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Explanation:

Exchange

4 0
3 years ago
Do the following activities contribute to US GDP in 2020? Explain why or why not? In which year do these activities contribute t
ale4655 [162]

Answer:

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Explanation:

In option (a) no it does not contribute to the US GDP in any year. The transaction appears in expenditure as an increase in consumption and a decrease in net exports that offset. According to option (b) yes it contributes to US GDP in 2013. The transaction appears as an increase in investment (increase in inventory). In 2014, the transaction appears as an increase in net exports offset by a decrease in investment. According to option (c), the transaction appears in expenditure as an increase in consumption in 2014 offset by a decrease in net exports. Option (d) represents the transaction appears as an increase in investment (increase in inventory). In 2014, the transaction appears as an increase in consumption offset by a decrease in investment. According to option (e) yes, it contributes $1000 to US GDP in 2014. The $6000 purchase price exceeds the price paid by the used car dealer. The difference represents value added by the dealership - this is a service that should be counted as part of GDP.

8 0
4 years ago
Let’s assume a required reserve ratio of 10 percent.
Furkat [3]

Answer:

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Explanation:

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5 0
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Likurg_2 [28]

Explanation:

The journal entry to close the books is

Cost of Goods sold A/c Dr $1,200

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(Being the under-applied overhead is recorded)

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5 0
4 years ago
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