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Kruka [31]
3 years ago
5

Which of the following goods would you expect to have the largest income elasticity of demand?

Business
1 answer:
mr Goodwill [35]3 years ago
6 0

Answer:

stereo equipment.

hope this helps

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"in year 1, costello company performed $14,000 of services for a customer who paid immediately. it also incurred $6,000 of wage
valina [46]

Answer: revenue of $14,000 and expense of $6,000 in Year 1.

Explanation:

In accrual accounting, it should be noted that for this accounting method, the revenue or expenses that are made by the individual or company will be recorded as at the time that the transaction took place and not when the payment for the transaction was gotten.

Since Costello company performed $14,000 of services and also incurred $6,000 of wage expenses, then Costello will report revenue of $14,000 and expense of $6,000 in Year 1.

7 0
3 years ago
If the demand for product x is inelastic, a 15 percent decrease in the price of x will:____.
Marrrta [24]

If the demand for product x is inelastic, a 15 percent decrease in the price of x will: Reduce by more than 15 percent the amount of X that is being requested. Reduce by less than 15 percent the amount of X that is being requested.

This is further explained below.

<h3>What is the inelastic market?</h3>

Generally, An economic concept known as inelastic refers to an item or service's static quantity when its price varies. When a product's price increases or decreases, customers' purchasing patterns are said to be inelastic, which indicates that neither change affects the other.

In conclusion,If there is no elasticity in the demand for product x, then a price reduction of 15% for product x will have the following effects: The quantity of X that is being requested should be decreased by more than 15 percent. The quantity of X that is being sought should be decreased by more than 10 but less than 15 percent.

Read more about the inelastic market

brainly.com/question/24013367

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5 0
1 year ago
Which document is necessary for nearly everyone who applies for a job?
mestny [16]
I think it is an application OR a resume. That is usually what is necessary for applying for a job.
6 0
3 years ago
If the exchange rate between the dollar and the Swiss franc changes from 1.8 to 1.5 francs per dollar, the franc depreciates and
bazaltina [42]

Answer:

False

Explanation:

Exchange rate helps to determine the value of money in the foreign currency. If the exchange rate changes from 1.8 to 1.5 francs per dollar it means that the franc per dollar appreciates, and the dollar depreciates. Now, more dollars can be bought by trading Swiss franc compared to the previous rate. A decrease in exchange rate decreases the value of the dollar compared to the Swiss franc.

6 0
3 years ago
g Novelli Corporation makes a product whose variable overhead standards are based on direct labor-hours. The quantity standard i
hram777 [196]

Answer:

Variable overhead efficiency variance= $110 favorable

Explanation:

Giving the following information:

The quantity standard is 1.4 hours per unit.

The variable overhead rate standard is $11.00 per hour.

The company produced 1,450 units using 2,020 direct labor-hours.

To calculate the variable overhead efficiency variance, we need to use the following formula:

Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate

standard quantity= 1.4*1,450= 2,030

Variable overhead efficiency variance= (2,030 - 2,020)*11

Variable overhead efficiency variance= $110 favorable

5 0
2 years ago
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