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3 years ago

Rajiv is a person whose wants are satisfied by using goods and services. Rajiv is a _____.

2 answers:

6 0

Rajiv is a consumer. Consumers are a necessary part of the economy because they play a large role in determining the demands of the market in terms of supplying goods and services. Rajiv is an example of a consumer that is buying goods and services provided in the market.

Kitty [74]3 years ago

5 0

Answer:

consumer

Explanation:

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uppose the annual demand function for the Honda Accord is Qd = 430 – 10 PA + 10 PC – 10 PGwhere PA and PC are the prices of the

emmainna [20.7K]

Answer:

Qd = 400 units

elasticity of demand of the Accord with respect to the price of Camry = 0.5

elasticity with respect to the price of gasoline = -0.075

Explanation:

Solution:

The annual demand function for the Honda Accord is:

Qd = 430 – 10 PA + 10 PC – 10 PG

Where,

PA = Price of Honda Accord

PC = Price of Honda Camry

PG = Price of Gasoline per gallon.

Selling Price of both cars = $20,000

Fuel Cost = $3 per gallon.

a) Elasticity of Demand of the Accord with respect to the price of Camry.

First, we need to calculate the number of units demanded.

Qd = 430 – 10 PA + 10 PC – 10 PG

Qd = 430 – 10 (20) + 10 (20) – 10 (3.00)

Qd = 430 - 200 + 200 - 30

Qd = 430 - 30

Qd = 400 units

Cross-price elasticity of the Accord with respect to the price of the Camry will be:

Cross Price = (dQd/dPC) x (PC)/(Qd)

dQd/dPC = 10

PC = 20

Qd = 400

So,

Cross Price = 10* 20/400

Cross Price = 0.5

b) Elasticity with respect to the price of gasoline?

Elasticity = (dQd/dPG)*(PG/Qd)

dQd/dPG = -10

PG = 20

Qd = 400

Elasticity = (-10)*(3/400)

Elasticity = -0.075

5 0

3 years ago

Which of the following correctly defines a product?

Alisiya [41]

Answer: Option C

Explanation: In simple words, a product refers to an entity that that could be tangible or intangible and is produced by the manufacturer for satisfying the wants of its customers.

Hence anything that is offered to the market and has the ability to satisfy the needs of specified individuals will be classified as a product.

Thus, the correct option is C.

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3 years ago

Time management and world view college success

Stolb23 [73]

Explanation:

As most students discover, college is not the same as high school. For many students, college is the first time they are “on their own” in an environment filled with opportunity. And while this can be exciting, you may find that social opportunities conflict with academic expectations. For example, a free day before an exam, if not wisely spent, can spell trouble for doing well on the exam. It is easy to fall behind when there are so many choices and freedoms.

One of the main goals of a college education is learning how to learn. In this chapter we zoom in on learning how to skillfully manage your time. To be successful in college, it’s imperative to be able to effectively manage your time.

In the following Alleyoop Advice video, Alleyoop (Angel Aquino) discusses what many students discover about college: there is a lot of free time—and just as many challenges to balance free time with study time

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3 years ago

Read 2 more answers

Jameson Company uses average cost and a perpetual system. On January 1, the company had 600 units of inventory at an average cos

Leni [432]

Answer:

the average cost per unit that should be used to determine the cost of the units sold on January 28 is $ 59.00

Explanation:

The Weighted Average Cost Method calculates the new cost of Inventory with each purchase of Inventory.

The Perpetual Inventory System records the cost of inventory sold with each sale made.

<u>Calculation of the new cost of Inventory with each purchase of Inventory :</u>

January 10:

Cost per Unit = Total Cost / Total Number of Units

Cost per Unit = (( 600 units × $55 per unit ) + ( 1000 units × $59 per unit )) / 1600 units

= $ 57.50

January 20:

Cost per Unit = Total Cost / Total Number of Units

Cost per Unit = (( 1600 units × $57.50 per unit ) + ( 800 units × $62 per unit )) / 2400 units

= $ 59.00

There were no further purchases from this point

Thus cost per units remains at $ 59.00

Therefore the average cost per unit that should be used to determine the cost of the units sold on January 28 is $ 59.00

3 0

3 years ago

Read 2 more answers

Which type of credit is used for utilities? installment credit secured credit card service credit unsecured credit card

balandron [24]

The type of credit that is used for utilities is : Service credit

With service credit you can make it easier to pay utility bills such as gas, electricity, water, phone services, etc under one account

hope this helps

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3 years ago