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Trava [24]
3 years ago
6

Danita rescues dogs from her local animal shelter. when danita's income rises by 7 percent, her quantity demanded of dog biscuit

s increases by 12 percent. for danita, the income elasticity of demand for dog biscuits is:______. a. negative, and dog biscuits are an inferior good. b. negative, and dog biscuits are a normal good. c. positive, and dog biscuits are an inferior good. d. positive, and dog biscuits are a normal good.
Business
1 answer:
Anna007 [38]3 years ago
6 0

Answer:

The income elasticity of demand for dog biscuits is Option D: positive, and dog biscuits are a normal good.

Explanation:

'Income elasticity of demand' refers to the reaction of the demand in quantity for a good or service to that of change in income.  

'Normal goods' are the goods that are related positively with income whereas 'inferior goods' are those goods which are related negatively with income. As the income increases, there is a rise in demand for the dog biscuits. This means the dog biscuits are normal goods. Income elasticity for demand is positive for Danita as it is because of the rise in income. Hence, Option D is the most appropriate.

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The management at Mova Autos Inc. has realized that the company's sales have started to decline due to increasing competition. T
V125BC [204]

Answer:

Implementation of Idea (DO)

Explanation:

According to PDCA the first phase is the planning and the next one is doing that what we have planned. The third one is Check which means continuously monitoring the execution of the plan. And the last one is Act which means that the control must be emphasized on the execution to correct the discrepancies found.

The Company has completed the first phase and is recommended to complete the second one which is that the company must do whatever it has planned for the better future of company.

3 0
3 years ago
On January 2, year 1, Lava, Inc. purchased a patent for a new consumer product for $90,000. At the time of purchase, the patent
Archy [21]

Answer:

The amount Lava should charge against income during year 4 is $63,000.

Explanation:

Since amortization is assumed to be recorded at the end of each year, this can be calculated as follows:

Annual amortization expense = Cost of the patent  / Patent's estimated useful life = $90,000 / 10 = $9,000

Amortization expense recorded prior to year 4 = Annual amortization expense * 3 years =  $9,000 * 3 = $27,000

Unamortized cost of patent charge against income during year 4 = Cost of the patent - Amortization expense recorded prior to year 4 = $90,000 - $27,000 = $63,000

Therefore, the amount Lava should charge against income during year 4 is $63,000.

4 0
3 years ago
The aggregate quantity of goods and services demanded changes as the price level rises because
makvit [3.9K]

Answer:

a.

Explanation:

The aggregate quantity of goods and services demanded changes as the price level rises because real wealth falls causing interest rates to rise, and this in term causes the dollar to appreciate since the interest rates are for products and services within the country and not foreign goods or services. Which as the dollar appreciates it means that foreign goods and services will become cheaper or that their relative price will fall.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
3 years ago
Economists use real gdp per capita to measure economic growth: even though nominal gnp per capita is a far superior measure of e
denis23 [38]
1. Economists use real GDP as a measure of living standards as it eliminates the effects of inflation by using the price index of the base period over the current period, which is also called the GDP deflator.

2. Real GDP per capital. Reason explained above.

3. 5million dollars divided by 100, therefore it would be 5000.

4. False. With the advancement of technology, capital becomes more productive and efficient, meaning they produce more output using the same amount of input.
7 0
3 years ago
Top of the World, Inc. provides rock climbing sessions to customers. The following is a list of transactions that occurred in 20
xenn [34]

Answer:

a. Assets increase $4,000; SHE increases $4,000.

b. Assets increase $14,900; Liabilities increase $14,900.

c. Assets increase $2,040; Assets decrease $2,040.

d. Assets increase $1,030; Liabilities increase $1,030.

e.  Assets decrease $600; Liabilities decrease $600.

f. Assets decrease $9,100; Liabilities decrease $9,100.

Explanation:

Accounting equation is given as follows:

Assets = Liabilities + Shareholders' equity (SHE)

Therefore, we have the following:

a. 1/20/17: Issued 400 shares of common stock for $10 per share.

Assets increase $4,000; Shareholders' equity (SHE) increases $4,000.

When common stock is issued, cash is received by the company. Since cash is type of assets, current asset to be specific, the first effect on the accounting equation is therefore an increase in assets.

Common stock can be described as a security that represents ownership in a company. Since common stock is one of the component of SHE, any issue of common stock will therefore lead to an increase in SHE in the accounting equation.

b. 1/30/17: Signed a note payable for $14,900 in cash.

Assets increase $14,900; Liabilities increase $14,900.

Note payable is a type of liability which is a written promise by a borrower to repay a lender the amount of cash received/borrowed in return. Since the cash received is a type of asset, the first effect on the accounting equation is an increase. Since note signed is a type of liability, the second effect on the accounting is an increase in liabilities.

c. 2/11/17: Purchased a building for $2,040 in cash.

Assets increase $2,040; Assets decrease $2,040.

The building purchased is a type of asset, a fixed asset to be specific; while cash that is used to pay for it is also an asset, current asset to be specific. The dual effect of this transaction are therefore an increase in asset (fixed asset) by $2,040 and a decrease in assets (Current Asset, i.e cash) by $2,040.

d. 2/19/17: Purchased supplies on account from creditors for $1,030.

d. Assets increase $1,030; Liabilities increase $1,030.

Supplies is a type of asset, current asset to specific; while purchase on account creates a liablity to pay creditors, a current liability to be specific. Therefoe, the dual effect of this transaction on the accounting equation are Assets increase by $1,030 and Liabilities increase by $1,030.

e. 3/10/17: Paid creditors $600 in cash.

Assets decrease $600; Liabilities decrease $600.

A payment to creditors reduces cash which is an asset and also reduces creditors which are part of the liabilities. Therefoe, the dual effect of this transaction on the accounting equation are Assets decrease by $600 and Liabilities decrease by $600.

f. 4/30/17: Paid $9,100 in cash for employee wages for the current period.

Assets decrease $9,100; Liabilities decrease $9,100.

A payment of employess reduces cash which is an asset and also reduces wages payable which is a part of the liabilities. Therefoe, the dual effect of this transaction on the accounting equation are Assets decrease by $9,100 and Liabilities decrease by $9,100.

5 0
3 years ago
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