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2 years ago

Which of the following statements is TRUE? (economics)

Business

1 answer:

Angelina_Jolie [31]2 years ago

6 0

Answer:

Explanation:

Banks are other lending entity's has access to a customer borrowing history. Through credit rating agencies, a bank can know whether a customer has a bad history in making loan repayments.

When a customer takes up a loan, banks share that information with a credit rating agency. The agency updated its records with the customer's national identity, such as the social security number. The banks keep on updating agencies on how each customer is meeting their obligation. Credit card payments are considered as loans.

Credit agencies rates each customer creditworthiness by assessing how they been repaying their debts. A higher credit score means the customer repays his loans promptly without missing installments. The information of each customer is available to all banks and lenders upon request.

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Label demand as elastic, unit elastic, or inelastic for each scenario. Use the midpoint method when applicable to calculate the

oksian1 [2.3K]

Answer:

Contain Yourself!, a plastic container company, raises the price of its signature Lunchbox container from $3.00 to $4.00 . As a result, the quantity sold drops from 20,000 to 15,000 = unit elastic
Economists working for the United States have determined that the elasticity of demand for gasoline is 0.5 = inelastic
Capital Metro decides to increase bus fare rates from $2.00 to $2.21 . Consequently, the number of passengers who decide to take the bus in Austin drops from an average of 70,000 riders a day to an average of 61,000 riders a day = elastic

Explanation:

The demand for unit elasticity is an intermediate situation between an elastic and an inelastic demand curve, in which the price elasticity is equal to one, which means that given variations in the price, the total income does not change (price per quantity). Eslasticity=1
Demand is inelastic when the percentage variation of the quantity demanded is less than the percentage variation of the price. Elasticity less than 1
Elastic demand is when a small variation in the price causes a more than proportional change in the quantity demanded. Elasticity more than 1

7 0

3 years ago

In the video game console industry, Magnitude was the first firm to introduce a console in the market. However, consumers were u

Vanyuwa [196]

Answer:

B. early followers

Explanation:

Based on the information provided within the question it can be said that in this scenario Mantel and Adventura would be considered early followers. Early Followers or better known as First Followers, refers to the company or companies that enter the market shortly after the first company has already entered into that market. They do this to see the barriers that the first company has already overcome and are able to do it easier.

7 0

3 years ago

The Devon Motor Company produces automobiles. On April 1st the company had no beginning inventories and it purchased 8,000 batte

grin007 [14]

Answer and Explanation:

The computation is shown below:-

a) raw-materials is

= (8,000 - 7,600) × $80

= $32,000

b) work in process 7,500 batteries x $80 x 10%

= $60,000

c) Finished goods = 7,500 batteries × $80 × 90% × 30%

= $162,000

d) cost of goods sold 7,500 batteries x $80 × 90% × 70%

= $378,000

e) selling expense is

= 100 × $80

= $8,000

Total 8,000 batteries purchased × $10 per battery is

$80,000

2. Specification is shown below:

a) rawmaterials stock $32,000 Balance Sheet

b) work inprocess $60,000 BalanceSheet

c) Finishedgoods stock $162,000 BalanceSheet

d) cost of goodssold $378,000 IncomeStatement

e) sellingexpense $8,000 IncomeStatement

7 0

2 years ago

Fabiola, who lives in mexico city, fills her car with gas, paying 357 pesos for 40.0 l. what is her fuel cost in dollars per gal

77julia77 [94]

Answer:

Fabiola pays 27.0963 dollars for 8.79877 gallons of fuel.

Step-by-step explanation:

We are given that,

Fabiola pays 357 pesos for 40 liters of fuel.

It is required to convert the amount in dollars.

Since, we know that,

1 peso = 0.0759 dollars

So, 357 pesos = 0.0759 × 357 = 27.0963 dollars

Moreover,

1 liter = 0.219969 gallons

So, 40 liters = 0.219969 × 40 = 8.79877 gallons

Thus, we get that,

Fabiola pays 27.0963 dollars for 8.79877 gallons of fuel.

4 0

3 years ago

Read 2 more answers

If firms and households form their expectations about inflation by looking at past inflation, this form of expectations formatio

eduard

Answer:

B) adaptive

Explanation:

Based on the scenario being described it can be said that this form of expectations formation is known as adaptive expectations. These are expectations formed from a process in which individuals predict what will most likely occur in the future based on the data of what has already happened in the past.

6 0

3 years ago