The pair of items that is most likely to have a negative cross-price elasticity of demand is

Which of the following statements is TRUE?

Sliva [168]

Answer:

B. Consumer surplus is the difference between the maximum price a consumer is willing to pay for a good or service and its market price.

Explanation:

As we know that the consumer surplus shows a difference between the maximum price willing to pay for a good or for rendering the service and the market price

In mathematically,

The consumer surplus = Willing to pay - Market price

Therefore, the correct statement is option B as the rest of the statements are wrong.

4 0

3 years ago

Explain what is meant by a good being "excludable." Explain what is meant by a good being "rival in consumption."

vovikov84 [41]

Answer:

If you can prevent a nonpaying consumer from having access to a good or service, that good is excludable. For example, only clients that buy a ticket can enter a movie theater and watch the movie.

A good or service that can be consumed by only one consumer (or a specific number of consumers) is rival in consumption because other people cannot consume them simultaneously. For example, once the movie theater sold out, no more people can get inside and watch the movie.

8 0

3 years ago

By showing a thorough understanding of your survey results, organizing your content in a clear manner, and generally showing you

egoroff_w [7]

Answer:

competence

Explanation:

Credibility is defined as the ability of an endeavour or individual to inspire confidence by those interested in it.

Credibility has 3 aspects - caring, character, and competence.

Competence is the ability of an individual to demonstrate adequate knowledge, skill, strenght, or judgement with regards to a particular area of interest.

In the given instance where one is showing a thorough understanding of your survey results, organizing your content in a clear manner, and generally showing you are prepared for this presentation. He is demonstrating competence

5 0

3 years ago

Mills Corporation acquired as a long-term investment $230 million of 8% bonds, dated July 1, on July 1, 2021. Company management

frosja888 [35]

Answer:

1) July 1, 2021, bonds purchased at a premium

Dr Investment in bonds 230,000,000

Dr Premium on bonds 30,000,000

Cr Cash 260,000,000

Sine the price paid for the bonds was higher than the face value, they were purchased at a premium.

2) December 31, 2021, coupon payment received from investment in bonds

Dr Cash 9,200,000

Cr Interest revenue 7,800,000

Cr Premium on bonds 1,400,000

amortization of bond premium = (260,000,000 x 3%) - 9,200,000 = -1,400,000

3) investment in bonds balance = $260,000,000 - $1,400,000 = $258,600,000

4) January 2, 2022, bonds sold

Dr Cash 270,000,000

Cr Investment in bonds 230,000,000

Cr Premium on bonds 28,600,000

Cr Gain on sale of investment 11,400,000

Gain on sale = selling price - carrying value of investment = $270,000,000 - $258,600,000

3 0

4 years ago

As a top manager, Joanna works with others within her team every day in making important corporate decisions. Her preferred deci

kati45 [8]

Answer:

Brainstorming

Explanation:

The brainstorming talks about the provision of number of alternative solutions that will be useful for the decision making process and helps in choosing the best option as the number of alternatives will be assessed on a set criteria. So the strategy here is talking about the consideration of number of alternatives for the decision making which is the job of Joanna. Hence Joanna is using the Brainstorming approach for better decision making.

4 0

3 years ago