Given that G<span>rid
inc. is an American firm based in Cleveland that designs and
manufactures tractors and agricultural equipment. Grid inc. granted the
right to an Italian firm, Neos ltd. to use its brand name, and patented
technology to manufacture tractors in Italy. In return, Neos ltd. made
an upfront payment and agreed to give a percentage of the revenues that
it would gain to grid inc.
In this example, Grid inc. uses </span><span>franchising</span>
Banks earn interest when people pay back loans.
Answer:
c. $550,000
Explanation:
The total cost of opening the new branch and remaining open for one year will be inclusive of the fixed cost which is the cost of opening the new branch and the cost of providing services in a year. This is a variable expense as the total cost depends on the number of customers served during the year.
Hence the total cost of opening the new branch and remaining open for one year will be
= $500,000 + $50 * 1,000
= $550,000
Answer:
Inferior good
Explanation:
An inferior good is a good for which demand rises when income falls and demand falls when income rises.
on the other hand, Normal goods are goods that are goods whose demand increases when income increases and falls when income falls