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lawyer [7]
3 years ago
13

For each example, determine how the market for the good in bolded text will respond to the described change. Due to increases in

hay prices, an input for raising cattle, the price of a gallon of 2% milk increases from $2.98 to $3.25. A company offers a coupon for $6 off the price of laser tag. A sharp increase in the price of wood causes increases in prices for dressers and desks. At a week‑long special at the grocery store, pork shoulder is on sale at $1.99/lb, down from $3.99/lb. A website offers a buy‑one‑get‑one‑free special for digital music albums. Answer Bank
Business
1 answer:
crimeas [40]3 years ago
3 0

Answer:

Explanation:

According to the law of demand,a rise in price leads to a decrease in quantity demanded and a fall in price leads to an increase in quantity demanded.

1.The price of a gallon of 2% milk has risen, therefore, quantity demanded decreases.

2.The price of laser tag has fallen,therefore,quantity demanded increases.

3.The price of dressers and desks has risen,therefore,quantity demanded decreases.

4.The price of pork shoulder has fallen from $3.99 per pound to $1.99 per pound,therefore,quantity demanded increases.

5.Another MP3 album comes free,with purchase of an MP3 album .This means the supplier have effectively halved the price.therefore,quantity demanded increases.

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During fiscal year-end 2016, Kohl’s Corporation reports the following (in $ millions): net income of $556, retained earnings at
nikitadnepr [17]

Answer:

c. $363 million

Explanation:

We can compute this easily by making a retained earning extract from the balance sheet at the closing date,

Opening Retained earnings                    $12,329

Add retained earnings for the year         $556

Less: Dividends paid                                 $363

Closing Retained earnings                       $12,522

Reverse calculating the information gives us c. $363 million

Hope that helps.

7 0
3 years ago
What is income elasticity onlyy
Lina20 [59]

Income elasticity of demand measures the receptiveness of the quantity demanded for a good or service to a change in income.

It's calculated as the ratio of the percentage change in quantity demanded to the percentage change in income.

Explanation:

Hope this helps!!

8 0
3 years ago
Tiago makes three models of camera lens. Its product mix and contribution margin per unit follow: Percentage of Unit sales Contr
Anna11 [10]

Answer:

A. $36.55

B. 5116 units

C. 7114 units

Explanation:

Requirement 1: Weighted average contribution margin per unit

Lens A = $38 x 25% = $9.5

Lens B = $30 x 40% = $12

Lens C = $43 x 35% = $15.05

Total Contribution margin per unit = $36.55

Requirement 2: Breakeven if fixed cost is $187,000

Break even point (units) = Fixed cost / Contribution per unit

Break even point (units) = 187,000/36.55

Break even point (units) = 5116 units

Lens A = 5116 x 25% =  1279 units

Lens B = 5116 x 40% = 2046 units

Lens C = 5116 x 35% = 1791 units

Requirement 3: How many units to be sold to generate $73,000 profit

Required units = Fixed cost - required profit / contribution per unit

Required units = ($187,000-$73,000)/$36.55

Required units = 7114 units

Lens A = 7114 x 25% =  1779 units

Lens B = 7114 x 40% = 2846 units

Lens C = 7114 x 35% = 2489 units

6 0
3 years ago
A case in which people like to drink orange juice at breakfast but not before going to bed, and do not like to drink milk for br
yulyashka [42]

Answer:

Letter C is correct. <u>Person by situation interaction.</u>

<u>Explanation:</u>

This is a cognitive process that occurs through the individual perspective of each human being. This implies that our behavior is not totally conditioned by an automatic response predetermined by any variables, but what determines our way of being and acting is the set of learnings, memories, thoughts and perceptions about certain situations as well. as the process of social interaction, which determines how the experiences and actions lived by an individual in society will actively influence their tastes, actions and perceptions about society in general.

8 0
3 years ago
Seven months ago, you purchased 580 shares of Mitchum Trading for $70.53 per share. The stock pays a quarterly dividend of $.39
Marina CMI [18]

Based on the number of shares you bought and the dividend per share, the total dividend income you received was $452.40.

<h3>How much dividend income was received?</h3>

The stock was held for 7 months and there are 2 quarters in a space of seven months so two dividends were received.

The amount received is:

= Number of share x Number of quarters x dividend per quarter

= 580 x 2 x 0.39

= $452.40

Find out more on dividends at brainly.com/question/25845157.

#SPJ1

3 0
2 years ago
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