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lawyer [7]
4 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]4 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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Tamadun dalam bahasa Yunani membawa maksud pencapaian yang tinggi dalam kehidupan,sains,industri dan sistem kerajaan.Bincangkan
Mnenie [13.5K]

<u>Translation of question : </u><u>In </u>Greek civilization meant high achievement in life, science, industry and the government system. Discuss this statement.

<u>Explanation:</u>

Civilization denotes the human society which lives in a particular culture, living conditions and the life. The society is not formed in a day it takes centuries to form a culture and way of living.

The achievements and developments one can see in elements such as life, science, industry and government system in a country is the civilization.

Each part of a community has different culture within a country. Civilization is a collective term for the way of living in a country. Some of oldest civilizations are Greek civilization, Mesopotamian civilization etc

7 0
4 years ago
quiclet if a country has an absolute advantage in the production of something it should specialize in the production of it as a
makkiz [27]

Even though the United States has an absolute advantage in producing both refrigerators and shoes, it makes economic sense for it to specialize in the good for which it has a comparative advantage. The United States will export refrigerators and in return import shoes.

<h3>Do all countries have an absolute advantage in production?</h3>

In the production of at least one good or service, almost every nation enjoys an absolute competitive advantage. The key to absolute advantage is low-cost production. For instance, because they can benefit from low labor costs, China and other Asian nations are known to have a distinct advantage in the manufacturing sector.

<h3>What determines a nation's choice to specialize in a particular good?</h3>

When resources are scarce, a country's decision to focus on producing a specific good is also heavily influenced by its comparative advantage. Comparative advantage is based on the idea of opportunity cost, whereas absolute advantage refers to the superior production capabilities of one nation over another.

Does Japan have an absolute advantage in the auto industry?

Japan is said to have a clear advantage in the auto industry if it can produce cars just as well as the United States, but more quickly and with higher quality. The kinds of goods a nation decides to produce are greatly influenced by its absolute advantage or disadvantage in a given industry.

Learn more about U.S. auto industry:

brainly.com/question/19166394

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7 0
2 years ago
Sales $ 1,000,000 Net income $ 45,000 Current Assets $ 50,000 Fixed Assets $ 200,000 Total Assets $ 250,000 Current Liabilities
marishachu [46]

Answer:

Profit Margin = income / sales

45,000 / 1,000,000 = 4.5%

Return on Assets = income / assets

45,000 / 250,000 = 18%

Assets turnover = sales / assets

1,000,000 / 250,000 = 4

Earning per share: income / shares outstanding

45,000 / 40,000 = 1.125

Price- Earning ratio = market price / EPS

28 / 1.125 = 24,89

Return on Equity = income / equity*

45,000 / 120,000 = 37.5%

Debt to Equity ratio liab / equity

130,000 / 120,000 = 1,08

Explanation:

*solving for equity

Assets = laib + equity

250,000  =  130,000 + equity

equity = 120,000

5 0
4 years ago
Travelwell manufactures and sells luggage and briefcases. Their marketing research indicates that durability is the attribute th
yan [13]

Answer:

a) true

Explanation:

When we are talking about building brand equity, we are talking about increasing our customers' perception and value of our brand or company's name. Building brand equity emphasizes the brand itself over any specific product or service that our company offers. E.g. Rolls Royce is the most luxurious car manufacturer in the world, and they built brand equity upon luxury in all its vehicles, not one specific car.

In this case, Travelwell is emphasizing a characteristic that should apply to all its product line, not just one specific type of luggage.

6 0
3 years ago
Why is it necessary to maintain a fixed asset register and what does it enable you to do? ​
Jobisdone [24]

Answer:

There is financial consequence to not maintaining an accurate asset register. Every business should know at any given time where their assets are and in what condition they are in. The tracking of assets can prevent theft and loss and the maintenance of assets can extend the life of the asset. There are major tax benefits to any business tracking their assets correctly. In most cases it is a statutory requirement to have an asset register.

Explanation:

8 0
3 years ago
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