Netflix and Hulu are substitutes if more individuals desire Netflix memberships as the cost of Hulu subscriptions decreases.
In microeconomics, two things are considered substitutes if customers may use them for the same purpose. Having more of one thing makes a buyer want less of the other good because they regard both goods as similar or equivalent.
Contrary to independent and complementary products, substitute goods may displace one another in usage as a result of shifting economic conditions. Coca-Cola and Pepsi are two examples of substitute commodities; they may be used interchangeably because they both meet the same need, which is the demand of customers for a soft drink. These replacements are referred to as "near substitutes."
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Answer:
Gross Profit
Explanation:
Gross Profit is defined as the amount earned by the company, after deducting the cost of producing and selling the products in case of a manufacturing business, or the cost of providing services to customers in case of service oriented business. Therefore, the difference between sales revenue and the cost of goods sold is called Gross Profit.
Sales Revenue - Cost of Goods Sold = Gross Profit
$100 - $ 40 = $60
Answer:
Explanation:
The journal entries are shown below:
a. Depreciation Expense A/c Dr $4,710
To Accumulated Depreciation - Office equipment A/c $4,710
(Being depreciation expense is recorded)
The depreciation expense is calculated for eight months (January - August)
b. Cash A/c Dr $21,240
Accumulated Depreciation - Office equipment A/c Dr $40,180
Loss on Disposal of Office equipment A/c Dr $25,130
To Office equipment A/c $86,550
(Being sale of machinery is recorded and the remaining balance is debited to the Loss on Disposal of Office equipment A/c)
The accumulated depreciation is computed below:
= $35,470 + $4,710
= $40,180
Answer:
a survey with open-ended questions
Explanation:
Using a survey with open-ended questions will give Quincy's survey respondents the opportunity to give their opinions about opening up space travel to private citizens.
Consumers will also be able to give feedback on their experience with the survey and other valuable input as regards improvement of the program.