1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
taurus [48]
3 years ago
10

Rodi owns Hallman's auto repair service. He has observed over the years that customers keep their high-mileage cars longer when

the economy is doing poorly, creating demand for his maintenance and repair service. Rodi has observed the impact of ________ on demand for his service.
A. the target return effect
B. cross-price elasticity
C. the price inelasticity ratio
D. break-even points
E. the income effect
Business
2 answers:
leva [86]3 years ago
7 0

Answer:

E. the income effect

Explanation:

Based on the scenario being described within the question it can be said that Rodi has observed the impact of the income effect on demand for his service. This effect describes the change in demand for a specific product or service that has been caused by the change in the consumer's purchasing power due to changes in that same customer's current income.

zimovet [89]3 years ago
5 0

Answer:

the income effect.

Explanation:

The income effect describes a change in demand of goods which is caused by a change in the income. Income effect changes the quantity of good and services purchased by the customers.

There is a reduction in the quantity of goods demanded by customers when their income reduces and an increase in the quantity demanded when they experience an increase in their income.

Rodi the owner of Hallman's auto repair service has observed that customers keep their high-mileage cars longer when the economy is not doing well, thereby creating demand for his maintenance and repair, this is as a result of a decrease in their amount of income.

You might be interested in
A decline in interest rates is expected to __________.
bulgar [2K]

A decline in interest rates is expected to put the economy in recession. This is because with less interest comes less money earned and less spending as a result.

8 0
3 years ago
Read 2 more answers
Accounts receivable: Select one: A. are reported on the income statement. B. arise from the purchase of goods or services on cre
Elena-2011 [213]

Answer:

Option (D) is correct.

Explanation:

Accounts receivables refers to a term that is used by the businesses when a company sells the goods on account or credit to its customers and customers promise to pay this amount at a later date. The accounts receivable is shown under the current assets. When a company receives the amount of receivables then it will increases its cash and decreases the accounts receivables.

5 0
3 years ago
How much interest is earned in just the third year on a $1,000 deposit that earns 7% interest compounded annually?
Sav [38]

Answer:

Interest earn= $80.14

Explanation:

Giving the following information:

PV= $1,000

i= 7%

n= 3

<u>First, we will calculate the future value at the second year:</u>

FV= PV*(1+i)^n

FV= 1,000*(1.07^2)

FV= 1,144.9

<u>Now, for the third year:</u>

FV= 1,144.9*1.07= 1,225.04

Interest earn= 1,225.04 - 1,144.9= $80.14

4 0
3 years ago
How can businesses deal with lack of vision and mission​
lesantik [10]
Because it does that so you will need ramen noodles and chalk to draw grass to chickens can grow in the sky.
8 0
3 years ago
revorrow Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets a
nlexa [21]

Answer:

$9,906 F

Explanation:

Calculation as follows:

Budget Income Statement

<u>Particular</u>                                                       $

Revenue (28.4 x 7,000)                          198,800

Direct Labor (2.8 x 7,000)                       (19,600)

Direct Material (10.7 x 7,000)                  (74,900)

Manufacturing Overheads

(38,000 + [1.5 x 7,000] )                           (48,500)

Selling and administrative Expenses

(23,600 + [0.3 x 7,000] )                           (25,700)

Net Operating Income                               30,100

Actual Income Statement

<u>Particular</u>                                                       $

Revenue                                                   205,320

Direct Labor                                             (18,974)

Direct Material                                         (72,252)

Manufacturing Overheads                      (48,320)

Selling and administrative Expenses      (25,768)

Net Operating Income                             40,006

Activity variance for net operating income = Net operating income actual - Net operating income budgeted

Activity variance for net operating income = 40,006 - 30,100

 Activity variance for net operating income = $9,906 F

8 0
3 years ago
Other questions:
  • State or federal codes that specifically apply to businesses are called: A. franchise law B. patent law C. business law D. tax l
    14·2 answers
  • Discuss the principle of Acquisitions Management thoroughly. What is the most important? What do you think will become more impo
    10·1 answer
  • Exercise 9-4 Direct Materials Variances [LO9-4] Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the
    13·1 answer
  • As a graduating senior, Chun Kumora of Manhattan, Kansas, is eager to enter the job market at an anticipated annual salary of $5
    15·1 answer
  • The Government in Sunshine Act requires agency business meetings to be open to the public even if the agency is headed by a non-
    15·2 answers
  • _____ is a price tactic that tries to get consumers into a store through false or misleading price advertising and then uses hig
    5·1 answer
  • When money is used to compare the value of different products it is used:
    13·2 answers
  • Begin with a single sum of money at period 0. First, calculate a future value of that sum at 12.01%. Then discount that future v
    11·1 answer
  • Ginocera Inc. is a designer, manufacturer, and distributor of low­cost, high­quality stain­ less steel kitchen knives. A new kit
    5·1 answer
  • Can someone help me with this?
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!