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klasskru [66]
3 years ago
7

The market for diamond rings, meaning all types and brands of diamond rings, has a demand that is elastic with respect to price

since diamond rings are not a necessity. Tiffany is a particular brand of diamond rings. It is quite likely true that the demand for diamond rings from Tiffany ____ the demand for diamond rings. A. is more elastic than B. is just as elastic C. might be more or less elastic than D. is less elastic than
Business
1 answer:
Xelga [282]3 years ago
4 0

Answer:

A. is more elastic than general diamond rings

Explanation:

Typically, luxury items are less elastic than necessities (when prices go up, people still buy necessities but are less likely to spend more on luxury goods). However, we are not comparing luxury vs. necessity. We are comparing a high-end name-brand ring like Tiffany's vs other diamond rings. Because Tiffany's is such a well know and sought after brand, people will likely be willing to pay a little more for it because of the brand recognition and prestige.

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What factors are encouraging financial institutions to offer overlapping financial services such as banking, investment banking,
Anna11 [10]

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B. I and II only

Explanation:

I. Regulatory changes allowing institutions to offer more services II. Technological improvements reducing the cost of providing financial services

7 0
3 years ago
At the end of every 3 months, Teresa deposits into an account that pays 5% compounded quarterly. After she puts the accumulated
NikAS [45]

Answer:

The amount Teresa will have accumulated when this certificate matures is $2,452.16.

Explanation:

Note: This question is not complete as some important data are omitted. The complete question is therefore provided before answering the question as follows:

At the end of every 3 months, Rita deposits $100 into an account that pays 5% compounded quarterly. After 5 years, she puts the accumulated amount into a certificate of deposit paying 8.5% compounded semiannually for 1 year. When this certificate matures, how much will Teresa have accumulated?

The explanation of the answers is now provided as follows:

Step 1: Calculation of accumulated amount after 5 years.

Since the deposits are paid at the end of every 3 months, the accumulated amount after 5 years can be calculated using the formula for calculating the Future Value (FV) of an Ordinary Annuity as follows:

FV5 = P * (((1 + r1)^n1 - 1) / r) ................................. (1)

Where,

FV5 = Future value or accumulated amount after 5 years = ?

P = Quarterly deposit or deposit at the end of every 3 months = $100

r = Quarterly interest rate on the account = Interest rate on the account / Number of quarters in a year = 5% / 4 = 0.05 / 4 = 0.0125

n = number of quarters = 5 years * Number of quarters in a year = 5 * 4 = 20

Substituting the values into equation (1), we have:

FV5 = $100 * (((1 + 0.0125)^20 - 1) / 0.0125) =  $2,256.30

Therefore, the accumulated amount after 5 years is $2,256.30.

Step 2: Calculation of the amount Teresa will have accumulated when this certificate matures.

This can be calculated using the simple future value (FV) as follows:

FVM = FV5 * (1 + R)^N ……………………… (2)

FVM = Accumulated amount at maturity = ?

R = semi-annual interest rate on certificate of deposit = Interest rate on certificate of deposit / Number of semiannuals in a year = 8.5% /2 = 0.085 / 2 = 0.0425

N = number of semiannuals = 1 year * Number of semiannuals in a year = 1* 2 = 2

Substituting the values into equation (2), we have:

FVM = $2,256.30 * (1 + 0.0425)^2 = $2,452.16

Therefore, the amount Teresa will have accumulated when this certificate matures is $2,452.16.

3 0
2 years ago
I am currently stuck on an application question on why I left my job. How would I awswer this question if I worked at an amuseme
finlep [7]

Answer:

Give the reasons that you wrote

Explanation:

If I were you I would put the reasons that you wrote above but just make it sound more professional. Ex: I left my job at (name of amusement park) in (month) of (year) due to health issues.

5 0
2 years ago
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