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swat32
3 years ago
13

To an economist, an increase in demand means the same thing as an increase in quantity demanded.

Business
1 answer:
Morgarella [4.7K]3 years ago
7 0
<span>This is false. An increase in demand is more major than an increase in quantity demanded. Quantity demand refers to the demand of a product at a particular price and is only a movement on the demand curve. An increase in demand would cause the demand curve to shift which is more major than a movement and it encompasses the entire relationship between price and demand.</span>
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Mike is walking through a parking lot and finds Kathy lying unconscious. He puts her in his car and takes her to the hospital. T
slava [35]

Answer:

The answer to this question is c. Kathy has to pay based on a quasi contract.

Explanation:

Based on the scenario displayed above Kathy has to pay based on a quasi contract.

A  Quasi contract is a contract  that is created by a court order, not by an agreement made by the parties to the contract. For example, quasi contracts are created by the court when no official agreement exists between the parties, in disputes over payments for goods or services

In this case there has not been an official agreement between Kathy and the hospital, However she has to pay the bill presented to her based on Quasi contract which is created to prevent an individual to be unjustly enriched or from benefiting from the situation when he/she  does not deserve to do so.

Hence the answer is c. Kathy has to pay based on a quasi contract.

5 0
3 years ago
During periods of decreasing costs, the use of the LIFO method of costing inventory will result in a lower amount of net income
gladu [14]

Answer:

b. False

Explanation:

LIFO stand for Last in First Out. This means LIFO inventory valuation is based on earlier goods purchased.

So, when costs are decreasing, they are affecting latter prices and this usually affect FIFO (First in First Out) not LIFO.

7 0
3 years ago
On December 28, I. Greasy Catering Company completed $600 of catering services. As of December 31, the customer had not been bil
nikdorinn [45]

Answer:

a. Debit Accounts receivable for $600

Explanation:

As Greasy catering company provided services but had not got the bill from the customer, it increases an asset. According to the revenue recognition principle, revenue has recognized whenever it is provided not when the cash is received. In that case, the journal entry to record the transaction is -

Accounts receivable (Debit) $600

Revenue (Catering)  (Credit) $600

Accounts receivable is debit because the company owes the amount from the  customers.

8 0
3 years ago
What is the best advice for negotiating a business deal in a cross-cultural setting? avoid a win/win outcome. conduct transactio
DerKrebs [107]

In this case, you would want to avoid a win-lose situation.

1. You would want a win-win (where both parties feel as though they are gaining something from the transaction).

2. You can never go into an international negotiation with the same mentality as you would for in the US. Every culture is different and you should be aware of those differences.

3. You should not move too quickly between subjects. You should always ensure all parties understand and agree, which may take time.

7 0
3 years ago
Classify each of the following as structural, organizational, or activity cost drivers.
pshichka [43]

Answer:

Organizational

Explanation:

An organizational structure in one in which certain activities are aligned to achieve the ultimate goal of the organization. Here also Apple Inc. has arranged all similar types of set of machines together to get particular output product. The cost drivers in organizational composition can influence the output of a company.

8 0
3 years ago
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