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4 years ago

True or False:If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is an inferior good.

1 answer:

5 0

False.

If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is a GIFFEN GOOD.

An inferior good is a good that decreases in demand if income increases. These are the goods that people opt not to buy when their purchasing power increases.

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Pendant Publishing is considering a new product line that has expected sales of $1,100,000 per year for each of the next 5 years

Katyanochek1 [597]

Answer:

The operating cash flow of year 1 for the company is $368,500

Explanation:

In order to calculate the operating cash flow of year 1 for the company first we need to calculate the Cashflow before tax and depreciation as follows:

Cashflow before tax=Sales-Variable cost-fixed cost

Cashflow before tax=$1,100,000-$450,000-$180,000

Cashflow before tax=$470,000

Depreciation = Original cost - Salvage / fixed Cost

Depreciation= $1,200,000 - $300,000 / 5

= $180,000

Therefore, to calculate the operating cash flow of year 1 for the company we would have to make the following calculation:

Operating Cash Flow=(CFBT×65%)+Depreciation×35%

Operating Cash Flow=($470,000×65%)+($180,000×35%)

Operating Cash Flow=$368,500

The operating cash flow of year 1 for the company is $368,500

5 0

3 years ago

The invention of the _____ is what distinguished modern restaurants from predecessor food service operations.

Levart [38]

The invention of restaurant foods is what distinguished modern restaurants from predecessor food service operations.

<h3>What is meant by food service operations?</h3>

An establishment that serves meals designed to be served in individual quantities for a fee or a mandated donation is known as a food service operation. Restaurants, nursing homes, hospitals, prisons, coffee shops, and candy stores are a few examples of FSO.

Controlling food expenditures is essential for a successful restaurant, which is why food service management is so important. FSMs assist firms in remaining profitable by training staff on serving and preparation standards, maintaining a careful inventory of stock, and identifying various sources for the most affordable ingredients.

The earliest signs of the food service sector date around 3000 BC during the Sumerian era. The majority of the time, temples and palaces served food. They hired chefs, who prepared meals for the aristocracy and visitors.

The invention of restaurant foods is what distinguished modern restaurants from predecessor food service operations.

To learn more about food service operations refer to:

brainly.com/question/26298316

#SPJ4

5 0

2 years ago

Victoria Enterprises has $1.6 million of accounts receivable. The company's DSO is 40, its current assets are $2.5 million, and

astraxan [27]

Answer:

1.26

Explanation:

Current ratio=1.5

DSO=40

DSO=Net sales/Average Accounts receivable

40=(Average Accounts receivable/Net sales)*365

1,600,000/(40/365)=Net sales

Net sales=$14,600,000

Revised DSO=30

(30/365)=Average Accounts Receivable-revised/$14,600,000

Average Accounts Receivable-revised=$1,200,000

Current Assets-Old Receivables+New Receivables= $2,500,000-1,600,000+1,200,000=$2,100,000

Current liabilities=2,500,000/1.5

Current liabilities=$1,666,667

Revised current ratio=$2,100,000/1,666,667

Revised Current ratio=1.26

8 0

4 years ago

A cartel is an example of: a price leadership. b price extortion. c tacit collusion. d overt collusion. e price discrimination.

Law Incorporation [45]

Answer:

d overt collusion.

Explanation:

Overt collusion occurs when a group of companies collude to increase price of a commodity in a given market.

Competing firms secretly come together to gain control in a market in a similar way to a monopoly.

Overt collusion is a formal agreement between the companies involved.

This practice is considered illegal in the United Kingdom and European Union

8 0

3 years ago

The National Council of Small Businesses is interested in the proportion of small businesses that declared Chapter 11 bankruptcy

Arlecino [84]

Answer:

n = 150.06

Explanation:

Since the confidence c = 95% = 0.95

α = 1 - 0.95 = 0.05

$\frac{\alpha }{2} = \frac{0.05}{2}=0.025$

z score of 0.025 is the same as the z score of 0.5 - 0.025 = 0.475

From the probability table, $z_{0.025}=z_{0.475}=1.96$

Also E = 0.08

Therefore the sample size n is given by:

$n = \frac{1}{4}(\frac{z_{0.025}}{E} ) ^2=\frac{1}{4} *(\frac{1.96}{0.08})^2 =150.06$

n = 150.06

The sample must be at least 150.06 to be 95% sure that a point estimate will be within a distance of 0.08 from p

3 0

3 years ago