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4 years ago

For a normal good, a decrease in demand is represented as a

Business

1 answer:

Nina [5.8K]4 years ago

7 0

Answer:

C. leftward shift of the demand curve.

Explanation:

A normal good is a good whose demand increases when income increases and falls when income falls.

The demand curve is represented as downward sloping curve. It slopes downward because the higher the price, the lower the quantity demanded and the lower the price, the higher the quanirty demanded.

A fall in demand is represented by a leftward shift of the demand curve. A rise in demand is represented by a rightward shift of the demand curve.

Factors that leads to a leftward shift of the demand curve:

1. Decrease in income

2. Change in taste - if consumers prefer other products

3. Season

4. Fall in price of substitutes

I hope my answer helps you

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Gross Profit Method: Estimation of Flood Loss

Anastaziya [24]

Answer:

Hodge Company

Calculation of Estimated Loss on Inventory in the

Flood Using Gross Margin (Profit) Method

November 21, 2016

Inventory at November 1, 2016 $96,000

Purchases from November 1, 2016 $131,000

to date of flood

Cost of goods available for sale $227,000

Estimated cost of goods sold:

Net sales from November 1, 2016 $250,000

to date of flood

Less: Estimated gross margin $75,000 $175,000

(250,000 * 30%)

Estimated cost of inventory at date of flood $52,000

Less: Salvage goods $9,200

Estimated loss on inventory in the flood $42,800

3 0

3 years ago

During year 1, albrecht sold his personal sport plane that had an adjusted basis to him of $112,000 to roy for $140,000. roy pai

Airida [17]

Answer:

$8000

Explanation:

Given that:

Adjusted basis of sport plane = $112,000

Sales price = $140,000

Down payment = $40,000

Balance paid in $20,000 installment for the nest 5 years

Gross income:

Gross income = sales price - adjusted basis

Gross income = $140,000 - $112,000

Gross income = $28,000

Based on the installment payment of $20,000:

140,000/20,000 = 7

Gross income = $28000/ 7 = $4000

With down payment being 40,000

In year 1, down payment of $40,000 was made, which is 2 times the yearly installment amount.

Hence gross profit in year 1 = $4000 × 2 = $8000

5 0

3 years ago

Joseph exchanged land (tax basis of $34,000), that he had held for 4 years as an investment, for similar land valued at $42,000

brilliants [131]

Joseph should report a long-term capital gain of $8,000. The fact that Adrian assumed the mortgage does not affect Joseph's tax basis. The only relevant facts here are the fact that the land acquired in the exchange has a value of $42,000, and the tax basis of the parcel exchanged is $34,000. $42,000 - $34,000 = $8,000.

6 0

3 years ago

Describe a product, and then give an example of a time when the demand for this product might be high and the demand for this pr

wariber [46]

Fitness service
around the time after new year cuz ppl start to getting fat cuz of earing too much during new year holidday l
aroung jan to mar that s when ppl start to be very fire up about getting in shape

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3 years ago

You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted you an APR of 5.2 percent fo

just olya [345]

Answer:

Ans. Your monthly payments will be $1,602.37 ; The effective annual rate is 5.33%

Explanation:

Hi, first, we need to convert this APR rate into an effective monthly rate, that is, dividing 0.052/12 =0.00433 (or 0.4333%). Then we need to use the following equation and solve for A.

$PresentValue=\frac{A((1+r)^{n}-1) }{r(1+r)^{n} }$