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Ugo [173]
3 years ago
9

Sunny expanded her business last year by adding a gift shop in her salon. Because of this addition her income has increased by 1

3%. Although her income has increased, she has a 9% drop in the quantity demanded of hamburgers. In this example, Sunny’s:_____
a. Income elasticity is 69 and the good is a normal good.
b. Cross-price elasticity is 1.44 and the good is an inferior good.
c. Income elasticity is 69 and the good is an inferior good.
Business
1 answer:
sergey [27]3 years ago
5 0

Answer:

c. Income elasticity is 69 and the good is an inferior good.

Explanation:

Income elascitiy = percentage change in quantity demanded / percentage change in income

9% / 13% = 0.69 = 69%

An inferior good is a good whose demand falls when income increases and whose demand increases when income falls. When sunnys income increased, she reduced her demand for hamburgers.

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

Cross price elasticity of demand measures the responsiveness of quantity demanded of good A to changes in price of good B.

I hope my answer helps you

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Millie, age 80, is supported during the current year as follows: Percent of Support Weston (a son) 20% Faith (a daughter) 35% Ja
dezoksy [38]

The parties who may qualify to claim Millie as a dependent are Weston and Faith (option B)

A support agreement is a contract between one or more people who voluntarily agree to support other people (usually children or elderly parents).

In the case presented, the people who qualify are:

  • Weston and Faith (option B)

These two people qualify because between them they give more than 50% of the support and are closely related to Millie, they are her children.

On the other hand, Jake and Brayden do not classify because they do not contribute equally or more than 50% of the support and one of them is not related to Millie.

According to the above, the correct answer is B, because it mentions the people who qualify to claim Millie as a dependent.

Learn more in: brainly.com/question/12090527

3 0
3 years ago
Ben White is the manager of a retail store. His work typically includes the routine, day-to-day interactions with customers and,
lubasha [3.4K]

Answer:

c

Explanation:

because he has to do a little of eveything

3 0
4 years ago
Whenever Josh goes to his favorite restaurant, he wants to buy tiramisu, his favorite dessert. Despite the fact that he would en
solniwko [45]

Answer: Framing effects

Explanation:

The framing effect is referred to as or known as a cognitive bias under which an individual tends to decide upon the options that are mostly based on the fact whether the given options are also represented with negative or positive connotations, i.e. as a gain or as a loss. Individual usually avoid risk while a positive frame is being presented but tend to seek risks while a negative frame is being presented.

5 0
3 years ago
A Virginia county is considering whether to pay $50,000 per year to lease a prisoner transfer facility in a prime location near
Mice21 [21]

Answer:C. $50,000

Total revenue would be $300,000. Total cost would be $250,000 (fixed = $50,000; variable = $200,000).

Explanation:

4 0
3 years ago
A credit to a liability account would happen upon the sale of a product because?
erastova [34]

A credit to a liability account would happen upon the sale of a product because the Merchandise that was sold is subject to state sales tax.

<h3>What do credit do to liabilities?</h3>

In accounting, a credit is always been positioned on the right side of an entry and it effect is that it increases liability, revenue or equity accounts and decreases asset or expense accounts.

Because the state sales tax is seen as expenses, then, a credit to a liability account would happen upon the sale of a product because the Merchandise that was sold is subject to state sales tax.

Read more about liability account

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#SPJ4

6 0
2 years ago
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