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Elodia [21]
3 years ago
10

Goods with many close substitutes tend to have a. more elastic demands. b. less elastic demands. c. price elasticities of demand

that are unit elastic. d. income elasticities of demand that are negative.
Business
1 answer:
Aleksandr-060686 [28]3 years ago
4 0

Answer:

The correct answer is (A)

Explanation:

Normally, goods which close substitutes tend to have more elastic demand as it is easier to switch from one brand to another because they are close substitutes. For example, if the price of Pepsi increases the consumers will easily shift towards Coca-Cola. So, close substitutes are price sensitive and they have high elastic demand compared to other goods.

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Suppose that Greece and Switzerland both produce beer and olives. Greece's opportunity cost of producing a crate of olives is 5
Rama09 [41]

<u>Answer: </u>

Out of the following prices, the price of 7 barrels of beer per crate of olives would make the trade beneficial for both Greece and Switzerland.

<u>Explanation: </u>

  • As we know that in Greece, a single crate of olive costs five barrels of beer. Where on the other hand, in Switzerland, one crate of olive costs ten barrels of beer.
  • Hence, if Greece agrees on giving one crate of olives on every seven barrels (two barrels more than what it costs in Greece), the trade would be beneficial for Greece.
  • Similarly, if one crate of olives costs seven barrels of beer instead of ten barrels, the trade would be beneficial for Switzerland too.
3 0
3 years ago
A manufacturing company has annual sales of $180,000 and inventory of $40,000. The inventory turnover ratio for the company is _
NISA [10]

Answer:

4.5

Explanation:

Inventory refers to the goods that a company has in its stock. Inventory includes raw materials and finished goods sold by the company.

Inventory turnover refers to the number of times a company sells and replaces its inventory during a given period.

Annual sales of a manufacturing company =\$180,000

Inventory =\$40,000

Inventory turnover ratio for the company = Sales/Inventory

=\frac{180,000}{40,000} =4.5

6 0
2 years ago
During January 2017 General Fund supplies ordered in the previous fiscal year and encumbered at an estimated amount of $2,000 we
Norma-Jean [14]

Answer:

The correct answer is:

Expenditures—2017 in the amount of $200. (C.)

Explanation:

This scenario describes a record that was less than the actual amount spent on the General Fund supplies. The amount recorded was $2,000, meanwhile the actual amount spent was $2,000. This entails that an amount worth $200 was not recorded, hence it will be debited as expenditures, but the question now is where the debit will be recorded?

This review was done in January 2017, meaning that the income statement for the 2016 Fiscal year must have been balanced, hence the amount will be an expenditure recorded in 2017, but the particulars will have a description that it was a carried over expenditure from 2016. Therefore $200 will be debited from 2017 as expenditures.

5 0
2 years ago
The plaintiff explains that she acted with the value of integrity when she started her own cleaning business. What did she claim
Anit [1.1K]

Answer:

Called the clients and cancelled jobs

Explanation:

If the plaintiff worked for the defendant and left to set up her own cleaning business, then she will most likely be bound by a non-compete clause.

So if she is saying she acted with the value of integrity, then she would called any of the defendant's clients and cancelled jobs in order to respect the non-compete clause.

However after sometime the non-compete clause is no longer binding.

3 0
3 years ago
What is strategic procurement ​
Elodia [21]

Hi There :D

Basically it's advanced planning, scheduling, and group buying initiatives, a firm can experience significant cost savings

6 0
3 years ago
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