<span>Absorbing markov chains are used in marketing to model the probability that a customer who is contacted by telephone will eventually buy a product. consider a prospective customer who has never been called about purchasing a product.</span>
If something goes wrong, the company will make sure you're not completely screwed.
Answer:
$721,000 is correct
Explanation:
Cost of goods sold =754000 + 125000 -158000
=721,000
Answer:
d. the camry becomes an inferior good because the good is now perceived as lower in quality than a lexus
Explanation:
There are a number goods that over time, for a variety of reasons, transition from being a normal good to an inferior good or from being an inferior good to a normal good. One such example of a good is the Toyota Camry. In the 1980s, more income for a household usually resulted in more Camrys being purchased. However, today more Toyota Camrys are purchased by households that have experienced a reduction in income.
How could this happen?
<u>This could only have happened because of a change in perception in households over time. </u>
It is stated in the Scenario that ''today more Toyota Camrys are purchased by households that have experienced a reduction in income.''
<u>That means Toyota Camry has become an inferior good that is purchased more when income falls.</u>
<u>Hence, the only reason the scenario would have occurred is that the camry becomes an inferior good because the good is now perceived as lower in quality</u> than a lexus
Answer:
As factors of production, the reward for land is rent, capital is interest, labour is wages and salaries and entrepreneur is profit.
