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eduard
3 years ago
13

A good with many close substitutes is likely to have relatively ______ demand, since consumers can easily choose to purchase one

of the close substitutes if the price of the good rises.
Business
1 answer:
Anna [14]3 years ago
6 0

Answer: Elastic

Explanation: When a good has close substitutes a small change in the price of the good will lead to a large change in its demand as consumers will switch to the less costly substitute good. Therefore,  good with many close substitutes is likely to have relatively elastic demand, since consumers can easily choose to purchase one of the close substitutes if the price of the good rises.

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Susan Zupan, a lawyer, accepts a legal engagement in March, performs the work in April, and is paid in May. If Zupan's law firm
UkoKoshka [18]

Answer:

The month of April

Explanation:

Susan Zupan, a lawyer, accepts a legal engagement in March, performs the work in April, and is paid in May. If Zupan's law firm prepares monthly financial statements, the law firm should recognize the revenue in April because according to revenue recognition principle, revenue should be recognized in the accounting period in which services are performed, and Susan zupan performed the work in April so therefore the firm should recognize the revenue in April.

4 0
3 years ago
Use this image to answer the following question. The ice cream shop needs about two pounds of cocoa for each gallon of chocolate
navik [9.2K]
I think this is a trick question. Say, there are 2 pounds of cocoa / 1 gallon of chocolate ice cream. But then the problem only mentions the production of eight gallons of <em>strawberry</em> ice cream, not chocolate ice cream.

However, if they're somehow related (like they are made from the same machine), then you need 16 pounds of cocoa to produce 8 gallons of chocolate ice cream. 
3 0
3 years ago
In the forbes article, kotlikoff explains that saving and investing decisions should be guided by?
vladimir2022 [97]

In the forbes article, kotlikoff explains that saving and investing decisions should be guided by strategies that maximize expected utility.

Saving can mean a variety of things to various people. Some believe that it requires making a bank deposit. Investing in stocks or making contributions to a retirement plan are some more definitions. Conversely, according to economists, saving is the act of using less of a specific amount of resources today in order to consume more later. So, the choice to delay consumption and put that delayed consumption in an asset is what is meant by saving.

Saving is either deferred consumption or revenue that is not spent. Putting money aside in various accounts, such as a savings account, a pension account, an investment fund, or in cash, counts as a saving strategy. In order to save, expenses like recurrent charges must be reduced.

Learn more about saving here

brainly.com/question/14584624

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5 0
2 years ago
Baker’s Financial Planners purchased seven new computers for $970 each. It received a 20% discount because it purchased more tha
yawa3891 [41]

Answer:

Check:  5,269.04

Explanation:

We will multiply each computer by the list price. Then, apply the order discount of 20%. Finally the invoice discount of 3% for payment within 10 days

7 computer x 970 dollars each = 6,790

20% Discount for quantity:

6,790 x 20%                                  (1,358)

                   Invoice nominal:        5,432

discount within the first 10 days:

5,432 x 3%                                       (162.96)

        final amount:                       5,269.04

4 0
3 years ago
What is the term for something that is produced by the mind, such as new invention that was commercial value?
mr_godi [17]
I just got a great idea?
6 0
3 years ago
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