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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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Sonny's Super Market has installed a self-service checkout counter, and wishes to understand how this has affected customer serv
valina [46]

Answer:

The Expected time a customer spends in the system is 4

Explanation:

According to the given data we have the following:

Arrival rate A = 1 every other minute = 30/hour or (30/60) per minute

Service rate S = 84 seconds = 60×60/84= 42.86 customers per hour

System utilization factor P = A/S = 30/42.86 = 0.699

Length of the system L = P/(1-P) = 0.699/(1-0.699) = 2.322

Therefore, Expected time a customer spends in the system = L/A = 2.322/(30/60) = 4.644=4

5 0
3 years ago
Orie and Jane, husband and wife, operate a sole proprietorship. They expect their taxable income next year to be $450,000, of wh
docker41 [41]

Answer:

A. 19,800

B. Check answer

Explanation:

In this question, we are asked to calculate or find out two things

Tax payable on $450,000 if they does not incorporate the sole proprietorship and file joint is 108,879.

If they incorporate sole proprietorship and shift $250,000 to it, on balance $200,000 taxable income they pay $36,579 on their individual return and on $250,000 business income at 21% tax payable is $52,500. Thus, total tax payable is $89,079.

By shifting $250,000 income to corporate, they are saving $19,800 in taxes.

b

Their marginal tax rate is 22% once their income crosses $77,400. It is beneficial if they keep $77,400 taxable in their hands and the balance $372,600 in the hands of the corporate at 21%.

3 0
3 years ago
Organizing as a corporation makes it easier for the firm to raise capital. This is because corporations' stock-holders are not s
My name is Ann [436]

Answer:

A) True

Explanation:

Organizing a partnership has several advantages; it is much faster, simpler and easy, start up costs are very low, etc.

But it has one huge disadvantage over a corporation, the partners are completely liable for the partnership's debts and obligations. That means that if the partnership goes bankrupt, the partners must pay all the debts and obligations. While a corporation's stockholders are only liable for the amount they invested in stock, i.e. you buy $10,000 in stock, then all you can lose is $10,000.

Also a corporations stocks are easily traded while a it is very complicated to transfer partnerships' rights.

3 0
3 years ago
The economic activities that typically produce an intangible product are referred to as
valentina_108 [34]

Answer:

The correct answer is: services.

Explanation:

Services can be defined as economic activities that produce intangible and non-physical products. For instance, education, health, tourism, hospitality, etc.  

Services cannot be stored in inventory. They are produced and consumed at the same time. They cannot be produced in advance to be used in the future.

6 0
3 years ago
Regency Inc. makes disposable cap and gown sets for graduations. Each cap and gown set sells for $15. The average variable cost
melomori [17]

Answer:

The Breakeven point is 13,000 units.

Explanation:

The breakeven point can be found from the following equation:

Breakeven units = Fixed Costs / Contribution Per unit

Here, contribution per unit is $5 per unit which is the difference between the selling price and variable costs per unit.

The fixed cost here is $65000.

By putting the values in the above equation, we have:

Breakeven units = $65,000 / $5 per unit = 13,000 units

5 0
2 years ago
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