Answer:
Total cost = $3477.5
Explanation:
Given the following data;
Sales tax = 7%
Cost price = $3250.00
To find the total cost for the printer;
First of all, we would determine the sales tax
Sales tax = 7/100 * 3250
Sales tax = 7 * 32.5
Sales tax = $227.5
Now, we can find the total cost;
Total cost = sales tax + cost price
Total cost = 227.5 + 3250
Total cost = $3477.5
Answer:Please refer to Explanation
Explanation:
Cross Price Elasticity of Demand is a very useful tool in Economics to ascertain if goods are compliments or Substitutes.
Cross Price Elasticity of Demand (CPSD) measures the change in demand in one good due to a change in price is the other good.
If the CPSD is negative then the goods are Compliments meaning that they are used together which is why when the price of one good goes down, the demand of the compliment goes up because more of the original good will be bought due to the lower price.
If the CPSD is Positive, it means that they are Substitutes and a Decrease in price in one good leads to a decrease in demand for the other good because people will demand less of it and switch to the former (now cheaper) good.
The formula is,
= % change in Quantity Demanded of Product A /% change in Price of Product B
a. Splishy splashies and Flopsicles
CPSD = -18%/-1%
= 18%
The CPSD for both these products is 18% which is a positive figure. This means that they are Substitutes and <u>should not be marketed together. </u>
b. Splishy Splashies and Flopsicles
CPSD = 3%/-1%
= -3%
With the CPSD being a negative figure here, these goods are Compliments.
Splishy Splashies and Flopsicles <u>should be Marketed together</u> as they compliment each other.
Buying on margin is basically borrowing money from your broker that you don't necessarily have at the time to buy additional shares. You must have a margin account, which is separate from your cash account. Usually you are able to borrow up to 50% of the new stock price.
Answer:
C. a building would be a fixed factor of production in the short run
Explanation:
A fixed factor of production are factors of production that cannot be readily varied with production level or output e.g. building, equipment.
A variable favor of production are factors of production that can be easily varied with production. E.g. labour
In the long run, all factors of production can be varied.
Insurance is an expense.
Food is the output produced by the restaurant.
I hope my answer helps you