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IgorLugansk [536]
3 years ago
13

Maria sees a leather coat in a department store and purchases it immediately even though it is expensive. Before purchasing, she

experiences inner tension that she may be able to purchase the same coat for a lesser price in another store. This inner tension is an example of _____.
Business
1 answer:
igomit [66]3 years ago
3 0

Answer:

cognitive dissonance

Explanation:

Cognitive dissonance occurs when an individual pursues more than one contradictory value, idea, or belief. This leads to stress as the person is form between multiple choices.

For example a HR manager is responsible for staff welfare and also owes allegiance to the management. If management is carrying out a policy that has adverse effect on staff the HRanager will be torn between conflicting beliefs.

In this case although Maria purchased the coat at higher price she experiences tension because she would have purchased it at lower price somewhere else.

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Hugh, Frank, and Luis are the only three buyers of gold in a small mining town. Their inverse demand functions for gold are as f
saveliy_v [14]

Answer:

Explanation:

Hugh p= 480 - 48Qh

Frank p= 80 - 8Qf

Louis p= 20 - 2Ql

1. price of an ounce of gold = $20

Hugh will demand: 20 = 480 - 48Qh; Qh = 460/48 = 9.58 ounce

Frank will demand: 20 = 80 - 8Qf; Qf = 60/8 =7.5 ounce

Louis will demand: 20 = 20 - 2Ql; Ql = 0 ounce

Total demand = 9.58+7.5+0=17.08 ounce

2. quantity demanded of gold in this market is 16.50

Hugh Demand function: p=480-48Q , Q=10-p/48

Frank Demand function: p=80-8Q , Q= 10-P/8

Lius Demand function: p=20-2Q , Q= 10-p/2

Hugh will demand 0 quantity at , p=480-48*0 = $480

Frank will demand 0 quantity at , P=80-8*0 = $80

Lius will demand 0 quantity at , p=20-2*0 = $20

So when Price is between 80 to 480 only Hugh will participate in market. The demand function will be Q= 10-P/48

When Price is between 20 to 80 only Hugh and Frank will participate in market. The demand function will be Q=10-p/48 + 10-P/8   = 20-7p/48

When Price is between 0 to 20  all three will participate in market. Hence demand function will be Q=20 - 7p/48 + 10 - p/2  = 30 - 31p/48

When Demand is 16.5 ounce and if Price is between 80 to 480, then 16.5=10-P/48

P/48=-6.5

This is not possible

When Demand is 16.5 ounce and if Price is between 20 to 80, then

16.5=20-7p/48

7p/48 = 20-16.5

p = 48*3.5/7 = $24

Market price of an ounce of gold must be $24

6 0
4 years ago
What does reconciling an account involve?
Vaselesa [24]
You have to make sure all debits and credits in the account are accounted for.  if you are balancing your checkbook, then your bottom amount should match your bank statement
3 0
4 years ago
Read 2 more answers
Which change is illustrated by the shift taking place on
enyata [817]
Where’s the graphhh?
8 0
3 years ago
Our company sold a batch of goods by way of letter of credit. Due to problems during the loading, most of the goods were loaded
Lana71 [14]

Answer:

The Uniform Customs and Practice for Documentary Credits (UCP) is published by the International Chamber of Commerce and was revised in 1993 and put into use January 1, 1994. The purpose of the UCP is to clarify gray areas that may appear in a letter of credit and to help banks interpret conditions in the letter of credit in a consistent manner.

However, as anyone who has ever worked with a letter of credit knows, there is plenty of disagreement between all parties concerned. Banks, account parties, and beneficiaries can all disagree about what complies and what does not comply when the shipping documents are checked against the terms of the letter of credit.

Sometimes the UCP just doesn’t clarify a situation the way you think it should. After all there is a huge difference between the words “will” and “may.” For instance: “Banks will accept…” versus “Banks may accept….” One is definite and the other appears to be open to interpretation. It’s not surprising confusion results.

8 0
3 years ago
On February 1, 2020, Sunland Corporation issued 2,800 shares of its $5 par value common stock for land worth $36,400. Prepare th
wariber [46]

Explanation:

The journal entry is as follows

On February 1, 2020

Land Dr $36,400

        To Common Stock $14,000

        To Paid- in capital in excess of par value - common stock $22,400

(Being the common stock is issued for land)

The computation is shown below:

For common stock

= 2,800 shares × $5 per share

= $14,000

And, the remaining balance is credited to the paid in capital in excess of par value i.e $22,400

7 0
3 years ago
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