Answer:
d. Rise in price of alcohol
Explanation:
Change in Quantity demanded occurs due to change in Price. Change in Demand happens due to factors other than price - Income, Substitute & Complementary good's price, Taste.
Change in alcohol demand - due to substitute Cigarette price change , Change [Decrease] in alcohol demand - due to change in taste based on anti drinking sentiments, higher risk of alcohol liver cirrhosis , Change [Increase] in alcohol demand - due to change [rise] in Income : These all are due to factors other than price & hence are 'Change in Demand'
Rise in price of Alcohol leads to 'Change [Expansion] in Quantity Demanded' due to price change [rise] .
Answer:
-1.5
Explanation:
Given the following :
Rothschild index = 0.6
Elasticity of demand for total market = - 0.9
Annual sale = $1,450,000
Elasticity of demand for a representative retailer's product :
Using the Rothschild demand Elasticity relation:
Rothschild index = (Elasticity of demand for total market / Elasticity of demand for a representative retailer's product
0.6 = - 0.9 / Elasticity of demand for a representative retailer's product
Elasticity of demand for a representative retailer's product = - 0.9 / 0.6
= - 1.5
Answer: younger; older
Explanation:
Anthony is most likely younger as he still sees fulfillment when he gets a good salary and benefits from a good job while Henry is older, having set up a firm, values his employees and how the work is done.
If the prices go to high then the demands will go down
Answer:
1. G
2. D
3. A
4. H
5. E
6. B
7. C
8. F
Explanation:
1. First-in, first-out method: A process costing method that costs each period’s equivalent units of work with that period’s costs per equivalent unit
2. Equivalent units: Measure of the work done during a production period, expressed in terms of fully complete units of output
3. Direct labor and factory overhead: Conversion costs
4. Cost of production report: Summary of the activity in a processing department for a specific period
5. Process costing: Costing system used by a company producing computer chips
6. Direct labor and direct materials: Prime costs
7. Transferred-in costs: Costs incurred in a previous process that are carried forward as part of the product’s cost when it moves to the next department
8. Job order costing: Costing system used by a company producing custom window treatments.