1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Len [333]
3 years ago
12

g If the demand for a product increases proportionately faster than the increase in consumers' incomes, then the income elastici

ty of demand for the product is Multiple Choice zero. greater than zero. less than zero. equal to 1.
Business
1 answer:
wlad13 [49]3 years ago
5 0

Answer:

greater than zero.

Explanation:

Income elasticity of demand measures the responsiveness of quantity demanded to changes in income

Income elasticity of demand = percentage change in quantity demanded / percentage change in income.

I hope my answer helps you

You might be interested in
An automobile battery manufacturer offers a 39/50 warranty on its batteries. The first number in the warranty code is the free-r
balandron [24]

Answer:

1)

If the manufacturer's assumptions are correct, it would need to replace 8.23% of its batteries free of charge.

Option a) 8.23% is the correct option

2)

the required standard deviation is 3.8

Option a) 3.8 is the correct answer

Explanation:

Given the data in the question;

mean μ = 44

standard deviation σ = 3.6

if a battery fails within 39 months of purchase, the manufacturer replaces the battery at no charge to the consumer. If the battery fails after 39 months but within 50 months

1)

If the manufacturer's assumptions are correct, it would need to replace_____ of its batteries free of charge

p( X < 39 ) = P( X-μ/σ < 39-μ/σ )

we substitute

= p( Z < ((39-44)/3.6 ))

= p( Z < -1.39 )

from standard normal table; p( Z < -1.39 ) = 0.08226 ≈ 0.0823

p( X < 39 ) = 0.0823 or 8.23%

Therefore, If the manufacturer's assumptions are correct, it would need to replace 8.23% of its batteries free of charge.

Option a) 8.23% is the correct option

2)

The company finds that it s replacing 9.34% of its batteries free of charge. It suspects that its assumption about the standard deviation of the life of its batteries is incorrect. A standard deviation of ______ results in a 9.34% replacement rate.

given that;

P( Z < x-μ/σ ) = 9.34%

⇒ P( Z < 39-44/σ ) = 0.0934 ----- let this be equation 1

now, from standard normal tables

∅( -1.32 ) = 0.0934   ---------- let this equation 2

so from equation 1 and 2

39-44/σ = -132

-5/σ = -1.32

σ  = -5 / - 1.32

σ  = 3.7879 ≈ 3.8

Therefore, the required standard deviation is 3.8

Option a) 3.8 is the correct answer

7 0
2 years ago
Why is it important to file your income taxes before tax day? provide two reasons.
Lana71 [14]

Answer:

There are several reasons to complete tax returns early rather than waiting until Tax Day: More accurate returns potentially resulting in larger refunds. Less competition for appointments with tax preparers. More time to plan for tax payments. Less chance of tax fraud.

Explanation:

:) DO YOUR TAXES!!! lol

8 0
2 years ago
Read 2 more answers
Deere is a global manufacturer and distributor of agricultural, construction, and forestry equipment. Suppose it reported the fo
Sveta_85 [38]

Answer:

5.95

Explanation:

Deere inventory turnover for 2017 ratio is:

Formula for Inventory Turnover Ratio= Cost of Goods sold / Average Inventory

Where Average Inventory = (Previous Inventory + Current Inventory) / 2

= ($2,267 + $2,999) / 2

=$5,266 / 2

=$2,633

Average Inventory = $2,633

Therefore, Inventory Turnover Ratio =  $15,661 / $2,633 = 5.9479 = 5.95

Deere Inventory Turnover for 2017 Ratio is  5.95.

7 0
3 years ago
The Goliath Inc. decides to pay the following dividends over the next three years: $2, $2.6, and $3.38. Thereafter, the company
pochemuha

Answer:

The solution and complete explanation for the above question and mentioned conditions is given below in the attached document.i hope my explanation will help you in understanding this particular question.

Explanation:

7 0
3 years ago
Read 2 more answers
the market value of the equity of Ginger, Inc., is $710,000. The balance sheet shows $45,600 in cash and $227,800 in debt, while
KengaRu [80]

Answer:

3.34 times

Explanation:

Ginger incorporation has a market valu of equity of $710,000

The debt is $227,800

Cash is $45,600

EBIT is $102,800

The first step is to find the enterprise value

= market capitalization + debt -cash

= $710,000 +$227,800 - $45,600

= $937,800-$45,600

= $892,200

The EBITDA can be calculated as follows

= EBIT + depreciation and amortization

= $102,800 + $164,600

= $267,400

Therefore the enterprise value-EBITDA can be calculated as follows

= 892,200/267,400

= 3.34 times

7 0
3 years ago
Other questions:
  • Anticipating the outcome of a peg, economists believe the stable condition is a situation in which combinations of investor beli
    14·1 answer
  • You currently purchase a part used in your production process from an outside supplier, and have decided to begin making this pa
    6·1 answer
  • ERP systems can provide vital cross-functional information on business performance to managers in a very timely manner. This des
    11·1 answer
  • Now Inc. released its annual results and financial statement. Grace is reading the summary in the business pages of today's pape
    11·1 answer
  • Under the gold standard of currency exchange that existed from 1879 to 1914, an ounce of gold cost $20.67 in U.S. dollars and £4
    6·1 answer
  • Land costing $71,000 was sold for $50,000 cash. The loss on the sale was reported on the income statement as other expense. On t
    12·1 answer
  • Alaska North Slope Crude Oil (ANS) $71.75/Bbl West Texas Intermediate Crude Oil (WTI) $73.06/Bbl As an oil refiner, you are able
    5·1 answer
  • Addison Corporation is considering the purchase of equipment that would increase sales revenues by $250,000 per year and cash op
    6·1 answer
  • According to ______, market participants immediately change their actions in response to anticipated price-level changes, such t
    14·1 answer
  • upton industries has revenues of $42,629, interest expense of $1,230, depreciation of $2,609, cost of goods sold of $23,704, div
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!