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lys-0071 [83]
3 years ago
8

When the price of Nike soccer balls fell, Ronaldo purchased more Nike soccer balls, and fewer Adidas soccer balls. Which of the

following best explains Ronaldo's decision to buy more Nike soccer balls? A.the substitution effect B. the income effectC. an increase in the demand for Nike soccer balls D. the price effect
Business
1 answer:
Pie3 years ago
8 0

Answer:

The correct answer is (A)

Explanation:

Nike and Adidas are considered as substitute goods that means they have positive cross elasticity of demand. When the price of Nike soccer balls fell, Rolando purchased more Nike balls compared to Adidas balls because of the substitution effect. The substitution effect led to this decision. A substitute effect is a change in the purchase decision, due to an increase in the price of one substitute good.

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Suppose that there is a welfare program with an income guarantee of $6000 and a benefit reduction rate of 50 percent. In the abs
STatiana [176]

Answer:

Draw the person's budget constraint with the income guarantee

5 0
3 years ago
Suppose a competitive firm has​ cost, C​ = ​(0.002q3​) ​+ (22q)​ + 750, marginal​ cost, MC​ = 0.006q2​ + 22, and​ revenue, R​ =
aniked [119]

Answer:

 Options B and C are correct.

  • Marginal profit is negative.
  • Profit is positive.

Explanation:

At q = 150

R = 80q = 80(150) = 12,000

C = 0.002(150)3 + 22(150) + 750 = 6750 + 3300 + 750 = 10,800

R > C so first is incorrect.

MR = 80

MC = 0.006(150 x 150) + 22 = 135 + 22 = 157

MC > MR so B is correct.

Profit = TR - TC = 80(150) - 0.002(150)3 - 22(150) - 750 = 12000 - 10800 = 1200

Profit is positive.

Marginal profit = MR - MC = 80 - 157 = - 77

MR is Negative

3 0
2 years ago
Ian participates in a 401(k) plan at work. For every $1 Ian contributes to the plan, his employer adds 50 cents. Employer contri
Inessa [10]

Answer: $5,150

Explanation:using the information given above,

For every $1 contributed by the employee, employer adds 50cent.

Employer contribution ends after employee contributes $2500 to the 401(k) plan.

Last year:

Ian's weekly contribution = $75

Number of weeks in a year = 52

Ian's total contribution ($75 × 52) = $3,900

Ian's Employer's total contribution:

$0.5 × $2500 = $1,250

Therefore total contribution last year :

$3900 + $1250 = $5,150

6 0
3 years ago
The balance of stockholder's equity at the beginning of the year and the end of the year was 70,000 and 60,000, respectively. Th
ivann1987 [24]

Answer: 12,000

Explanation:

Given that,

Stockholder's equity at the beginning of the year = 70,000

Stockholder's equity at the end of the year = 60,000

Dividends = 22,000

Net Income = Ending Balance + Dividends - Beginning Balance

                    = 60,000 + 22,000 - 70,000

                    = 12,000

Therefore, the net income for the year was 12,000.

6 0
3 years ago
The marketing manager of ToyBiz indicated that due to manufacturing efficiencies and market buzz, a new toy they were about to l
levacccp [35]

Answer: Ethicalness

Explanation: Choosing to abide by standard principles or protocol irrespective of the effect such action has on the the society could be interpreted as ignoring ethical standard. Ethics as to do with moral principle, empathy to recognize feelings of others and opting to stick with morally good or acceptable choices and avoiding the opposite irrespective of standard laws or financial gains.

With ToyBiz choosing to ignore the potential injury posed to users of it's new launch and sticking to decision which offers a higher profit as long as it doesn't violate standard design principle, Ethicalness has been ignored in their decision.

4 0
2 years ago
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