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
mash [69]
3 years ago
13

A speedboat is considered to be a normal good and a luxury good. therefore, we would expect the income elasticity of demand to b

e:
Business
1 answer:
Soloha48 [4]3 years ago
4 0
<span>Speedboat is considered to be a luxury good. Income elasticity is considered to be positive with the level of income which means if the income level is higher then the demand for luxury goods will also be higher. In this case, as the income increases, the demand of speedboat will be increased. Hence, speedboat has a positive relation with income elasticity of demand.</span>
You might be interested in
ABC company wants to start a new project but is unable to obtain the financing under any circumstances. This firm is facing:
Norma-Jean [14]

Answer:

sorry idon t now answer this quetion

5 0
3 years ago
A firm is productively efficient when:__________.
inna [77]

Answer:

Its is A

Explanation:

7 0
3 years ago
Economics can be defined as the study of?
bazaltina [42]
For whom resources are allocated to increase efficiency. economics can as well be described as the production, distribution and consumption of goods and services. scarce resources that have alternative uses 
7 0
3 years ago
Croft Corporation produces a single product. Last year, the company had a net operating income of $89,000 using absorption costi
Maksim231197 [3]

Answer:

21,200 units

Explanation:

For determining the sales, first we have to compute the net operating income difference which is shown below:

= Net operating income under absorption costing - Net operating income under variable costing

= $89,000 - $74,600

= $14,400

Now the inventory units increased by

= $14,400 ÷ 12 per unit

= 1,200 units

And, the production units are 22,400

So, the sales would be

= 22,400 units - 1,200 units

= 21,200 units

This is the answer and the same is not provided in the given options

4 0
3 years ago
A company deposits $3500 in a bank at the end of every year for 12 years. The company makes no deposits during the subsequent 8
Firdavs [7]

Answer:

FV= $94,108.42

Explanation:

<u>First, we need to calculate the future value of the 12 annual deposits:</u>

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {3,500*[(1.06^12) - 1]} / 0.06

FV= $59,044.79

<u>Now, the future value at the end of the 20 years (8 years more):</u>

FV= PV*(1 + i)^n

FV= 59,044.79*(1.06^8)

FV= $94,108.42

4 0
3 years ago
Other questions:
  • ​DeShawn's Detailing is a service that details cars at the​ customers' homes or places of work.​ DeShawn's cost for a basic deta
    8·1 answer
  • Employers prefer to review a _____ resume when trying to find which candidate has the specific skills necessary for a designated
    5·1 answer
  • Suppose a country's annual growth rate of real gdp per capita is approximately 2%. by which year would the country double its re
    8·1 answer
  • Which form of negligence is defined as performance of an unlawful or improper act?
    5·1 answer
  • The probability that Mary will win a game is 0.03, so the probability that she will not win is 0.97. If Mary wins, she will be g
    13·1 answer
  • Marcy and Liz developed a new jewelry design. They were fortunate to get the attention of a large online retailer who was willin
    5·1 answer
  • Hale Company purchased two identical inventory items. The item purchased first cost $22.00. The item purchased second cost $25.0
    10·1 answer
  • Based on your understanding of bond ratings and bond-rating criteria, which of the following statements is true?a. During an eco
    9·1 answer
  • Sutton Enterprises makes gadgets using a two-step process that involves machining and assembly, respectively. During the period,
    8·1 answer
  • Inventory records for Marvin Company revealed the following:
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!