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dybincka [34]
3 years ago
6

SCENARIO 3.1: Rented DVDs and movies shown in theaters are substitutes. Rented DVDs and plasma TVs are complements. Plasma TVs a

nd movies shown in theaters are normal goods. People watch rented DVDs more often in the winter than in the summer.
Refer to Scenario 3.1. Most plasma TVs sold in the United States are imported from Japan. If the United States government reduces the number of plasma TVs that can be imported into the United States, ceteris paribus, what would happen?
Business
1 answer:
EleoNora [17]3 years ago
4 0

Answer:

What would happen is Price of TVs goes up and price of rental DVDs goes down. Subsequently, price of movies theaters rises.

Explanation:

As there are less import of Plasma TV from Japan, the supply will be lower, while demand remains unchanged. So, price of Plasma TV will go up following is the demand for plasma TV will go down

As Plasma TV and rental DVDs are complementary goods, downward in demand for plasma TV means less demand for rental DVDs while supplies for rental DVD remains the same. Thus, price of rental DVD will go down.

As rental DVD and movies theaters are substitute goods, the demand in rental DVD going down will cause the increase in the demand in movie theaters while supplies for movie theaters stay the same. So, movie theater ticket will go up subsequently.

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Customers have a defined ________ when it comes to waiting in line at a retail checkout counter. The amount of time consumers ar
balu736 [363]

Answer:

The correct answer to the given above question is Zone of tolerance.

Explanation:

Zone of tolerance in simpler terms can be defined as the difference between a consumers desired level of service and the level of service a consumer considers adequate. This zone consists a range of various service performance that a consumer considers to be satisfactory. We can see this zone of tolerance when a consumer will stand in a line at a retail store , a consumer would be willing wait longer in the line if he or she thinks that product or service is valuable or a necessity to him and the waiting time would also depend on the type of store it is.

6 0
3 years ago
Read 2 more answers
You own a house near the beach. Your Home Owners insurance has an annual premium of $1,250. However,since you live only 112 feet
vampirchik [111]

Answer:

1,437.50

Explanation:

6 0
3 years ago
Suppose the countries of Iceland and Norway set up a free trade area, eliminating all trade barriers between themselves but main
geniusboy [140]

Answer:

Trade Bloc

Explanation:

Trade Bloc is a type of agreement between two sovereign nations in which barriers to trade are either reduced or totally eliminated between the two nations. This type of agreement can either be one agreement between several nations or a part of a regional organization.

So, the example of Iceland and Norway is an example of a trade bloc.

8 0
3 years ago
According to the course materials, budgeting should be: a. Rigid with significant personal penalties if you miss your goal b. Ab
gavmur [86]

Answer:

C) Flexible

Explanation:

The whole concept behind budgeting is that future costs are estimated. As always when you estimate some future event, there is a fair chance that your estimate will be mistaken.

No matter how well thought, calculated and recalculated your budget is, it usually only serve as a parameter. The fact that budgeting is not exact is not always bad, since your business sales can be higher than expected, so your whole production and costs budgets will be wrong, but for a good reason.

That is why budgets must always be flexible and easily adaptable to changes, either good or bad changes.

4 0
3 years ago
dentify (by letter) each of the following characteristics as being an advantage, a disadvantage, or not applicable to the corpor
belka [17]

Answer:

1. Separate legal entity ⇒ ADVANTAGE

This is an advantage because it means that the owners are not liable for the actions of the company. If the company goes bankrupt for instance, they will not have to pay for it with their own finances.

2. Taxable entity resulting in additional taxes ⇒ DISADVANTAGE

Anything that results in corporations having to pay more taxes is disadvantageous from their point of view.

3. Continuous life ⇒ ADVANTAGE

This is an advantage because it makes accounting for the company easier as well as giving investors more stability in their planning.

4. Unlimited liability of owners ⇒ NOT APPICABLE.

This is not applicable to Corporate ownership but rather to sole proprietorship.

5. Government regulation ⇒ BOTH ADVANTAGE AND DISADVANTAGE

This can be both an advantage and a disadvantage. On the one hand, it can lead to the industry functioning effectively but on the other hand, it could stifle growth with restrictive policies.

6. Separation of ownership and management ⇒ DISADVANTAGE

This is a disadvantage because it gives rise to the Agency problem where management might try to act in their own best interests instead of that of the owners.

7. Ability to acquire capital ⇒ ADVANTAGE

Corporations are better able to acquire capital which is good because it means that they will be able to invest and embark on more projects.

8. Ease of transfer of ownership ⇒ ADVANTAGE

Owners of corporations especially the public ones, are able to transfer ownership quite easily to others through the sale of shares.

6 0
3 years ago
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