Answer:
Since elasticity is 6.4, a positive figure,it is normal good and the fact that it is greater than one means it is elastic,hence option A is correct
Explanation:
The formula for income elasticity of demand is given as:
/(new quantity-old quantity)//(old price+new price)/2)/(New income-Old income)/(old income+new income)/2)
New income=$33,000
Old income=$31,900
New quantity =5 times
Old quantity=3 times
Hence=(5-3)/(3+5)/2)/(33500-31900)/(31900+33500)/2)
Elasticity=6.45
Answer:
Sales 950,000
Less: Relevant cost:
Variable expenses 380,000
Avoidable fixed manufacturing expenses 217,000
Avoidable fixed selling and administrative expenses 178,000
Contribution 175,000
The total profit of Furrow Corporation reduces by $175,000 if the product is discontinued.
Explanation:
In this question, there is need to determine contribution, which is the excess of sales over relevant costs. Relevant costs are comprised of variable cost and avoidable fixed costs. The product should not be discontinued since the contribution is positive. Deleting a product with positive contribution reduces the total profit of the company by the amount of positive contribution.
Answer:
Morally, how about we start with business morals. Extensively business morals spin around progressively the estimation of the business to investors or partners (contingent upon the type of private enterprise). In the event that redistributing work diminishes costs and converts into expanded benefits for the organization, that is sufficient to consider it in accordance with the all-encompassing order of the business whether or not there is a decrease in cost for the buyer.
Is it morally wrong to use innovative advances to build creation productivity when request in a market is generally inelastic? Cultivating used to be 40% of American employments. Presently it's generally 2% but then out creation has developed.
Long haul the pulverization of a class of business is regularly counterbalanced by the formation of another classification the requires increasingly psychological assets. Actually, whole new enterprises can be made. So it is additionally not so much exact to restrict your view to simply the individuals who are dislodged from their occupations. It is completely conceivable that the net impact on the economy is sure.
Be that as it may, again morals are increasingly emotional and have to do with the type of private enterprise to which one buys in, political way of thinking, and perspective on social duty of business.
Answer:
Please find the answer in the attached image
Explanation:
Please find attached the table used in answering this question
Marginal benefit is the change in total benefit when consumption is increased by one unit
Please find attached the image used in answering this question
Answer:
Explanation:
A This scenario describes a payroll fraud ; This is a form of fraud where an employee or an employer manipulates the payroll system in order to fraudulently receive an un earned wages.
B The employees that Connie was paying to their account that she controls are called Ghost employees. These are fictitious person put on a payroll for fraud purposes.
C The fact that it took the company 5 years to discover the fraudulent practice indicates a weak internal control environment
D
- Some of the actions that the company failed to do are
- No proper authorization in place before employees are added to payroll
- No segregation of duties as Connies appears to have been the person that add employees to payroll , approve and also disburse salary
- There has been no headcount of employees for a long time
- The entire payroll system has not been audited and reviewed for a long time
