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inna [77]
3 years ago
11

When the price of good A rises from ​$11 to ​$33​, the quantity of good A demanded decreases from 400400 to 200200 units a day a

nd the quantity of good C demanded increases from 150150 to 250250 units a day. From this​ information, we can determine that​ _______. A. the cross elasticity of demand is​ positive, so the two goods are substitutes B. the goods are complements because as the price of good A changes so does the quantity demanded of good C C. the cross elasticity of demand is less than​ 1, so the two goods are substitutes D. good C is a normal good because as the price of good A​ rises, people switch to good C

Business
1 answer:
Novay_Z [31]3 years ago
6 0

Answer:

The correct answer is option A.

Explanation:

The price of good A is initially at $11.

The initial demand of A  is 400 units.

The price increases to $33.

The demand of A , as a result, falls to 200 units.

The demand for good C is initially at 150 units.

With increase in price of A, the demand rises to 250 units.

The positive cross elasticity as given in the figure represents that the two goods are substitutes. When price of A increases, consumer will prefer its cheaper substitute. So, the demand for good C will increase.

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6 0
1 year ago
Identify some common miscellaneous itemized deductions and identify any limitations that are imposed on the deductibility of the
a_sh-v [17]

Answer:

The answer is below

Explanation:

Itemized deductions is an auditing or accounting terms, that  describes the various expenses that are deducted from the adjusted gross income to reduce the taxable income of an individual or the corporations. For example, job search expenses, mileage expenses, charitable expenses, and etc.

Some common miscellaneous itemized deductions are:

1.  Job search expenses: these are deductible from Adjusted Gross Income (AGI) such as travel expenses, resume preparation costs, moving costs, etc.

2.  Mileage expenses: mileage expenses is allowed by Internal Revenue Services (IRS) to be deducted from Adjusted Gross Income (AGI) for example; payments, repairs, insurance, etc.

3.  Charitable expenses: Charitable expenses are also eligible to deduct from Adjusted Gross Income (AGI) e.g. charitable gifts, donations, etc.

Limitations imposed on items which are deductible

Regardless, if it is job search expenses, mileage expenses, or charitable expenses, all are deductible if they are eligible for the deduction, and according to the IRS, the eligibility criteria are that all the expenses must exceed the 2% of AGI (Adjusted gross income).

Cases in which medical expenses are not deductible

Given that an individual or company pay the amount of medical expenses from their pocket, not from the business cost, hence, in this case, medical insurance is not deductible from the AGI.

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3 years ago
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Art [367]
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Answer:

Please see attachment

Explanation:

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6 0
3 years ago
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Answer:

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