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
Serhud [2]
2 years ago
8

Arista always spends 10 % of her income on gizmos. Assume that her income increases by some percentage while the price of gizmos

remains constant (and that all gizmos cost the same). What is her income elasticity of demand for gizmos?
Business
1 answer:
lina2011 [118]2 years ago
3 0

Answer:

1

Explanation:

Income elasticity is how the quantity demanded of a product changes due to a change in the income of an individual.

The formula for calculating Income elasticity of demand is, percentage change in quantity demanded divided by the percentage change in income.

Here the income of Arista increases but the price of gizmos remains the same, that is why the 10% now will be more than what it used to be before the increase in income.

Hope this helps. Good luck.

You might be interested in
If a perfectly competitive firm and a single-price monopolist face the same demand and cost curves, then the competitive firm wi
Rudik [331]

Answer:

a

Explanation:

greater output and charge lower price than the monopolist

7 0
3 years ago
Gene is a self-employed taxpayer working from his home. His net business profit is $7,000 before home office expenses. His alloc
anyanavicka [17]

Answer:

D) Only $7,000 of the office expenses can be deducted; the remaining $1,000 can be carried forward to future tax years.

Explanation:

Since Gene's profit before home expenses is only $7,000, he can only deduct up to $7,000 for this year. That way his net profit will be $0. The remaining $1,000 must be carried forward so that he can use them in the future, probably next year he will add them to his deductions. If a business losses money, the government pay you anything, taxes only work one way, you have to pay.

3 0
3 years ago
A weaker dollar benefits_______and hurts______.
oksian1 [2.3K]

Answer:

C. American businesses; American consumers.

Explanation:

Currently so many businesses of America are overseas, approximately 40%.

Now when the dollar turns weak these businesses are benefited in a manner that is the buyers needs to pay more for such deals.

Further with this as the buyers needs to pay more, even in the country the imported goods turns expensive as dollars decrease their value.

Accordingly, it is the american business man who gets benefited with weaker dollar, and the american consumer has to pay more for this.

4 0
3 years ago
A ____ is a source of revenue flowing into the firm.
diamong [38]
The answer is revenue stream.
3 0
2 years ago
The signing of the project portfolio statement signals the transition from the high-level project initiating stage into the more
OLga [1]

Answer:

False

Explanation:

Signing a project charter rarther than project portfolio signal the trasition of a project from high level initiating phse into a more detailed project planning stage.

cheers.

5 0
3 years ago
Other questions:
  • Suppose the country of Lilliput exported 263 billion dollars worth of goods while they imported 477 billion dollars worth of goo
    11·1 answer
  • Which university founded the survey research center and is now the academic center for all sorts of polling?
    15·1 answer
  • When there is a shortage in a market, price will tend to ; and when there is a surplus in a market, price will tend to . Equilib
    8·1 answer
  • A limited partnership account is being opened at your firm. The general partner has provided the partnership tax identification
    8·1 answer
  • Which best describes which careers would work in offices? O Marketing Information Management and Research, Distribution and Logi
    15·2 answers
  • Which of the main components of money management involves creating a plan for spending and saving during particular time periods
    12·1 answer
  • pidgins can best be described as a second language used for restrictive purposes such as trade. True False
    6·1 answer
  • 6. Respirators must be certified by the National Institute for Occupational Safety and Health, or NIOSH, and used in compliance
    9·2 answers
  • Question 8 of 10
    9·2 answers
  • Ngày 1/9/N, doanh nghiệp mua một lô hàng X, giá mua trên hóa đơn: 50.000. Giá cước vận chuyển lô hàng này về kho: 6.000; chi phí
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!