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
OLga [1]
3 years ago
9

Which of the following illustrates the law of demand? a. Jorge buys fewer pencils at $2 per pencil than at $1 per pencil, ceteri

s paribus. b. Chen buys more ice cream at $4 per half-gallon than at $3 per half gallon, ceteris paribus. c. Karissa buys fewer sweaters at $50 each than at $35 each, ceteris paribus. d. a, b, and c e. a and c

Business
1 answer:
iVinArrow [24]3 years ago
4 0

Answer:

e. a and c

Explanation:

The law of demand states that the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. This occurs because of the law of diminishing marginal utility.

The law of diminishing marginal utility states that the more of a commodity is consumed, the lower the utility derived from the consumption of the product.

It follows that Jorge and karissa would demand less of pencils and sweaters as their prices rise.

The demand curve is usually downward sloping to illustrate the law of demand.

You might be interested in
Describe what an insurance company does and sells without using the word insurance
Crank
If something goes wrong, the company will make sure you're not completely screwed.
8 0
3 years ago
A fast-food restaurant featuring hamburgers is adding salads to the menu The price to the customer will be the same Fixed costs
Colt1911 [192]

Answer:

$19200

Explanation:

This breakeven point can be calculated as under:

Breakeven Quantity = (Fixed Cost - Additional F. Cost) / (Selling Price - Variable Cost per unit)

Here

Fixed cost = $12,000

Variable Cost = $1.5 per unit

Selling Price = $2 per unit

Additional Fixed Cost = $2,400

By putting Values:

Breakeven Quantity = ($12,000 - $2,400) / ($2 - $1.5)

Breakeven Point = 19,200

7 0
2 years ago
Name three rules for creating an effective presentation to summarize a pi team's activities
anyanavicka [17]
In order to <span>create an effective presentation to summarize a PI team's activities PI team members should u</span><span>se large fonts in the presentation so that people can read the boards from a distance.
Also they should map the board in advance with labels for each section. 
 And third, the presentation should keep detailed information in a team record binder for reference.
</span>
6 0
3 years ago
Under the liability provisions of section 11 of the Securities Act of 1933, auditors may be liable to any purchaser of a securit
qaws [65]

Answer:

b) If auditors can demonstrate due diligence.

Explanation:

Under the liability provisions of section 11 of the Securities Act of 1933, auditors may be liable to any purchaser of a security for certifying materially misstated financial statements that are included in the registration statement. Under section 11, auditors usually will not be liable to the purchaser if auditors can demonstrate due diligence.

Section 11 of the Securities Act of 1933, 15 U.S.C. § 77k (1988), provides investors with the ability to hold issuers and others liable for any damage incurred and caused by false statements of fact or even material omissions of fact within registration statements as at when effective.

The Securities Act of 1933 was used to regulate the stock market as the first federal legislation. With this act, power was given to the federal government and taken away from the state governments.

Hence, the Securities Act of 1933 is used to protect investors from frauds by creating a set of standard rules.

In conclusion, auditors usually will not be liable to the purchaser if auditors can demonstrate due diligence in their services and responsibilities.

5 0
3 years ago
A company reports the following: Sales $4,560,000 Average accounts receivable (net) 380,000 Determine (a) the accounts receivabl
puteri [66]

Answer:

a. 12 times

b. 30.42 days

Explanation:

Data provided in the question

Sales = $4,560,000

Average account receivable = $380,000

So, The computation is shown below:

a. Account receivable turnover ratio is

= Sales ÷ average account receivable (net)

= $4,560,000 ÷ $380,000

= 12 times

b. Now the number of days sales in receivable is

= Total number of days in a year ÷ account receivable turnover ratio

= 365 days ÷ 12 times

= 30.42 days

4 0
3 years ago
Other questions:
  • A home improvement firm has quoted a price of? $9,800 to fix up? eric's backyard. five years? ago, eric put? $7,500 into a home
    13·1 answer
  • Suppose that Walgreens (a major drug store chain) wants to introduce its own brand of cough medicine that is similar in contents
    10·1 answer
  • Jamison Company developed the following reconciling information in preparing its June bank reconciliation: Cash balance per bank
    12·1 answer
  • Which of the following systems would work best for a very standardized product that has a fairly high and predictable demand? a.
    13·1 answer
  • Luke is the owner of Fun Times, a U.S. event-planning company. He plans to open an event-planning company, Events &amp; Adventur
    5·1 answer
  • Bryon operates a consulting business and he usually works alone. However, during the summer Bryon will sometimes hire undergradu
    13·1 answer
  • Zurasky Corporation is considering two alternatives: A and B. Costs associated with the alternatives are listed below: Alternati
    10·1 answer
  • Tayahin
    8·1 answer
  • New shoes are on SALE. You find a pair you like for $85 dollars. But you only have $45 with you. So, you pay $40 and charge the
    8·2 answers
  • a company has sales of $119,000; cost of goods sold of $74,870; and total direct expenses of $8,620. the department’ contributio
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!