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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.

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If budgeted beginning inventory is $9,150, budgeted ending inventory is $10,420, and budgeted cost of goods sold is $11,110, bud
vekshin1

Answer:

$12,380

Explanation:

The beginning inventory is $9,150

The budgeted ending inventory is $10,420

The cost of goods sold is $11110

Therefore the budgeted purchases can be calculated as follows

= $10,420 + $11,110-$9,150

= $21,530 - $9,150

= $12,380

Hence the budgeted purchases is $12,380

7 0
3 years ago
Cassidy Manufacturing Corporation has a traditional costing system in which it applies manufacturing overhead to its products us
Studentka2010 [4]

Answer:

Answer is option B $68.70

Total overhead costs

Assembling products (918000/54000)*3000.......510,000

Preparing batches (397440/2484)*1026.............164160

Product support (1134000/3780)*1188.............. 356400

Total overhead costs............................................ 1030560

Unit overhead cost = total overhead costs / number of units = 1030560/15000 = 68.70

Explanation:

6 0
2 years ago
5. Destiny is asked if she wants to open a Macy's credit card on the spot when she is checking out.
Zielflug [23.3K]
B because is B I now it is
5 0
3 years ago
Select which government was granted each of the powers listed. Coining of money Fire and police protection Schools Army and Navy
Rashid [163]

Answer:

  1. Coining of money: FEDERAL GOVERNMENT
  2. Fire and police protection: STATE GOVERNMENT
  3. Schools: STATE GOVERNMENT
  4. Army and Navy: FEDERAL GOVERNMENT
  5. Treaties with other nations : FEDERAL GOVERNMENT
  6. Highways and roads: STATE GOVERNMENT
  7. Local courts: STATE GOVERNMENT

3 0
3 years ago
A random sample of 160 households is selected to estimate the mean amount spent on electric service. A 95% confidence interval w
Yuri [45]

Answer:

Option D. We are 95% confident that the mean amount spent on electric service among the 160 households is between $151 and $216.

Explanation:

A confidence interval is a range of values, derived from the sample statistics, which may include the value of an unknown population parameter.

A 95% confidence interval indicates that between 152 of 160 samples (95%) of the same population will produce confidence intervals that will contain the population parameter.

It also means that we have a 95% confidence that the average (average amount) is among the resulting amounts obtained.

Logically, option "D" is missing the final part. This would be: D. We are 95% confident that the mean amount spent on electric service among the 160 households is between $ 15.

This is the only true option, since the test is based on a sample of only 160 households, the entire population of households cannot be included.

Hence, the correct option is:

Option D. We are 95% confident that the mean amount spent on electric service among the 160 households is between $151 and $216.

7 0
3 years ago
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