Answer: Option (a) is correct.
Explanation:
Income elasticity of demand measures the responsiveness of quantity demanded with change in the income level of an individual.

Income of an individual has a positive relationship with the demand for normal goods and has a negative relationship with the demand for inferior goods.
Answer:
$20,880
Explanation:
Under the direct method we ignore services that are provided to the other service departments.
In order to allocate the building operation costs to Operating department A, we need to determine what percentage of the building space taken up by Operating departments is used by Operation Department A.
There is a total of 50000 square feet and Operating Department A occupies 60%(30000/50000 of that.
So Operating Department A will get 60% of the building costs
i.e., 60% × 34800 = 20,880
<span>Inez is still obligated to accept delivery of the boat because it is still the boat that she contracted out and built to the specifications that she requested. Just because it was contracted out to another company doesn't mean that she didn't get what she wanted for the price she wanted. If she didn't have a specific design then she might have an argument, however she did and it was built to that design specs.</span>
Answer:
Perfect competition is an ideal type of market structure where all producers and consumers have full and symmetric information, no transaction costs, where there are a large number of producers and consumers competing with one another. Perfect competition is theoretically the opposite of a monopolistic market.
Explanation:
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Answer:
$0.40 ; $1 and $71.43%
Explanation:
The computation is shown below:
Excess cost is
= Unit cost - Salvage Value
= $1 - $0.60
= $0.40
The shortage cost is
= Selling value - unit cost
= $2 - $1
= $1
And, the optimal service level is
= Shortage cost ÷ (Shortage cost + excess cost)
= $1 ÷ $1.60
= 71.43%
Basically we applied the above formulas