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
Blizzard [7]
3 years ago
14

You and your college roommate eat three packages of Ramen noodles each week. After graduation last month, both of you were hired

at several times your college income. You still enjoy Ramen noodles very much and buy even more, but your roommate plans to buy fewer Ramen noodles in favor of foods she prefers more. When looking at income elasticity of demand for Ramen noodles, yours woulda. be negative, and your roommate's would be positive b. be positive, and your roommate's would be negative c. be zero, and your roommate's would approach infinity d. approach infinity, and your roommate's would be zero.
Business
1 answer:
My name is Ann [436]3 years ago
3 0

Answer:

yours would be positive and your roommate's would be negative.

Explanation:

Income elasticity of demand is defined as the change in quantity demanded as a result of changes in income earned by an individual. It is calculated by finding a ratio of percentage change in quantity demanded to percentage change in price.

Since there is an increase in the noodles I take with increase in income the numerator of this ratio will be positive, and the denominator will be positive indicating income increase. So the ratio will be positive.

On the other hand my roommate buys less of Ramen noodles so the numerator will be negative. The denominator will be positive to indicate increased income. The result of the income elasticity in this case will be negative.

You might be interested in
The total sales of a product, by all competitors in the industry, is:____.a. highest in the introduction stage.b. lowest in the
irina1246 [14]

Answer:

The total sales of a product, by all competitors in the industry, is:____

e. lowest in the market introduction stage.

Explanation:

The product life cycle refers to the time period when a product is first introduced to a market until it exits the market.  There are four main stages in a product life cycle.  They include introduction, growth, maturity, and decline.  It is during the introduction phase that the total sales are lowest.  The low sales are witnessed again during the latter stage of decline.   The highest sales are achieved during the maturity stage.

3 0
3 years ago
Documents in a voucher system
amid [387]

Answer: 1 E, 2 C, 3 A, 4 F, 5 D, 6 B

Explanation:

Purchase requisition - A document used by department managers to inform the purchasing department to place an order with a vendor.

Purchase order - A document used to place an order with a vendor that authorizes the vendor to ship ordered merchandise at the stated price and terms.

Invoice - An itemized statement of goods prepared by the vendor listing the customer's name, items sold, sales prices, and terms of sale.

Receiving report - A document used to notify the appropriate persons that ordered goods have arrived, including a description of the quantities and condition of the goods.

Invoice approval - A checklist of steps necessary for the approval of an invoice for recording and payment; also known as a check authorization.

Voucher - An internal file used to store documents and information to control cash disbursements and to ensure that a transaction is properly authorized and recorded.

4 0
4 years ago
List one tip someone should follow before investing their money and explain.
jok3333 [9.3K]
You should invest your money to save for future projects or maybe you need it for a life emergency.
3 0
4 years ago
Harry, a wheat farmer, is deciding whether or not to add fertilizer to his crops. If he adds 1 pound of fertilizer per acre, the
GarryVolchara [31]

harry should add $20 per pound

The method of identifying the advantages and disadvantages of various options by looking at the incremental impact on total revenue and total cost caused by a very modest change in the value or input of each alternative (just one unit). Instead of making decisions based on totals or averages, marginal analysis encourages those that focus on small or gradual changes to resources. Examining the costs and possible gains of particular business operations or financial choices is known as marginal analysis. The objective is to ascertain whether the benefits from the change in activity will be great enough to outweigh the costs.

To know more about marginal analysis refer to brainly.com/question/7412432

#SPJ4

8 0
1 year ago
Jeremy works as a member of a sales team. He never gets involved in conflicts at work. He seems to have the ability to deal with
I am Lyosha [343]
Diplomacy best describes Jeremy’s ability to interact with his co-workers.
3 0
3 years ago
Read 2 more answers
Other questions:
  • Ben attended a workshop hosted by SCORE, a SBA organization that counsels small-business owners on developing a good vision stat
    5·1 answer
  • What was one of the lessons from this activity?
    7·1 answer
  • Which of the following are generally true of all​ bonds? A. A fall in interest rates results in capital losses for bonds whose t
    8·1 answer
  • ABC Appliance offers a warranty requiring an annual fee. The warranty may be purchased at the time of sale or at any time within
    14·1 answer
  • In the world of marketing, _____ are ideas about products or services
    7·1 answer
  • You have a checking account balance of $100 and you deposit a pesonal check for $200 from your brother in your checking account.
    10·1 answer
  • Assume that banks hold no excess reserves and that all currency is deposited into the banking system. If the required reserve ra
    7·1 answer
  • During a trough: production is high. production is low. inflation is low. unemployment is low.
    8·1 answer
  • The sales returns and sales allowances accounts are classified as
    9·1 answer
  • What is the financial impact on a company when a customer returns a product for a refund?
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!