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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.

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The checkbook of Vance Company had a balance of $2,210.55. The bank statement showed a balance of $4,918.18. The bank collected
Vikentia [17]

Answer:

$4,332.89

Explanation:

The adjusted reconciled checkbook balance will include:

    checkbook balance                                         $2,210.55

    + bank collect note                                         $2,000.00

    - fee for collecting the note                                 ($5.00)

    + earned interest                                                  $42.33

    + difference in recording a check $400 - $300 = $100

   <u> - banking service charge                                   ($14.99)  </u>

    total =                                                              $4,332.89

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steposvetlana [31]

Answer:

My dream business is organic poultry farming.

Explanation:

It is my hobby to have different types of hen breeds. So I would like to invest in my hobby. I would like to have breeds of organic hens that will lay more eggs. I will also invest in fancy chickens which are widely used as pet in backyards.

It has great potential for growth, as people are nowadays moving towards organic foods. The organic poultry market has grown from $7.5 billions to $7.7 billions from 2019 to 2020. The growth recorded is almost 2% despite the breakout of virus. People would like to buy fancy chickens as pets because they lay eggs and look cute in the backyards.

The return on fancy chicken breed is much higher than an ordinary chicken breed that only lays egg. I will start from 1500 baby chickens and will around 50 chicken tractors in a large 8 kanal area. This chicken tractors will help me to keep the death rate of the chickens low and are helpful in lowering the spread of diseases. Furthermore, it is moveable which means my chickens will have fresh grass to eat.

I will buy a small van that will be helpful in managing the delivery of food requirement and egg supply to my customers. To lower the cost of organic feed I will grow many types of plants, herbs, grass, etc in the 8 kanal area that will meet the protien requirements of the chickens. I will also water the land daily so that the waste of the chickens are accessed very quickly to plants.

Their many other tactics that could be used like leasing the land for 2 years because it will lower the investment required, plantation of plants that will grow its value over time, use of thick sheets that will protect chickens from and use of thin sheet that will protect them from mosquitos, etc.

<em>Note:</em> <u>I wasn't able to access complete questions so I think the above explanation of business idea will be very helpful for you to construct a business plan.</u>

If you find the answer very helpful then don't forget to rate it. Thanks

6 0
3 years ago
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