Answer:
the fact that the higher price of Raisin Bran relative to its substitutes, such as Cheerios, causes consumers to buy less Raisin Bran.
Explanation:
the substitution effect arises when as a result of a rise in the price of a good, the good becomes more expensive relative to its substitutes. Consumers not consume less of the good and more of the substitute. This leads to a movement up along the demand curve for that goods and not a movement along the demand curve for the good and not a shift of the demand curve.
If the price of the good increases. The good becomes cheaper when compared with substitutes. As a result, the demand for the good increases while that of the substitutes decreases.
The income effect is when an increase in price lowers consumer's purchasing power, holding money income constant.
Answer:
E: a debt of $10.7 trillion and a deficit of zero.
Explanation:
Deficits are usually financed by debt. Here the government has incurred an extra debt of $700 billion. The previous debt of $10 trillion may have been due to any reason and not necessarily deficit. However, the passage does not state if the extra debt is due to deficit or not. So it is safe to select option E.
Hence, the government has incurred a total debt of $10.7 trillion and a deficit of zero.
Answer:
Joint Tenancy
Explanation:
Each tenant was given an equal share.
The conveyance deed was completed on a specific date passing all the land fairly to all tenants.
The Hera, Aphrodite, Athena and Ares also bear the title of Mutual Tenancy as Zeus transmitted Mount Olympus to them.
Therefore the correct option is Joint Tenancy and the same is to be considered
2) as opinions should be left out of factual articles and credible sources
Answer:
The answer is: The ending balance in Finished Goods Inventory is $1,200
Explanation:
First we have to calculate the cost per chair produced, to do this we will find the total cost and divide by the number of chairs produced:
Units produced 100 chairs
- Direct materials $10 per unit x 100 = $1,000
- Direct labor 15 per unit x 100 = $1,500
- Variable manufacturing overhead 3 per unit x 100 = $300
- Total fixed manufacturing overhead $2,000
Total costs are $4,800 / 100 chairs = $48 per chair produced
There are 25 chairs left in finished goods inventory (FGI) = 100 - 75 = 25
The ending balance in FGI is = 25 chairs x $48 per chair = $1,200
