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jok3333 [9.3K]
3 years ago
6

Consider the following scenarios. Determine whether each of the following would generate a substitution effect, an income (wealt

h) effect, or both. Explain (focus explicitly on changes in relative prices and/or changes in opportunities). • The price of a bag of Doritos rises by $1.00. • You receive $1000.00 from your rich uncle. • Your sister receives a 10 percent decrease in her wage.
Business
1 answer:
Mariulka [41]3 years ago
4 0

Answer:

a) subtitution effecrt as the opportunity cost for consuming Doritos increased therefore, a portion of the demand in this market will steer into other like Lays.

b) wealth effect the consumption will increase as we are given an extraordinary income

c) income effect. As the income decrease, the consumer preferences may lead to consume inferior good rather than normal good or normal goods and cut-off luxury goods.

Explanation:

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The original cost of an inventory item is below both replacement cost and net realizable value. The net realizable value less no
Tanzania [10]

Answer:

D) Original cost.

Explanation:

When the company uses the lower of cost or market method, it should assign value to its inventory by calculating the middle figure between replacement cost or net realizable value, and net realizable value - normal profit.

In this case, the market value must be either the replacement cost or the net realizable value, but both values are the highest. Since the original cost is below the market value, but above the net realizable value - normal profit, the inventory must be valued at the original cost.

4 0
3 years ago
Why would an entrepreneur be best suited to opening a new business, rather than buying an existing business or franchise?
Mariulka [41]

Answer:

For example, it's really easy to finance while buying in an existing business while starting a new one. In Addition tons of bankers and investors all around the world would feel more comfortable dealing with a business that already has had a proven track record.

Explanation:

3 0
2 years ago
What experiences have led you to choose a certain career?
Alex17521 [72]

Answer:

From a personal experience they're a lot of moments in my life that led up to my decision to choose my career. From being constantly told that I was really good at something and that I was made for this certain career path, and just influences from others who are in the same work I am in and how good they were at their job and inspiring me to be just like them. All of those together helped influence me to choose the career that I am now working hard everyday to make sure I achieve success in.

Hope this helps.

3 0
3 years ago
A company's current sales are $300,000 and fixed expenses total $225,000. The contribution margin ratio is 30%. The company has
jeka57 [31]

Answer:

$6,000

Explanation:

The net operating income will increase by $6,000;

$70,000*30%-$15,000=$6,000

As the CM ratio is 30% and $15,000 are fixed expenses,net result will be increase in net operating income.

7 0
3 years ago
All currencies are worth exactly the same.<br><br> Question 45 options:<br> True<br> False
ycow [4]

Answer:

False!

Explanation:

that's why they are different sizes, material, and weight!

Some american dollars are worth alot more than a dollar in say, mexico. Our resources are more valuable.

Glad I could help!

6 0
2 years ago
Read 2 more answers
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