Answer:
The income effect and substitution effect work in opposite directions and income effect is dominant.
Explanation:
In case of a normal good, both the income effect as well as substitution effect work in the same direction. A fall in the price of a product will increase the purchasing power of the consumer so its quantity demanded will increase.
The consumers will also prefer the cheaper good so the substitution effect will cause the quantity demanded to increase.
In case of an inferior good, however, income elasticity is negative. The income effect and substitution effect work in opposite directions.
A price decrease in the case of an inferior good will increase the real income and purchasing power of the consumer. This will cause the quantity demanded of the inferior good to decline as the consumer will prefer a substitute normal good.
Answer:
Ending WIP= $13,500
Explanation:
<u>First, we need to calculate the factory overhead:</u>
Factory overhead= 25,000*0.75= $18,750
<u>Now, the ending WIP inventory:</u>
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
68,250 = 11,000 + 27,000 + 25,000 + 18,750 - Ending WIP
Ending WIP= $13,500
Explanation:
The correction of error is shown below:-
Expense of decrease delivery and cash by $9.
Therefore, to correct this error, which affect the cash is undercharged and delivery expenses to be overcharged. So, the company will decrease the delivery expenses and increase cash by $9, it came by deducting the 45 from $54 and recorded amount is 54.
Answer:
A) increases its connectivity with people and organizations in other parts of the world.
Explanation:
deep-level diversity which can be regarded as task-related diversity is
less observable as well as deeper-leveled attributes which could be
attitudes, functional expertise and personality. In the case above, If Roberto wants to study deep-level diversity in his organization, he should increases its connectivity with people and organizations in other parts of the world.
