Answer: Income elasticity of demand for steak in cape charles is 1.16
Explanation:
Income elasticity of demand measures the responsiveness of quantity demanded to a change in consumers income. When the proportionate change in quantity demanded is less than the proportionate change in income, demand is said to be income inelastic.
Income elasticity of demand for steak in cape charles is 1.16
Direct materials and direct labor are each manufacturing prices.
Production is the production of goods through the use of labor, machinery, equipment, and biological or chemical processing or components.
As an example, bakeries, sweet stores, and custom tailors are taken into consideration in manufacturing, because they invent merchandise out of additives. alternatively, logging and mining are not considered production, because they do not change the best into a brand new product.
Production of goods in big quantities after processing from raw materials to more treasured merchandise is referred to as production. example: Paper is a product of wood, sugar from sugarcane, iron and metallic from iron ore, and aluminum from bauxite. number one goods are manufactured and emerge as completed goods.
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Answer: Rejection-then-retreat approach.
Explanation: The musical equipment salesman is using the Rejection-then-retreat approach to sell his musical items. This method is used to frighten the customers with higher priced items then make them settle for lesser priced items.
Answer:
b) are called real accounts
Explanation:
Real accounts are those accounts which are not closed at year end as like other accounts, their balances are carried forward to another period.
All the balance sheet accounts are real accounts as they do not close at year end, as there balances are carried forward to next period, whether they are assets long term or short term or whether they are liabilities, long term or short term or equity.
Thus correct option is
b) are called real accounts
Answer:
$29,850
Explanation:
The computation of the increase in net operating income is shown below:
= Increase in sales - increase in variable expenses - advertising cost
where,
Increase in sales = $89,000
Increase in variable expenses is
= $89,000 × 35%
= $31,150
And, the advertising cost is $28,000
So, the increase in operating income is
= $89,000 - $31,150 - $28,000
= $29,850