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SpyIntel [72]
3 years ago
10

Over time, technological advance increases consumers' incomes and reduces the price of smartphones. Each of these forces increas

es the amount consumers spend on smartphones if the income elasticity of demand is greater than ________ and if the price elasticity of demand is greater than ________.a. zero, zero
b. zero, one
c. one, zero
d. one, one
Business
1 answer:
viva [34]3 years ago
7 0

Answer: The correct option is C. One, zero.

Explanation:

When income elasticity is greater than one, it indicates that the quantity demanded is greater than the rise in income.

As quantity demanded increases, it will lead to a decrease in price to the extent that the percentage change in price will outweigh the percentage change in quantity demanded, meaning that the price elasticity is greater than zero.

When these two elasticities are combined, the resulting effect will be an increase in the level of consumer spending on smartphones.

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Answer: Computer aided engineering(CAE) systems.

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If g = $800 billion, tax receipts = $850 billion, and there is an inflationary gap of $100 billion, there is?
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If g = $800 billion, tax receipts = $850 billion, and there is an inflationary gap of $100 billion, there is a budget surplus.

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Leasing a car may be a better option than buying a car
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Answer:

Date    Account titles and Explanation               Debit        Credit

Apr 1    Cash                                                        $679,900

                  Common stock                                                    $261,500

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                  Paid in common stock in excess of par             $418,400

                  (52,300*$13-$5)

            (To record common stock issued)

Apr 19   Organisation expenses                         $28,900

                  Common stock                                                     $9,000

                  (1800*5)

                  Paid in common stock in excess of par              $19,900

            (To record issuance of comm1,100on stock for attorney.s fees)

Apr 19    Cash (1,100*$6)                                      $6,600

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                  Paid in preferred capital in excess of par            $5,500

            (To record common preferred stock for cash)

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