Answer:
The cost price is the price you buy a product for. You need to compare the cost price to the selling price to know whether you got a profit or loss (did you make money or did you not).
If you don't know the cost price, you don't know whether you have a profit or loss. Of course everyone wants a profit (make money) so to determine a selling price the cost price is important.
The reasoning that Bonnie is using is known as the Inductive reasoning.
Inductive reasoning refers to the type of reasoning which involves drawing of conclusion from previous set of observations on similar incidence.
- Here, Bonnie expects to receive the order tomorrow based on previous order experiences she had on the medicines supply.
Therefore, the reasoning that Bonnie is using is known as the Inductive reasoning
Read more about Inductive reasoning:
<em>brainly.com/question/8477744</em>
Answer:
The correct answer is a).
Explanation:
The income elasticity of demand refers to the percentual variation of quantity demanded of a certaing good in response to a percentual variation in income.
If the income elasticity of demand for medical care is 1.35,
<em>a. if income decreases by 1%, the quantity demanded for medical care decreases by 1.35%.</em> TRUE, this is what the definition implies.
<em>b. if the price of medical care increases by 1%, the quantity demanded for medical care decreases by 1.35%. </em>FALSE. In this elasticity, the sign is relevant. This income elasticity implies that changes in income and medical care expenses have the same sign.
<em>c. if the income of the average consumer increases by 1 dollar, the quantity demanded for medical care will increase by 1.35 units of care.</em> FALSE. The elasticity relates percentual variations, not absolute value variations.
<em>d. if income increases by 1%, the quantity demanded for medical care decreases by 1.35%.</em> FALSE. The same as point b.
Answer:
Explanation:
click on space between the middle and the edge of your graph. Then, click the drawing toolbar's 'fill color' tool and select any colour.
Answer:<em><u>The preliminary cash balance at the end of August before any loan activity is: $3700</u></em>
Given :
Cash at the beginning = $17,200
Cash receipts anticipated = $121,200
Cash disbursements anticipated = $134,700
