When you get hired for a well-paying job, you will most likely view older used cars as<u> inferior goods.</u>
<h3><u /></h3><h3><u>What are inferior goods?</u></h3>
As consumer income rises, customer demand declines for a class of inferior goods. Low-cost alternatives to "normal products," or necessities like food and household supplies, are frequently found in inferior goods. For instance, when someone's wage is cut, they might buy cheaper, poorer things than they would otherwise. When their earnings increases again, they're more likely to buy regular things rather than cheap ones.
The word "inferior" refers to the product's price and perceived worth rather than its quality. The quality may occasionally be inferior to an equivalent standard good, but it may also occasionally be the same. In reality, there are occasions when the only distinctions between regular goods and equal substandard goods are the packaging and price of the goods.
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Answer:
groupthink.
Explanation:
Analyzing the above information, it is correct to state that Henry, Bekah and Marcella are involved in the groupthink heuristic, which occurs when there is a group consensus regarding an idea or motivation, in favor of unanimity, without ever researching and evaluating accurately the decision, as stated in the statement in the question.
Groupthink is a phenomenon that occurs when members give up their individual opinion and agree with some suggestion from other members to avoid conflict and keep the group cohesive. This can be a negative behavior when group cohesion becomes more relevant than an opinion and constructive suggestion for the group's challenges.
Answer:
D) $116.67 per EUP
Explanation:
To find out the equivalent unit of production (EUP) for conversion costs we have to divide the total conversion costs by the equivalent units produced:
EUP conversion costs = $70,000 / 600 units = $116.67 per EUP
The EUP for direct materials would = total costs direct materials / equivalent units produced = $300,000 / 1,000 units = $300 per EUP
Both fully completed units and partially completed units are expressed in terms of equivalent units of production.
