Answer
The answer and procedures of the exercise are attached in the 2 images below.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a 2 sheets with the formulas indications.
Base salary of Alex = $5000
commission = 5.25% = 5.25/100 = 0.0525
total money he make with sales = $8000
let S is the total sales he make, then the equation becomes
$5000 + 0.0525S = $8000
0.0525S = 8000 - 5000
0.0525S = 3000
S = 3000 / 0.0525
S = 57142.8571429
if we want to confirm that our answer is right we can multiply the value of S with 0.0525 and we get $3000, and $5000 + $3000 = $8000
Answer:
Kindly check explanation
Explanation: After the verdict of the judge, as a lawyer who stood for the defendant, the lawyers would want to find a way out of the verdict such that his client could get a more favorable judgment, hence the option to appeal. However, appealing the verdict of a court also has two possible outcomes, which are either winning and getting a more favorable verdict which is avoiding the whole or part of the $50,000 fine or losing again which ultimately results in more expenses incurred during the duration of the legal suit. It could also dent the image of the business as his decision to appeal may be deemed as obstinate.
Answer:
If Jack bought 21 DVDs last year when his income was $30,000 and he buys 23 DVDs this year when his income is $35,000, then his income elasticity of demand is <u>0.571</u> which means that DVDs are a(n) <u>normal </u>good for Jack.
Explanation:
Ei = ⌂Q/Q /⌂I/I
⌂Q = 23-21 = 2
⌂I = 35000-30000 =5000
I = 30000
Q=21
Ei=⌂Q/⌂I * I/Q = 2/5000 * 30000/21 = 2*6/21 =12/21 = 0.571
The income elasticity of demand is 0.571