An increase in the price of coffee beans can be expected to increase the demand for pie.
So, in the market if the price of coffee beans increases, quantity demanded for coffee will decrease. As, the coffee in turn is a complement to pie the consumers using coffee will now shift themselves to pie, unless the price decreases for coffee. Thus, the demand for pie is expected to increase now.
Several events could lead to such a change, an increase in population , an increase in incomes, or an increase in the price likely to increase the quantity of coffee demanded at each price.
Hence, this represents the Law of Demand.
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Answer:
we need to calculate the GDP per capita
Explanation:
gross domestic product (GDP) per capita is calculated by dividing nominal GDP by the total population of a country.
Or you can calculate real GDP per capita = real GDP / total population
The World Bank also uses another method for comparing GDP per capita between different countries and it is the purchasing power parity (PPP) which uses the US dollar as the base currency for the world and then calculates the amount of goods that you could purchase in US dollars. This is done to reduce differences in costs between poor and rich countries, e.g. a small house in Switzerland costs hundreds of thousands of US dollars, while a similar small house in Paraguay costs 20-30 thousand US dollars.
Answer:
Change in profit is Nil
Explanation:
<em>To determine whether to outsource the production of product X or not, we would compare the variable cost internal production to the external</em> <em>purchase price. And then adjust the net figure for the fixed costs.
</em>
<em>For a make or buy decision the relevant cash flows include </em>
1. the differential variable cost of the two options
2. savings from avoidable fixed costs associated with internal production
$
Variable cost internal production (2+7+5) 14
External buy in price <u>12</u>
Savings per unit of bought from outside <u> 2 </u>
Savings on 1000 units (2× 1,000) 2,000
Unavoidable fixed cost (2 × 1,000) <u> (2,000)</u>
Net change in profit <u> Nil </u>
<em>Note we assume that the fixed overhead is unavoidable. That is it will still be incurred whether or the product is outsourced </em>
The statement is <u>false</u>.
Job shops are usually small manufacturing structures that manage task manufacturing, this is, custom/bespoke or semi-custom/bespoke production processes consisting of small to medium-length consumer orders or batch jobs. activity shops commonly pass directly to one-of-a-kind jobs (probable with extraordinary clients) while every job is finished.
Job shops are usually corporations that perform custom parts production for different organizations. but, examples of task stores consist of a huge variety of businesses—a system device shop, a machining middle, a paint shop, an industrial printing keep, and different producers that make custom merchandise in small lot sizes.
A small business that makes an unmarried product or a small quantity of a product for one purchaser at a time: people who paint in activity shops are usually multi-skilled due to the fact the paintings call for it.
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Answer and Explanation:
The correct journal entry to record the impact of this tax rate change is shown Below:
Income Tax Expense $5,000
To Deferred Tax Assets $5,000
(being the income tax expense is recorded)
here the income tax expense is debited as it increased the expense and credited the deferred tax assets
So, the same should be considered