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If a firm sells a prestige product, what kind of relationship between price and quantity demanded should it expect?.

solmaris [256]

For a firm that sells a prestige product, the relationship between price and quantity demanded is a positive direct relationship.

<h3>Why is the relationship between demand and price of prestige products direct?</h3>

The relationship between the demand and price of prestige products is direct because prestige products tend to sell better at high prices than at low prices.

And when the quantity demanded increases, the price tends to increase.

An example of a prestige product is an old car.

Thus, for a firm that sells a prestige product, the relationship between price and quantity demanded is a positive direct relationship.

Learn more about the demand for prestige products at brainly.com/question/6374886

3 0

2 years ago

The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold $ 159,000 Income Tax

Kryger [21]

Answer:

Income Statement is attached in the pictures.

Explanation:

5 0

3 years ago

Select the correct answer from each drop-down menu. What is the basis for the calculation of interest payable by various financi

arlik [135]

Answer:

The interest payable is calculated based on the principal, interest rate, number of years of the loan or of the deposit.

Explanation:

Financial institutions is a company or a firm that deals with financial and monetary activities such as; loans, deposits, investments and currency exchange. Most financial transactions especially loans and savings usually have an interest rate that is set by the financial institution. The amount of interest can be paid by the borrower in a case where an individual takes a loan from the financial institution. Interest can also be paid by the financial institution in a case where the individual or group opens a savings account with the financial institution. In both cases, the interest rate is set by the financial institution. The amount of interest payable can be determined using the formula below;

A=PRT

where;

A=amount of interest payable

P=principle amount. The principal amount can either be the loan amount or the savings deposit amount

R=interest rate

T=number of years

The interest payable is calculated based on the principal, interest rate, number of years of the loan or of the deposit.

3 0

3 years ago

Compass Inc. purchased 1250 bags of insulation, on account, from Glassco Inc. The bags of insulation cost $5.50 each. Compass pa

Alina [70]

Solution and Explanation:

Journal entry to record the purchase the bags of insultaion.

Date Particulars Debit Credit

Inventory $6875

accounts payable $6875

(Purchased insulated bags from Glassco Inc., 1250bags at the rate $5.5 each)

entry to record the payment for shipping

Inventory $320

cash $320

( paid shipping charges for bags to warehouse)

entry for return of the defective bags

accounts payable $275

Inventory $275

( returned defective bags to glassco Inc)

To record the payment for the bags kept by compass.

Accounts payable $6600

cash $6600

( payment for remaining bags to Glassco Inc., )

4 0

3 years ago

Flesch corporation produces and sells two products. in the most recent month, product c90b had sales of $26,100 and variable exp

julia-pushkina [17]

Flesch Corporation produces and sells two products, in case if there is any shift in the sales from product Y45E to C90B, then the breakeven will also decrease, since the contribution margin for Product C90B is less than the Product Y45E.

Contribution Margin: Total Contribution ÷ Total Sales

Product C90B:

=(26100-9135) ÷ 26100

= 35%

Product Y45E:

= (33540-15093) ÷ 33540

= 45%

Since the contribution margin of Product C90B < Product Y45E, the breakeven will decrease.

5 0

3 years ago