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3 years ago

Income elasticity measures the:____.

Business

1 answer:

larisa [96]3 years ago

8 0

Answer:

C. Responsiveness of quantity demanded to a percentage change in income.

Explanation:

Income elasticity is defined as the responsiveness of the quantity of a good demanded by an individual as his income changes, all other factors being constant.

Mathematically it is calculated as percentage change in quantity demanded divided by percentage change in income.

Income elasticity is used to find out if a good is a necessity or a luxury good.

The demand for goods that are a necessity does not change with a change in income.

However demand for a luxury good increases as income increases and vice versa

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A company sold $12,000 worth of bicycles with an extended warranty. it estimates that 2% of these sales will result in warranty

Otrada [13]

I think the answer for your question you have to divide then you get 6,000

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3 years ago

Accounts receivable turnover and days’ sales in receivables For two recent years, Robinhood Company reported the following: 20Y9

deff fn [24]

Answer:

The workings are done below;

Explanation:

20Y8 20Y9

a.Accounts Receivable Turnover *11.8 **13.4

(Net Sales/Average Receivables)

*(6,726,000/((600,000+540,000)/2)

**(7,906,000/((580,000+600,000)/2)

b. Days' sales in receivables ***30.9 ****27

(Average Receivables/Net Sales)*365

***(((600,000+540,000)/2)/6,726,000)*365

****(((580,000+600,000)/2)/7,906,000)*365

c. The 20Y9 accounts receivable turnover ratio and days' sales in receivables are better as compared to 20Y8 because it takes 27days in 20Y9 as compared to 30 days in 20Y8.Both ratios of 20Y9 are lower than 20Y8

3 0

3 years ago

Dana, who is trained as a yoga instructor, spends 4 hours on Monday baking and packing 10 boxes of cookies. She sells the cookie

mixer [17]

Answer:

$320.

Explanation: Opportunity Cost is an economic term used to describe the benefits foregone in order to satisfy another want. The opportunity cost of Dana is calculated as follows.

The hours spent baking cookies is 4hours, the amount per hour when Dana is working as a Yoga instructor is $80, total amount forgone (Opportunity Cost) of Dana when baking cookies is 4hours*$80=$320.

8 0

4 years ago

According to henry mintzberg, a management scholar, most firms do not realize their original intended strategy. group of answer

Ksivusya [100]

The statement According to henry mintzberg, a management scholar, most firms do not realize their original intended strategy is: False.

<h3>What is intend strategy?</h3>

Intend strategy can be defined as the strategy a company or an organization plan to achieve.

Most companies tend to often realize their intended strategy as this will help them to achieve their set goals and objectives.

Therefore the statement According to henry mintzberg, a management scholar, most firms do not realize their original intended strategy is: False.

Learn more about intend strategy here:brainly.com/question/23945932

#SPJ1

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2 years ago

Veneer Company has two service departments and two producing departments. The number of employees in each department is: Personn

nirvana33 [79]

Answer:

Correct option is $27,140.70

Explanation:

Provided information,

Provided number of employees in each department

Personnel 10

Cafeteria 25

Producing department A 316

Producing Department B 339

Department cost of personnel department = $52,440

Using direct method this will be allocated to Producing Departments only

A = 316 employees

B = 339 employees

Total = 655

Therefore cost allocated to Department B = $\frac{52,440}{655} \times 339 = 27,140.70$

Correct option is $27,140.70

6 0

4 years ago