Answer: Option (d) is correct.
Explanation:
Here, Income elasticity of demand for burger is negative because burger is considered as inferior good for this person. There is a inverse relationship between the income of an individual and demand for a inferior good which means that as the income of a consumer increases, as a result demand for inferior good decreases whereas demand for normal good increases with increased income level. Income elasticity of demand for normal good is positive.
Answer:
Accumulated depreciation:
Year 1= 11,750
Year 2= 23,500
Explanation:
Giving the following information:
he truck is expected to have a salvage value of $11,000 at the end of its 4-year useful life. The purchase price is $58,000.
Depreciation method: straight-line.
Depreciation= (purchase price - salvage value)/ useful life
Depreciation= (58,000 - 11,000)/4= $11,750
Annual depreciation:
Year 1: $11,750
Year 2: $11,750
Accumulated depreciation:
Year 1= 11,750
Year 2= 23,500
<u>Solution:</u>
The price per variable unit is set at 1.5 times the cost; the VC / unit is estimated at $2.50.
Price = 2.5 * 2.50 = $6.25
Variable cost = $2.50
Fixed cost = $220,000
Break-Even Volume = Fixed cost / (Price - Variable cost)
= $220.000 / (6.25 - 2.50)
Break-Even Volume = 58,667 units
Price level. :) i hope that helps
Answer:
$5,000
Explanation:
Money received as scholarship and used to pay for tuition or related expenses is not included in the gross income. So the $1,000 scholarship from the Thespian Club and the $4,000 scholarship from the Elks Lodge are not taxable. The only taxable income that Henry earned is the $5,000 that he was paid for being a dorm supervisor.