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3 years ago

Answers for question 11!!!!

Business

1 answer:

Kitty [74]3 years ago

3 0

Answer:

C!!

Explanation:

Two Major Types of Markets • Consumer Market -- All the individuals or households that want goods and services for personal use and have the resources to buy them. Business-to-Business (B2B) -- Individuals and organizations that buy goods and services to use in production or to sell, rent, or supply to others.

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The income elasticity of demand for peanut butter is 0.1. From this, we know that peanut butter is a(n) __________ because _____

musickatia [10]

Answer:

Option B:

inferior good; elasticity is negative

Explanation:

The income elasticity of demand is a measure of the rate at which a particular commodity is demanded, even after there is a change in the real income of the consumers.

It is a known fact that for inferior goods, once the real income of the consumers increases there is a higher tendency for them to switch to other premium commodities. Such goods are said to have a negative elasticity.

The income elasticity of demand can be calculated with this formula

percentage change in quantity demanded / percentage change in income.

If this gives a value that is less than 1, it means that the percentage change in the quantity of goods demanded is actually less than the percentage change in the income level of the consumers. Hence, the good is an inferior good. This is because when the consumers are earning more, they buy less of the product.

6 0

3 years ago

Ivanhoe Diesel owns the Fredonia Barber Shop. He employs 5 barbers and pays each a base rate of $1,380 per month. One of the bar

ANTONII [103]

Answer:

Fredonia Barber Shop

a. Variable costs per haircut = $4.40

Total monthly fixed costs = $8,910

b. Break-even point in units = 1,350

Break-even point in sales dollars = $14,850

Net income with 1,670 haircuts = $2,120

Explanation:

a) Data and Calculations:

Fixed costs:

Wages of barbers per month = $6,900 ($1,380 * 5)

Manager's allowance per month = $535

Advertising per month = $270

Rent per month = $1,010

Utilities per month = $160

Magazines per month = $35

Total fixed costs per month = $8,910

Ivanhoe currently charges $11 per haircut.

Variable costs per haircut:

Commission per haircut = $3.75

Barber supplies per haircut = $0.50

Utilities per haircut = $0.15

Total variable costs per unit $4.40

Contribution margin per haircut = $6.60 ($11 - $4.40)

Contribution margin ratio = 0.6

Break-even point in units = $8,910/$6.60 = 1,350

Break-even point in sales dollars = $8,910/0.6 = $14,850

Net income assuming 1,670 haircuts for a month:

Sales revenue = $18,370 ($11 * 1,670)

Variable costs = 7,340 ($4.40 * 1,670)

Contribution $11,030

Fixed costs 8,910

Net income $2,120

8 0

3 years ago

Introverts recharge their energy in large groups.

viktelen [127]

The answer is false. introverts recharge their energy by themselves

3 0

3 years ago

An increase in u. S. Interest rates relative to german interest rates would likely ____ the u. S. Demand for euros and ____ the

Naya [18.7K]

An increase in US. Interest rates relative to German interest rates would likely reduce the u. S. Demand for euros and increase the supply of euros for sale.

<h3>What is the impact of an increase in interest rate on a country's currency?</h3>

When the interest rate of a country's currency increases, the value of that currency increases. As a result, there would be an increase in the demand for that currency relative to other currencies.

When the US interest rates increase relative to that of Germany, the value of the dollar would increase. This would lead to an increase in the demand for the dollar and a decrease in demand for the euros.

To learn more about currencies, please check: brainly.com/question/17180334

6 0

2 years ago

A company: purchased 100 units for $20 each on January 31, purchased 100 units for $30 on February 28, and sold 150 units for $4

igomit [66]

Answer:

Ending inventory as at 31 December = $1500

Explanation:

First-In-First-Out is a method of inventory valuation whereby the stock that comes in first, is used first. This is common for inventory consisting of perishables, such as vegetables where if not used/sold soon, it would be wasted.

Jan 31: Purchases = $20 x 100 units = $2000

Remaining inventory:

$20 x 100 units = $2000

Feb 28: Purchases = $30 x 100 units = $3000

Remaining inventory:

$20 x 100 units = $2000

$30 x 100 units = $3000

Sales = 150 units x $45:

$20 x 100 units = $2000

$30 x 50 units = $1500

Remaining inventory

200 - 150 = 50 units x $30 = $1500

Thus,

Cost of Goods Sold = $3500 ($2000 + $1500)

Ending inventory as at 31 December = $1500

3 0

3 years ago