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Pie
2 years ago
13

Suppose that Jim uses his budget to purchase 100 units of Good X and 100 units of Good Y. When the price of Good X rises, he pur

chases 70 units of Good X and 95 units of Good Y. An economist calculates his compensated budget and finds that in that scenario, Jim would buy 80 units of Good X and 105 units of Good Y.
Required:
Calculate the income effect
Business
1 answer:
Ronch [10]2 years ago
8 0

Answer:

the income effect is -10

Explanation:

The computation of the income effect is given below:

The income effect is

= final demand - compensated demand

= 70 - 80

= -10

hence, the income effect is -10

We applied the above formula to determined the income effect

hence, the same is to be considered

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LO 2.1Which of the following represents the components of the income statement for a manufacturing business?
Gennadij [26K]

Answer:

Sales Revenue – Cost of Goods Sold = gross profit

Explanation:

In order to determine the income statement components, the following component is shown

Gross profit = Sales revenue - the cost of goods sold

where,

Sales revenue represents the sales of the business organization

And, the cost of goods sold would be

= Opening inventory + Purchase - ending inventory

By deducting the cost of goods sold from the sales revenue the gross profit can arrive

6 0
3 years ago
Suppose only two countries existed in the world. Country A imported $200 million worth of goods and services from Country B. Cou
tigry1 [53]

Answer:

C. Country A equals –$100 million.

Explanation:

Imports from Country B to Country A = $200 million

Imports from Country A to Country B = $100 million

Imports for one country represents exports to another.

Net exports is the difference between exports and import for a country.

Net exports for country A = $100 million - $200 million = - $100 million

Net exports for country B = $200 million - $100 million = $100 million

Right option is C. Country A equals –$100 million. Country's A export is less than it's import.

6 0
3 years ago
In response to the new employee end of shift policy Brianna proposes that Ollie pay its employees on their breaks instead of mak
scoundrel [369]

Answer:

Exchange influence tactic

It means to express one's promise or trading favours

Explanation:

Influence tactics are the strategies a leader or an organization adopts so as to get people committed to them, such strategy could be positive and negative, hard or soft.

Examples of influence tactics includes rational persuasions, exchange, personal appeals, pressure, consultation, Ingratiation, etc.

5 0
2 years ago
Pursuant to a contract, a landscaper performed $30,000 of landscape work for a homeowner. By coincidence, the homeowner and the
vfiekz [6]

Answer:

NO, court does not have subject matter jurisdiction over the landscaper's contract claim

Explanation:

given data

landscape work =  $30,000

seeking  in damages = $100,000

solution

landscaper assert and maintain claim against an home owner for breach of contract is no because court have diversity of an citizenship in the jurisdiction over an home owner for negligence claims .  

we know that Federal Rule of Civil Procedure permit only counter claims and  federal court have not any subject matter jurisdiction over an landscaper contract claims

6 0
3 years ago
Robin must decide on her overall pricing approach. She is a premium provider of food, but operates in an extremely competitive e
erica [24]

Answer: B

Sales objectives, competitive strategy, and promotional tactic

Explanation:

Sales objectives provides a clear direction for the expected a turnover a firm hopes to achieve over a period of time.

Competitive strategy refers to various strategies Robin hopes to utilize in getting a share from the market share. While promotional tactics refers to the various campaign and publicity aimed at introducing a product to the public.

Robin will hope to utilize this three concepts in order to successfully penetrate a highly competitive food market while also maintaining a certain market share.

8 0
3 years ago
Read 2 more answers
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