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m_a_m_a [10]
3 years ago
6

Ketchup is a complement (as well as a condiment) for hot dogs. If the price of hot dogs rises, the quantity of hot dogs demanded

____________, which _________ the demand for ketchup. Because of the change in the equilibrium quantity of ketchup, the demand for tomatoes by ketchup producers ___________, causing the equilibrium price of tomatoes to___________. This means producers of tomato juice face__________ input prices, and the supply curve for tomato juice ____________). The resulting ____________ in the price of tomato juice causes people to substitute (away from tomato juice and toward orange juice/away from orange juice and toward tomato juice), so the demand for orange juice ________.
Business
1 answer:
Kobotan [32]3 years ago
3 0

Answer:

Falls; lowers; falls; decrease; lower; increases; fall; away from orange juice and toward; fall.

Explanation:

In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.

The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. On the other hand, law of supply states that the higher the price of goods and services, the lower the supply.

Generally, consumers would like to be buy a product as its price falls or become inexpensive.

For substitute or complement products (goods), the price elasticity of demand is always positive because the demand of a product increases when the price of its close substitute (alternative) increases.

In this scenario, Ketchup is a complement (as well as a condiment) for hot dogs. If the price of hot dogs rises, the quantity of hot dogs demanded falls, which lowers the demand for ketchup. Because of the change in the equilibrium quantity of ketchup, the demand for tomatoes by ketchup producers falls, causing the equilibrium price of tomatoes to decrease. This means producers of tomato juice face lower input prices, and the supply curve for tomato juice increases. The resulting fall in the price of tomato juice causes people to substitute away from orange juice and toward tomato juice, so the demand for orange juice falls.

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A business owner makes 50 items by hand in six hours. She could have earned $10 an hour working for someone else. If each item s
ElenaW [278]

Answer:

Please see attachment.

Explanation:

5 0
3 years ago
Apex Fitness Club uses straight-line depreciation for a machine costing $23,860, with an estimated four-year life and a $2,400 s
maria [59]

Answer:

1. Book value at end of year 2 = $13,130

2. Depreciation from year 3 for last 3 years = $3,710 each year, that is $11,130 for three years.

Explanation:

As for the provided details, we have:

Cost of machinery = $23,860

Expected life = 4 years

Salvage value = $2,400

Straight line depreciation = \frac{23,860 - 2,400}{4} = 5,365

Under straight line method depreciation remains constant for life of asset.

Book value at end of year 2 = $23,860 - ($5,365 \times 2) = $13,130

Thereafter in the beginning of year 3 the estimate is made to realize that the total remaining life expected is 3 years, with salvage value $2,000

Thus, depreciation from year 3 = \frac{13,130 - 2,000}{3} = 3,710

Therefore, depreciation from year 3 to year 5 = $3,710 each year.

Total depreciation of last 3 years = $3,710 \times 3 = $11,130

3 0
3 years ago
The Vitamin Shoppe sells natural vitamins and supplements. Product prices are adjusted frequently to meet the needs of individua
Anna11 [10]

Answer:

Dynamic Pricing

Explanation:

Dynamic pricing is the price set to reflect the changes in environment factors and factors that are included in the company's corporate policies. In the above scenario, the company has set a different price in different scenario. The normal customer who visits the store fewer times are not given any discounts however the permanent customer is given discount. This is because of the changes in customer loyalty factor. The company is charging different in different scenarios which means it is pursuing Dynamic Pricing strategy.

6 0
3 years ago
"which expenses would most likely be classified as prepaid expenses (asset) rather than accrued expenses (liability)?"
MakcuM [25]

Expenses likely to be classified as prepaid expense (asset) are Prepaid Rent & Insurance Premiums. Enter a prepaid rent payment on the balance sheet as an asset until the month when the company is actually using the facility to which the rent relates, and then charge it to expense.   Any insurance premium costs that have not expired as of the balance sheet date should be reported as a current asset such as Prepaid Insurance.


8 0
3 years ago
Read 2 more answers
All of the following must be disclosed on municipal bond trade confirmation EXCEPT: A "In Whole" call dates B For revenue bonds,
Mashcka [7]

Answer:

The correct answer is D. For general obligation bonds, the source of income backing the issue.

Explanation:

There is no requirement to disclose the source of income that supports a general obligation issue because it must be a taxing power. The MSRB requires that the type of income that supports an income bond issue be disclosed, as well as the name of the corporate guarantor of the industrial income bonds. The dates of the calls "in their entirety" must also be disclosed in the customer confirmations, as they may affect the price of the issuance according to the rules of the MSRB (the MSRB requires that if a bond quoted based on performance is negotiated with a premium, and if it is enforceable "in its entirety" on pre-established dates and prices, then the dollar price must be calculated at the date of the call instead of the expiration date, since it is most likely to be called ).

5 0
3 years ago
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