Answer: Option C
Explanation: In simple words, critical dilemma refers to the confusions and problems that may arise and are pretty hard to solve.
While implementing fiscal policies in an economy the authorities must have proper information however the information takes time and cost to get collected and processed.
This situation is called information lag and is a critical dilemma as the individuals in authority have to decide whether to go for information processing and collecting or not.
Answer:
$91,900
Explanation:
The computation of net sales revenue is shown below:-
Here, for reaching the net sales revenue we add the sales revenue and deduct the sales return and allowances with sales discounts
Net sales revenue = Sales Revenue - Sales Returns and Allowances - Sales Discounts
= $95,000 - $1,000 - $2,100
= $91,900
Therefore we have applied the above formula.
Answer:
The cost of goods available for sale is $650,100
Explanation:
Credit terms of 3/15, n/45 means that 3% discount for the payment within 15 days and the full amount to be paid within 45 days.
The discounts Northwest Fur Co. took = $560,000 x 3% = $16,800
Northwest uses a perpetual inventory system and the gross method to record purchases.
Net Purchases = Purchases - Purchase Returns - Purchases Discounts + Freight-In = $560,000 - $4,900 - $16,800 + $8,800 = $547,100
The cost of goods available for sale = Beginning merchandise inventory + Net Purchases = $103,000 + $547,100 = $650,100
Answer:
Billy's mom increases his weekly allowance by $ 55 . As a result, Billy increases the number of apps he downloads on his smartphone.
If with increase in income demand increases, the good will be a normal good. Thus, apps that billy downloads are normal goods.
Susan gets a 15 percent performance bonus at work. She can finally stop eating so many frozen pizzas and eat something more tasty. Frozen pizzas are: Inferior goods
Here with increase in income, the demand for a commodity falls, the so called commodity is a inferior good. Thus, in this case frozen pizzas are inferior goods.
Mike is an appliance salesman. Refrigerator sales in his store have fallen and so has his commission. Mike decides to switch from name brand cereal to generic cereal. Generic cereal is: Inferior goods
If there is a fall in income and thus demand increases, the good is inferior. Thus, in this case generic cereal is an inferior good.
Hair stylist Molly loses a few of her clients. Molly cuts back on the number of smoothies she buys during the week. Smoothies are: Normal goods
If there is a decrease in income and thus demand falls, the good is normal. Thus, smoothies as commodity in this case will be refereed to as normal goods.
Answer:
$140,420
Explanation:
The demand function is q = -720p + 20,500.
The price is $17
q = -720 ($17) + 20500 = 8260
The quantity sold is 8260
Revenue = price × quantity sold
= $17 × 8260 = $140,420
