Answer: UHM I guess I-
Explanation:
The income elasticity in this case is 1.
<u>Explanation:</u>
In Economics, the income elasticity of demand gauges the responsiveness of the amount requested for a decent or administration to an adjustment in income. It is determined as the proportion of the rate change in amount requested to the rate change in pay.
Income Elasticity of Demand (YED) is characterized as the responsiveness of interest when a purchaser's salary changes. It is characterized as the proportion of the adjustment in amount requested over the adjustment in salary.
Answer:
$0.12 billion; a budget surplus
Explanation:
Given that,
Total spending for the last fiscal year = $4.71 billion
Tax collected during the same fiscal year = $4.83 billion
Government transfers = $0
Lilliput's budget balance:
= (Taxes - Government transfers) - Total spending of government
= ($4.83 billion - $0) - $4.71 billion
= $0.12 billion
Therefore, the Lilliput has a budget surplus during the last fiscal year because of the positive budget balance.
Answer:
At 12 cases the stein beer should reordered by him.
Explanation:
The reorder level is that level in which the company setup a new manufacturing unit so that they can fulfill the needs of the customers and attains the customer satisfaction as much as they can.
For computing the reorder level of the stein beer, the computation is shown below:
Reorder level = Daily unit sales ×elivery lead time
= 4 × 3 d
= 12 cases
The other cost like ordering cost, carrying cost or holding cost, per unit cost is irrelevant while computing the reorder point. Therefore, it is not considered in computation part.
Thus, the reorder level is 12 cases
Hence, at 12 cases the stein beer should reordered by him.
