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almond37 [142]
3 years ago
5

If income increases by 10% and, in response, the quantity of housing demanded increases by 7%, then the income elasticity of dem

and for housing is A) -1. B) -0.7.
Business
1 answer:
Katen [24]3 years ago
4 0

Answer:

the income elasticity of demand is 0.7

Explanation:

The computation of the income elasticity of demand is shown below:

As we know that

Income elasticity of demand is

= Percentage change in quantity demanded ÷ Percentage change in income

= 7 ÷ 10

= 0.7

hence, the income elasticity of demand is 0.7

The same is relevant

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Use the information for Geiberger Corporation from BE21.12, except assume the collectibility of the rentals is not probable. Pre
Vikentia [17]

Answer:

Date                Account title                                      Debit                Credit

12/31/2019      Lease Receivable                           $175,934

                      Cost of Goods sold                         $120,000

                      Sales Revenue                                                        $175,934

                      Inventory                                                                  $120,000

Date                Account title                                      Debit                Credit

12/31/2019      Cash                                                 $40,800

                       Deposit Liability                                                        $40,800

The rental amount is constant and is made on the first day of the lease period so this is an annuity due.

As the collectability is probable, you need to find the present value of this lease:

= 40,800 * Present value of annuity due factor, 5 year, 8%

= 40,800 * 4.3121

= $175,933.68

= $175,934

7 0
3 years ago
How many government agencies does the united kingdom have to oversee the financial industry?
Leni [432]
I believe the answer is: one

The name of the government agency is Financial Service authority (FSA).
FSA would act as a <span>a quasi-judicial body that had the power to regulate the whole financial sector in united kingdom. Even though they are a part of government agencies, they do not work directly under any government official.</span>

6 0
3 years ago
Read 2 more answers
Ashley, Nikki and Jared all selected identical new cars at the same price. Ashley, bought the car with some of his own money and
Romashka [77]
Nikki as the option to choose the less expensive liability-only insurance coverage.<span>
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6 0
3 years ago
Read 2 more answers
Video Planet (VP) sells a big screen TV package consisting of a 60-inch plasma TV, a universal remote, and on-site installation
skelet666 [1.2K]

Answer:

1. The stand-alone price for installation service using adjusted market assessment is $180

2. The stand-alone price for installation service using expected cost plus margin is $182

3. The stand-alone price for installation service using residual is $182

Explanation:

1. According to the given data the market price at which similar vendors charge installation service should be taken as the stand-alone price which is $180

Therefore, The stand-alone price for installation service using adjusted market assessment is $180

2. The stand-alone price of the installation service using expected cost plus margin would be a follows:

Stan−alone price=Estimated Cost+Estimated margin

=$130+(40%×$130)

=$182

Therefore, The stand-alone price for installation service using expected cost plus margin is $182

3. The stand-alone price of the installation service using residual would be a follows:

Stand−alone price=Total transaction price−Stand−alone price for T.V−

−Stand−alone price for compensation and other costs

=$2,020−$1,810−$130

=$80

Therefore, The stand-alone price for installation service using residual is $182

8 0
3 years ago
Iron Crafters Inc, a hardware manufacturing company, has employed experts to carefully analyze its operating unit, to identify p
spayn [35]

Answer: Safety Engineering

Explanation:

Iron Craft Incorporated is applying Safety Engineering to make their working environment more secure to work in.

Safety Engineering is the part of engineering involved in removing hazards from the working environment of an industry to make the work place safer for workers of that organization.

5 0
3 years ago
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