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kirza4 [7]
2 years ago
12

A public relations specialist earns $41,500 salary each year. He/she wants to spend no more than three times his/her salary on a

house. What is the maximum price of a home that he/she can afford
Business
1 answer:
Pepsi [2]2 years ago
5 0

Answer:

Maximum price= $124,500

Explanation:

Giving the following information:

Annual salary= $41,500

He/she wants to spend no more than three times his/her salary on a house.

<u>To calculate the maximum price that he/she is willing to pay, we need to use the following formula:</u>

Maximum price= 41,500*3

Maximum price= $124,500

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The ___ show(s) the quantity of a good consumers would be willing and able to purchase at a given time for a range of prices whi
finlep [7]

Answer:

a) demand curve and demand schedule

Explanation:

A demand schedule is actually a table while a demand curve is a graph. Understanding the difference between the two of them is important in answering this question but both show different quantities of goods that consumers are willing to buy at different prices. An important assumption is that other factors affecting the quantity demanded are held constant. In summary, a demand schedule shows this relationship in a tabular form while demand curve shows it in a graphical form.

3 0
3 years ago
How are technology and technical profession related ? use example to write answer<br>​
dlinn [17]

Answer:

Technician and technologist are two different terms. However, these two terms are interrelated. ... A technician has a good knowledge of the general principles of the field he is in, whereas, a technologist is a person who is completely aware of various technologies. A technician works under a technologist.

8 0
2 years ago
Read 2 more answers
For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, (2) identify the
romanna [79]

Answer:

Please see explanation.

Explanation:

1. and 2.

                                  Type of accounts            Normal balance

a. Cash                                asset                            Debit

b. Legal Expense               expense                       Debit

c. Prepaid Insurance          asset                            Debit

d. Land                                asset                            Debit

e. Accounts Receivable     asset                            Debit

f. Dividends                         equity                          Debit

g. License Fee Revenue    revenue                      Credit

h. Unearned Revenue        liability                        Credit

i. Fees Earned                     revenue                      Credit

j. Equipment                        asset                           Debit

k. Notes Payable                 liability                        Credit

l. Common Stock                equity                          Credit

Journal entries to increase the balance:

                                                             Dr                          Cr

a. Cash                                            Cash                        Revenue

b. Legal Expense                     Legal expenses              Cash

c. Prepaid Insurance               Prepaid Insurance          Cash        

d. Land                                      Land                                Cash                                    

e. Accounts Receivable        Accounts receivable        Revenue

f. Dividends                           Retained earnings            cash

g. License Fee Revenue      Cash                                   License Fee Revenue

h. Unearned Revenue         Cash                                  Unearned revenue

i. Fees Earned                     Cash                                   Fees Earned

j. Equipment                        Equipment                          Cash

k. Notes Payable                Cash                                    Notes Payable

l. Common Stock                Cash                                    Common Stock

7 0
3 years ago
The market price of hamburgers in a college town increased recently, and the students in an economics class are debating the cau
agasfer [191]

Please find attached the graphs containing the requested information

The dominant cause of the increase in the price of hamburgers can be determined by the direction of change on quantity demanded: If the equilibrium quantity of hamburgers decreases, then the supply shift in the market for hamburgers must have been larger than the demand shift.

The demand curve shows the relationship between price and quantity demanded. The demand curve is negatively sloped.

The supply curve shows the relationship between price and quantity supplied. The supply curve is positively sloped.

<u>If the increase in the price of</u><u> hamburgers</u><u> is as a result of </u><u>burger joints </u><u>closing down. </u>

If burger joints closes down, the supply of hamburgers would decrease. The supply curve would shift to the left. As a result of the leftward shift of the supply curve, equilibrium price would rise and equilibrium quantity would decrease.

<u>The increase in the price of </u><u>hamburgers</u><u> is as a result of a decrease in the price of </u><u>French fries.</u>

Hamburgers and French fries are complement goods. Complement goods are goods that are consumed together. An decrease in the price of French fries would lead to an increase in the demand for hamburgers. This would lead to a rightward shift of the demand curve while the supply curve remains unchanged. As a result, both equilibrium price and quantity would increase.

If both events are partially responsible, the supply curve would shift to the left, leading to an increase in price and a decrease in quantity and the rightward shift of the demand curve would lead to an increase in equilibrium price and quantity.

If the decrease in supply is the dominant factor, there would be a decrease in equilibrium quantity.

If the increase in demand is the dominant factor, there would be an increase in equilibrium quantity.

To learn more about demand, please check: brainly.com/question/14456267?referrer=searchResults

8 0
2 years ago
At a price of $100, Beachside Canoe Rentals rented 11 canoes. When it increased its rental price to $125, 9 canoes were rented.
Kay [80]

Answer:

The absolute value of the price elasticity of demand for canoe rentals is 0.9

Explanation:

In order to calculate absolute value of the price elasticity of demand for canoe rentals we would have to make the following calculation:

price elasticity of demand for canoe rentals = ((9-11)/(9+11)/2)/((125-100)/(125+100)/2) = -.9

price elasticity of demand for canoe rentals=-0.9

absolute value of -0.9 is 0.9

Therefore, the absolute value of the price elasticity of demand for canoe rentals is 0.9

4 0
3 years ago
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