Answer: Grapes are considered <u>intermediate goods</u> if the purchaser uses them <u>to make wine </u>to sell others but not if the purchaser eats them.
Explanation: We call intermediate goods to goods that deplete their production process.
They are used <em>to produce other goods</em> and in its application to the<em> production process </em>it is fully incorporated into the product or transformed completely with the first use.
They are bought for<u> resale</u> or used as inputs or raw materials for the production and sale of other goods.
One <u>example</u> could be the<u> flour </u>used to make<u> bread </u>is an intermediate good for consumption. ( The bread is the final product that you buy on the store ) .
Answer:
d. at least two different markets with different price elasticities of demand
Explanation:
The theory of microeconomics about price differentiation is based on the concept of elasticity of demand. Price elasticity of demand is a measure of the sensitivity of demand for a good or service to changes in the price of that product. We say that the price elasticity of demand is elastic when a percentage change in the price of this good has major impacts on demand. On the contrary, we say that the price elasticity of demand is inelastic when variations in the price of goods have little or no influence on demand.
For price discrimination to take place, the offeror must be able to sell the same product at different prices to at least two different groups. This will depend on the price elasticity of consumer demand for the good in each of the markets. Thus, if one group is less elastic than the other, the offeror will be able to sell the goods at different prices.
An example: air market. Consumers are often more price sensitive when traveling for tourism than for business. Thus, a higher price may be charged to executives. which has lower price elasticity of demand than tourists.
Answer:
The answer is: Jamison has $175 in taxes due.
Explanation:
To determine the amount of taxes that Jamison still has to pay, we can use the following formula:
Taxes due = tax liability - (taxes withheld by employer + tax credits)
Taxes due = $7,200 - ($4,400 + $2,625) = $7,200 - $7,025 = $175
Jamison has $175 in taxes due.
Answer:
"Total quality management
" is the correct answer.
Explanation:
- TQM seems to be a management philosophy focused mostly on the idea that such a company can achieve long-term performance by making all its participants concentrate on enhancing efficiency and thereby providing customer loyalty, including low-level staff to their highest position representatives.
- This can be accomplished by the incorporation of all roles and processes relating to quality throughout the business.