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3 years ago

A Giffen good is a good for which price and quantity demanded are positively related. A Giffen good arises when:_______.

Business

1 answer:

IRISSAK [1]3 years ago

7 0

Answer:

Explanation:

A giffen good is a good whose quantity demanded increases with price increase and reduces with price decreases. This leads to an upward sloping demand curve which is not in line with the law of demand

Example of a giffen good is bread.

For a giffen good there would a negative income effect and a positive substitution effect but the income effect would outweigh the substitution effect

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13.. Francisco leased equipment from Julio on December 31, 2021. The lease is a 10-year lease with annual payments of $150,000 d

tatuchka [14]

Answer:

$800,239.40

Explanation:

Calculation for the balance in Francisco lease liability at December 31, 2022

First step is to find the Liability for the year end 31st December 2021

Using this formula

Liability as on 31st December 2021=Initial Value of the Liability - Annual Payment

Let plug in the formula

31st December 2021 Liability =$1,013,854-$150,000

Liability as of 31st December 2021=$863,854

Second step is to find Interest for the Year 2022

Interest =$863,854×10%

Interest =$86,385.40

Third step is to less the interest amount from the Annual payment

Annual Payment $150,000- Interest $86,385.40

=$63,614.60

Last step is to find the balance in the lease liability at December 31, 2022

Lease liability balance = $863,854 -$63,614.60

Lease liability balance=$800,239.40

Therefore What should be the balance in Francisco lease liability at December 31, 2022 will be $800,239.40

5 0

3 years ago

What is the primary criterion of managerial accounting reports

agasfer [191]

What is the primary criterion for the preparation of managerial accounting reports?

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meet managers need
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3 years ago

Which economic system meets the most socialeconomic goals?

Gre4nikov [31]

Answer:

Market

Explanation:

6 0

3 years ago

If the Mount Lemmon fire district attempts to implement age diversity initiatives, but these initiatives are defeated because th

statuscvo [17]

Answer:

Explanation:

fears of reverse discrimination

8 0

2 years ago

Discuss how structural dimensions of the firm, including formalization, standardization, and centralization, can affect the firm

Andreyy89

Explanation:

A company's organizational structure can be defined as the organization of the company's activities so that it operates more efficiently and effectively and achieves its objectives and goals.

Therefore, the structural dimensions of a company including formalization, standardization and centralization will directly influence the innovation of an organization in relation to several variables such as its internal environment, processes, products and services, as there are organizational structures that are more focused on innovation than others, such as the horizontal structure in relation to the vertical, since the vertical structure is the most rigid and with a higher hierarchy, while in the horizontal structure there is greater autonomy of employees and greater participation in the decision-making process, which is a more flexible environment open to innovation.

5 0

3 years ago