Answer:
Option (a) is correct.
Explanation:
Here, shoes are normal goods as there is a positive relationship between the income level of the consumer and the quantity demanded for shoes. It can be seen that as the income of the consumer increases from $19,000 to $21,000 then as a result the quantity of pairs of shoes demanded increases from 9 to 11 pairs. Normal goods are generally have positive income elasticity of demand.
Therefore, the shoes are normal goods in this case.
Answer:
B) Cost of goods sold 1,370
Merchandise inventory 1,370
Explanation:
As the physical count revealed that $1,370 of inventory was missing, it is called inventory shrinkage. Inventory shrinkage can occur when there is a damaged or expired product in the inventory. When the company experience shrinkage, the following journal entries will be required.
Cost of goods sold 1,370
Merchandise inventory 1,370
In that case, inventory decreases and expense (cost of goods sold) increases.
Answer:
is based on offering a unique product or service that a wide range of buyers find appealing and worth paying for
Explanation:
A broad differentiation strategy is a strategy of making ones goods or services different from that of competitors in a way that would appeal to a wide range of consumers.
An example of a company that employs broad differentiation strategy is apple. Apple products are deemed to be quite different from that of its competitors
<em><u>Characteristics of broad differentiation strategy </u></em>
- Firms that use this pricing have higher brand loyalty
- Firms that use this pricing have higher sales than when compared with competitors
- Firms that use this pricing are able to charge a higher price for their products when compared to their competitors
Answer:
the answer is C. People who earn a college degree are likely to earn more than those who have a high school education