Answer:
Option B:
inferior good; elasticity is negative
Explanation:
The income elasticity of demand is a measure of the rate at which a particular commodity is demanded, even after there is a change in the real income of the consumers.
It is a known fact that for inferior goods, once the real income of the consumers increases there is a higher tendency for them to switch to other premium commodities. Such goods are said to have a negative elasticity.
The income elasticity of demand can be calculated with this formula
percentage change in quantity demanded / percentage change in income.
If this gives a value that is less than 1, it means that the percentage change in the quantity of goods demanded is actually less than the percentage change in the income level of the consumers. Hence, the good is an inferior good. This is because when the consumers are earning more, they buy less of the product.
Answer:
Pretty sure it's to <u>shift the cells up</u>
Explanation:
Answer: The small frequent purchases means purchasing small budget goods and services in a short duration.
Explanation:
Advantages of small frequent purchases: It reduces the inventory levels.
Disadvantages of small frequent purchases: It increases the inbound transportation costs.
Using fewer supplier means to fill up the delivery transportation to its capacity of loading so that goods can be delivered at low transportation cost.
Answer:In the month of May, Revenue was only earned from Customer C $3,400 and customer D, $2,300. Revenue was not earned from Customers A and B in the month of May. Therefore, total revenue is $5,700.
Explanation:In accordance with the principle of revenue recognition,Revenue will only be recognised when it is earned and services when they are fully rendered. For Customer A, the service has not been rendered, Therefore, the revenue is not yet earned.
For customer B, Although agreement has been reached and goods delivered, since payment hasn't been received, revenue is not recognised.
Answer:
B
Explanation:
when she is talking over the slides, some people are not good multi-taskers and want to listen to the more interesting thing, which is the audio.
