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When an economist makes a prediction that a rise in consumer incomes will increase the demand for bicycles sold by a bicycle company, it is made on assumption that bicycles are normal goods. Therefore, the option A holds true.
<h3>What is the significance of normal goods?</h3>
The normal goods or services being sold in the market of an economy can be referred to or considered as goods that have a direct relation with the demand for such goods, which are affected by consumer income.
As per the behavior of normal goods, it can be inferred that their demands increases with a given increase in the disposable income of the consumer, such as the one in the condition given above.
Therefore, the option A holds true and states regarding the significance of normal goods.
Learn more about normal goods here:
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An economist for a bicycle company predicts that a rise in consumer incomes will increase the demand for bicycles. This prediction assumes that bicycles are _____.
A. Normal goods
B. Luxury Goods
C. Inferior Goods
D. None of the Above
That is true, was that your question? :)
Answer:Internal recruitment
Explanation:
Internal recruitment happens When the company as a vacancy and looks with in its existing employees to fill the the vacant position. Hiring within the company has many because the company is hiring some one who is already familiar with culture and ethos of the company, he or she is also familiar with the procedures and operations of the company that reduces induction time and possible training time.
The costs associated with internal recruitment are significantly lower than the costs of recruiting externally for example, recruiting externally the company has to do background checks on the new employees and sometimes pay the the recruiting agency for their services. It also takes a long time to find a suitable candidate when recruiting externally because the company receives many applications which may result in an increase in admin costs associated with recruiting externally.
One major draw back of this recruiting strategy is that it leaves gaps within company work structure or work force. When employees are frequently changing position within the organization it may cause disruption in the function of the company
Answer:
6,250 units to break even.
Explanation:
Let's call x the number of units needed.
We know the sales price ($200/unit).
We know the cost of production ($120/unit)
And to break even, the Abner Corporation need to cover their fixed costs of $500,000.
That can be modeled like this:
200x - 120x = 500000 (sales price - cost price to get 500K)
we simplify and solve:
80x = 500000 (making $80 profit for each unit)
x = 6,250 units
Abner Corp needs to sell at 6,250 units to break even.
Since it is selling 7,500 units, they are making a profid.
