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RideAnS [48]
3 years ago
14

Fill in the blanks: 1. The situation when law of demand is not applicable is known as it's............ 2. When price of one good

affects to the demand for other good, this situation is known as ............... 3. Demand is the effective desire backed by.....................And .....................
Business
1 answer:
Kryger [21]3 years ago
4 0

Answer:

1. The situation when law of demand is not applicable is known as it's EXCEPTION.

2. When price of one good affects to the demand for other good, this situation is known as CROSS ELASTICITY OF DEMAND

3. Demand is the effective desire backed by the ABILITY and WILLINGNESS to buy the product.

Explanation:

Demand is a term that is born out of the human desires , wants or needs.

Demand can be defined or referred to as the amount a consumer is able and willing to pay in other to purchase goods and services that they desire or want.

The Law of demand states that the Quantity of goods and services demanded is inversely proportional to the prices of these goods and services. This means when the prices of goods increase, the quantity demanded decreases and when the prices of goods decreases ,the quantity of goods and services demanded increases.

Elasticity of Demand can be defined as the responses or effects of changes in price of goods and services on changes in the quantity demanded.

We have 4 types of Elasticity of Demand

a) Price Elasticity of Demand: This is when the quantity of goods and services demanded is affected by the change in price.

b) Price Elasticity of Supply: This is when the quantity of goods and services supplied is affected by the change in price.

c) Cross Elasticity of Demand: This is when the price of one good affects to the quantity demanded for other good,

d) Income Elasticity of Demand: This when the quantity of goods and services demanded is affected by the changes in the income of the consumer.

There are situations whereby the law of demand is not applicable and this is referred to as it's exceptions. Those situations are:

a) The type of goods and services.

b) When changes in the price of the goods and services is expected by consumers.

c) Changes that occurs in fashion or styles of a particular product ( This is when a product goes out of fashion or the style becomes outdated)

You might be interested in
During the next two months, General Cars must meet (on time) the following demands for trucks and cars:
olganol [36]

Answer:

the formulation of the given linear program is,

Minimize  

z = 400S1 + 600S2 + 150 ( LT1 + LT2 + LC1  + LC2)  

Subject to the constraints  

T1 + C1 ≤ I000

T2 + C2 ≤ 1000

2T1 + C1 = S1

2T2 + C2 = S2

100 + T1 = 400 + LT1

LT1 + LT2 = 300 + LT2

200 + C1 = 800 + LC1

LC1 + C2 = 300 + LC2

 

S1,S2 ≤ 1 500

4C1 - 6T1 ≥ 0

4C2 - 6T2 ≥ 0

All variables  ≥ 0  

Explanation:

Firstly;

Let T1 be number of trucks to be produced in month 1 and T2 be number of trucks to be produced in month 2.  

Let C1 be number of cars to be produced in month 1 and C2 be number of cars to be produced In month 2.  

Let S1 be tons of steel used in month 1 and S2 be tons of steel used in month 2.

Let LT1 be number of trucks in inventory at the end of month 1 and LT2 be number of trucks In inventory at the end of month 2.

Let LC1 be number of cars in inventory at the end of month 1 and LC2 be number of cars in inventory at the end of month 2.  

Now the objective is to minimize the cost, so

z = [(cost of steel during month 1)(tons of steel used in month 1)] + [(cost of steel during month 2)( tons of steel used in month 2)] + [(holding cost at the end of each month )(trucks and cars in inventory at the end of each month)]

= 400S1 + 600S2 + 150 ( LT1 + LT2 + LC1  + LC2)  

Thus, the objective function Is, Minimize  

z = 400S1 + 600S2 + 150 ( LT1 + LT2 + LC1  + LC2)  

Constraint1 Each month, the production capacity of the vehicle is 1000 vehicles.

Number of trucks produced in month 1 + number of cant produced in month 1 ≤ 1000

T1 + C1 ≤ 1000  

Number of trucks produced in month 2 + number of cars produced in month 2 ≤ 1000

T2 + C2 ≤ 1000  

Constraint2 Each month. each truck uses 2 tons of steel and each car uses 1 ton of steel.

[(Tons of steel used to produce truck in month 1) + (tons of steel used to produced cars in month 1)] = S1

2T1 + C1 = S1

[(Tons of steel used to produce truck in month 2) + (tons of steel used to produced cars in month 2)] = S2

2T2 + C2 = S2  

Constraint3 At the beginning of month 1, 100 trucks are in inventory.  

[100 trucks at the beginning are in inventory +  

number of trucks produced in month 1]  = [400 trucks are demanded in month 1 + number of trucks in inventory at the end of the month 1]

100 + T1 = 400 + LT1

[trucks at the beginning of month 2 in inventory + number of trucks produced in month 2 ] =  [300 trucks are demanded in month 2 + number of trucks in inventory at the end of the month 2]

LT1 + T2 = 300 + LT1

Constraint 4 At the beginning of month 1, 200 cars  are in Inventory

[200 cars at the beginning are in inventory + number of cars produced in month 1] =   [800 cars are demanded in month 1 + number of cars in inventory at the end of the month 1]

200 + C1 = 800 + LC1

[cars at the beginning of month 2 in inventory + number of cars produced in month 2 ] =  [300 cars are demanded in month 2 + number of cars in inventory at the end of the month 2]

LC1 + C2 = 300 + LC2

Constraint 5 At most, 1,500 tons of steel can be purchased each month.

S1 ≤ 1,500

S2 ≤ 1,500

Constraint 6 Each month, vehicle produced by company must average at least 16mpg.

[{{(mpg of trucks)(number of trucks produced in month 1)} + {(mpg of cars)(number of cars produced in month 1)}}  /  {(number of trucks produced in month 1 ) + ( number of Cars produced in month 1)}] ≥ 16  

(10T1 + 20C1 /   T1 + C1) ≥ 16

4C1 - 6T1 ≥ 0

[{{(mpg of trucks)(number of trucks produced in month 2)} + {(mpg of cars)(number of cars produced in month 2)}}  /  {(number of trucks produced in month 2 ) + ( number of Cars produced in month 2)}] ≥ 16  

(10T2 + 20C2 /   T2 + C2) ≥ 16

4C2 - 6T2 ≥ 0

Therefore, the formulation of the given linear program is,

Minimize  

z = 400S1 + 600S2 + 150 ( LT1 + LT2 + LC1  + LC2)  

Subject to the constraints  

T1 + C1 ≤ I000

T2 + C2 ≤ 1000

2T1 + C1 = S1

2T2 + C2 = S2

100 + T1 = 400 + LT1

LT1 + LT2 = 300 + LT2

200 + C1 = 800 + LC1

LC1 + C2 = 300 + LC2

 

S1,S2 ≤ 1 500

4C1 - 6T1 ≥ 0

4C2 - 6T2 ≥ 0

All variables  ≥ 0  

3 0
3 years ago
You are considering an investment in Justus Corporation's stock, which is expected to pay a dividend of $1.50 a share at the end
kkurt [141]

Answer:

44.35

Explanation:

The stock will increase the grow rate of the company. We need to solve this.

The grow rate will be determinate using the Gordon dividend grow model

\frac{divends}{return-growth} = Intrinsic \: Value

we clear for g

return - \frac{divends}{stock} = grow

to find the return we use CAPM

Ke= r_f + \beta (r_m-r_f)  

risk free 0.032

market rate

premium market = (market rate - risk free) = 0.045

beta(non diversifiable risk) = 0.9

Ke= 0.032 + 0.9 (0.045)

Ke 0.07250

this will be the return we use in the formula for grow

g = 0.0725 - 1.5/40 = 0.03500

At this rate our dividends will grow and also our share price

the stock in 3 years will be the current price capitalized with the grow rate

Stock \: (1+ grow)^{time} = Stock_{3years}

Stock    40.00

time 3.00

rate         0.035

40 \: (1+ 0.035)^{3} = Stock_{3years}

Futue value in 3 years = 44.35

5 0
4 years ago
which type of legal structure makes self-employment tax a relevant concern A. llc B. s-corp C. c-corp D. sole proprietor
vaieri [72.5K]

Answer: sole proprietor

Explanation: because you are the only owner to the businesses

4 0
2 years ago
A market where tenants negotiate rent and other terms with property owners or their managers is referred to as a:_________
goldfiish [28.3K]

A user market is one where tenants bargain rent and other conditions with property owners or their managers.

<h3>What are Business User Markets?</h3>

Several other user markets also make purchases, either for their own consumption or with the goal of redistribution to others, in addition to selling finished goods and services to supply chain organizations. When making these purchases, the buyer typically does not significantly alter the goods from their original state. Although technically these markets are also a component of the supply chain, the majority of business users do not actively participate in or directly support production.

Any method that lets customers get involved in a marketing effort is known as user-generated marketing. User-generated marketing is just as much a kind of public relations as anything else because it gives a target audience a more participatory and interesting experience.

To know more about Business User Markets, visit: brainly.com/question/25492268

#SPJ4

4 0
1 year ago
John worked 43 hours last week. His hourly rate is $9.00. He has the following deductions taken from his pay: Social Security ta
DochEvi [55]

Net pay is calculated by subtracting deductions from Net Pay.

In this case:

Gross Pay is 40 hours X $9/hr (regular pay) PLUS 3 hours X (13.50 -- 1.5 times the normal pay) for overtime

Once you have Gross Pay, you multiply that by the percentages given for the deductions and subtract that total from Gross Pay.

One note, in this case, federal taxes are not withheld from the amount given to 401(k). So to figure the taxes you would:

(Gross Pay - 401(K) contribution) X 10%

Gross Pay - deductions = net pay

4 0
4 years ago
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