For each of the following pairs of goods, state whether the cross-price elasticity is likely positive, negative, or zero. Explain your answers.
a. Hulu and Netflix.
Close to zero. While they are substitutes they are not close substitutes.
Negative. They are complements.
Positive. They are close substitutes.
b. Tortilla chips and salsa.
Close to zero. While they are substitutes they are not close substitutes.
Negative. They are complements.
Positive. They are close substitutes.
c. Movie and popcorn.
Positive. They are close substitutes.
Close to zero. While they are substitutes they are not close substitutes.
Negative. They are complements.
d. Running shoes and high heels.
Negative. They are complements.
Positive. They are close substitutes.
Close to zero. While they are substitutes they are not close substitutes.
Answers
Answer:
a. Hulu and Netflix.
Positive. They are close substitutes
Hulu and Netflix both provides television shows, so a consumer can choose between them. They are good substitutes
b. Tortilla chips and salsa.
Negative. They are complements.
Tortilla chips are consumed with salsa sauce. So a demand for salsa increases so does demand for tortilla chips.
c. Movie and popcorn.
Negative. They are complements.
The more people watch movies the more they will want to buy popcorn.
d. Running shoes and high heels
Close to zero. While they are substitutes they are not close substitutes.
Each has its own time of use. Consumers by them independently.
Explanation:
Cross price elasticity is a measure of the quantity demanded of one good to changes in price of another good.
So when a good's demand reduces with increase in price of another it is negative cross price elasticity. This is common with complements.
When quantity demanded of a good increases with increase in price of another, they are substitutes.
However when there is little effect on the quantity demanded with increase in price of the other good they are unrelated
Related Questions
Additional information:
(a) Accrued interest on notes receivable is RM1,000.
(b) Depreciation on the equipment is RM2,000
(c) Accrued wages is RM1,200
(d) Accrued utilities is RM800 (charged to miscellaneous account)
(e) Rental which is due is RM1,000.
(f) Cash drawings by Amy is RM2,800
(g) Cash of RM400 is received from a customer for a debt which was wrongly credited to the
trade payables
Instructions:
1. Prepare adjusting journal entries for transactions (a)-(g).
2. Prepare the adjusted trial balance as at 31 December 2019.
Answers
Answer:
multiple choices or answer each question
Question 11 of 40
Why might a marketer remove a product from the product mix?
A. Because it has high sales
B. Because it isn't selling
C. Because it is a consumer favorite
D. Because it's been on the market for more than two years
need asap
Answers
Answer:
B.because it isnt selling
A circumstance where a producer discontinues selling a specific product permanently: To make room for new things, product deletion of slow-moving items is recommended. Compare with product recall. Hence option B is correct.
What is Product deletion ?Expanding the product mix can be done in two ways: by adding new brands or variations of already-existing brands to the product line; or by adding more product lines overall.
Brands eliminate products that don't meet marketing plans or show a poor market outlook in addition to those with low sales and profits. Industry-specific product failure rates range from 75% to 90% for newly packaged items, according to estimates.
When a product is not in the right place on the market and If a product is not profitable enough, all the resources required to create it are wasted and could have been utilized to create another product or improve an already existing one. This necessitates product erasure.
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explain 5 ways in which business studies is a living subject
Answers
Five ways in which business studies is a living subject:
Evolving technologiesEconomic shiftsChanging consumer preferencesSustainability and ethical issuesGlobalizationHow is business studies a living object ?Business studies is an ever-evolving subject that continuously updates itself to reflect the latest developments and trends in the contemporary business environment. The dynamic global economy, characterized by recessions, inflation, and changing trade policies, can have significant consequences on businesses. It compels them to adapt quickly in order to remain profitable.
Furthermore, as society shows a growing inclination towards sustainability and ethical concerns, businesses must incorporate these principles into their practices. This highlights the importance of keeping up-to-date with these changes for students studying in business studies so they can gain success in today's innovative business world.
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Economical Environment
Political Environment
Social Environment
Legal Environment
Technological Environment
A popular brand of pen is available in 10 colors and 3 writing tips. How many different choices of pens do you have with this brand?
Answers
The choices of pen that you are going to have based on the brand would be 30 pen.
How to solve for the choice of penWe have the brand of pen that is available to be 10 colors.
The writing tips that are available is said to be given as 3.
In order to get the total, we would have to carry out a multiplication.
That is, we would have to multiply the brand by the number of writing tips
Hence we would have 10 colors * 3 writing tips.
= 30 choices.
Therefore we would say that the choices of pen that we would get after multiplying is 30 pen.
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True or False
“Benefits" like health care coverage do not show up in your gross pay, but have a tremendous financial value to an employee.
Answers
In your business plan, you note that investors can expect to gain 110 percent of their investment back after three years. The time frame here provides your:
Group of answer choices
turnover.
point-of-sale.
rate of return.
return on interest.
Answers
If in your business plan, you note that investors can expect to gain 110 percent of their investment back after three years. The time frame here provides your: C. rate of return.
What is rate of return?Rate of return can be defined as the gain or loss a person make on their investment and the rate of return is in a form of percentage.
In a situation where a person who invest his/her money into a business make a profit of 110% of the amount the person invested after two to three years this is called a rate of return.
Therefore the correct option is C.
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BC Fruits Ltd, a fruit bottling and canning company, is planning to expand its operations. The directors
are hoping to increase the range of preserved fruit products and in doing so will need to invest in new
equipment. They are also hoping to open a new facility in the northern part of the country. The CFO has
been asked to prepare a report on the following issues of conceptual framework. You are the Finance
Controller of the company, and your CFO wants to address all issues in his report and has asked for your
assistance.
Prepare brief notes for the CFO, addressing each of the following and using the Conceptual Framework as
a source of reference:
(a) Identify potential providers of finance for BC Fruits Ltd and their information requirements in
respect of financial statements.
(b) Explain the terms 'performance' and 'position' and identify which of the financial statements will
assist the user in evaluating performance and position.
(c) Indicate why, for decision-making purposes, the financial statements alone
Answers
The potential providers of finance for BC Fruits Ltd will be commerical banks and the private investors.
Based on the information, the information requirements of the providers will be cash position, contingent liabilities, revenues, profit performance, etc.
Performance simply means the behavior over a particular period while position means the state of affairs on a particular date. It should be noted that while profit and loss statement reflects the performance of a business, the balance sheet shows the position of a company.
In conclusion, financial statements only shows the summary of financial transactions.
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how to solve the time value of money problems
Answers
Answer:
The Time Value of Money formula is FV = PV x [ 1 + (i / n) ] (n x t)] where V is the Future value of money, PV is the Present value of money, i is the interest rate, n is the number of impounding periods per year, and t is the number of years.
It is a computational model of a single neuron that is made up of one or mor inputs, a processor, and a single output.
Answers
A perceptron is a computational model of a single neuron that is made up of one or mor inputs, a processor, and a single output.
What is a perceptron ?A perceptron is a simple computational model of a neuron that is made up of one or more inputs, a processor, and a single output. The inputs are weighted and summed, and the output is determined by a threshold.
Perceptrons can be used to perform simple tasks, such as classification and regression. They are also the building blocks of more complex neural networks, such as deep learning networks.
Perceptrons are a simple but powerful tool for computation. They can be used to perform a variety of tasks, and they are the building blocks of more complex neural networks.
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An auto repair shop orders cleaning rags in batches of 120 boxes. This inventory is depleted at a constant rate and new rags are ordered to arrive exactly when the on-hand inventory of rags reaches zero boxes. What is the average inventory level over time
Answers
Answer:
60
Explanation:
the computation of the average inventory level over time is given below:
As the order is placed only when the inventory level is zero
So, The average inventory level is
= (120 +0) ÷ 2
= 60
Hence, the average inventory level over time is 60
The same would be considered and relevant
Basically we take an average of it to determine the average inventory level
Discuss the HT forecasting model particularly the encircle balancing supply & demand.
Answers
Answer:
Demand forecasting in supply chain management refers to the process of planning or predicting the demand of materials to ensure you can deliver the right products and in the right quantities to satisfy customer demand without creating a surplus
Discuss the relationship between competition and consumer expectations.
Answers
Answer:
The relationship between competition and consumer expectations is by what the compitition is creating in terms of product and functionability. And the consumer expectation is what will help the by buying into this product.
Explanation:
Totally Serial Enterprises is considering the two mutually exclusive projects below. The cash flows from the projects are summarized below. Year ManBearPig Project Cash Flow Flying Car Cash Flow 0 -$100,000 -$200,000 1 25,000 50,000 2 25,000 50,000 3 50,000 80,000 4 50,000 100,000 What is the Flying Car’s modified internal rate of return (MIRR) at a 12% cost of capital? A. 14.6% B. 12.7% C. 15.9% D. 10.0% E. 13.0%
Answers
Answer:
B
Explanation:
The modified internal rate of return is a capital budgeting method used to determine the profitability of an investment. The MIRR assumes that cash inflows are reinvested at the firm's cost of capital and outflows are financed at the firm's financing cost.
MIRR = (Future value of a firm's cash inflow / present value of the firm's cash outflow)^ (1/n) - 1
n = number of years
present value of the firm's cash outflow = $200,000
Future value of a firm's cash inflow
Future value of year 1's cash flow = 50,000 x (1.12^3) = $70,246.40
Future value of year 2's cash flow = 50,000 x (1.12^2) = $62,720
Future value of year 3's cash flow = 80,000 x (1.12^1) = $89.600
Future value of year 1's cash flow = $100,000
Add the future values together = $322566.40
($322566.40 / $200,000)^0.25 - 1 = 12.7%
why are we forced to make decisions in day-to-day life because of _____resources
Answers
Answer:
I believe scarce is the answer.
I hope this helps
Have a nice day! <3
We are forced to make decisions in day-to-day life because of limited resources.
A basic condition of nature means that the quantities of available labor, capital, land, and entrepreneurship used for the production of goods and services are finite. It means that the economy has only so many resources that can be used at any given point in time to produce goods and services.
Thus, we are required to make decisions in day-to-day life so that limited resources could be used to the most. Because unlimited wants is more than the limited resources available to meet the demands or fulfill those wants.
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Sandy Shores Corporation operates two stores: J and K. The following information relates to J: Sales revenue$1,300,000 Variable operating expenses 600,000 Fixed expenses: Traceable to J and controllable by J 275,000 Traceable to J and controllable by others 80,000 J's segment contribution margin is: Multiple Choice $700,000. $745,000. $425,000. $620,000. $345,000.
Answers
Answer:
Sandy Shores Corporation
J's Segment Contribution Margin is:
= $700,000.
Explanation:
a) Data and Calculations:
Sales revenue $1,300,000
Variable operating expenses 600,000
Contribution $700,000
Fixed expenses:
Traceable to J and controllable by J 275,000
Traceable to J and controllable by others 80,000
Total fixed expenses 355,000
Net operating income $345,000
b) The contribution margin is the difference between total sales revenue and the variable costs. The idea of segment contribution margin is that it covers the fixed expenses, whether controllable by the segment or not.
If an asset costs $132000 and is expected to have a $22000 salvage value at the end of its 10-year life, and generates annual net cash inflows of $22000 each year, the cash payback period is:_______.
a. 5 years.
b. 6 years.
c. 7 years.
d. 4 years.
Answers
Answer:
b. 6 years.
Explanation:
The cash payback period is the length of time it takes for the future cash flows to equal the amount invested in a project.
where, Amount Invested = Sum of Cash flows
therefore,
$132000 = $22000 + $22000 + $22000+ $22000 + $22000 + $22000
thus,
It takes 6 years for cashflows to equal $132000.
Munoz Company operates three segments. Income statements for the segments imply that profitability could be improved if Segment A were eliminated.
MUNOZ COMPANY
Income Statements for Year 2
Segment A B C
Sales $ 163,000 $252,000 $249,000
Cost of goods sold (129,000) (90,000) (84,000)
Sales commissions (22,000) (25,000) (28,000)
Contribution margin 12,000 137,000 137,000
General fixed operating expenses (allocation of president’s salary) (37,000) (49,000) (38,000)
Advertising expense (specific to individual divisions. (3,000) (17,000) 0
Net income (loss) $(28,000) $71,000 $99,000
Required
A. Prepare a schedule of relevant sales and costs for Segment A.
B. Prepare comparative income statements for the company as a whole under two alternatives: (1) the retention of Segment A and (2) the elimination of Segment A.
Answers
Answer:??
Explanation:
Your parents have promised to give you $8,000 when you graduate with your undergraduate business degree. They think you should be able to graduate four years from now. What happens to the present value of this gift if you delay your graduation by one year and graduate five years from now?
a. Cannot be determined from the information provided.
b. Becomes negative.
c. Decreases.
d. Remains constant.
Answers
Answer: Decrease
Explanation:
From the question, we are informed that my parents have promised to give me $8,000 when I graduate with an undergraduate business degree and they think I should be able to graduate four years from now.
The present value of this gift will reduce if I delay the graduation by one year and graduate five years from now. It should be noted that the present value is simply sum of money which has to be invested to have a particular future goal and in this case since the time has increased, the present value of the gift will reduce.
Identify and discuss the learner- centred padagogies the will make business more studies more practical to learners
Answers
The use of learner-centred pedagogies in business studies is essential to make the subject more practical to learners. PBL, Experiential Learning, and Collaborative Learning are some of the learner-centred pedagogies that can be used to achieve this goal. These pedagogies enable learners to develop practical skills, understand real-world problems, and apply business concepts in practical situations.
In business studies, several learner-centred pedagogies can be used to make the subject more practical to learners.
The first pedagogy is Problem-based Learning (PBL), which engages students in solving real-world problems. In PBL, students work in groups to identify and solve problems related to the business world. This approach helps learners understand the practical applications of business concepts.The second pedagogy is Experiential Learning, which is an immersive and hands-on approach to learning. In this approach, learners are exposed to real-world situations that allow them to apply the concepts they have learned in the classroom. Experiential learning involves internships, case studies, simulations, and role-playing exercises. This approach enables students to learn from their experiences and develop practical skills.The third pedagogy is Collaborative Learning, which is an approach that encourages students to work together in groups to achieve a common goal. In this approach, learners share their knowledge, skills, and ideas with their peers. This approach helps learners develop teamwork, leadership, communication, and problem-solving skills. It also helps them develop a deeper understanding of business concepts by learning from one another.For more such questions on Collaborative
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Consider the following BPMN diagram:
Answers
If we look at the process model, we can see that Task A is the first task and must always be completed in order for the model to be run. Further observation reveals that because an exclusive gateway is employed, any of the two jobs, B and C, is carried out individually rather than simultaneously. As we continue to move through the BPMN diagram, we see that task M is the conversing task and is therefore always run along with a networks message flow from it to task F, which is done as soon as a message is received in pool 2 and finishes.
An item of networking hardware or software called a gateway is used in telecommunications networks to allow data to go from one distinct network to another.
The way that gateway differ from routers and switches is that they can join various networks using more than one protocol to communicate and that they can function at any of the seven OSI levels.
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Alfred E. Old and Beulah A. Crane, each age 42, married on September 7,2017. Alfred and Beulah will file a joint return for 2019. Alfred's Social Security number is 111-11-1109. Beulah's Social Security number is 123-45-6780, and she adopted "Old" as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304. Alfred was divorce from Sarah Old in March 2016. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10 years or until Sarah's death, whichever occurs first. Alfred pays Sarah $15,000 in 2019. In addition, in January 2019, Alfred pays Sarah $50,000, which is designated as being for her share of the marital property. Also, Alfred is responsible for all prior years' income taxes. Sarah's Social Security number is 123-45-6788. Alfred's salary for 2019 is $150,000. He is an executive working for Cherry.Inc. (Federal I.D. No. 98-7654321). As part of his compensation package, Cherry provides him with group term life insurance equal to twice his annual salary. His employer withheld $24,900 for Federal income taxes and $8,000 for state income taxes. The proper amounts were withheld for FICA taxes. Beulah recently graduated from law school and is employed by Legal Aid Society.Inc. (Federal I.D. No. 11-1111111), as a public defender. She receives salary of $42,000 in 2019. Her employer withheld $7,500 for Federal income taxes and $2,400 for state income taxes. The proper amounts were withheld for FICA taxes. Alfred and Beulah had interest income of $500. They received $1,900 refund on their 2018 state income taxes. They claimed the standard deduction on their 2018 Federal income tax return. Alfred and Beulah pay $4,500 interest and $1,450 property taxes on their personal residence in 2019. Their charitable contributions total $2,400 (all to their church). They paid sales taxes of $1,400, for which they maintain the receipts. Alfred and Beulah have never owned or used any virtual currency, and they do not want to contribute to the Presidential Election Campaign. Compute the Old's net tax payable (or refund due) for 2019. Suggested software: ProConnect Tax Online
Answers
To compute the Olds' net tax payable (or refund due) for 2019, we need to gather all the relevant information and calculate their taxable income, apply the appropriate tax rates, deductions, and credits. Since the tax calculation involves various factors and tax laws, it would be best to use tax software such as ProConnect Tax Online or consult with a tax professional. The software will streamline the process and ensure accurate calculations based on the specific tax laws and regulations applicable to the Olds' situation.
what is the function of product and service management
Answers
How Does The State Of Competition Among hotels
Answers
Identify one supply or demand shifting factor that the community could have some control over or do something about
Answers
One supply or demand shifting factor that the community could have some control over is consumer preferences and behaviors.
1. Consumer Education: The community can actively engage in educating consumers about the benefits of certain products or services. By providing information on the positive impacts of choosing certain goods or services, consumers may shift their preferences towards those options, influencing the demand.
2. Marketing and Advertising: Local businesses and organizations can collaborate to promote goods and services that align with the values and preferences of the community. Effective marketing strategies can influence consumer demand and encourage them to choose specific products, thereby shifting the demand curve.
3. Support for Local Producers: Community members can actively support local producers and businesses by purchasing their goods and services. By creating a demand for locally sourced products, the community can influence supply chain dynamics and encourage businesses to cater to their preferences.
4. Sustainable Practices: Promoting sustainable practices within the community can also have an impact on supply and demand. By advocating for eco-friendly products and services, such as renewable energy or ethically sourced goods, the community can create a shift in consumer demand, influencing businesses to adjust their supply accordingly.
5. Collaboration with Local Authorities: The community can collaborate with local authorities to enact policies that align with their preferences. For example, advocating for stricter environmental regulations or supporting initiatives that promote fair trade can influence both supply and demand factors.
By actively engaging in these steps, the community can exert some control over consumer preferences and behaviors, thereby shifting the supply and demand dynamics in their favor.
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If
you are
using $50 to buy your groceries, which function of money is
this?
Answers
Answer:
Medium of Exchange
Explanation:
A medium of exchange is an instrument used as an intermediary to facilitate the exchange of goods and services. A good medium of exchange must give a fair valuation of the items being traded. Money is a widely accepted medium of exchange.
Almost all items in a market have a monetary value attached to them. A Buyer or seller would easily know the amount of money needed to trade an item. The $50 is being used as a medium of exchange for the purchase of groceries. The seller accepts the money if they agree with the buyer on the quantity of groceries worth $50.
Jamie Patterson is doing research in Los Angle on a new product for Hispanic men and women, ages 18 to 39. She needs to choose a sampling technique. Which would you recommend? a) convenience sample b) any would work perfectly well c) stratified random sample d) quota sample e) random sample
Answers
Answer:
c) stratified random sample
Explanation:
Sampling is the process by which a small and representative part of a population is analysed and used to draw conclusions about the larger population.
The main aim of sampling is to reduce the time spent in drawing conclusions about he population not interest. It is easier to analyse small number of variables than the whole population.
Stratified random sample involves choosing a sample that has smaller sub groups called strata. This allows the sample to effectively represent a population when there are more than one characteristic to be considered.
In the given scenario the population is for Hispanics with subgroups of men, women, and age of 18 - 39 years.
So stratified random sampling is the best option
In which of these do homeowners own BOTH the home and the
land it sits on?
cooperative
timeshare
condominium
townhouse
Answers
Answer:
time share is the answer or townhous
BB Water
Mr. Vu was the director of BB Water. He started his business with capital borrowed from members of his family. Thereafter, however, Mr. Vu’s family had very limited involvement in the business. Mr. Vu emerged as the most individualistic of the family. He seemed to have sole control of his business. For example, after describing how he set up the bottling plant and negotiated with government officials to get the necessary papers, he said: “I also had to do almost everything myself. At the beginning I bought the land, designed the buildings, and supervised the construction.
I had to interview and train each person. Also, I had to discipline people.” He explained that he could not delegate discipline because workers would ‘react’ if they were admonished by “anyone but the boss, the owner of the company”.
Question: Discuss the difference in behavior, attitude, perception and business culture between Mr. Vu, his family, and employees.
Answers
The difference between Mr. Vu and his family and employees is that he is an individualist and egoistic person, while the others are docile and willing to be silent partners.
What is Culture?This is the way of life of a group of people who are bound together by a family bond.
Here, we can see that from the given scenario, there is the description of the character of Mr Vu and how there is a stark contrast between his individualist self and the docile and willingness to be silent partners by his family members.
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The following information is available for Water Inc. Date Units Unit Cost January 1, 2020 (beginning inventory) 100 $50.00 Purchases: January 10, 2020 75 52.00 January 15, 2020 150 52.50 January 30, 2020 100 55.00 The company maintains a periodic inventory system. A physical count shows 125 units in stock on January 31. What is (a) ending inventory on January 31, and (b) cost of goods sold for January, using the FIFO inventory method
Answers
Answer:
125 and $15,156.6
Explanation:
The end inventory us 125 units and thus 300 units were sold
Mandatory spending refers to programs in the U.S. federal budget that
Answers
Answer:
Mandatory spending is simply all spending that does not take place through appropriations legislation. Mandatory spending includes entitlement programs, such as Social Security, Medicare, and required interest spending on the federal debt. Mandatory spending accounts for about two-thirds of all federal spending.
Explanation:
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