Business, 03.03.2020 01:50 cesar9895

Charles purchases 20 basketball tickets per year when his annual income is $50,000 and 25 basketball tickets when his annual income is $60,000. Charles’s income elasticity of demand for basketball ticket is .a) 0.82, and basketball tickets are a normal good. b) 0.82, and basketball tickets are an inferior good c) 1.22, and basketball tickets are an inferior good d) 1.22, and basketball tickets are a normal good

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 17:20

Which of the following is a disadvantage of equity alliances when compared to non-equity alliances? 1. they are reflective of weaker ties between firms.2. they do not permit the exchange of explicit knowledge.3. they are more likely to bring about lack of trust and commitment.4. they require significantly higher levels of investment.

Answers: 2

Answer

Business, 22.06.2019 11:10

Suppose that the firm cherryblossom has an orchard they are willing to sell today. the net annual returns to the orchard are expected to be $50,000 per year for the next 20 years. at the end of 20 years, it is expected the land will sell for $30,000. calculate the market value of the orchard if the market rate of return on comparable investments is 16%.

Answers: 1

Answer

Business, 22.06.2019 15:30

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.

Answers: 3

Answer

Business, 22.06.2019 16:00

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.

Answers: 1

Answer

You know the right answer?

Charles purchases 20 basketball tickets per year when his annual income is $50,000 and 25 basketball...

Questions