In contrast, when the percentage change in quantity demanded is greater than the percentage change in price, ceteris paribus, demand is considered elastic, meaning that the good or service has more substitutes and consumers are more sensitive to changes in price.
What is Ceteris Paribus?
Ceteris paribus is a Latin term that means "all other things being equal" or "holding all else constant". It is a concept used in economics to isolate the effect of a single variable on a particular outcome, assuming that all other variables remain constant.
In economic analysis, ceteris paribus is often used as an assumption or simplification to help understand the relationship between two variables. For example, if we want to study the relationship between the price of a product and the quantity demanded, we might assume that all other factors that affect demand, such as consumer income, tastes and preferences, and the prices of related products, remain constant.
When the percentage change in quantity demanded is numerically less than the percentage change in price, ceteris paribus, demand is considered inelastic. This means that the change in price has a relatively smaller impact on the quantity demanded, indicating that the good or service is relatively essential or necessary for consumers. Inelastic demand typically occurs for goods or services that have few substitutes, such as essential medications or basic food items, where consumers are willing to pay a higher price to maintain their consumption.
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Seal Polymer Industries (SPI) sold two freight containers of latex gloves to Med-Express, Inc., a company based in North Carolina. When Med-Express failed to pay the $104,000 owed for the gloves, Seal Polymer sued in an Illinois court and obtained a judgment against Med-Express. Med-Express argued that it did not have minimum contacts with Illinois and therefore the Illinois judgment based on personal jurisdiction was invalid. Med-Express stated that it was incorporated under North Carolina law, had its principal place of business in North Carolina, and therefore had no minimum contacts with Illinois. Can SPI sue Med-Express in an Illinois court? Why or why not? Which statute (rule) applies here? Be specific, as there is a right answer here.
Answer:
Can SPI sue Med-Express in an Illinois court? Why or why not? Which statute (rule) applies here?
Yes, SPI can sue Med-Express in an Illinois court due to the minimum contacts doctrine. This is an actual court case that the North Carolina Court of Appeals ruled in favor of SPI. The minimum contacts rule states that in order for a business to be sued in another jurisdiction it must have maintained minimum contacts with residents of that state. Minimum contacts may include making business with individuals or companies that reside in the other state, visiting the other state or incorporating in the other state. In this case, Med-Express made business with SPI, and SPI is a resident of Illinois.
Yes, Seal Polymer Industries (SPI) can sue Med-Express in an Illinois court under the condition of minimum contact rule, as Med-Express has traded with SPI earlier which is a minimum contact.
What was SPI and Med-Express case in Illinois courts?Med-Express purchased two freight containers of latex gloves from Seal polymer industries and did not paid the amount for that. SPI sued Med-Express, in the Illinois court and asked for the recovery of its money.
Seal polymer industries can sue Mid-Express in the Illinois courts itself under the minimum contact condition of Minimum contact doctrine as they have traded before.
Therefore, Yes, the Seal polymer industries can sue Mid-Express in the Illinois court under the minimum contact rule.
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A company's ________ tells you how much money the company has left over after subtracting all expenses. A. Net profit B. Gross profit C. Revenue D. Cost of goods sold
Answer:
A. Net Profit
Explanation:
Answer:
Net Profit (A)
Explanation:
Edge 2021
External________ lead to an overallocation of resources to the specific economic activity. Two possible ways of correcting these spillovers are_______ and________.
Answer:
costs
regulation
taxation
Explanation:
A good has external cost or negative externality if the costs to third parties not involved in production is greater than the benefits. It leads to over allocation of resources to a specific economic activity.
An example of an activity that generates negative externality is pollution. Pollution can be generated at little or no cost, so they are usually overproduced.
Government can discourage the production of activities that generate negative externality by taxation. Taxation increases the cost of production and therefore discourages overproduction. Tax levied on externality is known as Pigouvian tax.
Government can regulate the amount of externality produced by placing an upper limit on the amount of negative externality permissible
Which of these tasks can be accomplished when the drop-down menu of the Bullets icon is clicked? Check all that
apply.
Indent the ideas in the bulleted list.
Change the number level of the list.
Choose the bullet to be used in the list.
Define the new bullet to be used in the list.
Pick the number format to be used in the list.
The task that should be achieved at the time when the drop-down menu of the bullet icon should be clicked is
Select the bullet i.e. applied in the list.Define the new bullet applied.For drop-down the menu when the bullets icon should be clicked, the task should be
Select the bullet.And, defined the new bullet.The other options should be ignored.
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Answer:
C. Choose the bullet to be used in the list.
D. Define the new Bullet used in the list.
Explanation:
Got them right on edge
The Earth’s surface is divided into __________ continents and __________ oceans.
Answer:
The Earth is divided into 7 continents and 5 oceans
Explanation:
hav a nice day
Happy if i get brainlest
Answer:
7 continents
5 oceans
Explanation:
Continents: Africa, Asia, Europe, Australia, North America, South America, and Australia
Oceans: Atlantic, Pacific, Indian, Arctic, and Southern (Antarctic)
If an advertiser doesn't want to add remarketing tags to a website, why would Customer Match be a good fit for them? 50
Answer: Customer Match relies on your own data instead of a remarketing tag
Explanation:
The Remarketing tags utility of Gogle Ads targets customers who have already been to a site before by adding them to a remarketing list. If the advertiser does not want to do this, they can use the Customer Match utility.
This will enable them to use both their offline and online data to reach out to people through the information that those people have already shared with the advertiser. The ads will then target those sort of people and others like them based on the data shared with the advertiser.
Benito's family is thinking of relocating from Los Angeles to Oakland to save money. They set up a budget comparing the cost of living for both cities. Oakland Los Angeles Budget Item Cost Cost Housing $565 $1200 Food $545 $655 Health Care $245 $495 Taxes $450 $625 Other Necessities $350 $495 Monthly Total How much money will they save monthly by the move to Oakland? $1315 $1560 $1665 $1765
Answer:
Total monthly saving = $1,315
Explanation:
Given:
Oakland Los Angeles
Cost Housing $565 $1200
Food $545 $655
Health Care $245 $495
Taxes $450 $625
Other Necessities $350 $495
Find:
Total monthly saving
Computation:
Saving in house = $1200 - $565 = $635
Saving in food = $655 - $545 = $110
Saving in health care = $495 - $245 = $250
Saving in taxes = $625 - $450 = $175
Saving in necessities = $495 - $350 = $145
Total monthly saving = $635+$110+$250+$175+$145
Total monthly saving = $1,315
Answer:
A) $1,315
Explanation:
I took the test on Edge
Jeff deposits $3,000 into an account which pays 5 percent interest, compounded annually. At the same time, Kurt deposits $3,000 into an account paying 3 percent interest, compounded annually. At the end of three years:________ 1) Kurt will earn exactly twice the amount of interest that Jeff earns. 2) Kurt will have a larger account value than Jeff will. 3) Kurt will have a smaller account value Jeff will. 4) Jeff will have more money saved than Kurt. 5) Both Jeff and Kurt will have accounts of equal value
Answer:
Kurt will have a smaller account value than Jeff will
Explanation:
The formula for calculating future value = A (B / r)
B = [(1 + r)^n] - 1
Jeff : $3000 x [(1.05^3 - 1 ) / 0.05] = $9457.50
Kurt :$3000 x [(1.03^3 - 1 ) / 0.03] = $9272.70
Jeff would have a higher account value than Kurt
my birthdays coming up... what should I ask for since everyone is asking :/
Answer:
a ps5 or xbox or switch or pc
Explanation:
cause gaming
A(n) ______ is defined as an attribute or quality of an individual that accounts for successful performance.
Answer:
Strength.
Explanation:
A strength is defined as an attribute or quality of an individual that accounts for successful performance.
Basically, it is an attribute which must be possessed by any individual or group of people who are in the position of leadership.
One of the biggest advantages of corporations is that investors cannot be held personally responsible for the debts of the business. This is the concept of _______.
Answer:
Limited liability.
Explanation:
A limited liability company (LLC) is a type of legal hybrid-business structure that can combine both partnership and corporation form of business, and the owners are only responsible for its debts with respect to the amount of capital they have invested. The first formal LLC statute was enacted by Wyoming in 1977 based on the Panamanian LLC and the 1982 German Code.
The operating agreement of a limited liability company establishes the company's method of management, allocation of profits and losses among members, member's rights and responsibilities, restrictions on the transfer of membership interests, voting power, and the process to be followed in dissolving the company.
One of the biggest advantages of corporations is that investors cannot be held personally responsible for the debts of the business. Hence, this is the concept of limited liability.
In conclusion, a limited liability company (LLC) refers to a private company in which the owners are legally responsible for the company's debts but only to the amount of capital he or she has invested.
Perfect Roofing Company receives a check from Quik Mart for fixing its roof, and indorses the check to Repair Supplies, Inc. (RSI) for materials previously supplied. Sam, RSI's owner, gives the check to Todd as a gift. In this situation, the party who is not an HDC of the check but who acquires HDC rights under the shelter principle is: a.Quik Mart. b.Perfect Roofing. c.Sam. d.Todd.
Answer:
d.Todd
Explanation:
In commercial law, a holder in due course (HDC) is the person or entity that has the legal right to collect payment. In this case, Todd wasn't even involved in the original transaction and might have never even heard of Perfect Roofing or Quick Mart, but he received a valid instrument as a gift from Sam. Under the shelter principle, the fact that Todd received the instrument from Sam in a legal way, qualifies him as an HDC.
Kegan borrows $78 from his sister. He will pay her back over a 4-week period. If he pays the
same amount each week, how much will he have paid back after the third week?
Answer:$58.50
Explanation:
You start by dividing the total amount by the total number of weeks. So, 78/4= 19.50 x 3 weeks. $58.50 after the third week.
What is the arrangement between two carriers as to who pays what on a medical bill in order to avoid payment duplication called
Answer:
coordination of payments
Explanation:
Coordination of payments is a term often used in the insurance-related operation, which describes a situation whereby two insurance companies or carriers work together to make actual payment of what is on a medical bill. The purpose of this coordination is to ensure that there is no double payment or payment duplication is avoided.
Hence, the correct answer in this situation is termed as Coordination of payments
Which action should a job seeker iWhich item forms part of your career portfolio? A forms an important part of your career portfolio. deally take by the end of an interview?
Question 1: Which action should a job seeker ideally take by the end of an interview?
Question 2: Which item forms part of your career portfolio?
Answer 1:
At the end of an interview, the jobseeker should demonstrate interest in the company by asking questions about the job, and about the company.
Depending on the role, some questions that the candidate that ask are:
If I am selected for this role, what would you expect me to achieve in the first 60 days of the job? this shows that you are intersted in knowing what the immediate focus or priority for the role is. A followup question to the answer to this would be to know what the company is focused on achieveing at the moment and how it is related to the roleWhat is the organisational culture like? Every organisation has it's culture. The organisation should disclose this as it helps canidates prepare their mind against how they'd navigate corporately and politicallyCan I ask to know the rate of attrition here? This is a tough question for company whose numbers are not too good. In essensence, it tell you how the company is performing. A company with a high attrition rate is not doing some right and if it's not fixed, might not qualify as a company of the future.Answer 2
A career porfolio is a compendium of all of your educational qualification, skills and achievements in the various jobs you have done. It is a snapshot of the kind and quality of value that you can bring to an organisation.
A career portfolio should contain the following:
Summary of Education: In this sectionm you want to ensure that you include the following - Schools attended and references from some of your teachers or lecturers. At the least, you may provide their names and contact.Activities/Hobbies: This helps your prospective employer to know who you are outside of work. This, in some cases may tell the employer whether one is a job fit or not. If for example the preson specification requires someone who is outgoing and social, a job fit would probably be one someone who plays golf, loves to attend social functions and probably has travelling as a hobby.Personal Strenghts: If you are able to spell out your strenghts accurately, it reduces the amount of work the recrutier has to do to match you against the role and the organisation.
Cheers!
In the video "Demonstrating Time Management," while Angie and Mandy are having a conversation, Cindy enters, looking for food because she didn't have time to go to lunch. What should Cindy have done
Answer: the one that's circled
Is the answer
Explanation:
GE Corporation has a put option selling for $2.90 and a call option selling for $1.95, both with a strike price of $29.00. What would the net value of a long straddle position be if the stock price at expiration is $35?
A) 7.15
B) $1.15
C) $1.15
D) $7.15
E) $36.15
Answer:
$1.15
Explanation:
Calculation for the net value of a long straddle position
Using this formula
Net value =(Stock price at expiration-Strike price)-Put option selling-Call option selling
Let plug in the formula
Net value = ($35-$29)-$2.90-$1.95
Net value=$6-$2.90-$1.95
Net value=$1.15
Therefore the net value of a long straddle position will be $1.15
An alumni association for a local university was started 12 months ago and has 150 members. Assuming the association has by-laws and a constitution and plans to meet annually, when can it buy group insurance for its members?
Answer:
in order for the association to be able to purchase group insurance it must be active for at least two years.
Explanation:
Besides the two year period, the association must also have more than 100 active members (this one has 125), have by-laws (they have them), meet at least once a year (they plan to do so), and have a legal constitution (they have it). If everything goes as planned, this association should be able to purchase group insurance in one year.
Which of these producer activities did you participate in this week? Check all that apply.
U
I served people at a restaurant, hotel, coffee shop, or other business.
I worked in a bank, library, or retail store.
I created art to be sold in an art show
I made a product
I did yard work or other chores for pay.
Answer:
2nd and 4th
Explanation:
Answer:
2 and 4
Explanation:
The price of good X increases from $55 to $60, and quantity demanded decreases from 500 to 400. The price of good Y increases from $55 to $60, and quantity demanded decreases from 500 to 475. Given this information, the:
Answer:
demand curve for Good X is more elastic than the demand curve for Good Y
Demand for good X is elastic because the coefficient of elasticity is greater than 1.
Demand for good Y is inelastic because the coefficient of elasticity is less than 1.
consumers who buy Good Y are less sensitive to price changes than consumers who buy Good X
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.
For good X,
Percentage change in price = $55 / $60 - 1 = | -0.0833| = 8.33%
Percentage change in quantity demanded = 500 / 400 - 1 = 0.25 = 25%
Elasticity of demand = 25% / 8.33% = 3
Demand for good X is elastic because the coefficient of elasticity is greater than 1.
For good Y,
Percentage change in price = $55 / $60 - 1 = | -0.0833| = 8.33%
Percentage change in quantity demanded = 500 / 475 - 1 = 0.0526 = 5.26%
Elasticity of demand = 5.26% / 8.33% = 0.63
Demand for good Y is inelastic because the coefficient of elasticity is less than 1.
consumers who buy Good Y are less sensitive to price changes than consumers who buy Good X
Which is the best measurement to use to determine who might have the absolute advantage?
high opportunity cost
low opportunity cost
low efficiency
high efficiency
Answer:
low opportunity cost
Explanation:
Opportunity cost is described as a process in which an individual sacrifices something when they tend to choose one thing or option over another option or thing.
Low opportunity cost: The term "low opportunity cost" is determined as the possibility of an individual's chosen investment returns to be lower than the forgone investment's returns.
Answer:
High Efficiency
Explanation:
Edge 2021
___ is high when there are many alternatives to a product or service and low when there are few alternatives from which to choose.
Answer:
Threat of substitute products or services
Explanation:
Threat of substitute products or services are one of Porters Five forces.
When there are many substitutes for a product, consumers can easily start consuming a substitute.
For example, there are different brands of cars. If the price of one brand of car, let's say Mercedes increases, consumers can easily start purchasing cheaper brands like Toyota or Avensis .
On the other hand, food is a necessity with almost no substitutes. If the price of food increases, consumers have no other option but to continue buying food as food is needed for survival.
After an impairment loss is recognized, the adjusted carrying amount of the intangible asset shall be its newaccounting basis. Which of the following statements about subsequent reversal of a previously recognized impairment loss is correct under U.S. GAAP?a. It is prohibited.b. It is required when the reversal is considered permanent.c. It must be disclosed in the notes to the financial statements.d. It is encouraged, but not required.
Answer:
A, it is prohibited
Explanation:
Under the U.S GAAP, subsequent reversal of a previously recognised intangible asset impairment loss is prohibited with the exception that the intangible asset is held up for the purpose of sale.
Cheers.
You are offering a job at a salary of $40,000 per year. The cost of annual health insurance for this person is $1,200 per month. If the company will pay for 75% of this cost, what is the annual cost to the employee
The annual cost to the employee is $40,800
Given that,
You are offering a job at a salary of $40,000 per year. The cost of annual health insurance for this person is $1,200 per month.
Calculation of the annual cost:= 75% of ($40,000 + ($1,200 × 12))
= 75% of ($40,000 + $14,400
= 75% of $54,400
= $40,800
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Bit rate can be scaled down by reducing the resolution and applying ____________ techniques. question 26 options:
Answer:
compression
Explanation:
Bit rate refers to the size of an electronic object that is created digitally. As for example 2 kb, 4 mb for an image or document or video, etc:
Further the size can be reduced if the image is cropped, or the resolution is decreased.
By cropping the bite rate is reduced as now the object is smaller, or in case compression technique is used, the object tends to reduce in size again.
The resolution being hd or non-hd helps to reduce the size too.
what to nations and businesses use to see how much producing some good will cost them in terms of not producing other goods
Answer:
Countries use the production possibilities schedule and the production possibilities frontier. (PPF)
Explanation:
These are theoretical and practical tools that are used to determine the opportunity cost incurred when choosing production alternative betwen two or more goods.
In the PPF in particular, good x (for example, sugar) is shown in the x axis, and good y (for example, butter) is shown in the y axis. A curve can be drawn, that illustrates the production possibilties between the two goods: for example, a country can produce either 200 units of sugar and 100 units of butter, or 200 units of butter, and 100 units of sugar.
The points on the curve are efficieny points: production quantities in which all available resources and being utilized efficiently.
Points inside the curve are inefficient: they represent output that is produced with available resources being used inefficiently.
And points outside the curve are unattainable because of lack of resources.
Megan purchased a new vehicle for $40,000. She put $5,000 down and financed the $35,000 balance over 5 years. What is the impact of this transaction on her net worth?
Answer: c. Her net worth remains the same.
Explanation:
Her Net worth would be her assets less her liabilities.
Her added Assets would be the new vehicle less the amount she put down for it as this would reduce her cash holdings.
Her added liabilities would be the amount she owes from buying the car
= Net Assets - Liabilities
= ( 40,000 - 5,000 ) - 35,000
= $0
The addition to her Net Worth is zero so her net worth remains the same.
As the operations manager for American Airlines you have decided to invest in 10 new jets for the company's fleet. There are three outcomes for this investment. What is the expected return on investment using the information below? Outcome Probability Return 1. .50 .15 2. .30 .25 3. .20 .10 Make sure your answer is in decimal format (.30, .40, etc.) and not a percentage. Round to the nearest hundredth place (i.e. .264 -> .26) if necessary.
Answer:
Expected r = 0.17
Explanation:
The expected return on the investment can be calculated by taking the return in each scenarios and multiplying it with the probability of that scenarios and taking the sum of the results. Thus, the equation to calculate expected return will be,
Expected r = pA * rA + pB * rB + ... + pN * rN
Where,
pA, pB, ... represents the probability of each scenario A, B and so onrA, rB, ... represents the probability of each scenario A, B and so onExpected r = 0.5 * 0.15 + 0.3 * 0.25 + 0.2 * 0.1
Expected r = 0.17
True or False: Your local floral shop has finally decided to implement a social media marketing strategy. You would be wise in telling them to start marketing on all of the social media platforms.
Answer: False
Explanation:
There are multiple steps involved in the implementation of a social media marketing strategy which is why once it is implemented, it would be unwise to immediately start to advertise across all social media platforms.
The floral shop should begin by setting goals it hopes to acheive with this kind of marketing, then ascertain its targets and analyse the competition to learn how they go about social media marketing.
Once these (and a couple of others depending on the business) are done, decide which platforms will best serve the shop and start creating and posting good content.
Several factors differentiate between those companies that use a sales orientation and those that use a market orientation. One factor relates to how a company defines its business. Which of the following business definitions or mission statements best characterizes an organization pursuing a sales orientation?a. JetBlue: To inspire humanity—both in the air and on the ground.b. American Express: We work hard every day to make American Express the world's most utilized credit card.c. Workday: To put people at the center of enterprise software.d. Patagonia: Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.
Answer:
b. American Express: We work hard every day to make American Express the world's most utilized credit card.
Explanation:
Sales orientation refers to a approach in which the firm is focused on improving the sales with respect to the products and services they are offering
According to the given options, the option B should be selected as the company hard every day for making the most utilizing credit card so it defines that the card is familiar with the public that represents the sales motive behind this
Therefore the option B is correct