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77julia77 [94]
1 year ago
9

The estimated demand for a good is Q = 3,600 - 12P + 0.6M - 2.5PR where Q is the quantity demanded of the good, P is the price o

f the good, M is income, and PR is the price of related good R. The coefficient on P:
a. should not have the same sign as the coefficient on PR .
b. should not be greater than one (in absolute value).
c. is negative as dictated by the law of demand.
d. violates the law of demand.
Business
1 answer:
Gnom [1K]1 year ago
4 0

Answer:

c

Explanation:

a. Related goods can be complementray goods or substituted goods. In case of complementary goods, price of related good is inversely related to quantity demanded. In case of substituted goods, price of related good is directly related to quantity demanded.

b. It can be greater than 1.

c. It is always negative as relationship between price and quantity demanded is inverse.

d. It doesn't violate the law of demand

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Answer:

Cross-functional

Explanation:

The cross-functional work teams are made up of members from different departments to carry out a project or to solve a problem.

7 0
1 year ago
To survive and​ prosper, a business must gain and sustain​ ______ major competitive advantages over rival firms. A. as many as o
zloy xaker [14]

Answer:

C. <u>at least several</u>

Explanation:

Competitive advantage refers to a favorable situation or position a business enjoys over it's competitors owing to it's specialization or strength in performing a specific operation.

For example, in case of telecommunication, one company's competitive advantage could be superior network coverage with lower call drops than it's competitors.

In order to survive and grow, a business should try and gain competitive advantages in at least several fields and yet at the same time retain and maintain those competitive advantages over a period.

4 0
1 year ago
Iris Company has provided the following information regarding two of its items of inventory at year-end: There are 160 units of
maw [93]

Answer:

$7,840

Explanation:

The inventory of Items A and B should be valued at the lower of cost and the net realizable value.

The cost is the invoice price at time of purchase ,while the net realizable value is the selling price less to sell

Products              Cost          Selling price cost to sell NRV    unit value

   A                         $18               $22                $6     $16             $16

   B                          $48              $54                $4    $50             $48

Item A is valued at $16 each i.e $16*160=$2,560

Item B is valued at $48 each i.e $48*110=$5,280

total value of inventory                             =$7,840

The ending inventory valued at the lower of cost or net realizable value is worth $7,840

6 0
2 years ago
Inverness Steel Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products. The comp
weqwewe [10]

Answer:

3million Usd, 5794million Usd, 4950million Usd, 16%

Explanation:

1) Accounts receivable Inverness wrote off during 2016.

Accounts receivable write off

= balance of beginning of the year + bad debt expenses - balance at the end of the year.

Inputting the figures, we will have;

= $5million + $6million - $8million

= $3million.

Please kindly check attachment for step by step solution of the answers.

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suppose the federal reserve decides to decrease the money supply in order to lower inflation. in three or four sentences, explai
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What will happen is that diminishing the supply of cash will raise loan costs, in this manner diminish the measure of financial action, specifically venture and customer spending. This will prompt a general abatement popular for products and enterprises, achieving a decline in costs, or all the more normally, a littler increment in costs.
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