Answer:income elasticity of demand for Americano coffees = 0.55
Explanation:
Income Elasticitity of demand = percentage change in quantity demanded / Percentage change in income
which can easily be calculated using
Income Elasticitity of demand =(New quantity demanded - old quantity demanded/ old quantity)/(New Income - Old income /old income.
new income = $28
old income=$22
new quantity= 3450
old quantity=3000
Bringing down our formulae
Income Elasticitity of demand =(New quantitry demanded - old quantity demanded/ old quantity)/(New Income - Old income /old income.
= {(3450-3000) /3000} /{(28-22)/22} =(450/3000) /(6/22) = 0.15/0.2727=0.55
income elasticity of demand for Americano coffees = 0.55
Here , we can see that we have a positive income elasticity of demand therefore Americano coffees is a normal good as an increase in income will lead to a rise in demand. Also, the income elasticity of demand for this commodity is less than 1, therefore it is also a necessity good.
Answer:
c. Dorothy should consider the threats to her independence and whether safeguards may be applied that reduce the threat(s) to an acceptable level.
Explanation:
The best application of the AICPA conceptual framework approach in this scenario is that: Dorothy should consider the threats to her independence and whether safeguards may be applied that reduce the threat(s) to an acceptable level.
<u>The threat of independence in the scenario is not high enough to warrant the resignation of Dorothy from the audit team because her friend is not the Finance Director or person in charge of primary preparation of the financial statements but just a member in the internal audit team, hence the risk to her independence is relatively moderate.</u>
Dorothy already believes that she will be objective, hence she should consider the threats to her independence and whether safeguards may be applied that reduce the threat(s) to an acceptable level.
Answer:
Explanation:
The expected cash flows from one of these bonds are:
- $60 in interest at the end of each year for 10 years, and
- $1,000 repayment of principal at the end of 10 years.
Answer:
A.Volunteering time
Explanation:
I just took the quiz and got it right.
Answer:
a. Americans, Spanish
Explanation:
<u>Particulars Wine Olive Oil Opportunity Opportunity cost of Olive oil</u>
<u> cost of Wine</u>
Spaniards 10 8 0.8 1.25
Americans 9 6 0.67 1.5
From the above table, the first option is correct
