Answer:
$75.40
Explanation:
Mark up is a percentage applied on the cost to get the selling price. In other word, the difference between the marked-up amount and the total cost gives the profit of the entity.
To get the target selling price, we would first determine the total cost, then apply the mark up percentage on the cost and add the result to the cost.
Total cost per unit
= $12 + $4 + $9 + $10 + $5 + $12
= $52
Amount of mark up
= 45% * $52
= $23.40
Target selling price = $52 + $23.40
= $75.40
Answer:
Christie's share is $104500 while Jergens share is $48500. Thus, the first option is the correct answer.
Explanation:
The appropriation of net income among the partners will be as follows,
$ $
Net Income $153000
<u>Less: Salary to Partner</u>
Christie (66000)
<u>Less:Interest on Capital</u>
Christie 36000
Jergens <u>46000 (82000)</u>
Remaining Profit 5000
<u>Distribution of Remaining Profit</u>
Christie (5000/2 = 2500) 2500
Jergens (5000/2 =2500) <u>2500</u>
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Christie's Share = 66000 + 36000 + 2500 = $104500
Jergen's share = 46000 + 2500 = $48500
Answer:
The answer is letter A.
Explanation:
The true statement is Annual data on the distribution of income will indicate that the degree of income inequality in the two cities is identical.
Answer:
The cross elasticity of demand is zero
Explanation:
Cross elasticity of demand measures the percentage change in the quantity demand of a product occasioned by a change in the price of another but related commodity.
If the the commodities are complements, the cross of elasticity of demand between them would be negative. his implies an increase(decrease) in the price of one would lead to a decrease(increase) in the demand of the other.
If the the commodities are substitutes, the cross elasticity of demand between them would be positive. This implies an increase(decrease) in the price of one would lead to a increase (decrease) in the quantity demand of the other.
Where the cross elasticity of demand is zero, this implies that the goods are not in any way related. This implies that a change in the price of one would produce no change in the quantity demand of the other.
Answer:
Since elasticity is 6.4, a positive figure,it is normal good and the fact that it is greater than one means it is elastic,hence option A is correct
Explanation:
The formula for income elasticity of demand is given as:
/(new quantity-old quantity)//(old price+new price)/2)/(New income-Old income)/(old income+new income)/2)
New income=$33,000
Old income=$31,900
New quantity =5 times
Old quantity=3 times
Hence=(5-3)/(3+5)/2)/(33500-31900)/(31900+33500)/2)
Elasticity=6.45
