Answer:
a. positive, so Joan considers hamburger to be an inferior good.
Explanation:
Income elasticity is a microeconomic concept that aims to measure the sensitivity of demand in the face of income changes. To calculate the Income elasticity , a formula is used that divides the observed percentage change in quantity (Q) by the percentage change in price income (P): Elasticity = ▲ Q / ▲ P
The percentage change in quantity (▲ Q) and the percentage change in price (▲ P) are calculated by the difference in quantity / price in the two periods divided by the quantity / price of the first period.
▲ Q = (60 -50/60) = 0,16
▲ Q = (40.000 - 30.000/40.000) = 0,25
Elasticity = ▲ Q / ▲ P = 0,16/0,25 = 0,64
Therefore, the elasticity is positive.
This good is considered inferior, because according to microeconomic theory, inferior goods are those whose demand increases when consumer income decreases. This is the opposite of the normal good, which has its demand increased when income increases.
Answer: The correct answer is "e. Transfer of chairs from the assembly line to the staining facility and storage of completed bookcases in inventory.
".
Explanation: The statement "e. Transfer of chairs from the assembly line to the staining facility and storage of completed bookcases in inventory.
" would be included in a listing of the company's non-value-added activities.
An activity is everything that consumes resources. The resources consumed can be tangible (materials, time, money) and intangibles (mood, effort, illusion).
Value is what someone appreciates. In economic activities we refer to value as "what someone is willing to pay" for your product. That someone would be the customer. If the Client does not pay it, it is because he does not appreciate it, it does not give it value.
<u>In this case, the activities that do not clearly generate value are "transfer" and "storage". Although there are activities that do not generate value but are necessary such as transfer, storage could be eliminated or optimized so that it is not an activity that limits production or increases costs.</u>
The law of diminishing marginal utility states that as a
person increases consumption of a good while keeping consumption of other
products persistently then there is a drop in the marginal utility<span> that person descends from consuming each extra unit of
that product. So the answer is letter C.</span>
1) Road
accident officials may visit the claimant in person, to confirm the
authenticity of the claim.
<span>2) The
RAF should reinstate their existing system (the fault-based compensation
system) with a new system proposed in the high court, called the Road Accident
Fund Benefit Scheme (RABS) – a no fault benefit system – that will pardon the
affected driver from civil liability.</span>
<span>3) Certify
that there is slight intermediary intervention as possible. For instance, lessen
the amount that lawyers take as a cut from pay-out.</span>
<span>4) Utilize more efficient employees, who can make
certain that the administrative side of the RAF runs as reasonably and smoothly
as possible, with as little deceitful behavior and corruption as possible. </span>
<span> </span>
