False.
If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is a GIFFEN GOOD.
An inferior good is a good that decreases in demand if income increases. These are the goods that people opt not to buy when their purchasing power increases.
Answer:
a) Gold = $1,380; Silver = $1,020
b) Gold = $1,300; Silver = $980
Explanation:
a) At first, with Qg = 60 and Qs = 270, the equilibrium prices for gold and silver are found by solving the following linear system:
Equilibrium price of gold is $1,380 and the price of silver is $1,020.
b) If the supply of gold increases to 120, since the goods are substitutes, there will be an increase in overall supply and the equilibrium price of gold and silver will decrease as follows:
Equilibrium price of gold is $1,300 and the price of silver is $980.
This demonstrates a difficulty in crafting a global communication strategy.
The question says that the nation of China is very much controlling the media in the country. This has made it difficult for businesses to communicate with their users.
This here tells us about the issue of communication. The companies may have issues sending message across to all of its customers due to the media problem.
This problem may be more difficult in a case where the business is a foreign market.
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Answer:
worker is protected by a cost-of-living adjustment clause in an employment contract
Explanation:
Cost of Living Adjustment(COLA) is an increase made to income from social security to counter the inflationary effects. The COLA change is essentially equivalent to the Consumer Price Index ( CPI) percentage increase over a given period.
All other options are wrong as it is not fit to the current situation
hence, the correct option is B.
Answer:
$10,000 increase
Explanation:
The computation of the net differential increase or decrease in cost for the entire five years for the new equipment is as follows:
<u>Particulars Keep the Replace the Effect on Cost </u>
<u> old mach. new mach. </u>
Cost of 5 years 350,000 225000 -125000.00
Investment in new machine 0 150000.00 150000.00
Salvage value of old machine 0 -15000.00 -15000.00
Increase in cost 350,000 360000.00 10000.00