Answer:
Borrowed amount = $5417
Explanation:
Discount note = 4%
This means that Kaylee has 100 - 4 = 96% of the borrowed amount at hand
Cash at hand = $5,200
Let the borrowed amount = X
Cash at hand = 96% of X
5200 = (96/100) * X
X = (5200 * 100)/96
X = $5417
Borrowed amount = $5417
John could either keep looking for an apartment that he can afford 100% of, or he could look for a roommate and go 50/50 on the monthly rent.
B. 5
To compute stock turnover divide Sales/Average inventory
350/70= 5
Stock turnover is the amount of times inventory is sold in a given time period.
Answer:
The income effect and substitution effect work in opposite directions and income effect is dominant.
Explanation:
In case of a normal good, both the income effect as well as substitution effect work in the same direction. A fall in the price of a product will increase the purchasing power of the consumer so its quantity demanded will increase.
The consumers will also prefer the cheaper good so the substitution effect will cause the quantity demanded to increase.
In case of an inferior good, however, income elasticity is negative. The income effect and substitution effect work in opposite directions.
A price decrease in the case of an inferior good will increase the real income and purchasing power of the consumer. This will cause the quantity demanded of the inferior good to decline as the consumer will prefer a substitute normal good.
Answer:
It is an example of a material symbol that helps reinforce Nunya's culture
