Answer:
B) always downward sloping.
Explanation:
The demand curve for normal goods is always downward sloping because of a combination of three factors:
- the purchasing power of the customers decrease and if the price of a product increases, consumers will be able to buy less even if they don't want to
- consumer surplus decreases since the difference between how much a consumer is wiling to pay for the good and its actual price decreases or even becomes negative, so they will not be willing to purchase it
- as the price of normal goods increases, consumers will tend to increase the quantity demanded for substitute products
A public company may be formed by persons among the public including Indian nationals or foreigners. It may be conceived in the government, cooperative, joint, as well as private sector of the economy. Some examples of public companies are, Reliance Industries, Tata Motors, Bharti Airtel, Larsen & Tourbo, etc.
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Answer:
The advantages of using secondary data are several, but its main advantage is that it is the cheapest way to gather large sets of information. A lot of secondary data is available on the internet, so it is time saving. Using secondary data saves work, efforts and money.
We can also use secondary data to determine more specifically which primary data we need to gather, again saving resources.
Answer:
73 months
approximately 6 years
Explanation:
The period of time it would take to pay off the loan can be determined using excel nper function as below:
=nper(rate,pmt,-pv,fv)
rate is the interest expressed in monthly terms which is 15.3%/12
pmt is the amount payment per month i.e $90
pv is the amount of loan which is $4250
fv is the balance of the loan after all payments have been made i.e $0
=nper(15.3%/12,90,-4250,0)= 73 months
73 months/12 months=approximately 6 years
Answer:
a) $3
b) $2
c) 1449
Explanation:
Given:
The cost for a carton of milk = $3
Selling price for a carton of milk = $5
Salvage value = $0 [since When the milk expires, it is thrown out ]3
Mean of historical monthly demand = 1,500
Standard deviation = 200
Now,
a) cost of overstocking = Cost for a carton of milk - Salvage value
= $3 - $0
= $3
cost of under-stocking = Selling price - cost for a carton of milk
= $5 - $3
= $2
b) critical ratio = 
or
critical ratio = 
or
critical ratio = 0.4
c) optimal quantity of milk cartons = Mean + ( z × standard deviation )
here, z is the z-score for the critical ration of 0.4
we know
z-score(0.4) = -0.253
thus,
optimal quantity of milk cartons = 1,500 + ( -0.253 × 200 )
= 1500 - 50.6
= 1449.4 ≈ 1449 units
