Legitimate political activities include complaining to one's supervisor, bypassing the chain of command, forming coalitions, obstructing organizational politics, excessively adhering to rules, developing contacts outside the organization. Thus, the correct answer is option D.
What is legitimate political activities?In political science, legitimacy refers to the right and acceptance of a governing law or regime. Whereas authority refers to a specific position in an established government, legitimacy refers to a system of government—where government refers to a "sphere of influence." Political legitimacy is regarded as a fundamental requirement for governance, without which a government will face legislative deadlock(s) and collapse.
Under legitimate political activity, one can complain to the supervisor, and excessively adhere to rules and regulations. Forming coalitions is also allowed under this type of activity. One can also develop some contacts outside the organization.
Therefore, the correct answer is legitimate political activity.
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The job satisfaction of an employee
is depending on the
Select one:
a. Behaviour
b. Attitude
c. Employer
d. Personality
= Attitude
Answer:
Job satisfaction depends on several different factors such as satisfaction with pay, promotion opportunities, fringe benefits, job security, relationship with co-workers and supervisors, etc. ... Factors affecting the level of job satisfaction are; Working Environment.
ATTITUDE
Job satisfaction and also organizational responsibility are two key attitudes that are considered applicable to important outcomes. The Correct option is 'B'.
What is Job Satisfaction?
Job Satisfaction is the essential segment of employee motivation and motivation towards more satisfactory interpretation.
Many people have determined job satisfaction and memorialized that most employees have issues with their leader who is not presenting them the consideration they deserve.
Supervisors also conduct harsh behaviors toward workers due to which they are not satisfied sharing good and creative ideas with their leaders.
Job satisfaction relies on several different elements such as satisfaction with pay, fringe benefits, promotion opportunities, relationship with co-workers job security, supervisors, etc.
Elements affecting the status of job satisfaction are; Working Environment.
Therefore, The correct option is 'B' ATTITUDE.
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When a firm shifts from transactional selling to a value-added and relationship approach, a number of changes have to take place in the way a salesperson approaches customer as well as his or her own job. List as many of these changes as you can and explain why each is important to making value-added selling work. Minimus words 100 and please provide source of information
Answer:
When a firm shifts from transactional to value-added and relationship approach of selling the following changes takes place in the way the salesperson approaches he customer and their job:
Whilst the objective the transactional approach is to make a sale, the relational approach is to build trust. When a customer trusts their sales person, it means they hold the sales person to put their interests first or at least take care of their interests whilst taking care of their too. The relational approach is more focused on retaining existing customers than making new ones. This is the obverse of a transactional relationship. It is said that it costs about 5 times extra to get a new client than what it takes to keep one. Thus the smart company focuses on honing this skill until they are better off for it. in a transactional approach, the nature of the relationship is relatively short, whilst it is stronger and longer in a relational approach. A Relational approach to selling can sometimes occur in the grey line between personal and official relationships.In a relationship-based approach to selling, the firm focuses on adding value in the primary areas of concern for the client as well as other areas. For example, a client - the CEO of a start-up requires recruitment, onboarding, and standard operating procedure as services from a HR firm. As a relational HR person, the best way to proceed would be to give him exactly what he wants and stil go ahead to add more value in other areas by giving templates of letter of appointment to the client.Cheers!
What is the Total expected equity financing for Amazon’s purchase of Walmart, at the assumed 50-50% equity and debt financing deal mix provided
Answer:
The correct solution is "$241,356".
Explanation:
The given values are:
Share price,
P0 = 140.50
Acquisition premium,
p = 20%
Diluted shares outstanding,
N = 2,863 MM
Now,
For Amazon, the purchase price every share will be:
⇒ [tex]P=P0\times (1 + p)[/tex]
On putting the values, we get
⇒ [tex]=140.50\times (1 + 20 \ percent)[/tex]
⇒ [tex]=168.60[/tex]
The purchase consideration will be:
= [tex]P\times N[/tex]
= [tex]168.60\times 2,863[/tex]
= [tex]482,702 \ MM[/tex]
So that,
The total equity financing expected will be:
= [tex]Purchase \ consideration\times Percentage \ of \ equity \ financing[/tex]
= [tex]482,702\times 50 \ percent[/tex]
= [tex]241,351 \ MM[/tex] ($)
Thus the above is the correct answer.
Beth, a recent college graduate, recognizes that she has lots of nice "stuff," largely thanks to her family buying it for her. Beth also recognizes that she has a lot of debt, thanks to her student loans. When Beth considers the difference between the monetary value of her possessions and other financial assets and her debt, she is best described as pondering her:______
a. income.
b. class position.
c. prestige.
d. wealth
Answer:
D
Explanation:
Wealth is the value of all the assets a person owns
Beth is pondering on the value of all her assets less her debt. So, she is pondering on her wealth
While managing political
behaviours
in organization, the manager
requires discouraging:
Select one:
a. Dialogue
b. Negotiation
c. Relationships
d. Self interest
= Self interest
Answer:
You are right it is D
Explanation:
Having Self Intrest will cause selfishnes while doing political things.
CHECKPOINT QUESTION
Which of the following statements about gossip in the organization is TRUE?
Only small amounts of information are carried on the grapevine of workplace
gossip.
Employees rely on each other for important information more than they rely on
their bosses.
Managers are excluded from using the grapevine to communicate or respond to
messages.
The grapevine can be used to prevent individual agendas and potential
miscommunications.
Answer:
Only small amounts of information are carried on the grapevine of workplace
gossip.
Explanation:
Grapevine is referred to as the circulation of unofficial information and rumors. Most of the communications in an organization is carried out through grapevine. It is informal communication of messages and information and also gossips in an organization. The grapevine communications carries more of accurate information than gossips. Only a small portion of the information consists of gossips in the functional grapevine.
Ben invest $10,000 at a rate of interest of 5 percent for 40 years. Which of the following statements about the return on the investment is true?
Answer:
a. Ben will receive a significant amount at the end of the investment period, due to the feature of compounding.
Multiple choice options
a. Ben will receive a significant amount at the end of the investment period, due to the feature of compounding.
b. Ben will receive no interest on his investment at the end of the investment period.
c. Ben will receive an interest of $5,000 at the end of ten years.
d. Ben will receive more money at 3 percent rate of interest instead of the existing rate.
e. Ben will receive more money at the end of 30 years compared to the money received at the end of 40 years.
Explanation:
Ben will be earning 5% of his investment of $10,000 every year for 40 years.
At the end of every year, the 5% earned will be added to $10,000. It means the principal and interest will increase at the end of every year. After 40 years, Ben will receive a huge amount, as indicated below.
The formula is A= p x ( 1 x r)^n
A = $10,000 x ( 1+0.05)^40
A = $10,000 x (1.05)^40
A= $10,000 x 7.039988
A= 70,399.88
A=$70,400
Ben invest $10,000 but will receive $70,400 after 40 years
A stock sells for $10 per share. You purchase 100 shares for $10 a share (i.e., for $1,000), and after a year the price rises to $17.50. What will be the percentage return on your investment if you bought the stock on margin and the margin requirement was
(a) 25 percent,
(b) 50 percent, and
(c) 75 percent? (Ignore commissions, dividends, and interest expense.)
Answer and Explanation:
The computation is shown below;
a. Rate of return
= (Selling price - purchase price) ÷ (purchase price × margin)
= ($17.50 - $10) ÷ ($10 × 25%)
= $7.50 ÷ 2.50
= 300%
b. Rate of return
= (Selling price - purchase price) ÷ (purchase price × margin)
= ($17.50 - $10) ÷ ($10 × 50%)
= $7.50 ÷ 5
= 150%
c. Rate of return
= (Selling price - purchase price) ÷ (purchase price × margin)
= ($17.50 - $10) ÷ ($10 × 75%)
= $7.50 ÷ 7.50
= 100%
Compute 2018 taxable income in each of the following independent situations.
a. Drew and Meg, ages 40 and 41, respectively, are married and file a joint return. In addition to four dependent children, they have AGI of $125,000 and itemized deductions of $27,000.
b. Sybil, age 40, is single and supports her dependent parents, who live with her. Sybil also supports her grandfather, who lives in a nursing home. She has AGI of $80,000 and itemized deductions of $8,000.
c. Scott, age 49, is a surviving spouse. His household includes two unmarried stepsons who qualify as his dependents. He has AGI of $75,000 and itemized deductions of $10,100.
d. Amelia, age 33, is an abandoned spouse and maintains a household for her three dependent children. She has AGI of $58,000 and itemized deductions of $10,650.
e. Dale, age 42, is divorced but maintains the home in which he and his daughter, Jill, live. Jill is single and qualifies as Dale’s dependent. Dale has AGI of $64,000 and itemized deductions of $9,900.
Answer:
a. Drew and Meg are married and filing a married joint return. The standard deduction of a married joint return is $24,400 but it is lower
AGI $125,000
Less: Itemized deduction $27,000
Taxable income $98,000
b. Sybil's filing status is head of household. The Standard deduction for head of household is $18,000 in 2018 which is higher than itemized deductions of $8,000.
AGI $80,000
Less: Itemized deduction $18,000
Taxable income $62,000
c. Scott is a surviving spouse. The standard deduction will be equal to that of married filling joint return which is $24,400
AGI $75,000
Less: Itemized deduction $24,400
Taxable income $50,600
d. Amelia is an abandoned spouse. She can file as head of household. The standard deduction for the year 2018 is $18,000 which is higher than itemized deductions of $10,650.
AGI $58,000
Less: Itemized deduction $18,000
Taxable income $40,000
e. Dale is divorced and filing status is head of household. The standard deduction for the year 2018 is $18,000 which is higher than itemized deductions of $9,900
AGI $64,000
Less: Itemized deduction $18,000
Taxable income $46,000
what did andy davis do to change eddies behaviour?
Answer:
The Manager Andy Davis worked hard to improve Eddie's behavior and skills by implanting commitment in improving Eddie through team-based efforts.
Explanation:
Sid Summitt is the stockholder and operator of Our Idol LLC, a motivational consulting business. At the end of its accounting period, December 31, 2017, Our Idol has assets of $502,000 and liabilities of $120,000. Using the accounting equation, determine the following amounts:______.
a. Stockholders' equity as of December 31, 2017.
$
b. Stockholders' equity as of December 31, 2018, assuming that assets decreased by $117,000 and liabilities decreased by $36,000 during 2018.
$
Answer:
a. Stockholder's equity as of December 31,2017 = Assets - Liabilities
= $502,000 - $120,000
= $382,000
b. Stockholder's equity as of December 31,2018 = $382,000-($117000 - $36000) = $229,000
what are the similarities between the scientific theory and the human relations theory and bureaucratic theory
Question 2 (1 point)
Joanna studied medicine in college but graduated with a bachelor's degree in
business administration. Which company might be interested in hiring Joanna?
O A pharmacy chain looking for a traveling pharmacist
A nursing home in need of orderlies
A large pediatric practice looking for an office manager
A hospital in need of nurses.
{please help me it’s due today}
Answer:
A large pediatric practice looking for an office manager
Explanation:
An office manager requires management and administrations skill to discharge their duties effectively. When working in a hospital, a medical background is critical.
A bachelor's degree in business administration prepares students to be good managers. A large pediatric practice looking for an office manager will need a business administration degree holder's skills. Since Joanna studied medicine and business administration, she should be the ideal person to work as an office manager at the pediatric center.
If you were given the task of totalling all the M1 money in circulation in the US, which of the following would you include in your calculations?
a. Demand deposits and other checking accounts
b. Currency
c. Savings accounts
Answer:
A
B
Explanation:
M1 is the most liquid definition of money. M1 includes currency and coin, demand deposits, travellers' checks, other checkable deposits
Savings account is part of M2
Paragraphs in a business email should be 20 to 40 words long. True False
Which of the following describes the value of a product?
- the amount of money that consumers are willing to pay for the product
- the time and materials that it costs a manufacturer to make the product
- the difference between the cost of making the product and what consumers pay for the product
- the sum of the total cost of making the product and what consumers pay for the product
Answer:
- the amount of money that consumers are willing to pay for the product
Explanation:
A product's value can be described as the satisfaction it gives to consumers. A product's value is the benefit it generates to the final consumer. Customers are always willing to pay more for a product that offers higher benefits. The demand for goods and services that offer less satisfaction to customers is always low, which makes them have low market prices.
The value of a product can be expressed as the amount of money that customers are willing to pay to obtain it.
The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton.
Answer:
Cool
Explanation:
Suppose Kim purchases a new personal computer produced in China for $1,900. What is the effect on the components of GDP and GDP as a whole?
Instructions: If there is no impact on that component enter a O for $0. If there is a positive contribution to the component enter in a the whole dollar amount. If there is a negative contribution to the component enter a negative sign before the dollar amount. Be sure all boxes include a number.
Consumption _____$
Investment _______ $
Government Expenditures ________$
Net Exports _____ $
Change in GDP as a result of the transaction __________ $
Answer:
Consumption $ 1900
Investment 0
Government Expenditures 0
Net Exports -$ 1900
Change in GDP as a result of the transaction 0
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
The purchase of the laptop is part of durable consumption. So, consumption increases by $1900
The purchase of the laptop is not by a business or by the government. Investment and government expenditure remains unchanged.
The purchase of the laptop from China constitutes an import activity. Import increases. But import is a negative function of import, so net export decreases.
Total change in GDP = $1900 + 0 + 0 - $1900 = 0
Why is it important for the business owner to
understand the market they are selling to?
Answer:
So they can advertise to the correct demographic
Explanation:
You have the following information
Salam $1,000
Net profit margin= 5%.
Calculate Net Income
Answer:
$50
Explanation:
Net income will be the difference between the selling price and the Cost price.
Cost price is $1000
net profit margin is 5%, selling price will be
=$1000 + profit margin
= $1000 + (5/100 x 1000)
=$1000 + $50
=$1050
Net income = $1050 -$50
=$50
Warner Clothing is considering the introduction of a new baseball cap for sales by local vendors. The company has collected the following price and cost characteristics.
Sales price $15 per unit
Variable costs 5 per unit
Fixed costs 50,000 per month
Required:
a. What number must Warner sell per month to break even?
b. What number must Warner sell per month to make an operating profit of $34,000 and $8,400. Assume that the company plans to sell 9,000 units per month. Consider requirements (b), (c), and (d) independently of each other.
c. What will be the operating profit?
d. What is the impact on operating profit if the sales price decreases by 10 percent? Increases by 20 percent?
Answer:
a. 5,000 units
b. 8,400 units and 5,840 units
c. $40,000
d. decrease of operating profit by 22.50 % and increase of operating profit by 45.00%
Explanation:
Breakeven point is level at which a firm makes neither profit nor loss
Break even units = Fixed Costs ÷ Contribution per unit
Break even units = 5,000 units
Units to achieve target profit = Target Profit + Fixed Costs ÷ Contribution per unit
Units to achieve profit of $34,000 = 8,400 units
Units to achieve profit of $8,400 = 5,840 units
Operating Profit = Contribution - Fixed Costs
= $40,000
The effect on change of operating profit can be best shown by calculation of the Degree of Operating Leverage (DOL)
DOL = Contribution ÷ Profit
= 2.25
Sales decreases of 10 percent = decrease of operating profit by 22.50 % (10 % × 2.25)
Sales Increases of 20 percent = increase of operating profit by 45.00% (20%× 2.25)
On Monday, all company employees report being unable to connect to the corporate wireless network, which uses 802.1x with PEAP. A technician verifies that no configuration changes were made to the wireless network and its supporting infrastructure, and that there are no outages.
Which of the following is the MOST likely cause for this issue?
A. Too many incorrect authentication attempts have caused users to be temporarily disabled.
B. The DNS server is overwhelmed with connections and is unable to respond to queries.
C. The company IDS detected a wireless attack and disabled the wireless network.
D. The Remote Authentication Dial-In User Service server certificate has expired.
Answer:
D. The Remote Authentication Dial-In User Service server certificate has expired.
Explanation:
In the case when the employees report that the internet is not connected to the network also the technician verifies that there is no configuration changes made for the same so the most likely cause would be that the remote authentication i.e. the certificate of the dial in user server would have been expired
Therefore as per the given scenario, the last option is right
Research and select an organization that effectively implement the disaster recovery and business continuity plan. Identify the list of activities involved in the process and highlight the significance of this plan to the organization.
Answer:
Cyber net is an IT company which provide internet services to its customers and clients. The company has developed disaster recovery plan to avoid any cyber attack and if it happens than alternative business plan.
Explanation:
Disaster recovery plan is crucial for every business. The companies should develop disaster recovery plan in order to avoid any uncertain situation. The plan includes details of the business risks and possible attacks on the IT system of the business. The plan includes immediate resume of business in case of any uncertain event. It is important part of business continuity plan. The DRP process is complex and technical team is required to create DRP.
An internal study by the Technology Services department at Lahey Electronics revealed company employees receive an average of two emails per hour. Assume the arrival of these emails is approximated by the Poisson distribution.
a. What is the probability Linda Lahey, company president, received exactly 1 email between 4 P.M. and 5 P.M. yesterday?
b. What is the probability she received 5 or more emails during the same period?
c. What is the probability she did not receive any emails during the period?
Answer:
0.2706 ; 0.05265 ; 0.1353
Explanation:
Given that :
λ = 2
According to the poisson distribution formula :
P(x = x) = (λ^x * e^-λ) / x!
P(x = 1) = (2^1 *e^-2) / 1!
P(x = 1) = (2 * 0.1353352) = 0.2706
P(x ≥ 5) = 1 - P(x < 5)
1 - P(x < 5) = 1 - [p(x = 0) + p(x = 1) + p(x = 2) + p(x = 3) + p(x = 4)]
We obtain and add the individual probabilities. To save computation time, we can use a poisson distribution calculator :
1 - P(x < 5) = 1 - (0.13534+0.27067+0.27067+0.18045+0.09022)
1 - P(x < 5) = 1 - 0.94735 = 0.05265
P(x ≥ 5) = 1 - P(x < 5) = 0.05265
Probability that no emails was received :
x = 0
P(x = 0) = (2^0 *e^-2) / 0!
P(x = 0) = (1 * 0.1353352) / 1 = 0.1353
Most of the assets were bought a long
time ago and would worth much more
than the books show today.
What is the accounting principle?
Answer:
Historical cost principle
Explanation:
Assets must be recorded at cost value, not market value. When you record an asset, you cannot change its value every period, you have to keep using the historical value. This is why we use a separate account to record accumulated depreciation of assets, so that the purchase cost is always constant, but the net carrying value will vary depending on depreciation expense.
Market value changes and can be very volatile. Imagine a house, whose initial value was $300,000, then it increased to $500,000 but the market went down and its value was $350,000. It would be a mess to change the value and pay capital gains taxes, or then report a loss.
On June 1 of the current year, Chad Wilson established a business to manage rental property. He completed the following transactions during June:
a. Opened a business bank account with a deposit of $30,000 from personal funds.
b. Purchased office supplies on account, $1,800.
c. Received cash from fees earned for managing rental property, $10,000.
d. Paid rent on office and equipment for the month, $4,500.
e. Paid creditors on account, $1,250.
f. Billed customers for fees earned for managing rental property, $16,800.
g. Paid automobile expenses (including rental charges) for the month, $750, and miscellaneous expenses, $980.
h. Paid office salaries, $4,000.
i. Determined that the cost of supplies on hand was $680; therefore, the cost of supplies used was $1,120.
j. Withdrew cash for personal use, $7,500.
Required:
Indicate the effect of each transaction and the balances after each transaction.
Answer:
a.
Assets = Increase $30,000
Liability = No effect
Equity = Increase $30,000
Balances : Cash = $30,000 , Capital = $30,000
b.
Assets = Increase $1,800
Liability = Increase $1,800
Equity = No effect
Balances : Office Supplies $1,800, Trade Payables $1,800
c.
Assets = Increase $10,000
Liability = No effect
Equity = Increase $10,000
Balances : Cash = $40,000, Revenue Earned $10,000
d.
Assets = Decrease $4,500
Liability = No effect
Equity = Decrease $4,500
Balances : Rent Expense $4,500, Cash $35,000
e.
Assets = Decrease $1,250
Liability = Decrease $1,250
Equity = No effect
Balances : Trade Payables $550, Cash $33,750
f.
Assets = Increase $16,800
Liability = No effect
Equity = Increase $16,800
Balances : Revenue Earned $26,800 , Trade Receivables $16,800
g.
Assets = Decrease $1,730
Liability = No effect
Equity = Decrease $1,730
Balances : Automobile expenses $750 , Miscellaneous expenses $980, cash $33,000
h.
Assets = Decrease $4,000
Liability = No effect
Equity = Decrease $4,000
Balances : Office salaries $4,000, cash $29,000
i.
Assets = Decrease $1,120
Liability = No effect
Equity = Decrease $1,120
Balances : Office Supplies $680, Supplies expenses $1,120
j.
Assets = Decrease $7,500
Liability = No effect
Equity = Decrease $7,500
Balances : Cash $21,500, Drawings $7,500
Explanation:
When required to give the effect of transactions, always remember the Accounting Equation : Assets = Equity + Liability
Transactions will affect one or more elements of the this equation. Here is a simple approach to arrive at the effects :
Step 1 : The initial step is to identify the Accounts affected.
Step 2 : Classify the Accounts as either Assets, Liabilities or Equity (Capital and Profit)
Step 3 : Give the Effect (Increase, Decrease or No Effect) on the Elements of the equation.
Which of the following provides a statistical representation of survey data?
O diagram
O table
O graph
O chart
Answer:
it is diagram
Explanation:
The answer is:
table(Trust me)
Pierce Which of the following statements is therefore necessarily true for Pierce? has a concave utility of wealth function, u(x). Pierce prefers prospect X to prospect Y.
a. CE(X) > CE(Y).
b. U(EV(X)) > U(EV(Y))
c. EU(X) < EU(Y)
d. Y is a mean preserving spread of X.
Answer:
A) CE(X) > CE(Y) is the correct answer.
Explanation:
Solution:
Correct Answer is A) CE(X) > CE(Y)
Because:
1. First of all, we are given that Pierce has a concave utility of wealth function u(x) which means Pierce is a kind of person who does not prefer taking risk.
2. Secondly, we are given that he prefers prospect X to Prospect Y.
3. Thirdly, Pierce will always make sure that Certainty Equivalent should be higher than others as Pierce does not want to take risks.
4. Lastly, he prefers X to Y so, he will make sure CE(X) must be greater than CE(Y) .
Hence,
A) CE(X) > CE(Y) is the correct answer.
This question examines the market for mangos. You will use a demand function to construct the demand schedule, calculate the price elasticity of demand at different points along a linear demand curve, and identify the likely effects of price changes on total revenue.
Below, you are provided with the demand function for mangos. If you plug any price into the formula for the demand function, you get the quantity demanded at that price.
Q = 150 – 25P
Task 1. Use the table below to find the quantity of mangos demanded at each price.
Price Quantity of Mangos Demanded
$1
2
3
4
5
Task 2. Calculate the price elasticity of demand when the price falls from $5 to $4.
Task 3. When the price of a mango falls from $5 to $4, does total revenue fall or rise? How do you know?
Task 4. When the price of a mango falls from $3 to $2, does total revenue fall or rise?
Answer:
Task 1. Use the table below to find the quantity of mangos demanded at each price.
For a price of $1, the quantity demanded of mangos is:
Q = 150 - 25 ($1)
Q = 125
For $2:
Q = 150 - 25 ($2)
Q = 150 - 50
Q = 100
For $3
Q = 150 - 25 ($3)
Q = 150 - 75
Q = 75
For $4
Q = 150 - 25 ($4)
Q = 150 - 100
Q = 50
For $5
Q = 150 - 25 ($5)
Q = 150 - 125
Q = 25
Task 2. Calculate the price elasticity of demand when the price falls from $5 to $4.
The formula is
Price Elasiticy of Demand (PED) = ((Q2 - Q1) / (Q2 + Q1) / 2 ) / ((P2 - P1) / ((P2 + P1) / 2)
Now, we plug the amounts into the formula
PED = ((50 - 25) / (50 + 25) / 2) / ((4 - 5) / (4 + 5) / 2)
PED = 0.1666 / -0.0556
PED = -3
We take the absolute value, 3, which is a PED higher than 1, meaning that demand is elastic: the quantity demanded in this case increased more than the price.
Task 3. When the price of a mango falls from $5 to $4, does total revenue fall or rise? How do you know?
Revenue = Price x Quantity
Under the first scenario, revenue = $5 x 25 = $125
Under the second scenario, revenue = $4 x 50 = $200
So revenue increased by $75.
Task 4. When the price of a mango falls from $3 to $2, does total revenue fall or rise?
First scenario = $3 x 75 = $225
Second scenario = $2 x 100 = 200
So revenue actually falls by $25.
B. If as the price of good Y rises from $1.25 to $1.35, the quantities demanded of good X become those shown in column 4, it can be concluded that X and Y are (substitute, complementary) ____________________ goods.
Answer:
If the fall in price of good Y causes demand for good X to fall as well, the goods Y and X are complementary.
Explanation:
Complementary goods are those goods that people tend to buy together, since, as the word implies, they fulfill complementary purposes.
An example of two complementary goods are BBQ Sauce and Meat.
Meat is often used to grill/roast, and it is accompanied with BBQ Sauce. If BBQ Sauce price goes down, it is likely that more of it will be bought as well as more meat. The opposite occurs if the price of either good goes up. Hence, both goods are complementary.
