The wrist watch industry in a country is not very competitive. there are limited brands available and the existing firms use their market power to keep prices high. envy, one of the leading brands in the market, is planning to increase the price from $1,000 to $1,100 per watch. the firm is expecting the quantity demanded to fall by only 7 percent. however, after the price is increased to $1,100, quantity demanded actually declined by 12 percent. sonia, a student of economics, knows that the average income level in this country has increased over the last year. when actual sales of envy watches turn out to be lower than anticipated, she concludes that the income elasticity of demand for envy watches is negative.

her conclusion is flawed because

1.she is confusing between consumer and producer surplus.
2.she is confusing between price elasticity of demand and income elasticity of demand.
3.she is assuming that rival firms have reduced the price of their watches.
4.she is assuming that the government of this country does not import watches.
5.she is ignoring the fact that the cost of production of envy watches could be high.

Acompany's income statement showed the following: net income, $145,000 and depreciation expense, $36,300. an examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $11,500; merchandise inventory increased $22,200; and accounts payable increased $5,500. calculate the net cash provided or used by operating activities. $209,500 $139,000 $176,100 $186,500 $142,100

Why are the four primary service outputs of spatial convenience, lot size, waiting time, and product variety important to logistics management? provide examples of competing firms that differ in the level of each service output provided to customers?

During the year, the delph company had no beginning or ending inventories and it started, completed, and sold only two jobs—job d-75 and job c-100. it provided the following information related to those two jobs: job d-75: molding fabrication total direct materials cost $ 375,000 $ 325,000 $ 700,000 direct labor cost $ 200,000 $ 160,000 $ 360,000 machine-hours 15,000 5,000 20,000 job c-100: molding fabrication total direct materials cost $ 300,000 $ 250,000 $ 550,000 direct labor cost $ 175,000 $ 225,000 $ 400,000 machine-hours 5,000 25,000 30,000delph had no overapplied or underapplied manufacturing overhead during the year. assume delph uses a plantwide overhead rate based on machine-hours.1-a. compute the predetermined plantwide overhead rate.1-b. compute the total manufacturing costs assigned to job d-70 and job c-200.1-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 1-d. what is delph's cost of goods sold for the year? assume delph uses departmental overhead rates based on machine-hours.2-a. compute the predetermined departmental overhead rates.2-b. compute the total manufacturing costs assigned to job d-70 and job c-200.2-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 2-d. what is delph's cost of goods sold for the year?