An Invoice in the Amount of $600

question 134

Multiple Choice

An invoice in the amount of $600.00 for merchandise purchased is shown with a 4/10,n/30 discount.To get the discount,the amount to pay on or before the tenth day is:

• A) $552.50.
• B) $540.25.
• C) $576.00.
• D) $600.00.

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Definitions:

Income Elasticity of Demand

A gauge for the sensitivity of demand for an item to shifts in the income levels of buyers.

Sapphire Pendant Necklaces

Jewelry items consisting of pendants made from the gemstone sapphire, typically hung on a chain or necklace.

Income Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in consumers' income, expressed as a percentage change in demand divided by the percentage change in income.

Inferior Good

is a type of good whose demand decreases when consumer income rises, unlike normal goods, for which demand increases when income rises.