Question

Based on the Income Statement below answer the following question:
What is the Net profit ratio for the year 2019?
* for your answer round to two decimals DO NOT use percentages dollar signs nor commas. USE
periods. Le, (011)
MY FACTORY INCORPORATED
INCOME STATEMENT
Os theounds of dollars)
Fiscal Year
2018
2019
$2.284.911
$1125344
Revenues
Costs and expensen
Cost of sales
Labor expenses
Other Sprin costs and Rest
General and administrative spens.
Depreciation and amortization espesse
Impairment of asses
Preopening costs
Total costs and espeet
Income from operations
Interest espessse
Interest le.com
Other expenso incompet
Income before hea
ovision
Net income
583.008
6118
45603
125.122
953
2011
13.229
454141
190 699
49195
105 103
29354
5.661
393
1095
211
4293​

Answer 1

Answer:

A positive cross elasticity of demand means that the demand for good A will increase as the price of good B goes up. This means that goods A and B are good substitutes, so that if B gets more expensive, people are happy to switch to A. An example would be the price of milk.