The supply of aged cheddar cheese is inelastic, and the supply of bread is elastic. Both goods are considered to be normal goods by a majority of consumers. Suppose that a large income tax increase decreases the demand for both goods by 10 percent.
Answers
Given that the supply of aged cheddar cheese is inelastic, and the supply of bread is elastic, and both goods are considered to be normal goods by a majority of consumers.
Suppose that a large income tax increase decreases the demand for both goods by 10 percent. Impact of large income tax increase on the market of aged cheddar cheese:
As the supply of aged cheddar cheese is inelastic, and a large income tax increase decreases the demand for it by 10 percent, the following will occur:
As a result of the income tax increase, the demand for aged cheddar cheese will decrease by 10%.
The quantity of aged cheddar cheese will decrease by a small amount, whereas the price will decrease slightly.
Impact of large income tax increase on the market of bread:
As the supply of bread is elastic, and a large income tax increase decreases the demand for it by 10 percent, the following will occur:
As a result of the income tax increase, the demand for bread will decrease by 10%.
The quantity of bread will decrease by a larger amount, whereas the price will decrease substantially as there is plenty of supply.
Therefore, from the above discussion, it can be concluded that the impact of a large income tax increase on the market of aged cheddar cheese and bread differs considerably as aged cheddar cheese is an inelastic good and bread is an elastic good.
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Related Questions
ALL of the following are advantages of labour intensive production EXCEPT:
Skilled workers take time to train
Workers are often more motivated
Less expensive machine cost
Humans can use their initiative to solve problems
Answers
Answer:
skilled workers take time to train
Explanation:
this means that a lot of time is spent on training which te would have been invested in production
With regard to a particular gene the percentages of genotypes AA, Aa, aa in a particular population are respectively 60% 30% and 10%. Furthermore the percentages of these genotypes that contract a certain disease are respectively 1% 5% and 20%.
Answers
In the particular population, the percentages of genotypes for a specific gene are as follows: AA (60%), Aa (30%), and aa (10%). Additionally, the percentages of these genotypes that contract a certain disease are as follows: AA (1%), Aa (5%), and aa (20%).
These percentages provide information about the association between the genotypes and the disease. We can observe that the disease is more prevalent in individuals with the aa genotype (20%) compared to those with the Aa genotype (5%) and the AA genotype (1%). This suggests that the aa genotype is associated with a higher risk of contracting the disease.
It is important to note that the percentages mentioned reflect the frequency of the genotypes and the disease within the specific population under consideration. The relationship between genotypes and diseases can vary in different populations and may be influenced by various factors such as genetic variations, environmental factors, and interactions with other genes.
Understanding the association between genotypes and diseases can provide valuable insights for medical research, genetic counseling, and personalized medicine, as it helps in identifying individuals who may be at higher risk and developing targeted interventions or treatments.
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you have 30 years left until retirement and want to retire with $1.2 million. your salary is paid annually, and you will receive $62,000 at the end of the current year. your salary will increase at 3 percent per year, and you can earn a return of 9 percent on the money you invest. if you save a constant percentage of your salary, what percentage of your salary must you save each year? (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Answers
You need to save 25.20% of your salary each year to retire with the $1.2 million in 30 years, assuming 3% annual salary increase and 9% annual return on your investments.
What is salary?A salary is a fixed amount of money that an employer agrees to pay an employee in exchange for their work. Typically, salaries are paid on a regular basis, such as weekly, biweekly, or monthly. The amount of the salary is usually based on factors such as the employee's job duties, skills, experience, and the prevailing wage rates for similar work in the industry and location. Salaries are often negotiated as part of the hiring process or during performance reviews, and can be influenced by factors such as the employee's performance, the company's financial situation, and market conditions. Benefits such as health insurance, retirement plans, and paid time off may also be included as part of an employee's overall compensation package. Overall, a salary is a key component of an employee's financial stability and can have a significant impact on their quality of life.
Year 1: $62,000
Year 2: $62,000 x 1.03 = $63,860
...
Year 30: $158,565.77
PV = (PMT / r) x [1 - (1 + r) ^ (-n)]
PMT = (PV x r) / [1 - (1 + r) ^ (-n)]
PMT = ($1.2 million x 0.09) / [1 - (1 + 0.09) ^ (-30)] = $15,632.84
Therefore, you need to save $15,632.84 per year to retire with $1.2 million in 30 years.
Percentage of salary to save = ($15,632.84 / $62,000) x 100% = 25.20%
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2. Mr Ralston, a retired postal worker, took his trolley to the check-out at Tip-Top Supermarket. When the cashier started to enter his purchases in the cash-register, Mr. Ralston realized that he had forgotten his wallet at home and stopped the cashier from tallying his groceries. The cashier called his supervisor and reported the incident. The supervisor insisted that Mr Ralston had committed himself to purchasing the groceries and was obligated to pay for the goods. Furthermore, he threatened to take legal action against Mr Ralston if payment was not immediately forthcoming for the items bought.
a. i. Did Mr Ralston’s action constitute a contract?
ii. Give ONE reason to support your view.
b. Describe TWO essential features of a simple contract which should be taken into account
in this case.
c. i. State whether the supervisor would be likely to succeed should he proceed with
legal action.
ii. Discuss whether top management is likely to agree with the supervisor’s position.
Can someone please help me with this. Thank you!
Answers
Mr Ralston’s action didn't constitute a contract in this case,since he hasn't taken the goods away and the groceries haven't been tallied.
What is a contract?It should be noted that a contract simply means an agreement between private parties that's enforceable by law.
In this case, Ralston’s action didn't constitute a contract in this case,since he hasn't taken the goods away and the groceries haven't been tallied.
The features of a contract that should be taken into consideration include acceptance and internation to create legal relations.
The supervisor would not likely succeed should he proceed with legal action.
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Leadership ability is important to managers because
a-business will not hire a manager without leadership skills
b-leadership helps managers satisfy employees needs while also meeting the goals of the business
c- managers must get work done whether or not employees want to do it
Answers
Emily wants to find out how to use her savings to make more money. She goes online and finds a great Web site about
doubling your money every day. This information is
reliable and relevant
unreliable and relevant
reliable but Irrelevant
unreliable and irrelevant
Answers
Answer:
When Emily wants to find out how to use her savings to make more money. She goes online and finds a great Web site about doubling your money every day.
Unreliable and relevant
Explanation:
The reasons behind this answer are that at the first pace is relevant because she was looking for a place to use her savings to make more money. However, this is not a very reliable source of information because it is a random website and has no way to verify the authenticity and security of the operations that she could potentially make on it.
Unreliable and relevant
Explanation:
First off it is Very Unreliable because you cant just double your money, that money will NEED to be earned by work which takes time, This is relevant because it seems like a relevant idea to people to just double money but just because this is relevant does not make it Reliable, therefore making this Answer "Unreliable and relevant."
If you wait until you're 45 to begin investing, how much money will you need to invest, just for retirement, per
year
Answers
Answer:
It is difficult to give a specific amount that you would need to invest per year if you start investing at age 45 for retirement, as this will depend on a number of factors such as your retirement goals, the amount of money you will need to live on during retirement, the age at which you plan to retire, and your expected investment returns.
In general, it is recommended to start saving and investing for retirement as early as possible, as this will give you more time to grow your money through compound interest. The longer you have to save, the less you will need to save each year to reach your retirement goals. For example, if you start investing at age 25 and plan to retire at age 65, you will have a longer time horizon than someone who starts investing at age 45 and plans to retire at the same age.
To determine how much you should be investing for retirement, you can use a retirement calculator to input your specific retirement goals and assumptions about your investment returns. This will give you an idea of how much you should be saving each year to reach your retirement goals.
It is also a good idea to consult with a financial planner or advisor, who can help you develop a personalized retirement plan based on your individual circumstances and goals.
Explanation:
A manufacturer of ophthalmic lasers currently sells its product in the United States and Europe. The firm has noted, however, that hospitals in developing countries are now interested in having this technology. This represents a(n) ______ for this firm.
Answers
This represents a competitive advantage for this firm.
What is Competitive advantage?These are the factors which allow a company to generate more
sales or superior margins when compared to its market rivals.
All production companies have their various rivals which
produce similar products. In cases where a company has more
sales and customer interests , the company is said to have a
competitive advantage over the others.
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Analyze why the scenario below fails to meet the criteria for a SWOT analysis:
The farming co-op determines that it needs to borrow $100,000 for new equipment to plant cherry orchards. The FFA (Future Farmers of America) is eager to help with the planting. However, the price of farmland has increased astronomically in the past five years as suburbanites have moved farther into the country.
Answers
Answer:
i am looking for it.
Explanation:
To perform this task, Jerrilyn needs to understand the differences among current customers, non-users, and ideal customers. What task is she performing
Answers
The task that Jerrilyn is performing is market segmentation. Market segmentation is the process of dividing a market into smaller groups of consumers with similar needs or characteristics.
By understanding the differences among current customers, non-users, and ideal customers, Jerrilyn can create specific marketing strategies to target each group effectively.
Non-users are individuals who have not purchased the product or service but may be interested in it. Ideal customers are individuals who have not only purchased the product or service but have also become loyal advocates for the brand.
By segmenting the market, Jerrilyn can tailor the marketing mix to each group's needs, preferences, and behaviors. This can include developing specific messaging, product features, pricing, and distribution strategies that resonate with each segment.
Market segmentation can help businesses achieve several benefits, including better customer retention, increased customer satisfaction, higher conversion rates, and improved ROI on marketing efforts. Therefore, Jerrilyn's task is crucial for any business looking to improve its marketing strategy and grow its customer base.
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convert the following temperature to Celsius scale (a) 450 k, (b) 273 k, (c) 73 k.
Answers
Answer: See explanation
Explanation:
To convert to Celcius scale from Kelvin, the formula to use is:
Temperature in Celcius = Temperature in Kelvin - 273
a. 450k
Temperature in Celcius = Temperature in Kelvin - 273
= 450 - 273
= 177°Celcius
(b) 273 k
Temperature in Celcius = Temperature in Kelvin - 273
= 273 - 273
= 0°C
(c) 73 k
Temperature in Celcius = Temperature in Kelvin - 273
= 73 - 273
= -200°C
A theater has fixed operating costs, such as electricity, salaries, and rent. What is this break-even point called
Answers
The fixed operating cost in the question is one of the requirement to be used to calculate the Break even units not the break-even point.
Usually, the break-even point is the point where the total revenue equals the total costs of the business.
In other word, the break-even point means that the expenses and revenue are equal and thus, the company will record neither a net loss or gain.
The formula used to derive the Break even unit is [Fixed Costs / (Sales price per unit – Variable costs per unit)}
Therefore, the fixed operating cost in the question is one of the requirement to be used to calculate the Break even units not the break-even point.
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I will mark brainliest Which of the following terms directly relate to business? (Select all correct answers.)
1. manufacturer
2. oracular
3. naturalist
4. retailer
Answers
Answer:
1. manufacturer
4. retailer
Explanation:
The manufacturer refers to a company that produces goods and services in a factory or plant for sale. The term manufacturer may also mean the owners of such a factory. A manufacturer converts raw materials to finished products and sells them for a profit. They are involved in a business.
A retailer is a business person who sells goods to consumers. Retailers buy from other businesses such as wholesalers. Large scale retailers such as supermarkets and departmental stores buy from manufacturers.
Answer:
It's manufacturer and retailer
Explanation:
I took a quiz with the same question and I got it correct, so you can rely on my answer.
true or false: if wage contracts have short duration, it would make the recession induced by contractionary monetary policy more severe.
Answers
The given statement is true that if wage contracts have short duration, it would make the recession induced by contractionary monetary policy more severe.
Wage contracts are legal agreements between an employer and an employee that govern the terms and circumstances of employment, specifically the pay or wages to be received for work completed.
These agreements detail the agreed-upon compensation, wage rate, or payment structure, as well as any additional benefits or incentives. If a salary contract has a short duration, it suggests that it is renegotiated regularly, usually within a year or even less.
When a contractionary monetary policy, such as hiking interest rates to combat inflation, is undertaken in such a setting, it can lead to a more severe recession.
Wage contracts with limited durations are subject to renegotiation quite rapidly. Businesses facing decreased demand and less profitability may be more willing to negotiate salary reductions or freeze wages entirely during a recession.
Short-term wage contracts can exacerbate the recession caused by contractionary monetary policy by allowing for faster adjustments in labor costs, potentially leading to more dramatic wage cutbacks and a deeper economic downturn.
Therefore, it is true regarding the wage contract.
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This information will be used for two questions! Sand Key Development Company has a capital structure consisting of $20 million of 10% debt and $30 million of common equity. The firm has 500,000 shares of common stock outstanding. Sand Key is planning a major expansion and will need to raise $15 million. The firm must decide whether to finance the expansion with debt or equity. If equity financing is selected, common stock will be sold at $75 per share. If debt financing is chosen, 5% coupon bonds will be sold. The firm's marginal tax rate is 34%. Determine the level of operating income at which Sand Key would be indifferent between debt financing and equity financing.
a. $5,675,000
b. $6,200,000
c. $5,150,000
d. $4,625,000
e. $6,725,000
Answers
Given that the cost of debt financing is $495,000, we need to find the level of operating income at which the cost of equity financing would also be $495,000
To determine the level of operating income at which Sand Key would be indifferent between debt financing and equity financing, we need to calculate the cost of debt financing and the cost of equity financing.
1. Cost of debt financing:
- The debt financing is in the form of 5% coupon bonds.
- The interest expense on the debt financing is calculated by multiplying the debt amount by the coupon rate: $15 million * 5% = $750,000.
- Since interest expense is tax-deductible, the after-tax cost of debt is calculated by multiplying the interest expense by (1 - tax rate): $750,000 * (1 - 0.34) = $495,000.
2. Cost of equity financing:
- The equity financing is through the sale of common stock at $75 per share.
- The number of shares needed to be sold to raise $15 million is calculated by dividing the required amount by the stock price: $15 million / $75 = 200,000 shares.
- The cost of equity financing is the required return on equity, which can be calculated using the Gordon Growth Model or the Capital Asset Pricing Model (CAPM). However, the information provided does not include the required return on equity, so we cannot determine the exact cost of equity financing.
Given that the cost of debt financing is $495,000, we need to find the level of operating income at which the cost of equity financing would also be $495,000.
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The manager of TechTack Inc. Wants to determine a cost formula for their receiving costs. Cost analysis has determined that these costs are mixed and must be broken into their fixed and variable components. Receiving Orders Processed has been selected as the activity driver for the receiving costs. The following data for the last eight (8) month period have been collected: Receiving Month Orders Receiving Costs Processed February 53,900 $194,100 March 17,250 $128,300 April 10,780 $129,400 May 59,300 $194,100 June 28,030 $150,900 July 56,060 $183,300 August 10,800 $118,600 September 48,510 $237,200 Using the high-low method, prepare a cost formula for the power costs. What is the variable cost per activity? Be sure to round to the nearest penny (2 decimal places). A Part 2: What is the fixed costs per month? Be sure to round to the nearest dollar (whole number). In addition, be sure to use the rounded answer from Part 1 for the variable costs in order to calculate the fixed costs! NOTE: you can use the high or the low point in order to calculate the fixed costs. A Part 3: Using your answers to Part 1 and 2, develop a cost formula. Using that cost formula, calculate the total predicted costs if the level of activity was 46,850. Round your answer to the nearest dollar (whole number). Part 4: Develop an annual cost formula for receiving costs. What is the variable cost per activity in your cost formula? Be sure to round to the nearest penny (2 decimal places)? A/ What is the fixed costs in the annual cost formula for receiving costs? Round your answer to the nearest dollar (whole number) answer
Answers
The variable cost per activity, calculated using the high-low method, is $2.80. The fixed costs per month, calculated based on the rounded answer from Part 1, is $92,070.
To calculate the variable cost per activity using the high-low method, we need to find the difference in costs and activity levels between the highest and lowest data points. From the given data, the highest level of activity is in May with 59,300 orders processed, and the lowest level is in April with 10,780 orders processed. The corresponding costs for these months are $194,100 and $129,400, respectively.
The difference in costs is $194,100 - $129,400 = $64,700, and the difference in activity is 59,300 - 10,780 = 48,520. Dividing the cost difference by the activity difference gives us the variable cost per activity: $64,700 / 48,520 ≈ $2.80.
To calculate the fixed costs per month, we can choose any data point from the given information. Let's use the August data, where the number of orders processed is 10,800 and the total cost is $118,600. Subtracting the variable cost component from the total cost gives us the fixed costs: $118,600 - (10,800 * $2.80) = $92,070.
Using the variable cost per activity ($2.80) and fixed costs per month ($92,070), we can develop a cost formula. The cost formula is: Cost = ($2.80 * Orders Processed) + $92,070.
For Part 3, if the level of activity is 46,850, we can substitute this value into the cost formula to calculate the total predicted costs: ($2.80 * 46,850) + $92,070 = $223,295.
To develop an annual cost formula for receiving costs in Part 4, we need to consider the annual activity level. Assuming there are 12 months in a year, we can multiply the variable cost per activity by the total annual activity level. Using the variable cost per activity ($2.80) and the total annual activity level (sum of orders processed for all months), we can calculate the variable costs in the annual cost formula. The fixed costs for the annual cost formula would remain the same as the fixed costs per month ($92,070).
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Investors in middle management are most likely to be investing because they're nearing retirement or Question 4 options: they're bored. they can offer a high ROI. they're failed entrepreneurs. they're senile.
Answers
Answer:
high ROI
Explanation:
Answer: Bored
Explanation:
"Middle managers. Angels in middle management positions start investing in small businesses for two major reasons—either they’re bored with their jobs and are looking for outside interests, or they are nearing retirement, or fear they are being phased out." Quote from Textbook
5.
An efficient economy is one that
Ouses its resources to make the most goods and services.
Ohas very few people who do not work for a living.
Omake it possible to increase an economy's output.
Omakes the best use of all its goods and services.
I
Answers
Alex owns an event management company. His customer service strategy should focus on valuing customers for the growth of the company.
Answers
Answer:
The correct answer is: "D. Both external and internal".
Explanation:
The only possible answer to fill in the space is letter D because it is reasonable to think that a company should focus both on external and internal values for customers in order to make it grow for both parts. As it is an event management company, it is very important to highlight the external demands and how they come and go with clients, agencies, and subsidiaries, while the company must take care of their internal customers who are more responsible for maintaining their strategy going on properly.
Jobs that require lower level skills have better benefits, like health insurance, than jobs that require a college education. Please select the best answer from the choices provided T F
Answers
Answer:
False, jobs requiring a higher level of education have more benefits than jobs that require minimal education.
Answer: f
Explanation:
Describe the process, in your own words of an intra-entity land
transfer and the journal entries needed.
Answers
An intra-entity land transfer involves the transfer of land from one unit of the same company to another. The transfer can be done at cost or fair value.
Here's the process of an intra-entity land transfer and the journal entries required:Process of an intra-entity land transfer1. Identify the land to be transferred.2. Decide whether to transfer the land at cost or fair value.3. Document the transfer agreement.4. Record the land transfer with the corresponding journal entries. Journal entries requiredWhen land is transferred at cost:Transfer from Unit A to Unit B: Debit Land (Unit B) Credit Land (Unit A)When land is transferred at fair value:Transfer from Unit A to Unit B: Debit Land (Unit B) Credit Land (Unit A) Debit Gain on Sale of Land Credit Land (Unit B) orTransfer from Unit A to Unit B: Debit Land (Unit B) Credit Land (Unit A) Debit Loss on Sale of Land Credit Land (Unit B) orThe appropriate income statement account if there is a loss on the sale of the land.
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FCCLA's central focus is on the ________.
Answers
Answer:
variety of youth concerns
Answer:
To promote personal growth and leadership development through Family and Consumer Sciences education
Which of these are undergraduate degrees?
A.) master's
B.) doctorate
C.) bachelor's
D.) associate's
(please help :D)
Answers
Answer:
Bachelor's and Associate's
Explanation:
What are the top 3 children's hospitals?
Answers
The top 3 children's hospitals are: Boston Children's Hospital, Children's Hospital of Philadelphia and Children's National Hospital.
1. Boston Children's Hospital: Located in Boston, MA, Boston Children's Hospital is the number one pediatric hospital in the United States. It treats more than 1 million patients each year and has world-renowned specialists and subspecialists in every area of pediatric care. It also has a cutting-edge research program and offers clinical trials and innovative treatments.
2. Children's Hospital of Philadelphia: Located in Philadelphia, PA, Children's Hospital of Philadelphia (CHOP) is the oldest pediatric hospital in the United States. It is a top-ranked children's hospital and offers a full range of services from routine check-ups to groundbreaking treatments for rare and complex medical conditions. CHOP also has an extensive research program and is the leading provider of pediatric clinical trials in the country.
3. Children's National Hospital - Situated in Washington, D.C., this children's hospital is a leading provider of pediatric healthcare services. It is known for its commitment to improving the health of children and is recognized for its innovative research and state-of-the-art medical facilities.
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Why has FDI increased in developing countries?
Answers
The low labor and production costs in the country of destination are the key drivers of foreign direct investments. FDI is essential for economic expansion.
A target country's economic development can be boosted by FDI, which can also improve business conditions, attract investors, and boost the local economy and community. Foreign direct investments (FDI) are capital inflows into an economy from another nation with the goal of acquiring a long-term management stake in the company, other than the investor's. It is the total of the balance of payments' representations of capital reserves, earnings reinvested, other long-term assets, and short capital.
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HELPP on question 10
Answers
Answer:
land?
Explanation:
Answer:
Land
Explanation:
A major conflict of interest between top executives and owners is that top executives wish to diversify the firm in order to __________, whereas owners wish to diversify the firm in order to __________.
Answers
The major conflict between the top executive and owners is that the top executive wants to reduce their employment risks.
What is the cause of conflict between the top executive and owners in the business industry?In a business industry, the major cause of conflict between the top executive and the owners is due to the disparities in their objectives and goals.
While the top executive wishes to diversify the firm in order to reduce their employment risks, the owners wish to diversify the firm to increase the company's value. Both parties must come together with a cordial relationship to achieve a common goal.
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Magic Events, Inc. is a global concert promoter that is organizing the world concert tour of the newest boy band. The company has a global reputation for generating the highest revenues for their entertainers based on lucrative event triangles. What is the most critical factor in a successful event triangle?
A.
as much advertising to fans as possible
B.
mutually beneficial exchanges
C.
selling as much merchandise as possible
D.
choosing the right sponsors
Answers
Answer:
A. as much advertising to fans as possible
Explanation:
The event triangle is made up of these 3 components
1. The participants
2. The sponsors
3. The spectators
Here the fans represent the spectators. They are the most critical factor of the event triangle .
The spectators are those who the boy band would be playing for. They are the ones who would go out to watch the event.
The spectators become monetary when the advertisement gets them to buy tickets for the event. That is they pay a fee to watch the event.
Primarily they provide necessary financial support for the event plus the money made from adverts.
The prosecutor replies that the Bill of Rights does not protect you from state actions. Is the prosecutor correct? Why or why not
Answers
Answer:
I would say no, because the bill of rights refers to ALL Americans. I might be wrong tho.
Hudson has to maintain confidential financial accounts in a workbook. He needs two team members to help him update data in the specified worksheet. He wants to prevent his team from deleting or updating the confidential data in certain cells. Which tab on the Format Cells dialog box will enable him to lock these cells?
A. Cell Pattern
B. Cell Protection
C. Cell Prevent
D. Cell Format
help LOLL
Answers
Answer:
option c
Explanation:
please follow me
Answer:
B
Explanation:
just took the test