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Evgen [1.6K]
3 years ago
10

Demand for food doesn't change in response to a change in price. Why?

Business
2 answers:
Alborosie3 years ago
7 0

the answer is D, demand for food is inelastic

garri49 [273]3 years ago
5 0

Answer:

D. Demand for food is inelastic

Explanation:

People will need food. It is a need. The demand does not change as if it is a good.

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At December 31, Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (credit) b
Firlakuza [10]

Answer: $7,740

Explanation:

Given, At December 31, Accounts receivable = $238,000

Allowance for uncollectible accounts = 3% of (accounts receivable)

∴ Allowance for uncollectible accounts = 3% of ($238,000 )

=$(0.03 ×238,000)                [3% = 0.03]

= $ (7140)

= $7,140

Allowance for uncollectible accounts (credit) before any adjustments= $600

The amount of the adjustment for uncollectible accounts = Allowance for uncollectible accounts +  $600

= $7,140 +  $600

= $7,740

Hence, The amount of the adjustment for uncollectible accounts would be: <u>$7,740.</u>

5 0
2 years ago
Suppose that when the average college student's income is $10,000 per year, the annual quantity demanded of Patty's Pizza is 50
kvasek [131]

Answer:

Explanation:

Pizza quantity Change = 60-50 = 10

Income change = $12000 - $10000 = $2000

Mid point of Quantity of Pizza = (50+60)/2 = 55

Mid point of income =  ($12000 + $10000)/2 = $11000

Income elasticity = 10*11,000/2000*55 = 110,000/110,000=1

Pizza is a unit elastic normal good, because percentage change in income = % change in pizza quantity

7 0
3 years ago
Which step in the STP process develops descriptions of the different segments, which helps firms better understand the customer
Nookie1986 [14]

Answer: Step Four - Construct Segments Profile

Explanation:

When practical market segments have been resolved, segment profiles are then created. Segment profiles are point by point depictions of the purchasers in the segments – portraying their needs, behaviors, preferences for the goods, socio economics, shopping styles, etc. This is much similarly that the age accomplices of Baby Boomers, Generation X and Generation Y have a name.

7 0
2 years ago
10) Focused cost leadership is observed when a product has the lowest cost ________. A) within an industry segment B) across the
Nezavi [6.7K]

Answer:

C) within an industry

Explanation:

Cost leadership is being competitive by having lowest cost op operation in the whole industry. This makes the company to offer cheap product to the customers and have an competitive edge in the market. Many big corporation  adopt cost leadership in their strategic marketing campaigns. So, the correct answer is C) within an industry.

3 0
3 years ago
Which form of business organization is established as a separate legal entity from its owners?
Vsevolod [243]
<span>Corporation this is the answer
</span><span>
</span>
7 0
3 years ago
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