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2 years ago

If the demand for product x is inelastic, a 4 percent decrease in the price of x will.

Business

1 answer:

NeTakaya2 years ago

3 0

A 4 percent decrease in the price will lead to an increase in the quantity demanded by less than 4 percent.

<h3>What is demand?</h3>

Demand simply means the amount of goods and services that a buyer wants to buy at a particular price and time.

When the demand for product x is inelastic, a 4 percent decrease in the price of x will lead to an increase in the quantity demanded by less than 4 percent.

Learn more about demand on:

brainly.com/question/1245771

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if you’ve just recovered from prostate cancer within the last few years, an insurance company might require you to pay a 20% ext

lesya692 [45]

Answer:

Gross premium = $100

Monthly Net premium = $70

Therefore 70 x 12 x 3 = 2,520

= 20% of 2, 520

2,520/100 x 20/1

GMP (Gross Monthly Premium) = $540

4 0

3 years ago

Boba, a Taiwanese tea drink, because boba is popular with students. The market for boba on the UCI campus is very competitive. I

navik [9.2K]

Answer:

1. c. has no control over the price it pays, or receives,in the market

2. c. firms are at the mercy of market forces.

3. buyers can expect to find consistently low prices and wide availability of the good that they want.

Explanation:

A competitive market has the following characteristics.

1. Firms are price takers. They do not set the price for their goods and services. They accept the price set by market forces. Price is set where the demand curve intersects the supply curve.

2. There are no product differentiation. All sellers sell identical goods and services.

3. There are no barriers to entry or exit of firms in the industry.

4. Firms make zero economic profit in the long run.

5. There are many sellers and buyers.

I hope my answer helps you.

6 0

3 years ago

A company has two segments with total sales of $500,000 and total variable costs of $343,750. Traceable fixed expenses are $50,0

Schach [20]

Answer:

$416,000

Explanation:

The computation of the break even in dollars for the company is given below:

Total fixed expenses = Traceable fixed expenses + Common fixed expenses

= $50,000 + $80,000

= $130,000

Now

Contribution margin ratio = (Sales - Variable costs) ÷Sales × 100

= ($500,000 - $343,750) ÷ $500,000 × 100

= 31.25%

Now

Break-eve dollars = Fixed expenses ÷ Contribution margin ratio

= $130,000 ÷ 31.25%

= $416,000

4 0

3 years ago

Landseeker's Restaurants reported cost of goods sold of $338 million and accounts payable of $68 million for 2020. In 2019, cost

erma4kov [3.2K]

Answer:

5.45 times

Explanation:

The computation of the accounts payable turnover ratio is shown below:

= Cost of goods sold ÷ average accounts payable

where,

Average accounts payable = (Opening balance of Accounts payable + ending balance of Accounts payable) ÷ 2

= ($56 million + $68 million) ÷ 2

= $62 million

And, the net credit sale is $338 million

Now put these values to the above formula

So, the answer would be equal to

= $338 million ÷ $62 million

= 5.45 times

3 0

3 years ago

A company's assets are in May are $188,000 and June $244,000 and the liabilities are $122,000 in May and $88,000 in June.

Snowcat [4.5K]

Answer:

a. $82,500

b. $103,000

c. $88,000

Explanation:

We know that

Total assets = Total liabilities + stockholder equity

And the assets and liabilities of May and June are given

So For May

The stockholder equity would be

= $188,000 - $122,000

= $66,000

And for June

The stockholder equity would be

= $244,000 - $88,000

= $156,000

So net increase would be

= $156,000 - $66,000

= $90,000

a. The stock is issued for $7,500

So, the net income would be

= $90,000 - $7,500

= $82,500

b. The cash dividend is paid for $13,000

So, the net income would be

= $90,000 + $13,000

= $103,000

c. Common stock is issued for $20,000 and cash dividend is paid for $18,000

So, the net income would be

= $90,000 - $20,000 + $18,000

= $88,000

5 0

3 years ago