Answer:
Demand for business goods tends to be me more inelastic than demand for consumer goods
Explanation:
Price elasticity of demand is a measure of the sensitivity of demand for a good or service to changes in the price of that product. We say that the price elasticity of demand is elastic when a percentage change in the price of this good has major impacts on demand. On the contrary, we say that the price elasticity of demand is inelastic when variations in the price of goods have little or no influence on demand.
Elasticity is associated with tastes and the immediate need for consumption by the economic agent. For example, medicines have a more inelastic (less price sensitive) demand because they are essential items. However, in most cases, consumer transactions are opnative for consumers. However, in the case of business transactions, there is usually a need to demand good even though the price is high. As a result, the demand for business transactions is often more inelastic than the demand from ordinary consumers.
For example, imagine the airline ticket market. A consumer travels for leisure and an executive travels for work. If the ticket is expensive, the consumer may give up the trip. This means your demand for travel is elastic (price sensitive). However, the executive has little room to give up business travel and tends to travel even if the price is higher. Therefore, business transactions are more inelastic.
Answer:
630,000 units and 678,000 units
Explanation:
The computation of the equivalent units for material cost and for conversion cost is shown below:
For material cost
= Units transferred × completion percentage + ending work in process units × completion percentage
= 630,000 units × 100% + 120,000 units × 0%
= 630,000 units + 0 units
= 630,000 units
For conversion cost
= Units transferred × completion percentage + ending work in process units × completion percentage
= 630,000 units × 100% + 120,000 units × 40%
= 630,000 units + 48,000 units
= 678,000 units
It seems that you have missed the necessary options for us to answer this question, so I had to look for it, so here is the answer. <span>Consumer’s expectations of doing new things with varied kinds of information in ways that create value have resulted in the emergence of ON-DEMAND MARKETING. Hope this helps.</span>
Explanation:
The journal entries are shown below:
1. Sales return and Allowances A/c Dr $400
To Account receivable A/c $400
(Being the returned inventory is recorded)
2. Merchandise inventory A/c Dr $100
To Cost of Goods sold A/c $100
(Being the cost of inventory is recorded)
Since the merchandise inventory is returned for $400 and the same is recorded and together with the cost of the merchandise inventory is also recorded
Answer:
The range will be "-2.0% to 14.8%". A further explanation is given below.
Explanation:
According to the question,
For 68%, the range seems to be +/- 1 standard deviation of the mean. So that the upper as well as the lower range will be:
Upper range,
=
= (%)
Lower range,
=
= (%)
So that the range would be between "-2.0% to 14.8%".