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Pachacha [2.7K]
2 years ago
8

what situation is occurring if a 1 percent decrease in price results in more than a 1 percent increase in quantity demand?

Business
1 answer:
Mekhanik [1.2K]2 years ago
3 0

Demand is price elastic, is occurring if a 1 percent decrease in price results in more than a 1 percent increase in quantity demand.

<h3>What is price elastic?</h3>

Price elastic of demand means the measurement of the product's demand with respect to its price.

It is common that if the price of a product will increase, the demand will fall, but some products demand fall more than other products, which is measure by price elastic in demand.

Thus, the correct option is demand is price elastic.

Learn more about demand is price elastic.

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4. Why would someone choose to remain a nonemployer?
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Cause they dont want to work and rather get a goverment check for playing around
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3 years ago
The collaborative approach to conflict resolution encourages trust and assertive behaviors, fosters empowerment, and works best
Sergio039 [100]

Answer:

a. True

Explanation:

A conflict refers to a disagreement in ideas or views which creates discord and hampers the normal operations and is injurious to goals of an organization.

A conflict may arise within a department, within a team or with clients and bosses. Resolving such conflicts becomes an essential task.

Under the collaborative approach of conflict resolution, both parties to a conflict intend to find a midway i.e win-win situation. The approach includes arrival of parties to a mutually beneficial result. This is confrontational approach where the solution to the problem is sought.

Such an approach encourages trust and agreement and is more suited when the parties to a conflict are open to resolve it in a direct and equal manner.

6 0
3 years ago
The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $14 per machine
yuradex [85]

Question

The question is incomplete, hence the tutor added a piece of information

The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $14 per machine-hour. What amount would be

Assuming the actual machine hours worked is 3,500

<em>Note the actual machine was added by the tutor</em>

Answer:

Applied overhead =$49,000

Explanation:

<em>Overheads are charged to units produced by the means of an estimated overhead absorption rate. This rate is computed using budgeted overhead and budgeted activity level.  </em>

<em>Pre-determined overhead absorption rate (POAR) = Budgeted overhead/Budgeted machine hours</em>

The POAR is given as $14 per machine hour

Applied (absorbed) overhead = POAR × Actual machine hours

Applied overhead = $14 ×  3,500 =$49000

Applied overhead =$49,000

8 0
3 years ago
Juanita Corporation uses a job-order costing system and applies overhead on the basis of direct labor cost. At the end of Octobe
bezimeni [28]

Answer:

Total Cost of the Job    $

Direct materials             480

Direct labour                  150

Additional labour           100

Applied overhead          600

Total cost                        1,330

The total amount to be transferred to finished goods inventory in November is $1,330.                                

Explanation:

The total cost of the job  is the total of direct material, direct labour, additional labour and manufacturing overhead applied. The additional labour cost is considered because it is required to complete the job.

7 0
3 years ago
Sarasota Company sells on credits goods that cost $310,000 to Ricard Company for $409,500 on January 2, 2020. The sales price in
swat32

Answer and Explanation:

The journal entries are shown below:

Account Receivable $409,500

           To Sales Revenue $367,000

           To Unearned Service Revenue $42,500

(Being account receivable is recorded)

Cost of Goods Sold $310,000

           To Merchandised Inventory $310,000

(Being cost of goods sold is recorded)  

These two journal entries are to be recorded

7 0
3 years ago
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