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2 years ago

When a 1 percent decrease in price produces more than a 1 percent increase in quantity sold, the product or service is

2 answers:

7 0

When a 1 percent decrease in price produces more than a 1 percent increase in quantity sold, the product or service is an Elastic Demand.

<h3>What is an Elastic Demand?</h3>

Elastic demand is measured by its percent of change in demand divided by its percent of change in price, provided all other factors remain the same.
If the change in price and change in demand is proportionate, the item is neither elastic nor inelastic.
An item has elastic demand if its demand changes more than its price changes.

For example, if two stores sell identical products of the same amount for different prices, incase of a perfectly elastic demand nobody would buy from the seller with higher priced product.

Learn more about Elastic Demand here:

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Lemur [1.5K]2 years ago

7 0

When a 1 per cent decrease in price produces more than a 1 per cent increase in quantity sold, the product or service is an Elastic Demand.

<h3>What is an Elastic Demand?</h3>

Elastic demand is measured by its per cent of change in demand divided by its per cent of change in price, provided all other factors remain the same.

If the change in price and change in demand is proportionate, the item is neither elastic nor inelastic.

An item has elastic demand if its demand changes more than its price changes.

For example, if two stores sell identical products of the same amount for different prices, in case of a perfectly elastic demand nobody would buy from the seller with a higher-priced product.

Learn more about Elastic Demand here:

brainly.com/question/14897348

#SPJ4

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Which answer option is not a job function associated with a corporate finance department?

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4. As it is not the finance departments job to keep up with reputation and how they look.

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2 years ago

Do different societies require different amounts of societal resources?

Alex787 [66]

Answer:

Yes, different societies require different amounts of societal resources. Explanation:

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3 years ago

Company A manufactures and sells extreme sports gear. Its website includes a place for customers to post reviews of its products

erik [133]

Answer:

personal selling

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2 years ago

Each of the following is an example of a significant noncash activity except Group of answer choices conversion of bonds into co

Maurinko [17]

Answer: stock dividends

Explanation:

Noncash investing and financing activities are simply referred to as the significant investing and financing activities which doesn't affect cash directly.

The activities involved here include, stockholders equity etc. and they are typically found at bottom of cash flow statement.

Based on the options given, the example of a significant noncash activity will include conversion of bonds into common stock, exchanges of plant assets and the issuance of debt to purchase assets.

Therefore, the correct option will be stock dividends.

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3 years ago

An analysis of comparative balance sheets, the current year's income statement, and the general ledger accounts of Wellman Corp.

RUDIKE [14]

Answer:

Explanation:

There are three types of activities in the cash flow statement which are described below:

1. Operating activities: It includes those transactions which affect the working capital after net income. The increase in current assets and a decrease in current liabilities would be deducted whereas the decrease in current assets and an increase in current liabilities would be added.

These changes in working capital would be adjusted. Moreover, the depreciation expense is added to the net income and the dividend and interest is received is recorded in this activity.

The loss and gain on sale of the assets is also recorded and amortization on intangible asset is also recorded

2. Investing activities: It records those activities which include purchase and sale of the long term assets. The purchase is an outflow of cash whereas sale is an inflow of cash

3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance. The issue of shares is an inflow of cash whereas redemption and dividend is an outflow of cash.

The categorization is shown below:

(1) Exchange of land for patent - Non-cash investing and financing activity as it does not involve any cash transaction

(2) Sale of building at book value - Investing activity

(3) Payment of dividends - Financing activity

(4) Depreciation - Operating activity

(5) Receipt of dividends on investment in stock - Operating activity

(6) Receipt of interest on notes receivable - Operating activity

(7) Issuance of capital stock - Financing activity

(8) Amortization of patent - Operating activity

(9) Issuance of bonds for land - Non-cash investing and financing activity as it does not involve any cash transaction

(10) Purchase of land - Investing activity

(11) Conversion of bonds into common stock - Non-cash investing and financing activity as it does not involve any cash transaction

(12) Loss on sale of land - Operating activity

(13) Retirement of bonds - Financing activity

7 0

3 years ago