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Solnce55 [7]
2 years ago
14

The total-revenue test for elasticity Multiple Choice applies to the short-run supply curve but not to the long-run supply curve

. does not apply to demand, because price and quantity are inversely related. is equally applicable to both demand and supply. does not apply to supply, because price and total revenue have a positive correlation.
Business
1 answer:
Korvikt [17]2 years ago
4 0

Because price and total revenue always move simultaneously, the total revenue test for elasticity does not apply to supply.

<h3>A total revenue test: what is it?</h3>

A total revenue test calculates the change in total revenue due to a change in a product or service's price in order to estimate the price elasticity of demand.

<h3>What connection does elasticity have with total revenue?</h3>

When demand is elastic (price elasticity > 1), there is a negative relationship between price and total revenue, which means that price increases will result in drops in total revenue. When demand is unit elastic (price elasticity = 1), price changes have no impact on overall revenue.

learn more about total revenue test here <u>brainly.com/question/15842334</u>

#SPJ4

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You have just received notification that you have won the $3 million first prize in the Centennial Lottery. However, the prize w
Oksanka [162]

Answer:

Present Value= $1,772.115

Explanation:

Giving the following information:

You have won the $3 million first prize in the Centennial Lottery.

However, the prize will be awarded on your 100th birthday, 78 years from now. What is the present value of your windfall if the appropriate discount rate is 10 percent.

We need to use the following formula:

PV= FV/[(1+i)^n]

PV= present value

FV= final value

PV= 3000000/(1.10^78)= $1,772.115

7 0
3 years ago
Marigold Corp. purchased a truck at the beginning of 2020 for $109700. The truck is estimated to have a salvage value of $4200 a
jeka57 [31]

Answer:

the depreciation expense of the year 2020 is $18,870

Explanation:

The computation of the depreciation expense of the year 2020 is as follows:

= (Truck value - salvage value) ÷ (useful life) × (driven miles)

= ($109,700 - $4,200) ÷ (123,000 miles) × (22,000 miles)

= $18,870

Hence, the depreciation expense of the year 2020 is $18,870

6 0
3 years ago
Intel Corporation
statuscvo [17]

Answer:

a. Gross income = sales - COGS

Pretax = gross income - SG$A expense +operating income + non operating income- interest expense - unusual expense

income taxes = Pretax - net income

income statement    2016 2015 2014 2013 2012

sale                        59387 55355 55870 52708 53341

COGS                23425 20651 20522 21418 20507

gross earnings   35962 34704 35348 31290 32834

SG&A EXPENSE   21149 19835 19693 18729 18117

operating income   14813 14869 15655 12561 14717

non operating income  533   -51          224   595 463

interest expense   733    337     192          244 90

unusual expense   1677 269        -114     301          217

pretax                27749 29081 31456 25172 29590

income taxes         17433 17661 19752 15552 18585

Net income          10316 11420 11704 9620 11005

b. Average tax rate = total taxes / total taxable income ( for this calculation we need the tax table for identifying the correct tax brackets for each taxable income falling on it.

                                             2016            2015        2014       2013          2012

gross profit margin       0.61%          0.63%   0.63%   0.59%     0.62%

net profit margin        0.17 %         0.21%        0.21%    0.18%      0.21 %

c. is attached

d.income statement   2016 2015 2014 2013 2012

sale                             100   100   100  100           100

COGS                   39.44% 37.31% 36.73% 40.64% 38.45%

gross earnings   60.56% 62.69% 63.27% 59.36% 61.55%

SG&A EXPENSE   35.61% 35.83% 35.25% 35.53% 33.96%

operating income   24.94% 26.86% 28.02% 23.83% 27.59%

non operating expense  0.90% -0.09% 0.40% 1.13% 0.87%

interest expense   1.23% 0.61% 0.34% 0.46% 0.17%

unusual expense   2.82% 0.49% -0.20% 0.57% 0.41%

pretax                   46.73% 52.54% 56.30% 47.76% 55.47%

income taxes          29.35% 31.90% 35.35% 29.51% 34.84%

Net income        17.37% 20.63% 20.95% 18.25% 20.63%

Explanation:

gross profit margin = gross profit/ sales

net profit margin = net profit / sales

no c is an attachment

5 0
3 years ago
_________ are basic beliefs about right and wrong or philosophies that are pervasive in a society. For instance, in some countri
solmaris [256]

Answer:

A. Values

Explanation:

Although, the above explanations entails or encompasses what values are, manners and customs of people in a country; however, values is what summarizes the whole passage.

Values are what a given society holds in high esteem. They are basic and fundamental beliefs that controls actions in a given society. Values may be right or wrong according to the philosophies of those who believes in such, it is however very important because it helps a society determines what is important I.e something that is good, worthwhile and very much desirable.

3 0
2 years ago
Read 2 more answers
Which of the following statement shows the financial position of a business entity as on date
svlad2 [7]

Answer:

b) balance sheet

Explanation:

Balance sheet: The assets liabilities and stockholder equity are reported in the balance sheet. The accounting equation that is displayed  below is used in this:

Total assets = Total liabilities + stockholder equity

The balance sheet debit and credit side should always be equal and balanced.  

In addition, it is always prepared on the date specified plus it is also reflects the financial position, financial performance of the company.

8 0
3 years ago
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