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Kisachek [45]
2 years ago
10

If the price of good X rises and the demand for good X is inelastic, then the percentage fall in quantity demanded is __________

__ the percentage change in price, and total revenue _________.
Business
1 answer:
Dominik [7]2 years ago
6 0

If the price of good X rises and the demand for good X is inelastic, then the percentage fall in quantity demanded is greater than the percentage change in price, and total revenue falls.

Demand elasticity, often known as the elasticity of demand, gauges how consumers react to changes in price or income. Due to the fact that the price of a good or service is the most typical economic component used to measure it, it is frequently referred to as price elasticity of demand.

The whole amount of money a seller can make by providing goods or services to customers is known as total revenue. The formula for this is P\times Q, or the purchase price times the quantity of the products sold.

Learn more about elasticity of demand here brainly.com/question/24384825

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3 years ago
Total 0 1 to 30 31 to 60 61 to 90 over 90
natulia [17]

Answer:

a. $25,650

b. Journal entries

Explanation:

The computation is shown below:

a. The balance of the Allowance for Doubtful Accounts is

=  Total account receivable × estimated percentage

= $570,000 × 4.5%

= $25,650

b. The adjusting entry is as follows

Bad Debt Expense  $13,650       ($25,650 - $12,000)

         To Allowance for Doubtful Accounts $13,650

(Being the bad debt expense is recorded)

c. The adjusting entry is as follows

Bad Debt Expense  $26,650       ($25,650 + $1,000)

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(Being the bad debt expense is recorded)

4 0
3 years ago
A hungry man is willing to pay a high price for food. After he is no longer hungry, he is not willing to pay the smae high price
zavuch27 [327]
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6 0
2 years ago
The delegates to the Constitutional Convention were among the most educated, powerful, and wealthy citizens of the new country.
brilliants [131]
Large states felt that they should have more representation in Congress, while small states wanted equal representation with larger ones. ... Each state would be equally represented in the Senate, with two delegates, while representation in the House of Representatives would be based upon population.
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Suppose a small economy produces only two goods: books and shirts. The opportunity cost of 1 book is constant at 3 shirts. For e
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Answer:

Books Shirts

4 0

3 3

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1 9

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A 4 3−3=0

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D 1 12−3=9

E 0 12

8 0
2 years ago
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