The price elasticity of a good will tend to be larger if the fewer number of substitute goods will be available.
The cross elasticity of demand for substitute goods is always positive because the demand of one good increases at the time when the price for the substitute good increases however the cross elasticity of demand for complementary goods is always negative.
For example, if the price of coffee rises, the quantity demanded for tea which is the best substitute of coffee beverage will increase as consumers will switch to a less expensive but the substitutable alternative.
This is reflected in the cross elasticity of the demand formula, as both the numerator which is the percentage change in the demand of tea and denominator which is the price of coffee shows a positive increase.
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Answer:
D
Explanation:
Many studies have found a positive correlation between economic growth and living standards. This means that empirical works have found that countries with higher economic growth, often have better living standards than the countries with less economic growth. In this case if real GDP per capita of both countries is similar, then they are comparable.
We can deduce that the country B will experience an increase in living standards much more rapidly in the long run because economic growth leads to an increase in profits for firms, there would be a better capital and labor return. This means that firms will pay more for capital and labor, if households are de owners of capital and labor, their rents and wages will increase. The disposable income will increase for households and they will consume more goods and services, then their living standards will increase.
The Allowance for Doubtful Accounts T-account will have the <u>estimated bad debts from the adjusting entry</u> sales discounts .
Doubtful account
An allowance for doubtful accounts is considered a “contra asset,” because it reduces the amount of an asset, in this case the accounts receivable. The allowance, sometimes called a bad debt reserve, represents management's estimate of the amount of accounts receivable that will not be paid by customers.
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Answer:
The correct answer is D
Explanation:
Civil procedure is the body of law which sets or lay down the standards and the rules that the court follow when adjudicating or examine the civil lawsuits.
The rules are govern on how a case or a lawsuit is commenced, kind of pleadings, orders allowed in civil cases. So, it best stated with the process issued in the civil lawsuit.
Net cash flow is basically the difference of the cash balance from the beginning of the period to the end of the period. For this instance, we take sales and subtract the listed expenses.
January = 150,000 - 35,000- 20,000 -20,000 = 75,000 net cash flow
February = 175,000 - 39,000 - 25,000 - 45,000 = 66,000 net cash flow
For the change you divide (February/January) -1 or (66,000/75,000)-1= -.12
The growth in cash flow was -12%
