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2 years ago

Demand is said to be ___________ when the quantity demanded is very responsive to changes in price. group of answer choices

Business

1 answer:

vivado [14]2 years ago

6 0

Demand is said to be Elastic when the quantity demanded is very responsive to changes in price.

<h3>What is Elasticity of Demand?</h3>

Demand responsiveness to changes in other market variables is measured by demand elasticity. The price elasticity of demand, for instance, indicates how much demand will change in response to a change in a product's price.

Both elastic and inelastic demand exists. Demand that is elastic is more responsive to changes in the variables being measured against. Products that are inelastic are less sensitive to the changes being measured.

The slope of the demand curve and price elasticity of demand is directly correlated. The law of demand, which states that consumers will demand a greater quantity of goods at lower prices and a lesser quantity of goods at higher prices, was most likely covered in your very first economics course. The downward sloping of demand curves is explained by the law of demand.

Thus the Law of demand directs the elasticity of demand.

For more information on Elasticity of Demand, refer to the given link:

brainly.com/question/23301086

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Help. business management

Anastaziya [24]

Answer: The break-even point is 66 units.

Explanation:

The break-even point can be found by dividing total fixed costs by the difference between selling price and variable cost.

(fixed cost) / (sale price - variable cost)

1980 / (50 - 20) = 66 units

Salt & Battery must sell 66 units of product before breaking even.

3 0

3 years ago

On Jan. 1, 2014, Westerfeld Company placed into service a machine that had an acquisition cost of $60,000, a salvage value of $6

klasskru [66]

Answer:

Annual depreciation= $9,800

Explanation:

First, we need to calculate the depreciation expense and accumulated depreciation until 2016:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (60,000 - 6,000) / 5

Annual depreciation= $10,800

Accumulated depreciation= 10,800*2= $21,600

Now, we determine the depreciable value and the revised depreciation expense:

Depreciable value= 60,000 - 21,600= 38,400

Annual depreciation= (38,400 - 9,000) / 3

Annual depreciation= $9,800

6 0

3 years ago

uipment with a book value of $65,300 and an original cost of $133,000 was sold at a loss of $14,000. Paid $89,000 cash for a new

nataly862011 [7]

Answer:

$221,100

Explanation:

Investing activities: It tracks activities that include buying and selling long-term assets. The buying is a cash outflow whereas the selling is a cash inflow

The computation is shown below

Cash flow from Investing activities

Add: Sale of equipment $51,300 ($65,300 - $14,000)

Less: Purchase value of a new truck - $89,000

Add: Sale of land $198,000

Add: Sale of long term investments $60,800

Net Cash flow from Investing activities $221,100

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3 years ago

On the balance sheet, if ending inventory is overstated, then total assets will be __________ and stockholders' equity will be _

gizmo_the_mogwai [7]

Overstated; overstated

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3 years ago

A private accountant is an accountant whose services may be hired on a fee basis by individuals or business firms. Group of answ

koban [17]

Answer:

TRUE

Explanation:

A private accountant is an individual that provides a select and personalized set of accounting services on hire which may sometimes be exclusive to one client. Clients are usually individuals with high net worth or big corporations.

A private account may be an employee of the client or may operate as an independent accountant, with the later being the case most times.

8 0

3 years ago

Read 2 more answers