As a result of the demand increasing only slightly compared to the reduction in price, the demand must be <u>inelastic</u>.
<h3>Why is the demand inelastic?</h3><h3 />
The demand is considered to be inelastic if the price elasticity is less than 1.
The price elasticity is:
= (%Change in quantity/% Change in price)
Solving gives:
= 15 / 200 ÷ 0.50 / 3.50
= -0.525
In conclusion, the demand for the shakes is inelastic.
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Answer:
Management consists of controlling a group or a set of entities to accomplish a goal. Leadership refers to an individual's ability to influence, motivate, and enable others to contribute toward organizational success. Influence and inspiration separate leaders from managers, not power and control.
Explanation:
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Answer:
The effect the entry to recognize the uncollectible accounts expense for Year 2 will have on the elements of the financial statements are that it will reduce Accounts Receivable to $15,560 and the Allowance for Doubtful Accounts to $1,900 at the end of Year 2.
Explanation:
Credit sales estimated to be uncollectable = Credit sales * Estimated percentage uncollectable = $215,000 * 1% = $2,150
Ending account receivable = Beginning accounts receivable + Credit sales - Cash collected - Receivales written off as uncollectable - Credit sales estimated to be uncollectable = $76,000 + $215,000 - $271,100 - $2,100 - $2,150 = $15,560
Ending Allowance for Doubtful Accounts = Beginning Allowance for Doubtful Accounts - Allowance for Doubtful Accounts - Receivales written off as uncollectable = $4,000 - $2,100 = $1,900
Therefore, the effect the entry to recognize the uncollectible accounts expense for Year 2 will have on the elements of the financial statements are that it will reduce Accounts Receivable to $15,560 and the Allowance for Doubtful Accounts to $1,900 at the end of Year 2.
Answer: Efficiency
Explanation:
Efficiency shows the highest performance level that utilizes the smallest amount of inputs to attain the biggest amount of output. Efficiency is the act of reducing unnecessary resources used in the production of a given output.
Efficiency reduces the waste of resources like energy, physical materials, and time albeit achieving the desired output. It is the aim of every organization to get the best results using the least cost. Southwest Airlines is efficient in its production since it uses its assets and time well.
The reasons for PSO to switch from DB to DC Scheme are:
- It has gold standard for pensions.
- They are more secure.
- More generous than DC pensions and pay an income that increases along with inflation.
<h3>What are the reasons for a shift?</h3>
The movement from defined benefit (DB) to defined contribution (DC) pension plans is known to be one that has made workers to decide or make choices that may affect their financial resources in terms of retirement.
Therefore, DC Scheme is more of a benefit to the employees that the company as it tends to lower an employee's taxable income.
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