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1 year ago

The demand for ski rentals falls when the price of lift tickets increases. This is an example of?

1 answer:

5 0

The demand for ski rentals falls when the price of lift tickets increases. This is an example of Price Elasticity of demand.

<h3>What Is Price Elasticity Demand?</h3>

This refers to the relationship between the price of a commodity relative to the demand of that same commodity.

In other words Price elasticity of demand is a measure of how sensitive the quantity demanded is to its price.

When the price increase, quantity demanded for such product decreases. It is important to note that the fall in prices of some product is more than the others.

Learn more about Price Elasticity of Demand at brainly.com/question/5078326

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Accounts receivable turnover and days’ sales in receivables For two recent years, Robinhood Company reported the following: 20Y9

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Answer:

Accounts receivable for 2019 = $590,000

Accounts receivable for 2018 = $570,000

Explanation:

The computation of accounts receivable for both years is shown below:-

2019 2018

Sales $7,906,000 $6,726,000

Accounts receivable

Beginning balance $600,000 $540,000

Ending balance $580,000 $600,000

Accounts receivable $590,000 $570,000

Working note:-

Average Accounts receivable for 2019 = ($600,000 + $580,000) ÷ 2

= $590,000

Average Accounts receivable for 2018 = ($540,000 + $600,000) ÷ 2

= $570,000

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