Percentage change in quantity demanded/percentage change in price is the basic formula for the price elasticity of demand coefficient.
<h3 /><h3>What is price elasticity?</h3>
Price elasticity is the degree of an individual that person or a consumer can pay to the change in the price of the commodity, it is calculated the price a consumer is willing to pay versus the amount of quantity supplied to the person.
Thus, Percentage change in quantity demanded/percentage change in price
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It should be noted that the cash that's used to make purchases as illustrated is the transactionary motive of holding money.
A financial transaction simply means an agreement that takes place between the buyer and the seller. It is the exchange of goods or services.
The transactionary motive of holding money simply means holding money in order to meet daily financial needs such as buying goods.
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Answer:
The answer would be
Explanation:
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Answer:
c. In Paulson's general ledger, the ending balance for the Cash account will be correct. However, the ending balance for the Service Revenue account will be too high and the ending balance for the Unearned Service Revenue account will be too low
Explanation:
Around 15th November, Paulson Painting endured a $6,000 cash amount from Apex Inc. in replacement for painting services to be rendered in the month of December. While posting the journal insertions correlated to this amount, Paulson's controller debits the Cash statement for $6,000 as well as charges Service Revenue toward $6,000. The statement which best describes the results of this posting is that, <u>in Paulson's general ledger, the ending balance for the Cash account will be accurate. Nevertheless, the ending balance regarding the Service Revenue account will remain extremely high as well as the ending balance for the Unearned Service Revenue account will remain extremely low.</u>
Answer:
d. the firm will lose $750
Explanation:
marginal cost is the derivate of the cost function: It represent the cost of producting an additional unit
cost: 750 + 5q
dC/dQ = 5
We have determinate that marginal cost is $5 thus, we should price at the same value. The mistake from the goverment is to equalize marginal cost with price instead of marginal revenue.
This will make the firm loss the fixed component of the cost as will sale to pay up the variable cost.
The fixed cost is $750 so that is the loss from operations
