Answer:
The price elasticity of demand is 1.14.
The price is Elastic.
Elasticity is more than one so total revenue will fall.
Explanation:
Given the initial price of good x = $12
Final price of good x = $12.90
% change in price = [(12.90 - 12) / 12] x 100 = 7.5 %
Initial quantity = 5000
Final quantity = 4600
% change in quantity = [(4600 - 5000)/5000] x 100 = -8%
Elasticity = % change in quantity / % change in price
Elasticity = 8% / 7%
Elasticity = 1.14
The price elasticity of demand is 1.14.
The price is Elastic.
Since elasticity is more than one so total revenue will fall.
Answer:
a. producers-wholesalers-retailers-consume
b.
Explanation:
it is easy to cut cost of transport, storage ,etc
Answer:
December 31 Interest expense $3900 Dr
Interest Payable $3900 Cr
Explanation:
The interest and principal is both payable at maturity thus we need to accrue the interest payment and create a liability against the amount of interest due. The adjustment is made 6 months from the issue of the note thus the interest for 6 months is due. The entry would be to record 6 month's interest that relates to this year. The interest expense will be,
120000 * 0.065 * 6/12 = $3900
As the payment is not made until maturity we will credit interest payable by this amount.
Answer:
Nice Peolple
Explanation:
Because They Work Hard ⇔∑∑⊃⇵βΔ
Answer:
Niche competitive advantage
Explanation:
A niche competitive advantage is gained when a business targets a small segment of the market and effectively serves them.
Forming a niche market leads to less competition as the business is specialised in this field, there is clear focus as a small targeted customer base is to be satisfied, and results in specialised skills or market expertise.
Yuengling only sold in a ten-state area on the Eastern Seaboard for over 170 years, giving them a niche competitive advantage.
