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mafiozo [28]
1 year ago
7

What is meant by 'Price elastic demand?​

Business
1 answer:
Semenov [28]1 year ago
8 0

Answer:

The amount requested of an item or service divided by the percentage change in price is the price elasticity of demand. The percentage change in quantity supplied divided by the percentage change in price represents the price elasticity of supply.

Explanation:

have a nice day!

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(a) what was the opportunity cost of non-gm food for many buyers before 2008?
Rama09 [41]

Answer:

Buyers opportunity cost for non genetically modified food was alternative food available before 2008

Explanation:

opportunity cost simply means cost of alternative forgone. Example if one purchases a car and utilizes for a taxi, his opportunity cost could be the value he would have received for his investment if he had bought a truck and used it for loading cement for building projects. We apply this to the question above and so the opportunity cost is alternative of non genetically modified food available that would have been bought before 2008

7 0
3 years ago
Adriana Corporation manufactures football equipment. In planning for next year, the managers want to understand the relation bet
Delicious77 [7]

Answer:

$50.57 ; $175,573.6

Explanation:

The computation of the fixed and variable portions of overhead costs based on machine-hours using high low method is shown below:

Variable cost per hour = (High Overhead cost - low overhead cost) ÷ (High machine hours - low service hours)

= ($581,145 - $503,775) ÷ (8,020 hours - 6,490 hours)

= $77,370 ÷ 1,530 hours

= $50.57

Now the fixed cost equal to

= High overhead cost - (High machine hours × Variable cost per hour)

= $581,145 - (8,020 hours × $50.57)

= $581,145 - $405,571.4

= $175,573.60

3 0
3 years ago
Sullivan signs an employment agreement with Keller Construction. Two days after signing, Sullivan receives a job offer from Big
lyudmila [28]

Answer:

Yes,

Explanation:

Yes, in this scenario a verbal release would be valid and enforceable. In any scenario where a verbal agreement is made that includes exchanging two things of value automatically becomes valid and enforceable. In this case, Keller Construction is giving up the contract with Sullivan which is valuable to them in exchange for Sullivan's service in finding another suitable candidate that can provide similar value to the company. Therefore making it a proper exchange of value.

8 0
3 years ago
Julia gives importance to both relationships and tasks. She clarifies task objectives and setting policies and budgets. She also
Fantom [35]

Answer:

a. supporting leader style

Explanation:

in a supporting leadership style, the head of the team is aim at developing his or her team member (sub ordinate), training them to be independent and guide them on how to achieve a given task.

in this scenario, Julia shows a supporting leadership style by:

providing aid and guidance to her subordinates and

acknowledging their accomplishments and allows them to provide suggestions.

She is trying to help her subordinate to achieve the challenge tasks given to them.

5 0
3 years ago
Nelson Manufacturing has two processing departments, Department I and Department II. The raw materials processed at Department I
MaRussiya [10]

Answer:

The journal entry to record the direct material used in production is given below:

Dr Work-In Process Inventory  $40000

Cr Raw Materials Inventory                       $40000

Explanation:

The work in process inventory is debited since it is the receiving account ,while raw material inventory is credited as it is the giving account.

The work in process depicts raw materials currently being worked upon at the production, from which completed goods are then transferred to finished goods inventory.

The raw materials inventory account is the account where raw materials received from vendors are first of all recorded before the need to issue to production process.

When such materials are received in the warehouse , the raw materials inventory account is debited while the supplier account is appropriately credited to show the amount of indebtedness.

7 0
3 years ago
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