Answer:
The correct answer is letter "A": The demand for her haircuts is elastic.
Explanation:
Elasticity is a feature of certain goods and services that affect their quantity demanded after a change in prices. The price elasticity of demand is calculated by dividing the percentage of change in quantity demanded by the percentage of change in price. Results equal to or greater than one (1) imply the demand for that product is elastic while results lower than 1 means the demand is inelastic.
Thus<em>, if a salon owner realizes her revenue increased after decreasing the haircut prices, it implies the demand for haircuts is elastic.</em>
Answer:
I have forgotten later I tell you
Explanation:
Answer:
Journal Entry for establishing a Petty cash fund
Date Particulars Debit Credit
Jan 1 Petty cash A/c $270
To Cash A/c $270
(Being Petty cash fund established)
Journal Entry for reimbursement of petty cash
Date Particulars Debit Credit
Jan 8 Postage A/c $36
Transportation A/c $13
Delivery Expense A/c $15
Miscellaneous Exp A/c $25
To Cash A/c $89
(Being reimbursement of petty cash expenses
incurred from petty cash fund)
Journal entry for Increasing the limit of Petty cash fund
Date Particulars Debit Credit
Jan 8 Petty Cash A/c $50
To Cash A/c $50
(Being Petty cash fund limit extended to $320 i.e., we have
to add $50 to existing fund in order to make it $ 320.)
Answer:
Increase; fall
Explanation:
Due to the slightly above normal rainfall levels which led to a large black morel harvest, <em>the supply of the commodity will increase</em>.
However, since demand for the commodity is expected to remain the same as it was in 2007 despite the increase in supply, <em>the equilibrium price is expected to fall</em> as supply exceeds demand.
