The process used by Terry is known as Discounting.
<h3><u>
What is Discounting?</u></h3>
- A value obtained in the future is converted to an equivalent value received right away through the process of discounting.
- Discounting takes into account the relative value of a dollar received now against one received in 50 years, for instance.
- By converting future dollars into current dollars, the discounting process allows for the conversion of units of value over a range of time periods.
- Decision-makers utilize discounting to fully comprehend the costs and benefits of policies that have long-term effects.
Discounting is a method for calculating the gap between current and future values.
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Answer:
variable cost per bushel = $0.18848
total fixed costs = $6,652
Explanation:
we can use the high-low method of accounting to determine the variable and fixed costs:
- highest activity cost = $25,500
- highest activity level = 100,000 bushels
- lowest activity cost = $7,500 (*doesn't make sense to use $75,000)
- lowest activity level = 4,500
variable cost per unit = (highest activity cost - lowest activity cost) / (highest activity units - lowest activity units)
variable cost per unit = ($25,500 - $7,500) / (100,000 - 4,500) = $18,000 / 95,500 bushels = $0.18848 per bushel, since the quantities are large, we cannot round up
fixed costs = highest activity cost - (variable cost x highest activity units)
fixed costs = $25,500 - ($0.18848 x 100,000) = $6,652
The answer is B I believe
Answer:
The demand for candy bars is inelastic
Explanation:
The midpoint rule calculate the price elasticity of demand as percentage change in quantity divided by the percentage change in price:
<u>% change in quantity </u>
The quantity demanded increased from 500 to 600. We have
<u>% change in price</u>
The price changed from 1 dollar to 0.8 dollars.
Price elasticity if demand is
The negative sign tells us that there is an inverse relationship between price and quantity demanded.
Since 0.82 is less than 1, the demand for candy bars is inelastic
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