Economic growth in China has led to more Chinese people owning cars, which: increased demand for oil but decreased supply, causi
1 answer:
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Answer:
Demand drops to zero
Explanation:
Infinite elasticity of demand is also called perfect elasticity of demand.
In this scenario the demand for a product is attached to it's price.
There is an infinite change in the quantity demanded as a result of change in price.
Graphically it is a horizontal demand curve as represented in the attached
Even a small increase in price will cause demand to fall to zero.
Examples are luxury goods such as high end cars and expensive jewelry.
Answer:
Note: <em>The complete question is attached as picture below</em>
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We are add the previous month +10% to get that month's amounts
Sales Budget
January February March
Cash sales $50,000 <u>$55,000</u> <u>$60,500</u>
Credit sales $120,000 <u>$132,000</u> <u>$145,200</u>
Total sales $170,000 <u>$187,000</u> <u>$205,700</u>
<u>Workings</u>:
February
Cash sales = 50,000+(50,000*10%) = $55,000
Credit sales= 120,000+(120,000*10%) = $132,000
March
Cash sales = 55,000+(55,000*10%) = $60,500
Credit sales= 132,000+(132,000*10%) = $145,200
