Answer:<u><em> Elle's coffee has lots of close substitutes while coffee has few substitutes, so the demand for Elle's coffee is more elastic than the market demand for coffee.</em></u>
Here, it can be seen that when Elle's Espresso Bar raised its price by 10 percent, the quantity of coffee that Elle sold decreased by 40 percent, whereas when Elle and all her competitors cut their prices by 10 percent, the quantity of coffee sold by Elle increased by only 4 percent.
∴<em><u> The demand for Elle's coffee is more elastic than the market demand for coffee.</u></em>
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what language is this if i may ask
Answer:
Explanation:
Debit Accounts Receivable and credit Sales Revenue for $620;
DEBIT: Cost of Goods Sold CREDIT: Inventory for $500
Answer:
The gross profit margin is B. 31.5%.
Explanation:
The gross profit is the profit earned by a company from trading and is also known as the trading profit. It is the difference between the Net sales revenue and the cost of goods sold. This profit does not take into account any other expenses either operating or non operating except for the cost of goods sold.
The net sales revenue = Gross sales revenue - Sales returns and allowances - sales discounts
Net sales revenue = 160000 - 19000 - 11000 = 130000
The cost of goods sold are $89000
The gross profit = 130000 - 89000 = $41000
The gross profit percentage = (Gross profit / net sales) * 100
Gross profit margin = (41000 / 130000) * 100 = 31.5%