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motikmotik
3 years ago
7

If demand for a product is inelastic, what would you predict will happen to the demand when it's price rises?

Business
1 answer:
AURORKA [14]3 years ago
4 0
<span>For inelastic goods, when the overall price rises, quantity demanded will drop more than the overall price rise. This will cause the overall revenue brought in by the product to decrease. Elastic goods would have a smaller decrease in QD than the percentage of the price rise.</span>
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Which of these statements about life insurance benefits is false?
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<span>Employers normally require employees to pay a large portion of thecost of the life insurance benefit.</span>
3 0
2 years ago
On October 1, Black Company receives a 10% interest-bearing note from Reese Company to settle a $22,200 account receivable. The
lorasvet [3.4K]

Answer:

$555

Explanation:

The computation of the interest revenue is shown below:

= Account receivable  × rate of interest × number of months ÷ (total number of months in a year)

= $22,200 × 10% × (3 months ÷ 12 months)

= $2,220 × (3 months ÷ 12 months)

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The three month is calculated from October 1 to December 31. The six month period of note is ignored

4 0
3 years ago
Q 5.34: A wholesaler offers credit terms 1/10, n/30. A fabric store bought goods worth $6,500 from the wholesaler. Within the di
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Answer:

the wholesaler received $6,138 as payment.

Explanation:

The seller would receive the the amount owing to customer less the return credit and cash discount of 1 %.

The calculation of this amount is as follows :

Account Receivable                        $6,500

Less Return Credit                            ($300)

                                                         $6,200

Less Cash discount ($6,200 × 1%)      ($62)

Payment                                            $6,138

Conclusion :

the wholesaler received $6,138 as payment.

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3 years ago
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2 years ago
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2 years ago
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