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4 years ago

Which is likely to occur if there is a price increase for a good which exhibits elastic demand

1 answer:

6 0

Your answer would be, If there is a price increase for a good; People might buy a LESS EXPENSIVE substitute good.

(Substitution Effects) =====> Example =====> If the Price of Coffee goes up, Then people will substitute for Tea, Because it is less cheaper. (If that makes sense.).

Hope that helps!!!!! -P- : )

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Serggg [28]

Explanation:

Monopolistic competition

Monopolistic competition, many seller that differentiated products - products that differ slightly but sever similar purpose. By making consumer aware of product difference, seller exert some control over price.

Oligopoly

In an oligopoly, a few sellers supply sizable portion of products in the market. They exert some control over price, but because their products are similar, when one company lowers prices, the others follow .

Monopoly

In a monopoly, there is only one seller in the market. The market could be a geographical area, such as a city or a regional area, and does not necessarily have to be añ entire country. The single seller is able to control prices

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5 0

3 years ago

The tables below show the spending and revenue for Littleland in 2010. Use these tables to answer the following questions.

grandymaker [24]

Answer:

Explanation:

The total Expenditure is the summation of all the following parameters ( Spending on Education, Spending on Welfare and social security, Spending on Healthcare, Spending on Defense, Payments on Debt, Other Spending)

The total Expenditure = $(320+890+270+120+170+240) million

The total Expenditure = $2010 million

However;

The total Revenue = Income Tax+ Sales Tax+ Corporate Tax+ Social Insurance

The total Revenue = $(800+270+300+340) million

The total Revenue = $1710 million

The debt now will be the difference between the total expenditure and the total revenue.

Debt = $(2010-1710) million

Debt = $300 million

Therefore, Littleland needs to borrow $300 million

At the end of 2010, the total debt = Total debt of 2009 + amount borrowed in 2010

Total debt of 2009 = $ 3.5 billion

amount borrowed in 2010 = $0.3 billion

At the end of 2010, the total debt = $(3.5+0.3) billion

At the end of 2010, the total debt = $3.8 billion

Therefore; the Debt to GDP ratio in 2010 = 3.8/7.3 = 52.05%

The Debt to GDP ratio in 2010 = 52.05%

To the nearest whole percentage ≅ 52%

6 0

3 years ago

When savings accumulate beyond what may be needed for short-term goals and emergencies, then you have money available for invest

sasho [114]

Answer: True

Explanation:

Yes, the given statement is true that the short term goals are refers to the goals that is achieved in short period of time by establishing a proper financial planning and also manage our expenditure for the purpose of investing the various types of goals.

According to the given question, For the purpose of investing we need availability of the money for setting the each goals in prioritized way and also eliminating the credit and debt funds.

Therefore, The given statement is true.

7 0

3 years ago

The need for ______________ can complicate information sharing among emergency personnel. A. confidentiality B. social media out

DIA [1.3K]

The need for A. confidentiality can complicate information sharing among emergency personnel.

<h3>What is confidentiality?</h3>

Confidentiality refers to personal information which cannot be divulged to third parties without the express consent of the affected client.

For emergency personnel, they are also required to maintain confidentiality, despite the nature of their work. It is not social media outlets, advanced equipment, or verified sources that complicate information sharing.

Thus, the need for A. confidentiality can complicate information sharing among emergency personnel.

Learn more about confidentiality at brainly.com/question/8617757

6 0

2 years ago

During January, Luxury Cruise Lines incurs employee salaries of $1.2 million. Withholdings in January are $91,800 for the employ

Zarrin [17]

Answer: Please see below for answer

Explanation:

Journal for employee salary and withholdings

Particulars Debit Credit

Salaries Expense $1, 200,000

FICA tax Payable $91,800

Federal Income Tax Withholding Payable $180,000

State Income Tax Withholding Payable $75,000

Health Insurance Payable $12,000

Salaries Payable $841,200

Journal to record employer provided fringe benefits for January

Particulars Debit Credit

Salaries expense(fringe benefits)$ 36,000

Accounts payable to blue cross shield $36,000

Journal to record employer payroll taxes

Particulars Debit Credit

Payroll Tax Expense $166, 200

FICA tax Payable $91,800

unemployment tax payable $74,400

6 0

3 years ago