Answer:
Price elasticity of demand = Percentage in quantity demanded / Percentage change in price
We already have the percentage change in quantity demanded as -4.3%.
We need to find the percentage change in price using the midpoint method.
= (New price - Old price) ÷ ((New Price + Old price) / 2)
Old price = 1.50 - 0.25 = $1.25
Percentage change in price = (1.50 - 1.25) ÷ ((1.50 + 1.25) / 2)
= 18.18%
Price elasticity of demand = -4.3% / 18.18%
= -0.24
According to your estimate, the Transit Authority's revenue rises when the fare increases.<u> TRUE. </u>
The statement is true because the price elasticity of demand here is Inelastic and when this is the case, revenue rises when the price of the good or service increases.
The price elasticity of demand is inelastic when it is less than 1 which is the case here.
Answer:
Explanation:
Preparation of all journal entries made in 2017 related to the bond issue.)
Jan.1
Dr Cash $618,000
Cr Bonds Payable $618,000
Cr Premium on Bonds Payable. $8,000D
c.3 Interest Expense $59,100
Dr Premium on Bonds Payable $900
($18,000 *$20)
Cr Interest Payable $60,000
($600,000 × 10% = $60,000)
A business plan is a document describing the start-up costs and operating expenses of a new business. The statement is False.
<h3>What is a Business plan?</h3>
A business plan is refer to a document that provides information about teh planning of any organization and about the product to be launched in the market. It also includes planning for budget for various activities.
The document describing the startup costs and operating expenses of a new business is written in the financial statement to maintain records, not as Business Plan.
Therefore, the statement is False.
Learn more about the business plan, here:
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<span>Covered entities must report all phi breaches to the Federal Register annually. The Federal Register is the daily newspaper of the Federal government. It is a legal a legal newspaper published every business day by the National Archives and Records Administration (NARA).</span>
Signature includes any symbol, made with the intent to authenticate a writing. The confirmation that a signature on a document belongs to the person who has signed it is called signature authentication. There is also electronic signature authentication in order computer users to prove their identity. <span> E-mail, SMS, and knowledge based questions are examples of electronic signatures. </span>
