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The price elasticity of demand is equal to the ________ in the ________ divided by the ________ in the ________.

Helga [31]

b. percentage change; quantity demanded; percentage change; price

5 0

3 years ago

In Spring 2018, Parmac Engineering Company signed a $160 million contract with the city of Parkersburg, to construct a new city

marta [7]

Answer:

By using the percentage-of-completion method the $64 million revenue should Parmac recognize in 2018

Explanation:

Percentage-of-completion method : Under this method,

First we have to calculate the percentage which is based on current period cost to total period cost.

After that, multiply the percentage with the revenue so that we get to know how much revenue is being recognized during an particular year.

In mathematically,

Estimated Cost percentage = current period cost ÷ total period cost

= $48 million ÷ $120 million

= 40%

Now,

Revenue recognized = Estimated cost percentage × Revenue

= 40% × $160 million

= $64 million

Hence, by using the percentage-of-completion method the $64 million revenue should Parmac recognize in 2018

7 0

3 years ago

At December 31, Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (credit) b

meriva

Answer:

$6,540

Explanation:

Given:

accounts receivable of $238,000

allowance for uncollectable accounts of $600 (credit)

Also, the allowance for uncollectible accounts should be 3% of accounts receivable.

Therefore the amount of the adjustment for uncollectible accounts would be

= 3% of $238,000 - $600= $(7140-600)= $6,540

4 0

3 years ago

Suppose an economy has 10,000 people who are not working but looking and available for work and 90,000 people who are working. W

Daniel [21]

<h3>In the given scenario unemployment rate is 10% </h3>

Explanation:

In the given problem,

Number of People who are working is 90,000

Number of People who are not working but looking and available is 10,000

Unemployment rate = Percentage of the total labor force that is unemployed but actively looking for employment and ready to work.

Unemployment rate = ((Unemployed people * 100) / (Total people in an economy (Working + Available for work)))

Unemployment rate = ((10000 * 100) / (90000+10000))

Unemployment rate = (1000000 / 100000)

Hence, Unemployment rate = 10%

5 0

3 years ago

Read 2 more answers

Angela Fox and Zooey Caulfield were food and nutrition majors at State University, as well as close friends and roommates. Upon

S_A_V [24]

Answer:

a) maximize 12x+16y subject to x+y≤60; x+2y≤80; 2x-3y≥0; x-9y≤0.

b) 40 fish and 20 beef dinners

c) $800

Explanation:

Let x and y represent the numbers of fish and beef dinners to prepare, respectively. Then the relations these values must satisfy are ...

x + y ≤ 60 . . . . . a maximum of 60 dinners will be sold

0.25x + 0.50y ≤ 20 . . . . . kitchen hours cannot exceed 20

x/y ≥ 3/2 . . . . . . at least 3 fish dinners for each 2 beef dinners will be sold

y ≥ 0.10(x +y) . . . . at least 10% of dinners sold will be beef

While satisfying these relations, we want to maximize the profit function:

p = 12x +16y

a) The linear programming problem can be formulated as ...

Maximize 12x +16y, subject to ...

x + y ≤ 60
x + 2y ≤ 80
2x - 3y ≥ 0
x - 9y ≤ 0

__

b) The graph shows the constraint inequalities with the comparison symbol reversed. The effect of that is to shade the area that is NOT part of the solution set, leaving the feasible region white. The vertex of the (white) feasible region that makes the profit line farthest from the origin is the solution we're looking for. Once the profit line is plotted so we can compare its slope to the lines bounding the feasible region, it becomes clear which vertex is the one that maximizes profit.

The solution is (x, y) = (40, 20).

40 fish dinners
20 beef dinners

__

c) The maximum earnings are estimated to be ...

($12)(40) +($16)(20) = $800

5 0

3 years ago