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xeze [42]
3 years ago
7

As the prices in markets change, buyers and sellers respond in different ways according to how much time they have to react. Mat

ch the time period to its correct description.
(1) short run
(2) immediate run
(3) long run

(A) Demand is somewhat elastic. Buyers have some time to adjust to a change in the market.
(B) Buyers have no time to adjust to a change in the market. Demand is inelastic.
(C) Buyers have a significant amount of time to adjust to a change in the market. Demand is elastic.
Business
1 answer:
mel-nik [20]3 years ago
7 0

Answer:

(1) Short run - (A)

(2) Immediate run - (B)

(3) Long run - (C)

In a short run, all the changes occur in an economy are for shorter time period and buyers have little time to respond to these changes. Hence, the demand curve is elastic in nature.

In an immediate run, there will be no time for the consumers to respond to the changes occur in an economy. Suppose there is an increase in the prices of the goods, as a result there will no changes occur in the quantity demanded. Hence, the demand curve is inelastic, means that there is no effect on quantity demanded.

In a long run, there is enough or more than enough time for the consumers to respond to the changes. Hence, the demand curve is elastic in nature.

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On July 1, 2020, Whispering Co. pays $13,620 to Metlock Insurance Co. for a 3-year insurance policy. Both companies have fiscal
S_A_V [24]

Answer:

jul-01 Prepaid expenses   13.620  

jul-01      Cash                              13.620

     

dec-31 Insurance policy expense 2.270  

dec-31     Prepaid expenses    2.270

Explanation:

Paid 1-jul 13620    

     

Three Years 13.620 36 months    

Monthly 378 month    

Current Year 2.270 6 months    

           

jul-01 Prepaid expenses   13.620  

jul-01      Cash                              13.620

     

dec-31 Insurance policy expense 2.270  

dec-31     Prepaid expenses    2.270

4 0
3 years ago
A U.S.-based importer, Zarb Inc., makes a purchase of crystal glassware from a firm in Switzerland for 39,960 Swiss francs, or $
IRINA_888 [86]

Answer:

e. $638

Explanation:

payment to be made as per forward contract (IN $)

= 39960/ 1.682  

= $23757.43  

now the actual rate after 90 days is 1.638

payment at 1.638 rate = 39960/ 1.638

                                    = $24395.6  

loss by hedging = $24395.6 - $23757.43  

                           = $638.17

Therefore, The U.S. firm have saved or lost $638 in U.S. dollars by hedging its exchange rate exposure.

4 0
2 years ago
Which of the following charitable contributions is not tax deductible? a. Time donated to a qualified veterans’ organization. b.
igor_vitrenko [27]

Answer:

Time donated to a qualified veterans organization

Explanation:

The reason is that the company can only only deduct the products or services delivered which had cost the organization. The companies are not allowed to deduct the cost of time delivered however if the employee is specially paid to offer the services to qualified charitable institution then the charity would be tax deductable.

6 0
3 years ago
You are a dual income, no kids family. You and your spouse have the following debts (total): mortgage, $350,000; auto loan, $18,
Stells [14]

Answer:

$202,200

Explanation:

DINK (double-income no kids): It suggest to add half all the marriage debt to the funeral expenses:

To the funeral expenses you will add half of the debts:

350,000 / 2 =  175,000 for mortgage

  18,600 / 2 =     9, 300 for atomobile loan

   5,200 / 2 =     2,600 for credit card debt

   9,800 / 2 =     4, 900 other debt

funeral exp   <u>   10, 400   </u>

<em>insurance:      202,200</em>

8 0
3 years ago
For a firm in a perfectly competitive​ market, price is
Zigmanuir [339]

Answer:

The correct answer is D. equal to both average revenue and marginal revenue.

Explanation:

A perfectly competitive market or market of perfect competition is that market in which two characteristics are fulfilled:

1) there is a large number of buyers and sellers in such a way that the influence they individually exert on prices is negligible;

2) the goods or services that are exchanged are the same. [Supply and demand] Perfect competition is the situation of a market where companies lack the power to manipulate the price (price-acceptors), and there is a maximization of well-being.

This results in an ideal situation of the goods and services markets, where the interaction of supply and demand determines the price. A perfectly competitive market has the following characteristics: There are many buyers and sellers in the market. The goods offered by different vendors are largely identical. Companies can freely enter and exit the market.

8 0
3 years ago
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