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3 years ago

Because farm products have a low elasticity of demand a small change in output will have

1 answer:

7 0

Because farm products have a low elasticity of demand a small change in output will have a similar effect on the price. Since the low elasticity of demand directly relates to pricing, when the smaller change in output happens, a smaller drop in profits does as well. The price of the item will decrease to compensate for less products selling.

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Will Jones, Pharoah is a small CPA firm that focuses primarily on preparing tax returns for small businesses. The company pays a

Reika [66]

Answer:

Total cost for 316 returns $3,962

Total cost for 408 returns $4,974

Total cost for 524 returns $6,250

Explanation:

The total cost incurred by Pharoah with the Mega Tax software is given by the fixed cost of $486, referring to the annual fees, added to the cost per tax return of $11 multiplied by the volume of returns filed (n):

$C= \$486+(\$11*n)$

i. if 316 returns are filed? (n = 316)

$C= \$486+(\$11*316)\\C=\$3,962$

ii. If 408 returns are filed? (n = 408)

$C= \$486+(\$11*408)\\C=\$4,974$

iii. If 524 returns are filed? (n = 524)

$C= \$486+(\$11*524)\\C=\$6,250$

Total cost for 316 returns $3,962

Total cost for 408 returns $4,974

Total cost for 524 returns $6,250

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3 years ago

the biggest challenge facing the growth of new franchises is: A) market saturation B)competition from independent entrepreneurs

Furkat [3]

Answer:

(A) market saturation

Explanation:

A franchisee starts a new franchise by entering into a franchising agreement with a franchiser to use its brand name and sell its products. The biggest challenge faced by this new franchise is market saturation.

This occurs because the presence of other similar businesses, whether franchises or independently owned businesses in the market, creates lots of competition for the new franchise.

6 0

2 years ago

The emergence of an information-based economy are important parts of the __________ environment in which businesses operate.

Taya2010 [7]

(.) Technological

<h3>What is the technological environment?</h3>

The company's external environment that is related to technological advancements and changes includes the technological environment. Furthermore, the term "technology" is typically connected to method and apparatus. Their transformation presents the organization with both risks and opportunities.

It has an impact on a number of business factors. That might present a chance or a danger. Companies must adapt to technological variables since they are beyond their control. Companies must therefore be able to change with new technology advancements.

Early adopters of new technologies frequently increase their market share and profit margins. As a result, businesses need to monitor trends and developments. Utilizing opportunities while reducing dangers is the goal. The business can remain competitive in this way.

To know more about the technological environment visit:- brainly.com/question/1381237

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7 0

1 year ago

d needs life insurance that provides coverage for only a limited amount of time while also paying the lowest possible premium. w

Phoenix [80]

The kind of policy is needed Level term.

With limited payment life insurance, the policyholder refrains from extending the policy to ultimately pay the premium. Instead, you pay the full cost of the policy over time. Term life insurance, also known as pure life insurance, is a type of death benefit that is paid to the policyholder's heirs over a specified period of time.

Life provides whole-life protection at a premium for 30 years. The advantage of this policy is that premiums can be carried forward for 30 years, making life insurance cheaper compared to other limited payment options. Single premium life insurance allows policyholders to make a lump sum payment instead of monthly, quarterly, or yearly payments.

Learn more about Life insurance here:-brainly.com/question/25954612

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1 year ago

Booker Corporation had the following comparative current assets and current liabilities: Dec. 31, 2017 Dec. 31, 2016 Current ass

stiks02 [169]

Answer:

Liquidity measures for the year 2017 are as under:

Current Ratio = 1.5

Working Capital = $100,000

Acid Test Ratio = 0.95

Accounts Receivables Turnover = 10 times

Inventory turn over = 4 times

Explanation:

Current Ratio

Current Ratio = Current Assets ÷ Current Liabilities

Dec 31, 2017 Dec 31, 2016

$300,000 ÷ $200,000 $245,000 ÷ $155,000

Current Ratio 1.5 1.6

Working Capital

Working Capital = Current Assets – Current Liabilities

Dec 31, 2017 Dec 31, 2016

$300,000 – $200,000 $245,000 – $155,000

Working Capital $100,000 $90,000

Acid Test Ratio

Acid Test Ratio = (Current Assets – Inventory) ÷ Current Liabilities

Dec 31, 2017 Dec 31, 2016

($300,000 – $110,000) ÷ $200,000 ($245,000 – $90,000) ÷ $155,000

Acid Test Ratio 0.95 1.00

Accounts Receivables Turnover Times

Accounts Receivables Turnover = Credit Sales ÷ Average Accounts Receivables

Average Accounts Receivables = (Opening Accounts Receivables + Closing Accounts Receivables) ÷ 2

Average Accounts Receivables = ($55,000 + $95,000) ÷ 2 = $75,000

Accounts Receivables Turnover = $750,000 ÷ $75,000 = 10 Times

Inventory Turnover Times

Inventory Turnover = Cost of Goods Sold ÷ Average Inventory

Average Inventory = (Opening Inventory + Closing Inventory) ÷ 2

Average Inventory = ($110,000 + $90,000) ÷ 2 = $100,000

Inventory Turnover = $400,000 ÷ $100,000 = 4 Times

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3 years ago