HELP ME PLZ 16 pts, and i’ll give brainliest

When the price of a bar of chocolate is $1.00, the quantity demanded is 100,000 bars. When the price rises to $1.50, the quantit

Bas_tet [7]

Answer:

a. -1.25

b. -1.25

Explanation:

Price elasticity is used to measure the change in demand as a result of a change in price.

Formula is;

= % change in Quantity/ % change in Price

a. Suppose the price increases from $1.00 to $1.50. The price elasticity of demand is:

% change in Quantity using the midpoint formula;

$=\frac{Q2 - Q1}{\frac{Q1 + Q2}{2} } \\\\= \frac{60,000 - 100,000}{\frac{100,000 + 60,000}{2}} \\\\= -0.5$

% Change in Price using midpoint formula

$=\frac{P2 - P1}{\frac{P1 + P2}{2} } \\\\= \frac{1.5 - 1.00}{\frac{1.00 + 1.50}{2} } \\\\= 0.4$

= -0.5/0.4

= -1.25

b. Suppose the price decreases from $1.50 to $1.00. The price elasticity of demand is:

% change in Quantity using the midpoint formula;

$=\frac{Q2 - Q1}{\frac{Q1 + Q2}{2} } \\\\= \frac{100,000 - 60,000}{\frac{100,000 + 60,000}{2}} \\\\= 0.5$

% Change in Price using midpoint formula

$=\frac{P2 - P1}{\frac{P1 + P2}{2} } \\\\= \frac{1.00 - 1.50}{\frac{1.00 + 1.50}{2} } \\\\= -0.4$

= 0.5/-0.4

= -1.25

7 0

3 years ago

Jewelry Company has a sales budget for next month of $450,000. Cost of goods sold is expected to be 45 percent of sales. All goo

lukranit [14]

Answer:

The cost of goods sold for next month is expected to be $202,500

Explanation:

Given that,

Sales budget = $450,000

Cost of Good sold = 45% of sales

Opening inventory = $20,000

Ending inventory = $24,000

Beginning accounts payable = $206,500

Since, in the given question, it is mentioned that the cost of good sold is 45% of sales.

So,

Cost of Goods Sold (COGS) = 0.45 × $450,000

= $202,500

Hence, the cost of goods sold for next month is expected to be $202,500

Note: we don't considered other things which is mentioned in the question.

7 0

3 years ago

Maxie's Game World sold games to a customer on credit for $2,600, terms 1/10, n/30 and the cost of the games was $1,700. When re

aleksandrvk [35]

Answer:

$2,600 in the Accounts Receivable Dr./Sales Cr. column and $1,700 in the Cost of Goods Sold Dr./Inventory Cr. column.

Explanation:

If we assume that Maxie's Game World uses a perpetual inventory system, the appropriate journal entries should be:

Date XXX, merchandise sold on credit to client YYY, terms 1/10, n/30

Dr Accounts receivable 2,600

Cr Sales revenue 2,600

Dr Cost of goods sold 1,700

Cr Merchandise inventory 1,700

7 0

3 years ago

Henry has a narrow scope in his job and does a few specific tasks as part of a larger production process. According to the job c

leva [86]

Answer: Task identity.

Explanation:

The job characteristics model explains that employees of an organization are less motivated in a job role that requires little from them while employees are highly motivated in a job role that is dynamic and requires much from them. Henry would be experiencing a low because of the light job role he is given, according to the job characteristics model.

8 0

3 years ago

on january 1 year 1 abc merchandising company was started the company experienced the following events during the first year of

Alik [6]

Answer: $390

Explanation:

Revenue for a merchandising business is realized when the business sells some of its goods to customers. This can either be in cash or on account which would mean that the customer did not pay cash but now owes them.

The business sold merchandise costing $350 for $390 on account so this is the amount that they will recognize as revenue.

6 0

3 years ago