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never [62]
3 years ago
6

Holding all other things constant, a higher price for ski lift tickets would a) increase the number of skiers. b) increase the p

rice of skis. c) decrease the number of skis sold. d) decrease the demand
Business
1 answer:
slega [8]3 years ago
3 0

Answer:

The answer is C. decrease the number of skis sold

Explanation:

This satisfies the popular law of demand which states that other things being equal, the higher the price the lower the quantity demanded and vice-versa.

Ski lift is a normal good which also satisfies the law of demand. The elasticity of demand is elastic meaning 1% increase in price will lead to a significant decrease in quantity demanded.

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A stock had returns of 18.58%, -5.58%, and 20.81% for the past three years. What is the variance of returns?
NemiM [27]

Answer:

Variance = 0.02141851

Explanation:

We first calculate the mean for the stocks

Mean = (0.1858 - 0.0558 + 0.2081) / 3

Mean = 0.3381 / 3

Mean = 0.1127

Variance = [(0.1858 - 0.1127)^2 + (- 0.0558 - 0.1127)^2 + (0.2081 - 0.1127)^2] / 3 -1

Variance = [0.0731^2 + (-0.1685^2) + 0.0954^2] / 2

Variance = 0.00534361 + 0.02839225 + 0.00910116 / 2

Variance = 0.04283702 / 2

Variance = 0.02141851

The variance of returns is 0.02141851

7 0
2 years ago
Selected financial data regarding current assets and current liabilities for Queen’s Line, a competitor in the cruise line indus
RSB [31]

Answer:

Current ratio = 0.33 times

Acid test ratio = 0.29 times

Explanation:

• Current ratio

Current ratio = Total current assets ÷ Total current liabilities

= $875 ÷ $2,638

= 0.33 times

• Acid test ratio

Acid test ratio = Quick assets ÷ total current liabilities

Where,

Quick assets = Total current assets - Inventory

= $875 - $116

= $759

Recall total current liabilities = $2,638

Therefore,

Acid test ratio = $759 ÷ $2,638

Acid test ratio = 0.29 times

8 0
2 years ago
Q 8.17: The financial statements of the Larson Company report net sales of $1,000,000 and accounts receivable of $80,000 and $60
Phoenix [80]

Answer:

25.55 days

Explanation:

first we must calculate the accounts receivable turnover ratio = net sales / average accounts receivable

net sales = $1,000,000

average accounts receivable ($80,000 + $60,000) / 2 = $70,000

accounts receivable turnover ratio = $1,000,000 / $70,000 = 14.286

average collection period = 365 days / accounts receivable turnover ratio = 365 / 14.286 = 25.55 days

8 0
3 years ago
A company invested​ $45,000 in Yale Co. stock. The investment represented​ 5% of the voting stock of Yale Co. If the Yale Co. st
hjlf

Answer:

the dividend revenue account is credited

Explanation:

As we know that the dividend is the company profit that is divisible and the same is to be issued to the shareholder with respective to the number of shares purchased

In the case when Yale Co. paid the dividend so here the dividend revenue account is credited in the case when the company received the dividend

Hence, the dividend revenue account is credited

3 0
3 years ago
Unlike sole proprietorship and partnerships, the corporation has a life independent of its owners and officers. true or false
musickatia [10]

Unlike sole proprietorship and partnerships, the corporation has a life independent of its owners and officers. This statement is true.

<h3>What is Partnership?</h3>
  • In a partnership, parties who are referred to as business partners agree to work together to further their shared objectives. Individuals, companies, interest-based organizations, schools, governments, or combinations of these may be the partners in a partnership.
  • Organizations may work together to expand their reach and increase the likelihood that each will succeed in reaching their goals.
  • A partnership may solely be controlled by a contract, or it may issue and hold stock. Business: Two or more businesses collaborate in a joint venture, a buyer-supplier arrangement, a strategic alliance, or a consortium to: I work on a project (such as an industrial or research project) that would be too difficult or risky for a single entity; and (ii) join forces to have a stronger position on the market.

To learn more about partnership with the given link

brainly.com/question/19988417

#SPJ4

5 0
1 year ago
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