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Alexxandr [17]
3 years ago
6

Barb's Bakery made $200 last month selling 100 loaves of bread. This month it made $300 selling 60 loaves of bread. What is the

price elasticity of demand for Barb's bread?
Business
1 answer:
Virty [35]3 years ago
5 0
The answer will be 150 dollars
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Instead of living in a service economy, we now live in a(n) ________ economy.
Nataly [62]

Instead of living in a service economy, we now live in a(n)  Mixed economy.

Explanation:

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2 years ago
The accounts payable account is a/an_______ ___, and it has a normal.
Viktor [21]

The accounts payable account is a/an option C: <u>liability; credit, </u>and it has a normal.

<h3>What do you mean by Account payable?</h3>

A account payable is refers to as the monet owned by a company to its supplies and its represent in the firm's balance sheet.

The main role of account payable os to provide financial, administrative and clerical support to the firm. Their main role include complete the whole payment and control expenses.

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5 0
1 year ago
Andrina always spends 30 % of her income on thingamabobs. Assume that her income increases by some percentage while the price of
Leni [432]

Answer

<em>What is Income Elasticity of Demand? </em>

Income elasticity of demand is the ratio of percentage change in quantity of a product demanded to percentage change in the income level of consumer. It is a measure of responsiveness of quantity demanded to changes in consumers income.

Income elasticity of demand indicates whether a product is <em>a</em> <em>normal good or an inferior good.</em> When the quantity demanded of a product increases with an increase in the level of income and decreases with decrease in level of income, we get a positive value for income elasticity of demand. A positive income elasticity of demand stands for a normal (or superior) good. When the quantity demanded of a product or service decreases in response to an increase and increases in response to decrease in the income level, the income elasticity of demand is negative and the product is an inferior good.

Formula

Income Elasticity of Demand Ei%\ Change in Quantity Demanded%\ Change in Consumers Income

Percentages are calculated using the mid-point formula, i.e. by dividing the change in quantity by average of initial and final quantities, and change in income by the average of initial and final values of income. Therefore:

Income Elasticity of Demand - Ei = Qf - Qi ÷ Qf + Qi ÷ 2  ÷ If - Ii / If + Ii ÷2

Income Elasticity of Demand - Ei = % Change in Quantity Demanded ÷ % change in consumer Income

<em>Where:</em>

Qf - is the final initial quantities demanded of the product,

Qi - is initial quantities demanded of the product,

If -  is the final incomes of consumer

Ii - is the initial incomes of consumer.

∴

Question

What is her income elasticity of demand for thingamabobs?

Solution:

From the Problem, it can be deduced that -

Qf   -  assume it to be 60 since it is not given

Qi  -  assume it to be 50 thingamabobs?

If -  assume it to be 40% since it is not given

Ii -  30%

Assume the % increase in Income to be                  

∴

Ei = 60 -50/ 60 + 50 ÷ 2  ÷  40 - 30 / 40 + 30 ÷ 2    

Ei = 10/110 /2  ÷ 10/70 ÷ 2

Ei = 10/11 X 70/10 ÷ 2

Ei = 10/55 x 14

Ei = 28/11 = 0.73%    

Therefore the Income elasticity of demand for Adrina is 0.73 %

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3 years ago
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Harman [31]

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7 0
2 years ago
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From the list below, select the items that are classified as a materials activity. Select the correct answers. a.Raw materials u
USPshnik [31]

Answer:

A) Raw materials used

B) Raw materials beginning inventory

C) Raw materials purchases

Explanation:

When we are calculating the cost of goods sold, we must calculate total direct   materials used + total direct labor + overhead overhead costs applied.

To calculate how much direct (raw and intermediate) materials are used, we start with our beginning inventory of (raw and intermediate) materials + purchases of (raw and intermediate) materials - ending inventory of raw materials - indirect materials used.

Some industries only calculate raw materials used, but others might include intermediate components in the equation.

6 0
2 years ago
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