Answer:
3
Explanation:
We are asked to use the midpoint formula.
Here, instead of dividing the change in values by the old value as in the normal elasticity calculation, we use the average of the two.
Mathematically:
Price elasticity of demand according to midpoint formula is :
{Q2 - Q1 / (Q2 + Q1) ÷ 2] × 100%} ÷ {[P2 - P1/ (P2 + P1) ÷ 2] × 100}
Price changed from 5 to 7. The midpoint of 5 and 7 is the average = (5+7)/2 = 6
% change in price in this case is (7-5)/6 * 100 = 100/3 = 33.33%
% change in quantity:
We first find the average = (12+4)/2 = 16/2 = 8
% change = (4-12)/8 * 100 = -100%
The elasticity of demand is thus -100/33.33 = 3
Answer:
A is the correct answer.
Explanation:
Sales managers are important for improving a company's revenue. Their job is to create a high-performance sales team and achieve revenue forecasts. Sales managers can improve the quality of their employees. A good manager who gets average salespeople knows how to coach, motivate and advise the salespersons, but for improving the managers would have to know what the salesperson would be doing and what are their traits and abilities job candidates will have to success.
The retailer/store pays the interchange rate.
Answer:
Explanation:
First, we have to compute the accrued interest amount, then only the adjustment entry would be made.
So,
Accrued interest = (Borrowed amount) × (rate of interest) × (number of months ÷ total number of months in a year)
= $8,000 × 12% × 2 ÷ 12
= $160
The two months is calculated from May 1, 2018 to June 30, 2018
Now, we pass the adjustment entry which is shown below:
Accrued interest expenses A/C Dr
To Interest payable
(Being adjustment entry of accrued interest is recorded)
Answer:
$39,000
Explanation:
Down payment refers to the amount that Mr. Coffey paid upfront at the time of purchasing the house. It is usually a percentage of the total cost and is paid in a lump sum.
In this case, Mr. Coffey 20 % of the cost of the house
i.e., 20% of $195,000
=20/100 x $195,000
=0.2x$195,000
=$39,000
