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marin [14]
3 years ago
12

Suppose the price of university sweatshirts increases from $10 to $20 and the quantity supplied increases from 20 to 30. The pri

ce elasticity of supply, using the midpoint formula, is:
A 1.66.
B 1.50.
C 0.66.
D 0.60.
Business
1 answer:
Finger [1]3 years ago
7 0

Answer:

D 0.60.

Explanation:

Elasticity of Supply measure the responsiveness of supply against the change in price of the product.

Using mid point method

Change in Quantity = ( S2 - S1 ) / [ ( S2 + S1 )/2 ]

Change in Quantity = ( 30 - 20 ) / [ ( 30 + 20 )/2 ]

Change in Quantity = 10 / 25

Change in Quantity = 0.4

Change in price = ( P2 - P1 ) / [ ( P2 + P1 )/2 ]

Change in price = ( $20 - $10 ) / [ ( $20 + $10 )/2 ]

Change in price  = $10 / $15

Change in price  = 0.67

Elasticity of Supply = Change in Quantity / Change in Price

Elasticity of Supply = 0.4 / 0.67

Elasticity of Supply = 0.597 = 0.60

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djverab [1.8K]

Answer and Explanation:

The journal entry is shown below:

Bad debts expense Dr $60,000  

        To Accounts receivable $60,000

(Being the written off amount is recorded)

For recording this we debited the bad debt expense as it increased the expenses and credited the account receivable as it reduced the assets

So for correcting posting and recording we passed accurate entry

4 0
3 years ago
For each of the scenarios below, determine whether the employer is likely to be discriminating against a person because of age:
barxatty [35]

Answer and Explanation:

In the U.S., the Equal Employment Opportunity Commission (EEOC) is the authority protecting individuals from discrimination at work in any kind because of <em>race, gender, age, religion, ethnicity, nationality, language, sexual orientation, impairment</em> differences or any other type of unfair treatment not related to work itself.

Age discrimination could take place when certain groups of individuals are valued more than others because of their youth or because their white hair represents experience. In any situation, unequal opportunities are given which must be sanctioned. Thus:

A) A young lawyer who just finished work on a multimillion-dollar development deal downtown is hired by an economic development firm in lieu of an older lawyer who works on litigation.  

<em>This example does not represent discrimination because the election is based on performance rather than age. </em>

B) A large retail outlet hires a 30-year-old woman to greet customers instead of an 80-year-old woman who has been greeting customers in other stores for a decade.  

<em>This example reflects discrimination because a younger woman is hired mainly based on her age rather than her expertise. </em>

C) The owner of a local, hip smoothie bar in a university town just fired a graduate student who had worked at the bar for three years and instead hired a college sophomore.

<em>This example represents discrimination since a younger student is hired to replace another student who was in the last year of university.</em>

3 0
3 years ago
___________is a conductor installed on the supply side of a service or separately derived system to ensure the required electric
g100num [7]

Answer:

Supply-side bonding jumper

Explanation:

A supply side bonding jumper is a transmitter on the stockpile side or inside an assistance or independently inferred framework to guarantee the electrical conductivity between metal parts required to be electrically associated.  

A bonding jumper on the stock side of an over current gadget  

The size of the stock side holding jumper depends on the unground stage conductors

7 0
3 years ago
Wilma’s Vegetable Market had the following transactions during 2017:
babymother [125]

Answer:

Journal Entries are as follows.

Explanation:

1.   Cash               $25,000 (Debit)

          Common Stock                              $ 25,000 (credit)

2.   Wages             $10,000  (debit)

               Cash                             $10,000 (credit)

3.  Land                         $ 50,000 (debit)

           Common Stock                        $50,000  (credit)

4.    Dividend Declared    $ 1000  (debit)

                    Dividend Payable            $ 1000 ( credit)

And

   Dividend Payable            $ 1000 ( debit)

                 Cash                           $ 1000 (credit)

5.        Cash               $ 3000  (debit)

              Long Term  Investment            $ 3000 (credit)

6.     Cash                    $ 20,000  (debit)

                Sales                        $ 20,000        ( credit)

7.       Inventory           $2000 (debit)

            Cash                      $ 2000  (credit)

8.      Investment                 $ 6000 ( debit)

               Cash                                             $ 6000 (credit)

9.  Bonds Payable                   $ 10,000  (debit)

                 Discount                             $ 1000 (credit) ( if there's any)

                  Common Stock               $ 9,000 ( credit ) ( in case of discount)

10.    Notes Payable                             $ 10,000  (debit)

Interest on Notes Payable                    $ 1,000 (debit) ( suppose there's interest of $ 1000 on $ 10,000 Notes Payable)

                         Cash                                                    $ 11,000 (credit)

4 0
3 years ago
A statement of cash flows helps answer all of the following:
Lina20 [59]

Answer:

1. What explains the changes in the cash account?

2. Where does a company spends its cash?

4. How does a company receives its cash?

Explanation:

The Cashflow statement deals with the cash transactions of the company with a view to know how actual cash moves through the company. As a result, it can answer questions related to the cash transactions of the company.

This includes:

  • Why there were changes in the cash account because it shows what activities brought in cash and which took cash.
  • Where the company spends its cash because those entries will be shown.
  • Where the company gets its cash as well.
6 0
2 years ago
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