Answer: quantity demanded; price of the goods
Explanation:
Elasticity measures how much one economic variable responds to changes in another economic variable. The price elasticity of demand measures how responsive quantity demanded is to changes in price.
The price elasticity of demand is equal to the percentage change in quantity demanded divided by the percentage change in price. If the quantity demanded changes more than proportionally when price changes, then the price elasticity of demand is greater than 1 in absolute value, and demand is elastic. If the quantity demanded changes less than proportionally when price changes, then the price elasticity of demand is less than 1 in absolute value, and demand is inelastic. If the quantity demanded changes proportionally when price changes, then the price elasticity of demand is equal to 1 in absolute value, and demand is unit elastic.
Perfectly inelastic demand curves are vertical lines, and perfectly elastic demand curves are horizontal lines. Relatively few products have perfectly elastic or perfectly inelastic demand curves.
In terms of income elasticity of demand, a value greater than one implies that the percentage change in the quantity demanded of the good is greater than the percentage change in income.
Answer
C. The government spending to strengthen the economy
Explanation
The fiscal policy is applied by the government to influence the economy through adjusting revenue and spending levels. The Fiscal policy is applied with the monetary policy to give a direction of the economy and reach the set economic goals. In this case, taxation and money transfers has been applied.
Answer:
The corrected balance of ending inventory is $391200 and option d is the correct answer.
Explanation:
The amount of goods sent on consignment by Bedrock of $72400 are already included in the inventory value. These goods belong to Bedrock, the consignor, until they are sold off by the consignee. Thus, no adjustment is needed for this amount.
The ending inventory balance only needs one adjustment that is for office supplies. The office supplies are office consumables and a separate asset than the inventory of the business which is solely for the purpose of selling operations. Thus, the office supplies amount will be deducted from the inventory value.
The correct balance = 414000 - 22800 = $391200
Answer:
A business idea is a concept that could be used to make money, and an opportunity has proven commercial value. The difference between an idea and an opportunity is crucial to avoid wasting significant time and money.
Explanation:
Answer:
$22,500
Explanation:
Data given in the question
Purchase value of the patent = $175,000
Legal fees = $5,000
The Remaining life of the patent = 13 years
Expected using life of the patent = 8 years
So by considering the above information, the annual amortization expense for 2019 is
= (Purchase value of the patent + Legal fees incurred) ÷ (Expected using life of the patent)
= ($175,000 + $5,000) ÷ (8 years)
= $22,500
