Answer: Lower the price because demand for the good is elastic.
Explanation:
The good is elastic because the elasticity is more than 1. What this means is that when the price of the good is reduced by 1%, the demand of the good will increase by 3.5%.
If the company wishes to raise revenue therefore they should reduce their prices because more people would then buy the goods and the number of more sales would lead to higher revenue.
Answer:
The recorded balance will be = $445500
Explanation:
We have given that Metlock purchases the land for cash $430000
Property tax = $4600
The title and attorney fee = $2900
The clinic had a land graded for $8000
We have to find the amount the Metlock lnc record as the cost of land
The record will be equal to = $430000+$4600+$2900+$8000= $445500
So the recorded balance will be = $445500
Answer:
c. Increase the amount of the initial investment by $12,000.
Explanation:
The amount of investment has to be increased by $12,000 because the truck constitutes an investment into the project and this should be accounted for
<span>A monopolistically competitive market could be considered inefficient because price exceeds marginal cost. A monopolistic competitive market is defined as imperfect </span>competition because there are many producers that sell products that differentiate from each other. Because these products differentiate between how they branded and their quality they are not able to be perfect substitutes for one another.
