Find the gross profit fro the sale of the television:
Gross profit = Sales - Cost of goods sold
Gross profit = $1,600 - $225
Gross profit = $1,375
The gross profit of a sale is the profit from sales minus the cost it took to produce/complete the item or service.
Answer:
$8.75
Explanation:
The sales tax is on non-grocery is 7%
Sales tax on an item costing $125 will be
=7% of $125
=7/100 x $125
=0.07 x $125
=$8.75
Answer:
The correct answer is option D.
Explanation:
Long-run elasticities of demand differ from short-run elasticity. In the short period is more inelastic. This is because people take time to adjust their consumption habits. So if the time period people have to adjust to the price change is long, then the demand will be elastic.
Durable goods can be used for a relatively long time. So they will have a less elastic demand.
