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4 years ago

Consider some determinants of the price elasticity of demand:

Business

1 answer:

DedPeter [7]4 years ago

6 0

Answer:

Elastic

Sports car

Most Elastic: Boot-Cut Jeans

In Between: Pants

Least Elastic: Clothing

Less

Explanation:

A good with many close substitutes is likely to have relatively Elastic demand, since consumers can easily choose to purchase one of the close substitutes if the price of the good rises.

Sports Car has the most elastic demand

If the price of gasoline is relatively high for a long time, consumers are more likely to buy more fuel-efficient cars or switch to alternatives like public transportation. Therefore, the demand for gasoline is Less elastic in the short run than in the long run.

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A product is scarce when what happens?

blondinia [14]

D. Demand is greater than supply

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3 years ago

Read 2 more answers

Calistoga Produce estimates bad debt expense at 0.60% of credit sales. The company reported accounts receivable and allowance fo

liraira [26]

Answer: Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2021 is $246.

Explanation: Calistoga Produce applies percentage of credit sales method to estimate its bad debt expense. So 0.60% of $331,000 (credit sales) = $1,986 and the balance in allowance for doubtful accounts is $1,520. The following journals would be recorded to adjust for the estimate:

Debit Bad debt expense $466

Credit Allowance for doubtful accounts $466

The $466 is the difference between $1,986 and $1,520

Now that the company writes off $1,740 accounts receivable, the following journal entries apply:

Debit Allowance for doubtful account $1,740

Credit Accounts receivable $1,740

In summary, the allowance account movement is as follows:

Opening balance $1,520

Additional bad debt expense 466

Write-off during the year (1,740)

Balance, end of the year $246

6 0

3 years ago

Insurance companies negotiate discounts with hospitals under a(n) Question 10 options: PPO. HMO. EPI. FYI.

nalin [4]

Insurance companies negotiate discounts with hospitals under a PPO. Option A

This is further explained below.

<h3>What are Insurance companies?</h3>

Generally, A corporation, which may be for-profit, not-for-profit, or government-owned, offers the promise to pay for particular expenditures in return for a recurring charge, which is referred to as a premium. For instance, if a person acquires health insurance, the insurance company will pay for (at least part of) the client's medical expenditures, if the client has any medical bills.

In conclusion, Within the context of a PPO, insurance companies negotiate savings with hospitals. Alternative

Read more about Insurance companies

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7 0

2 years ago

What academic information do you have about sub-overseer?

Olenka [21]

Explanation:

Pre-Diploma in Civil Engineering (Civil Sub-Overseer) program is designed to prepare competent general civil sub-overseers equipped with knowledge, skills and attitude especially, in the area construction Engineering & Technology of building construction, water supply, irrigation and road and trail bridges sectors.

They can provide services in the growing infrastructure development industries (civil construction companies and consulting firms) government institutions (centre and local level), local as well as international non-governmental organizations or can start their own business in the country as well as abroad.

4 0

3 years ago

Find the present value of the following stream of cash flows assuming that the firms opportuiny costs is 9 percent. 1-5 years 10

Yanka [14]

Answer:

∑( Cash flow × PVF) = 79,347

Explanation:

Given:

Opportunity cost = 9%

Cash flow for 1-5 years = 10,000

Cash flow for 6-10 years = 16,000

Now,

Present value factor (PVF) = $\frac{\textup{1}}{\textup{(1 + 0.09)^n}}$

here, n is the year

For year 1 to 5

Year Cash flow PVF Cash flow × PVF

1 10000 0.9174 9174

2 10000 0.8417 8417

3 10000 0.7722 7722

4 10000 0.7084 7084

5 10000 0.6499 6499

for years 6 to 10

Year Cash flow PVF Cash flow × PVF

6 16000 0.5963 9540.8

7 16000 0.547 8752

8 16000 0.5019 8030.4

9 16000 0.4604 7366.4

10 16000 0.4224 6758.4

========================================================

∑( Cash flow × PVF) = 79,347

========================================================

taking the PVF to 5 decimal places will make 79,347 ≈ 79,348

8 0

3 years ago