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nydimaria [60]
3 years ago
7

Suppose the price elasticity of demand for oranges is 0.8. if a fall frost destroys one-third of the nation's orange crop, how w

ill that affect total revenue from oranges, all other things unchanged?
Business
1 answer:
Tresset [83]3 years ago
3 0
<span>Total revenue from oranges will fall. Notice that the question assumes everything else unchanged. This means that even though the quantity has been reduced by the frost, the price is unchanged. Thus all producers are selling fewer oranges at the same price. It logically follows that total revenue will fall.</span>
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If your economics class were graded on a curve and everyone agrees to study only half as much, everyone would get the same grade
34kurt
STUDY!!!!!!!!!!!!!!!!!!!
6 0
2 years ago
A three-year bank CD paying 7.23 percent compounded quarterly. Calculate effective annual interest rate (EAR)? (Round answer to
Serggg [28]

Answer:

Follows are the solution to the question:

Explanation:

m = 4,

EAR = (1 + \frac{0.08}{4}) \times 4-1

       =  1 + 0.02 \times 4-1\\\\=  1 + 0.08 -1\\\\= 0.08\\\\

The successful quarter cumulative rate of interest = 8.24 \%

In Method 2 use Tool in Texas:

By Using the (ICONV) worksheet:

1)

To pick the worksheet, click ICONV 2.

2)

Its previous meaning will represent the NOM.

3)

To clear the worksheet, click [CLR WORK] 2nd

Continue as below.

Displayed keystrokes:

NOM = previous value 2nd ICONV:

NOM = 0.00 2nd CLRWORK:

8 DAYS: Name = 8.00.

EFF: DownArrow = 0.00

DownArrow: C / Y = meaning previous

4)

DOS: C / Y = 5.00 p.m.

EFF: DownArrow = 0.00

CPT: FRP = 8.24

3 0
2 years ago
Which financial institution is known as a cooperative association?
Serhud [2]

Answer:

<em>Credit Unions</em><em> </em>is known as a cooperative association.

hope it helps!

5 0
3 years ago
Capitol Supply's sales and sales force have continued to expand. Now, the firm plans to add a fleet of company cars as part of i
jekas [21]

Answer:

New-Task.

Explanation:

New-task purchase is that purchase made by a business of which need has not arisen before. The business didn't made decision to make purchase for this new product or purchase before. The new-task purchase decision is made by the business when a need to purchase is perceived internally or by the clients.

In the given scenario, the need to purchase 'cars as part of its sales compensation' defines the criteria of new-task purchase. In this case, Capitol's need to buy or add 'cars' into its sales compensation represents need to make 'New-task purchase.'

Therefore, the correct answer is new-task purchase.

6 0
3 years ago
Coronado Company has recorded bad debt expense in the past at a rate of 1.5% of accounts receivable, based on an aging analysis.
boyakko [2]

Answer:

The cumulative effect of changing the estimate for bad debt expenses is $0.

Explanation:

Changes in accounting estimates are shown for the period of change and future period if the change affects future period also. These changes are not carried back to adjust prior years.

The cumulative effect of changing the estimated bad debt rate to 2% from 1.5 % will be shown only for 2020.

Increased bad debt expense in 2020 will be $108,400 when 2% rate was used.

If the new rate had been used in prior years, cumulative bad debt expense would have been $380,000 instead of $285,000. In 2020, bad debt expense will be $108,400 instead of $81,300.

Coronado’s tax rate = 30%  

So bad debt expense will increase by $108,400 and Allowance for doubtful accounts will increase by $108,400 in 2020.

But the cumulative effect of changing the estimated bad debt rate will be 0.

Change in bad debt expenses estimate is not retrospective also tax will not change due to changes in estimate.

Therefore, The cumulative effect of changing the estimate for bad debt expenses is $0.

7 0
3 years ago
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