I believe the answer will be that, the Gold sales will decrease by 80%. (200 × 0.4)
Price elasticity is a measure of the change in the quantity demanded or purchased of a product in relation to its price change. It is the percentage change in the quantity demanded of a good or a service divided by the percentage change in the price.
That is; Price elasticity of demand = % change in quantity/% change in price
Answer:
Option "B" is the correct answer to the following question.
Explanation:
Price-setters is a community or individual, who set a fair price for a particular commodity or product, these types of Individual or community has a higher quality of goods or product that gave him the ability to set his prices.
Other firms are called price taker who depend on the market price
Price-setters firms use a pricing approach.
Answer:
Credit to cash for $3,000
Explanation:
Based on the information given the appropiate the journal entry to record payment of this invoice after the discount period has expired is: CREDIT TO CASH FOR $3,000 which is calculated as (1/2*$6,000).
Credit to cash for $3,000
(To record payment of invoice after the discount period has expired)
Answer:
you are able to make better informed decisions
Explanation:
by being well informed on a product you are able to make decisions and see potential problems ahead of the actual problem
Answer:
1. Cost of construction incurred
= Construction in progress - Income
= 150,000 - 25,000
= $125,000
2. Cash collected
= Billings - Accounts receivable
= 143,000 - 35,000
= $108,000
3. Estimated cost to complete;
= (Cost of construction incurred in 2016 * Contract price/Construction in progress) - Cost of construction incurred in 2016
= (125,000 * 2,100,000/150,000) - 125,000
= $1,625,000
4. Estimated percentage of completion used in 2016
= Cost of construction incurred in 2016 / (Cost of construction incurred in 2016 + Estimated cost to complete at end of 2016)
= 125,000 / ( 125,000 + 1,625,000)
= 125,000 / 1,750,000
= 0.0714
= 7.14%
