Answer:
remains unchanged as price increases when demand is unit elastic.
Explanation:
Total revenue = price × quantity
Demand is elastic when a small change in price has a greater effect on the quantity demanded.
If price is increased and demand is elastic, quantity demanded would fall more than the increase in price and total revenue falls.
Demand is inelastic if a small change in price has little or no effect on quantity demanded.
If price is increased and demand is inelastic, change in quantity demanded would be less than changes in price. As a result, total revenue would increase.
Demand is unit elastic if a change in price has an equal proportional effect on quantity demanded. The elasticity of demand always sums up to one.
If price is increased and demand is unit elastic, there would be no change in total revenue.
I hope my answer helps you
Answer:
2021
revenues 420,000
gross profit 112,000
2022
revenues 1,680,000
gross profit 65,000
Explanation:
2021:
Cost incurred 308,000
Estimed to complete 1,232,000
Total cost 1,540,000
Percentage of completion 308,000 / 1,540,000 = 20%
Revenue will be recongize for 20% of the total
2,100,000 x 20% = 420,000
Less Cost (308,000)
Gross Profit 112,000
For 2022 we recognize the rest as the project is completed
2,100,000 - 420,000 = 1,680,000
Incurred Cost (1,615,000)
Gross Profit 65,000
I believe it's A. bearing since they are low friction bearings designed to reduce surface area, friction
Answer:
Bad debt expense = $28000
Ending balance = $4000
Explanation:
given data
Credit sales= $800000
Cash collection = $780,000
Write off = $16,000
rate = 3.5 %
to find out
ending balance of Accounts Receivable is
solution
first we get Bad debt expense that is express as
Bad debt expense = 800000 × 3.5%
Bad debt expense = $28000
and
Ending balance is express as
Ending balance = Credit sales - Cash collection - Write off ..............1
put here value
Ending balance = $800000 - $780,000 - $16,000
Ending balance = $4000
Answer:
Consider the following calculations
Explanation:
Co = low fare = $ 100
Cu = high fare - low fare = 400 - 100 = $ 300
Critical ratio = Cu/(Cu+Co) = 300/(300+100) = 0.75
In the table, look for F(q) >= 0.75 , that value is 0.792 and corresponding value of q = 12. Therefore,
Optimal protection level = 12
Refer the table for q=12, Expected shortage, L(q) = 0.5
Expected high fare seats to be sold = Mean demand - Expected shortage = 10-0.5 = 9.5
Probability of a full flight = 0.792
