All categories

4 years ago

Which is an example of something that is inelastic?

1 answer:

5 0

-Inelastic means that the consumers will still purchase the product at the same rate despite price changes.
-The answer would be cancer medication, because the consumer would still need to buy this regardless of price. Even if it puts them in a financial bind.
-When having your on a car or watch, if the price of that item increases, you could be less likely to buy it.
-When picking out a hamburger at a restaurant, the customer is most likely to by a cheaper burger if they are on a budget.

You might be interested in

The measure of economic performance that compares how much a system produces versus the resources required to produce it, is kn

pogonyaev

The measure of economic performance that compares how much a system produces versus the resources required to produce it, is known as *productivity*.

8 0

3 years ago

Use the below information to answer the following question.

Alina [70]

Answer:

Follows are the solution to the given point:

Explanation:

The formula for calculating the Quick Ratio:

$\text{Quick Ratio} = \frac{\text{Quick Assets}}{\text{Current Liabilities}}$

$= \frac{43700+86150}{104300}\\\\=\frac{ 129850}{104300} \\\\= 1.24$

$\text{Sales days Receivable at end of year} = (\frac{\text{Account receivables at the end}}{\text{Gross sales by loan}} ) \times \text{number of days}$ $= \frac{86150}{631000} \times 365 \\\\ = 49.833 \\\\ = 50\ days$

$\text{Sales price ratio} = \frac{\text{Sales per share price}}{\text{ Sales Share price}}$

$=\frac{43.20}{\frac{63100}{82000}}\\\\ = \frac{43.20}{0.769}\\\\ = 5.61$

$\text{total equity Debt} = \frac{ \text{Complete Liabilities}}{\text{Stockholders}}$

$= \frac{882400}{(397900+82000)}\\\\ = \frac{882400}{(479,900)}\\\\ = \frac{882400}{(479,900)}\\\\= 1.838$

$\text{Equity Return} = \frac{\text{Net Sales}}{\text{Equity of Shareholder}} \times 100$

$= \frac{96200}{(82000+397900)} \times 100 \\\\ = \frac{96200}{(479900)} \times 100 \\\\= 0.2004 \times 100\\\\= 200.4 \ \%$

Dividends received throughout the year = Restored earnings opening + Net Sales -Closing of restored profits

$= 309000 + 96200 - 397900 \\\\= 7300$

5 0

4 years ago

Which of the following is not true regarding the use of simulation in multinational capital budgeting? a. It can be used to gene

Dmitriy789 [7]

b. It can only be used for one variable at a time is the false statement regarding the use of simulation in multinational capital budgeting.

Explanation:

The process of determining the net present value of the project is known as multinational capital budgeting. The capital budget can be determined by estimating the present value of cash flow in the project and subtracting the initial expenditure required for the projects.

When considering the use of simulation in multinational capital budgeting, it can be used for many variables at a time.

The flow of cash is focused in the long-term investment projects. Multinational capital budgeting can help in determining investment opportunity of the company.

5 0

4 years ago

In a homogeneous-good Cornet model where each of the n firms has a constant marginal cost m and the market demand curve is p = a

Jlenok [28]

Answer:

$Q=nq=\frac{n}{n+1}\frac{a-c}{b}$

if n=1 (monopoly) we have $Q^M=\frac{1}{2}\frac{a-c}{b}$

if n goes to infinity (approaching competitive level), we get the competition quantity that would be $Q^c=\frac{a-c}{b}$

Explanation:

In the case of a homogeneous-good Cournot model we have that firm i will solve the following profit maximizing problem

$Max_{q_i} \,\, \Pi_i=(a-b(\sum_{i=1}^n q_i)-m)q_i$

from the FPC we have that

$a-b\sum_{i=1}^n q_i -m -b q_i=0$

$q_i=\frac{a-b \sum_{i=2}^n q_i-m}{2b}$

since all firms are homogeneous this means that $q_i=q \forall i$

then $q=\frac{a-b (n-1) q-m}{2b}=\frac{a-m}{(n+1)b}$

the industry output is then

$Q=nq=\frac{n}{n+1}\frac{a-c}{b}$

if n=1 (monopoly) we have $Q^M=\frac{1}{2}\frac{a-c}{b}$

if n goes to infinity (approaching competitive level), we get the competition quantity that would be $Q^c=\frac{a-c}{b}$

7 0

3 years ago

When scheduling the audit work to be performed on an engagement, the auditors should consider confirming accounts receivable bal

Dvinal [7]

Answer:

The correct answer is letter "B": Internal control over receivables is good.

Explanation:

Only in the case the internal control of an organization is well-established enough so those account receivables (AR) are paid according to the terms agreed between the organization and its debtors, auditors could consider the balance of the account receivables at a provisional date.

7 0

4 years ago