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Nadya [2.5K]
2 years ago
11

Suppose the price of crude oil drops from 150$ a barrel to 120$a barrel. The quantity bought remains unchanged at 100 barrels. T

he coefficient of price elasticity of demand in this example would be
Business
1 answer:
IrinaK [193]2 years ago
7 0

Answer:

coefficient = 0

Explanation:

We have the formula to calculate the price elasticity of demand as following:

<em>Elasticity coefficient = % Change in quantity/ % Change in price</em>

As given:

+) The percentage change in price is: (120-150)/150= - 20%

+) The quantity bought remains unchanged - which means the percentage change in quantity demanded is 0%

=> <em>Elasticity coefficient = % Change in quantity/ % Change in price</em>

<em>= 0/-20 = 0</em>

<em />

<em>So the coefficient of price elasticity of demand in this example would be 0</em>

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he following is from the 2021 annual report of Kaufman Chemicals, Inc.: Statements of Comprehensive Income Years Ended December
o-na [289]

Answer: The answer is given below

Explanation:

An annual report is a report that is comprehensive about the activities of a company in the previous year. The aim of a company publishing its annual report is to give the shareholders and every other interested person information about activities of the company and its financial performance.

We are told that Kaufman calculated the $83 million accumulated other comprehensive income in 2021. This was calculated as the accumulated other comprehensive income in 2020 plus the change in the net unrealized gains on the AFS investments, the net of tax of $12 in 2021 plus the other net income of 2021. This can be represented mathematically as:

= $60,000,000 + $24,000,000 + (-$1,000,000)

=84,000,000 - $1,000,000

=$83,000,000

= 83 million

8 0
3 years ago
Illustrate the following with supply and demand curves:
Alex_Xolod [135]

Answer:

Explanation:

Illustrate the following with supply and demand curves:

a. With increased access to wireless technology and lighter weight, the demand for tablet computers has increased

substantially. Tablets have also become easier and cheaper to produce as new technology has come online. Despite the shift of demand, prices have fallen.

b. Cranberry production in Massachusetts totaled 1.85 mil-lion barrels in 2013, a 15 percent decrease from the 2.12 million barrels produced in 2012. Demand decreased by even more than supply, dropping 2013 prices to $32.30 per barrel from S47.90 in 2012.

c. During the high-tech boom in the late 1990s, San Jose office space was in high demand and rents were high. With the national recession that began in March 2001, however, the market for office space in San Jose (Silicon Valley) was hit hard, with rents per square foot falling. In 2005, the employment numbers from San Jose were rising slowly and rents began to rise again. Assume for simplicity that no new office space was built during the period.

d. Before economic reforms were implemented in the countries of Eastern Europe, regulation held the price of bread substantially below equilibrium. When reforms were implemented, prices were deregulated and the price of bread rose dramatically. Asa result the quantity of bread demanded fell and the quantity of bread supplied rose sharply.

e. The steel industry has been lobbying for high taxes on imported steel. Russia, Brazil, and Japan have been producing and selling steel on world markets at $610 per metric ton, well below what equilibrium would be in the United States with no imports. if no imported steel was permitted into the country, the equilibrium price would be 970 per metric ton. Show supply and demand curves for the United States, assuming no imports; then show what the graph would look like if U.S.

buyers could purchase all the steel that ' they wanted from world markets at $610 per metric ton; label the portion of the graph that represents the quantity of imported steel.

The detailed answer is attached

5 0
2 years ago
Storico Co. just paid a dividend of $3.15 per share. The company will increase its dividend by 20 percent next year and then red
ololo11 [35]

Answer:

The price of the stock today or the price at which the stock should sell today is $61.30

Explanation:

The price of the stock today can be calculated using the Dividend Discount Model approach which values a stock based on the present value of the expected future dividends from the stock. The price of this stock will be,

P0 = 3.15 * (1+0.2) / (1+0.12)  +  3.15  * (1+0.2) * (1+0.15)  /  (1+0.12)^2  +  

3.15 * (1+0.2) * (1+0.15) * (1+0.1) / (1+0.12)^3  +  

[(3.15 * (1+0.2) * (1+0.15) * (1+0.1) * (1+0.05) / (0.12 - 0.05))  / (1+0.12)^3]

P0 = $61.296 rounded off to $61.30

5 0
3 years ago
Variable Input Fixed Input Output Marginal Physical Product of Variable Input Total Fixed Cost Total Variable Cost Marginal Cost
weqwewe [10]

Answer:

$21.67

Explanation:

Exhibit 21-3 is attached with the answer .Please find it.

Total cost of production includes the fixed cost and variable cost. Fixed Cost remains constant as $500 in the exhibit, but the variable cost changes with each production level.

Cost of producing 60 units

Variable cost = $800

Fixed cost = $500

Total cost = $800+500 = $1,300

Product cost per unit = Total cost / numbers of unit = $1,300 / 60 = $21.67

7 0
3 years ago
Baker Inc. acquired equipment from the manufacturer on 10/1/2018 and gave a noninterest-bearing note in exchange. Baker is oblig
bekas [8.4K]

Answer:

4%

Explanation:

Interest included in $918000 is for six months from 10/1/18 to 4/1/12.

Interest for first three month period from 10/1/18 to 31/12/18 = $9000.

This implies that :

Interest from 1/1/19 to 4/1/19 = $9000.

Principal amount excluding interest due:

= Baker's obligation amount - Accrued interest - Accrued interest

= $918,000 - $9,000 - $9,000

= $900,000

Interest rate:

= [($9,000 × 12/3) ÷ 900000] × 100

= 4%

8 0
3 years ago
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