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OLga [1]
4 years ago
6

What information must economists have to estimate the price elasticity of​ demand? To estimate the price elasticity of​ demand,

economists need to know A. the market price and quantity sold. B. the supply curve for a product. C. the demand curve for a product. D. total revenue. E. the change in priceprice.
Business
1 answer:
kkurt [141]4 years ago
3 0

Answer:

C. the demand curve for a product.

Explanation:

Price elasticity of demand is a measure of the sensitivity of demand for a good or service to changes in the price of that product. We say that the price elasticity of demand is elastic when a percentage change in the price of this good has major impacts on demand. On the contrary, we say that the price elasticity of demand is inelastic when variations in the price of goods have little or no influence on demand.

Thus, to determine the value of elasticity, one must know what was the change in price and the change in quantity demanded. In a graph where price and quantity are the x and y axes, this can be obtained by observing changes in the demand curve points, which reflected the price change on one axis and the quantity change on another axis. Thus, it is sufficient to divide the percentage change in quantity demanded by the percentage change in price to find the price elasticity of demand.

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2040 I think because 2 percent of 2000 is 40 so you add 2000+40 and you get 2040
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3 years ago
Samson Enterprises issued a ten-year, $20 million bond with a 10% interest rate for $19,500,000. The entry to record the bond is
erastovalidia [21]

Answer:

Assets: increase by 19,500,000

Liablities: increase by 19,500,000

Equity: no effect

Explanation:

cash proceeds:  19,500,000

      face value:  20,000,000

   discount              500,000

As the bonds issued were sold below par there is a discount.

the entry will be:

cash              19,500,000

discount on BP 500,000

     bonds payable           20,000,000

This will generate an increase on assets for 19,500,000

and increase liablities for 19,500,000

The issuance of bonds do not generate revenues or expenses. So the equity remains unchanged-

3 0
3 years ago
Whats 63% of 1827?<br><img src="https://tex.z-dn.net/?f=%20%7B7%20%5Ctimes%208%7D%5E%7B2%7D%20" id="TexFormula1" title=" {7 \tim
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6 0
4 years ago
Suppose Jose splits his spending across scones and coffees. Due to droughts in coffee-producing regions, the price of coffee dou
Slav-nsk [51]

Answer:

He will be less likely to spend on scones.

Explanation:

Understanding the spending pattern requires to understand the factors involving in purchasing.

  1. Income: Some people live tightly, and for that they have to cut down their expenditures and that affects their spending. Jose will not have much issues although buying scones because they will not be expensive, so this relationship is negative.
  2. Substitution: This will probably affect the the spending of Jones on scones because he used to buy both together, and if he stops spending on coffee he will not buy scones as well.
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3 years ago
Gilbert is an independent consultant who helps organizations select the right accounting software for their needs. After evaluat
tester [92]

Answer:

The principle of the Software Engineering Code of Ethics that Gilbert violated is:

Judgement (as related to full disclosure of personal involvement).

Explanation:

Gilbert is required by the Judgement Principle to "disclose those conflicts of interest that cannot reasonably be avoided or escaped."  Since Gilbert professionally believes that the software meets specifications, secures documents, and satisfies user requirements, it is not quite apparent if he violated any principle.  However, he could have informed his client of his personal interest in the software and also presented other software packages of other companies from which the client could make its independent choice.

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