Atlantic Coffee has recently decided to raise its prices by10%. It was shocked by its customers' reaction to the price increase when sales dropped24%. such a sharp drop in sales occurs because:_the demand for a specific brand of coffee is highly elastic.
The market fee is the modern rate at which an excellent service can be purchased or sold. The market price charge of an asset or carrier is decided with the aid of the forces of delivering and calling for; the fee at which the amount provided equals the amount demanded is the marketplace rate.
The primary price is the amount receivable through the manufacturer from the customer for a unit of an amazing or provider produced as output minus any tax payable, and plus any subsidy receivable, by means of the producer as a result of its manufacturing or sale.
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Answer:
It is more efficient on the cost side for one producer to exist in this market rather than a large number of producers.
Explanation:
Services are actions that you purchase for someone to do for someone else. Basic examples of services are tutoring, hair cuts, car repairs, medical appointments, cleaning service, tech support.
Goods are tangible items that can be physically owned while most services are intangible.
Marginal social cost is defined as the marginal private cost plus the opportunity cost.
When an extra or additional unit of a good or service this produced brings about a change in society's total cost. This change in society's total cost is called marginal social cost. This includes both the opportunity cost and the marginal private cost. So it is the total of the private cost and the external cost that the person has to pay.
Marginal private cost is the change in the total cost of the producer due to the production of an additional unit of a good or service. This cost is also known as the marginal cost of production For example if the production of a person's costs rises from$1,000 to $1,050 due to the production of this one good being produced for $50 is known as the marginal private cost.
The opportunity cost is the benefit the person would have gotten if he would have invested the money elsewhere. For example, if the person has an extra $50. He can either invest it in the business or he can invest it in the bank and get the interest. The interest money that the person has to forgo is called the opportunity cost.
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Answer:
Ending balance in accounts receivable = $57,400.00
Explanation:
given data
accounts receivable = $45,000
bad debts = $4,200
sales = $180,000
to find out
balance at the end of the year for the Allowance for Bad Debts
solution
we know here at Beginning accounts receivable balance is = $45,000.00
and Accounts written off = $2,600.00
so Subtotal is $45000 - $2600 = $42,400
and
so Ending balance in accounts receivable is
Ending balance in accounts receivable = subtotal + Credit Sales - Collection from receivable
put here value
Ending balance in accounts receivable = $42,400 + $180,000 - $165,000
Ending balance in accounts receivable = $57,400.00
