It means that quantity demanded will increase by 3.5% for every 1% decrease in price.
<h3>What is the price elasticity of demand?</h3>
Price elasticity of demand measures the percentage change in quantity demanded when the price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes. When price increases, quantity demanded decreases by more of than the percentage change in price. When price increases, the quantity demanded declines.
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Answer:
Arona Corporation
Journal Entry:
Debit Finished Goods Inventory $
Credit Work in Process - Waterproofing Department $
To transfer 70 canoes to the finished goods inventory.
Explanation:
Arona Corporation makes this entry to transfer 70 canoes to the finished goods inventory account in order to record the completion of the production process by the Waterproofing Department. The Work in Process of the Waterproofing Department is credited with the value of 70 canoes multiplied by their unit costs. Then the Finished Goods Inventory is debited to record the transfer. These entries show that the Waterproofing Department is not indebted to the organization having completed its assignment.
The value of bonds will sell at premium and decline in value until maturity.
<u>Explanation:</u>
Coupon = 
Number of periods =
= 40
Rate = 
Price = $1,170.21
Key to use in a financial calculator are: FV =1000, N = 40, PMT = 54.25,
= 4.5. CPT PV
As the bond approaches maturity, price of bond will approach its face value.
Thu, it is clear that bonds will see at premium and would decline in value until maturity.
The effect on aggregate demand is: left Shift in the Aggregate Demand Curve - expectations.
Effect on aggregate demand
Left Shift in the Aggregate Demand Curve - expectations means that the total amount consumer tends to spend on goods and services are decreasing.
Consumer spending less can occur when things are costly or due to the inflation which is the rise in the price of goods and services in the market.
Inconclusion the effect on aggregate demand is: left Shift in the Aggregate Demand Curve - expectations.
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Answer: C) direct mail is favored by industrial and commercial property owners.
Explanation:
Direct mail advertising is the method still preferred by most industrial and commercial property owners. This is simply down to the fact that it enables them to build a prospective list of clients that they can always target. They then mail these clients professional ads when there is an opening. The benefit of this is that they are mailing to who they would consider to be an audience more likely to act on the information that way their efforts are not wasted.
