Answer:
$41138
Explanation:
Cash settlement of #16939 plus the note payable of $24199
Explanation:
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The information about the demand shows that macaroni is a normal good.
<h3>What is a demand?</h3>
Demand is the amount of goods and services that a buyer wants to buy at a price and a given time.
Since a 10 percent increase in income leads to a 15% decrease in the quantity of macaroni and cheese demanded. Therefore, macaroni is a normal good and the price elasticity of demand is greater than 1.
Learn more about demand on:
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Answer:
Residual supply = Quantity supplied - Quantity demanded = (p - 20)/0.02 - (80 - p)/0.02
= (p - 20 - 80 + p)/0.02 = (2p - 100)/0.02 = 100p - 5000
So, Excess or residual supply function is: A) Sr(p) = - 5000 + 100p
At price of $ 60, Excess supply = - 5000 + 100(60) = - 5000 + 6000 = 1000
Explanation:
Answer:
b. Cash 500 Accounts Receivable 500
Explanation:
This entry is needed for the settlement of account-based services offered to customers. As a result, we credit Accounts Receivable by $500 for payments obtained from customers that were already billed for those services.
So, Journal entry will be as follows,
Cash A/c Dr. 500
To, Accounts Receivable A/c 500
Hence, option b is the correct answer.