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almond37 [142]
3 years ago
7

Which is true regarding elasticity of supply ?

Business
1 answer:
sergij07 [2.7K]3 years ago
6 0

Answer:

A factor in supply elasticity is production difficulty

Explanation:

The quantitative relation between price of products and its commodity is established by the elasticity of supply. The longer the time period that an organization is allowed to adjust its production targets, the more the supply price becomes elastic. Availability of resources is one of the factor, because the resource will become increasing expensive which consequently increase the price of the products and its production.

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Select the correct answer.<br> How is augmented reality used in businesses?
garri49 [273]

Answer:

It uses everyday things, items like iPhones or tablets, sensors and market to find the place of physical items and then suggest where to put virtual objects.

This might be a little off since I'm not very familiar with business stuff, but I hope this helps.

7 0
3 years ago
Assuming the contract qualifies for revenue recognition while the performance obligations are being satisfied, excluding cash, w
shepuryov [24]

Question Completion:

Blue Co. had the following first-year amounts related to its $12,000,000 construction contract Actual costs incurred and paid Estimated remaining costs to complete Progress billings Cash collected $3,000,000 6,000,000 3,500,000 3,100,000 Assuming the contract qualifies for 'revenue recognition over time, what total amount (excluding cash) should Blue Co. recognize as current assets at year end?

Multiple Choice

a) $3,000,000

b) $1,000,000

c) $0

d) $900,000

Answer:

Blue Co.

The total amount (excluding cash) that Blue Co should recognize as current assets at year end is:

d) $900,000

Explanation:

a) Data and Calculations:

Value of Construction Contract =              $12,000,000

Actual costs incurred and paid                    $3,000,000

Estimated remaining costs to complete     $6,000,000

Progress billings                                           $3,500,000

Cash collected                                              $3,100,000

Percentage completion during the first year = Actual costs incurred/Total costs * 100

= $3,000,000/$9,000,000 * 100 = 33.333%

Revenue to be recognized based on percentage of completion and revenue recognition over time = $12,000,000 * 33.333%

= $4,000,000

Accounts Receivable = $900,000 ($4,000,000 - $3,100,000)

8 0
3 years ago
Which statement is the best description of a price‑taker as it pertains to perfect competition?
Nesterboy [21]

Answer:

The correct answer is letter "A": Mary Beth grows cotton. She finds that she can always sell her entire crop at the market price. However, if she asks a price that is even slightly higher she cannot sell any of her cotton.

Explanation:

Perfect Competition is a market where competition is at the highest degree possible. Perfect competitive markets have the following characteristics:

  1. <em>All companies sell the same goods or services.  </em>
  2. <em>All companies are price takers.  </em>
  3. <em>All firms have relatively small market shares.  </em>
  4. <em>Buyers have full product and price information.  </em>
  5. <em>The industry is characterized by low or no barriers to entry and exit of the industry.</em>

<em />

Thus, <em>in Mary Beth's case, she cannot ask for a different price than the one of the market because in a perfectly competitive market it is controlled by supply and demand. Companies cannot set the price.</em>

8 0
3 years ago
Budgeted Sales for January: 8,000 Units Budgeted Sales for February: 10,000 Units Budgeted Sales for March: 12,000 Units Beginni
blondinia [14]

Answer:

Production= 10400 units

Explanation:

Giving the following information:

Budgeted Sales for January: 8,000 Units

Budgeted Sales for February: 10,000 Units

Budgeted Sales for March: 12,000 Units

Beginning Finished Goods for January: 3,000

Units Pevensie Inc. plans to have an ending finished goods inventory of 20% of next month's projected sales.

We will assume that the ending finished goods of January reaches 20% required for February.

<u>February:</u>

(+)Budgeted Sales for February= 10,000 Units

(+)Ending finished goods= 12000*0,20= 2400 units

(-)Beginning finished goods inventory= 2000 units

Production= 10000+2400-2000= 10400 units

8 0
3 years ago
the cost of quality has two components: the cost of good quality. the costs for good quality are the cost of monitoring and prev
Marta_Voda [28]

Answer: Quality is never costless because monitoring and prevention have costs

Explanation:

The cost of quality has two parts which are the cost of prevention and the cost of failure. The cost of quality simply refers to the sum of the prevention cost and the cost of failure.

It should be noted that spending more on prevention helps in reducing the cost of failure. According to experts, quality is is never costless because monitoring and prevention have costs.

8 0
3 years ago
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