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Pavlova-9 [17]
3 years ago
8

Danny "dimes" donahue is a neighborhood's 9-year-old entrepreneur. his most recent venture is selling homemade brownies that he

bakes himself. at a price of $2 each, he sells 100. at a price of $1.5 each, he sells 300. instructions: round your answer to 1 decimal place.
a. what is the elasticity of demand? 3.50 â± 0.1 .



b. is demand elastic or inelastic over this price range? .



c. if demand had the same elasticity for a price decline from $1.5 to $1 as it does for the decline from $2 to $1.5, would cutting the price from $1.5 to $1 increase or decrease danny's total revenue? .
Business
1 answer:
skelet666 [1.2K]3 years ago
7 0

Answer:

A) Price elasticity of demand = 8

B) PED is elastic

C) increase Danny's total revenue

Explanation:

we can calculate the price elasticity of demand using the formula:

PED = % change in quantity demanded / % change in price = [(300 - 100) / 100] / [(1.5 - 2) / 2] = (200 / 100) / (-0.5 / 2) = 2 / 0.25 = 8

if the PED is the same when the price decreases from $1 to $0.50, total revenue will    :

  • when price = $1.50, total revenue = $1.50 x 300 = $450
  • when price = $1, total revenue = $1 x 1,100 = $1,100

*a 33.33% decrease in the price will cause a 266.6% increase (= 33.33% x 8) increase in the quantity demanded = 300 units + (300 x 266.6%) = 300 + 800 = 1,100 units

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Setler [38]

Answer:

Cost of goods sold as per average cost method = $92,458.5

Explanation:

As for the information provided as follows:

Opening Inventory             265 units     @         $153 each      = $40,545

Purchase                             465 units     @         $173 each      = $80,445

Purchase                             165  units     @         $213 each      = $35,145

Total data                            895 units                                        = $156,135

Average cost per unit = $156,135/895 = $174.45

In average cost method simple average is performed, whereas in weighted average weights are assigned.

Sale is of 530 units

Cost of goods sold as per average cost method = $174.45 \times 530 = $92,458.5  

7 0
3 years ago
What term is used to describe the method that allows coplink to access many different databases of law enforcement agencies with
slamgirl [31]

The term is used to describe the method that allows copy link to access many different databases of law enforcement agencies with varying data fields is a multi-dimensional approach Option A

This is further explained below.

<h3>What is a multi-dimensional approach?</h3>

Generally, Because we are utilizing an appropriate and specialized way to access the data basis of law enforcement under multiple data fields, we are able to state that the described method operates under the term known as a multi-dimensional approach.

This is an approach in which the database is accessed and analyzed via numerous dimensions, or we can call data to feel categories, in order to produce appropriate results and more efficient functioning.

In summary, we may reach the following conclusion after reviewing the information presented above: the choice that was picked is the optimal response to the inquiry that was posed.

The question that was presented before has been addressed and clarified; if you have any other questions, please leave them in the comments area below.

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5 0
1 year ago
Riverbed Company designated Jill Holland as petty cash custodian and established a petty cash fund of $236. The fund is reimburs
11Alexandr11 [23.1K]

Answer:

The journal entry is shown below:

Explanation:

According to the scenario, the journal entries for the given data are as follows:

Petty cash A/c Dr  $236

To Cash A/c $236  

(Being establishment of the fund is recorded )

Office supplies A/c Dr  $94

Misc. Expense A/c Dr $89

Cash Over / Short Dr $22             ( $236 - $31 - $89 - $94)

To Cash A/c  $205                        ( $236 - $31)

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3 years ago
An increase in nominal GDP Group of answer choices is both per capita and absolute real economic growth. is per capita real econ
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Answer:

does not necessarily mean either absolute or per capita real economic growth.

Explanation:

Nominal GDP can increase due to high inflation, and that is not real growth since the purchasing power of individuals, businesses and the government doesn't grow. Real GDP growth would mean absolute economic growth.

The GDP per capita measures the GDP divided by the total population of a country, so the nominal GDP or real GDP could grow, but if that growth is less than the population's growth, then the nominal and real GDP per capita will still decrease.

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ivolga24 [154]

Answer:

c.$188,150

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Manufacturing costs* $157,700         $198,300      $201,000

Payment April Costs    $118.275      $39,425

<u>Payment May Costs                         </u><u> 148,725</u><u>           49,575</u>

Cash Payments                                 $ 188,150

None other costs will be paid in the month Of May.

*Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $870 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October). ***Property tax is paid once a year in November.

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