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3 years ago

The price elasticity of supply for basmati rice (an aromatic strain of rice) is likely to be which of the following?

1 answer:

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Answer: D. Higher in the long run than the short run, because farmers cannot easily change their decisions about how much basmati rice to plant once the current crop has been planted.

Explanation:

Price Elasticity of Supply refers to how Supply changes in response to a change in price. Essentially, if the price of a good increases, will Supplier supply more or less of that good as a result and by how much will they do so.

In the short run, the farmers would have already planted the crops and so would be unable start changing the quantity that they expect from the harvest. They will therefore supply the amount they harvested regardless of a price change.

In the long run however, they can change the amount of rice planted depending on the price of the rice in the market. Price Elasticity is therefore higher in the long run than in the short run.

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Mr. Green enters into a contract with Mr. Blue who is a crab fisherman. Mr. Green and Mr. Blue know that Mr. Blue has already ca

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Answer:

The contract is void since it attempts to contract for services that are illegal

Explanation:

Since there is a contract between the Mr Green and Mr Blue and they already know that the Mr blue has already caught the number of crabs i.e permitted in the season but they agree to exceed the quota

Therefore the status should be void as they want to exceed which is not permitted that results in illegal service contracts

Hence, there is a void contract

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3 years ago

On the first day of its fiscal year, Chin Company issued $10,000,000 of five-year, 7% bonds to finance its operations of produci

icang [17]

Answer:

The description for problem is listed throughout the section there on the explanations.

Explanation:

(A)...

(1) Prepare your entry in the report to document the bonds issuance.

To track or record bond issues, debit card wallet, debit discount, including credit bond liable as seen below:

Date Account title Debit Credit

1st Jan Cash $9594415 -

Bond payable discount $405585

Payable bond $10000000

(2) Arrange the entry to report the first half yearly interest payment

For report semi-annual interest charges, departmental interest cost, credit discounts on bonds payable as well as credit cash as can be seen here:

Date Account title Debit Credit

30th June Interest expense $390559 -

Bond payable discount - $40559

Cash (10000000×3.5%) $350000

(3) Arrange the entry to report the Second half yearly interest payment

For report semi-annual interest charges, departmental interest cost, credit discounts on bonds payable as well as credit cash as can be seen here:

Date Account title Debit Credit

31st Dec Interest expense $390559 -

Bond payable discount - $40559

Cash $350000

(B)...

Evaluate the sum of first year bond interest.

Particulars Amounts

Interest expense (350000+350000) $700,000

Amortized discount (40559+40559) $81,117

For the first year, Interest expense $781,117

(C)...

The corporation sold the bond for $9,594,415 with a maximum interest of $10,000,000. That would be the $405,585 bond is sold cheaply. The debt are heavily discounted because bond market value is greater than that of the coupon price mostly on debt.

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3 years ago

HELP PLEASE .......Suppose that you are opening a new music store in your town. What resources would you need from the factor ma

love history [14]

Answer:

Labor and store space (land and building)

Explanation:

In economics, the factor market refers to the purchase and sale of <u>factors of production,</u> which include land, labor, capital, and entrepreneurship.

4 0

3 years ago

On June 1, 2022, Crane Company was started with an initial investment in the company of $21,725 cash. Here are the assets, liabi

Sav [38]

Answer:

The preparation is shown below:

Explanation:

The preparation of the month of June income statement for Crane Company is shown below:

Crane company

Income statement

Revenue

Service revenue $7,900

Total revenues $7,900 (A)

Less: Expenses

Supplies expense $1,155

Maintenance and repairs expense $690

Advertising expense $400

Utilities expense $210

Salaries and wages expense $1,100

Total revenues $3,555 (B)

Net income $4,345 (A- B)

And, the preparation of the retained earning statement is presented below

Crane company

Retained Earning statement

For the month of June

Beginning balance of retained earning $0

Add: Net income $4,345

Less: Cash Dividend paid -$1,738

Ending balance of retained earning $2,607

7 0

3 years ago

If accounts receivable increase during the period,revenues on an accrual basis are less than revenues on a cash basis.expenses o

OleMash [197]

In this case, they would understand the revenue, report the money owed receivable fee, and record the expenses for the sale all at the same time.

Revenue is the total quantity of earnings generated with the aid of the sale of goods or services associated with the business enterprise's number one operations. sales, also referred to as gross sales, is frequently referred to as the "top line" as it sits on the top of the profits announcement. earnings, or internet income, is a business enterprise's total income or income.

Revenue = fee of goods or offerings × variety of units offered or quantity of customers. for instance, if a corporation sells 10 computer systems at ₹50,000 each, it can use this system to calculate its gross revenue: Gross sales = ₹50,000 × 10 = ₹500,000.

Revenue refers to the overall income a company generates via its center operations like sales of services or products, rents on a property, routine payments, interest on borrowings, and so on. sales calculations come earlier than doing away with any fees, together with discounts and returns.

Learn more about Revenue here:brainly.com/question/25623677

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2 years ago