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gladu [14]
3 years ago
9

Suppose a shortage in materials results in decrease in the supply of golf balls in the United States of 5%. If the elasticity of

demand of golf balls sold in the US is -0.8, the new equilibrium price will be
Business
1 answer:
snow_lady [41]3 years ago
5 0

Answer:

price elasticity of supply (PES) = % change in quantity supplied / % change in price

  • PES = -0.8
  • % change in quantity supplied = -5%

-5% = -0.8 / % change in price

% change in price = -0.8 / -5% = 16%

we are not given the initial price of the golf balls and I looked for similar questions but couldn't find any. But assuming that the initial price is $1, then the new price = $1 x (1 + 16%) = $1.16. If the initial price was $2, then new price = $2 x (1 + 16%) = $2.32. And son on.

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Jasper makes a $31,000, 90-day, 6.5% cash loan to Clayborn Co. The amount of interest that Jasper will collect on the loan is:__
pochemuha

Answer:

the amount of interest that is collected is $503.75

Explanation:

The computation of the amount of interest that is collected is shown below:

= Cash loan × number of days ÷ total number of days × rate of interest

= $31,000 × 90 days ÷ 360 days × 6.5%

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Hence, the amount of interest that is collected is $503.75

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2 years ago
YoYo Fashion December 31, 2013 balance sheet showed total common equity of $5,500,000 and 250,000 shares outstanding. During 201
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Answer:

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Explanation:

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If you own a small business, which of the following helps with your finances?
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On May 1, 2017, ABC Company signed a contract to provide 1 year of marketing research services to Anderson Company starting on M
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Answer:

Debit          Cash Account                              $12,000

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The ____ the proportion of the final product that suppliers provide, the _____ the impact they will have on overall product cost
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