Answer:
In the first range of prices (with PED 15 - 2.5) as the price of the good or service falls, total revenue should increase. Imagine that a 1% reduction in price will result in a 15% increase in quantity demanded. The same happens when PED = 2.5, since a 1% reduction will increase quantity demanded by 2.5%.
e.g. price = $100, quantity demanded = 100, total revenue = $10,000
- price falls to $99, quantity demanded increases to 115, total revenue = $11,385
- price falls to $99, quantity demanded increases to 102.5, total revenue = $10,147.50
On the other range (PED = 1.5 - 0.75) as the price of the good or service falls, at first total revenue will increase but then it will decrease.
e.g. price = $100, quantity demanded = 100, total revenue = $10,000
- price falls to $99, quantity demanded increases to 101.5, total revenue = $10,048.50
- price falls to $99, quantity demanded increases to 100.75, total revenue = $9,974.25
Answer:
$63,500
Explanation:
Calculation to determine Jerry's adjusted basis in his partnership interest at the end of the year
Using this formula
Partnership interest adjusted basis =Partnership interest+Cash contribution+Long-term capital gain+Qualified dividends -Reduction in partnership debt -Non-deductible expenses-Reported an ordinary loss
Let plug in the formula
Partnership interest adjusted basis=$42,000+ $28,000 + $4,800 + $3,800 - $5,800 - $2,300 - $7,000
Partnership interest adjusted basis = $63,500
Therefore Jerry's adjusted basis in his partnership interest at the end of the year will be $63,500
GDP is Gross Domestic Product and GDE is Generic Data Exeption
Answer:
Net Purchase = $365,000
Cost Of Goods purchased = $382,100
Explanation:
given data
Purchases = $383,500
Purchase Returns and Allowances = $12,100
Purchase Discounts = $6,400
Freight-in = $17,100
to find out
net purchases and cost of goods purchased
solution
we know that Net Purchase is express as
Net Purchase = Purchases - Purchase Discount - Purchase Return and Allowances .........................1
put here value in equation 1 we get
Net Purchase = $383,500 - $6,400 - $12,100
Net Purchase = $365,000
and
Cost Of Goods purchased = Net Purchase + Freight ....................2
so put here value
Cost Of Goods purchased = $365,000 + $17,100
Cost Of Goods purchased = $382,100
What is this dealing with exactly?
