If the quantity supplied by producers is relatively insensitive to price changes, supply is price inelastic.
Inelastic demand is demand for which the change in quantity demanded is small due to changes in price. Demand is elastic if the formula yields an absolute value greater than 1. In other words, quantity changes faster than price. If the value is less than 1, demand is inelastic.
For example, consumers are less price relatively insensitive if the product or service is unique or has few alternatives. Consumers are less price sensitive when total costs are low relative to total revenues. The total effort compared to the total cost of the final product also influences price sensitivity.
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If the quantity supplied by producers is relatively insensitive to price changes, supply is ______. Multiple choice question.
price inelastic.
quantity demanded.
relative price increase.
change in price.
Answer:
<u>means that management has to investigate every budget difference.</u>
Explanation:
- Management has an exception as the practice f examining the financial and operational results of a business. Only bringing the issues to the attention of management when substantial differences in budgets or within the expected amount.
- The concept assumes that business managers handle cases that derive them from the norms and have the main disadvantage of calculation mistakes that results from a large variety of data and finding errors to be consuming activity.
Answer:
Here the variable cost can be computed using the following formula:
Variable cost = (Sales commissions + Shipping expense + Miscellaneous selling expenses) ×Sales
Variable cost = (4% + 1% + 3/4%) x $500,000 = $28,750
Fixed cost = Sales manager's salary + Advertising expense + Miscellaneous selling expenses
= $30,000 + $25,000 + $2,100
= $57,100
<em>Total selling expense budget = Variable cost + Fixed cost</em>
<em>= $28,750 + $57,100 </em>
<em>= $85,850</em>
Answer: Please refer to the explanation section
Explanation:
The question is not clear in terms of when is the financial year end, we only its 2021. We will assume the financial year started in January 2021 and ended December 2021
Operational Lease is an agreement where the lessor (owner of the asset) allows the lessee (user of the asset) to only use the asset without the transfer of ownership. Ownership of the asset is not transferred to the lessee/ user of the asset. lease Payments/ Rental payments are considered as expenses and are recognize in the income statement.
Custom Shirts Inc entered into a Lease agreement on the 1st of September 2021. assuming the financial year ends on December 2021, the expense Recognized in the Income statement for the year ended December 2021 will
$ 24000 x 4 months/12 months =$ 8000
What should you tell her is: She do not have to enroll under Part B before she enroll in a prescription drug plan.
Medicare prescription drug plan is plan that help to cover all prescribed drugs which means that any person under the plan drugs is covered thereby by saving costs.
Based on the scenario every person who is qualified to Part A or who is enrolled under Part B is qualified to register for Medicare prescription drug plan.
Since she is qualified for Part A, she do not need to register or enroll in Part B before been enrolled in a Medicare prescription drug plan.
Inconclusion What should you tell her is: She do not have to enroll under Part B before she enroll in a prescription drug plan.
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