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Svetllana [295]
3 years ago
12

Suppose that at a price of $8, 13,600 units were sold while at a price of $6, 15,200 units were sold. Without calculating the va

lue of price elasticity of demand , can you determine whether demand is elastic, unit elastic, or inelastic between the price of $6 and the price of $8?
Business
2 answers:
HACTEHA [7]3 years ago
5 0

Answer:

Inelastic between the price of $6 and the price of $8

Explanation:

At price $8, the total expenditure ;

= price * Quantity

=$8 * 13600

=$108,800

At price $6, the total expenditure;

=$6 * 15200

=$91,200

Since the total expenditure is decreasing with a decrease in price then the elasticity of demand will be inelastic.

Doss [256]3 years ago
5 0

Answer:

Inelastic

Explanation:

The elasticity of demand is the response of consumers to a change in the price of a product (Barnier, 2020). It is calculated as the percentage change in the quantity demanded divided by the percentage change in price.  

Looking at the number of units sold at each price ($6 and $8), we can determine that the demand is inelastic. The percentage change in demand is smaller than the percentage change in price.  This means that the demand curve will be steep.

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A public service announcement (PSA) for the Partnership for a Drug Free America is aired on three major television networks for
bekas [8.4K]

Answer:

The correct answer is True.

Explanation:

Taking into account that the publicity itself is what it seeks to generate a habit of buying a particular good or service. Because the drug problem is a public health problem, the transmission of this type of advertising is what it seeks to raise awareness in the community about the damage caused by the consumption of psychoactive substances.

6 0
3 years ago
A firm has $800,000 in paid-in-capital, retained earnings of $40,000 (including the current year's earnings), and $25,000 shares
vfiekz [6]

Answer:

The correct answer for option (a) is $1.6 per share and for option (b) is decrease in cash and retained earning.

Explanation:

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

(a) We can calculate the amount that firm can pay in cash dividend by using following formula:

Amount to pay in cash dividend = $40,000 ÷ 25,000

= $1.6 per share

(b). If the cash dividend is $0.80 per share than the cash and retained earning can be calculated as follows:

Cash and retained earning = $0.80 × 25,000 = $20,000

As $20,000 is less than previous, than it will decrease the cash and retained earning.

5 0
4 years ago
Selective optimization with compensation theory states that successful aging is related to three main factors:
antiseptic1488 [7]

Selective optimization with compensation theory states that successful aging is related to three main factors: selection, optimization, and compensation.

<h3>What is selective optimization with compensation theory?</h3>

Selective Optimization With Compensation theory is a theory that refers to a person's lifespan model of psychological and behavioral management.

The lifespan model explains how individuals adapt to changes related to their human development and age-related gains and losses.

Thus, selective optimization with compensation theory states that successful aging is related to three main factors: selection, optimization, and compensation.

Learn more about the three main factors of Selective Optimization with Compensation Theory at brainly.com/question/7227453

3 0
2 years ago
A firm has current assets that could be sold for their book value of $22 million. The book value of its fixed assets is $60 mill
love history [14]

Answer:

the firm market to book ratio is 1.48

Explanation:

The computation of the market to book ratio is shown below:

The Market values is

= $22 million + $90 million - $50 million

= $ 62 million

And, the Book values is

= $22 million + $60 million - $40 million

= $42 million

Now the firm market to book ratio is

= $62 million ÷ $42 million

= 1.48

Hence, the firm market to book ratio is 1.48

6 0
3 years ago
For Wilton Company, the predetermined overhead rate is 70% of direct labor cost. During the month, $360,000 of factory labor cos
bezimeni [28]

Answer:

The amount of overhead debited to Work in Process Inventory should be: a. $182,00

Explanation:

The Overheads are Applied in the Manufacturing Costs as:

Budgeted Rate × Actual Activity for the Month

At the End of the Period we would need to determined whether this amount of overhead is Over or Under Applied by comparing it to the actual overheads incurred of $180,000 (given)

In our Case,  the predetermined overhead rate is 70% of direct labor cost

<em>Thus we need to find the Direct Labor Cost first</em>:

Total Labor Costs               $360,000

<em>Less </em>Indirect Labor Costs<em>  </em>$100,000

Direct Labor Cost              $260,000

<em>Therefore Overheads applied would be determined as:</em>

= $260,000 × 70%

= $182,000

6 0
3 years ago
Read 2 more answers
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