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Tju [1.3M]
3 years ago
7

Suppose the market for orange juice is in equilibrium at a price of $2.00 per bottle and a quantity of 4200 bottles per month. N

ow suppose that at a price of $3.00 per bottle, quantity demanded falls to 3000 bottles per month and quantity supplied increases to 4500 bottles per month
Business
1 answer:
Ainat [17]3 years ago
5 0

Answer:

Price elasticity of demand = 1.2

Explanation:

Given:

Old price (P0) = $2

New Price (P1) = $3

Old quantity (Q0) = 4,200

New quantity (Q1) = 3,000

Price elasticity of demand = ?

Computation of Price elasticity of demand :

Price elasticity of demand = % change in quantity / % change in price

Price elasticity of demand = [(4,200-3,000)/3,000] / [(3-2)/3]

Price elasticity of demand = 1.2

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sergey [27]

The lengthy after being granted BIC eligibility does the dealer have to complete the specified 8-hour basic training: 120 days

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8 0
2 years ago
PB8.
Sophie [7]

Answer:

                                                                   Debit               Credit

Applied overheads                                    $110,000

Cost of sales (over applied overheads)                             $4,000

Overhead control account                                                 $106,000

Explanation:

Since the estimated overhead amounting to $110,000 are greater than the actual overheads amounting to $106,000, therefore the overheads are overapplied by $4,000.

The journal entry to disposed off the overapplied overheads are given below:

                                                                   Debit               Credit

Applied overheads                                    $110,000

Cost of sales (over applied overheads)                             $4,000

Overhead control account                                                 $106,000

                   

3 0
2 years ago
Anthony and Michelle Constantino just got married and received ​$29,000 in cash gifts for their wedding. How much will they have
bearhunter [10]

Answer:

Future value will be larger with smaller compounding period; $373.4 more would be earned with shorter compounding period.

Explanation:

Given:

Amount to be invested = 29,000÷2 = $14,500

Duration if amount invested = 25 years

Rate = 4% or 0.04 compounded annually

Value of investment at the end of 25 years = 14,500\times(1+0.04)^{25}

                                                                         = $38,654.63

Future value if compounded annually is $38,654.63

Future value if semi-compounded annually:

Duration = 25×2 = 50 periods

Rate = 0.04÷2 = 0.02

Value of investment at the end of = 14,500\times(1+0.02)^{50}

                                                                         = $39,028.03

Future value if semi-compounded annually is $39,028.03

As such, future value is larger if compounding period was 6 months.

They would have earned $373.40 more that is (39,028.03 - 38,654.63), with shorter period.

8 0
3 years ago
In a market with 1,000 identical firms, the short-run market supply is the
kompoz [17]

Answer: Option(a) is correct.

Explanation:

Correct Option : Marginal cost curve above average variable cost for a typical firm in the market.

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Therefore, the supply curve of the firm is the above part of the MC curve from the minimum point of average variable cost.

8 0
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Why are we forced to make choices in day-to-day life? we are forced to make choices in day-to-day life because of resources.
rewona [7]
We are forced to make choices in our day to day life because our resources are limited.

An example of this limited resources is our financial resources, we need to work to earn money to buy our necessities to live a comfortable life. Simply put, no work no pay. No pay, no food. No food, no life. So, no choice but work.
6 0
3 years ago
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