1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Dennis_Churaev [7]
3 years ago
7

In July, Harry's shoes sold 8 pairs of purple crocs for $75 each. On the first day of August, he lowered the price of purple cro

cs to $50 each and sold 27 pairs during the month. Does this demonstrate Elastic Demand or Inelastic Demand? ​
Business
1 answer:
Tom [10]3 years ago
6 0

Answer:

Elastic Demand

Explanation:

The term elastic means stretchy or stretching. Elastic demand implies a demand that is changing or moving.

Elastic demand is the term used to describe the demand for a good that changes due to an increase or decrease in prices. A product or service whose demand changes significantly in response to a small change in price is said to have elastic demand.

The scenario described in this case is that of elastic demand. The demand for purple crocs rose from 8 in July to  27 in august. An increase of 19 units, which represents an increase of 237 percent. The increase in demand was a result of a decrease in price from $75 to $50.  The price changes by $25, which is a decline of 33 percent. A drop in price by 33 percent results in a rise in demand by 237 percent is an illustration of elastic demand.

You might be interested in
How did whirlpool use capabilities of text analytics to better understand their customers and improve product offerings?
77julia77 [94]

Whirpool use the competences to enhanced their understanding of their customers and develop product offerings by as we know that Whirpool Corporation takes a cooperative approach to social media networks, with the Digital Marketing, Public Relations, and Customer Care teams all concerted effort to make available a reliable and trustworthy brand voice to its customers. 

5 0
3 years ago
Betty's lead needs to get a report of all of the purchases made only by his employees, usingtheir employee discount, in a given
strojnjashka [21]

Answer:

Exception reports

Explanation:

An exception report is a document that shows where actual performance deviated significantly from what was expected, usually in a negative direction. It shows what is abnormal. The exception report then focuses the attention of the management on those areas that would be needing immediate intervention.

8 0
2 years ago
Some of your senior employees have started changing important information in a new call script. Newer employees have noticed, an
gregori [183]
The answer is b,c and e
5 0
2 years ago
Read 2 more answers
Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for s
zmey [24]

Answer:

Please see attached solution

Explanation:

a. Cost of goods sold . Detailed explanation attached.

b. Ending inventory. Detailed explanation attached.

Note 1.

Weighted average cost per unit on January 20

= $1,545,000/20,000 units

= $77.5

Note 2

Weighted average cost per unit on January 30

= $948,000/12,000 units

= $79.00

3 0
3 years ago
preparing adjusting and closing entries across two periods norton company closes its accounts on december 31 each year. the comp
Rama09 [41]

Answer:

Requirement: <em>Prepare journal entries to: (a) Accrue the salaries payable on December 31, b) Close the Salaries Expense account on December 31 (the account has a year-end balance of $250,000 after adjustments), (c) Record the salary payment on January 7</em>

Date     Accounts title and Explanation      Debit          Credit

31-Dec  Salaries expense                             $1,880

                   Salaries Payable                                             $1,880

             (To record accrued salaries )  

31-Dec   Retained Earnings                          $250,000  

                     Salaries Expense                                          $250000

              (To close salaries expense account)

07-Jan   Salaries Payable                             $1,880

              Salaries expense                            $2,920

                     Cash                                                                $4,800

              (To record payment of salary)

3 0
2 years ago
Other questions:
  • Eaton Tool Company has fixed costs of $340,400, sells its units for $80, and has variable costs of $43 per unit. a. Compute the
    12·1 answer
  • Romero Inc. manufactures paper products. One set of workers at Romero Inc. has the full-time job of sorting scrap as it enters t
    8·2 answers
  • Assume there is no leakage from the banking system and that all commercial banks are loaned up. Suppose the reserve ratio is 25%
    6·1 answer
  • "______ accounting uses adjusting entries to reflect economic reality even when there is _______ involved in the transaction. Th
    8·1 answer
  • Carol Bates, a young, dynamic, and affluent banker, likes to shop online and try out new products. She likes to keep herself upd
    5·1 answer
  • Google Maps is a web mapping service that provides street maps and directions. A Google Maps component can be added to a busines
    13·1 answer
  • Suppose that in 1984 the total output in a single-good economy was 7,000 buckets of chicken. Also assume that in 1984 each bucke
    11·1 answer
  • You are caring for a client status post lung resection. When assessing your client you find that the bubbling in the water-seal
    12·1 answer
  • A company's direction, objectives, and strategy Group of answer choices are set in stone as the end of the planning process. nev
    13·1 answer
  • The following transactions occurred during the month of June 2021 for the Stridewell Corporation. The company owns and operates
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!