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3 years ago

You observe the price of a good rises and the quantity sold decreases. This is the result of

Business

1 answer:

kondor19780726 [428]3 years ago

6 0

Answer:

This is the result of law of demand and elasticity of demand

Explanation:

The law of demand states that, other things remaining equal, the higher the price of a commodity, the lower the quantity demand of that commodity. Also, the observed goods in the question is a normal good because all normal goods obey the law of demand.

In addition, the price elasticity of demand is ELASTIC. This means the good is sensitive to price. A 1% increase in price will lead to a significant decrease in quantity demanded.

Also the income elasticity of demand is negative, meaning an increase income means the quantity demanded will decrease. This usually happens for inferior goods.

All these three points can cause it

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Arrange six departments into a 2 x 3 grid so that these conditions are satisfied: 1 close to 2, 5 close to 2 and 6, 2 close to 5

drek231 [11]

Answer:

1?3

256

Explanation:

If one is close to 2, then but so is five, and 6 is near five then they all have to be on there own row. Seeing as 3 is close not close to 1, or 2, it has to be the furthest away from them as it can be, and the questionmark is there because you only have five numbers, (1,2,3,5,6) so there isn't enough info for the question mark to have an answer.

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3 years ago

Oakpark, Inc.’s $180,000 Accounts Receivable balance at December 31 consisted of $160,000 current balances and $20,000 past-due

Tresset [83]

Answer:

B) Bad Debts Expense 4600 Allowance for Doubtful Accounts 4600

Explanation:

Before passing the adjusting entry, we have to do the calculations which are shown below

The computation of the credit loss is shown below:

= Estimated amount - Estimated uncollectible account - Account receivable ending balance

where,

Estimated amount = Account receivable ending balance × given percentage

= $160,000 × 2%

= $3,200

And, the estimated uncollectible amount = Past due balance × estimated percentage

= $20,000 × 15%

= $3,000

The other item values remain the same

Now put the values to the above formula

So, the value would be equal to

= $3,200 + $3,000 - $1,600

= $4,600

Now the journal entry would be

Bad debt expense A/c Dr $4,600

To Allowance for Doubtful Accounts $4,600

(Being credit losses are recorded)

8 0

3 years ago

If consumer wealth decreases as the stock market plunges, then (3 points) there is a movement down the AD curve as price level d

tekilochka [14]

Answer:

AD shifts left and price level would decrease.

Explanation:

If consumer wealth decreases due to a plunge in the stock market, the AD curve will shift to the left. This is because shifts to the left of the AD curve represent a reduction in demand, and if consumers are poorer, they will naturally decrease their demand.

This will in turn reduce the price level, because in a market system, prices will fall until they meet the new, lower demand, meaning that a new equilibrium price is reached.

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3 years ago

The market for kiwis is in equilibrium at a price of $1.50 per pound. if the government imposes a price ceiling in the market at

Pepsi [2]

Hi .10 i guess the answer

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3 years ago

The Red Baron saw Snoopy sitting on his dog house, writing his greatest novel. Snoopy was so involved with his story writing tha

Oduvanchick [21]

Answer:

The correct answer is letter "D": intentional infliction of emotional distress.

Explanation:

Intentional infliction of emotional distress or IIED is a common law applied when an individual causes emotional distress to another person intentionally by behaving inappropriately. Intentional infliction of emotional distress is usually accompanied by physical injuries.

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3 years ago