Answer and Explanation:
The formula to compute the price elasticity of demand is as follows:
= Percentage change in quantity demanded ÷ percentage change in price
At Price P0, the Quantity demanded is Q0
And,
At Price P1, the Quantity Demanded is Q1
Just like this, it could be computed
divided by 
Sellers Market
(when demand exceeds supply, more buyers than homes available, leads to multiple buyers interested in a single property, this results in bidding wars driving the price up)
Answer:
A novel printed in paperback that sells for more than the same book in an electronic format
The example contains two different products, one is novel in paper form, and other in electronic form of the novel. Price discrimination occurs when we charge different prices for the same product from different customers. They are completely two different forms of the product which means the product is not identical in term of its form.
Explanation:
Above mentioned example is definitely does not fall under price discrimination.
<em>Price Discrimination</em>: is offering different prices to different customers for the same good. All of the other examples may falls under price discrimination because they contain same product but for different customers namely, discount at movie theater, soup companies sending coupons, and for the same drug they are charging different prices accordingly.
Answer:
The activity variance for cleaning equipment and supplies in April would be closest to = -$225
Explanation:
Cost formula for cleaning equipment and supplies = $2,540 + $45 per boat
Since the actual level of activity is 11 boats the budgeted costs for 11 boats will be $2,540 + $45*11 = $3,035
Actual costs for the 11 boats = $3,260
Activity variance = Budgeted - Actual activity cost = $3,035 - $3,260
= -$225
Since the actual cost of activity is more than budgeted cost of activity, the activity variance is unfavorable and closest to -$225.
Answer:
Total FV= $1,220,441.33
Explanation:
<u>First, we need to calculate the value of the $200 for 20 years. To calculate the future value, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
A= 200
n= 20*12= 240
Intertest rate= 0.07/12= 0.005833
FV= {200*[(1.005833^240) - 1]} / 0.005833
FV= $104,180.27
<u>Now, the value of the $300 for 30 years. At the same time, the future amount of the first investment. Each one with its separate formula. </u>
$300 monthly investment:
n= 300*12= 360
FV= {300*[(1.005833^360) - 1]} / 0.005833
FV= $365,962.41
$104,180.27 investment:
FV= PV*(1+i)^n
FV= 104,180.27*(1.005833^360)
FV= $854,478,92
<u>Finally, the total FV:</u>
Total FV= 854,478.92 + 365,962.41
Total FV= $1,220,441.33
