A process Of maximizing benefits Or minimizing costs.
Oscars opportunity cost for buying the business is 50,000
Because the demand between points A and B is inelastic, a $25-per-bike increase in price will lead to an increase, in total revenue per day.
in order for a price decrease to cause a decrease in total revenue, demand must be inelastic.
<h3>What is the price elasticity of demand? </h3>
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
When the coefficient of elasticity is less than one, it means that demand is inelastic. When demand is inelastic, it means that the quantity demanded is not sensitive to changes in price.
Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price
Midpoint change in quantity demanded = change in quantity demanded / average of both demands
- change in quantity demanded = 40 - 35 = 5
- Average of both demands = (40 + 35) / 2 = 37.50
- Midpoint change in quantity demanded = 5 / 37.50 = 0.133
Midpoint change in price = change in price / average of both price
- Change in price = 100 - 125 = -25
- Average of both prices = (100 + 125) / 2 = 112.50
- Midpoint change in price = -25 / 112,50 = -0,222
Midpoint elasticity of demand = 0.133 / -0,222 = 0.6
To learn more about price elasticity of demand, please check: brainly.com/question/18850846
Answer:
b. Property tax revenue for an amount deferred because it was not available
Explanation:
Government statement of activities shows the various expenses and revenue that the government has within a given period. It is usually on accrual basis.
While statement of revenues, expenditure and change in fund shows revenue and expense items that have been incurred by the government. This is not based on accrual but actual revenue earned and expense incurred.
So property tax revenue for an amount deferred because it was not available. Will appear on government statement of activities but will not appear in statement of revenue, expense, and change of funds because no present revenue or expense is involved.
Answer:
According to the Washington post article, prices of healthcare cost, utilities and housing has increased faster than social security benefits.
According to it, social security grew 43% between 2005 and 2015. But, monthly housing cost rose by 44% while renting cost increased 56%. Further, price of heating oil increased 159% and price of electricity by 63%. Lastly, cost of landline phone service increased by 52%.
So the answer is electricity, heating oil, and rent.
