Answer:
A) quantity demanded decreases.
Explanation:
The law of demand states that as the price of a good or service increases, the quantity demanded (not the demand) of the good or service will decrease. This happens because less consumers are willing to purchase the goods or services and since the supply doesn't change, overstocking will result, which will decrease the equilibrium price.
*The demand of a good or service is shown by the demand curve, but the points in the curve represent the quantity demanded.
Explanation:
In this case, I would have stick to my commitment which I made first.
No doubt the invitation of the second party was just like a dream come true, as that was being held by a popular group and all of my friends were going there, but ethically and morally I am supposed to stick to my commitment which i have made before this invitation. So my decision will be on moral and ethical grounds. I would attend the sleepover birthday party and would hope that the other party of popular group happens again.
Answer:
1. d. Both a and c.
2. True.
Explanation:
Marsha and Shelby both are U.S. citizen. Marsha can claim Income credit once she is 25 years older up to 65 years of age. The individual below 25 years of age cannot claim income credit according to the tax law prevailing in U.S.
Answer:
Journal entry to record Smith's payment
- Dr Cash account 500
- Cr Accounts Receivable account 500
Explanation:
The following journal entry was made when the account was written off:
- Dr Bad Debt Expense account 500
- Cr Accounts Receivable account 500
When the write off was reversed the following journal entry was made:
- Dr Accounts Receivable account 500
- Cr Bad Debt Expense account 500
Assessing how customers in the target market evaluate price is the <u><em>second </em></u>stage in the pricing process.
A company's pricing process is the amount it asks for its goods or services. As a result, the profitability of a business is directly related to the pricing decisions it makes. A product's pricing is determined by several variables, including its cost to produce, the intensity of competition, the state of the market, and the level of quality it offers. When determining the prices of its goods and services, a company should keep in mind the requirement to recover both the direct and indirect expenses associated with production and a reasonable profit. If the selling price of a product is below the company's operating expenses, the company will go bankrupt.
When setting prices for its wares, a company employs a variety of strategies and procedures. An efficient pricing strategy is one that maximises the surplus between the producer and the customer. A company's pricing plan should be practical, adaptable, and profitable.
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