Percentage change in quantity demanded/percentage change in price is the basic formula for the price elasticity of demand coefficient.
<h3 /><h3>What is price elasticity?</h3>
Price elasticity is the degree of an individual that person or a consumer can pay to the change in the price of the commodity, it is calculated the price a consumer is willing to pay versus the amount of quantity supplied to the person.
Thus, Percentage change in quantity demanded/percentage change in price
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Answer: $11583
Explanation:
The amount that Harper Co. should report the equipment on its balance sheet dated December 31, year 8 will be calculated thus:
= Amount of annual instalment × PV of ordinary annuity of $1 at 5% for 10 periods
= (15000/10) × 7.72173
= 1500 × 7.72173
= 11582.595
= 11583
Therefore, the amount will be $11583
Answer:
Deprecation base=$26,300
Explanation:
Given Data:
Cost of machine=$28,000
Tax=$125
Fees=$200
Shipping charges=$500
Paid to contractor to build and wire a platform for the machine=$475
Salvage value=$3000
Useful life = 6 years
Required:
Depreciation base of Cominsky's new machine=?
Solution:
Deprecation base=Acquisition Cost-Salvage Value
Acquisition Cost:
It is the cost which involves the buying of asset and making the asset to work. In our case:
Acquisition Cost=Cost of machine+Tax+Fees+Shipping charges+Paid to contractor to build and wire a platform for the machine
Acquisition Cost=$28,000+$125+$200+$500+$475
Acquisition Cost=$29300
Deprecation base=Acquisition Cost-Salvage Value
Deprecation base=$29300-$3000
Deprecation base=$26,300
Answer:
D) Shift of the demand curve for Z to the left
Since both the equilibrium quantity and price decreased.
Explanation:
A rightward shift of the demand curve should increase both the equilibrium price and quantity.
A rightward shift of the supply curve should increase the equilibrium quantity and decrease the equilibrium price.
A leftward shift of the supply curve should increase the equilibrium price and decrease the equilibrium quantity.
C = 50 + 0.8Y is the consumption function that is consistent with the provided data. The MPC is determined by subtracting the change in consumption from the change in disposable income, which equals 160/200, or 0.8.
Marginal propensity calculation.
$200 billion less $0 billion equals $200 billion in changes to disposable income.
Consumption change equals $210 minus $50, or $160 billion.
MPC = Change in Consumption/Change in Disposable Income, which equals $160 billion/$200 billion and is equal to 0.8.
There is a 0.8 marginal tendency to consume.
Step 2
This is how consumption function is defined.
C = a + bY
Where,
a = Consumption at zero income level
b = MPC
In given case,
$50 billion would be consumed at a level of income zero.
MPC is 0.8
So,
C = 50 + 0.8Y is the consumption function that matches the provided data.
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