Steven's income elasticity is 0.83
<h3>How to calculate the income elasticity ?</h3>
Income elasticity can be described as the change in the quantity demanded by the change in the income
Steven's income decreased from $1800 to $1200
His trips also decreased from 15 to 10
The Income elasticity can be calculated as follows
= 15 -10/(1800-1200) × 100
= 5/600 × 100
= 0.00833 × 100
= 0.83
Hence the income elasticity is 0.83
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Answer
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Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
Answer:
e. $3,000 short-term capital loss (STCL)
Explanation:
From the given information;
Tim may deduct only $3,000 short-term capital loss (STCL) because the loan is not business-related. SO, he can claim a maximum of $3000 in the current year and the remaining can be forwarded to ordinary income on the individual return in any one tax year.
Answer:
Processes
Explanation:
The process is a general term that is used in all fields of human endeavor including business operations to defined a form of set instructions or connected actions that seeks to derive or eventually get a mutual goal at the end. In the business world, it is called Business Process.
Hence, Collections of related activities intended to achieve a common purpose are called PROCESSES
