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Nina [5.8K]
3 years ago
9

In which of these instances is demand said to be perfectly inelastic?

Business
1 answer:
Murljashka [212]3 years ago
5 0

Answer:

b. A decrease in price of 2% causes an increase in quantity demanded of 0%.

Explanation:

By definition, the demand is said to be <em>perfectly inelastic</em> when no matter how much the price of a good changes, you will still be consuming the same exact amount as you did before the price changed.

Keeping this in mind, we know that the price may increase or decrease in 2%, but the demanded quantity will not have any change at all (people won't consume less or more).

So, now we know that the correct answer is <em>b, </em>because a decrease in price of 2% causes an increase in quantity demanded of 0% - in other words, people's purchase decision weren't influenced by the change in the price.

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Lee Ray bought 250 shares of a mutual fund with a NAV of $13.85. This fund also has a load charge of 7%.
kolezko [41]

Answer: a. $14.9

b. $3725

Explanation:

a. What is the offer price?

This will be calculated as:

= NAV / (1 - load charge %)

= 13.85 / (1 - 7%)

= 13.85 / (1 - 0.07)

= 13.85 / (0.93)

= $14.9

B. What did Lee pay for his investment?

This will be:

= Number of shares bought × Offer price

= 250 × $14.9

= $3725

3 0
2 years ago
The recording of transactions and events is called:.
Vaselesa [24]
Record-keeping.

Explanation:

The definition of record keeping is keeping records, or units of preserved information. This information can also be kept in books, which brings us to another term; bookkeeping.
8 0
1 year ago
A survey of 50 retail stores revealed that the average price of a microwave was $375, with a sample standard deviation of $20. A
g100num [7]

Answer:

(D) $369.31 to $380.69

Explanation:

The formula is x ± t (s/√n)

x = 375

t = 2.010

s = 20

n = 50

Then,

375 ± 2.010 (20/√50)

= 375 ± 5.69

8 0
3 years ago
A company switched from the cash basis to the accrual basis for recognizing warranty expense. The unrecorded liability for warra
Murrr4er [49]

Answer:

Report a prior period adjustment decreasing retained earnings by $1,365,000.

Explanation:

Going by the question we can derive that $2,100,000 is the prior period's warranty. Consequently, it will be charged to the current year's earnings following the deduction of tax, 35%.

(2,100,000 *65) /100 = $1,365,000

This above calculation is so because Under the accrual basis of accounting...operating expense are reported on the income statement in the particular period when they took place or when they expire

4 0
3 years ago
Read 2 more answers
Explain migration of population in economics.<br> pls its urgent
daser333 [38]

Answer:

Migration refers to the movement of a group of people from one geographical region (location) to another geographical destination in search of better living conditions, work or social amenities.

Explanation:

Migration refers to the movement of a group of people from one geographical region (location) to another geographical destination in search of better living conditions, work or social amenities.

Migration selectivity can be defined as the likelihood or tendency that a subset (part) of a group of people are going to move (migrate) out of a particular geographical location or area.

Some of the factors that influence migration selectivity are income level, age, education, gender etc.

One way migration affects various locations across the world such as Texas, Brazil, Paris, Rome, Stuttgart, Kyiv, etc., includes the establishment of different restaurants. For example, the establishment of KFC, McDonalds, Mr Biggs were influenced by the migration of people across European cities and as such served as tourist attraction centers, thus, positively affecting the character of these places.

6 0
3 years ago
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