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3 years ago

If supply is inelastic, then a demand shift will have a effect on ___ than on quantity.

Business

1 answer:

lord [1]3 years ago

6 0

Answer:

Supply Inelastic: Demand shift will have more effect on price than on quantity

Explanation:

Demand and supply reflect buyers & sellers - buying & selling tendencies.

Demand curve & supply curve are downward sloping & upward sloping respectively (∵law of demand , law of supply) & EQUILIBRIUM is where Demand = Supply & Demand, Supply curves intersect.

Elasticity is demand / supply responsiveness to price change. Inelastic Supply doesn't respond to price. It has a vertical curve parallel to y axis (unlike usual upward sloping curve).

Demand change shifts downward sloping demand curve - 1. Rightwards if Increase in Demand, 2. Leftwards if Decrease in Demand. 1st case (↑Dd) with inelastic supply leads to increase in price & no change in quantity, at new equilibrium. 2nd case (↓Dd) with inelastic supply leads to decrease in price & no change in quantity, at new equilibrium.

So, Change in Demand with Inelastic Supply changes only Equilibrium Price & not Equilibrium Quantity.

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In 2022 the Splish Brothers Inc. had net credit sales of $1020000. On January 1, 2022, the Allowance for Doubtful Accounts had a

zaharov [31]

Answer:

$35,300 (Credit)

Explanation:

Given that;

Allowance = 10% × $242,000 = $24,200

Amount written off of $34,200 would have made the balance in the allowance for doubtful debts

= $34,200 - $23,100

= $11,100 (Debit)

However, the balance in the account at the end of the year should amount to $24,200 hence the adjustment required

= $24,200 + $11,100

=$35,300 (Credit)

5 0

2 years ago

Information technology has been used to improve both internaland external access and sharing of information. Three main kinds of

Mashcka [7]

Answer:

1. Executive Information System (EIS).

2. Corporate Portal.

3. Intranet.

Explanation:

Information technology (IT) can be defined as a set of components or computer systems, which is used to collect, store, and process data, as well as dissemination of information, knowledge, and distribution of digital products.

An information technology (IT) interacts with its environment by receiving data in its raw forms and information in a usable format.

Information technology (IT) has significantly helped to improve both internal and external access and sharing of information between two or more business firms and individuals. Basically, there are three (3) main kinds of information technology (IT) which allow informations to be accessed and shared internally among employees; executive information systems (EIS), intranets, and portals.

1. Executive Information System (EIS): it assist managers working in an organization to monitor and analyze organizational performance. An Executive information system is also referred to as an Executive support system and it can be defined as a management support system that enhances and supports all of the senior executive information and decision-making process.

2. Corporate Portal: it's a hybrid system that uses a web address (uniform resource locator-URL) to give employees access to customized information and specialized transactions with respect to an organization.

3. Intranet: it's an internal company network which is private and provides employees with easy access to information.

8 0

2 years ago

Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis.

kkurt [141]

Answer:

Net Zero Products

a) The balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method is $4,300.

b) Adjusting Entry to record bad debt expense:

Debit Bad Debt Expense $1,700

Credit Allowance for Doubtful Accounts $1,700

To record the bad debt expense for the period and bring the allowance to $4,300 credit balance.

Explanation:

a) Data and Calculations:

Aging of receivables analysis:

Total (days) 0 1 to 30 31 to 60 61 to 90 above 90

Accounts receivable $171,000 $96,000 $34,000 $15,000 $12,000

Percent uncollectible 1% 4% 6% 9%

Allowance for doubtful 0 $960 $1,360 $900 $1,080

Total allowance for doubtful = $4,300 (960 + 1,360 + 900 + 1,080)

b) The adjustment in the Allowance for Doubtful Accounts needed for the current period is $1,700 ($4,300 - $2,600). This amount will be debited to the Bad Debts Expense account and credited to the Allowance for Doubtful Accounts. It will bring the total for the Allowance for Doubtful Accounts to $4,300 from $2,600.

3 0

3 years ago

Which information security objective allows trusted entities to endorse information?

Serjik [45]

Certification information is the security objective that allows trusted entities to endorse information.

Certification information is what credits people to be certified in teaching information to other employees and allowing the information to be accredited. To make sure the information is given out properly and is trusted, accurate information we need to make sure its certified and verified.

6 0

3 years ago

(Last Word) According to Yale University's Environmental Performance Index (EPI), A) growth in GDP per person initially improves

tatiyna

Answer:

B) countries with higher GDP per person tend to have healthier environments.

Explanation:

According to the 2020 Environmental Performance Index (EPI) elaborated by Yale and Columbia universities, a strong positive correlation exists between high GDP per capita and healthier environments. There are a few exceptions to this correlation, in Asian (especially Arab) countries where GDP per capita might be high, but the vast majority of income is received by a vary small number of people. But in the rest of the world, a high GDP per capita generally results in healthier environments.

7 0

3 years ago

If supply is inelastic, then a demand shift will have a ____ effect on _______ than on quantity.

If supply is inelastic, then a demand shift will have a effect on ___ than on quantity.