The profit margin is 35 percent when the net sales were $17,500 and the net income was $6,125.
The profit margin is calculated by dividing net income by net sales.
Therefore, Profit margin =
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Answer:
The mayor thinks demand is inelastic, and the city manager thinks demand is elastic.
Explanation:
- Inelastic demand is when there is no noticeable change in product demand as the price of the product changes drastically. This type of environment is seen when there are no good substitute for the product.
- Elastic demand is when a slight change in product price changes the market demand for the product. This occurs when there are substitutes.
- Here, the mayor thinks there is inelastic demand and the city manager thinks the demand is elastic.
Pretty sure it's false because there is some competition between electric and gas companies.
Answer:
Joint Tenancy
Explanation:
Joint tenancy represents a legal contractual arrangement that involves two or more people who have agreed to own a single property sharing both obligations and rights equally.
The terms of join tenancy is such that no one whether the partner or an inheritor of will is able to sell the property in future without the consent of other partners. Secondly, when a partner dies joint tenancy does not transfer assets to heirs instead it is vested in the surviving partner.
It becomes that Bill did not name his wife as his beneficiary, hence Mike inherits the entire 342 acres of land after Bill's death.
Answer:
current market price of the bond is $667
Explanation:
the formula to calculate yield to maturity (YTM) is:
YTM = [C + (F - P)/n] / [(F + P)/2]
-
F = face value
- P = market price
- n = number of years x 2 =
- C = coupon
we just start replacing and solve for P:
- YTM = 8%
- C = 50
- F = 1,000
- n = 20
8% = [50 + (1,000 - P)/20] / [(1,000 + P)/2]
8% x (1,000 + P)/2 = 50 + (1,000 - P)/20
8% x (500 + 0.5P) = 50 + 50 - 0.05P
40 + 0.04P = 100 - 0.05P
0.04P + 0.05P = 100 - 40 = 60
0.09P = 60
P = 60 / 0.09 = 667