Answer: False
Explanation:
The price elasticity of supply measures the change in quantity supplied when the price changes.
The basic trend is that when price increases, quantity supplied increases as well. The reverse is true.
Price elasticity of supply = %Change in quantity supplied / % change in price
0.5 = -6% / Change in price
0.5 * Change in price = -6%
Change in price = -6% / 0.5
= -12%
The statement above is therefore false because price should have reduced by 12% for quantity supplied to reduce by 6%
Number 1 = decrease
number 2= have an ambiguous change
<span>When it comes to saving money, what is a good rule of thumb?
</span>B.Put aside money for savings each month
Good luck! :)
Hello! the answer to your question is D. Net income is the accounting profit from the operations of the company during the period.
Answer:
C. 1.40x
Explanation:
1. Production:
November through February: x rakes/month* 4 months = 4x rakes.
2. Shipping and storage costs
March= 4x (initial stock) - x/2 (shipped) = 3.5 x (in stock) * 0.1$ = $0.35
April = 3.5x (stock at end of March) - x/2 (shipped) = 3x*0.1$ = $0.30
May = 3x (stock at the end of April) - x/2 (shipped) = 2.5x*0.1$ = $0.25
June= 2.5x (stock at the end of May) - x/2 (shipped) = 2x (in stock) * $0.1 = 0.2$
July = 2x (stock at end of June) - x/2 (shipped) = 1.5x*0.1$ = $0.15
August = 1.5x (stock at the end of July) - x/2 (shipped) = 1x*0.1$ = $0.1
Sept= 1x (stock at the end of August.) - x/2 (shipped) = 0.5 x (in stock) * $0.1 = $0.05
October = 0.5x (stock at end of sept.) - x/2 (shipped) = 0*$0.1 = $0
Total storage cost= $0.35x+$0.30x+$0.25x+$0.20x+$0.15x+$0.10x+$0.05x+$0x
Total storage cost = $1.40X