Answer:
The correct answer is True.
Explanation:
The demand for a product in the market produces a demand derived from the raw materials necessary for its production. For example, when the demand for cars rises, the demand derived from auto parts also increases; and increasing the production of auto parts increases the demand derived from steel.
Total No of Units=12600+23400
=36000 units
Ski=12600/36000=35%
Snorkel=23400/36000=65%
Answer:
C. Both (i) and (ii) are true
Explanation:
Under perfect price discrimination, consumer surplus doesn't exist since the supplier is selling the good or service at the maximum price that each consumer is willing to pay. This situation maximizes supplier surplus.
Under perfect competition, both supplier and consumer surplus exist.
Since total social surplus = supplier surplus + consumer surplus, total surplus should be the same in both situations.
Given:
280,000 for the land
110,000 for the old bldg
33,500 to tear down old bldg
47,000 to fill and level the land
1,452,000 new bldg
87,800 for lighting and paving a parking area for the new bldg.
Entries: Debit Credit
Land 470,500
Cash 470,500
(280,000 + 110,000 + 33,500 + 47,000 = 470,500)
Building 1,452,000
Cash 1,452,000
Land Improvement 87,800
Cash 87,800
Expenses incurred in preparing the land for its purpose is classified under the land account. Land does not depreciate because its useful life is unidentified.
Land improvement account is used for expenses incurred to add functionality to the land and these output has useful life and is depreciated.
This relationship described between the price and the quantity demanded is known as the <u>Price Elasticity of Demand (PED). </u>
<h3>What is the Price Elasticity of Demand?</h3>
- It is a measure that shows the relationship between the price of a good and the quantity demanded of it.
- Shows how sensitive quantity demanded is to a change in price.
When the PED is less than 1, it means that a change in price doesn't affect the quantity demanded as much. When it is more than 1, a change in price will lead to an even higher change in quantity demanded.
In conclusion, this is the Price Elasticity of Demand.
Find out more on PED at brainly.com/question/9235198.
