Answer: 0.2
Explanation:
Income elasticity of demand refers to the amount that the quantity demanded for a good changes by in response to a change in income.
The formula is therefore:
= Percentage change in quantity demanded of Peanut butter / Percentage change in income
= 2% / 10%
Income elasticity of demand = 0.2
Answer:
1.
Dr Purchases 30,070
Cr Accounts payable 30,070
2.
Dr Accounts payable 30,070
Cr Cash 30,070
3.
Dr Accounts payable 30,070
Dr Interest expense 930
Cr Cash 30,000
Explanation:
Meteor Co. Journal entry
1.
Dr Purchases 30,070
($31,000 x .97)
Cr Accounts payable 30,070
2.
Dr Accounts payable 30,070
Cr Cash 30,070
3.
Dr Accounts payable 30,070
Dr Interest expense 930
(31,000-30,070)
Cr Cash 30,000
Since the company purchased merchandise at a price of $31,000 in which it was been subject to credit terms of 3/10 that means 100%-3% credit term will give us 97% credit term ×$31,000 which enabled us to arrived at 30,070.
The kind of unemployment that is illustrated by the condition of Kyle will be a frictional unemployment.
<h3>What is unemployment?</h3>
Unemployment simply means a situation where someone who's able and ready to work doesn't get a suitable job.
In this case, since Kyle is temporarily unemployed because he has voluntarily quit his job with company A and will begin a better job next week with company B, he will be considered as fictionally unemployed.
Learn more about unemployment on:
brainly.com/question/305041
<span>janine studies to improve her math skills= adverb</span>
Answer:
3.75
Explanation:
we multiply 75 by 5%
5% can also be written as .05