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3 years ago

If the price of a good increases by 5% and the quantity demanded decreases by 5%, then at that price, the good is _____.

Business

1 answer:

anastassius [24]3 years ago

7 0

Answer: unitary price elastic

Explanation:

A good is unitary price elastic if a change in price leads to the same proportional change in quantity demanded.

The coefficient of a good with unitary elasticity is 1 .

Coefficient of elasticity = percentage change in quantity demanded / percentage change in price

= 5% / 5% = 1

I hope my answer helps you

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The answer to this question is TRUE

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A production manager is evaluated based on the quantity of direct materials used in production. If the production line actually

Shalnov [3]

Answer:

1) True

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Explanation:

1) The manager's evaluation should be based on a flexible budget, so the statement is true.

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Cullen and MacNeil's is a printing press. It currently faces a threat from the electronic media. The company primarily views its

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Answer:

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3 years ago

Glaston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of u

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Answer:

$ 317,000

Explanation:

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Fixed Overhead: $ 157,000

Factory Overhead Budget for October:

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3 years ago

A company has budgeted direct materials purchases of $300,000 in July and $480,000 in August. Past experience indicates that the

enyata [817]

Answer: $696,000

Explanation:

Given the following;

JULY direct material purchase = $300,000

AUGUST BUDGET

direct material purchase =$480,000

Selling and administrative expenses = $48,000

Depreciation expense = $36,000

Purchase of office equipment = $72,000

Wages expenses = $150,000

Only 70% of the amount of purchases made in a month being paid that month. The remaining 30% paid the next month

Therefore, total Budgeted cash disbursement for the month of August will include ;

30% of July purchase

0.3 × $300,000 = $90,000

70% of August direct material

0.7 × $480,000 = $336,000

Wage expense = $150,000

Office equipment purchase =$72, 000

Selling and administration expenses = $48,000

= $(90,000 + 336,000+ 150,000+72,000+ 48,000) = $696,000.

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3 years ago