Using compound interest
5000 x 1.035^32 gives me 15033 which is triple the original value, therefore it’s 32 years
Answer:
Demand is more elastic in the long run than it is in the short run
Explanation:
Elasticity of demand measures the responsiveness of quantity demanded to changes in price.
Demand is more elastic in the long run than it is in the short run because in the long run consumers have more time to search for suitable substitutes.
When the absolute value of elasticity of demand is less than one, demand is inelastic.
When the absolute value of elasticity of demand is equal to one, demand is unitary.
When the absolute value of elasticity of demand is greater than one, demand is elastic.
Demand is less elastic the smaller the percentage of the consumer's budget the item takes up.
The elasticity of demand for a specific brand of good doesn't translate into the elasticity of demand for the good.
I hope my answer helps you
Answer:
I think it would false hope this helps
Answer:
$101,500
Explanation:
Net Sales $2,030,000
Allowance for uncollectible Accounts ($2,030,000*5%)=$101,500
The amount of uncollectible accounts to be reported in income statement shall be $101,500
