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Korvikt [17]
2 years ago
5

Gus buys cupcakes every saturday morning. when he walks into the bakery, he always orders by saying, "give me $10 worth of cupca

kes." what does this tell you about gus's elasticity of demand for cupcakes?
Business
1 answer:
Nadya [2.5K]2 years ago
6 0

Elasticity of demand measures the responsiveness of quantity demanded to a change in the price of the good.

a. Perfectly elastic - The good is perfectly elastic when the consumer is ready to buy any quantity at a fixed price.

b. Perfectly inelastic- The good is perfectly inelastic when the change in the price of the good has not effect on its demand, that is when quantity demanded is same at whatever price.

So, because here Gus is ready to buy any units of cupcakes at a fixed price of $10, the demand for cupcakes should be perfectly elastic.

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Answer:

C. password

Explanation:

A transaction is a business activity that involves buyers and sellers. the se two parties agree to exchange goods and services for money. Everyone needs to be on the same page when this happens ; meaning, the sellers should be willing to give out their goods and services and the buyers should be willing to to pay for the what they are interested in. A complete transaction also requires a receipt which is a proof of the exchange . Therefore, having a password is not the only requirement for a transaction.

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3 years ago
A(n) ______ is maintained for each financial statement item, whereas a(n) ______ contains all of the accounts of the company.
Svetllana [295]

Answer:

An <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.

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Financial statements refers to a statement that that provides formal records of all financial activities and standing of a company or any entity in a structured and easily understandable manner.

For each item of financial statement, an account is kept with the aim of giving a an accurate record of all business activities that are germane to that specific financial statement item.

The purpose of a general ledger is to show individual transactions and resulting account balance of each account of a company as a single collection.

Therefore, an <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.

4 0
2 years ago
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3 years ago
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tia_tia [17]

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Direct labor rate variance= $1,666 favorable

Explanation:

Giving the following information:

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