1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vadim26 [7]
2 years ago
12

Suppose the price of apples goes up from $20 to $22 a box. In direct response, Goldsboro Farms supplies 1,200 boxes of apples in

stead of 1,000 boxes. Compute the coefficient of price elasticity for Goldsboro’s supply. Es = Is its supply elastic, or is it inelastic? Supply is:_______.
A. Elastic
B. inelastic.
Business
1 answer:
OLga [1]2 years ago
8 0

Answer:

A

Explanation:

Price elasticity measures the responsiveness of the quantity demanded or supplied of a good to a change in its price. It is computed as the percentage change in quantity demanded—or supplied—divided by the percentage change in price.

Elasticity can be described as elastic—or very responsive—unit elastic, or inelastic—not very responsive.

Elastic demand or supply curves indicate that the quantity demanded or supplied responds to price changes in a greater than proportional manner.

An inelastic demand or supply curve is one where a given percentage change in price will cause a smaller percentage change in quantity demanded or supplied.

Unitary elasticity means that a given percentage change in price leads to an equal percentage change in quantity demanded or supplied.

You might be interested in
Item9 5 points eBook ReferencesItem 9Item 9 5 points Item Skipped Determine whether each of the following statements is positive
lubasha [3.4K]

Answer:

Positive statement is defined as the statement which are fact based and tells us the reality and these statements can be tested, amended or rejected on behalf of the evidence.

Normative statement is defined as the statements which includes suggestions or opinions that can be tested by observing the evidence. These are the subjective statements.

(a) Positive statement

(b) Normative Statement

(c) Normative Statement

(d)  Positive statement

(e)  Positive statement

(f) Normative statement

5 0
3 years ago
Exercise 2-10 Applying Overhead Cost to a Job [LO2-2] Sigma Corporation applies overhead cost to jobs on the basis of direct lab
OlgaM077 [116]

Answer:

See explanations below.

Explanation:

1. Yes. Overhead should be applied to job W at year-end. Overhead is applied to every jobs whether or not they are completed at year end.

b. To calculate the amount of overhead to be applied to job W, we need to calculate first the overhead application rate based on direct labor cost through job V.

Direct labor cost. $8,000

Overhead applied $6,000

Overhead rate = [ Overhead applied / Direct labor cost ] × 100

= [6,000/8,000] × 100

= 75%

Overhead to be applied to job W

Direct labor cost $4,000

Overhead rate 75%

Overhead to be applied = $3,000

It therefore means that $3,000 should be applied to job W.

2. Because job W was not completed at the year end, it would then be included in the work in process inventory in the financial statements of Sigma Corporation at year end.

6 0
3 years ago
The following information pertains to Sheridan Company.
DanielleElmas [232]

Answer:

Adjusted Cash Balance at 31 August 2022 = 9654

Explanation:

Bank Reconciliation Statement at August 31, 2022

Cash Balance as per Bank  August 31,                                         $7338

Add: Deposit in Transit                                                                  $3010

<u>Deduct: Outstanding Checks                                                        ($694 )</u>

<u>Adjusted Cash Balance                                                                  $9,654</u>

<u />

Cash Balance as per books, August 31,                                        $7374

Add: Receivable collected by bank                                               $2326

<u>Less:Bank Service Charges                                                           ($46)     </u>

<u>Adjusted Cash Balance                                                                  $9,654 </u>

<u />

5 0
3 years ago
Suppose Mary is in consumer equilibrium. The marginal utility of good A is 30, and the price of good A is $2.. . a. if the price
zimovet [89]
 Using formula: Marginal Utility=Change in Total Utility/Change in Quantity
<span>So, the marginal utility of each good will be 30/$2, or 15/$1.
Multiply this marginal utility by the price of each good/service to obtain the marginal utility per unit of good.</span>
<span>Since marginal utility of good A is given then by using this formula the the marginal utility of good B is 60 , MU of good C is 45 and MU of good D is 15</span>

7 0
3 years ago
A document that authorizes a supplier to deliver a product or service is known as.
Alecsey [184]

Answer:

purchase order

Explanation:

a document that authorizes a supplier to deliver a product or service is known as a purchase order is the purchased cost of goods from outside suppliers cost of goods sold is used when requirements are well understood and there is common agreement between supply chain partners about what certain terms mean

6 0
2 years ago
Read 2 more answers
Other questions:
  • Joe reconciles his checking account check register to the penny every month with the bank’s statement. After accurately recordin
    15·1 answer
  • (Prepared from a situation suggested by Professor John W. Hardy.) Lone Star Meat Packers is a major processor of beef and other
    7·1 answer
  • Under the Precedence Diagramming Method, the situation which occurs when two activities can start at different times, have diffe
    10·2 answers
  • A nation reaches its steady state equilibrium when
    12·1 answer
  • The​ real-income effect of a price change is most significant when
    15·1 answer
  • 6090 - 4 in standard form
    13·2 answers
  • _____ is work done to keep equipment in good working order. Defragmentation Preventive maintenance Virus protection A maintenanc
    11·1 answer
  • 6 what is electrical Filling ?​
    11·1 answer
  • Dave is a close-up magician who is famous for his card tricks. He creates and sells DVDs of his magic tricks. Lately he has been
    5·1 answer
  • According to Ken Guest's research on Chinese restaurants in the United States, the network of services, businesses, and smuggler
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!