Answer:
The correct answer is option A.
Explanation:
Price elasticity of demand measures the change in the quantity demanded due to a change in the price of the commodity. In order to increase the demand for pizza, Aiyanna decides to lower the price of pizza by 5% per week.
With passage to time, the demand for a commodity becomes more and more elastic. This is because, with time, the consumers are able to get adjusted to price change. So each successive week demand will become more price elastic.
The largest amount of money the government lays out is for the transfer program, Social Security. And its largest expenditure is for national defense. America is quite known for spending a lot of money on defending itself from any possible threat.
Answer:
The answer is true.
Explanation:
The sellers in the perfectly competitive market become price takers as they have to sell under the price decided in the market through supply and demand.
This is mainly because there is no way to differentiate the product to change the price. Since all goods are identical, one good is a perfect substitute for another.
Answer:
A. Conflict resolution abilities
Explanation:
Conflict resolution ability is the capacity of a person or group of persons to effectively handle and manage the conflicts of interest or disagreement between two or more persons or two or more groups.
There are several skills used by people who have conflict resolution abilities such as COMMUNICATION, COMPROMISE, COLLABORATION, ACCOMMODATION ETC.
Answer:
LIFO
Explanation:
It will be the one that give higher Cost of goods sold. We also know that:
Cost of goods sold = Opening Inventory + Inventory Purchases - Closing Inventory
So this means the lower the closing inventory the higher the cost of goods sold and in time of price increases it will be more appropriate to use LIFO method which will reduce the Closing Inventory and this will increase the cost of goods sold and thus decrease in profit. This reduced profit means that the tax expense will also be lower in value.
Similarly the second attractive option will be the Weighted Average and the least attractive option would be FIFO costing method.
