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gtnhenbr [62]
3 years ago
5

An increase in price causes an increase in total revenue when demand is

Business
1 answer:
nadezda [96]3 years ago
7 0

Answer:

elasticity of demand will be inelastic

Explanation:

Here in the question it is provided in the statement that with an increase in price there is an increase in total revenue

Therefore,

change in price and change in revenue will be positive

Mathematically,

\frac{dR}{dP} > 0

Now,

When,

\frac{dR}{dP} > 0

then,

the elasticity of demand will be Ed will be < 1

which means the elasticity of demand will be inelastic

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In a free-market system, producers are most strongly driven by which of the
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Answer:

The correct answer is (B)

Explanation:

Producers are influenced by the benefits and profits they hope to pick up from the products or administrations in a free market economy. The idea of producers is to create goods and services and sell them at maximum profits because they feel consumer will buy their products because they need them. A profit motive is generally beneficial to the overall economy of the country. It is expected to give a motivating force to create productivity and development.

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3 years ago
What's the difference between a brand-name and a generic product? A. The company that sells the product B. The side effects of t
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Answer:

A

Explanation:

The quality should be about the same.

The social responsibility should also be about the same.

There shouldn't be side effects of most products. If you are speaking of medications, there really ought to be the same side effects with the same severity and the same statistical occurrences.

The only difference is the company selling the product.

There have been exceptions to this where different "fillers" were used in the generic brand and the side effects were different and more severe. I've only heard of one case however and I cannot remember what it was. Manufacturers were careful not to let it happen again.

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Five days after signing a contract to purchase a new timeshare in North Carolina, the buyer cancels the timeshare contract. Acco
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Answer:

Under north Carolina's laws, the developer must refund the buyer's money within a 30 day period since the purchase date. North Carolina law also sets a deadline of 5 calendar days to cancel a timeshare contract, so this buyer barely made it on time. A buyer cannot waive his right to cancellation, even if the option is not included in the contract.

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The ways you act, think, and feel describe your _____.
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3 years ago
On April 1, Garcia Publishing Company received $32,580 from Otisco, Inc. for 36-month subscriptions to several different magazin
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Answer: Debit Unearned Fees, $8,145; Credit Fees Earned, $8,145.

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The $32,580 are for 36 months so the amount per month would need to be calculated.

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= 905 * 9

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Correct entry would be to debit the Unearned fees account as it is a liability that needs to reduce to reflect that fees have now been recognized.

Credit the Fees Earned account to recognize revenue.

Debit Unearned Fees, $8,145; Credit Fees Earned, $8,145.

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