Answer:
The budgeted accounts receivable balance at the end of February is closest to: $4,500.
Explanation:
Prepare a Accounts Receivable Budget for January and February
January February
Balance b/d $0 $4,200
Credit Sales $7,000 $7,500
Cash Received (40%) ($2,800) ($3,000)
Cash Received (60%) $0 ($4,200)
Balance c/d $4,200 $4,500
Conclusion:
Therefore, the budgeted accounts receivable balance at the end of February is closest to: $4,500
The answer is D because the monopoly is the hardest to get into.
Answer:
Total Revenue of Cocaine will increase.
Explanation:
Elasticity of demand is demand responsiveness to price change.
Price & Total Revenue have relationships as per Elasticity of Demand :
- Elastic Demand >1 : Change in quantity demanded > change in price ; Price & Total Revenue negatively related.
- Inelastic Demand < 1 : Change in quantity demanded < price change ; Price & Total Revenue positively related
Given : Demand for crack cocaine is inelastic. If government increases penalties on cocaine supply, number of dealers decrease.
Then , the supply of cocaine will fall. Supply Shortage will increase the price. However - because demand is inelastic , total revenue will increase as a result of price rise.
