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natulia [17]
3 years ago
12

Consider firms that introduce new​ products, such as DVDs in 2001. When firms introduce new​ products, how do they typically det

ermine the price elasticity of demand for those​ products? Firms with new products often A. identify price elasticity of demand by using price controls to set price floorsfloors. B. approximate price elasticity of demand with market signals such as shortagesshortages. C. identify price elasticity of demand by asking for government assistance. D. estimate price elasticity of demand by experimenting with different prices. E. guess price elasticity of demand based on market competition.
Business
1 answer:
Svetach [21]3 years ago
4 0

Answer:

D. estimate price elasticity of demand by experimenting with different prices

Explanation:

Price elasticity of demand measures the degree of responsiveness of quantity demanded to changes in price.

Demand is elastic if a small change in price has a greater effect on the quantity demanded.

Demand is inelastic if a change in price has little or no effect on quantity demanded.

Demand is unit elastic if a change in price has the same proportional change on quantity demanded.

By experimenting with different prices and monitoring the different quantities demanded at each price, a new firm can determine the elasticity of demand for their product.

Price controls are set at the discretion of the government and not by firms.

Shortages imply they quantity demanded exceeds quantity supplied. It doesn't give any information on elasticity of demand.

I hope my answer helps you

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Recording sales, returns, and discounts taken LO P2 Prepare journal entries to record each of the following sales transactions o
OLEGan [10]

Answer:

Apr. 1

J1

Trade Receivable $6,600 (debit)

Sales Revenue $6,600 (credit)

J2

Cost of Sales $3,960 (debit)

Merchandise $3,960 (credit)

Apr. 4

J1

Sales Revenue $740 (debit)

Trade Receivable $740 (credit)

J2

Merchandise $444 (debit)

Cost of Sales $444 (credit)

Apr. 8

J1

Trade Receivable $2,800 (debit)

Sales Revenue $2,800 (credit)

J2

Cost of Sales $1,960 (debit)

Merchandise $1,960 (credit)

Apr. 11

Cash $5,860 (debit)

Trade Receivable (credit)

Explanation:

Perpetual method of inventory keeps a record of cost of inventory after every sale.

Thus, for every sale transaction remember to recognize the Sales Revenue and the Cost of Sales that follow the sale.

For any returns, De-recognize the Sales Revenue - to the extend of the <em>credit granted</em> and also de-recognize the Cost of Sales to the extend of the <em>value of Inventory returned</em>.

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4 years ago
If you wanted to measure a 90-degree bend on a sheet-metal bracket, what instrument would you use?
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3 years ago
Choose the letter of the item that best completes the statement or answers the question. Last year Jackson earned $500,000, Vele
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1. According to their states’ tax laws, which require each one to pay a tax of $500 despite their different earnings, the best description of the tax is <u>(c) regressive</u>.

<h3>What is a regressive tax system?</h3>

A regressive tax system is one where taxpayers pay a disproportionate share of the tax burden, given their earning levels.

A regressive tax system is not proportional or progressive.

2. An example of an excise tax is (b) tax on perfume.

3. The amount Rose Chin paid for the purchase of school supplies based on the state sales tax of 5% is <u>a) $12.60</u> ($12 x 1.05).

4. An example of a property tax is a) a tax based on the value of one's home.

5. The best example of the ability-to-pay principle is <u>b) income tax</u>.

6. An example of a tax based on the benefits-received principle is (a) bridge toll.

7. In the United States, taxes are used to accomplish all of the following except (c) determine which brands consumers buy.

8. For the apartment tenants, the tax is <u>d) a sales tax</u>.

9. The ultimate tax-burden bearer in question 8 is <u>(d) the tenants</u>.

10. An example of a protective tariff is (d) tax on the importation of foreign-made cars.

Thus, while income tax is mostly progressive in the United States, sales taxes are proportional, while some taxes are regressive because the amount paid is fixed and does not depend on the ability-to-pay principle.

Learn more about tax systems at brainly.com/question/12890967

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2 years ago
Roman Industries' plant operates five days per week with a daily payroll of $6,000. Employees are paid every Saturday for the wo
Sergeu [11.5K]

Answer:

$12,000

Explanation:

Calculation to determine the amount of Wages Expense recorded on the next payday, Saturday, April 3

Using this formula

Wages Expense=Daily payroll *2 days

Let plug in the formula

Wages Expense=$6,000*2 days

Wages Expense=$12,000

Therefore the amount of Wages Expense recorded on the next payday, Saturday, April 3 is $12,000

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C. Company cite :)
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