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lions [1.4K]
3 years ago
5

Fill in the blanks with given options:

Business
1 answer:
labwork [276]3 years ago
4 0

Answer:

1. fall

2. Larger

3. more

Explanation:

The price elasticity is relative measure of change in demand. When the demand of heating oil decreases due to increase in price then the heating oil is considered as price elastic. The elasticity of heating oil is 0.2 in the short run and 0.7 in the long run which means customers respond less in change of demand in short run due to change in price. When the price of heating oil increases, the demand will fall in the short run.

In the short run customers may not find time to respond to the change in price. The change in demand in short run is smaller and change in demand in Long run will be larger.  

The price elasticity of heating oil is more in long run because customer may find alternate sources at a cheaper rate and may switch to it causing a greater fall in demand of heating oil.  

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The correct way to record these 3 months is as a liability (deferred income) when the income is realized they are taken to the income statement.

7 0
3 years ago
Garcia Industries has sales of $200,000 and accounts receivable of $18,500, and it gives its customers 25 days to pay. The indus
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Answer:

$488.77

Explanation:

Rates : 8%

Sales : 167,500

A/R : 18,500

Days in Year 365

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Solve x = 12,390.41

x = This is the sum to be deducted for receivable accounts.

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6,109.59 x 8% = 488.77

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3 years ago
Hill Co. can further process Product O to produce Product P. Product O is currently selling for $60 per pound and costs $42 per
NARA [144]

Answer:

(A) True

Explanation:

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So the statement “The differential cost of producing Product P is $13 per pound” is true

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3 years ago
Although not recommended, some marketers decide to ignore market segmentation and target the whole market with one offer. this i
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7 0
3 years ago
Douglas Industries produced 5,500 units of product that required 2.5 standard hours per unit. The standard variable overhead cos
jeka94

Answer:

The variable factory overhead controllable variance is $2,250 favorable.

Explanation:

variable factory overhead controllable variance

= standard variable cost - actual variable cost

= $5500-2.5*3 - $39000

= $2,250 favorable

Therefore, The variable factory overhead controllable variance is $2,250 favorable.

8 0
3 years ago
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