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Doss [256]
3 years ago
7

If, when the price of a product rises from $2 to $3, the quantity demanded of the product decreases from 600 to 400, the price e

lasticity of demand coefficient, using the midpoint formula, is:
Business
1 answer:
const2013 [10]3 years ago
6 0
Price elasticity of demand is often talked about when the demand for a good is sensitive to pricing. The equation is,
                             n = ((Q1 - Qo)/(Q1 + Qo)) / ((P1 - Po)/(P1 + Po))
Substituting the known values,
                            n = ((400 - 600)/(400 + 600)) / ((3 - 2)/(3 + 2))
                                n = -1
Thus, the price elasticity of demand is -1. 
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Bidder conferences are used to:
Zarrin [17]

Answer:

A. Answer questions about the project prior to submittal of proposals

Explanation:

A bidder conference is a meeting held by a buyer to discuss a possible purchase with multiple potential suppliers.

4 0
3 years ago
The Molding Department of Boswell Company has the following production data: beginning work process 40,000 units (60% complete),
Anna [14]

Answer: 770,000

Explanation:

Assuming materials are entered at the beginning of the process, the equivalent units materials will be:

Beginning work process = 40,000 units

Started into production = 730,000 units

Then equivalent units materials will be:

= 40000 + 730000

= 770000

5 0
3 years ago
Short Company purchased land by paying $15,000 cash on the purchase date and agreed to pay $15,000 for each of the next ten year
gogolik [260]

Answer:

Option D is the correct answer,$ 88,338.48  

Explanation:

The liability reported in the balance sheet can be computed by using the pv formula in excel which is stated thus:

=-pv(rate,nper,pmt,fv)

rate is the incremental borrowing rate of 11% per year

nper is the number of payments required to settle the obligation which is 10

pmt is the amount of yearly payment in order to fully settle the debt owed which is $15,000 per year

fv is the future worth of total payments which is not unknown,hence taken as zero

=-pv(11%,10,15000,0)=$ 88,338.48  

The correct answer is $ 88,338.48  

3 0
3 years ago
​Andre, Beau, and Caroline share profits and losses of their partnership in a ​:​: ratio respectively. If the net income is ​, c
Brums [2.3K]

Answer: $545,454.55

Explanation:

Caroline's share of the profit would be her sharing ratio over the total ratio time the net income.

= (6 / ( 6 + 2 + 3)) * 1,000,000

= 6/11 * 1,000,000

= $545,454.545

= $545,454.55

7 0
3 years ago
What limits specialization in the global economy?
abruzzese [7]
The answer is "trade barriers"
3 0
3 years ago
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