One of the best networking traits you can develop is

When the price of a bar of chocolate is $1.00, the quantity demanded is 100,000 bars. When the price rises to $1.50, the quantit

Bas_tet [7]

Answer:

a. -1.25

b. -1.25

Explanation:

Price elasticity is used to measure the change in demand as a result of a change in price.

Formula is;

= % change in Quantity/ % change in Price

a. Suppose the price increases from $1.00 to $1.50. The price elasticity of demand is:

% change in Quantity using the midpoint formula;

$=\frac{Q2 - Q1}{\frac{Q1 + Q2}{2} } \\\\= \frac{60,000 - 100,000}{\frac{100,000 + 60,000}{2}} \\\\= -0.5$

% Change in Price using midpoint formula

$=\frac{P2 - P1}{\frac{P1 + P2}{2} } \\\\= \frac{1.5 - 1.00}{\frac{1.00 + 1.50}{2} } \\\\= 0.4$

= -0.5/0.4

= -1.25

b. Suppose the price decreases from $1.50 to $1.00. The price elasticity of demand is:

% change in Quantity using the midpoint formula;

$=\frac{Q2 - Q1}{\frac{Q1 + Q2}{2} } \\\\= \frac{100,000 - 60,000}{\frac{100,000 + 60,000}{2}} \\\\= 0.5$

% Change in Price using midpoint formula

$=\frac{P2 - P1}{\frac{P1 + P2}{2} } \\\\= \frac{1.00 - 1.50}{\frac{1.00 + 1.50}{2} } \\\\= -0.4$

= 0.5/-0.4

= -1.25

7 0

3 years ago

List and describe the four basic rights in the private enterprise system

Elodia [21]

Private property

competition

profits

and freedom of choice

8 0

4 years ago

Read 2 more answers

URGENT QUESTION - BUSINESS/COMPUTERS - I JUST NEED ADVICE/HELP

Korolek [52]

Hop it helped you and you get a good grade on that assignment

6 0

3 years ago

Read 2 more answers

Merger Co. has 10 employees, each of whom earns $1,700 per month and has been employed since January 1. FICA Social Security tax

andriy [413]

Answer:

Date Description Debit Credit

March, 31 Payroll Tax expense $‭2,320.5‬0

FICA Social Security taxes $1,054

FICA Medicare taxes $ 246.50

FUTA taxes $ 102

SUTA taxes $ 918

<u>Working </u>

FICA Social Security taxes = 1,700 * 10 * 6.2% = $‭1,054‬

FICA Medicare taxes = 1,700 * 10 * 1.45% = $‭246.5‬0

FUTA Taxes = 1,700 * 10 * 0.6% = $‭102‬

SUTA Taxes = 1,700 * 10 * 5.4% = $‭918‬

Payroll Tax expense = 1,054 + 246.50 + 102 + 918 = $‭2,320.5‬0

7 0

3 years ago

What was centerpiece arrangements retained earnings for December 31, 2024? And retained earnings for January 1 2024? And Net inc

pashok25 [27]

1. Centerpiece Arrangements' retained earnings for December 31, 2024, were <u>$2,400</u>.

2. Centerpiece Arrangements' retained earnings for January 1, 2024, were <u>$5,100</u>.

3. Centerpiece Arrangements' Net Income for January 1, 2024, was <u>$2,100</u>.

<h3>What are Retained Earnings?</h3>

Retained earnings are the undistributed profits of an entity accumulated over a period of time.

The formula for computing the Retained Earnings is Beginning Retained Earnings Plus Net Income or Loss Minus Dividends.

<h3>Data and Calculations:</h3>

Centerpiece Arrangements

<h3>Statement of Retained Earnings</h3>

For December 31, 2024

Retained Earnings, January 1, 2024, $5,100

Net Income 2,100

Dividends 4,800

Retained Earnings, December 31, 2024, 2,400

Learn more about Retained Earnings at brainly.com/question/25998979

#SPJ1

<h3>Question Completion:</h3>

Centerpiece Arrangements - X Data Table

Retained Earnings, January 1, 2024, $5,100

Accounts Payable 17,600

Office Supplies 1,700

Common Stock 9,000

Accounts Receivable 8,000

Cash 7,200

Equipment 12,100

Centerpiece Arrangements

<h3>Income Statement </h3>

Year Ended December 31, 2024

Revenues:

Service Revenue $ 70,000

Expenses:

Salaries Expense $ 46,000

Rent Expense 16,000

Insurance Expense 4,500

Utilities Expense 1,400

Total Expenses 67,900

Net Income $ 2,100

4 0

2 years ago