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dybincka [34]
3 years ago
12

Elasticity is a. a measure of how much buyers and sellers respond to changes in market conditions. b. the study of how the alloc

ation of resources affects economic well-being. c. the maximum amount that a buyer will pay for a good.
Business
1 answer:
MrRa [10]3 years ago
3 0

<u>Answer:</u>

Elasticity is  a measure of how much buyers and sellers respond to changes in market conditions.

<u>Explanation:</u>

Elasticity is a measure of a variable's responsiveness to a variation in another variable, most generally this consciousness is the variation in price applicable to fluctuations in other factors. It is predominantly practiced to evaluate the shift in consumer interest as a consequence of a variety in a good or service's price.

A product is supposed to be elastic if the quantity requirement of the product evolves drastically when its price rises or drops. Conversely, a product is deemed to be inelastic if the volume requirement of the product varies very little when its value alternates.

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Answer and Explanation:

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2 years ago
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5 0
3 years ago
Ed, a businessperson, is a friend of Fran, the owner of a Percolated Coffee &amp; Baked Goods store. Every day, Ed spends five m
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An contract is an understanding agreement that can be implemented in court it is a shaped by two or more gatherings who consent to perform or to cease from playing out some demonstration now or later on . The target hypothesis of agreements not by the individual or subjective aim or conviction of a gathering .The hypothesis is that gathering's expectation to go into an agreement is judged by outward destinations truths as deciphered by a sensible individual ,as opposed to by the gathering's mystery subjective aims . the essential components of a substantial contract and the path in which an agreement is made. The agreements that fall under this circumstance would be the agreement of arrangement contract of development ,contract of execution and the agreement of enforceability. The main contract would be the agreement of arrangement .They are contracts that are grouped in light of how when an agreement of development .

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8 0
3 years ago
Nolan Company's cash account shows a $22,064 debit balance and its bank statement shows $22,531 on deposit at the close of busin
Bezzdna [24]

Answer:

Nolan Company

Bank Reconciliation

June 30

                                                                                                     $

Balance per cash book                                                            22,064

Less: Bank Service charges                                                    (       24)

Add: Error in  recording payment ( $ 59- $ 50)                                9

Add: Interest earned                                                               <u>         27</u>

Adjusted balance per cash book                                           <u> 22,076</u>

Balance per bank statement                                                    22,531

Less: Outstanding checks                                                       (  2,655)

Add; Deposits in Transit                                                           <u>   2,200</u>

Adjusted balance per bank statement                                     <u>22,076</u>      

     

Explanation:

The bank service charges and the interest earned appear on the bank statement and has to be adjusted in the cash book balance. The errors found in recording the payment at $ 59 instead of  $ 50 results in an overpayment and the correction needs to be added to the cash book balance

the outstanding checks has not yet been cleared by the bank so there is a reduction on the bank statement balance. The deposits in transit has not been received by the bank so needs to be adjusted as an addition on the bank statement balance.

3 0
3 years ago
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