The cross-price elasticity of demand is -1.82
Calculate the cross-price elasticity of demand:
The formula to calculate the cross-price elasticity of demand is:
(92 -91)/[(02 + 91)/2]
Cross price elasticity
(P2- A)/[(P +P)/ 2]
(15-10)/ [(15+10)/2]
(4-5)/ (4+5)/2]
5/12.5
-1/4.5
0.4
-0.22
=-1.82
Therefore, the cross-price elasticity of demand is -1.82. Since the demand is negative
The goods are said to be Complements.
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Suppose that when the price of peanut butter falls from $5 to $4 per jar, the quantity of jelly purchased rises from 10 million jars to 15 million jars. Instructions: Round your answer to two decimal places and include a negative sign if appropriate. The cross-price elasticity of demand between peanut butter and jelly using the midpoint method is The goods are?
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The legal contract between the bondholders and the issuer is called the bond <u>indenture.</u>
A bond indenture is important as it helps to protect the interest if the stakeholders and also lowers the chance of default.
It should be noted that the indenture list provides the details of a bond. It helps in ensuring transparency. Therefore, the legal contract between the bondholders and the issuer is called the bond indenture.
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Answer: $110,432
Explanation:
The cost allocated to the Office furniture is the percentage of total appraised cost * the price paid for the basket purchase because it shows what proportion of the Basket Purchase should be ascribed to the Office furniture.
Total Appraised value = 140,000 + 460,000 + 110,000
= $710,000
Office furniture Proportion = 140,000/710,000
= 0.1971830985
=0.1972
Amount to be allocated to Office furniture = 0.1972 * 560,000
= $110,432
$110,432 should be allocated to the office furniture.
= $110,422.
Answer:
Zero
Explanation:
Supply is buyers ability & willingness to sell at given price, period of time.
Elasticity of Supply is change in supply by buyers, in response to price change.
Supply Elasticity is as undermentioned in following cases :-
- Zero (Perfectly Inelastic) - Quantity supplied doesn't change with price change.
- Inelastic - Quantity supplied change < price change.
- Elastic - Quantity supplied change > price change
- Infinite (Perfectly Elastic) - Quantity supplied responds infinitely high to price change, prices stay constant.
Given : Fishermen must sell all his daily catch before it spoils; means he will have to sell daily produce <u>irrespective</u> of any price change (rise / fall). So, the elasticity of supply is zero.
If the company sold 25 jet skis at $7,000 each the total value of the sale is $175,000. The correct way to record this transaction would depend on how the sale was paid for.
If the jet skis were paid for with cash the entry is going to be a debit to Cash for $175,000 and a credit to Sales for $175,000. If they were sold on account the entry is going to be a debit to Accounts Receivable for $175,000 and a credit to Sales for $175,000.
