A 4 percent decrease in the price will lead to an increase in the quantity demanded by less than 4 percent.
<h3>What is demand?</h3>
Demand simply means the amount of goods and services that a buyer wants to buy at a particular price and time.
When the demand for product x is inelastic, a 4 percent decrease in the price of x will lead to an increase in the quantity demanded by less than 4 percent.
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Answer: The answer is True.
Explanation: The Buyer Decision process has 5 phases and they are as follows:
1. Need recognition phase, where the buyer recognizes that they have a need to fill.
2. Information search phase, where the buyer seeks information on the best options to meet their needs.
3. Alternative evaluation phase, where a buyer evaluates the alternative enterprises that can best meet their needs.
4. The purchasing phase, where a buyer makes the decision to purchase the product or service of the best alternative, based on the evaluation in phase 3.
5. Post-purchase behavior phase where the buyer will either be happy with the product or service or will regret buying the product or service. Often, the buyer will advice other people to either buy or avoid buying that product or service, based on their experience.
Answer:
a.) the economic surplus is greater at the equilibrium quantity.
Explanation:
This is correct because at lower production levels a dead weight is created of the potential surplus that is not obtained either for producer nor consumers. At equilibrium, the maximum surplus is achieved and is allocated among producers and consumers
Answer:
The amount of income that David will report this year if he elects to amortize the bond premium is $455.94.
Explanation:
This can be calculated as follows:
Interest income = Carrying value of the bond * Yield to maturity…………….. (1)
Where;
Carrying value of the bond = $13,410
Yield to maturity = 3.4%
Substituting the values into equation (1), we have:
Interest income = $13,410 * 3.4% = $455.94
Therefore, the amount of income that David will report this year if he elects to amortize the bond premium is $455.94.
As a result of the discontinued operations loss, net of tax, the earnings per share would decrease by $2.24.
<u>Explanation:</u>
Change in EPS
= $1120000 ÷ 500000 outstanding shares
= $2.24.
