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Lady_Fox [76]
3 years ago
15

If the elasticity of demand for Good A is −3, a 33 percent decrease in quantity demanded of Good A results from a(n) ________ in

the price of Good A. a. 99 percent decrease b. 99 percent increase c. 11 percent decrease d. 11 percent increase e. 33 percent decrease
Business
1 answer:
velikii [3]3 years ago
7 0

Answer:

Option (d) is correct.

Explanation:

Given that,

Elasticity of demand for Good A = −3

Percentage decrease in quantity demanded for Good A = 33%

Elasticity of demand for Good A = Percentage change in quantity demanded for Good A ÷ Percentage change in price of Good A

-3 = - 33 ÷ Percentage change in price of Good A

Percentage change in price of Good A = (-33) ÷ (-3)

                                                                 = 11%

Therefore, percentage increase in price of good A is 11%.

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Which of the following statements about packaging is the most accurate?
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7 0
3 years ago
Ted can wax a car in 20 minutes or wash a car in 60 minutes. Tom can wax a car in 15 minutes or wash a car in 30 minutes. What i
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Answer:

0.33

0.5

Ted

Explanation:

Ted's opportunity cost = 20 / 60 = 0.33

Tom's opportunity cost = 15 / 30 = 0.5

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Thus, ted has an opportunity cost in washing cars.

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4 0
3 years ago
Liverpool Inc. purchased machinery for $32,000. The machinery was later sold for $18,000. Liverpool had already recorded depreci
satela [25.4K]

Answer:

B. $2,000 loss

Explanation:

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8 0
3 years ago
Read 2 more answers
On January 1, ABC sold $30,000 in products to a customer on account. Then on January 10, ABC collected the cash on that account.
____ [38]

Answer:

Collection of Cash on January 10

The Impact on ABC's accounting equation:

The Assets (Cash) will increase by $30,000 and another type of Assets (Accounts Receivable) will decrease by $30,000.

The collection of cash on January 10 does not affect the other side of the accounting equation.

Explanation:

The accounting equation shows that for every transaction, the Assets will be equal to the Liabilities + Owners' Equity.  The explanation is that the financial resources which an entity owns actually belong to either creditors or equity owners in the form of financial obligations (liabilities) or contributed capital plus some parts of the net income over the years which the entity has reinvested in its business.

The accounting equation is the fulcrum of the double-entry accounting system.  On a company's balance sheet, the accounting equation shows that assets equal the sum of the company's liabilities and shareholders' equity.

7 0
3 years ago
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