Sellers Market
(when demand exceeds supply, more buyers than homes available, leads to multiple buyers interested in a single property, this results in bidding wars driving the price up)
Answer:
Craig's Bowling, Inc
Income Statement for the month of July
Sales ($13,300 + $8,000) $21,300
Less: Cost of goods sold ($3,490)
Gross profit $17,810
Less: Expenses
Insurance ($1,800 / 3) $600
Wages $4,500
Repair expenses $1,800
Electricity bill $2,000
Total expenses ($8,900)
Net profit $8,910
Note:
Note that the purpose of the income statement is to calculate the profit or loss for a specific period, and not the cash flows during that period. Hence, transactions c., d. and e. are not to be recorded in the income statement for the month of July.
Answer:
By understanding its core values, an organization can take steps to define its mission, a statement of the organization's function in society that identifies its customers, markets, products, and technologies.
Explanation:
The core value of a company can be defined as the enduring principles that govern it's fundamental conduct towards attainment of it's goals. It is usually a passionate pledge on the principles that the organization stands for. The founders of the company or organization are usually the authors of an organization's core values since the founders can be seen as the embodiment of the principles that they believe and live by. They strive to capture the organization's heart and soul in order to motivate it's employees, stakeholders and board of directors to drive the organization in such a way that the organization will be a reflection of it's core values.
Once the core values of an organization are understood, the organization can take steps to define its mission. The mission statement tends to define it's role to the society that identifies its customers, markets, products, and technologies. The mission statement should be brief, understandable and concise.
Answer:
-2
Explanation:
To solve this question we can use Lerner's equation or Lerner's index which gives the relationship between elasticity of demand and profit maximizing cost and marginal cost:
Replacing 
Then we get that the elasticity of demand is 
