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kogti [31]
3 years ago
10

Let's say the demand elasticity for Aaron's scones is |.5|. Then for a 1% increase in prices, there will be a .5% _______in quan

tity demanded. Demand is ____.
Business
1 answer:
Sidana [21]3 years ago
4 0

Answer:

Decrease; inelastic

Explanation:

Let's say the demand elasticity for Aaron's scones is |.5|. Then for a 1% increase in prices, there will be a .5% DECREASE in quantity demanded. Demand is INELASTIC.

Because demand elasticity is greater than one(1.5), it is price elastic i.e it is sensitive to price. An increase in price will lead to a decrease in quantity demanded and vice-versa.

But because the responsiveness in quantity demanded or the sensitivity to the change in price is not significant, the demand is inelastic.

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Riverrun Co. provides medical care and insurance benefits to its retirees. In the current year, Riverrun agrees to pay $31,500 f
salantis [7]

Answer:

Date                     Details                                                Debit               Credit

December 31,      Employee benefits expense            $41,150

                             Medical insurance payable                                    $31,500

                             Employee Retirement program                             $9,650

                             payable

Working

= 31,500 + 9,650

= $41,150

7 0
3 years ago
For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP
melisa1 [442]

Answer:

Transactions included in the calculation of U.S. GDP:

Transaction C I G X M

1.  X

2. M

3.  I

4. C

5. G

Explanation:

a) GDP constituents:

Consumption (C) = private consumption expenditures by US households and non-profit-making organizations.

Investment (I) = business expenditures by profit-making organizations for purchase of capital goods or input for further processing.

Government purchases (G) = government spendings for public goods.

Exports (X) = Goods and services moved from the US to other countries.

Imports (M) = Goods and services from other countries into the US.

6 0
3 years ago
Erin works for a dry-cleaning company that has a contract with the U.S. government. To save on cleaning fluid, her boss orders h
Karo-lina-s [1.5K]

Answer:

A) is not protected by the whistleblower statute because she failed to inform the proper party of the contract violation.

Explanation:

A whistleblower is someone who exposes illegal or unethical activities carried on by public or private organizations including government entities, businesses, other non-profit organizations, etc.

Gossiping about what happens in an organization is not exposing their wrongful activities, in order for an individual to be considered a whistleblower, he/she must inform the illegal or unethical activities to the public authorities.

8 0
3 years ago
Rules of the ______ are established by the state government to regulate vehicles and govern traffic.
aleksandrvk [35]

Rules of the <u>road </u>are established by the state government to regulate vehicles and govern traffic.

3 0
4 years ago
What term best describes the relationship between units of a good demanded across a range of prices?
nexus9112 [7]

What term best describes the relationship between units of a good demanded across a range of prices? Supply. The supply of something refers to how many units of a good or service are available at the time they are desired. There are a range of items at various prices that could be available depending on the demand of the item. Supply and demand go hand in hand because the demand for an item increases the supply of them.  

8 0
3 years ago
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