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Lady bird [3.3K]
3 years ago
5

If marijuana were legalized, it is likely that there would be an increase in the demand for marijuana. If demand for marijuana i

s inelastic and the supply of marijuana is perfectly elastic, this will result in a. the same price but lower total revenue from marijuana sales. b. higher prices and higher total revenue from marijuana sales. c. higher prices but lower total revenue from marijuana sales. d. the same price and higher total revenue from marijuana sales.
Business
1 answer:
Mkey [24]3 years ago
4 0

Answer:

C. Higher prices but lower total revenue from marijuana sales.

Explanation:

The above scenario totally explains inelastic demand. Inelastic demand is when the buyer’s demand does not change as much as the price changes. When price increases by 20% and demand decreases by only 1%, demand is said to be inelastic.

When the price increases, people will still purchase roughly the same amount of the good or service as they did prior to the increase because their needs stay the same. A similar situation exists when there is a decrease in price demand will not increase substantially because consumers only have a limited need for the product.

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Answer:

The cash accounting systems

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The cash accounting systems recognize incomes and expenses when paid is received, or when payments are made. Revenue is recorded when customers make payments against an invoice, and expenses recorded when the business pays its payable. The cash accounting system is also called cash basis accounting.

The cash basis accounting system is mostly used by small business organizations.  Gerald's manufacturing firm uses the cash accounting system because transactions are recorded when money goes in or out of business. The cash basis is not recommended for large business organizations.

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3 years ago
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Carver Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regardi
german

Answer:

$55,300

Explanation:

Calculation to determine what The net income for December would be:

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The Pearsons decided to beautify their home by investing in a professional interior design. In the process, they dealt with empl
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<h3>What is a landscaping person? </h3>
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Mike and Ike, the fruit-flavored chewy candies, needed a major facelift. The brand had a small but loyal core of "munchers." A r
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By changing the product packaging, the company modified its product strategy.

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