If GSU feels that raising tuition would enhance revenue, it is assuming that the demand for university education is inelastic.
- The quantity of a good that consumers are willing and able to buy at different prices during a specific time period is known as demand in economics. The demand curve is another name for the relationship between price and quantity demand.
- A change in demand whose percentage is less than a change in price. Demand is said to be inelastic, for instance, if the price of a good increases by 25% but drops in demand by just 2%.
- When there is a small change in the quantity demanded when the price changes, a good or service has inelastic demand. The term "price inelasticity of demand" is another name for this. An example of inelastic demand is gasoline, where individuals generally buy the same amount even when prices rise.
Thus this is the answer.
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Answer:
Fixed cost in an organization does not change and is fixed while the variable cost keep changing if the production is increased.
Explanation:
Fixed cost are said to be that cost which does not change with production level for a certain limit. Let us suppose there is no change in the rent amount if we have only factory for the production of goods.
But the variable cost are those cost which increases as production increases. More will be the variable cost when the production will be more. Also for per unit basis, the variable cost remains the same.
Fixed cost are not important in decision making if there is an excess of capacity available.
For example,
Direct labor, direct material -- variable cost
Salary of supervisor, rent of factory -- fixed cost
Even though there is not much change in the variable cost, like for suppose material price increases, a company can still make a budget that is based on the past experience and predicting the market prices. Similarly, if there is a machine that uses three units of direct material for a piece if finished product, which is not going to change in the future. Thus the company can make a budget.
Answer:
Under classified balance sheet, common stock and retained earnings are reported separately
Explanation:
Under equity section of balance sheet, common stock and retained earnings are line items i.e they are reported under equity section of balance sheet separately.
The total of these two should also be separated i.e the total is a line item also. And this forms the total equity provided there are no other line items for the for the period again.
Answer:
$1,053.48
Explanation:
For computing the price of the bond we use the Present value formula which is to be shown in the attachment below:
Given that,
Future value = $1,000
Rate of interest = 6.4%
NPER = 10 years - 1 year = 9 year
PMT = $1,000 × 7.2% = $72
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
After applying the above formula, the price of the bond is $1,053.48
The principle to follow for forming a marketable resume stands D. all of the above.
<h3>
What is a resume?</h3>
A resume exists as a formal document that a job application forms to itemize their capabilities for a position. A resume is usually accompanied by a customized cover letter in which the applicant represents an interest in a characteristic job or company and draws attention to the most relevant specifics on the resume.
A resume exists as a CV (Curriculum Vitae) or a document produced and operated by an individual seeking employment or an appointment to present their:
- Background
- Skills
- Accomplishments.
To play a successful resume, one should:
- Tailor it to the requirements of the employer.
- Usage industry and job-related terms.
- Compare it to the job description.
The principle to follow for forming a marketable resume stands D. all of the above.
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