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Kamila [148]
4 years ago
9

17.the key factor that determines whether the supply of a good will be elastic or inelastic is _____.

Business
1 answer:
kati45 [8]4 years ago
6 0
The answer to the question above is time. As time pass, it will show the effects of the supply and how it will be elastic or inelastic. Time will tell how the changes will happen because it shows the length of the effects will occur and when it will the changes take place. This will help the people evaluate the supply of goods as time takes place.
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Say consumers buy two kinds of meat, beef and pork. If the price of pork doesn't change and the price of beef rises over time, t
mina [271]

Answer:

This will lead to overestimation of CPI and inflation.

Explanation:

Suppose consumers buy two types of meat, beef, and pork. If the price of pork remains the same while the price of beef increases, the consumers will prefer the cheaper substitute. As a result, the demand for pork will increase and the demand for beef will decline.  

If the Bureau of Labor Statistics does not include this substitution in the CPI calculation, it will cause the CPI to increase as the price of beef is increasing. But in reality, consumer spending has not increased as they are purchasing more of the cheaper substitute.  

This will lead to the overestimation of both CPI as well as the inflation rate.

5 0
4 years ago
The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 60,000 shares were origina
ruslelena [56]

Answer:

55,000 shares

Explanation:

Given that

60000 shares were originally given

5000 were subsequently reacquired

Thus. Net number of shares issued

= number of shares originally issued - number subsequently reacquired

= 60000 - 5000

= 55,000

Number of outstanding shares therefore is 55,000.

NOTE that, outstanding shares refer to the number of shares that has been issued, purchase or authorized by investors, that is, the number of shares currently held by all is shareholders.

3 0
3 years ago
Which of the following costs is a mixed cost? a. straight-line depreciation on factory equipment b. electricity costs of $3 per
Ksenya-84 [330]

Answer:

correct option is d. rental costs of $10,000 per month plus $0.30 per machine hour of use

Explanation:

solution

The combined cost is one in which the factor is variable and constant.

Sometimes, even the total cost is difficult to separate.

The chosen option also includes a fixed cost that costs $ 5,000 per month.

The cost per hour of the machine increases  0.30 per hour.

This is variable because the entire machine depends on the number of hours used.

The other three are completely variable, such as salary, and are not deductible or cost of electricity.

3 0
4 years ago
Mr. Hopper expects to retire in 30 years, and he wishes to accumulate $1,000,000 in his retirement fund by that time. If the int
Karo-lina-s [1.5K]

Answer:

Annual deposit = $4100

Explanation:

Annual deposit = $4100

Number of years for retirement = 30 years

Future value of money = $1000000

Interest rate = 12%

Now use the below formula to find the annuity amount.

Annual deposit = Future value (A/F, r, n)

Annual deposit = 1000000 (A/F, 12%, 30)

Annual deposit = 1000000(0.0041)

Annual deposit = $4100

3 0
3 years ago
Which of the following is a correct statement regarding the shipment of goods?
Nutka1998 [239]

Answer:

The answer is A) The shipping document must be in paper form.

Explanation:

When you are shipping goods (specially if you´re exporting or importing goods) you need a lot of paperwork done. The carrier, customs official, the banks involved, insurance companies, etc., all require several types of documents. The most important ones are:

  • Proforma invoice
  • Bill of Lading
  • Shipper´s Letter of Instructions (SLI)
  • Packing List
  • Commercial Invoice
  • Customs documents
  • Certificates of Origin
  • Dangerous Goods forms
  • Bank Draft

And all those documents need to be in paper form and some require several copies.

6 0
4 years ago
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