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Nadusha1986 [10]
3 years ago
5

The price of stadium seats at a baseball game increases from $20 to $30 and ticket sales fall from 45,000 per game to 35,000 per

game. If other things remained constant, then it appears that the price elasticity of demand is:
Business
1 answer:
Xelga [282]3 years ago
8 0

Answer:

Inelastic

Explanation:

Price Elasticity of demand is the a measure which is used to show the responsiveness of the quantity to its price.

Price Elasticity of demand = Change in quantity / Change in price

% Change in quantity = ( 45,000 - 35,000 ) / 45,000 = 22.22%

% Change in price = ( 20 - 30 ) / 20 = -50%

Price Elasticity of demand = Change in quantity / Change in price

Price Elasticity of demand = 22.22% / -50% = -0.4444

As the answer is less than 1 so, demand is Inelastic.

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Ryan's Sparkling Jewels estimated its payroll for the coming year to be $84,000. Its workers' compensation
jarptica [38.1K]

Ryan's Sparkling Jewels estimated its payroll for the coming year to be $84,000. Its workers' compensation insurance premium rate of 0.6% is paid at the beginning of each quarter required: Calculate the estimated cost of workers' compensation insurance for the year.

Answer:

$504 per year

$126 per quarter

Explanation:

workers' compensation insurance = payroll x insurance rate.

$84,000 x 0.6%

$84,000 x 0.006 = $504 per year

$504 ÷ 4 = $126 per quarter

5 0
3 years ago
On November 30, the company received an invoice from the electric company for $200. The company will pay the invoice in December
harkovskaia [24]

Answer:

Utility expense Dr.                      $200

  Accounts payable Cr.                $200

(To record the entry for electric expense)

Explanation:

Given the amount of the invoice = $200

The expenses like Electricity expenses come under utility expenses so the incurred electricity expense will show that the utility expenses are debited and account payable is credited. Here the account payable is credited because the is not paid.

Thus, below is the entry as on 30th November.

Utility expense Dr.  $200

  Accounts payable Cr.    $200

(To record the entry for electric expense)

8 0
3 years ago
when you interpret the behavior of others according to your experiences and understanding of the world, your evaluation is.
Alla [95]
Your evaluation is Egocentric - limited to your own egoic perspective and without consideration of the experiences and understanding of others (which may be very different)
3 0
3 years ago
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Suppose that the full employment level of nominal GDP rises in one year from ​$13.8 to ​$14.2 trillion. The​ long-run equilibriu
vovikov84 [41]

Answer: ​The answer is that, AD has shifted to exactly $0.35 trillion.

Explanation:

It should be noticed that, AD has been shifted to exactly ​$0.35 trillion (Rounded in two decimal places.​) when the the​ long-run aggregate supply curve shifted to the right from one year to the​ next.

6 0
3 years ago
which component of effective high-performance teams is represented by the use of real-time feedback devices acls
ahrayia [7]

Answer: Quality

Explanation:

High-performance teams refers to the teams, or organizations which focuses on their goals and therefore achieve superior results and outperform other similar teams.

The component of effective high-performance teams that is represented by the use of real-time feedback devices is quality.

4 0
3 years ago
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