A 4 percent decrease in the price will lead to an increase in the quantity demanded by less than 4 percent.
<h3>What is demand?</h3>
Demand simply means the amount of goods and services that a buyer wants to buy at a particular price and time.
When the demand for product x is inelastic, a 4 percent decrease in the price of x will lead to an increase in the quantity demanded by less than 4 percent.
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Answer:
1) Colt Carriage Company
Income Statement
For the month ended April 202x
Revenues:
- Adults passengers $186,300
- Children $81,000
- Total revenues $267,300
Variable costs:
- City fees $26,730
- Souvenirs $7,425
- Brokerage fees $11,340
- Carriage drivers $52,650
- Total variable costs <u>$98,145</u>
Contribution margin $169,155
Period costs:
- Depreciation $2,900
- Horse leases $48,000
- Marketing expenses $7,350
- Payroll expenses $7,600
- Total period costs <u>$65,850</u>
Operating profit $103,305
2) If the total amount of passengers increase by 10%, then all variable costs will increase by 10% except brokerage fees which would increase only by 6%. Revenues should also increase by 10%. Period costs should not change.
Contribution margin should increase by 10.29% and operating profit would increase by 16.81%.
Explanation:
since the information is not complete, I looked it up:
Revenues
13,500 passengers:
8,100 x $23 = $186,300
5,400 x $15 = $81,000
total $267,300
variable costs:
fees paid to the city 10% of total revenue
souvenirs $0.55 per passenger
brokerage fees 60% of total tickets x $1.40
carriage drivers $3.90 per passenger
fixed costs:
depreciation $2,900
horse leases $48,000
marketing expenses $7,350
payroll expenses $7,600
Answer:
<em>Cristano</em><em> </em><em>ronaldo</em>
<em>Lionel </em><em>Messi</em>
<em>Donald </em><em>trump</em>
True. In restaurants, tipping is not customary because it violates the tradition of Tahitian hospitality.
This is true of many foreign culures. They do not work for tips like servers in the United States and it very much violates their hospitality. These servers get paid a full hourly wages for serving their customers rather than wait to see what they make off each table when they leave. Service and hospitality is highly important in these countries.
Answer:
All of the statements are correct
Explanation:
All of the statements are correct
As in an accounting entry there is an account which is debited and an account which is credited.
Although there might be numerous accounts which are debited or credited at the same time.
Thus, every credit in an entry balances the accounting equation, with respect to the assets and liabilities and stockholder's equity.
Further as assets show debit balance, whenever there balance decreases the assets are credited.
Liabilities show a credit balance, whenever it is increased it will be credited.
In a t shape account all debits are placed right side, and all the credits are shown on the right side.
