Answer:
The demand becomes less elastic.
Explanation:
The elasticity of demand, or demand elasticity, refers to how sensitive demand for a good is compared to changes in other economic factors like price or income. ... An elastic product is defined as one where a change in the price of the product leads to a significant change in the demand for that product. Elasticity is an important economic measure, particularly for sellers of goods or services, because the reflects how much of a good or service buyers will consume when the price increases or decreases. Products or services that are elastic are either unnecessary or can be easily replaced with a substitute.
Answer:
Annual depreciation= $15,950
Explanation:
Giving the following information:
On January 2, 2017, the Matthews Band acquires sound equipment for concert performances for $65,800.
The band estimates it will use this equipment for four years. It estimates that after four years it can sell the equipment for $2,000.
We need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (65,800 - 2,000)/4= $15,950
Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
This is an example for the regulation of the government having a negative impact on trade.
The celling policy if people trade below that value is uneffective and useless but, if the agent of the market trade above the celling in some transactiosn (this book may be a best.seller or a book which is hard to find in the given moment) the regulation prohibits and no trade is done. No trade implies neither consumper or producer surplus. While the government state the celling acts in well-being and good for the consumer in this case it is proved wrongly. The consumer would pay between 59 and 64 having a surplus and the produced above 59 will also enjoy a surplus from trade.
Explanation:
Answer and Explanation:
The computation of the depreciation expense and book value at the end of 2016 is shown below:
But before that first determine the cost of the asset which is
Cost of the asset is
= Purchase price + rear hydraulic lift + sales tax
= $62,000 + $8,000 + $3,000
= $73,000
Now the depreciation expense is
= ($73,000 - $8,000) ÷ (10 years)
= $6,500
ANd, the book value is
= $73,000 - $6,500 × 2
= $60,000
