All categories

3 years ago

use the total revenue test to determine whether the demand for home heating oil is elastic or inelastic and why

1 answer:

6 0

Home heating oil is considered inelastic demand instead of elastic demand. Inelastic demand is when people will buy the same amount whether the price of the good drops or rises. People who buy home heating oil want their homes to be kept heated and warm, since they are buying it to serve a purpose like this, whether the price rises or drops they still will need it. Since they will need it regardless of price, they will continue to buy it and therefor it is inelastic.

You might be interested in

Why is 4pex learning so hard

adoni [48]

because the person who made it likes to make people mad/sad

3 0

2 years ago

Provides house-sitting for people while they are away on vacation. Some of its customers pay immediately after the job is finis

GalinKa [24]

Answer:

a. $1,000 will be recognized as service revenue using the cash basis.

b. $2,400 ($1000 plus $1400) will be recognized as service revenue using the accrual basis.

Explanation:

Given that as of the end of the year, Peaceful Home has collected $ 1,000 from cash-paying customers while Peaceful Home 's remaining customers owe the business $ 1,400.

Revenue to be recognized using;

Cash basis

$1,000 will be recognized as service revenue using the cash basis.

Accrual basis

On accrual basis, revenue is recognized when the service has been provided irrespective of whether cash has been collected or not.

A total of $2,400 ($1000 plus $1400) will be recognized as service revenue using the accrual basis.

7 0

3 years ago

When you purchase an item in a store you may be charged

labwork [276]

Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.
When you purchase an item in a store you may be charged by Sales tax. It is <span>a tax on sales or on the receipts from sales.</span>

6 0

3 years ago

As a minority group member, when Naomi interacts with members of the dominant ethnic group in her culture, she is asked insensit

astraxan [27]

Answer:

Explanation:

Ethno-centrism is the act of judging or prejudice shown to others because of their ethnic background.

Since Naomi was asked insensitive questions and was spoken to very slowly shows a case of low ethno-centrism.

This degree of ethno-centrism occurs when someone displays insensitivity and little hostility in their verbal and nonverbal dealings with minority groups.

4 0

3 years ago

The following data is from the Ace Guitar Company for the A and B regions.

Marina CMI [18]

Answer:

Ace Guitar Company

The service departments' expenses proportional to the sales of each region are as follows:

A Region = $216,580

B Region = $116,620

Explanation:

a) Data and Calculations:

A Region B Region Total

Sales $773,500 $416,500 $1,190,000

Cost of goods sold 293,900 158,300 452,200

Selling expenses 185,600 100,000 285,600

Service department expenses

Purchasing $199,900

Payroll accounting 133,300

Total $333,200

A Region = $216,580 ($773,500 / $1,190,000 * $333,200)

B Region = $116,620 ($416,500 / $1,190,000 * $333,200)

8 0

3 years ago