Increase the quantity demanded by about 25 percent.
<h3>What is the short definition of price elasticity?</h3>
- Price elasticity in business and economics refers to how much people, consumers, or producers alter their demand or the quantity supplied in reaction to changes in price or income.
- It is mostly used to evaluate how consumer demand has changed as a result of a price change for a good or service.
<h3>What are some examples of price elasticity of demand?</h3>
- When a price increase results in a greater percentage reduction in demand, we say a good is price elastic.
- For instance, if price increases 20% and demand declines 50%, the PED equals -2.5. One illustration is Heinz soup. Heinz soup options are plenty today.
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Answer:
$22,450
Explanation:
Bad debt Expense will be calculated using the percentage of debt loss. The expense will be calculated using the account receivable balance
Beginning bal. of Allowance for Doubtful Accounts ($21,600)
- Uncollectible Accounts Receivable written off <u>$32,700</u>
Adjustment of Allowance for Doubtful Accounts <u>$11,100 </u>
Accounts receivable balance at December 31 $11,350
+ Adjustment of Allowance for Doubtful Accounts $11,100 Adjustment to Allowance for Doubtful Accounts $22,450
at December 31, 2022
Answer:
33.33%
Explanation:
Unemployment rate is the proportion of the labour force without a job
Unemployment rate = (number of unemployed workers / total labour force ) x 100
25 /75 x 100 = 33.33%
