Advertisement was not an offer. why does it have to be on September 10th though :,(
Answer:
Kindly refer to the attached table for breakdown of answers
Explanation:
FIFO is a costing method that assigns costs to production based on a First in First out basis. Meaning the oldest stocks are transferred to production before the earlier purchased stock
LIFO is a costing method which assigns costs to production on the newness of the stock item, that is Last in First out. The latests stock is always the first to be transferred to production
Weighted Average attempts to find a mix between FIFO & LIFO by employing a uniform valuation based on total value of stock divided by the Quantity of stock available at every point in time.
Cost of Goods sold is the relative cost associated with the sales volume based on the cost method adopted of the 3 listed above
And Closing inventory is the valuation of the stock left over at year end based on the Costing method earlier employed.
Increases outputs by smaller and smaller amounts.
Diminishing returns means that at a certain point with all other factors equal, increasing the inputs will yield more and more decreased outputs.
Answer:
-0.33
Explanation:
The calculation of the price elasticity of demand using mid point formula is shown below:
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)
where,
Change in quantity demanded is
= Q2 - Q1
= 80 units - 100 units
= -20 units
And, the average of quantity demanded would be
= (80 units + 100 units) ÷ 2
= 90 units
Change in price is
= P2 - P1
= $2 - $1
= 1
And, the average of the price is
= ($2 + $1) ÷ 2
= 1.5
So, after solving this, the price elasticity of demand is -0.33
