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Kipish [7]
3 years ago
10

Explain how a seller can determine whether the demand for his or her good is inelastic, elastic, or unit elastic between two pri

ces
Business
1 answer:
patriot [66]3 years ago
8 0

Answer:

by calculating the elasticity of demand.

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.  

Explanation:

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Loop 1604 Inc. has prepared a static budget at the beginning of the month. At the end of the month the following information is
Charra [1.4K]

Answer:

Flexible budget variance for Sales Revenue = $3,960 Favorable

Explanation:

Provided budget is static budget, firstly for calculating flexible budget variance for Sales Revenue.

For this flexible budget is made of same level of quantity as of actual level.

therefore Flexible budget sales = 990 units @ $70 per unit price will be same as of static budget.

Therefore Variance = Standard Flexible Budgeted Sales - Actual Sales

Standard Flexible Budgeted Sales = 990 \times $70 = $69,300

Actual Sales Revenue = 990 \times $74 = $73,260

Since actual revenue is more than budgeted sales this is favorable.

Flexible Budget Variance for Sales Revenue = $69,300 - $73,260 = $3,960

Since actual revenue is more than budgeted revenue therefore this is a favorable variance.

Flexible budget variance for Sales Revenue = $3,960 Favorable

3 0
3 years ago
Analyst 1 suggested that the demand curve for newspapers in Baltimore might have shifted to the right because people were becomi
krek1111 [17]

Answer:

A shift to the right of the demand curve can be caused by any factor other than price that increases the willingless of consumers to purchase a product of service (in this case newspapers).

Two other events can result in a shift to the right of the demand curve for newspapers:

  • Local elections are held in Baltimore - when local elections are held, people become more interested in following local news in order to decide their vote, therefore, they are willing to purchase more newspapers.
  • A dramatic event occurs in Baltimore - it could be a natural disaster, a massacre, or an economic crisis, if things become too far from normal, people will want to learn about what is happening, and will look out for information in newspapers.

8 0
2 years ago
Which of the statements below is​ FALSE? A. Common​ stock's ownership claim on the assets and cash flow of a company is often re
elixir [45]

Answer:

The option B. The profits for common stock owners come before payment to​ employees, suppliers,​ government, and creditors. is the false statement.

Profit is any amount that is left after setting aside the cost and liabilities. It is financial gain which is represented by the difference between the amount that is spent and the amount that has been earned or gained. Whereas common stock is a kind of a common share holder equity which also considered to be a type of a security.

8 0
3 years ago
Match each description 1 through 4 with the characteristic of preferred stock that it best describes in the dropdown next to eac
andreyandreev [35.5K]

Answer:

1. <em>Holders of the stock are entitled to receive current and all past dividends before common stockholders receive any dividends</em>  - Cumulative Shares

Holders of Cumulative Shares will always receive the dividends owed to them because even if they do not get it in a particular period, the dividends will accrue until the company is able to pay them.

2. <em>Holders of the stock can receive dividends exceeding the stated rate under certain conditions  - </em>Participating Shares

Participating Shareholders are eligible to receive an extra dividend provided that there is surplus profit after all the other dividends have been paid off.

<em>3. Holders of the stock are not entitled to receive dividends in excess of the stated rate.  - </em>Non- Participating Shares

Even if there are surplus profits after all other dividends have been paid off, these holders are not entitled to that profit.

<em>4. Holders of the stock lose any dividends that are not declared in the current year - </em>Non- Cumulative Shares

If their dividend is not declared in a certain period, they will forfeit that dividend for the period.

7 0
3 years ago
Which of the following jobs is referred to as a trade?
Tpy6a [65]
Carpentry

Hope that helps! :)
3 0
3 years ago
Read 2 more answers
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