Answer:
1.3
Explanation:
Given:
If Good C increases in price by 30% a pound.
This causes the quantity demanded for Good D to increase by 40%.
Question asked:
What is the cross-price elasticity of the two goods ?
Solution:
We can find the cross-price elasticity of the two goods by this formula:


When Good C increases in price by 30% which causes the quantity demanded for Good D to increase by 40%, then the cross-price elasticity of the is Good C and Good D is 1.3.
Answer:
Refer explanation
Explanation:
1. Purchase of Inventory ($302000)
This transaction has occurred on account which means that payment was not made immediately but would be made at a future date, thus a creditor to the business.
Debit : Purchases account : $302000
Credit : Accounts Payables account : $302000
2. Sale of inventory ($504000)
The sale of inventory requires two separate transactions. The sale is accounted and along with this, the amount of inventory sold would also have to be accounted as an asset reduction.
A. To reduce inventory:
Debit : Cost of Sales account : $327000
Credit : Inventory account : $327000
B. Record the sale:
Debit : Accounts Receivables account : $504000
Credit : Sales account : $504000
This too is a sale on account which means that a debtor has been incurred who will pay for the sale at a later date.
Answer:
Cost per equivalent unit of material =$1.51
Explanation:
<em>Equivalent units are notional whole units which represent incomplete work and are used to apportion production costs between work in progress and finished work.</em>
Equivalent units = Degree of completion × units
<em>Items Equivalent units</em>
Opening inventory 27,000×100% = 27,000
Fully worked 180,000× 100% = 180,000
Closing inventory 24,000× 100% = <u>24,000</u>
Total equivalent units <u> 231,000</u>
Cost per equivalent unit of material = 93,800+254,000/231,000 units
I think the the income received from selling her books is an example of earned income. It<span> is any income that is generated by working. Your salary or money made from hourly employment (regardless of whether that salary or hourly income came from working for someone else or from your own “consulting”) is considered earned income.</span>
It is called centrally-planned economy or command economy