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den301095 [7]
3 years ago
7

Along any downward sloping straight-line demand curve: Group of answer choices both the price elasticity and slope are constant.

both the price elasticity and slope vary. the price elasticity varies, but the slope is constant. the slope varies, but the price elasticity is constant.
Business
1 answer:
vitfil [10]3 years ago
8 0

Answer:

the price elasticity varies, but the slope is constant

Explanation:

The demand curve is a curve that shows the relationship between price and quantity demanded. The demand curve is negatively sloped because the higher the price, the lower the quantity demanded. This is in line with the law of demand.

According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

At the midpoint of the demand curve, demand is usually unit elastic. Above the midpoint of the demand curve, demand is elastic and blow the midpoint, demand is inelastic

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  

Price elasticity of demand = midpoint change in quantity demanded / midpoint 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.  

Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases  

Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.

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Assume that Wizard Internet is operating as a general partnership, what is Caleb's personal tort liability for Anna's actions wi
shutvik [7]

Answer: The correct answer is "D. Caleb is personally jointly and severally liable along with Anna.".

Explanation: Caleb is personally jointly and severally liable along with Anna. When there is joint and several liability, a person has the right to claim payment of a debt or compensation for damage to any of those responsible or even all of them, without anyone being able to excuse themselves to evade their responsibility.

6 0
2 years ago
The custodian of a $450 petty cash fund discovers that the fund has $65 in coins and currency plus $382 in receipts at the end o
Mandarinka [93]

The entry to replenish the petty cash fund will include a credit to cash for $385.

What is petty cash fund?

When regular purchasing techniques are impractical, such as when buying office supplies or paying employees, a tiny sum of money called petty cash is utilized instead.

The entry to replenish the petty cash fund amount will include:

Fund amount : $450 - Used

Fund amount  :$450 - $382 = 68

cash on hand - remaining ; $68 - $65 = $3

Used + remaining ; $382 + $65 = 385

As a result, a credit to cash for $385.

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8 0
1 year ago
Fill in the blank with one of the following words: bacteria, fungi, parasites, viruses.
denis23 [38]

Answer:

Corona and china

3 0
3 years ago
Which of the following is true of normal shortages? They do not include theft and shrinkage. These goods are no longer available
never [62]

Answer:

<h2>The correct answer here would be the 1st option given in the answer choices or options or They do not include theft and shrinkage.</h2>

Explanation:

  • From a business standpoint, normal shortages basically indicate comparatively lower inventory availability of goods and services based on their consumer demand or respective sales orders by consumers or buyers.
  • Normal shortage implies that the amount or units goods and services available to the company or firm is not sufficient to fulfill the required consumer or buyer demand for those commodities or services.However,while calculating or computing normal shortage, any unwanted thefts and shrinkage or inadvertent damages of the concerned commodities or goods are not usually considered.
7 0
3 years ago
In the month of June, Jose Hebert’s Beauty Salon gave 4,125 haircuts, shampoos, and permanents at an average price of $40. Durin
viktelen [127]

Answer:

Contribution margin= $41,250

Contribution margin per unit=  $10

Contribution margin ratio= 0.25 or 25%

Breakeven Point ($)=$66,000

Breakeven Point (units)=1,650 units

Explanation:

Contribution margins = sales price - variable costs

The sales price is $40 per unit.

variable costs per units will be total variable cost / total units

total variable costs will be 75% of sales

= 4,125 x $40

=$165,000

variable cost will be 75/100 x 165,000

=0.75 x 165,000

=$123,750

variable cost per item is $123, 750 / 4125

variable cost per unit is $30

(Total)Contribution margin is sales - variable costs

=$165,000 - $123,750

=$41,250

Contribution margin per unit will be $40- $30

Contribution margin per unit is $10

Contribution margin ration =<u>total revenue - variable costs</u>

      total revenue

                                             = <u>$165,000 - $123,750</u>

                                                         $165,000

=41,240/ 165,000

=0.25

=As a percentage, contribution margin ratio = 25%

Break-even point using contribution margin technique

Break-even  in units = fixed cost/ contribution margin per unit

= $16,500/ 10

=1650 units

Break-even in dollars= Breakeven units x selling price

=1650 x 40

=$66,000

3 0
3 years ago
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