Answer:
PED = -1.4 or |1.4| in absolute values, price elastic
Explanation:
the price elasticity of demand (PED) using the midpoint method:
PED = % change in quantity / % change in price
- % change in quantity = {(Q
2 − Q1
) / [(Q2 + Q1)/2]} x 100 = {(200 − 300
) / [(200 + 300)/2]} x 100 = -100 / 250 = -0.4
- % change in price = {(P2 − P1
) / [(P2 + P1)/2]} x 100 = {(1 − 0.75
) / [(1 + 0.75)/2]} x 100 = 0.286
PED = -0.4 / 0.286 = -1.4 or |1.4| in absolute values
Answer:
A home improvement store that just began business last year and had $2.7 million in gross receipts.
Explanation:
The IRS allows only a limited number of businesses to use cash basis accounting and in order to do so, the business must be:
- Partnership or C corporation with less than $5 million in total sales revenue per year
- Sole proprietorship or S corporation with less than $1 million in total sales revenue
- Cannot be a publicly traded corporation
- Personal service businesses with more than 95% of revenue specifically related to services.
- Family owned farms with total annual sales revenue less than $25 million.
Answer:
Yes, Rawls could collect.
Explanation:
It is possible that Rawls collects damages due to negligence. This is due to the fact that the main cause of the accident was not substantiated by the Progressive Northern Insurance Company. The company claimed that the accident could have been caused by a series of events and the company was also not certain about the main cause of the accident.
Answer:
False
Explanation:
In order to attract more customers to your store and sell larger quantitative, you must sell at a price below the competition, not above.
Rational customers should purchase at the lowest possible price, that is the basic concept behind the law of supply and demand. A lower price should result in a higher quantity demanded.
