It will definitely decrease, as consumers will have to pay more and a deadweight loss will be present. Search up 'price floors and deadweight loss'.
Answer:
Demand is more elastic in the long run than it is in the short run
Explanation:
Elasticity of demand measures the responsiveness of quantity demanded to changes in price.
Demand is more elastic in the long run than it is in the short run because in the long run consumers have more time to search for suitable substitutes.
When the absolute value of elasticity of demand is less than one, demand is inelastic.
When the absolute value of elasticity of demand is equal to one, demand is unitary.
When the absolute value of elasticity of demand is greater than one, demand is elastic.
Demand is less elastic the smaller the percentage of the consumer's budget the item takes up.
The elasticity of demand for a specific brand of good doesn't translate into the elasticity of demand for the good.
I hope my answer helps you
Answer: c.$71 per machine hour
Explanation:
The Pre-determined Overhead rate is the rate Thomlin Company forecasted that the company would incur total overhead for the current year.
They forecasted total overhead of $11,597,000 with 164,000 total machine hours.
Since the rate is based on Machine Hours the rate would be,
= Total Forecasted Overhead / Total Forecasted Machine Hours
= 11,597,000 / 164,000
= 70.71
= $71
Answer:
Dollar Tree = $5,643
Target = $11,297
Explanation:
For dollar tree, using the given equation:
13,501 = 7,858 + stockholder's equity
Stockholder's equity = 13,501 - 7,858
= $5,643
For target, using the given equation:
41,290 = 29,993 + stockholder's equity
Stockholder's equity = 41,290 - 29,993
= $11,297
