C. One who signed the note and promised to pay at maturity
The cross elasticity of demand for senior workers is 1.5. Senior workers and entry-level workers are gross complements.
The scale effect dominates in this example.
If the wage of the entry level workers increase, the demand curve would shift to the right.
<h3>What is the crosss price elasticity?</h3>
Cross price elasticity of demand measures the responsiveness of quantity demanded of good A to changes in price of good B.
Cross price elasticity = 15% / 10 = 1.5
Complement goods are goods or resources that are used together. As a result of the decline in wages, senior workers would be laid off. This means that senior workers and entry level workers work together.
<h3>What is the effect on the demand curve if the wages of entry level workers increase?</h3>
If the wage of the entry level workers increase, the demand for senior workers wouuld increase. This would lead to a shift to the right of the demand curve for senior workers.
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Answer:
RecRoom Equipment Company
Date Particulars Debit Credit
1Nov Note Receivable $ 13,200
Account Receivable $ 13,200
RecRoom Equipment Company received an $13,200, six-month, 7 percent note to settle an $13,200 unpaid balance owed by a customer.
31 December Interest Receivable $ 924
Interest Revenue $ 924
To record the accrued interest earned. $13,200*7%= $ 924. As it is for two months the amount would be $ (924/12)*2= $ 154
1 May Cash $ 13,662
Interest Income $ 462
Notes Receivable $ 13,200
RecRoom receives the interest on the note's maturity date. RecRoom receives the principal on the note's maturity date.
Based on the information given the dollar amount of the discount points is $3,600.
<h3>Discount:</h3>
First step is to calculate the down payment
Down payment=$200,000-($200,000×10%)
Down payment=$200,000-$20,000
Down payment=$180,000
Second step is to calculate the discount points
Discount point=Down payment× Discount points
Discount point=$180,000×2%
Discount point=$3,600
Inconclusion the dollar amount of the discount points is $3,600.
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