Answer:
b. inelastic
c. Yes - it decreased
Explanation:
Elasticitiy of demand measures the responsiveness of quantity demanded to changes in price.
Elasticity of demand = percentage change in quantity demanded/ percentage change in price
= -2/4 = -0.5
The absolute value is 0.5
If the absolute value of the coffiecnet of elasticity of demand is less than one, demand is inelastic.
Demand is inelastic if a change in price has no effect on quantity demanded .
We can tell that the quantity demanded fell because of the negative sign in front of the percentage change in quantity demanded.
I hope my answer helps you
Answer:
b. debit to Accounts Receivable and credit to Sales Discount Forfeited for $120
Explanation:
The last payment of $12,000 it's without discount because was not made within the 10 days, so it's necessary to Debit Cash by $12,000 and reverse the accrual for the remaining $120 discount offered not applied.
The it's necessary to record this entry:
b. debit to Accounts Receivable and credit to Sales Discount Forfeited for $120
Answer:
In his landmark essay on the nature of economics, Lionel Robbins defined economics as. “the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses”
Explanation:
Answer:
(d) Manufacturing Overhead $8,000 Raw Materials $8,000
Explanation:
This will be an spending associate with the actual overhead.
These materials are indirect, so it should go in the factory overhead account.
They are not associate with any job in particular, so it cannot be capitalize through work in process.
Lisa's Pizza is trying to compete with the larger Domino's Pizza down the street for customers. Lisa here is trying to practice operations management.
More about operations management:
Operations management is a branch of management that focuses on planning, organising, and redesigning the production process for goods or services as well as business operations.
The management of business procedures to achieve the best level of productivity within an organisation is known as operations management (OM). In order to increase an organization's profit, it is concerned with transforming resources like labour and materials into products and services as effectively as feasible.
Teams in charge of operations management strive to produce the maximum net operational profit by balancing costs and revenues.
Learn more about Operations management here:
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