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Dahasolnce [82]
3 years ago
15

Richard Voith estimated the price elasticity of demand for round-trip rail fare to be 0.62. If fares rose by 30 percent, one wou

ld expect the quantity of round-trip tickets purchased to:
Business
1 answer:
ElenaW [278]3 years ago
7 0

Answer:

Fall by 18.6%.

Explanation:

Calculation for quantity of round-trip tickets purchased

Using this formula

Quantity of round-trip tickets purchased=Round-trip rail fare*Fares percentage

Let plug in the formula

Quantity of round-trip tickets purchased=30%*0.62

Quantity of round-trip tickets purchased=0.186*100

Quantity of round-trip tickets purchased=18.6%

Therefore one would expect the quantity of round-trip tickets purchased to:Fall by 18.6%.

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When firms are said to be price takers, it implies that if a firm raises its price: a. buyers will go elsewhere. b. buyers will
MatroZZZ [7]

Answer:

The correct answer is a. buyers will go elsewhere.

Explanation:

This situation occurs when there is competition, that is, other businesses that offer the same or similar products as those of a particular company. In this scenario, the potential buyer will notice the difference according to their previous experiences and will find a way to acquire products from another brand that offer the same satisfaction as the product that rose in price. You must be very cautious with this practice, since it can end up damaging the operation, and in the worst case, leading to bankruptcy.

3 0
3 years ago
Hanover, inc. purchased land through the issuance of long-term bonds. how is this reported on the statement of cash flows?
avanturin [10]
The purchase of land by Hanover, Inc. through the issuance of long term bonds should be reported on the statement of cash flows as
significant non cash investing and financing activity that merits disclosure.
5 0
3 years ago
A beneficiary acquired stock from a decedent. The stock's fair market value at the date of the decedent's death was $500,000. Th
Ivanshal [37]

Answer:

Beneficiary recognized gain is $510000.

Explanation:

The amount paid by the decedent for the stock = $280000

The market value of the stock at the time of death = $500000

The selling price or the amount received by the beneficiary by the sell of stock = $510000

Since the recognized gain is calculated by subtracting the amount paid by the person to buy the stock from the amount that he receives from the sale of stock. But in this case, the beneficiary pays zero for the stock but gets all the money after selling.

Beneficiary recognized gain = amount received from the sell – the amount paid by the beneficiary.

= $510000 – 0

= $510000

7 0
3 years ago
On December 7 Oklahoma City thunder
adelina 88 [10]

Answer:

rolled?

Explanation:

5 0
2 years ago
________ often assist companies and their employees with ethical issues by formally addressing contributions to government offic
spin [16.1K]

Answer: Code of ethics

Explanation: Code of ethics refers to the set of principles that guides the professionals to conduct their activities in an ethical manner. A professional can use a code of ethics when ethical dilemma arises during his job.

It assists the organizations and its members to understand the difference between right and wrong, and helping them to make ethical decisions.

Hence from the above explanation we can conclude that the correct answer is code of ethics.

4 0
3 years ago
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