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3 years ago

Read the attached file

Business

1 answer:

Ulleksa [173]3 years ago

4 0

Answer:

A good without any good substitutes is likely to have a relatively low elasticity of demand. Low elasticity of demand means that consumers cannot replace the good with substitutes when the price goes up.

The yacht is likely to have the more elastic demand because it is a luxury good that people can easily forgo in case they do not have enough income. An amputation procedure for a diabetic on the other hand, is a medical issue that is will have an extremely inelastic demand. In other words, patients will pay any necessary amount for the procedure, because it is vital for their lives.

Food as a whole will be the least elastic because people cannot go without food, and it is one of the most basic necessities that need to be covered.

Vegetables will be in between. They are one essential food group, but they could be replaced in some cases.

Red bell peppers is the most elastic good because it is akin to a luxury good in the sense that is not objectively necessary to consume for anything other than flavor, and as a spice, it has many close substitutes.

The demand for natural gas will tend to be less elastic in the short run than in the long run. In the short-run, people will have to continue buying natural gas even if the price rises, but in the long-run, many people will opt for other alternatives like electric cars.

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Lewis Company had the following transactions involving notes payable.

Fiesta28 [93]

Answer and Explanation:

The journal entries are shown below

1. Cash Dr $50,500

To Note payable $50,500

(Being the amount borrowed is recorded)

2. Cash Dr $61,200

To Note payable $61,200

(Being the amount borrowed is recorded)

3. Interest expense $2,020

To Interest payable $2,020

(Being the interest expense is recorded)

The computation is shown below:

= $50,500 × 8% × 6 months ÷ 12 months

= $2,020

4. Interest expense $612

To Interest payable $612

(Being the interest expense is recorded)

The computation is shown below:

= $61,200 × 6% × 2 months ÷ 12 months

= $612

5. Note payable $61,200

Interest expense $306

Interest payable $612

To Cash $62,118 ($61,200 + $918)

(Being the principal and the interest is recorded)

= $61,200 × 6% × 3 months ÷ 12 months

= $2,020

5. Note payable $50,500

Interest expense $1,010

Interest payable $2,020

To Cash $62,118 ($50,500 + $3,030)

(Being the principal and the interest is recorded)

= $50,500 × 8% × 9 months ÷ 12 months

= $3,030

8 0

3 years ago

The commission structure on a stock purchase is $45 plus $0.04 per share. If you purchase five round lots of a stock selling for

Vedmedyk [2.9K]

The commission for purchasing five round lots of a stock selling for $130 is $65.

<h3>What is round lots of a stock?</h3>

A specified quantity of securities to be traded on an exchange is known as a round lot. In the stock market, a round lot is defined as 100 shares or a bigger number that may be divided in half equally.

1 round lots = 100 shares

5 round lots = 500 shares

The commission structure on a stock purchase is $45 plus $0.04 per share.

For 500 shares, the commission is

= 45 + 0.04×500

= 65

Therefore, the commission for purchasing 500 shares of stock selling for $130 is $65.

To know more about commission, here

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7 0

2 years ago

Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives.

7nadin3 [17]

Please kindly note that none of the

Options given in the question is correct.

The correct answer is calculated and explained below

Answer:

$79.92 per move.

Explanation:

Activity rate can be calculated by dividing Activity cost budgeted for the particular activity pool by the Estimated or Total Activity base for that pool

Activity rate = Budgeted activity cost ÷ Estimated or Total Activity base

In the question above,

Budgeted Activity cost for material handling = $443,500

Estimated or Total Activity base for material handling (Summation of Total moves) = 1,460 + 760 + 3,700 = 5920 moves

Activity rate = $443,500 ÷ 5920

= $79.92 per move.

3 0

3 years ago

______________ and _________________ wanted germany to pay for the entire financial cost of the war.

Nataly_w [17]

<span>France and Belgium wanted Germany to pay for the entire financial cost of the war
</span><span>The "War guilt clause" </span>placed sole responsibility for the war on Germany and said that they must pay back the allies for the war expenses. It <span>was a statement that Germany was responsible for beginning World War I.</span>

7 0

4 years ago

On average, managers spend the least amount of time doing which managerial activity?

Aleks [24]

On average, managers spend the least amount of time doing the managerial activity is networking.

What is networking?

Networking is the technique of making connections with respect of the business environment. Managers very often get involved in developing relationships and making their own networks. They are accountable for monitoring and completing the given task in an effective way. So, they basically focus on many managerial activities like decision-making, planning things, communicating the required information, managing employees, etc.

Which managerial function is the most important?

The most important function of management is Planning. Planning means setting objectives in order to achieve , a goal in a limited time period .Several alternatives are formulated in order to achieve the goals.

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6 0

1 year ago