Answer:
The amount to be reported as net amount of revenue in the current year from the pledge drive is $870,000 option B
Explanation:
The net amount amount of revenue the society should recognize in the current year from this pledge drive is the actual collected plus the remainder of the pledge which is $300,000 minus the provision for uncollectible pledge i.e 10%*$300,000
The net amount of revenue=$600,000+$300,000-(10%*$300,000)=$870,000
The correct option is B,net amount of revenue of $870,000 recognized
This statement is true. Teenagers have a higher price elasticity than do adults.
This is because teenagers does not have much income to spend so they can shift to other products also. Teenagers are also not addict to smoking or any other habits , Therefore price affects the demand of the product.
Price elasticity is defined as the ratio of the percentage change in quantity demanded due to percentage change in price.
Elasticity having more than 1 are relatively more elastic.
Adults have more income to spent so the demand do not effects due to change in price. As adults are more addicted to smoking then teenagers ,
addicted people did not consume less due to its price change.
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Answer:
a. Shopping for used cars when the seller has private information about the car unavailable to the buyer
Explanation:
When the market is not able to produce an efficient quantity, then it is said that market is failed. This might happens due to many reasons and asymmetric information is one of them. When there is an asymmetric information, then the sellers of the used car have information about it, but the buyer do not have the full information about the used car.
Hence this leads to inefficient outcome and therefore market fails.
Hence it can be said that a market failure example is Shopping for used cars when the seller has private information about the car unavailable to the buyer.
Hence option first is the correct answer.
Answer:
Tell the customer when you store’s next delivery day is and to come back then Issue the customer a raincheck for the item that is out of stock
Explanation:
Customer<em> retention</em> is important as well as <em>meeting their specific needs</em>. It is unwise to turn back a customer and refer them to a competitor, this may mean loss of business (currently and in the future). Also it is unwise to offer a substitute item as this will not meet their needs (though you may want to inform them of the substitute item if they are interested). Issue the customer a raincheck for the item that is out of stock is the best way to go and keep the business.
