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dimaraw [331]
3 years ago
10

Every year Christmas tree vendors bring tens of thousands of trees from the forests of New England to New York City and Boston.

During the last 2 years, the market has been competitive; as a result, price has fallen by 10 percent. If the price elasticity of demand was -1.3, vendors would lose revenues altogether as a result of a price decline.
A. True
B. False
Business
1 answer:
VikaD [51]3 years ago
3 0

Answer:

B) False

Explanation:

Since the price elasticity of demand is -1.3, it is considered elastic. That means that a 10% decrease in the price will result in a 13% increase in total quantity sold.

E.g. original price = $100, quantity demanded = 100 trees, total revenue = $10,000

price decreases by 10% to $90, but the quantity demanded increased by 13% to 113 trees, total revenue = $10,170

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natulia [17]
False.
The business wants to upgrade the phone system, not rebuy the same one.
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2 years ago
The ideal marketing objective is ________. idealistic, quantifiable, and consumer-oriented situational, unattainable, and intern
GuDViN [60]

Answer:

The correct answer is: Time specific, realistic and quantifiable.

Explanation:

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8 0
3 years ago
Dave's boss told him that he doesn't have to attend the company picnic (which everybody dislikes) if dave meets his sales quota
astraxan [27]
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8 0
3 years ago
On January​ 1, 2019, Castle Services issued $ 174 comma 000 of sixminus ​year, 12 ​% bonds when the market interest rate was 11
Marysya12 [62]

Answer: Debit: Interest expense $9900

Debit: Premium on bonds payable $540

Credit: Cash $10440

Explanation:

First and foremost, the cash payment will be calculated as:

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= $174,000 × 0.12 × 0.5

= $10440

Interest expenses will be calculated as:

= $180000 × 11% × 6/12

= $180000 × 0.11 × 0.5

= $9900

Therefore, the journal entry to record the first interest​ payment would be:

Debit: Interest expense $9900

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Credit: Cash $10440

8 0
2 years ago
Please someone answer this for me. I will give brainliest points
Ket [755]
Your answer would be severity (:
5 0
3 years ago
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