1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lozanna [386]
3 years ago
9

When your local Internet service provider increased its monthly charge from $40 to $50, the number of subscribers fell from 2,00

0 to 1,800. Demand will:_________
Business
1 answer:
love history [14]3 years ago
7 0

Answer: Inelastic

Explanation:

Based on the information given, we would calculate the elasticity of demand which would be:

= (Change in Quantity / Change in Price) (Initial Price/ Initial Quantity)

Change in Quantity = 1800 - 2000 = -200

Change in Price = 50 - 40 = 10

Initial Price = 40

Initial Quantity = 2000

Elasticity of demand would then be:

= (-200/10)(40/2000)

= (-20)(0.02)

= -0.4

Since elasticity of demand is less than 1, it is an inelastic demand.

You might be interested in
Definition of diverse nation
Umnica [9.8K]
The concept of diversity<span> encompasses acceptance and respect. It means understanding that we all have differences and we're all unique. </span>
4 0
3 years ago
Allowance for Doubtful Accounts has a debit balance of $2,300 at the end of the year (before adjustment). The company prepares a
Alina [70]

Answer:

d. Debit Bad Debt Expense, $34,200; credit Allowance for Doubtful Accounts, $34,200

Explanation:

allowance balance                           2,300 debit

estimated uncollectible accounts   31,900 credit

adjustment needed                         34,200 credit

We need to adjust the allowance to our estimated uncollectible account. Currently, it has 2,300 debit balance. We need to increase it to 31,900

If we think it in two steps:

We need to credit by 2,300 to have zero balance,

and then 31,900 to reach the expected uncollectible amount

in total a credit for 34,200 needs to be done

<u>The adjusting entry will be:</u>

bad debt expense                       34,200 debit

allowance for doubtful accounts                        34,200 credit

8 0
3 years ago
Each of the following people bought a watch that costs $300. Which of the following people will pay the most for their purchase
KATRIN_1 [288]

Sarah because cash has no intrest.

8 0
3 years ago
Read 2 more answers
Abe and Jan are well to do and are concerned that the estate tax exemption of $10,500,000 (combined) will not be sufficient to a
Alinara [238K]

Answer:

Please see attachment

Explanation:

Please see attachment

7 0
3 years ago
Corporate level strategy focuses on:
DIA [1.3K]

Answer:

The correct answer is A. What businesses to compete in and how business can be managed to achieve synergy.

Explanation:

Corporate strategy refers to the group of actions carried out by an organization in order to locate and recognize itself within the market in which it operates. This type of action also allows them to direct all their efforts towards a common purpose, which is normally related to their position in the market, their level of integration, and other types of tasks such as acquisitions or investments.

3 0
3 years ago
Other questions:
  • Fournotts Corp., a sports shoe manufacturer, launched a new sports shoe.As a part of publicity, it invited its customers to try
    15·1 answer
  • What are some considerations in choosing a financial institution?
    14·1 answer
  • A $7,500 face value, 20-year bond has a nominal annual coupon rate of 7.4%, paid semiannually. The yield to maturity is 5.3% con
    12·1 answer
  • On the statement of cash flows, the cash flows from operating activities section would include a. receipts from the issuance of
    14·1 answer
  • How do you get a Monthly budget spend down
    15·1 answer
  • Which of these pieces of information would fit in a career plan's career requirements section? Check all that apply.
    10·2 answers
  • 1. You will receive a Financial Aid Award Letter... *
    6·1 answer
  • Presented below is the trial balance of Pina Corporation at December 31, 2017. Debit CreditCash $ 198,550Sales $ 8,103,580Debt I
    9·1 answer
  • Bernie is a participant in his employer's non-contributory ESOP. Two years ago, his employer contributed stock with a fair marke
    14·1 answer
  • In general, economists define a recession as ______ or more consecutive three-month periods of decline in a country's gdp.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!