All categories

3 years ago

Elasticity is _______

Business

1 answer:

balu736 [363]3 years ago

5 0

Answer:

OPTION A

Explanation:

In economics elasticity refers to the calculation of an empirical parameter's relative shift in reaction to a change in the other. It depicts how difficult it is for both distributor and customer to change their habits and replace another product, the power of an opportunity over options per the relative price of opportunities.

Elasticity could be measured as proportion of variation in magnitude in one parameter to change in magnitude in an other parameter if the latter variable has a substantive effect on the previous. In form of the algebra a more precise description is provided. This is a tool to measure one factor's sensitivity to variations in the other, correlative static.

You might be interested in

Obeying the law is what kind of <br> Ethical Behavior

Lapatulllka [165]

Answer:

Basic level

Explanation:

Obeying the law is the basic demand of constitution of any country from its citizens. It is basically following the general rules of being the citizen of country.

Ethical behavior is about being morally right in your actions, it is no where defined properly what is ethical, sometimes even unethical behavior does not count in illegal behavior.

As for example if my colleague asks for a pen, and I do not help him, even though I have extra pen, is unethical behavior but it is not illegal.

But since it is unethical it is not correct morally, although all the legal actions are ethical.

4 0

2 years ago

Jim had a beginning inventory of $5,500. During the month of April, he purchased $4,000 of food and had an ending inventory of $

Likurg_2 [28]

Answer:

1.23

Explanation:

Inventory turnover is a ratio showing how many times a company has sold and replaced inventory during a given period.

Cost of Sales=Opening Inventory+Purchases-Closing Inventory

=5,500+4,000-3,800= 5,700

Average Inventory= Opening + Closing/2

= 5,500+3,800/2= 4,650

Inventory Turnover Ratio= <u>Cost of Sales</u>

Avg Inventory

= 5,700/4,650=1.23

8 0

2 years ago

A(n) _____ describes your core values and highest career goals.

Alenkinab [10]

Personal Mission Statement

4 0

2 years ago

Read 2 more answers

Cullumber Company has the following transactions during August of the current year. Aug. 1 Opens an office as a financial adviso

Flauer [41]

Answer:

Aug 1 Cash $4000 Dr

Common Stock $4000 C

Aug 4 Prepaid Insurance $1500 Dr

Cash $1500 Cr

Aug 16 Cash $400 Dr

Service Revenue $400 Cr

Aug 27 Salary Expense $1000 Dr

Cash $1000 Cr

Explanation:

Aug 1. The transaction relates to owner's investment in the business/company thus we debit the cash coming into the business and credit common stock as both are increasing.

Aug 4. The insurance paid in advance is a current asset for the business. So, we debit the prepaid insurance account as the asset is increasing and credit the cash account as it is decreasing due to payment for insurance.

Aug 16. 400 received is the service revenue and as the revenue is increasing, we credit it. We are receiving cash so we debit the cash account.

Aug 27. The payment of salary is an expense and as expense is increasing, we debit the salary expense account and credit the cash account as cash is decreasing.

3 0

3 years ago

RuthAnn is 28 years old and is retiring at the age of 65. When she retires, she estimates that she will need an annual income of

inessss [21]

Answer:

Yes

Explanation:

From her current age of 28 to her retirement age of 65, RuthAnn has (65 - 28 =) 37 more years to work.

If she saves 11% of her annual income of $36,278.13 into a 401(k), she will be setting aside (11% * 36,278.13 =) $3,990.59 into the 401(k) account annually.

At 7.1% compounding rate, in 37 years, RuthAnn would have set aside an amount estimated by the future value of an annuity formula.

$FV = \frac{A(1+r)^{n} - 1}{r}$

where FV is the future value, the amount that would have been set aside,

A = is the annual savings,

r = is the compounding rate, and

n = is the number of years.

Therefore, the total amount that would be saved up after 37 years =

$FV = \frac{3,990.59(1+0.071)^{37} - 1}{0.071}$

= (3,990.59 * 11.6535)/0.071

= $654,990.31.

By spending $32,523 annually from an account earning 7.1% compound interest rate for 30 years, the present value of the total amount needed by RuthAnn today that will be sufficient for her retirement spending can be estimated using the present value of an annuity formula.

$PV = \frac{A(1 - (1+r)^{-n}}{r}$

= $PV = \frac{32,523(1 - (1.071)^{-30}}{0.071}$

= (32523 * 0.8723)/0.071

= $399,574.83.

Since the amount saved up ($654,990.31) is more than the total amount required for RuthAnn's retirement ($399,574.83), RuthAnn has more than sufficient to meet her Retirement goal.

Specifically, the amount she has saved up can support a maximum annual spending which can be estimated from the present value of an annuity formula.

$PV = \frac{A(1 - (1+r)^{-n}}{r}$

where PV = the amount saved up, $654,990.31,

A = the annual spending which we are estimating,

r = the 7.1% compound interest rate,

n = the number of years to retirement.

$654,990.31 = \frac{A(1 - (1.071)^{-30}}{0.071}$

= 654,990.31 = (A * 0.8723)/0.071

= A = 654,990.31/0.8723 * 0.071

= A = 53,312.29

Thus, the amount saved up can support a maximum retirement spending of $53,312.29, which is higher than the $32,523 annual income needed by RuthAnn for her retirement.

6 0

2 years ago